These Terms and Conditions (referred to here as T&Cs
) are the business conditions of UAB "TransferGo Lithuania", company code 304871705, with a registered office at Palangos str. 4, Vilnius, Lithuania (hereinafter referred to as the Company
), and the conditions and procedure for the provision of payment services and related services. They establish the rights, duties and responsibilities of the Customer and the Company in relation to payment services.
These T&Cs will apply to all relationships between the Company and the Customer that arise from the provision of services.
The Company has been issued with an electronic money institution license by the Bank of Lithuania, authorization code LB000461, license number 36, dated 10/07. The Company is supervised by the Bank of Lithuania located at Gedimino pr. 6, LT-01103, Vilnius, Lithuania, telephone no. +370 800 50 500. More information about the Bank of Lithuania can be found here: https://www.lb.lt/en/. Data about the Company is collected and stored at the Register of Legal Entities of the Republic of Lithuania.
Before using the services of the Company as described below, the Customer shall agree to these T&Cs, which form a legally binding contract between the Customer and the Company.
The information in these T&Cs is based on the Company's understanding of the current law and practice at the time of going to press. Future changes in legislation, regulatory compliance, tax levels and practice could affect this information.
The following terms in these T&Cs or any document referred to within it are defined as follows:
- Account – the electronic money and payment account the Customer has opened or is about to open with the Company;
- Account information service – an online service used to consolidate information on one or more payment accounts held by the payment service user with one or more payment service providers;
- Account information service provider – a payment service provider pursuing business activities referred to in Clause 2 of Section I of these T&Cs
- Account servicing payment service provider – a payment service provider providing and maintaining a payment account for a payer;
- API - a publicly available technical interface that interconnects account servicing payment service providers, payment initiation service providers, account information service providers, and other payment service providers, payers and payees, drawn up in accordance with a delegated act adopted by the European Commission, as referred to in the article 98 Part 1 Point ‘d’ of the Directive (EU) No. 2015/2366;
- Authentication – a procedure which allows the Company to verify the identity of a payment service user or the validity of the use of a specific payment instrument, including the use of the user’s personalised security credentials;
- Business day – a day on which the Company provides its services, set by the Company. A Business day is not a Saturday, Sunday or other national holiday, as set forth by the legal acts of the Republic of Lithuania or the Payee’s or Payer’s country;
- Commission fee – a fee applied by the Company for the payment transaction and/or related services
- Consumer – a natural person who operates under these T&Cs and does not pursue aims which are not consistent with business, commercial or professional activity of this person;
- Customer – a natural or a legal person who uses or has requested to use the services provided by the Company as the payer and/or the payee;
- Customer’s Account – the Customer’s profile opened in the Company’s system, enabling initiation and/or monitoring of all payment transactions and being the basic means of communication between the Customer and the Company;
- Durable medium – any instrument which enables the payment service user to store information addressed personally to that payment service user in a manner accessible for future reference for a period of time adequate to the purposes of the information and which allows the unchanged reproduction of the information stored;
- Electronic money – electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions as defined in point 5 of Article 4 of Directive 2015/2366, and which is accepted by a natural or legal person other than the electronic money issuer;
- Funds – banknotes and coins, scriptural money or electronic money;
- Party – the Customer or the Company;
- Password – a static alphanumeric string being a part of the strong authentication data, exclusively determined by the Customer. The Company shall neither have access to the password, nor request it from the Customer at any time;
- Payee – a natural or legal person who is the intended recipient of funds which have been the subject of a payment transaction;
- Payer – a natural or legal person who holds a payment account and allows a payment order from that payment account, or, where there is no payment account, a natural or legal person who gives a payment order;
- Payment initiation service – a service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider;
- Payment initiation service provider – a payment service provider pursuing business activities as referred to in clause 19 of this Section I of these T&Cs
- Payment instrument – a personalised device(s) and/or set of procedures agreed between the payment service user and the payment service provider and used in order to initiate a payment order;
- Payment order – an instruction by a payer or payee to its payment service provider requesting the execution of a payment transaction;
- Payment service user – a natural or legal person making use of a payment service in the capacity of payer, payee, or both;
- Payment transaction – an act, initiated by the payer or on his behalf or by the payee, of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the payer and the payee;
- Personalised security credentials – personalised features provided by the payment service provider to a payment service user for the purposes of authentication;
- Services – the services provided by us under these T&Cs
- Strong customer authentication – an authentication based on the use of two or more elements categorised as knowledge (something only the user knows), possession (something only the user possesses) and inherence (something the user is) that are independent, in that the breach of one does not compromise the reliability of the others, and is designed in such a way as to protect the confidentiality of the authentication data;
- Statement – a document prepared and provided by the Company, which includes information about payment transactions executed during the specific period of time;
- Third party – any person, other than the Customer and the Company;
- T&Cs – these Terms and Conditions and its annexes, if any.
- Unique identifier – a combination of letters, numbers or symbols specified to the payment service user by the payment service provider and to be provided by the payment service user to identify unambiguously another payment service user and/or the payment account of that other payment service user for a payment transaction. The unique identifier may be the individual number expressed by IBAN number;
- Website – Company’s website at the address: transfergo.com
The Company and the Customer agree that the Articles 4 (1), (2) and (3), Article 11 (1), (2) and (5), Article 29 (3), Articles 37, 39, 41, 44, 51 and 52 of Law of the Republic of Lithuania on Payments (Law No. XIII-1092) will not be applied to the Customer who is a legal person.
II. REGISTRATION AND ACCOUNT OPENING
III. SERVICES PROVIDED BY THE COMPANY
- Before the Customer is bound by these T&Cs or any offer, the Company provides the Customer on paper or on another durable medium with the information and conditions specified in these T&Cs. It means that the Customer can get acquainted with these T&Cs—which are available on the Company website in both English and Lithuanian—before being bound by them or any offer.
- After the Customer reads the current version of these T&Cs, the Customer will be asked to accept them by selecting the appropriate ‘check-box’. In case the Customer does not select the required “check-box” or miss this step, the Customer will not be able to successfully complete the registration process and – as a result – the Customer will not enter into contractual relationships with the Company and will not be able to use the services.
- The Customer must apply to open the account before it is opened, and provide all the documents and information requested by the Company to comply with Company’s internal procedures and statutory obligations.
- To identify the Customer, the Company will ask the Customer to provide personal information and/or documentation. This may include, but is not limited to, the Customer’s name, surname, personal identification number, personal identification document, registered name for a legal entity, business license or extract from the relevant authority and/or other supporting documents. This information shall be provided by the Customer before the conclusion of the agreement between the Company and the Customer.
- If a legal representative acts on the Customer’s behalf, the Company will ask them to submit a document confirming the powers granted to them (e.g., an agreement, power of attorney). The form and content of this document will conform to the requirements established for such documents by laws and other legal acts of the Republic of Lithuania.
- The Customer is responsible for providing accurate and truthful information during the account-opening process or any time thereafter.
- The Customer is liable for any losses that may occur due to submission of invalid data.
- Once the Customer has provided all the necessary information and the documents and been approved by the Company, the account will be opened. The Customer will then be entitled to start using the services.
- The Company has the right to refuse to register the Customer and open the account without indicating the reasons. However, such refusal will always be based on significant reasons, which the Company is not obliged to reveal, or does not have the right to reveal.
- The Customer is entitled to open one account, unless the Company explicitly approves the opening of additional accounts.
IV. TERMS OF ISSUANCE AND REDEMPTION OF ELECTRONIC MONEY
- Services provided by the Company are as follows:
- Execution of payment transactions, including transfers of funds on a payment account with the user’s payment service provider or with another payment service provider:
- execution of direct debits, including one-off direct debits
- execution of payment transactions through a payment card or a similar device
- execution of credit transfers, including standing orders
- Money remittance
- Payment initiation services
- Account information services
- The Company also provides the services of issuance of the electronic money as well as its redemption services.
V. STRONG CUSTOMER AUTHENTICATION
- Having received funds from the Customer, the Company issues electronic money in nominal monetary value.
