General terms and conditions
“Account” means Account opened by us in your name.
“Account currency” means EURO.
“Card” means a Card issued under condition of Paragraph 26. Card transactions are chargeable to your Account.
“Cardholder” means a person, to whom a Card has been issued.
“Agreement” means agreement concluded between you and us and consisting of Pre-contractual information (in case of distance agreement), these General terms and conditions, Price list, Secure usage of the card and the APP and Data protection policy;
“APP” means a mobile application that is a software installed on a device supporting the installation of software and allowing you to access your Account and use our Services. Terms “using APP”, “in APP”, “via APP” shall be applicable to remote execution of our Services (operations) via the mobile application.
“Application for services” means your application for Services following the procedure set by us.
“ATM” means the automatic teller machine which accepts the Card.
“Authentication means” are any or all of the following (according to the context): user Password, user ID, authorization tools, authorization codes and other data used for your authentication under the Agreement.
“Available Funds” means at any given time any unspent funds loaded onto your Account which is available to pay for transactions and fees and charges payable under the Agreement;
“Business Day” means any day other than a Saturday, Sunday or national or public holiday in Malta during our normal working hours (from 9 am to 5.30 pm (CET)).
“Card” or “Gekkard” means a prepaid card of MasterCard brand, issued by us to you, which may be in the form of a Plastic card or Virtual card;
“Commencement Date” means the date when we have accepted your Application for services by setting up an Account for you and issuing Virtual GEKKARD.
“CVV” or the Card Verification Value code is a security feature of the card consisting of 3 digits and is located on the back of the card within the signature area.
“Internet Transaction” means the execution of card payments on the internet, including Virtual card payments.
“Intrabank payment” means payment between accounts established by us (in our financial institution).
“Expiry Date” means the last day of validity of the card (inclusive).
“Notice” means any information, data, documents, orders, applications, instructions, notices, complaints and requests arising out of the business relations between us and you. Notices in English languages only shall be legally valid.
“Password” means a code consisting of Arabic figures and/or letters of the Latin alphabet that you have applied for and that denotes you.
“Personal data” means any information about personal or factual circumstances of a specific or identifiable natural person, such as e.g. name and surname, date of birth, place of birth, identification document (including type of identification document, issue date, ID number, issuing authority), address, telephone number, mobile number, e-mail address, IP address, online identifier, location data, images and information on transactions and accounts.
“PIN” means your unique personal identification number issued by us to you together with the сard. The PIN-code is only known to you and considered equal to your signature for Transaction certification.
“Plastic card” or “Plastic GEKKARD” means a physical (plastic) card, which is a copy of Virtual GEKKARD;
“Politically exposed persons” means natural persons who are or have been entrusted with prominent public functions, other than middle ranking or more junior officials:
· Heads of State, Heads of Government, Ministers, Deputy or Assistant Ministers, and Parliamentary Secretaries;
- Members of Parliament or similar legislative bodies;
· Members of the governing bodies of political parties;
· Members of superior, supreme, and constitutional courts or of other high-level judicial bodies whose decisions are not subject to further appeal, except in exceptional circumstances;
· Members of courts of auditors or of the boards of central banks;
· Ambassadors, charges d’affaires and high-ranking officers in the armed forces;
· Members of the administrative, management or supervisory boards of State-owned enterprises;
· Anyone exercising a function equivalent to those set out in above-mentioned Paragraphs within an institution of the European Union or any other international body.
“Politically exposed person’s family member” means:
· spouse, or a person considered to be equivalent to a spouse;
· children and their spouses, or persons considered to be equivalent to a spouse;
“Person known to be close associates to Politically exposed person” mean:
· natural person known to have joint beneficial ownership of a body corporate or any other form of legal arrangement, or any other close business relations, with that Politically exposed person;
· natural person who has sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of that Politically exposed person.
“Services” means services provided by us to you, including, but not limited to, Account management, issuing of the Card, execution of payments (incl. payment transactions through a Card), cash withdrawals from the Account;
“Strong customer authentication” means an authentication based on the use of two or more elements categorized 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.
“Technical overdraft” means an overdraft issued by us to you for discharging your payment obligations to us arising out of the Account use by you, where no sufficient amount of funds is available in the Account at the moment when the payment is due.
“Top-up” means a quick payment that you made from a card whose authorized holder or user you are using the remote access tool. Transaction amount is available to your Card/ Account immediately after successful authorization of Top-up.
“Transaction” means all type of transaction linked to the Account or the Card.
“Virtual card” or “Virtual GEKKARD” means a non-physical card linked to the Account, the use of which is limited to online purchases.
“We” , “us” or “our” or “Papaya” means Papaya Ltd., registered with the Registrar of Companies in Malta, with registered office: 31 Sliema Road, Gzira GZR 1637, Malta, and registration number C 55146, VAT MT21426635; Papaya’s head office is located at 31 Sliema Road, Gzira GZR 1637; electronic mail address - firstname.lastname@example.org. Papaya Ltd is Electronic Money Institution (EMI) and Financial Institution, headquartered in Malta and regulated by the Malta Financial Services Authority (MFSA).
“Website” means Papaya’s website at www.papaya.eu.
“You” or “your” refers to individual or legal entity to whom we render Services, or who have applied to us for our Services.
2. General information on the agreement
- These General terms and conditions set out the general terms and conditions that apply to our Services.
- Together, these General terms and conditions,Pre-contractual information (in case of distance agreement), Price list, Secure usage of the card and the APP and Data protection policy form an Agreement between you and us governing the opening and management of the Account, the possession and use of the Card and other Services.
- The legal relations between us and you under the Card issuing, use, and maintenance or the Account use and maintenance that are not covered in Agreement shall be also regulated by the rules of international payment card organization MasterCard Worldwide.
- Copies of these General terms and conditions and other documents motioned in Paragraph 2.2 can be found in the APP, on the Website or issued on paper without charge upon request by contacting our Customer Services team in accordance with Paragraph 11.
- The Agreement will commence on the Commencement Date and will terminate in accordance with Paragraph 15.
- The Agreement is drawn up in the English language. Where any translation of the Agreement or parts thereof in another language are available, such translation is for informal purposes only and does not alter or take precedence over the provisions of the Agreement, and the provisions of the Agreement in the English language shall prevail.
