Terms and conditions

Terms and Conditions for your Payinter Account

Terms and Conditions for your Payinter Account

Last update: 23 July 2021

1. Interpretation

1. 1.1. These Terms and Conditions of Payinter LTD (“Terms”) are a legal agreement, which regulate relations between Payinter LTD (“Payinter”, “we”, “us”, or “our”) and the Customer (“you” or “your”) and govern the opening, use and closure of your Payinter Account and other related e-Money Services and Payment Services as referred herein (“Services”).
2. 1.2. Payinter LTD is a company limited by shares incorporated in England and Wales with registered number 13498500 whose registered office is at 9 Parkway, London, United Kingdom, NW1 7PG, who is EMD agent of a principal partner organisation, i.e., Electronic money institution authorised by the Financial Conduct Authority (“FCA”) under the Electronic Money Regulations for the issuing of electronic money and the provision of payment services.
3. 1.3. Documents and information that appear on our Website and the we refer to in these Terms are incorporated into the Terms and form an integral part of your agreement with us.
4. 1.4. You can get a current version of these Terms in the relevant section of our Website or contact us and ask us to send you a digital or paper copy of the current Terms.
5. 1.5. Depending on the type of additional services you use, additional terms and conditions may apply as communicated to you at the appropriate time. In the event of any conflict between the additional terms and conditions and these Terms, the former shall come first.
6. 1.6. All information and documents we provide or make available to you will be in English. If these Terms are translated into another language, it is for convenience and reference purposes only. Any reference to an English legal term for any action, remedy, method of judicial proceeding, legal document, legal status, court, official or any legal concept or thing shall, in respect to any other jurisdiction than England and Wales, be deemed to include a reference to that which most nearly approximates to the English legal term in that jurisdiction.
7. 1.7. In these the following words have a defined meaning as follows and may be used in the singular or plural as appropriate:

“Account Access Details” mean all your log-in details, passwords, personal identification number or any other identification or security features relating to your use of the Payinter Account that are provided to you or that may be asked to set up by us from time to time;

“Application Form” means customer registration form you complete in order to apply for receipt of the Services;

“Approved Currency” means any currency approved by us from time to time for holding funds in Payinter Account;

“Authorised User” means, in relation to a Corporate Customer any private individual (natural person) that you authorised to access and manage your Payinter Account and/or provide us with instructions, and/or use any other service and functionality available within your Payinter Account on your behalf;

“Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday in England on which we are open for business and carrying out Transactions. For another party such as the recipient when you make a payment, it means a day on which that other party’s Payment Services Provider is open for business, and carrying out Transactions;

“Circumstances Beyond Our Control” means abnormal and unforeseen circumstances beyond our control and include: strikes, lock-outs or other industrial action; civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; impossibility to the use of railways, shipping, aircraft, motor transport or other means of public or private transport; impossibility to the use of public or private telecommunication networks; and/or the act, decrees, legislation, regulations or restrictions of any national or international government body or organisation;

“Connected” means the following:

1) A Corporate Customer is connected with another Corporate Customer where (a) one Corporate Customer has Control of the other; (b) both Corporate Customers are under Control of the same person or group of persons; or (c) both Corporate Customers have one or more of the same employees, directors and/or shareholders;
2) A Corporate Customer is connected with an Individual if (a) the Individual has Control of the Corporate Customer; (b) the Individual together with persons connected with the Individual has Control of the Corporate Customer; (c) the Individual is an employee, director, member and/or shareholder of the Corporate Customer; and/or
3) An Individual 1 is connected with another Individual 2 if (a) Individual 1 is Individual’s 2 spouse or civil partner or spouse or civil partner of Individual’s 2 relative; (b) Individual 1 is a relative of Individual 2 or relative of Individual’s 2 spouse or civil partner; (c) Individual 1 is the spouse or civil partner of a relative of Individual’s 2 spouse or civil partner.

“Consumer” means any private individual (natural person) acting for purposes outside his trade, business or profession;

“Control” means direct or indirect ownership or control or more than 50% of the voting interests of the Corporate Customer;

“Corporate Customer” means any customer of ours that is not a private individual (natural person), i.e., legal entity, including corporate persons, personal companies and their analogues;

“Customer” means an Individual or Corporate Customer;

“EEA” means the European Economic Area;

“EU” means European Union;

“Electronic Money Regulations” mean the Electronic Money Regulations 2011 (S.I. 2011/99) of the United Kingdom;

“e-Money Services” mean the issue by our principal partner organisation and our distribution of electronic money to our Customer’s Payinter Account and the redemption of such electronic money at the request of the Customer;

“Fees List” means the list of fees charged by us from time to time that is displayed in your Payinter Account;

“Individual” means a natural person that is our Customer;

