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The AirFund Terms & Conditions


These Terms and Conditions govern your participation in the AirFunders programme offered by AirFunders Limited, please read them carefully. Any references in these terms to “we”, “us”, and “our” are references to AirFunders Limited. By joining AirFunders and using ( ) (the “Website”) the following Terms and Conditions apply.



Nothing in these Terms and Conditions or the Website constitutes investment, tax, financial, legal, pension or other advice by AirFunders Ltd, nor should it be considered as a recommendation by AirFunders Ltd, its subsidiaries or affiliates (or their respective directors, shareholders, partners, officers, affiliates, employees, agents or advisors) to participate in AirFunders


AirFunders operates an open banking drivenplatform that allows members to benefit from loyalty payments, commissions and cashback payments which are collected by AirFunders and invested for members long term benefit.

Although AirFunders Ltd is not currently regulated by the FCA aspects of our service such as the collection of transaction data is undertaken by aurthorised and regulated Accont Information Service Providers and all funds collected are managed and invested byour designated fund management partners who are regulated by the FCA. By signing up as a member you receive AirFunders Bonds on a pound for pound basis, on any loyalty payments, commissions or cashback payments that are collected through your expenditure that is tracked with participating retailers subject to these Terms and Conditions.



In addition to the definitions found elsewhere in these Terms and Conditions, the following definitions apply:

“Account Holder”, or “you”, “your”

means the person who signs up for an AirFunders account who must be the legal owner of the email address used to register / join.

“Allocation Formula”

means the formula used to calculate members’ entitlements based on their time spent within the fund, the size of each transaction, and the active days where transactions with participating retailers have been recorded.

“Bond Issued Confirmed Purchases”

means Confirmed Purchases to which an AirFunders Bond has been issued.

“Confirmed Purchases”

means purchases confirmed by the respective AirFunders Retailer.

“Transfer Event”

means the occurrence of any of the following events:

  1. the termination of the Account Holder’s account with AirFunders;

  2. the Account Holder becomes insolvenct;

  3. The AirFund is wound up;

  4. the withdrawal of funds by the Account Holder from the Account Holder’s account with AirFunders: or

  5. any other transfer of funds from the Account Holder’s account with AirFunders.


means a member of the AirFunders programme.

“Outstanding Confirmed Purchases”

means any Confirmed Purchases which have not been issued an AirFund Bond.

“Rewards Providers”

means the companies involved in the supply and administration of the AirFund from time to time.

“AirFunders Bonds”

means the bonds issued by AirFunders Ltd on a pound for pound basis whose coupon is calculated on basis of the Allocation Formula.

“AirFunders Retailer”

means the suppliers and sellers of goods and services that you make purchases from who pay commission to AirFunders. Each AirFunders Retailer applies different terms and conditions to the offers they include on our Website, and we kindly refer you to their respective terms and conditions.



AirFunders is available to anyone aged 18 years of age or over. Membership of AirFunders carries a monthly service charge of £1 per Member (the “Service Charge”). All charges will be part of active members cash back entitlements where active participation is adequate to make such membership charges.

You agree to provide us with the relevant information we need to set up and administer your account and that this information will be complete and accurate about you and updated from time to time as appropriate.

Rewards received from other reward programmes shall be transferable to your AirFunders account where such agreement exists with another loyalty or cash back operator.

One account is allowed per person. If a third party uses your bank account and earns AirFunders Bond those AirFunders Bonds will be credited to the account as if you had made the transaction yourself.



By joining AirFunders, you will be able to build up an entitlement to AirFunders Bonds on a range of purchases and transfers of other loyalty and cash back entitlements. You will also be able to contribute for the benefit of those less fortunate than yourself. You will be able to track the growth in your entitlements over time within the member area of the website.

AirFunders Bonds will be issued in batches of £100. The value of AirFunders bonds will be linked to the to the investment performance of the funds which are invested for long term growth with FCA regulated investment managers.Where your aggregate account value of AirFunders bonds is less than £100 at the occurrence of a Transfer Event, those amounts shall be retained within your account..


Only amounts in £100 batches may be redeemed for AirFunders Bonds. It is not possible to join / link two AirFunders accounts together, so rewards held in an AirFund account are specific to the individual that owns that account.