- Having received the Customer’s request, the Company must redeem the Customer’s electronic money in nominal monetary value.
- The conditions for the redemption of electronic money, the period and all the related additional remuneration shall be discussed in a separate agreement concluded between the Customer and the Company, in case they are different from the clauses set forth in these T&Cs.
- For the redemption of electronic money, an additional remuneration may be charged only in the following cases:
- it is being asked to redeem electronic money before the expiry of the term of these T&Cs
- you terminate these T&Cs before their terms expire;
- the redemption of electronic money is requested more than 1 (one) year after the expiration of these T&Cs.
- The additional remuneration charged for the redemption of electronic money will correspond to the actual costs incurred by us.
- No specific conditions for the redemption of electronic money that would differ from the standard conditions for the payment transactions performed on the account shall be applied.
- The amount of redeemed or transferred electronic money is chosen by the Customer.
- When electronic money is requested to be redeemed before the expiry of these T&Cs, the Customer may ask to redeem part or all of the monetary value of the electronic money.
- The Customer submits a request for redemption of electronic money by generating a payment order to transfer it from the account to any other account specified by the Customer, or to withdraw it from the account by other methods supported by the Company.
- The Company has the right to apply limitations for redemption of electronic money in case the transfer is not possible to be made due to the specific reasons, e.g. the Company does not perform transfers to the countries and accounts of the entities who are subject to sanctions published by the European Union, the Office of Foreign Assets Control (OFAC) of the USA and other relevant organizations, legal regulations of the recipient's country or technical obstacles. The list of indicated specific reasons is not finite.
- If the Company fails to repay the money to the Customer due to reasons beyond our control, the Customer shall be notified immediately and the Customer shall immediately indicate another account or provide additional information necessary to repay the money (execute a payment).
- When the Customer applies to redeem electronic money at the expiration of the term of these T&Cs or no more than 1 (one) year after the expiration of these T&Cs, all monetary value of the electronic money held by the Customer is redeemed.
- Electronic money held on the Account is not a deposit and the Company does not, in any circumstances, pay any interest for electronic money held on the account and does not provide any other benefits associated with the time period the electronic money is stored.
VI. INFORMATION TO BE INDICATED IN THE PAYMENT ORDER
- Strong customer authentication is applied by the Company where the Customer as the payer:
- accesses the Customer’s Account online or by using another remote channel;
- initiates an electronic payment operation;
- carries out any action through a remote channel which may imply a risk of payment fraud or other abuses.
- Where the Company does not require strong customer authentication, the Customer – as the payer – shall not bear any financial losses unless the Customer has acted fraudulently.
- Strong customer authentication data means:
- login name – the Customer’s email address set on the application form;
- special code that the Customer will receive to the mobile phone before signing into the Customer’s Account and after initiating a payment order. The payment transaction shall not be executed without entering the special code.
- The maximum time without the Customer’s activity after being authenticated for accessing the Customer’s Account shall not exceed 5 minutes. After 5 minutes, the session is over and the Customer will be asked to login again.
- If the authentication data is incorrectly entered 3 (three) times, the Company is entitled to block the Customer’s authentication data.
- The Customer shall be alerted before the block is made permanent.
- If the Customer’s account is blocked as a result of incorrectly entered authentication data, the Customer shall apply to the Company and make the verification again.
- Only after successful verification and on the Customer’s request is the Customer entitled to receive new authentication data.
VII. THE FORM OF AND PROCEDURE FOR GIVING CONSENT TO INITIATE A PAYMENT ORDER OR EXECUTE A TRANSACTION AND WITHDRAWAL OF SUCH CONSENT
- For a payment order to be properly initiated or executed, the Customer must provide the unique identifier.
- A payment order is executed properly when it is executed according to the specified unique identifier.
- The Company has the right to verify the coherence of the unique identifier and, where the unique identifier is found to be incoherent, to refuse the payment order and inform the Customer—as the payer—thereof.
- The Company has the right to request additional and / or other mandatory information (e.g. amount and currency, Payee’s name, surname / name of the legal entity) which must be provided in order to properly initiate or execute the payment order. The list of required additional information is not finite.
- Under these T&Cs, the Company generally processes payment transactions for the Customer in non-cash form and exclusively in electronic form.
VIII. MOMENT OF RECEIPT OF THE PAYMENT ORDER, REQUIREMENTS APPLIED TO THE PAYMENT ORDER AND REFUSAL TO EXECUTE THE PAYMENT ORDER
- The payment transaction is considered authorised only once the Customer—as the payer—has given consent to execute the payment transaction.
- The payment transaction shall be authorised by the Customer—as the payer—prior to the execution of the payment transaction.
- The Customer may give the consent to execute by using the authentication means provided by the Company (e.g. passwords, special codes or other personalised security credentials).
- If consent is given in written form, it will be signed properly by both parties.
- The consent may be expressed in another form and manner needed for the specific services and / or indicated in the additional agreements between the parties.
- When the Company provides payment initiation and/or account information services, the consent is given by entering the personalized security credentials—used by the Customer for secure customer authentication when accessing their online payment account opened with another service provider—into the relevant fields, provided by the Company, and confirming it via the pop-up message on the device screen.
- The Customer may withdraw consent to execute a payment transaction at any time, but no later than at the moment of irrevocability as described below.
- Consent to execute a series of payment transactions may be also withdrawn, in which case any future Payment transaction shall be considered unauthorised.
- The Customer shall not revoke a Payment order once it has been received by the Company, except for the cases provided in these T&Cs
- Where the Payment transaction is initiated by or through the Payee, the Payer shall not revoke the Payment order after giving consent to execute the Payment transaction to the Payee;
- In the case provided for in Section VIII, Clause 6 of these T&Cs, the Customer may revoke the Payment order at the latest by the end of the Business day preceding the agreed day.
- Upon expiry of the time limits laid down in clauses 9-11 of this Section VII, the Payment order may be revoked only if agreed between the Customer and the Company, and in the cases provided for in Clause 10 of this Section VII, the consent of the Payee is required.
- The Customer acknowledges that the Company might not be able to cancel an already executed Payment transaction.
- Clauses 7-12 of this Section VII are applicable only in case the Customer is a Consumer.
- In case the Company exclusively provides payment initiation and/or account information payment services, the Payer will not be able to cancel its consent after such consent has been given to the Company.
IX. THE TERMS OF THE EXECUTION OF SERVICES
- The Customer shall ensure that the account contains the necessary funds for the execution of the Customer’s instructions. If the Customer does not have sufficient funds at the moment when the Customer's instruction is presented, the Company has the right to refuse to execute the Customer's instructions, unless otherwise agreed by the parties.
- The Company shall process Payment orders given by the Customer without undue delay, provided that at the moment of maturity there are enough funds in the Account from which payment is to be debited. If there are insufficient funds, the Company shall not execute the Payment order.
- If the Customer is the Payer, the Payment order is considered received by the Company on the day of its reception or, if the moment of Payment order receipt is not a Company Business day, the Payment order is considered received on the Company’s next Business day.
- Funds from the Payer's account shall not be debited before the Payment order is received by the Company.
- A Payment order received by the Company on the Company’s Business day, but not during business hours, is considered as received on the next Business day of the Company.
- If the Payer or the Payee initiating a Payment order and the Payment service provider agree that execution of the Payment order shall start on a specific day, at the end of a certain period or on the day on which the Payer has put funds at the Payment service provider’s disposal, the time of receipt is deemed to be the agreed day. If the agreed day is not a Business day for the Payment service provider, the Payment order received shall be deemed to have been received on the next Business day.
- Payment orders inside the system of the Company are executed immediately (up to a few minutes, unless the Payment operation is suspended due to cases set forth by legal acts and these T&Cs), regardless of business hours of the Company.
- The Company has the right to record and store any Payment orders submitted by any of the means agreed on with the Company, and to record and store information about all Payment operations performed by the Customer or according to the Customer’s Payment orders. Such records may be submitted by the Company to the Customer and/or third persons, who have the right to receive such data under the basis set forth in the legislation, as evidence confirming the submission of Payment orders and/or executed Payment operations.