“Intellectual Property Rights” means copyright, trademarks, domain names, patents, database rights, rights in computer software and all other intellectual property rights of any kind whether these are registered or not in any jurisdiction, country or territory in the world;

“Identifier” means a sequence of letters, numbers and/or symbols used to identify the other party to a Transaction or their account;

“Large Enterprise” means a business which is not a Micro Enterprise;

“Micro Enterprise” means a business (which includes sole traders) which:

employs fewer than 10 persons; and
has a turnover or annual balance sheet that does not exceed EUR 2 million;

“Payinter Account” means a multi-currency non-deposit and non-interest-bearing electronic money account and multi-currency current account you open and maintain with us and which is available to access and view through our Website;

“Payment Services” means:

the transfer of electronic money or funds from your Payinter Account (“Outgoing Payment”) to third parties or to other your accounts;
the receipt to your Payinter Account (“Incoming Payment”) of electronic money or funds from third parties or other your accounts.

“Payment Services Provider” or “PSP” means a provider of payment services, including without limitation credit institutions, electronic money institutions and payment institutions, as defined in relevant laws and regulations;

“Privacy Policy” is the Payinter privacy policy governing the processing of personal data, which is available on the Website, as may be amended from time to time;

“Services” mean the e-Money Services and/or the Payment Services as applicable;

“Terms” means these Terms and Conditions for your Payinter Account, published on the Website and as may be amended from time to time;

“Transaction” means an act, initiated by a payer or recipient, of placing, transferring, or withdrawing funds, including transfers between your Payinter Account to another account you hold;

“Value date” means a day of executing a Transaction;

“Website” means www.payinter.me through which, among other things, you can access your Payinter Account.

1.8. These Terms shall apply to all Customers.
1.9. The headings are inserted in these Terms for convenience only and shall not affect its construction or interpretation.
1.10. A person includes a natural person, corporate or unincorporate body (whether or not having separate legal personality).
1.11. A reference to a holding company or a subsidiary means a holding company or a subsidiary (as the case may be) as defined in the Companies Act 2006.
1.12. Any reference in these Terms to any provision of a statute or statutory instrument shall be construed as a reference to that provision as amended, re-enacted or extended.
1.13. Unless the contrary intention appears, words in the singular include the plural and vice versa; words importing the masculine gender include the feminine and neuter and vice versa; references to persons include bodies’ corporate, unincorporated associations, partnerships, or an authority.
1.14. Any phrase introduced by the term “included”, “including”, “in particular” or any similar expression will be construed as illustrative only and will not limit the sense of the words preceding that term.

2. Payinter Account
1. 2.1.Payinter Account is an electronic money account. The electronic money held in the Payinter Account does not expire and it will not earn any interest. You may use your Payinter Account to:
  1. 2.1.1. hold funds in an Approved Currency; and
  2. 2.1.2. to make and receive payments;

provided that you do not use the Payinter Account in connection with any of the prohibited activities.

2.2. Electronic money accounts are not bank accounts, and funds in the Payinter Account with us is not protected by the Financial Services Compensation Scheme (FSCS). In the unlikely event that our principal electronic money institution becomes insolvent you may lose all or part of the electronic money held in the Payinter Account. However, we and our electronic money institution adheres to all legal requirements (including, but not limited to safeguarding clients’ funds) under European Money Directive 2009/110/EC and applicable legislation of the United Kingdom designed to ensure safety and liquidity of funds deposited in electronic money accounts.
2.3. Funds in the Payinter Account are electronic money, which is issued at nominal value by our principal electronic money institution when funds are being deposited on or transferred to the Payinter Account.
2.4. We will keep reasonable records of the funds you hold in your Payinter Account and of your Transactions using your Payinter Account. A transaction history showing details of the payments you make and receive from your Payinter Account, including a payment reference for each Transaction, the exchange rate applied when carrying out currency conversions and the fees chargeable is available for you to view and download once you have logged into your Payinter Account through our Website using your Account Access Details. That information may be viewed by Transaction or on consolidated statements of account. You should check the Transaction history regularly and inform us if you have any concerns regarding its accuracy or if you do not recognise any of the Transactions listed.
2.5. You may only instruct us to transfer electronic money from the balance available in your Payinter Account. There is no overdraft facility available on the Payinter Account. Accordingly, you must check the Payinter Account balance to make sure you have enough funds in your Payinter Account to make any payment and to pay the fee we charge you for doing so before you instruct us to make payment.
2.6. You have the right to withdraw funds from your Payinter Account at any time. However, you may be required to confirm your identity beforehand. The funds on your Payinter Account must be sufficient to cover the minimum withdrawal amount and any applicable withdrawal fee.
2.7. If for any reason your Payinter Account goes into a negative balance, you are required and obliged to immediately repay such negative balance by transferring sufficient funds into your Payinter Account to bring it back to at least a zero balance. Failure to do so is a breach of these Terms. Repayment of the negative balance is due immediately without notice. However, we reserve the right at any time to send you reminders that you need to repay negative balance or take other debt collection measures including but not limited to instructing a debt collection agency or solicitors to pursue the claim in court. We reserve the right to charge you expenses we have reasonably incurred in connection with any debt collection or enforcement efforts.
2.8. We may limit the value and/or the number of transfers of funds you can instruct us to make into or out of your Payinter Account depending on your country of residence or country of incorporation if you are a Corporate Customer, verification status, and other factors we might consider reasonable. We may change such limits from time to time at our sole discretion.
2.9. The electronic money on a Payinter Account belongs to the Individual or Corporate Customer which is registered with us. No person other than the Individual or Corporate Customer has any rights in relation to the funds held in a Payinter Account, except in cases of succession. You may not assign or transfer your Payinter Account to a third party or otherwise grant any third party a legal or equitable interest over it.

