Terms of Use

Terms of Use concerning Mandatum’s websites and electronic services (valid as of 15 Jun 2022)

1. General information on the terms of use

These terms of use (hereinafter “Terms of Use”) apply to users of Mandatum Group companies’ websites and electronic services (“Service”). In these terms and conditions, “Web Service” or “Web Services” shall mean an electronic service requiring authentication, including the mobile apps and desktop apps offered by Mandatum Group companies.

The users of Mandatum’s Service mentioned above are the customers of Mandatum Group companies (“Mandatum”). Mandatum offers its Web Services to the customers of Kaleva Mutual Insurance Company ("Kaleva") to the extent where Mandatum handles insurance matters on behalf of Kaleva.

Mandatum Life Services Ltd offers pension services to certain pension funds, whereby the persons who belong to these funds can be users of the Services. Mandatum Life Services Ltd also offers reward services to personnel funds, whereby the members of the personnel fund can be users of the Services. The representative of corporate clients is a user of the Services as referred to in these Terms of Use when he/she acts on behalf of the company he/she represents.

The Mandatum Trader service is an investment service that is based on Saxo Bank A/S’s (“Saxo”) trading technology and which is offered by Mandatum Life Services Ltd to all Finnish investors. Mandatum Life Services Ltd identifies Mandatum Trader service users through the Web Service and forwards the identifying information to Saxo.

In addition, these Terms of Use can be applied to the online services of other Mandatum Group companies than those mentioned above. If these Terms of Use are applied to third party services, the third party shall be explicitly named.

2. Committing to Terms of Use

The user of the Services must carefully familiarise him-/herself with these Terms of Use prior to using the Services. By using the Services the user of the Services commits to complying with these Terms of Use. The use of the Services is not permitted if the user of the Services does not accept the Terms of Use. When visiting the Web Service for the first time, the user of the Services approves the Terms of Use in force at any given time. Using the Service can take place using applicable data terminals connected through data connections such as desktop computers, laptops, tablets and smart phones. The Services made available for use on various data terminals can differ from one another in both content and functions. Mandatum’s websites (www.mandatumlife.fi, www.mandatumtrader.fi and www.mandatumam.com) provide advice related to the requirements for data terminals.

The user agrees to abide by the terms and conditions and instructions of Mandatum and other service providers when using the services of another service provider and when making a contract with another service provider, if the other service provider’s service is offered on Mandatum’s Web Services or through them.

The Terms of Use for the Web Service are not a part of the insurance contract or another service contract in which the user or a person for whose benefit the contract has been made is a party. With respect to a service that is used in the Web Service, the terms of the insurance contract concerning the service in question and other contractual terms shall be primarily applied.

3. General information about the website and Web Service

The following is a presentation of the various communication channels that these Terms of Use apply to. The user of the Services must note that Mandatum does not recommend sending personal data in messages that are sent through open networks, such as chat messages or unsecured email. The user of the Services must avoid writing sensitive information in open text fields also when using secured connections, except where a field is intended for the information in question, for example a claim application.

3.1 Website

The websites provide information on the Mandatum Group companies and their services and the opportunity to provide feedback and contact the companies. The websites contain, for example, additional information about the processing of personal data.

3.2 Web Service

The Web Service is a service package, produced by Mandatum, that makes it possible for the user of the Web Service to use the services as an authenticated private individual or as a representative of a corporation.

3.3 Mobile app

The table Contact channels and users in section 1 shows the applications through which the Services’ user can use the Services as a private individual or representative of a corporation on a tablet or smart phone. The user of the Services can begin using the mobile app if he/she has a valid online service contract.

3.4 Chat messages

Mandatum offers chat communication through a number of electronic services. In the Web Service, user communication takes place following authentication. The identity of a person is not verified when he/she uses the Services through open websites.

3.5 Devices, programs and data connections

The user of the Services purchases, at their own expense, the data terminals, software, passwords and data connections required for the use of the Web Service and the website, and is responsible for their usage and maintenance costs, functionality and compatibility with the Web Service and the website. Mandatum and the user of the Services are each responsible for the appropriate information security of their own data systems. The user of the Services must ensure that the data terminals, programs and data connections used by it are secured against unauthorised use and prevent the identification data for the Web Service or data included in the Web Service from becoming disclosed.