What are AirFunders Bond based on?

As an AirFunders account holder you can earn Bonds from your Confirmed contributions to AirFunders from participating Retailers and where possible the transfer of rewards from other digital wallets.

The transactions you make are not with us but with participating retailers.


loyalty payments, commissions and cashback is paid by the retailers and their tracking agencies for your applicable transactions, where the credit can be traced directly to your account by means of an identification tag provided in the reports of the retailers and their tracking agencies. Such cashback is (where applicable) credited to you in the form of AirFunders Bonds, subject to your preferences, and the allocation formula. Tracking of transactions can fail due to a number of factors – please do not make decisions on purchases based upon AirFunders Bonds as it is not guaranteed that any or all purchases will be tracked correctly. Please refer to section 7 ‘What can stop you from earning AirFunders Bonds’ below for more details.

Cashback paid will vary from time to time and AirFunders processes . As this cashback is converted into AirFunders Bonds in accordance with these Terms and Conditions this means The AirFunders Bond offer illustrated on our Site may be incorrect. Reasonable care is taken to ensure that the cashback data provided on this Website is accurate and up to date. However, we give no warranty as to the accuracy of any cashback data on the Website and do not accept liability for any errors or omissions; neither do we accept liability for any resulting damage or loss. By default, your applicable transactions will be credited in line with the cashback reported to us by the AirFunders Retailer as Confirmed Purchases, which may be more or less than the advertised rate. Some retailers pay Cash Rewards on the purchase amount inclusive of tax and / or delivery charges and some retailers exclude these values for the purpose of calculating and awarding cashback.

When a transaction has been tracked to your account and subsequently confirmed by AirFunders Retailer as a Confirmed Purchase, we will show the amount as a credit on your account to be converted into AirFunders in accordance with these Terms and Conditions. If the goods are returned or the sale reversed or amended by any means, then the amount shown as a credit in your account will be amended accordingly.

We reserve the right to at any time reclaim or make balance adjustments accordingly where it has been established that any credit has been applied in error. This will include, but is not limited to, transactions where the credit is not genuinely due, or pay out for any credited transaction has not been received from an AirFund Retailer or its agencies.

AirFunders Bonds shall be priced in accordance with the daily Net Asset Value of investments made in the name of The AirFund with appointed FCA regulated professional entities.

By registering a payment card in connection with transaction monitoring, you authorise AirFunders Ltd to share your payment card information with Visa, MasterCard, Open Banking service providers and other necessary payment service providers (“Payment Service Providers”) to confirm your enrolment. You authorise the Payment Service Providers to monitor transactions on your registered card(s) and account(s) to identify purchases in order to determine whether you have qualified for an offer linked to your payment card, and for the Payment Service Providers to share such transaction details with AirFunders Ltd to enable your open banking or card-linked offer(s) and target offers that may be of interest to you.

You may opt-out of transaction monitoring on the payment card(s) and account(s) you have registered at any time by sending a request via the Support section of the Website or removing your card details from the “Accounts” page of the Website.


There are a number of factors that can result in purchases you made with participating retailers not being credited to you as Confirmed Purchases which will affect the number of bonds in The AirFund you will be entitled to. For this reason, please do not make decisions on purchases based upon Confirmed Purchases or bonds in The AirFund as neither are guaranteed.

The following is a non-exhaustive list of examples of reasons why Confirmed Purchases may not have been credited to your account:


  1. If your account is terminated or disabled for any other reason, then your cashback rewards, Outstanding Confirmed Purchases creating AirFunders bonds will be forfeited and any further transactions which could otherwise have been credited to your account will not be deemed eligible forAirFunders bonds.

  2. Cashback rewards and Confirmed Purchase status may be declined if the transaction is paid for using points, savings, promotional discount codes, or any other form of currency or credit earned via a loyalty scheme.

  3. We cannot be held responsible if the AirFunders Retailer fails to accept your sale as invoiced by us. AirFunders  Retailers have their own rules upon which they determine transactions to be genuine. For example, an attempt to simply earn each month by clicking / registering with no intention to continue to use / buy from their website could be deemed as non-genuine. Or, if The AirFunders Retailer decides that your use or purchase (whether tracked or not) was deemed to have been provided by another website (such as, but not limited to, a comparison site or a search engine) then your transaction may not be applicable and will not earn bonds in The AirFund. These rules may or may not be advertised by ourselves or the retailer and may be discretionary.