3. Opening a Payinter Account

1. 1. 3.1. In order to use our Payment Services, you must first open a Payinter Account by registering your details on our Website. As part of the Payinter Account opening process, you will need to accept these Terms, our Privacy Policy and other documents, which apply to our business relationship with you, and you must have legal capacity to accept the same. If you order additional services, you may be asked to accept additional terms and conditions.
  2. 3.2. You can apply to open a Payinter Account provided that:
    1. 3.2.1. If you are applying as an Individual, you are at least 18 years of age.
    2. 3.2.2. If you are applying on behalf of a Corporate Customer, you confirm that you have authority to bind a legal entity on whose behalf you use and/or access our Services and that legal entity accepts these Terms.
    3. 3.2.3. You represent and warrant that your opening of a Payinter Account does not violate any laws and/or regulations applicable to you.
  3. 3.3 You cannot open and/or hold a Payinter Account if (a) it is not legal to do so in your country of residence or country of incorporation of you are a Corporate Customer; and/or (b) you are resident of, or if you are a Corporate Customer incorporated in, a country where we do not provide Services.
  4. 3.4. By completing an Application Form, you warrant and represent on an ongoing basis that all the information in the Application Form is true, complete, accurate and correct. You must inform us immediately of any changes to this information.
  5. 3.5. We may request any additional information and/or documents from you and/or ask additional questions in order to open a Payinter Account.
  6. 3.6. We consider Application Form as well as supporting documents and information in their entirety and make decision within a timeframe that is at our sole discretion. Account shall be deemed open when we issue a relevant Payinter Account confirmation to you.
  7. 3.7. You may open and hold one Payinter Account at any time unless. we explicitly approve the opening of additional accounts. If we detect that you have opened more than one Payinter Account without our explicit approval we may close all your Payinter Accounts immediately.
  8. 3.8. We may reject a Payinter Account opening; in this case we shall not be obliged to provide reasons for Application Form rejection. We would inform you that your Application Form for Payinter Account opening has been rejected.
  9. 3.9. Your Payinter Account will hold funds in one or more Approved Currencies designated by you when you set up your Payinter Account with us.
  10. 3.10. Once we have loaded funds to your Payinter Account, these can be redeemed by you only as set out in these Terms.
  11. 3.11. If you have not used your Payinter Account for 6 months or more, we will consider it dormant. Accordingly, you will not be able to use the Payinter Account and we will ask you to re-submit information in order for us to carry out our “Know Your Customer” or other similar checks. You will not be able to use the Payinter Account until we have completed such checks to our satisfaction. We may also charge a fee for inactivity as set out in our Fees List.