- You represent that:
- you have full legal capacity and ability to act in order to execute Transactions;
- your Transactions do not cause infringements of the requirements of applicable legal acts;
- all information supplied by you to us is true and is not misleading. All documents supplied by you to us are true and valid. You have been informed of criminal responsibility for supplying us with false information;
- you have not offered, promised or given anything or preference to our employee, directly or indirectly, for the latter to act or abstain from any action in infringement of his duties;
- you are not engaged in money laundering or in terrorism financing, and your funds loaded into Account have not been obtained through unlawful means.
- We shall be entitled to verify your representation and other information supplied by you at any time.
4. Identity verification
- We are legally obligated to identify you and verify your identity in accordance with the requirements of applicable legal acts and our requirements. You shall supply us with requested data and information, as well as documents that certify authenticity of supplied information and data.
- You shall be entitled to remotely enter into Transactions or submit Notices by using the Authentication means issued by us following the procedure set by us.
- You recognize that any Transaction or Notice confirmed by using the Authentication means shall be true and binding upon you and us, as well as shall have equal legal force as a Transaction or Notice bearing manual signature.
- If the Authentication means issued to you become known to a third party, you shall be responsible for all consequences until the moment of notifying us of the same in accordance with the procedures set by us, unless otherwise specified in the Agreement.
We acknowledge that all information supplied by you to us and related to you, Transaction and our relations with third persons, is confidential and shall not be disclosed to third persons without your consent, except the information that:
- is publicly available;
- is required for financial institutions involved in execution of the Transaction applied for by you, at their request;
- is your information supplied to the beneficiary of the payment applied for by you, according to the requirements of the payment processing schemes;
- we are obliged to disclose or furnish to third parties in accordance with the requirements of applicable legal acts;
- is disclosed to third parties that supervise and audit our operations;
- is provided to our outsource service providers, personal data operators and attorneys;
- is provided to our cooperation partners that provide services to us or with whom we otherwise cooperate for the sake of execution of your Transactions, our transactions or functions, or for complying with the requirements set forth in the applicable legal acts.
- Confidential information is our secret and is not to be disclosed. Confidential information may only be disclosed in compliance with the requirements of applicable legal acts, these General terms and conditions and Data protection policy.
- You shall agree that we are entitled to record and keep all intercommunication without prior notification and to unilaterally choose technical means for recording the same. We shall record and keep all intercommunication in accordance with the requirements of applicable legal acts and Data protection policy. You shall agree that we are entitled to use intercommunication records as evidence for protecting our interests in settling disputes and in court. We shall not be obliged to store intercommunication records for the benefit of you.
6. Personal information
We collect, use and processing Personal information in accordance with Data protection policy.
- Your purchase of the APP presupposes a prior registration in the app store (third-party sales platforms) concerned. We have no influence on the collection, processing and use of personal data by the relevant app store operator. These are the only responsible authorities in this regard.
- We use reasonable measures to help keeping information secure, and to help preventing it from becoming disclosed to persons who are not described in Data protection policy.
- Providing your Personal information to us is optional. However, if you choose not to provide certain Personal information to us, we may not be able to deliver Services to you.
7. Exchange of information
Any Notices may be submitted in person, in electronic form or sent in writing through a postal operator (to our registered address stated in Paragraph 11. or to your residential address). Subject to prior consent Notices may be submitted also by fax or e-mail stated in Paragraph 11.
- We shall not be responsible for losses or expenses incurred by you or a third party in case you have not notified us of change of address for sending of Notices or has provided incorrect address.
- All Notices submitted to us shall be completed without corrections, deletions, erasures and shall be clearly legible and complying with the requirements set in Agreement.
- All Notices shall bear your own signature, be signed with a secure electronic signature or confirmed with the Authentication means ensured by us to you.
If a Notice is sent:
- by electronic means of communication or by fax, the same shall be considered received at the moment of being sent;
- through a postal operator, the same shall be considered received on the third Business day (working day) after service to the postal operator.
- Unless stated otherwise in these General terms and conditions, we shall process Notices on Business days during our working hours.
8. Obligation of cooperation and information provision
We are subject to laws and regulations regarding the prevention of money laundering and terrorism financing and will need to collect and record information related to you in order to meet our respective obligations under such laws and regulations.
- You undertake to provide us with any information or documents required by us, in order to enable us to meet our obligations under above mentioned laws and regulations. Furthermore, you undertake to notify us promptly when any information or documents you have provided change or need to be updated from time to time.
- To promote appropriate progress of Transactions you are obliged to immediately notify us of changes in your Personal information and registration data (including contact information), of important changes in your financial condition, and of the Transaction beneficiaries.
- We provide you with all information on the Transactions booked to the Account by providing you with access to an Account statement.
- You shall agree that an Account statement shall be deemed a primary evidence of the Transactions performed by you. You shall provide us all documentary evidence of, or/and information on, incompliance between the Transactions booked to the Account and those actually performed, or the Transactions not authorized by you.
- You shall be obliged to inform us in accordance with Paragraph 11 of any facts and events known to you that may lead to unfair gain for you and/or cause losses for us.
9. Short messaging
- We send the short messages (PUSH/ SMS) to the mobile phone number provided by you.
- By sending short messages we inform you about, including, but not limited to, the information for entering the APP, the information on Transactions on the Account (the funds crediting to or debiting from the Account, as well as authorizations of Transactions), the information on events on the account.
- You shall be obliged to read and review the short message sent by us immediately upon its receipt. If within 24 hours after you have received the short message, we do not receive a notice from you regarding any errors in the short message, the correctness and completeness of the received short message shall be deemed as approved by you.
10. Fees and charges
You shall pay commission for services rendered by us - fees and charges according to the procedures and to the amount stated in the Agreement and Price list.
- We shall be entitled to unilaterally amend the Price list in accordance with the procedure described in Paragraph 13.
- Currency exchange rates set by us shall not be included in Price list and shall be stated at the moment of rendering the Service. The currency exchange rates may be changed any time without prior notification, also during the Business day, considering currency exchange rate fluctuations in financial markets. Those amendments shall become effective upon publishing the changes in APP and on Website.
- Fees and charges must be paid before execution of the Service, unless we have stated different procedures in the Agreement and/or in Price list. Unless you have paid the fees and charges to us, we are entitled to cease rendering definite Service to you or refuse rendering the Service without any notice. If we terminate or refuse rendering the Service to you, we shall not be responsible for your losses or other additional expenses of you. If we continue rendering the service, we consequently acquiring the corresponding rights of claim towards you of the amount equal to unpaid fees and charges.
- Where the Services provided by us are suspended pending documentation or information required from you in relation to our obligations under Paragraph 8.1.1, the monthly fee will continue to be applied to you.