- The Company has the right to refuse to execute a Payment order in case of a reasonable doubt that the Payment order has been submitted by the Customer or an authorized representative of the Customer, or that the Payment order or the submitted documents are legitimate. In such cases, the Company has the right to ask the Customer to reconfirm the submitted Payment order and/ or submit documents confirming the rights of persons to manage the funds held on the account or other documents indicated by the Company in a way acceptable to the Company at the expense of the Customer. The Company is not liable for the losses which may arise from the refusal to execute the submitted Payment order due to the refusal to provide additional information or documents by the Customer.
- The Company has the right to involve third parties to partially or fully execute the Customer’s Payment order if the Customer's interests and/or the essence of the Payment order requires it. In the event that the essence of the Customer’s Payment order requires sending and executing the Payment operation further by another financial institution, but this institution suspends the Payment order, the Company is not liable for such actions of that financial institution but makes attempts to find out the reasons for the suspension of the Payment order.
- The Company has the right to suspend and/or terminate the execution of the Payment order of the Customer, if required by law or if it is necessary for other reasons beyond the control of the Company.
- If Company refuses to execute the Payment order submitted by the Customer, the Company shall specify the reasons for the refusal and how the errors that led to the refusal to execute the Payment order shall be corrected, except when such notification is technically impossible or forbidden by legal acts.
- The Company shall not accept and execute the Customer’s Payment orders to perform operations on the Account of the Customer if funds on the Account are arrested, if the right of the Customer to manage the funds is otherwise legally limited, or if case operations are suspended by applicable legal acts.
- If money transferred by the Payment order is returned due to reasons beyond the control of the Company (inaccurate data of the Payment order, the account of the Recipient is closed, etc.), the returned amount is credited to the Customer’s Account. Commission fees paid by the Payer for the Payment order execution are not returned, and other fees related to the returning of money and applied to the Company can be deducted from the Customer’s Account.
- Payment orders initiated by the Customer may be standard and urgent. The manner of the Payment order is selected by the Customer. If the Customer does not select the Payment order manner, it is considered that the Customer has initiated a standard Payment order.
X. SPENDING LIMITS FOR PAYMENT TRANSACTIONS
- The terms of the execution of Payment operations and the duration of execution of other services are set forth in these T&Cs, fees list and other additional agreements between the Parties.
- When the Payment operation is executed in euro in the Republic of Lithuania or other Member States and the Customer is the Payer, the Company ensures that the amount of the Payment operation is credited to the account of the payment service provider of the recipient until the end of the nearest Business day, except the exceptions foreseen in Clause 3 of this Section IX.
- Where a transfer of funds in the Republic of Lithuania is made in euro, the Payer's payment service provider shall ensure that after the Payment order is received, the amount of the Payment transaction is credited to the Payee's payment service provider's account on the same Business day if the Payment order is received on that Business day by 12 noon. If the Payment order is received after 12 noon, the Payer's payment service provider shall ensure that the amount of the Payment transaction is credited to the Payee's payment service provider account no later than the following Business day. Parties can agree that the Payment order shall be executed on a specific day, or at the end of a certain period, or on the day when the Payer provides its payment service provider with the amount. In such case the payment service provider of the Payer shall ensure that the amount of the Payment transaction is credited to the Payee's payment service provider's account on the day of the execution of the Payment order, and on the next Business day when the Payment order is not executed by the payment service provider.
- When the Payment operation is executed in the currencies of non-euro area Member States in the Republic of Lithuania and to other Member States and the Customer is the Payer, the Company ensures that the amount of the Payment operation is credited to the account of the payment service provider of the recipient until the end of the nearest Business day, but not later than within 4 (four) Business days of the receipt of the Payment order by the Company.
XI. ADDITIONAL USE OF IDENTITY VERIFICATION MEASURES
- The maximum spending limits for the Payment transactions may be set in the additional agreements signed between the Company and the Customer.
XII. BLOCKING THE ACCOUNT OF, AND/OR SUSPENSION OF SERVICES TO, THE CUSTOMER
- The Customer identity verification measures provided by the Company may be used to confirm the Customer’s identity by providing such information to the company's identity verification service provider in all manners specified by the Company.
XIII. INFORMATION PROVIDED TO THE CUSTOMER ABOUT PAYMENTS OPERATIONS
- The Customer shall cooperate with the Company to investigate any suspected illegal, fraudulent or improper activity.
- The Company is entitled to block the funds collected on the Customer’s Account in any of the following instances:
- the Company suspects that the funds collected on the Customer’s Account are intended for the commitment of a crime, resulted from the crime or participation therein;
- an unauthorized payment transaction is suspected to have been carried out through the Account;
- the Customer delays in discharging its obligations under these T&Cs
- bankruptcy is declared with respect to the Customer's assets, restructuring is initiated, the bankruptcy petition is cancelled owing to the lack of funds for the remuneration of the trustee in bankruptcy, the Customer enters into liquidation, or the risk of insolvency on the Customer's side increases excessively within a short period;
- for the purposes of corrective accounting and settlement;
- the Customer is using the Company Services and fraudulent acts have been proved on the Customer's side, or criminal proceedings are initiated against the Customer or its employees in the matter of fraudulent acts; or if actions of the Customer fail to comply with the rules of the Company banking partners and such conduct may cause the Company damage.
- The Company reserves the right to suspend, at any time and at its sole discretion, the Customer’s Account (or certain functionalities thereof such as uploading, receiving, sending and/or withdrawing funds), among other things, for audit:
- where the Company believes it is necessary or desirable to protect the security of the Customer account; or
- if any transactions are made which the Company in its sole discretion deems to be:
- made in breach of these T&Cs or in breach of the security requirements of the Customer Account; or
- suspicious, unauthorized or fraudulent, including without limitation in relation to money laundering, terrorism financing, fraud or other illegal activities; or
- upon the insolvency, liquidation, winding up, bankruptcy, administration, receivership or dissolution of the Customer, or where the Company reasonably considers that there is a threat of the same in relation to the Customer; or
- where anything occurs which in the opinion of the Company suggests that the Customer will be unable to provide the Customer’s products/services and/or otherwise fulfil the contract that it has with its Customers; or
- if the transactions are for the sale of goods and/or services which fall outside of the agreed business activities of the Customer, or where the Customer presents a transaction and fails to deliver the relevant goods and/or services.
- The Company will make reasonable efforts to inform the Customer of any such suspension in advance, or if this is not practicable, immediately afterwards, and give its reasons for such suspension—unless informing the Customer would compromise security measures or is otherwise prohibited by law or regulatory requirements.
- In addition, the Company reserves the right (at its sole discretion) to suspend the Customer’s Account (or certain functionalities thereof such as uploading, receiving, sending and/or withdrawing funds) at any time where it is required to do so under relevant and applicable laws and regulations. The Company will make reasonable efforts to inform the Customer of any such suspension unless the Company is prohibited from doing so by law or under an order from a competent court or authority.
XIV. PAYMENT INITIATION SERVICE: INFORMATION GIVEN TO THE PAYER AND THE PAYEE AFTER THE PAYMENT ORDER IS INITIATED
- The Company is obligated to provide the information to the Customer (before the execution of a Payment order) about the possible maximum terms of the execution of that Payment order, the payable Commission fees, and how those Commission fees are divided. This information is available in the Customer’s Account.
- The Company shall provide the Customer with details of the provided Payment operations, showing:
- information enabling the Payer to identify each Payment transaction and information relating to the Payee;
- the amount of the Payment operation in the currency indicated in the Payment Order;
- the Commission fees payable for the Payment operations and how the Commission fees are divided;
- the applicable currency exchange rate and the amount of the Payment operation after the currency exchange rate has been applied, where relevant
- the date funds are expected to arrive
- the date funds are received
- other information which shall be provided to the Customer in accordance with the applicable legal acts of the Republic of Lithuania.
- These details are provided personally to the Customer through the Customer’s account.
- The Company is obligated to inform the Customer about the suspected or executed fraud by other persons or the threats for the security of Services by sending a message within the Customer’s Account and by electronic messages (e-mail or SMS sent to the Customer, whichever is safe and most suitable to that specific situation).