4. Receiving payments

1. 1. 4.1. You can receive funds into your Payinter Account using the methods we support from time to time, as set out in our Website and these Terms.
  2. 4.2. Payments into your Payinter Account will be available for you to use on the same Business Day as we receive it, unless before crediting the Transaction on your Payinter Account and making it available for you to use we are required to make a currency conversion involving one or more currencies other than currencies of the EEA.
  3. 4.3. As soon as reasonably practicable after we receive a payment into your Payinter Account we will supply you with:
    1. 4.3.1. a reference so you can identify the payment and payer and any information that was transferred with the payment;
    2. 4.3.2. the amount of payment which we credit into your Payinter Account;
    3. 4.3.3. the fees you pay to receive the payment;
    4. 4.3.4. where applicable, the exchange rate used and the amount of the Transaction before that currency conversion; and
    5. 4.3.5. the credit Value date.
  4. 4.4. Payment shall be deemed to be executed correctly provided that the payment has been credited to the Payinter Account stated in the payment order. We are entitled to credit the Payinter Account taking into account only the Payinter Account number stated in the payment order. However, in some cases and at our absolute discretion, we may but are not obliged to check whether the Payinter 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 updated or amended.
  5. 4.5. You acknowledge that funds received into your Payinter Account may be reversed. You agree that we may reverse a Transaction if the payer or the payer’s bank or Payment Service Provider has charged back or otherwise reversed (or is reasonably likely to chargeback or otherwise reverse) a payment which was used to fund the payment to you. We may also reverse a payment made into your Payinter Account if it is erroneously made due to an error. Before reversing the payment, we may restrict your access to you Payinter Account whilst the reverse is effected.
  6. 4.6. In case the Payinter Account has been credited due to an error or our fault, we are entitled to debit the Payinter Account for the respective amount without any your acceptance or approval, notifying you accordingly in the Payinter Account statement.
  7. 4.7.In case the Payinter Account has been credited dure to the payer’s error, you undertake to cooperate with us in the settlement of consequences of such error. In this relation, you undertake to supply us with the requested information related to funds credited by error within time-frame(s) stated by us. Unless you observe your obligations in respect of cooperation, we are entitled to block funds credited by error until elucidation of circumstances.
  8. 4.8. In some cases, we will credit your Payinter Account before we have received the funds from the relevant Payment Service Provider or bank. If either we do not receive the funds from the bank or Payment Service Provider or we subsequently reverse the payment in accordance with these Terms, we will deduct that amount from your Payinter Account. Before reversing the payment, we may restrict your access to your Payinter Account whilst the reverse is effected.
  9. 4.9. We are entitled not to credit a payment to the Payinter Account or to return the payment to the remitting Payment Service Provider, in the following cases:
    1. 4.9.1. Payment comes from a country or territory that is included in the list of countries and jurisdictions prone to laundering of proceeds deprived from criminal activities or supporting terrorism, or if international sanctions apply to this country or territory, or where the transfer comes from an intermediary outside those countries or territories, but having its parent company registered in a country included in the list of such countries, and also where the transfer comes from a remitting Payment Service Provider included in the list of subjects suspected of laundering of proceeds derived from criminal activity and financing of terrorism, or
    2. 4.9.2. Payer has not been sufficiently identified, or
    3. 4.9.3. In other cases, stated in applicable laws and regulations.
  10. 4.10. In such cases, we will not be liable for any losses or additional expenses that you may directly or indirectly incur due to non-execution or late execution of the payment. Pursuant to applicable laws and regulations in force, we shall be entitled not to explain the reasons for non-crediting or late crediting of the Payinter Account.
  11. 4.11. The receipt of payments is subject to fees and currency exchange (conversion) fees, depending on the type of payment you receive.