- We are entitled to debit your Account with amount of any claim due under the Transactions you applied for (including amounts of payments applied for by you, fees and charges, taxes, duties, etc.) that you have undertaken to perform and/or we are entitled to without acceptance by you.
- If taxes, duties or similar payments are levied on charges, we shall be entitled to withhold such payments from you, with the charge amount being increased accordingly.
- You should be aware that other taxes, duties or similar costs, that are related to our Services, may exist, but are not paid via us or imposed by us.
- Should you have any queries about the fees and charges, actual currency exchange rates or any other information, please contact us using the details in Paragraph 11.
11. Customer services
- You agree, that all communications between us and you shall be in the English language.
Our Customer Services team are normally available from 9 am to 5.30 pm (CET) Monday to Friday, excluding national and public holidays in Malta. During these hours we will endeavor to resolve all enquiries immediately. You can contact our Customer Services team by the following methods:
- writing to us via APP;
- calling by phone: +356 20 155 500
writing to email:
- to file a complaint: email@example.com
- regarding your PIN and Card (including Lost Cards): firstname.lastname@example.org
- for other matters and requests: email@example.com
- writing to us or visiting us - Papaya Ltd., 31 Sliema Road, Gzira GZR 1637, Malta.
If you are not satisfied with any element of the service you
receive, any complaints should also be made to our Customer Services
team using the contact details in Paragraphs 188.8.131.52 or 11.2.4.
- We shall make every possible effort to reply, on paper or on another durable medium (for example, in the APP), to your complaints. Such a reply shall address all points raised, within an adequate timeframe and at the latest within 15 Business days of receipt of the complaint.
- In exceptional situations, if the answer cannot be given within 15 Business days for reasons beyond the control of us, we shall send a holding reply, clearly indicating the reasons for a delay in answering to the complaint and specifying the deadline by which you will receive the final reply. In any event, the deadline for receiving the final reply shall not exceed 35 Business days.
- We do everything we can to make sure you receive the best possible service. However, if you are not happy with how your complaint has been managed by our customer care team and you wish to escalate your complaint, you should contact the Office of the Arbiter, which is competent to deal with disputes concerning the rights and obligations arising under financial services. You can access further information on the Office of the Arbiter and on the conditions for using such services on the website - https://financialarbiter.org.mt or visiting the Office of the Arbiter for Financial Services - 1st Floor, St Calcedonius Square, Floriana FRN 1530, Malta.
12. Limitation of liability
- Normally, we will be able to support transactions 24 hours per day, 365 days per year. However, we cannot guarantee this will be the case, and in certain circumstances – for example a serious technical problem – we may be unable to receive or complete transactions.
- Nothing in the Agreement shall exclude or limit any regulatory responsibilities we have which we are not permitted to exclude or limit.
No liability shall arise:
- in cases of abnormal and unforeseeable circumstances beyond the control of the party pleading for the application of those circumstances, the consequences of which would have been unavoidable despite all efforts to the contrary, or
- where we are bound by other legal obligations covered by European Union or national law.
- The Malta Depositor Compensation Scheme does not apply to your Account and GEKKARD. But as a responsible e-money issuer and payment provider we take the security of your money very seriously. We shall safeguard all funds received from you. Such funds held shall be deposited in a separate bank account in a credit institution domiciled in a reputable jurisdiction. So, in the unlikely event of any insolvency, funds that have reached your Account will be protected against claims by creditors.
13. Amendment of general terms and conditions
- The Agreement may be amended by us at any time for legal, regulatory, commercial or security reasons or to improve the Services, or for any other reason.
- If any amendments are made, they will be published in the APP and on the Website two (2) months before the amendments take effect (unless such amendments provide for a different term of entering into effect in accordance with legal enactments of the Republic of Malta). Amendments to the Agreement shall not apply to the Transactions that have been executed and completed before the date on which amendments to the Agreement enter into effect.
- Copies of the most up-to-date version of the General terms and conditions will be made available in the APP and on the Website at all times and will be available on request by contacting our Customer Services team in accordance with Paragraph 11.
- We shall not be responsible for your losses or other expenses, should you fail to familiarize yourself with amendments to the General terms and conditions.
- Should you fail to submit your objections to us before the day on which amendments to the Agreement become effective, you shall be deemed to agree to amend legal relations between you and us as stated in the amendments. Should you disagree to the amendments, you shall be entitled to terminate your business relations with us that are affected by the proposed amendments immediately, before the day on which amendments become effective, without penal sanctions applied.
14. Cooling off procedure
- If you use remote access tools for conclusion of the Agreement (distance Agreement), you are entitled to a 14-day “cooling off’ period from the Commencement Date during which you may cancel the Agreement without incurring any penalty and without having to give any reason.
- Should you wish to cancel the Agreement during the “cooling off” period, please send us written revocation (in free form) and return the Plastic GEKKARD to us (at Papaya’s head office: 31 Sliema Road, Gzira GZR 1637, Malta), unsigned and unused.
Note that you will not be entitled to a refund of any fees paid in
accordance with Price list, if you have used your Card during the
14-day “cooling off” period.
- Charges and fees for the Services levied on a regular basis shall be payable by you proportionally up to the cancelation of the Agreement. If such charges are paid in advance, they shall be reimbursed proportionally.
- Following the end of the “cooling off” period you may terminate the Agreement in accordance with Paragraph 15.
15. Termination of this agreement
- Subject to Paragraph 14, the Agreement runs indefinitely.
- Each Party shall be entitled to unilaterally, without explaining reasons, terminate the Agreement, servicing a Notice of termination to the other Party, unless stated otherwise in the normative acts applicable in the Republic of Malta.
Following your initiative, the Account shall be closed within 1 (one)
month of receipt of your written Notice in accordance with the procedure
set by us.
- We shall have no obligation to close the Account in case the same is required for execution of the Transactions concluded with you or the Technical overdraft is granted to you.
- We may terminate the Agreement by giving at least 2 months’ Notice to you.
On termination of the Agreement we shall provide to you free of
charge, on paper or on another durable medium (for example, make the
information available in the APP), with both of the following:
- the latest available yearly Account statement as governed by the framework contract; and
- an interim statement covering the period from the last date of the statement as referred to in Paragraph 15.5.1 until the date of the termination.