XV. PAYMENT INITIATION SERVICE: HOW IT WORKS
- Where a Payment order is initiated through the Company, which acts as a Payment initiation service provider, it shall, immediately after initiation, provide or make available all of the following data to the Payer and, where applicable, the Payee:
- confirmation of the successful initiation of the Payment order with the Payer’s account servicing payment service provider;
- a reference enabling the Payer and Payee to identify the Payment transaction and, where appropriate, the Payee to identify the Payer, and any information transferred with the Payment transaction;
- the amount of the Payment transaction;
- where applicable, the amount of any charges payable to the Company for the transaction;
- where applicable, a breakdown of the amounts of such charges.
- After a successfully initiated payment order, the Company submits confirmation to the Payer about the proper initiation and completion of the Payment order by displaying such information on the device screen, as well as by sending it by email to the Payer. However, if there are doubts about the veracity of the Payment transactions indicated in the account statement, the Payer needs to contact the account servicing payment service provider.
- If the Payment order is not successfully initiated, the Company shall also inform the Payer about it in the same manner as described in Clause 2 above.
XVI. PAYMENT INITIATION SERVICES: RULES ON ACCESSING THE PAYMENT ACCOUNT
- The Payer has the right to make use of the Company to obtain payment only where the payment account is accessible online.
- In order to use the Payment initiation service, the Payer shall provide the Company with the personalized security credentials used by the Payer for secure customer authentication when accessing the online payment account opened with another service provider.
- Personalized security credentials provided to the Company by the Payer are those issued to the Payer by the account servicing payment service provider.
- The Payer enters their personalized security credentials into the relevant fields provided by the Company.
- After the Payer enters their personalized security credentials, the Company automatically logs into the internet banking account of the Payer, forms a payment order on behalf of the Payer and, upon confirmation of successfully executed order, logs out.
- If the Payer has several payment accounts in a particular institution of the payment service provider, the Payer shall select the payment account from which the payment shall be executed.
- The Company logs into the internet banking account of the payer using program code, so that the Bank of Lithuania is able to check whether the Company performs unnecessary actions or collects excess personal data.
- The Payer shall give explicit consent for the Company to initiate a Payment order on behalf of the Payer before the Payment order is initiated, in a manner indicated in Section VII, Clause 6 of these T&Cs.
XVII. ACCOUNT INFORMATION SERVICES: RULES ON ACCESS TO AND USE OF PAYMENT ACCOUNT INFORMATION
- The Company shall:
- not hold at any time the Payer’s funds in connection with the provision of the Payment initiation service;
- ensure that the personalized security credentials of the payment service user are not, with the exception of the user and the issuer of the personalized security credentials, accessible to other parties and that they are transmitted by the Company through safe and efficient channels;
- ensure that any other information about the payment service user, obtained when providing payment initiation services, is only provided to the Payee and only with the payment service user’s explicit consent;
- every time a payment is initiated, identify itself towards the account servicing payment service provider of the Payer and communicate with the account servicing payment service provider, the Payer and the Payee in a secure way, in accordance with Section I, Clause 5 of these T&Cs
- not store sensitive payment data of the payment service user;
- not request from the payment service user any data other than those necessary to provide the Payment initiation service;
- not use, access or store any data for purposes other than for the provision of the Payment initiation service as explicitly requested by the Payer;
- not modify the amount, the Payee or any other feature of the transaction.
- If the account servicing payment service provider refuses the Company access to a payment account for objectively justified and duly evidenced reasons relating to unauthorized or fraudulent access to the payment account by the Company, including the unauthorized or fraudulent initiation of a payment transaction, the Company is obligated to immediately inform the Bank of Lithuania about such a refusal.
XVIII. PRICES PAYABLE FOR THE SERVICES PROVIDED BY THE COMPANY, COMMISION FEES, INTEREST AND CURRENCY EXCHANGE
- The Payment service user has the right to make use of services enabling access to account information as referred to in Section I, Clause 2 of these T&Cs only where the payment account is accessible online.
- In order to obtain an account information service, the Payer shall provide the Company with the personalized security credentials used by the Payer for secure customer authentication when accessing an online payment account opened with another service provider.
- Personalized security credentials provided to the Company by the Payer are those issued to the Payer by the account servicing payment service provider.
- The Payer enters personalized security credentials into the relevant fields provided by the Company.
- If the Payer has several payment accounts in a particular institution of the payment service provider, the Payer may select the payment account from which the information regarding the account balance will be provided to the Customer.
- After receiving the consent from the Customer as indicated in Section VII Clause 6 of these T&Cs, the Company will show the Customer’s account balance (opened with the account servicing payment service provider) directly in the Customer’s Account. In case the Account information service cannot be realized successfully, the Company is obligated to inform the Customer about it in the same manner as described in Section XIV Clause 2 of these T&Cs.
- When exclusively providing payment account information services, the Company does not at any stage hold the payment service user’s funds.
- The account information service provider shall:
- provide services only where based on the payment service user’s explicit consent;
- ensure that the personalized security credentials of the payment service user are not, with the exception of the user and the issuer of the personalized security credentials, accessible to other parties and that when they are transmitted by the account information service provider, this is done through safe and efficient channels;
- for each communication session, identify itself towards the account servicing payment service provider(s) of the payment service user and securely communicate with the account servicing payment service provider(s) and the payment service user, in accordance with clause 5 of the Section I Clause 5 of these T&Cs
- access only the information from designated payment accounts and associated Payment transactions;
- not request sensitive payment data linked to the payment accounts;
- not use, access or store any data for purposes other than for performing the account information service explicitly requested by the payment service user, in accordance with data protection laws.
- If the account servicing payment service provider refuses the Company access to a payment account for objectively justified and duly evidenced reasons relating to unauthorized or fraudulent access to the payment account by the Company, the Company is obligated to immediately inform the Bank of Lithuania about such refusal.
XIX. COMMUNICATION BETWEEN THE PARTIES
- The Company shall charge Prices related to its standard Services in accordance with these T&Cs and the price list attached to these T&Cs. The Company shall charge individual Prices to the Customer for non-standard Services not defined herein and/or in the price list, and the Customer shall be informed thereof before using such services.
- Unless otherwise indicated, Prices are quoted in Euro.
- Prices are quoted exclusive of value added tax. If Value Added Tax or any other sales tax is or becomes chargeable, the Company will add such tax to the amount payable but will, where required, provide information on the net amount, the amount of tax and the tax rate applied.
- For Payment services and / or related services performed by the Company, the Customer shall pay a Commission fee to the Company. The Commission fee is indicated in the Price list and / or in the additional agreement concluded with the Customer. If the Customer fails to fulfill their obligation to pay a Commission fee to the Company, the Customer shall pay to the Company penalties (the fines or default interest) set forth in the Pricing list, in the additional agreement and/or in legal acts of the Republic of Lithuania.
- Any Prices and Commission fee payable by the Customer shall be deducted from the Customer account balance. If the Customer account balance is insufficient, or the Customer account balance becomes negative, the Company reserves the right to invoice the Customer for any shortfall.
- Where the Company has no option to deduct any Prices and / or Commission fee payable by the Customer for the provided Services from the balance of the Customer account, the Company shall issue a separate invoice for the amount owed. Invoices are payable within 10 (ten) days of the date of the invoice. In case of overdue payments, the Company reserves the right to charge default interest in the amount of
- 02 % and/or terminate these T&Cs with immediate effect by giving written notice to the Customer.
- If, during the performance of the Payment operation, there are not enough funds to execute the Payment operation and payment of Commission fee in the Customer’s Account, the Company shall have the right to refuse to execute the Payment operation.
- The currency exchange rates are provided to the Customer before the Payment order.
- Currency exchange is based on the exchange rate of the Company, which is valid at the moment of conversion and is constantly updated and published on the Company Website.
- The Company applies the changed basic exchange rate of currency immediately without a separate notice. The Company informs the Customer about such changes in a manner described in these T&Cs.
- If the currency in which the order to execute the Payment operation is different than the currency in which the Account is debited, the conversion of such currencies shall be performed in accordance with the procedure established by the Company, which shall be published on the Company Website.