5. Making payments

1. 1. 5.1. We will make payments from your Payinter Account in accordance with the payment instructions you give us unless we cannot do so for the reasons described in these Terms. You must give us instructions in accordance with these Terms.
  2. 5.2. In the payment instructions you shall state, among other things, the following:
    1. 5.2.1. Customer’s name and Payinter Account to be debited in our system,
    2. 5.2.2. payment amount,
    3. 5.2.3. payment currency,
    4. 5.2.4. beneficiary’s name,
    5. 5.2.5. beneficiary’s address,
    6. 5.2.6. beneficiary’s account/IBAN number (please note that IBAN is mandatory for most transactions, including SEPA payments),
    7. 5.2.7. full name, address and bank BIC/SWIFT code of beneficiary’s bank or Payment Service Provider and intermediary bank or Payment Service Provider (if applicable),
    8. 5.2.8. payment purpose, and
    9. 5.2.9. other details required in the payment order and necessary for executing the payment.
    10. 5.2.10. Payment purpose stated by you in the payment instruction shall describe the nature of such payment and goods or services paid for clearly and shall state information regarding the underlying document, e.g., invoice, bill, contract etc., for the payment.
  3. 5.3. We would not execute the payment instruction if the Payinter Account balance is insufficient to execute the same, including both the actual payment instruction and our fees. If the Payinter Account balance is insufficient to cover the above, you will not be able to submit the payment instruction.
  4. 5.4. In case you have failed to provide all required information in the payment instruction, we are entitled, but not obliged to ask the Customer to submit missing and/or additional information. If we would not be able to establish correct and necessary information of the payment instruction be the end of the Business Day following the day when the payment instruction was received for its processing, we are entitled to reject the execution of the payment instruction.
  5. 5.5. When you make a payment from your Payinter Account, if you ask us, we will provide you with the following information:
    1. 5.5.1. how long it will take to make the payment (we will tell you the longest time we expect it to make us to do this);
    2. 5.5.2. any fees you must pay to make the payment.
  6. 5.6. As soon as reasonably practicable after we have made a payment from your Payinter Account we will supply you with:
    1. 5.6.1. a reference to identify the payment and recipient;
    2. 5.6.2. the amount in the currency in which we made the payment from your Payinter Account;
    3. 5.6.3. the fees you pay to make the payment with a breakdown of the amounts we charged, if applicable;
    4. 5.6.4. where applicable, the exchange rate used in the amount of the Transaction after the relevant currency conversion; and
    5. 5.6.5. the debit Value date or the date of receipt of the payment.
  7. 5.7. Once we have received confirmation of your payment instruction ordinarily you cannot revoke it unless we agree or unless the payment instruction is to make a payment on a specified future date. For payments other than those specified for a future date, where we agree to reverse the payment instruction, we will use reasonable endeavours to reverse the payment instruction, but we provide no guarantee that the reversal will be affected. For payments on a specified future date, you can revoke the payment instruction up until the end of the Business Day preceding the day on which you wish us to make the payment unless we agree to revoke it later. Our charges for revocation of a payment instruction are set out in the Fees List. You shall also be responsible for any charges of third-party Payment Service Providers (that our or the recipient’s Payment Service Provider used to perform the payment instruction) for any payment instruction that you wish to revoke. If you initiate a Transaction thorough a payment initiation service provider, you may not revoke the payment instruction after giving consent to the payment initiation service provider to initiate the payment.
  8. 5.8. Depending on the nature of the Transaction, not all Approved Currencies will be available to execute a relevant Transaction. In these circumstances we will automatically change the Approved Currency to a currency from which the relevant Transaction can be executed.
  9. 5.9. We may reject to execute the payment instruction in case the provisions set forth herein are not met, and/or if applicable legal or regulatory requirements prohibit the execution of the payment. We shall inform you about the rejected payment instruction unless applicable regulatory requirements prohibit us to inform you. We are entitled to withhold a fee for providing said information. We are not liable for your losses and expenses incurred by you due to our rejection of the payment instruction.
  10. 5.10. We shall not be liable for your losses or other expenses that might be incurred due to non-execution or undue execution of the payment instruction, if the beneficiary’s account number provided in the payment instruction in IBAN or other format, including invalid or incorrect account number, fails to conform to other payment information, and/or if information provided in the payment instruction is incorrect or incomplete.
  11. 5.11. In case precise information for identification of banks or Payment Service Providers to be involved in the execution and processing of payment, e.g., correspondent bank, is not provided in the payment instruction, we shall choose such third parties unilaterally and at our sole discretion. In the execution of payments, we shall execute the payment instruction in a professional way and choose the most effective means in our opinion for execution without your approval.
  12. 5.12. You agree that in case of interbank payments we shall be deemed to have fulfilled our obligations under the payment instruction when the payment amount is passed on to the beneficiary’s bank or correspondent bank or Payment Services Provider, or other intermediary bank or Payment Services Provider, within standard indicated timeframe. Having received the payment amount, the beneficiary’s or correspondent bank or Payment Services Provider, or other intermediary bank or Payment Services Provider shall be liable to you and/or beneficiary for due execution of the payment.
  13. 5.13. We bear no responsibility for a non-executed or unduly executed payment instruction in case due execution of the same is hindered by legal enactments or other regulatory requirements applicable to us.
  14. 5.14. When you make or receive a payment, we will disclose you Payinter Account name (number and other information) to the recipient and/or payer in order to process the respective Transaction.
  15. 5.15. Payments are subject to payment limits due to security and legal requirements. These limits are set depending on your verification status and other circumstances. You can contact us to obtain information on these limits. You should ensure that your limits are sufficient to cover the payment you intend to make as well as any applicable fees including currency conversion fees. You should be aware that the recipient of a payment may also be subject to spending and withdrawal limits and that this may affect the recipient’s access to the funds you intend to transfer.