Mandatum shall not be liable for damage resulting from data that is lost or altered in public data networks or the data network or data terminal used by the user of the Services. Mandatum reserves the right to interrupt the offering of services if the data terminals, programs or data connections used by the user of the Services cause a threat or disturbances to the functionality of Mandatum’s information systems or the security of the Web Services.

4. Special conditions for the website

4.1 Availability of the website

The websites are available to the extent offered by Mandatum at any given time. Mandatum does not guarantee the reliability or accuracy of the websites or the uninterrupted or faultless availability of the websites. Mandatum reserves the right to limit the use of the websites and to make changes to the websites.

4.2 Links to websites offered by a third party

Mandatum’s websites may contain links to pages owned or maintained by third parties. When accessing such websites, the user of the Services must read the possible terms of use and accept them before starting to use the sites. When transferring to a linked site, the user of the Services also accepts that the site is not managed by Mandatum and that Mandatum has no control over the content of the material created or published on this site. Mandatum is not liable for any of the material contained on the pages of third-party websites.

The inclusion of a third-party link that is not related to Mandatum on Mandatum’s websites does not in any way indicate that Mandatum holds an opinion on the products or services included on these sites.

5. Special conditions for the Web Service

5.1 Use of identifiers

Mandatum identifies a user when he/she uses the Web Service at the addresses www.mandatumlife.fi and www.mandatumtrader.fi and in the mobile apps offered by Mandatum at any given time using identifiers approved by Mandatum. The use of the identifiers corresponds to the traditional identification of the customer from a document establishing his/her identity.

The prerequisite for the use of the Web Service is that the user of the Services has the required user-specific banking identifiers or other identifiers approved by Mandatum.

If Mandatum offers applications for the use of the Web Service for a data terminal other than a computer, such as a smart phone or other mobile device, the user must use the method for logging in to the Web Service that has been approved by Mandatum. When the user first logs in to the mobile app, he/she must use the user ID created by Mandatum and create a password for the service, which meets Mandatum’s requirements. With devices approved by Mandatum, the user is additionally able to take into use biometric identification. Prior to biometric identification, the user shall approve the terms and conditions for biometric identification.

The user is responsible for all orders and messages that have been made or sent with the user’s identifiers. Identifiers provided in the manner required by the Web Service are equal to the user’s signature. All orders such as applications, contracts, messages sent through the Web Service and other expressions of intent that have been made in the Web Service are binding on the user and the party that the user represents.

The user commits to carefully storing the identifiers according to the instructions from the bank that has granted the identifiers or according to the instructions of Mandatum or another service provider.

The user shall be liable for the unauthorised use of the Web Service’s identifiers if:

1) The user has surrendered the Web Service identifiers or a device that allows access to the Web Service;

2) The disappearance of the Web Service identifiers, their ending up in the hands of a third party without authorisation or their unauthorised use results from negligence on the part of the user; or

3) The user has neglected the duty to report to the service provider that granted the identifiers (for example the bank that granted the identifiers, another provider of the identifiers or Mandatum) the disappearance of the Web Service identifiers, their ending up in the hands of a third party without authorisation or their unauthorised use without undue delay after having become aware of such event.

If the user of the Services has reason to believe that the identifiers, the secret PIN code connected to them or a device has been lost or ended up in the hands of a third party, he/she must follow the instructions given by the service provider that granted the identifiers and those given by Mandatum. The service provider that granted the strong electronic identification means is responsible for disabling it.   

The user of the Services is responsible for any unauthorised use of the identifiers until the identifiers have been disabled by the bank that granted them, Mandatum or by another service provider. The user of the Services can disable the mobile service identifiers granted by Mandatum in the Web Service’s “My account” page. Disabling the bank’s or other service provider’s identifiers does not automatically prevent the use of mobile service identifiers granted by Mandatum. The user of the Services can request the disabling of the identifiers granted by Mandatum by calling customer service during the customer service’s opening hours.

When using biometric identifiers, the identification of the user takes place on the user’s data terminal. The biometric identifier is not forwarded or saved on Mandatum’s systems, nor can Mandatum disable biometric identifiers on the user’s data terminal. Disabling biometric identifiers is the responsibility of the user.