- At the beginning of each calendar year the Company will provide the Consumer with a Statement of Commission fees related to the Account, free of charge. In case of termination of these T&Cs, Statement of Commission fees shall be provided for a period from the beginning of the calendar year until the day of termination of these T&Cs.
XX. CHANGE OF FEES, TERMS OF THESE T&Cs, TERMS OF SERVICE
- The person who becomes the Customer of the Company confirms that the Customer accepts that all communication, including the personal communication between the Company and the Customer, shall be executed in Lithuanian or other language as agreed by both parties. All communication, information about any changes to the Services and the Prices, and other important information shall be provided in Lithuanian or other language as agreed by both parties.
- Communication between the Company and the Customer is possible in the following forms:
- through the Customer’s Account;
- publicly posted on the website of the Company.
- Any communication between the Company and the Customer shall take place primarily through the Account and via e-mail. Disclosure of any information by the Company through the Account and via e-mail means that the relevant information has been duly delivered to the Customer and is effective.
- The Customer acknowledges that communication through the Customer’s Account may be done only if the Customer enters into their personal Account by using its login credentials or other requested personalized security credentials provided by the Company to the Customer for the purpose of the Customer’s authentication.
- E-mail communication is possible to addresses given on the Website and/or the e-mail addresses registered in the Company’s system.
- In case of communication by telephone, the Customer shall be verified on the basis of the Customer's data. Phone communication between the Company and the Customer is possible at times published on the Website.
- The Customer agrees that the Company may record, with prior notice to the Customer, any ongoing communication between the Company and the Customer using any available technical means, and will archive all the records, as well as the copies of any information and documents that the Company will receive from the Customer and third parties. The Customer agrees that the Company may at any time use this information for the purposes stated in these T&Cs or for ensuring compliance with these T&Cs.
- The Customer is entitled to get the information about these T&Cs, as well as these T&Cs themselves, on paper or any other durable medium in which the Company is able to provide such information.
- If the Customer would like to contact the Company about a concern relating to these T&Cs, the Customer may call +370 5 2140 450 (note: telephone network charges will apply), or contact the Company via in-app support, or email the Company at [email protected] The Company will try to resolve any issues the Customers may have about their account or the service the Company provides within 15 (fifteen) Business days of receiving the Customer’s concern, unless the concern is of a ‘simple”’ nature and can be resolved within 1 (one) Business day from the receipt day. The Company shall inform the Customer if exceptional circumstances arise, in which case it may take up to 35 (thirty-five) Business days to address the Customer’s concern.
XXI. SECURITY AND CORRECTIVE MEASURES
- These T&Cs are subject to change from time to time.
- The Company has the right to change these T&Cs, applicable prices and Commission fees and / or the Terms of Service by offering the changed T&Cs to the Customer personally in durable medium (through the Customer’s Account and additionally informing the Customer by electronic messages (e-mail, SMS etc.) sent to the Customer) at least 60 (sixty) calendar days before such changes will come into force. The Customer has the right to accept the proposed changes or reject them. If the Customer disagrees with the proposed changes, the Customer shall inform the Company about it in writing, or by sending an e-mail to the address [[email protected]].
- If no objection notice is received by the Company within the time frame stipulated in clause 2 of this Section XX, the Customer is deemed to have accepted the changes and such changes come into force on the specified date. If the Customer agrees with the changes to these T&Cs, applicable Prices and Commission fees and / or the Terms of Service, then the Customer is not entitled subsequently to submit to an objection and / or claims regarding the content of such changes.
- The Customer has the right to immediately terminate T&Cs without incurring charges, at any time after being informed of the changes and before those stipulated changes come into effect. If the Customer does not use his right to terminate these T&Cs before the day on which such changes come into force, the Customer will be deemed as having accepted the changes to the T&Cs.
- The termination of these T&Cs in accordance with Clause 5 of this Section XX does not release the Customer from their obligations to the Company that arose prior to the date of termination of these T&Cs.
XXII. BLOCKING THE ACCOUNT AND PAYMENT INSTRUMENTS GIVEN TO THE CUSTOMER
- The Customer is responsible for the safety of devices used to log in to the Account, and shall not leave them unattended in public places or otherwise make them easily accessible to third persons.
- We recommend downloading software, applications, anti-virus programs, browsers and other programs regularly.
- We recommend protecting devices with passwords, PIN codes or other safety instruments.
- We recommend treating incoming emails with caution, even if the Company is indicated as the sender. Attachments to fraud e-mails may contain viruses which can harm devices or pose a risk to the safety of the Customer’s Account.
- We recommend not clicking on unknown links, opening unknown documents, installing software or applications from unknown, unreliable sources or visiting unsafe websites.
- As soon as the Customer is aware of the loss, theft, misappropriation or fraudulent use of a payment instrument, the Customer must immediately notify the Company or any other entity designated by it. The notification shall be submitted to the Company through the Customer’s Account and, at the same time, by sending an e-mail to the Company from the Customer’s e-mail address registered with the Company’s system, or by a phonecall to the Company. If required, additional verification steps may be taken by the Company.
- If the Customer notices any suspicious activity on his account and thinks that third persons may have logged in to the system to use the Services, the Customer shall:
- immediately inform the Company thereof at any time, in the manner indicated in Section XIX of these T&Cs, and request to block the Customer’s Account;
- in order to continue to use the account, the Customer shall change the password, use other additional account confirmation instruments or use safer instruments and delete unsafe additional login confirmation instruments.
XXIII NOTICES PROVIDED BY THE CUSTOMER REGARDING UNAUTHORIZED OR IMPROPERLY EXECUTED PAYMENT OPERATIONS
- As well as the provisions indicated in Section XII of these T&Cs, the Company has the right to block the account (to stop the execution of some or all payment transactions) and / or the payment instrument, if it has been given to the Customer, in the following cases:
- when objectively justified reasons exist regarding either the security of funds and/or the payment instrument in the account, or the alleged unauthorized or fraudulent use of funds and/or the payment instrument in the account;
- if the Customer does not follow the terms of the current T&Cs
- if the Company reasonably suspects that funds in the Account may be used by other persons for unlawful actions, including but not limited to the commission of criminal activities;
- on any other basis set forth by the legal acts of the Republic of Lithuania and / or by the cases indicated in additional agreements signed between the Parties.
- The Company shall inform the Customer that the Payment instrument has been blocked and the reasons why, before the Payment instrument is blocked (where possible) and at the latest immediately thereafter, unless providing such information would compromise objectively justified security reasons or is prohibited by other relevant laws.
XXIV. THE LIABILITY OF THE CUSTOMER AND THE COMPANY FOR UNAUTHORIZED PAYMENTS OPERATIONS
- The Customer should check the information about executed Payment operations at least 1 (one) time per month, so that the Customer may notice unauthorized or improperly executed Payment transactions and notify the Company in a timely manner.
- The Customer is obligated to inform the Company in writing about unauthorized or improperly executed Payment operations, including mistakes they have noticed or inaccuracies in the extract, immediately after noticing such errors and no later than 13 (thirteen) months from the debit date.
- If the Customer does not notify the Company about the circumstances described in Clause 2 of this Section XXIII within the terms indicated in these T&Cs and the additional agreements between the Parties, then the Customer shall be deemed to have unconditionally confirmed the Payment operations executed in the Customer’s Account.
XXV. LIABILITY OF THE COMPANY FOR PROPER EXECUTION OF PAYMENT OPERATIONS
- Where a Customer who is a Consumer denies having authorised an executed Payment transaction or claims that the Payment transaction was not correctly executed, it is for the Company to prove that the Payment transaction was authenticated, accurately recorded, entered in the accounts and not affected by a technical breakdown or some other deficiency of the Services provided by the Company.
- If the Customer is a legal person, the use of identity verification measures and Account login data may be used to prove that the Customer authorized the Payment transaction, or was acting fraudulently, dishonestly and, intentionally or due to gross negligence, did not fulfill the obligations set forth in Section XXI of these T&Cs.