6. When do we receive and execute your instructions to make payments?

1. 1. 6.1. We will consider any instruction for a Transaction to be authorised by you once you have given us consent to carry it out. You consent to making a payment by following the on-screen prompts when accessing your Payinter Account and using one of the tools we make available for you to confirm instructions. The on-screen prompts will require you to provide the type of unique identifier relevant in each circumstance. This will depend on whether the payment is to an account held with us, or to a payment account with another Payment Service Provider.
  2. 6.2. We will ordinarily receive your payment instruction at the time you confirm it. If your Payinter Account includes functionality that allows you to instruct us to carry out a payment on a specific day, when you use that functionality to make a payment, we will treat the time of receipt of the instruction as being on that specified day. If the agreed day or point in time is not a Business Day, the payment instruction shall be deemed to have been received on the following Business Day.
  3. 6.3. Moment of receipt of the payment instruction shall be the moment when we receive the payment instruction during a Business Day before cut-off time.
  4. 6.4. If the payment instruction is received not on a Business Day and/or beyond the cut-off time, the payment instruction shall be deemed to have been received on the following Business Day.
  5. 6.5. If the payment instruction is to make a payment to another Payinter Account, we execute it at the same Business Day we receive your instruction. If it is an instruction for a Transaction to an account operated by another Payment Service Provider, a payment in euro should normally reach its destination, at the latest, on the following Business Day after the Business Day on which we received your instruction. Other Transactions wholly executed within the EEA may take up to 4 (four) Business Days following the Business Day on which we received your instruction. The time at which we will make other international payments depends on timeframe for doing so at the business hours of other Payment Service Providers.
  6. 6.6. Receipt of the payment instruction shall not guarantee its execution. The condition for the execution of the payment instruction is the compliance of the instruction with all requirements set forth in these Terms and Fees List.
  7. 6.7. Term of executing payments depend on payment types and cut-off times.
  8. 6.8. You shall state the preferred payment type in your payment instruction. If you have not stated the preferred payment type, the payment shall be executed as a standard payment.
  9. 6.9. Before submitting an urgent or express payment instruction, you shall agree upon the possibility of performing an urgent or express payment instruction with us before submitting the instruction. We shall be entitled to unilaterally change status of the instruction from “urgent” or “express” respectively to “standard”.
  10. 6.10. If the payment order is received by us before the cut-off time, we shall pass the payment amount to the beneficiary’s or a correspondent bank on the Value date stated in Fee List. Should the Value date in Fee List appear to be a non-working day of the beneficiary’s or correspondent, or intermediary bank, or the Payment Service Provider, or the payment system used for execution of the payment, or a day set to be a holiday in the issuing country of the payment currency, we shall execute the payment instruction on our next working day or beneficiary’s, correspondent, or intermediary bank next working day.
  11. 6.11. In case of payment to an account opened with another Payment Services Provider or bank, we cannot guarantee that the payment will be credited to the beneficiary’s account on a particular day.
  12. 6.12. We shall credit the payment addressed to your Payinter Account not later than on the following Business Day upon receipt of said payment addressed in our correspondent account, unless other Value date is stated in the payment instruction.
  13. 6.13. In respect of international payments, we are acting for you and on your behalf. We will have to comply with any relevant local and international laws and you agree to indemnify us against all obligations and responsibilities we may incur as a result of acting for you and on your behalf.
  14. 6.14. Whilst we may authorize payments to any named beneficiary, correspondent and/or intermediary bank and/or Payment Services Provider may, at their sole discretion, conduct any (additional) due diligence check it may deem necessary regarding the payment.
  15. 6.15. We shall not be responsible for your losses and other additional expenses incurred by you as a result of non-execution or undue execution of the payment, in case such non-execution or undue execution occurred through the fault of third parties involved in the execution of said payment.

7. Exchange rates

1. 1. 7.1. If you receive a payment, including a refund, in a currency that is not one of the Approved Currencies for your Payinter Account, we will convert it into euro or such other currency as specified on our Fee List. The conversion rate will be indicated by us following receipt of the payment and you agree that we will apply that rate (which you are responsible for checking).
  2. 7.2. To make a Transaction in a currency that is different to the Approved Currency you hold in your Payinter Account you must agree to convert the amount into that other currency before you make the Transaction. We will show you the currency exchange rate for the currency you have chosen and we will ask you to consent to this before the conversion is carried out. By confirming payment instruction, you shall simultaneously agree with this currency exchange rate.
  3. 7.3. We do not control the conversion rates so we apply those indicated by us at the time of the conversion. We cannot display a list of any of the conversion rates as they are live market-based rates. The conversion rate that we use will be indicated in your Payinter Account after we have made the conversion. We also deduct and keep any fees you have agreed to pay for currency conversions. Changes to exchange rates may be made from time to time without notice to you.