We shall be entitled to unilaterally refuse, or abstain from,
execution of a Transaction in full or in part, suspend or terminate any
Transaction, change the term of executing the Transaction, set restrictions
on any Transaction, freezing or attach the funds and assets, limiting the
availability of the Services to you, as well as restrict, suspend or
terminate any contractual relations with you without serving a Notice to
you and without reimbursing you for any losses or additional expenses in
the following cases:
- you have defaulted on the Agreement;
- a person who is not validly identified or authorized is suspected of acting on behalf of you;
- suspected involvement of you in money laundering, terrorism financing, or attempted money laundering or terrorism financing;
- fraud is suspected or you is suspected to allow a legally punishable, dishonest or unethical action, or if we have reason to consider that further cooperation with you is to the detriment of our honor, credit or reputation;
suspicion of the death of the client;
- In the event of the death of the client, the heirs shall be obliged to submit a document certifying their respective rights to us in order to dispose of the deceased client’s estate, as well as shall provide instructions on further disposal of such estate.
- you fail to supply us with the requested information and documents in the cases specified in Paragraph 8.1, or we suspect such supplied information or documents to be inconsistent with actual circumstances;
- it is conditioned by the necessity to meet the requirements of the financial institutions or organizations involved in execution of the Transaction applied for by you;
- the Transaction is suspected to result in direct or indirect violation of sanctions set by the Republic of Malta, the European Union, the United Nations Organization or other international organization whose member state is Malta, or a particular state;
- the Transaction contradicts our internal Client or Risk management policies;
- we consider some default on your obligations to have occurred or to possibly occur;
- the Technical overdraft mentioned in Paragraph 20 is generated during more than 60 days in a row.
- Charges and fees for the Services levied on a regular basis shall be payable by you proportionally up to the termination of the Agreement. If such charges are paid in advance, they shall be reimbursed proportionally.
- In case of closing the Account, the Account balance shall secure your liabilities against us, arising upon closing the Account.
- Termination of the Agreement shall not entail termination of your and our non-discharged obligations established before the Agreement termination. All non-discharged obligations under Agreement established before terminating the Agreement shall be discharged in accordance with the terms and conditions of the Agreement.
- Documents submitted by you for the sake of conclusion of an Agreement / performance of Transaction or other operations shall not be returned to you.
- Should the relations be terminated, you shall submit all required documents to us and take all required steps to discharge the obligations arising out of the legal relations between you and us.
If the Agreement terminates, we will close your Account and cancel
your Card. The day of closing the Account shall be the day of terminating
- You must inform us as soon as practicable what you want us to do with any unused available funds on your Account.
- We shall close the Account and transfer the balance according to the payment order submitted by you or shall pay the balance out in cash in the premises of our office, where you have submitted cash withdrawal order to us when applying for closure of the Account, unless stated otherwise in the applicable legal acts.
16. Applicable legal enactments and procedures of disputes resolution
- The laws of the Republic of Malta apply to the Agreement.
- Disputes between you and us may be resolved through mutual negotiations.
- Any your claim against us shall be resolved out-of-court as stated in Paragraph 11.3.
- Any dispute, discord or Claim ensuing from business relations of the Parties hereto, or the default, termination, lawfulness, validity or translation thereof shall be resolved at the discretion of the claimant at the courts of the Republic of Malta.
- If any term or provision in the Agreement shall be held to be illegal or unenforceable, in whole or in part, under any enactment or rule of law, such term or provision or part shall to that extent be deemed not to form part of the Agreement but the validity and enforceability of the remainder of the Agreement shall not be affected.
- We may assign the benefit and burden of the Agreement to another person or company at any time by giving you two (2) months’ notice of this. If we do this, your rights will not be affected.
II. Remote access tools
18. Terms of using the app or another remote access tool
- Using the APP or another remote access tool (further – the APP) you can apply electronically (remotely) for the opening of an Account. By submitting of Application for services (or by submitting of registration information) you provide us with the requested information, as well as you confirm the familiarization and agreement with the terms and conditions of the Agreement and submitting a binding offer for the conclusion of the Agreement.
- The App primarily serve to administer your Account, which, in particular, makes it possible to process transactions using the Card, as well as payment transactions.
- The App is protected by the intellectual property laws. No modification or reproduction of the APP, publishing, no transfer thereof to any third person or use of technologies used in the APP for making other software shall be allowed without our consent.
- You shall only be entitled to use the APP for the purpose of the Agreement and according to conditions stated by us. We grant you the limited, non-exclusive, non-transferable and sub-licensable right, restricted to the period of the Agreement. The right of use expires upon expiration of the Agreement.
- For using APP, you shall be authenticated by us according to the Authentication means.
- You shall study technical requirements of using the APP and the Authentication means, and also requirements to safe keeping and using of the Authentication means, as stated by us.
- When connecting to the APP, you shall use a safe workstation (mobile devices), including safe Internet connection and licensed software, as well as shall take all necessary preventive security measures (inter alia, install software updates, ensure control over workstation access rights, and install necessary antivirus software and firewall) to prevent possession of your information and Authentication means by third parties and their unauthorized use, or their use for fraudulent or other criminal purposes. You shall familiarize itself with other rules of safe keeping and using of the APP stated by us.
- You shall ensure that the Authentication means are kept safely and are not accessible to third parties. You shall bear full liability for all losses and risks of other additional expenses of you in case you Authentication means come to the disposal of a third party because of your failure to abide by the Agreement.
- In case the Authentication means are lost, stolen, reproduced or become otherwise accessible to a third party, or in case of unauthorized use of the Authentication means, you shall inform us without undue delay and as soon as you became aware of this calling or writing to our Customer Services team in accordance with Paragraph 11.
III. The account
19. Account opening and maintenance
You shall be entitled to open Account with us.
- We shall be entitled to reject opening the Account for you, based on confidential information available to us. This being the case, we shall not be obliged to explain reasons for rejection to you.
- By opening an Account, we create a Virtual card for you. Since your Account is opened you are entitled to submit Plastic card via App.
Prior to use the Account and the Card you must ensure that you have
sufficient Available Funds on your Account.
- You may check the balance and available Funds on your Account or view a statement of recent Transactions in the APP.
- Funds loaded onto your Account do not constitute a deposit. You will not earn interest on the balance of the Account.
We shall credit the Account with funds:
- paid in cash to us in the premises of our office, or
- credited to the Account by making a payment.
- Where you place cash on the Account, we shall ensure that the amount is made available and value dated immediately after receipt of the funds.
We shall ensure that the amount of the payment transaction is at your
disposal immediately after that amount is credited to our account where, on
our part, there is:
- no currency conversion; or
- a currency conversion between the euro and a Member State currency or between two Member State currencies.