- In accordance with the terms indicated in Clause 2 of Section XXIII of these T&Cs, or having determined that the Payment operation was not authorized by the Customer, the Company shall without undue delay, but no later than by the end of the next Business day, return the amount of the unauthorized payment transaction to the Customer and, where applicable, restore the balance of the account from which this amount was written down and which would have existed if the unauthorized payment transaction had not been executed, unless the Company has reasonable suspicion of fraud and informs the Bank of Lithuania of such suspicions in accordance with the relevant regulations prepared by the Bank of Lithuania.
- The Customer, acting as a Consumer, shall bear the losses up to the amount of 50 (fifty) Euros that have arisen due to unauthorized payment transactions if these losses have been incurred due to:
- usage of a lost or stolen payment instrument;
- misappropriation of a payment instrument.
- Clause 4 of this Section XXIV shall not be applied if:
- the loss, theft or misappropriation of a Payment instrument was not detectable to the Payer prior to a payment, except where the Payer has acted fraudulently; or
- the loss was caused by acts or lack of action of an employee, agent or branch of the Company or of an entity to which its activities were outsourced.
- The Payer shall not bear any financial consequences resulting from the use of a lost, stolen or misappropriated Payment instrument after notification in accordance with Section XXI Clause 6 of these T&Cs, except where the Payer has acted fraudulently.
- The Payer (as Consumer) shall bear all losses relating to any unauthorised payment transactions incurred by the Payer, intentionally or with gross negligence, acting fraudulently or failing to fulfil one or more of the obligations set out in Section XXI of these T&Cs and in additional agreements signed between the Parties. In such cases, the maximum amount referred to in Clause 4 of this Section XXIV shall not apply. In case of suspected fraud by the Customer, the Company shall inform the Bank of Lithuania of such suspicions in accordance with the relevant regulations prepared by the Bank of Lithuania.
- If the Customer is not a Consumer, the Customer shall bear all losses for the reasons specified in Clause 4 of this Section XXIV of these T&Cs, except as otherwise provided in these T&Cs and/or additional agreements signed between the Parties.
- Where the Payment transaction is initiated through the Company acting as a Payment initiation service provider, the account servicing payment service provider shall refund immediately, and in any event no later than by the end of the following Business day, the amount of the unauthorised Payment transaction and, where applicable, restore the debited payment account to the state in which it would have been had the unauthorised Payment transaction not taken place.
- If the Company acting as a payment initiation service provider is liable for the unauthorised Payment transaction, it shall immediately compensate the account servicing payment service provider at its request for the losses incurred or sums paid as a result of the refund to the Payer, including the amount of the unauthorised Payment transaction.
- If the Company is acting as a Payment initiation service provider and if the Customer notices any unauthorized or incorrect Payment transactions on the Account, the Customer shall contact its account servicing payment service provider directly. Any request for a refund as indicated in Clause 8 of this Section XXIV and Clause 5 of Section XXV of these T&Cs will be subject to the terms and conditions of the account servicing payment service provider.
- The Account may be blocked on the Customer’s initiative, and/or the Account (including the payment instrument, if it is given to the Customer) may be blocked if the Customer requests this of the Company. The Company has the right to demand that the Customer's oral request to block the Account (including the payment instrument, if it is given to the Customer) be subsequently approved in writing or in another manner acceptable to the Company.
- If the Company has reasonable doubts that the request indicated in Clause 12 of this Section XXIV has not been submitted by the Customer, the Company has the right to refuse to block the Account (including the payment instrument, if it is given to the Customer). In such cases, the Company shall not be liable for any losses that may result from the failure to comply with the said request.
- Other terms of the liability of the Parties for the unauthorized Payment operations may be indicated in the additional agreements between the Parties.
XXVI. CONDITIONS OF REFUNDING THE PAYER THE AMOUNTS IN PAYMENT TRANSACTIONS INITIATED BY OR THROUGH THE PAYEE
- In case of improper execution of Payment transactions and where the Customer is a legal entity, the Company is liable only due to the fault of the Company. The Company is not liable for mistakes made by third parties.
- If a Payment order is executed in accordance with the Unique identifier, the Payment order shall be deemed to have been executed correctly with regard to the Payee specified by the Unique identifier. The Company has the right, but is not obliged, to check whether the Unique identifier presented in the Payment order received by the Company corresponds to the account holder's name and surname (name).
- If the Unique identifier is presented to the Company with the account to be credited or debited from the Account, the Payment order is deemed to be properly executed if it was executed according to the specified Unique identifier. If the Company carries out the said inspection (for example, to prevent the risk of money laundering) and finds a clear mismatch between the Unique identifier submitted to the Company and the account holder's name, the Company shall have the right not to execute such a Payment order.
- If the Customer (Payer) initiates the Payment order properly and the Payment operation is not executed or executed improperly, the Company, at the request of the Customer, shall immediately and without charge take measures to trace the Payment operation and to report on the results of the Customer’s search. If the Payer indicates incorrect Payee data and the Payment order is executed according to the data provided by the Payer (e.g. the Payer indicates a wrong Unique identifier or IBAN number), the Company shall not be liable for non-execution or defective execution of the payment transaction. The Company shall make reasonable efforts to recover the funds involved in the Payment transaction as described in this clause. The Company will give its best efforts to cooperate with the Payee’s payment service provider to collect all the relevant information pertaining to such Payment transactions. If the funds can not be collected, the Company shall provide the Payer, on being requested to do so on paper or on any other durable medium, all information available to the Company and relevant to the Payer in order for the Payer to file a legal claim to recover the funds.
- Where a Payment order is initiated by the Customer (Payer) through the Company acting as a Payment initiation service provider, the account servicing payment service provider will refund the Payer the amount of the non-executed or defective Payment transaction and, where applicable, will restore the debited payment account to the state in which it would have been had the defective Payment transaction not taken place.
- If the Company acting as the payment initiation service provider is liable for the non-execution, defective or late execution of the Payment transaction, it shall immediately compensate the account servicing payment service provider at its request for the losses incurred or sums paid as a result of the refund to the Payer.
- The Parties agree that the Company’s liability for non-execution or defective execution of the Payment transaction as indicated in Clauses 4-6 of this Section XXV above will be applied only where the Customer is a Consumer.
- The Company is liable for properly executed Payment transactions with the terms set forth by these T&Cs and/or additional agreements signed between the Parties.
- Where the Company is liable under Clause 7 of this Section XXV, it shall, without undue delay, refund the Payer the amount of the non-executed or defective Payment transaction, and, where applicable, restore the debited payment account to the state in which it would have been had the defective Payment transaction not taken place.
- The Company is liable for not applying Commission fees or returning already paid Commission fees if the Payment order was not executed or executed improperly due to the fault of the Company.
- The Company is not liable for indirect losses incurred by the Customer and related to unexecuted or improperly executed Payment orders. The Company is liable only for direct losses of the Customer.
- The Company is not liable for claims raised between the Payee and Payer and such claims are not reviewed by the Company. The Customer may only submit claims to the Company regarding the non-performance or improper performance of the obligations of the Company.
- If the Customer chooses to pay third parties for goods and services using the Company’s services, the Customer acknowledges that the Customer uses the Company’s services at its own risk and the Company has no control over the quality, safety, legality or delivery of goods and services.
- Limitations of liability of the Company shall not apply, if such limitations are prohibited by the applicable law.
- The Customer (Payer) shall have the right to recover from the Company the full amount of the authorized and already executed Payment transaction initiated by or through the Payee, and the Payer shall not incur losses because of interest payable to or receivable from the Company, provided that both of the following conditions are met:
- when authorizing the Payment transaction, its precise amount is not specified;
- the Payment transaction amount exceeds the amount which could have been reasonably expected by the Customer (Payer) considering his previous expenditure, clauses of these T&Cs and other circumstances, except for the circumstances relating to the exchange of currency, when upon executing the Payment transaction the currency exchange agreed between the Customer (Payer) and the Company was applied. If, upon giving his consent to execute the Payment transaction, the Customer (Payer) indicates the maximum permissible amount of such Payment transaction amount (over one or several Payment transactions), it shall be considered that this particular maximum amount could have been reasonably expected by the Customer (Payer).