  4. If you are associated with more than one AirFund account (e.g. another family member’s account) then allowed transaction recurrences may be determined across these multiple accounts as part of fraudulent usage prevention.

  5. Where a reward has been successfully paid by a participating retailer, you may receive a lower amount than expected, this may possibly be due to the amounts received by us being lower than the original claim.

  6. Certain repeat purchases also may not qualify for AirFunders bonds. Whilst we will use reasonable endeavours to recover non-payouts, the participating retailer or their tracking agent’s decision is final. We reserve the right not to chase missing reward claims, particularly where no purchase has been made. If a participating retailer still has not paid a manual cashback claim to us after a period of 3 months, then we reserve the right to close the query.


For the avoidance of doubt and notwithstanding any other provision in these Terms and Conditions or the retailers website, you agree that, in all circumstances, the issue of AirFunders bonds  is at our sole discretion and further we may refuse to issue AirFunders bonds to you for any reason including, but not limited to, your non-compliance with these Terms and Conditions, non-pay out or late pay out of cashback rewards by the participating retailer.




Your AirFunders Bonds are redeemable from time to time to a personal pension , the details of which will be supplied to AirFunders or to a pension which AirFunders may assist you in creating. In accordance with the Allocation Formula. there will be opportunities, at the discretion of the company to transfer your entitlement to another AirFunders member as nominated by yourself.

When your AirFunders bonds mature they will automatically be paid out to the bank account you have registered with us. This amount will be paid out as income in the tax year that the payment is received. I


By joining AirFunders you agree to receive service emails from us These are important communications that form an essential part of your membership of AirFunders.

At the point of sign-up, you are also given the choice to opt-in to receive electronic marketing (for example via emails) from us, featuring rewards offers and updates designed to help you get the best experience from AirFunders. You can choose to subscribe or unsubscribe from these marketing communications at any time by clicking the unsubscribe link at the bottom of any of our offer emails.

Should we be contacted by authorities or others in relation to transactions or purchases relating to you or your account (for example, for fraud prevention purposes), you agree to provide all appropriate assistance and information, in an accurate and prompt manner, that we may need to allow us to reply to that contact. Failure to comply with any such requests may lead to your account being closed and any Outstanding Confirmed Purchases or cashbacks being lost.


Account closures by you

You may close your AirFunders account at any time. To make this request, please contact us at Any Outstanding Confirmed Purchases credited to your account will be forfeit and you will not be able to redeem these for AirFunersd Bonds.

Changes or closure of the AirFunders programme

We reserve the right to modify the AirFunders programme at any time without prior notice. We will inform active Account Holders of any significant changes to the programme.

If the AirFunders programme is terminated, we will notify active Account Holders. If you have any Outstanding Confirmed Purchases credited to your account, you can request these to be redeemed to AirFund Bonds only. To allow for purchases to become confirmed, any remaining Outstanding Confirmed Purchases and cashback credited to your account 90 days after our notice of the programme being terminated, will automatically be redeemed for AirFunders Bonds to the extent that the total Outstanding Confirmed Purchases are more than £100 and sent to the Account Holder.s personal pension. Any confirmation of purchases and cashback that remain pending at that point will no longer be available and the account will be closed.


Right to refuse membership and / or close your account

We reserve the right to refuse membership for any reason. We are also entitled to or close your account, if, in our sole opinion, the Account Holder:

  • is acting fraudulently, dishonestly or being threatening or abusive;

  • marks our emails as abusive, junk or spam;

  • has not been active with the account for a period of 3 years;

  • is in breach of either these Terms and Conditions and / or the terms and conditions of the Website.

We shall be entitled to retain within The AirFund any cashback left in an account that is closed for any of the above reasons.



Please ensure you keep us updated if your contact details change, particularly your email address.


We are here to help resolve your complaint. If your complaint relates to your personal data, please see our Privacy and Cookie Policy.

If you want to share any compliments, complaints or feedback, please contact a member of our team. We aim to respond to complaints within 2 working days.