- a sole payment service provider involving to payment Transaction.
- In case incoming payment currency differs from the Account currency, at the moment of crediting to the Account we shall convert such funds into Euro, applying our currency exchange rate effective as at the date of exchange.
We shall be entitled to debit the Account with amounts of
Transactions made by means of the Card and any charges thereon without
acceptance, after information on the Transaction is received.
- At the moment of executing the Transaction, we will block the Transaction amount and any charges thereon in the Account until information about the Transaction is received. If information about the Transaction is not received in due time, the blocking shall be cancelled, without cancelling the abovementioned rights of us.
The amount and currency of the Transaction made shall be made
known to us by the payment processing organization – MasterCard Worldwide.
- In case the currency of a Transaction corresponds to the Account currency, the Transaction amount shall be debited in such currency.
- In case the Transaction currency fails to correspond to the Account currency, the Transaction amount shall be debited in the Account currency, applying the currency exchange rate applied by MasterCard Worldwide and effective as at the moment of the Transaction processing, and mark-up 3%.
- You shall be entitled to make Transactions with the Card within the balance of funds in the Account. You shall immediately reimburse us for all expenses and losses that may be sustained by us through your failure to comply with this provision.
20. Technical overdraft on account
Under normal circumstances, if any payment is attempted that exceeds
the Available Funds on the Account the Payment will be declined. In certain
circumstances, a Payment may take your Account into a negative balance –
this will normally be where the beneficiary has failed to seek
authorization for the Payment. In these cases, providing that we are
satisfied that you have not deliberately used the Account in the manner
that would result in a negative Account balance, we shall grant the
Technical Overdraft on Account to you.
- The Technical Overdraft shall be granted by us in the form of non-revolving overdraft. We shall be entitled to grant on your Account the Technical Overdraft to the amount that is to be added to the balance of funds available in the Account in order to discharge your particular payment obligations.
- The Technical Overdraft shall be deemed received at the moment of discharging your payment obligations.
- The Technical Overdraft shall be repaid by you immediately on the day of origination of the same.
IV. The card
21. Terms of issue and use of the card
The Virtual GEKKARD will normally be ready for use immediately after
opening the Account.
- We shall issue the PIN-code to you via the APP.
You are entitled to order Plastic card according to the procedure
prescribed by us.
- You can get the Plastic card starting from the date indicated by us within 1 (one) month visiting our head office on Business days.
By your request we shall issue the Plastic Card to you sending by
post and/or through intermediary of third parties.
- We shall bear the risk of sending the Plastic Card to you. We shall bear no responsibility for any loss of profits, loss of business, or any indirect, consequential, special or punitive losses, or due to any other reasons beyond our control.
- When you receive your Plastic GEKKARD, it will be issued to you in an inactive state. You shall confirm the receipt of the Plastic card. You will need to activate the Plastic card via the APP prior to use.
- If you do not activate your Plastic Card, any Transactions that you attempt to carry out with it will be declined.
The Card is our property transferred to you for use. You shall only
be entitled to use the Card.
The Card may only be used by the person to whom the Card was
- In case the Card provides signature specimen, you shall be obliged to affix his signature to the Card in the place meant for the signature specimen at the moment of receiving the Card.
- The Card may only be used by the person to whom the Card was issued.
- The Card is linked to your Account and is intended for use as a means of payment.
- In order to prevent or cease unlawful operations with the Card, we shall be entitled to demand from you to return the Card and you shall be obliged to satisfy above mentioned request immediately.
- You shall not be allowed to damage the Card, to modify or reproduce the Card, or to allow such damage, modification or reproduction. In case the Card is damaged, you shall be entitled to apply to Bank for replacement of his Card.
The Card is intended for purchases from merchants, where you are
physically present or for purchases on the Internet.
- The Virtual GEKKARD is designed for online purchases only.
- The PIN-code is only known to you (as the cardholder) and considered equal to the cardholder’s signature for Transaction certification. In case of PIN-code use, strict observance of all instructions of the respective ATM or payment card terminal is required.
You shall recognize a Transaction with the Card as confirmed
(authorized) by you provided that:
- when making a Transaction, you have signed a document certifying the Transaction;
- the Transaction has been confirmed by entering the PIN-code in the ATM or card POS terminal;
- the Transaction has been confirmed by entering (providing) your name, surname, the Card number, validity period and CVV code.
- Normally, we will receive notification of your authorization by way of an electronic message in line with the rules and procedures of the payment scheme (Mastercard network). Once we have received notification of your authorization to proceed with the Transaction, the Transaction cannot be stopped or revoked. However, you may in certain circumstances be entitled to a refund in accordance with Paragraph 33.
In certain circumstances, we may refuse to complete a
Transaction that you have authorized. These circumstances include:
- if we have reasonable concerns about the security of your Card or we suspect your Card is being used in a fraudulent or unauthorized manner;
- if there are not sufficient Available Funds to cover the Transaction and all associated fees at the time that we receive notification of the Transaction;
- if there is an outstanding shortfall on the balance of your Card;
- if we have reasonable grounds to believe you are acting in breach of the Agreement;
- if there are errors, failures (mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing transactions; or
- if we are required to do so by law.
- Unless it would be unlawful for us to do so, where we refuse to complete a Transaction for you in accordance with Paragraph 21.11, we will notify you as soon as reasonably practicable, that it has been refused and the reasons why it has been refused, together where relevant, with the procedure for correcting any factual errors that led to the refusal.
- We may suspend your Card, in which case you will not be able to use it for any Transactions, if we have reasonable concerns about the security of your Card or we suspect your Card is being used in a fraudulent or unauthorized manner. We will notify you of any such suspension sending Notes (for example, by the APP) in advance, or immediately after if this is not possible, and of the reasons for the suspension unless to do so would compromise reasonable security measures or otherwise be unlawful. We will lift the suspension and, where appropriate, issue a new Card free of charge as soon as practicable once the reasons for the suspension cease to exist.
You shall agree that a Transaction confirmation given following the
procedures stipulated in Paragraph 21.9 shall constitute an irrevocable
confirmation (consent) by you with regard to the amount and other details
stated in the document, or an ATM’s or card POS terminal’s display.
- To perform authorization of a Transaction made using the Card on the Internet where the vendor ensures secure authentication (3-D secure), you shall make additional authorization by confirming such Transactions with one-time password derived from us.