Mandatum recommends that users read the information security guidelines, which can be found on Mandatum’s website and the current mobile app.

The customer can communicate with Mandatum by post, email, telephone or through the Web Service. Mandatum never asks for the personal information, such as ID numbers, social security numbers or online banking codes of the user of the Services by email. Mandatum also never sends emails that link directly to the log-in page of the Web Service; Mandatum instructs its customers to always access the Web Service via the company’s website.

Customer service provides assistance in problem situations.  

5.2 The availability of the Web Service and suspension of service

The Web Service is available for the user of the Services on different data terminals to the extent offered by Mandatum at any given time.

The orders given by the users of the Services to Mandatum are executed in the order in which they are received. Any new orders connected to the same agreement, such as fund transfers for unit-linked insurance, cannot be executed before the previous order has been fully completed. Otherwise the execution of orders will follow the insurance- or service-related terms of agreement.

Mandatum and third parties whose service Mandatum offers access to do not guarantee that the Web Services will be available to the user without interruption.

Mandatum has the right to restrict or terminate the use of the Web Service for planned maintenance and repair operations without prior notice. Mandatum endeavours to report predictable maintenance breaks or other suspensions of service well in advance. Maintenance work carried out on systems can cause service disruptions; information about the service disruptions is given on the Service. The use of the Service can, however, be temporarily unavailable due to a disturbance or other similar reason in which case Mandatum will endeavour to report the service disruptions as soon as possible.

Mandatum has the right to make changes to the service selection, extent of the services, demands of the used data terminals and contents. Mandatum shall report any changes in the Web Service.

Mandatum has the right to interrupt its offering of the Web Service and leave an order placed with Mandatum unfulfilled, if:

• the user of the Services does not abide by the terms and conditions that apply to the Web Service,
• the user of the Services/the customer is subject to an international sanction or a national decision to freeze assets,
• the customer does not provide, despite Mandatum’s request, the customer due diligence information required by legislation,
• the customer is placed in debt restructuring for individuals or companies or is declared bankrupt, or the customer’s business has been entered in the Trade Register as terminated,
• the user of the Services dies, his/her legal capacity is limited or he/she is declared legally incompetent,
• there is reason to believe that the data terminals, software or data connections of the user of the Services endanger the Web Service’s security,
• the user of the Services has reported that unauthorised use has been made of his/her passwords in the Web Services or that they have presumably ended up in the hands of third parties,
• another user of the Services/customer has withdrawn the authorisation granted to the other,
• there is reason to believe that the Web Service is used for illegal action or otherwise in a way that may cause damage or harm to the user of the Services, Mandatum or third parties, or
• an evident misstatement is related to the identification means.

Mandatum shall report to the user of the Service if the Service is unavailable and if an order has not been executed or processed as soon as possible once it is aware that it has become unavailable, if this is warranted for the prevention or limiting of damage. A report is not made if making the report would endanger the reliability or security of the Web Service or if making it is prohibited by law.

The Web Service is available to the user until his/her access to the Web Service is prevented.

5.3 Communication with the user

When necessary, Mandatum has the right to send messages to the user of the Services, to the email address or mobile phone number given by the user of the Services. A message sent by Mandatum is considered to have been received when the message has been delivered electronically or has been sent in another appropriate way.

Saxo’s notifications and messages are not forwarded to Mandatum’s Web Services; customers of Saxo’s trading platform should monitor Saxo’s communications in accordance with Saxo’s instructions.

The confidentiality of messages sent through an open data network cannot be guaranteed. Mandatum shall not take any responsibility for any damage caused by messages sent through an open network.

5.4 Responsibility for using the services

The user is responsible for all operations that have been performed in the Web Service using his/her identifiers. The content of the operations performed and messages sent in the Web Service are considered to be the same as those that have been saved in the information system of Mandatum. If the information sent by the user is destroyed, the user must, on request, give new information. Using all reasonable means possible, the user must ensure that the material sent does not contain malware and that it is not otherwise harmful.

The sending and arrival of an offer, response, announcement or other message through the Web Service to the recipient is the responsibility of the sender. The time that an order, application or agreement is made and other transactions are verified with the help of the information system maintained and/or a telephone conversation recorded by Mandatum.