- At the request of the Company, the Customer (Payer) must immediately provide information about the existence of the conditions specified in items a. and b. above.
- The Customer (Payer) shall not be entitled to the refund of Payment transaction amounts initiated by or through the Payee under Clause 1 of this Section XXVI, if the Customer (Payer) has given consent directly to the Company and the Company or the Payee has, in the agreed manner, given the Customer (Payer) information about the impending Payment transaction or created conditions to become familiarized with it at least 4 (four) weeks before the planned execution of the Payment transaction.
- The Customer (Payer) shall have the right to ask the Company to refund the amount of the Payment transaction initiated by or through the Payee within 8 (eight) weeks of the day on which the funds were debited from the account.
- Upon receipt of the request of the Customer (Payer) to refund the Payment transaction amount, the Company shall refund the full amount within 10 (ten) Business days of the Company, or state the reasons for its refusal to refund this amount and the process of appealing against the refusal. The Company has the right to refund the amount of the Payment transaction to the Payer without investigating the conditions provided for in Clause 1 a and b of this Section XXVI and existing circumstances and to consider the request of the Payer alone. If the Payment transaction amount is refunded to the Payer, the Commissions paid to the Company related to the execution of this Payment transaction shall not be refunded.
- Conditions of refunding the Payer the Payment transaction amounts initiated by or through the Payee as stated in the Clauses 1-5 of this Section XXVI of these T&Cs above will be applied only where the Customer is a Consumer.
XXVIII. FORBIDDEN ACTIVITIES
- Customers who notice that funds that do not belong to them have been transferred to their Account must immediately notify the Company to that effect. In such cases the Customer, as unauthorised beneficiary of transferred Payment transaction funds, shall be deprived of the right to dispose of the transferred funds and must remit such funds forthwith to the Account designated by the Company.
- The Company shall have the right to debit the amounts incorrectly credited to the Account through its own fault without the separate consent of the Customer, as unauthorised beneficiary of the transferred funds, and remit these funds to their due beneficiary.
- If the funds available in the Account are already insufficient to return the incorrectly credited funds, the Customer must repay the full amount to the account designated by the Company within 3 (three) Business days of the Company‘s request.
- Any Customer using Company Services is prohibited from (including but not limited to) the following:
- not complying with the provisions of these T&Cs and any amendments thereof, legislation and other legal acts, including but not limited to anti-money laundering and counter-terrorist financing acts;
- refusing to provide information or undertake other actions that are reasonably requested by the Company;
- executing or receiving transfers of illegally acquired funds, if the Customer is aware of or should be aware of it;
- using the Company Services in a way which causes losses, responsibility or other negative legal consequences or damage to the business reputation of the Company or third persons;
- spreading computer viruses and undertaking other actions that could cause the Company system malfunctions, information damage or destruction and other damage to the Company system, equipment or information of the Company;
- organizing illegal gambling, illegal trading of stocks, indices, raw materials, currency (e.g. Forex), options, exchange-traded funds (ETF); providing trade, investment or other services on currency exchanges, Forex markets and other electronic currency trading systems; engaging in illegal trades of tobacco products, alcohol, prescription drugs, steroids, weapons, narcotic substances and its attributes, pornographic production, unlicensed lottery, illegal software and other articles or products prohibited by law;
- accepting payments in unregulated and/or unsupervised virtual currency, and/or buying, converting or managing it in any other way;
- providing services that are prohibited by the law or contradict public order and moral principles;
- disclosing passwords and other personalized safety features of the Customer’s account to third persons and allowing other persons to use services under the name of the Customer.
- The Customer shall reimburse all direct damages, fines and other monetary sanctions applied to the Company due to non-observance or violation of the terms, including but not limited to those indicated in Clause 1 of this Section XXVIII due to the fault of the Customer.
XXX. PERSONAL DATA PROTECTION
- During the term of these T&Cs and thereafter, each Party shall use and reproduce the other Party’s Confidential Information only for the purposes of these T&Cs and only to the extent necessary for such purpose, restricting disclosure of the other party’s Confidential Information to its employees, consultants, advisors or independent contractors with a need to know, and not disclosing the other Party’s Confidential Information to any third party without the prior written approval of the other Party.
- Notwithstanding the above, it will not be a breach of these T&Cs for either Party to disclose Confidential Information of the other Party if required to do so by law or in a judicial or governmental investigation or proceeding.
- The confidentiality obligations shall not apply to information that:
- is or becomes public knowledge through no action or fault of the other party;
- is known to either Party without restriction prior to receipt from the other Party under these T&Cs, from its own independent sources as evidenced by such Party’s written records, and which was not acquired, directly or indirectly, from the other Party;
- either Party receives from any third Party reasonably known by the receiving Party to have a legal right to transmit such information, and not under any obligation to keep such information confidential; or
- information independently developed by either Party’s employees or agents provided that either Party can show that those same employees or agents had no access to the Confidential Information received hereunder.
XXXI. INTELLECTUAL PROPERTY
- When acting as data processor, each party shall process personal data in accordance with General Data Protection Regulation (GDPR) as well as in accordance with other applicable personal data protection laws.
- Where one party acts as the data processor of personal data processed by the other party as data controller, the data processor shall at all times follow the data controller’s reasonable instructions with regards to the personal data processed.
XXXII. TERM AND TERMINATION
- The Company Website, the services, the content, and all intellectual property therein (including but not limited to authors, patents, database rights, trademarks and service marks) are owned by the Company or third parties, and all rights, titles and interest therein and thereto shall remain the property of the Company and/or such third parties.
- The Website and services may only be used for the purposes permitted by these T&Cs.
- The Customer may not duplicate, publish, modify, create derivative works from, perform reverse engineering, or in any way distribute or exploit the Website, Services or any portion thereof for any public or commercial use without the express written consent of the Company.
- The Customer shall not:
- use any robot, spider, scraper or other automated devices to access the Website or Services; or
- remove or alter any author, trademark or other proprietary notice or legend displayed on the Website (or printed pages thereof).
- Except where expressly stated, nothing in these T&Cs shall grant or be deemed to grant to any party any right, title or interest in any logos, trademarks, trade names or other intellectual property licensed to that party by the other party.
- Each party shall indemnify and hold harmless the other party and its employees and directors for and against any and all claims, losses, liabilities, costs, expenses or damages (including reasonable legal fees) incurred by reason of any claim, demand, lawsuit or action by a third party (other than an employee or director of the indemnified party) resulting from an actual or alleged infringement of any third party intellectual property rights in connection with material provided by the indemnifying party.
XXXIII. GOVERNING LAW AND DISPUTE RESOLUTION
- The Customer may terminate these T&Cs at any time by notifying the Company at least 30 (thirty) days prior to the date of termination. The Customer shall notify the Company about the termination of these T&Cs on paper or on another durable medium.
- Termination of these T&Cs shall be free of charge for the Customer, except where these T&Cs have been in force for less than 6 months. Charges, if any, for termination of these T&Cs shall be appropriate and in line with costs.
- The Customer has the right to terminate these T&Cs immediately, at any time and without charges after being informed of any changes and before such changes become effective.
- The Company may terminate these T&Cs by notifying the Customer 60 (sixty) days prior to the date of termination. The Company shall notify the Customer about the termination of these T&Cs on paper or on another durable medium.
- The Company may also terminate these T&Cs by notifying the Customer 60 (sixty) days prior to the date of termination, if the Customer has not made any Payment transactions for more than 12 (twelve) consecutive months. Before terminating on such a legal basis, the Company will contact the Customer to clear the Account for the Customer. If the Customer has not made any Payment transactions for more than 12 (twelve) months, the Company will follow the Decision of the Director of Supervisory Department of the Bank of Lithuania, dated 18 of December 2017 No. 241-22
- These T&Cs may be terminated by mutual agreement between the Parties.