- You are obliged to present your identity document at the request of the receiver of the Transaction amount or a person authorized by the latter.
For the security purposes, we shall set payment limits on
Transaction executed through the Card, including Internet Transactions
(setting the maximum amount of each particular payment or the total maximum
amount over a specific period). Standard limits are stated in the Price list. You shall be entitled to change or reject the payment
limits set by us.
- We provide you with options for further risk limitation within Internet Transactions limits. You shall be entitled to reduce the limit for Internet Transaction till zero, so we allow customers to disable the Internet payment functionality.
- If you do not disable the Internet payment functionality as mentioned in Paragraph 21.16.1, we consider that you confirm your willingness to make Internet Transactions using our Services.
We will not be liable for:
- your losses of you caused by damages or faults in the Card serving computer system, including your failure to use funds available in the Card account;
- refusal to accept the Card
- quality of goods and services purchased with the Card being used;
- errors or unlawful action of the receiver of the Transaction amount
- any loss of profits, loss of business, or any indirect, consequential, special or punitive losses; or
- any acts or omissions that are a consequence of our compliance with any national or European Union law.
- In any event our liability will be limited to the balance of the Account at the time that the event occurs.
In addition to the limitations set out in Paragraph 21.17, our
liability shall be limited as follows:
- where your GEKKARD is faulty due to our fault, our liability shall be limited to the replacement of the GEKKARD or repayment to you of the Available Funds on your Account; or
- where sums are incorrectly deducted from your Account due to our fault, our liability shall be limited to payment to you of an equivalent amount.
22. Keeping your card and its details safe
- We will assume that all Transactions entered into by you with your Card or Card details is made by you unless you notify us in accordance with Paragraph 23.1.
- You are responsible for keeping your Card and its details (Card number, validity or CVV code) safe. This means you must take all reasonable steps to avoid the loss, theft or misuse of the Card or details. Do not disclose the Card details to anyone except where necessary to complete a Transaction. You should be satisfied that the retailer or service provider is genuine and has taken adequate steps to safeguard your information before proceeding with the Transaction and supplying them with the Card or details.
- When making a Transaction with the Card, you shall be obliged to supervise actions with the Card, and shall be responsible in full for risks arising as a result of Card servicing if the Card comes into the possession of any third party. You shall familiarize itself with other rules of safe keeping and using of the Card and Card information stated by us - Secure usage of the card and the APP.
You must keep your PIN safe at all times. This includes:
- memorizing your PIN as soon as you receive it;
- never writing your PIN on your Card or on anything you usually keep with your Card;
- keeping your PIN secret at all times, including by not using your PIN if anyone else is watching; and
- not disclosing your PIN to any person (this includes printed messages, e-mails and online forms).
- Failure to comply with this may be treated as gross negligence and may affect your ability to claim any losses.
23. Lost, stolen or damaged of the card
If you lose your GEKKARD or it is stolen or damaged or you
suspect it has been reproduced or otherwise has come to the disposal of
a third person or PIN-code or other Authentication means has become
known or might have become known to a third person, or unauthorized use
of the Card has occurred, please notify us without undue delay and as
soon as you became aware of this:
- by using APP (is available at all times); or
- calling our Customer Services team in accordance with Paragraph 11 (available on Business days). You will be asked to provide your Card number and other information to verify that you are the authorized cardholder. Following satisfactory completion of the verification process, we will then immediately block any lost or stolen Card to prevent unauthorized use and cancel any damaged Card to prevent further use.
- You can use above mentioned means of communications to request unblocking of the Card pursuant to Paragraph 21.13.
- You shall be obliged to immediately supply us at our request with data on circumstances related to loss of Card, disclosure of PIN-code to a third person, or unauthorized use of the Card.
- After you have notified us of the loss, theft or risk of misuse, and providing that we are able to identify your Card and satisfy certain security checks, we may issue a replacement Card and/or PIN to you. The “cooling off” period described in Paragraph 14 does not apply to replacement Cards.
- On your request, we shall provide you with the means to prove (for 18 months after notification) that you made a notification as referred to in Paragraph 23.1.
- If we believe (and can provide supporting evidence) you have acted fraudulently, or if we believe (and can provide supporting evidence) you have intentionally or with gross negligence failed to keep your GEKKARD or its details safe at all times, we will hold you liable for all Transactions and any associated fees.
24. Purchases from retailers
- We are not responsible for the safety, legality, quality or any other aspect of the goods and services purchased with the GEKKARD.
- Where a retailer provides a refund for any reason (for example, if you return the goods as faulty) it can take several days for the notification of the refund and the money itself to reach us. As such, please allow 5-10 days from the date the refund was carried out for the refund to be applied to your Account.
25. Expiry of the card
- Validity of the Card is stated on the Plastic Card (information of validity of Virtual Card you can find in the APP). The Card is valid until the last day of its validity (inclusive). Upon expiry of validity of the Card, as well as in case the Card is blocked and a replacement Card is issued, the same shall not be used. You shall be obliged to destroy a Card with expired validity, e.g. by dividing the same in two parts.
Upon expiry of validity of the Card, we shall make a new Card for
- you have refused to receive such new Card at least one month before expiry of validity of the current Card or
- we have notified you of the rejection to issue a new Card.
- We shall debit your Account with the charge for the Card production without acceptance in accordance with Price list. A new Card shall be kept by us until being sent to you by post and/or through intermediary of third parties.
- The “cooling off” period described in Paragraph 14 will not apply to any replacement Card issued by us.
- You may request us to issue the Card to Cardholder in a form and according to the procedure prescribed by us.
- You authorize us to issue the Card and PINs to the Cardholder and you authorize each Cardholder to authorize transactions on your behalf.
- All Card transactions effected by the Cardholder will be charged to the Account.
Where you request us for the Card issuing to Cardholder, you thereby:
- represent that all information about the Cardholder provided by you is complete, accurate and true in all respects, and the Cardholder’s consent to providing such information to us for processing has been obtained. You commit to immediately inform us on all changes in the said information;
- commit to ensure that the Card will be used only by the Cardholder stated in the application for the Card issuing;
- undertake full liability for any fees, transactions, use or misuse of any Card requested by you;
- commit to communicate the Agreement to the Cardholders before he or she starts using the Card and ensure that the Cardholder complies with applicable provisions of the Agreement.
V. The payment transactions
27. Terms of payments
You shall only be entitled to make payments from the Account to:
- your e-wallet created by us;
- another client’s Account with us;
- account with another bank/ payment provider.