Mandatum is not responsible for any damage caused by errors or deficiencies in the identification or contact information given by the user of the Services or in the information related to actions taken in the Web Service, or any damage that may have been caused to the user of the Services resulting from the loss or alteration of information in a data network.

5.5 Complaints and requirements concerning the service

If the user has any complaints, he/she must make them in the Web Service to Mandatum without delay and no later than 30 days from the time he/she has noticed or should have noticed the basis for the complaint. If the complaint is not filed within this specified time limit, the user of the Services is considered to have accepted the measure. The complaint must be made as specifically as possible by sending the message through the Web Services or by calling Mandatum’s customer service.

5.6 Service prices

Mandatum has the right to determine a service fee or other corresponding fee for the Web Services by informing of the fee at least 30 days before it enters into force.

If the agreements or services that the user uses in the Web Service are subject to handling fees or other fees defined in the terms of agreement, price lists or elsewhere, Mandatum has the right to choose to either collect the fees directly from the insurance savings or to invoice the customer, subject to other agreements. Third-party service providers are entitled to charge fees for the use of their services in accordance with the applicable terms and conditions.

5.7 Trader securities trading service

The user can access the Mandatum Trader service at the address www.mandatumtrader.fi and the Mandatum Trader mobile app or Mandatum Trader desktop app. The user of the Mandatum Trader service is identified when the user logs in to the Mandatum Trader service using identifiers approved by Mandatum (see section 5.1). The use of the trading platform of the Mandatum Trader service requires that the user has a contractual relationship with Saxo. When Mandatum has identified a user, he/she will be transferred to the Mandatum Trader service’s trading platform.

If the user has technical problems with the Mandatum Trader service, the user should primarily contact the Mandatum Trader customer service.

The user accepts that Saxo is a third party in relation to Mandatum. Mandatum is not responsible for the services produced by Saxo, the trading platform or the actions of the service user. These Terms of Use apply to the Mandatum Trader service until the user has transferred to Saxo’s trading platform.

6. Mandatum’s liabilities

The information concerning the products or services presented on the websites or in the Web Service is a general representation and cannot be construed as a binding offer by Mandatum, or as investment advice or any other binding representation.

Mandatum is not liable for possible damage, loss of profit or interruption of business caused by the websites or the Web Services offered on the websites, services offered by third parties or an interruption of the services, even if the possibility of this kind of damage has been reported to Mandatum. Mandatum’s maximum liability is that enforced by peremptory norms of Finnish legislation. The user of the Service is responsible for the financial results of the investment operations.

Mandatum is not responsible for any inoperability of identifiers required by the Web Service or any other damage related to identifiers.

The websites and the Web Service are intended a) for legally competent private customers over the age of 18 permanently residing in Finland, b) for private individuals covered by Mandatum Life Services Ltd’s Pension Services or Reward Services, c) for corporate customers registered in Finland and (d) for customers of the Mandatum Trader service.

Due to restrictions related to market data information provided by third parties, access to market price quotations possibly available on the Web Service shall be prohibited to persons or corporations residing or operating in Australia.

Insurance policies and the related investment baskets, products and services managed by Mandatum are not intended for United States residents or organisations operating there.

The market price quotations of investments displayed in monthly reports and other customer materials are only for the personal use of Mandatum’s customers as information regarding the performance of the insurance contract; they may not be distributed to third parties or used in connection with other investments. Mandatum’s customer is aware that the service providers used by Mandatum are, in this context, third parties that do not, in any situation, bear responsibility towards nor are they liable to pay indemnity to Mandatum’s customer. Mandatum is not responsible for the contents and availability of the services provided by such third parties or the accuracy of the information it has provided.

Mandatum is not liable for damage caused by a force majeure or other similar reason. This kind of force majeure could be, for example, a measure taken by authorities, terrorist attack, war, cyber-attack or a threat thereof, industrial action, general power failure or interruption in a data communication network, disturbance in the distribution of post, in automatic data processing, data transfer, other electronic communications or any other reason that unduly hinders the operation of Mandatum and over which Mandatum has no influence.

7. Processing of personal data and saving data

Mandatum is entitled to save data concerning the user’s contact with the Services and online transactions taking place on different data terminals in its data systems and process the data for, among other things, managing customer relationships, the confirmation of online transactions, identifying the user of the Web Services, for improving the Web Services and marketing the services.