- The Company may terminate these T&Cs immediately if the Company reasonably suspects or determines that the Customer:
- is in violation of applicable laws or regulations, including those connected with anti-money laundering or counter-terrorist financing;
- has provided false or misleading information or documentation to the Company, failed to provide the documents and information connected with its Account and use of Services, or failed to keep such documents and information up-to-date;
- is using the Services to make or receive payments for activities related to the forbidden activities provided for in Section XXIII above, or;
- is otherwise using the Services for malicious, illegal or immoral purposes.
- If it is allowed to do so under the applicable laws and regulations, the Company will notify the Customer about the underlying reasons for terminating these T&Cs as early as possible.
- Upon terminating these T&Cs , the Customer will receive on durable medium the breakdown of all Payment transactions completed throughout the entire term of these T&Cs, up to 36 (thirty-six) months before the date of termination.
- The termination of these T&Cs shall not release the Parties from fulfilling their obligations to each other arising prior to the date of termination of these T&Cs.
XXXIV. FINAL PROVISIONS
- These T&Cs are drawn up in accordance with the law of the Republic of Lithuania. Relationships not covered by these T&Cs are governed by the applicable legal regulations.
- Disputes between the Company and Customer shall be solved through negotiations.
- If the dispute cannot be solved through negotiations, the Customer can submit a claim to the Company by post or e-mail, specifying the Customer’s name, contact details and relevant information, indicating why the Customer reasonably believes that the Company violated the legal rights and interests of the Customer while providing its Services. The Customer can add other available evidence that justifies the need for such a claim. If the Customer would like to submit a formal claim, the Customer shall send the email to [email protected]
- Upon receipt of a claim from the Customer, the Company confirms receipt of the claim and indicates the time limit within which the reply will be submitted. In each case, the deadline for submitting a reply may vary as it directly depends on the extent and complexity of the claim filed, but the Company will make the maximum effort to provide the response to the Customer within the shortest possible time, but not later than 15 (fifteen) Business days. If the Company is unable to provide the final answer within 15 (fifteen) Business days, the Company shall inform the Customer about and indicate when the answer will be provided, which shall be within 35 (thirty-five) Business days. The Customer’s dispute will be resolved free of charge.
- Dispute resolution. The Consumer has the right to apply to the Bank of Lithuania for the settlement of a dispute with the Company, which is an alternative dispute resolution between financial service providers and a consumer institution in accordance with the following terms and procedures:
- before applying to the Bank of Lithuania for dispute settlement, the Consumer must apply to the Company, specifying the circumstances of the dispute and the Consumer’s claim. The Consumer shall apply to the Company no later than within 3 months from the day when the Consumer became aware of a possible violation of the Consumer’s rights;
- in the event where the Company’s reply does not satisfy the Consumer or the Consumer has not received the Company’s reply within the terms specified in Clause 4 of this Section XVIII, the Consumer shall have the right to apply to the Bank of Lithuania for the dispute settlement within 1 year of contacting the Company. When this term expires, the Consumer loses the right to apply to the Bank of Lithuania for the same dispute;
- The Consumer may apply to the Bank of Lithuania for a dispute with the Company:
- via the electronic dispute settlement tool "E-Government Gateway";
- by filling in the Consumer Application Form available on the website of the Bank of Lithuania and sending it to the Bank of Lithuania Supervision Service at Žalgirio g. 90, LT-09303, Vilnius, Lithuania, or by e-mail [email protected];
- by filling in the free form application and sending it to the Bank of Lithuania Supervision Service at Žalgirio g. 90, LT-09303, Vilnius, Republic of Lithuania, or by e-mail [email protected]
- More information on dispute settlement procedures is available on the Bank of Lithuania website: https://www.lb.lt/en/dbc-settle-a-dispute-with-a-financial-service-provider
- Dealing with complaints. When the Customer considers that the Company has violated legislation regulating the financial market, the Customer has the right to file a complaint with the Bank of Lithuania regarding possible violations of financial market legislation.
- The Customer’s complaint to the Bank of Lithuania may be submitted in writing or electronically:
- at the address: Totorių g. 4, LT-01121, Vilnius, Republic of Lithuania or Žalgirio g. 90, LT-09303, Vilnius, Republic of Lithuania;
- sending a complaint by e-mail: [email protected] or [email protected];
- sending by fax (8 5) 268 0038;
- filling in an electronic link in the designated Section of the Bank of Lithuania website;
- by other means specified by the Bank of Lithuania.
- These T&Cs shall enter into force and become valid when the Customer has been approved by the Company. These T&Cs are valid for an unlimited period of time, unless otherwise agreed by the Parties.
- The Consumer may renounce these T&Cs concluded via electronic channels without any charge up to 14 (fourteen) days after the day on which these T&Cs were concluded by giving the Company a written notice or through the Customer’s Account.
- The Company and the Customer are independent contractors under these T&Cs, and nothing herein will be construed to create a partnership, joint venture or agency relationship between them. Neither party has the authority to enter into agreements of any kind on behalf of the other.
- The Customer may not transfer or assign any rights or obligations he may have under these T&Cs without the Company’s prior written consent. The Company reserves the right to assign its rights and obligations arising out of these T&Cs to other legal entities established in the European Economic Area (EEA) and holding a licence that is equal to or greater than the existing licence, with prior notice given to the Customer, according to the rules and procedures set forth in these T&Cs, at least 60 (sixty) calendar days before such changes come into force. The Customer has the right to accept those changes or reject them. If the Customer does not agree to such changes, the Customer has the right, immediately and without commission fee, to terminate the T&Cs before the day the amendments begin to apply, expressing their disagreement with the changes. If the Customer does not use his right to terminate these T&Cs before the day such changes come into force, the Customer shall be deemed as having accepted the changes. The disagreement shall be provided via the Customer’s Account as well as by e-mail.
- If any part of these T&Cs is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of these T&Cs, which shall continue to be valid and enforceable to the fullest extent permitted by law.
- Neither party shall be liable for any economic loss, delay or failure in performance of any part of these T&Cs to the extent that such loss, delay or failure is caused by fire, flood, explosion, accident, war, strike, embargo, governmental requirement, civil and military authority, Act of God, civil unrest, unavailability of public internet, hacking or distributed DoS attacks, inability to secure materials or labor, termination of vital agreements by third parties, action of the other party or any other cause beyond such party’s reasonable control.
- In the event the force majeure circumstances last longer than three (3) months, either party is entitled to terminate these T&Cs with a written notice of immediate effect.
- These T&Cs, including all schedules and other documents referred to herein, represents the entire agreement of the parties in relation to its subject matter. Each party acknowledges that it has entered into these T&Cs in reliance only on the representations, warranties, promises and terms contained in these T&Cs and, save as expressly set out in these T&Cs, neither party shall have any liability in respect of any other representation, warranty or promise made prior to the date of these T&Cs unless it was made fraudulently.
- The Customer acknowledges that Lithuanian deposit guarantee scheme does not apply to the accounts opened within the Company. However, the Company ensures that Customers’ funds are kept in a segregated bank account opened for the benefit of Customers of the Company and it will not be used to keep funds of the Company or other parties which are not considered to be users of the services Company services.
||Date of entry into force
|Account management (costs per year)
|Other services included in account management (if any)
|To own account (online)
|To own account (in department)
|To another client’s account inside PSP (online)
|To another client’s account inside PSP (in department)
|To the account in another PSP (online)
|To the account in another PSP (in department)
|Fees for services (online)
|Fees for services (in department from the account)
|Settlement of payments received in euro
|Settlement of payments received in euro
|Settlement of received international payments
|Settlement of received international payments
|Debit card issuance
|Service (costs per year)
|Credit card issuance
|Service (costs per year)
|In PSP department
|By debit card at your PSP ATMs
|By debit card operating at other ATMs
in Lithuania or other EEA countrie
|Through the PSP network of intermediaries
|In PSP department
|Through the PSP network of intermediaries
|Automatic payment of an e-Account
|To another PSP
|Payment of e-Account by one-time transfer
|To another PSP
|Money remittance (except fees for services in cash)
|Cash (in department)
|Paying by payment card in foreign currency
|Cash transfer when the payer does not have an account
|Fees for services (in department in cash)
|To another person’s account in the same PSP
|Transfer to another PSP