In order to make a payment, you shall submit payment order to us
in a form and according to the procedure prescribed by us, filling in
the same precisely and in full and stating all information requested.
- You shall state your name and number of Account (IBAN format), the payment amount and currency (EURO), the beneficiary’s name and account number, the payment purpose, and other details required in the payment order and necessary for performing the payment.
- Should you fail to provide all required details in a payment order or other information enabling check of the transaction compliance, we shall be entitled, at our own discretion, to postpone execution of such payment order until receipt of additional information and/or documents requested from you (but not longer than for the period stated in Paragraph 27.4) or deny execution of such payment order if the requested additional information and/or documents are not received.
You shall agree that a payment shall be deemed confirmed by you (you
have given consent to execute the payment transaction) where the payment
order is submitted via the APP and authorized by respective Authentication
- You shall agree that above mentioned payment confirmation shall constitute an irrevocable confirmation / consent by you with regard to the amount and other details stated in the payment order. We shall be entitled to request additional payment confirmation in accordance with the Paragraph 27.5.
A payment order shall be valid for submission to us during eight
calendar days from the date of signing the same (including the date of
signing). We shall be entitled to postpone or deny execution of a
payment order on the following instances:
- your Account balance is insufficient to execute the respective payment orders and/or cover the payment charges;
- details of the payment order should be amended in accordance with Paragraph 27.2;
- the additional confirmation of the payment is required in accordance with Paragraph 27.5.
- Where execution of the payment order submitted by you is postponed on reasonable grounds, such payment order shall be valid for execution during eight calendar days from the day of submitting the same to us.
To protect you property, we shall be entitled, without
obligation, to request additional payment confirmation (authorization)
to be provided by you, where under the payment processing by us there
arise suspicions of attempted fraud involving your funds, even though
attempted fraudulent transaction might be not detected after the check.
- We may postpone execution of such payment until you confirm the payment in accordance with our requirements and also may deny execution of the payment if no confirmation is received.
We shall be entitled to deny execution of a payment also on instances
where other provisions stipulated in Agreement are not complied with, or
where legal acts or other regulatory requirements applicable to us prohibit
execution of the payment.
- We shall be not liable for your losses or other additional expenses incurred by you in case of suspending the payment execution or the denial to execute the payment stipulated in Agreement.
- We shall bear no responsibility with regard to a non-executed or unduly executed payment order in case due execution of the same is hindered by legal enactments or other regulatory requirements applicable to us.
- We shall inform you of postponing the payment execution or the denial to execute the payment by the Notice (for example, in the APP) at the earliest opportunity, but not later than by the end of the following Business day, unless legal acts applicable to us prohibit provision of such information.
We shall be not liable for your losses or other additional expenses
that might be incurred due to not executing the payment order or undue
execution of it, where the beneficiary’s account number provided in your
payment order and stated in IBAN or other format, including invalid or
incorrect account number, fails to conform to other payment details stated,
and also where details provided in the your payment order are incorrect or
- However, we shall make reasonable efforts to recover the funds involved in the erroneous payment transaction. In the event that such recovery of funds is not possible, we shall provide to you, upon written request, all information available to us and relevant to you in order for you to file a legal claim to recover the funds.
28. Terms of payment processing and execution
The moment of receiving the payment order shall be that when we
receive a payment order complying with the form and procedures stipulated
by us, meeting our requirements and submitted in accordance with the
cut-off times stated in the Price list.
- Receipt of a payment order shall not guarantee its execution. A condition precedent for executing a payment order is compliance of the same with all requirements set forth herein and in other legal enactments that regulate payments.
Terms of executing payment orders submitted by you shall depend on
payment types stated in the Price list and cut-off times.
- You shall state the preferred payment type in payment order. If the Client has not stated the preferred payment type, such payment shall be executed as a standard payment.
- You can initiate a payment order which execution shall start on a specific day. The time of receipt of above-mentioned payment order is deemed to be the agreed day. If the agreed day is not a Business day, the payment order received shall be deemed to have been received on the following Business day.
29. Processing of payments made by you to other payment provider
- Your payments made to other payment provider shall be processed by us on the Business days, taking into account the cut-off time and payment value date stated in Price list.
- Under execution of a payment order, we execute the payment order without additional negotiation with you, by choosing the most appropriate execution route and settlement systems.
- If payment order submitted by you is received by us before the cut-off time set forth in Price list, we shall execute the payment with the value date stated in Price list. On the said value date, we shall pass the payment amount to the beneficiary or the beneficiary bank or the intermediary bank.
If payment order submitted by you is received by us after the cut-off
time set forth in Price list, we shall process the same on the next
- We shall be entitled, without obligation, to process your payment order on the same Business day, adding one more Business day to the payment value date.
- If value date stated in the Price list appears to be a holiday of the correspondent bank, intermediary bank, beneficiary bank, or settlement system via which the payment is to be executed, we may execute the your submitted payment order on the next working day of us, correspondent bank, intermediary bank, beneficiary bank, settlement system via which the payment is to be executed.
- If the correspondent bank, intermediary bank, beneficiary bank, or settlement system via which your payment to other bank is to be executed is located in a different time zone, we are unable to guarantee execution of the same in accordance with the provisions of Price list.
- In case of payments made by you to other payment provider, we are unable to guarantee passing the payment amount to the beneficiary payment provider and crediting of the same to the beneficiary’s account within the specified time if one or several intermediary banks/ payment providers are involved in the payment execution.
30. Processing of intrabank payments made by you
- Intrabank payments submitted by the Client shall be processed by us on Business days, taking into account the cut-off time and payment value date stated in the Price list. If payment order submitted by you is received after the cut-off time set forth in the Price list, we shall process the same on the next Business day.
31. Payments addressed to you
A payment from other payment provider addressed to you shall be
credited by us to the your Account on the Business days before the time
stated in the Price list following receipt of a notice from the
payment originator’s bank/ payment provider regarding the payment addressed
to you and provided we have all information necessary for the payment
execution in accordance with our requirements.
- We shall be entitled not to credit the payment from other payment provider addressed to you to your account until we receive a relevant confirmation pursuant to our requirements that the payment amount has been credited to our correspondent account. When crediting the payment from other payment provider addressed to you to your account, we shall determine the payment value date according to the value date stated in the payment order. Where the value date stated in the payment order precedes the date of the payment processing by us, we shall be entitled to set the Business day preceding the payment processing date as the value date. The payment amount shall be passed to you on the payment value date determined by us. We shall supply you with information on the value date of the payment credited to you in your Account statement.