If you wish to contact us in writing, please use the following address:


AirFunders Ltd

4 Hope Street

Edinburgh EH2 4DB


Re: AirFund Complaint


In performing our obligations to you under this agreement, we will exercise reasonable skill and care, but we do not guarantee that the AirFund service will meet your requirements.


  1. Third parties

AirFunders utilises Open Banking and for this it uses third party account information service providers. Other selected third parties may be involved in the supply of The AirFunders services. These third party service providers, (collectively the “Rewards Providers”) are not agents or partners of AirFunders Ltd, and are not responsible for the goods and services offered by participating retailers. Accordingly, AirFunders Ltd are not responsible for any default or failure in respect of any goods or services offered to you by any participating retailers or Rewards Providers. You acknowledge that your obtaining Confirmed Purchases is subject to the individual reward terms and conditions of participating retailers that apply to such Confirmed Purchases.

We have no control over the contents of any third-party website including websites to which we link or refer to and all such websites are accessed at your sole risk and in accordance with any restrictions imposed by the relevant third party.

  2. Our liability

We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation.

  3. Limitation of liability

Subject to the above, we do not accept any responsibility or liability (whether in contract, tort (including negligence), misrepresentation, restitution or otherwise) for any loss or damage you may incur:

  • for any transactions that you may undertake with third parties, including AirFunders Retailers or Rewards Providers, through this Website;

  • for the default of any merchant, supplier or retailer in respect of any transaction that you may have undertaken through this Website;

  • for any loss of business or profits, revenue anticipated savings or profits;

  • any indirect, special or consequential loss, damage or other claims, howsoever caused or arising;

  • due to the accuracy or content of any product / service reviews displayed on our Website or on any other website that you may access via our Website;

  • arising from an inability to use or access our Website;

  • arising from relying on the data transmitted using the Site where such losses or damages are caused by any event beyond our reasonable control (such as the transmission of data over the internet);

  • for any losses arising out of or in connection with any third party claim against you which has been caused by our act or omission. For these purposes, third party claims shall include, but not be limited to, demands, fines, penalties, actions, investigations or proceedings, including (but not limited to) those made or commenced by regulators or any other parties;

  • for any wasted expenditure; or

  • arising out of loss of use or corruption of software, data or information.


Where we are found to be liable to you, our total liability (regardless of how many claims are brought) shall be the total value of The AirFunders bonds you received during the previous 12 month period from when a claim is brought.

Except as expressly stated elsewhere in these terms, all representations, warranties, conditions and other terms whether express or implied are hereby excluded to the fullest extent permitted by statute and law.

You agree that our total aggregate liability for any loss, damage or other liability, whether in contract, tort (including negligence), breach of statutory duty or otherwise, arising out of or in connection with these Terms and Conditions (including our provision, and your use, of The AirFund programme) shall in all circumstances be limited to £1,000 (one thousand pounds, GBP). Your rights as a consumer are not affected.

This clause 11 shall survive termination of your account.



These Terms and Conditions, the Terms of Use of the Website, our Privacy Policy and Cookies Policy, [form the entire terms between us and you for the use of The AirFund including any restricted and password-protected area. We may offer personalised areas to allow you to review information and your rewards.



Our failure to enforce your strict performance of any provision in these Terms and Conditions will not constitute a waiver of our right to subsequently enforce such provision or any other provision of these Terms and Conditions.

By accessing the Website you consent to these Terms and Conditions (as amended from time to time) and to the collection of and use of your personal data in accordance with these Terms and Conditions, and the Privacy Policy and Cookies Policy.

If any part of these Terms and Conditions is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most correctly matches the intent of the original provision and the remainder of these Terms and Conditions shall continue in effect.



AirFunders Ltd reserve the right to transfer our rights and / or our obligations under these Terms and Conditions to any another entity and to appoint an alternative supplier in place of AirFunders Limited to operate the AirFund programme.

You need our consent to transfer your rights to someone else. You may only transfer your rights or your obligations under these Terms and Conditions to another person if we specifically agree to this in writing.


We reserve the right to amend and update these Terms and Conditions from time to time. Please regularly refer to these terms when you use the Website to ensure that you are familiar with the current applicable terms.



The terms of this agreement and our relationship with you, is governed by the laws of Scotland. If you want to take legal action against us, you can only issue that legal action in a Scottish court.

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