8. Fees and charges

1. 1. 8.1. You shall pay remuneration for Services rendered to you by us according to the procedures and to the amount stated in the Terms and Fess List stated on our Website. Depending on the type of commercial activity and turnover of the Customer other fees may apply than those stated on our Website. Some types of fees may be applied by our principal partner directly to you for us and on our behalf in accordance with these Terms and Fee List.
  2. 8.2. The fees that are valid as of the time of rendering the Service shall set the amount and procedures of payment of the fees. We shall be entitled to unilaterally amend the fees. Such amendments shall enter into effect on the 31st day after adoption of same, unless the amendments or the United Kingdom legal enactments state otherwise. We shall inform you of amendments to the fees by means of publication at our Website. We shall additionally inform you individually of the amendments to the fees on instances stipulated in the United Kingdom legal acts only. We shall also be entitled to inform you of amendments to the fees individually by means of a respective notice via your Payinter Account. Should you fail to submit your objections before the day on which amendments to the fees become effective, you shall be deemed to agree to those amendments.
  3. 8.3. Should you disagree to the amendments, you shall be entitled to refuse being rendered a corresponding service by us and to terminate your business relationship with us that is affected by the proposed amendments immediately, before the day on which amendments become effective at the latest, without contractual fine applied. Should the business relationship be terminated, you shall submit all required documents to us and take all required steps to discharge the obligations arising out of the legal relationship between the Parties.
  4. 8.4. The currency exchange rates and reference interest rates, i.e., the rates used by us to calculate the interest applicable to the Transaction, which you can check using publicly available source, set by us shall not be included in the Fees List and shall be stated at the moment of rendering the respective service. Unless stated otherwise in the agreements between the Parties, you consent that the currency exchange rates and reference interest rates set by us may be changed any time without separate prior notification, also during the Business Day, considering currency exchange rate and reference interest rate fluctuations in financial markets. Those amendments shall become effective upon you are notified about them, i.e., upon publishing the changes on our Website. You shall agree that the currency exchange rate published by us may differ from the currency exchange rate applied to a particular Transaction, and we shall be entitled to inform you of the same only after execution of the Transaction by means of account statement and/or report.
  5. 8.5. You are required to familiarize yourself with the Fees List, currency exchange rates and reference interest rates before applying for any our Service.
  6. 8.6. We are entitled to unilaterally state and cancel discounts for you.
  7. 8.7. The fees must be paid before execution of the Service, unless we have stated different procedures of payment of the fees. Unless you have paid the fees to us for our Service, we are entitled to cease rendering such Service to you or refuse rendering the Service without any notice. If we terminate or refuse rendering the service to you because of the reasons mentioned in the previous sentence, we shall not be responsible for your losses or other your additional expenses. We shall be entitled to continue rendering the service at our own discretion in case you have not paid the fees for our service, we consequently acquiring the corresponding rights of claim towards you of the amount equal to the fees.
  8. 8.8. If taxes, duties or similar payments are levied on fees, we shall be entitled to withhold such payments from you, with the fee amount being increased accordingly.
  9. 8.9. We are entitled to debit any of your Payinter Accounts with amount of any claim due under the Transactions you applied for, including amounts of payments applied for by you, fees, currency exchange transactions, taxes, duties, etc., that you have undertaken to perform and/or we are entitled to under the Terms without your acceptance. Unless a sufficient balance in the payment currency is available in your Payinter Account at the moment when such payment is to be made, we shall be entitled to debit the amount of our claim in a different currency at the currency exchange rate stated by us effective as of the moment of debiting the claim amount.
  10. 8.10. Unless a sufficient balance for making the payment is available in your Payinter Account at the moment when the payment is to be made, we shall be entitled to grant credit to you equal to the amount required for making the payment following the provisions of the Terms or to immediately debit the amount of our claim upon your Payinter Account balance is sufficient for making the payment, and this being the case, we shall be entitled to debit the claim amount according to the fees effective as of the moment of debiting the claim amount. If the amount paid by you is insufficient to satisfy all our claims, the claims shall be satisfied in accordance with procedures stated at our discretion, including procedures for first repaying less secured liabilities, and also ensuring that claims arising out of the same liability are first raised with regard to payment of overdue interest on the capital use, then payment of interest on the capital use, then discharge of the principal liability, and then payment of penalty.
  11. 8.11. If you default on your liabilities against us in full or in part, or if your insolvency proceedings, legal protection proceedings or your liquidation process has been initiated, we shall be entitled to use your funds available with us for decreasing the amount of your liabilities or discharging those completely.
  12. 8.12. Prior to the beginning of the Transaction, you can see an updated currency exchange rate in your Payinter Account and, by accepting the Transaction, you shall simultaneously agree with this currency exchange rate.
  13. 8.13. We do not have to provide any Services at the wrong (lower) price shown in error on the Fees List if the pricing error is obvious and clear and could have reasonably been recognised as an error.
  14. 8.14. Notwithstanding any other provision of these Terms, we may deduct from your Payinter Account all fees charged by us, any reversal amounts, and any other amounts owed by you to us.
  15. 8.15. Regardless of the type of instruction, you acknowledge that is we or the Payment Service Provider of your recipient or payer have to use third party Payment Service Providers, those Payment Service Providers may also deduct their own charges from the amount of the Transaction.