- We shall credit a sum of Top-up to your Account immediately after successful authorization of Top-up.
- A payment addressed to you shall be deemed executed correctly provided that the same has been executed in accordance with your account number in IBAN format stated in the payment order. We shall be entitled, without obligation, to check whether account number stated in the payment order conforms to your name, and in case of the respective nonconformity – to deny execution of the payment or request details to be amended.
- In case your Account has been credited with funds through our error, we shall be entitled to debit the account with such funds without acceptance, notifying you accordingly in its Account statement / report.
- The funds credited to you can be debited by us from the Account without acceptance in case the correspondent bank involved in the payment execution as a beneficiary bank or intermediary bank defaults on its obligations to us, i.e., the payment amount addressed to you is not actually passed to us.
32. Correction, cancellation and refund of payments
We shall not revoke a payment order once it has been received by us,
unless otherwise specified in this Paragraph.
- In the case referred to in Paragraph 28.2 you may revoke a payment order at the latest by the end of the Business day preceding the agreed day.
You shall be entitled to apply to us for corrections in the payment
order submitted to us, submitting a respective application in the form and
according to the procedure required by us. Nevertheless, we shall not
guarantee correction of the payment order.
- We shall ensure correction of your payment order that has not been executed yet as requested by you.
- Where you apply for correcting an already executed payment order we shall, to the extent possible, contact the beneficiary’s or intermediary bank to request corrections in the executed payment order, as applied for by you.
You shall be entitled to apply to us for cancellation of a submitted
payment order, submitting a respective application in the form and
according to the procedure set by us to the same. Nevertheless, we shall
not guarantee cancellation of the payment order.
Where you apply for cancelling an already executed payment order:
- in case of a payment to other payment provider – we shall, to the extent possible, contact the beneficiary’s payment provider or intermediary bank to get back the funds transferred. We shall refund funds to your Account only upon we ascertain that the payment order has not been executed on any stage of the payment order execution and after we get the funds back from the beneficiary’s payment provider or intermediary bank;
- in case of an Intrabank payment – we shall, to the extent possible, try to contact the beneficiary client to obtain its consent to the payment refund. The payment shall be refunded to the remitting client only after the beneficiary client consents to the same.
- Where you apply for cancelling an already executed payment order:
33. Transaction disputes
- If you believe you did not authorize a particular Transaction or that a Transaction was incorrectly carried out, in order to obtain a refund you must contact our Customer Services team (section 11) without undue delay - as soon as you notice the problem, and in any case no later than 13 months after the amount of the Transaction has been deducted from the Card.
We shall be liable to you for correct execution of the payment
transaction, unless we can prove to you that beneficiary's payment
service provider received the amount of the payment transaction.
- Where we are liable under Paragraph 33.2 we shall, without undue delay, and in any event no later than by the end of the following Business day, refund to you the amount of the non-executed or defective payment transaction and any associated transaction fees and charges payable under the Agreement and, where applicable, restore the debited Account to the state in which it would have been had the defective payment transaction not taken place.
- We shall, regardless of liability under this Paragraph, on your request, make immediate efforts to trace the payment transaction and notify you of the outcome. This shall be free of charge for you.
- Depending on the circumstances, our Customer Services team may require you to complete a dispute declaration form.
- You may be obliged to bear the losses relating to any unauthorized payment transactions, up to a maximum of EUR 50, resulting from the use of a lost or stolen payment instrument or from the misappropriation of a payment instrument.
Paragraph 33.3 shall not apply if:
- the loss, theft or misappropriation of the Card was not detectable by you prior to a payment, except where the payer has acted fraudulently; or
- the loss was caused by acts or lack of action of our employee or agent or of an entity to which its activities were outsourced.
You will be liable for all losses incurred in respect of an
unauthorized transaction if:
- you have acted fraudulently; or
have intentionally or with gross negligence failed to:
- look after and use your Card in accordance with the Agreement; or
- notify us of the problem.
Except where you have acted fraudulently, you will not be liable for
any losses incurred in respect of an unauthorized transaction:
- which arise after your notification to us; or
- where we do not require Strong customer authentication; or
- If we do not provide appropriate means for the notification at all times of a lost, stolen or misappropriated Card.
- If our investigations show that any disputed transaction was authorized by you or you have acted fraudulently or with gross negligence, we may reverse any refund made and you will be liable for all losses we suffer in connection with the transaction, including, but not limited to, the cost of any investigation carried out by us in relation to the Transaction.
- In certain circumstances, a transaction will be initiated but not fully completed. Where this happens, this may result in the value of the transaction being deducted from the Card balance and therefore unavailable for use – we refer to this as a “hanging authorization” or “block”. In these cases, you will need to contact our Customer Service team in accordance with Paragraph 11 and present relevant evidence to show that the transaction has been cancelled or reversed.
VI. Cash operation
34. Performing of cash operations
You can make such cash operations:
- cash placement to the Account;
- cash withdrawals from the Account (in development)
- We shall execute cash operations according to your request in the premises of our office and in currency stated in Price list (Account currency). You shall pay to us the charge stated in Price list.
- Before performing the cash operations, we shall verify your identity on the basis of your identity document and in accordance with the procedures established by us.
- Observing the requirements of the applicable law, we are entitled to request, and you shall provide us, the documents confirming the cash operation, as well as information and explanations of the nature, grounds and purposes of the operation. We have the right to refuse the operation if it contains markers of a suspicious or unusual transaction.
- In accordance with applicable law we shall document the cash operations with cash operation order. The order with your signature and our seal and the signature of our employee is proof of the conclusion and execution of the cash operation.
- An application for cash withdrawal (the withdrawal order) can be submitted to us using remote access tool. If the amount of cash withdrawal exceeds the amount indicated in the Price list, you must submit to us the order in time specified in the price list.
- A withdrawal order submitted to us shall be valid for next 8 (eight) Business days. If you do not withdraw the cash within above mentioned period, we shall recognize the withdrawal order as invalid and cancel it.
- The received amount of funds shall be checked by you at cash desk before our employee. If you did not raise a complaint after the check or refused to perform the check, we shall not be obliged to consider your later objections regarding the performed cash operation.
- We have the right to verify the authenticity of the cash received. In case of stating signs of cash forgery, we withdraw such cash from you in order to transfer them to the competent authorities.
- Operations with damaged banknotes, banknotes with notes or stamps shall be possible by prior agreement between you and us. We shall be entitled to apply a special charge to such operations.