Mandatum collects, processes and analyses data related to the Services’ use, traffic, events and other transactions.

The user of the Services bears the responsibility of having the right to disclose personal data through the Web Service to Mandatum if the user is using the Services on behalf of another person or corporate customer.

Should a user of the Services wish to send Mandatum a secure message or a message containing information concerning the customer relationship, Mandatum recommends sending the message through the Web Service or by post.

Mandatum can disclose the user’s data to other service providers if the user uses the services of the service provider in question and disclosure of the data is necessary for identifying the user, carrying out the service transaction or confirming it or for confirming Mandatum’s liabilities.

Mandatum may, to the extent permitted by law, disclose information concerning a user to other organisations belonging to the Mandatum Group or to the same financial and insurance conglomerate or financial group. In order to carry out its legal obligations concerning tax reporting, Mandatum can disclose necessary customer data on the user received for tax reporting, such as country of birth, nationality and general tax obligation, to companies belonging to the Mandatum Group and Kaleva and the personnel funds it manages. Mandatum’s right to disclose data applies to users who are customers of Mandatum Group companies or Kaleva and members of the personnel funds managed by Mandatum.

Mandatum’s website www.mandatum.fi/privacy contains more information on personal data processing and the use of cookies.

8. Intellectual property rights and the right to use the website and Web Service

Mandatum shall grant the user of the Service a personal right to use the Web Service if the user commits to abiding by the web service terms.

The websites and Web Service contain material that is covered by intellectual property rights. All rights that are not specifically granted to the user of the Services by these Terms of Use belong to Mandatum or third parties. Copying, transferring, linking, distributing, altering, storing of the pages’ or Services’ content or parts of it in any form whatsoever or utilising it in any way for commercial purposes is forbidden without prior written permission from Mandatum. Viewing the websites using a data terminal and printing are permitted only for personal use.

The distribution and publication of the contents of Mandatum’s websites are forbidden without separate written consent.

The use of press releases and other public documents for public transfer of information is permitted provided that the source of the information is mentioned. If the user of the Services downloads or copies information from the website, he/she commits to not removing from the material any possible markings or identifiers that show the origin of the intellectual property rights, such as copyright markings.

9. Changing and transfer of the Terms of Use

Mandatum has the right to change these Terms of Use and the agreement on the Web Services, possible special conditions related to the services, the content of the services and the service selection.

Mandatum shall provide notification of changes on its websites and in the Web Service at least 30 days before the entry into force of the new terms. The user of the Services is considered to have received notification from Mandatum at the latest on the seventh (7) day from the day the notification is made available to the user of the Services in the Web Service or on the websites.

The changed Terms of Use also apply to agreements entered into before the validity of these terms. The user of the Services is considered to have accepted a change if he/she uses the Web Service or the websites after the change. If the user of the Services does not accept the changed terms, he/she cannot use the Web Service. Mandatum is entitled to assign these Terms of Use and service terms and conditions to a company belonging to the Mandatum Group at any given time and to decide which services offered by a Mandatum Group company or third party are covered by the Terms of Use.

Mandatum is entitled to transfer Mandatum’s rights and obligations as specified in the Terms of Use to a third party. The customer is not entitled to transfer to a third party their rights or obligations as specified in the Terms of Use or contract without Mandatum’s approval.

10. Customer guidance and external legal recourse

For questions related to the services provided through the Internet and the related terms and conditions, the user of the Services should primarily contact Mandatum’s customer service.

Consumer customers can take any disputes concerning these Terms of Use to the Finnish Financial Ombudsman Bureau (Fine, www.fine.fi) or the Consumer Disputes Board (KRIL, www.kuluttajariita.fi).

The European Commission also offers an Online Dispute Resolution forum, specifically intended for consumers living in another EU country, at the address http://ec.europa.eu/consumers/odr.

11. Applicable law and venue

These Terms of Use are governed by Finnish law.

Possible disputes shall be resolved in the Helsinki District Court. The consumer is also entitled to institute legal proceedings in the district court of his/her domicile in Finland.

If there is a conflict between different language versions, the Terms of Use and service-related information in the Finnish language will be applied.

12. Details of the companies providing services