9. Your obligations and representations

1. 1. 9.1. When using the Services, you must:
    1. 9.1.1. comply with the instructions for use of the Services, including any instructions in your Payinter Account, or any operational or user documentation that we may make available to you, including all such information relating to the use of our Services available on our Website;
    2. 9.1.2. regularly check the transaction history of your Payinter Account and contact us immediately in case you have any questions or concerns regarding its accuracy or if you do not recognise any the Transactions listed;
    3. 9.1.3. only use the Services for the purposes listed in the Application Form;
    4. 9.1.4. only use the Services for your own purposes, and not for the purposes of any third party;
    5. 9.1.5. check that the instructions you give us to make a Transaction are accurate and correct;
    6. 9.1.6. not use your Payinter Account in connection with any industry or activity set out in our prohibited activity list;
    7. 9.1.7. not use your Payinter Account and/or the Services in any unlawful way including money laundering, terrorist financing or tax evasion;
    8. 9.1.8. answer any questions we reasonably ask in connection with your use of the Services, including without limitation any questions we may ask in order to validate a Transaction, the identity of the payer or recipient or the reason for the Transaction;
    9. 9.1.9. not to attempt to gain unauthorised access to our Website, our software, our servers, computers or databases; and
    10. 9.1.10. not introduce any viruses or harmful code to our Website, our software, servers, computers or databases.
  2. 9.2. You agree to indemnify, defend, reimburse, or compensate us and hold us, our third-party providers, our employees, or agents harmless from any claim or demand (including legal fees) made or incurred by any third party due to or arising out of:
    1. 9.2.1. any failure by you to comply with Section 9.1. above;
    2. 9.2.2. your use of the Payinter Account and/or the Services;
    3. 9.2.3. any inaccuracy in:
      1. 9.2.3.1. any information you give us (including “Know Your Customer” information);
      2. 9.2.3.2 any instruction you give in connection with the Services; and/or
      3. 9.2.3.3. your breach of these Terms or any applicable law and/or regulation.
  3. 9.3. You represent that:
    1. 9.3.1. You have full legal capacity and ability to act in order to execute and perform Transactions.
    2. 9.3.2. You have all rights, permissions, licences and authorisations in order to execute and perform Transactions.
    3. 9.3.3. Transaction and all its consequences are binding upon you and do not cause infringements of law of England and Wales or the laws of the place of performance of the Transaction.
    4. 9.3.4. You are the true beneficiary of Transactions with us (hereinafter referred to as “Beneficiary”), unless you have supplied us with data on a different beneficiary of the Client. The Beneficiary is the person concerned receiving all interest and other benefits resulting from the Transaction.
    5. 9.3.5. All information supplied by you to us, including information on your Beneficiary, activities, financial condition, and location, is true and is not misleading. All documents and notices supplied by you to us are true and valid. You have been informed of criminal responsibility for supplying us with false information.
    6. 9.3.6. You have not offered, promised or given some thing or preference to our employee, directly or indirectly, for the latter to act or abstain from any action in infringement of his duties.
    7. 9.3.7. You are not engaged in money laundering, that is, concealing or disguising the criminal origin of funds or other estate obtained as a result of criminal offence, or in terrorism financing, and your funds have not been obtained through unlawful means.
    8. 9.3.8. You, your authorised official or beneficial owner is not a citizen or resident of FATF call for action countries, such as Iran, Democratic People’s Republic of Korea (North Korea), or any other country or territory when according to FATF or European Commission is considered or will be considered prohibited for cooperation. In case you, your authorised official or beneficial owner is citizen or resident of “FATF other monitored jurisdictions” or any of high risk third countries, designated by European Commission, our AML department will take a special decision regarding the cooperation possibility with you. If you, your authorised official or beneficial owner is citizen or resident of countries or territories with military actions, e.g., war, or political instability, or your business activity is located or related to countries or territories with military actions or political instability, our AML department will take a special decision regarding establishing business relationship with you.
    9. 9.3.9 You, your authorised official or beneficial owner or your related legal entity is not included in OFAC, United Nations, EU or HM Treasury’s financial sanctions regime.
    10. 9.3.10. You do not cooperate with the Iran, Democratic People’s Republic of Korea (North Korea), Cuba, Syria or any other prohibited for cooperation country or territory included in financial sanctions regime and do not cooperate with any individual or company included in the OFAC, United Nations sanctions, EU sanctions, HM Treasury’s financial sanctions regime.
    11. 9.3.11. You are not a national or resident of Iran, Iraq, Democratic People’s Republic of Korea (North Korea), Cuba, Syria or the Crimea region of the Ukraine, or any other country included in the OFAC, United Nations sanctions, HM Treasury’s financial sanctions regime.
  4. 9.4. Your representative, concluding the Transaction on your behalf, certifies that it is duly authorised and entitled to conclude the Transaction, sign documents of the Transaction, and carry out other actions required to perform the Transaction or related to the same. Should such certification be false, your representative concluding the Transaction on your behalf assumes all your obligation against us.
  5. 9.5. We shall be entitled to verify the representation and certification and other information supplied by You at any time. During such verification we are entitled to abstain from performing any Transaction with you.

10. Know your customer checks

1. 10.1. For the prevention of money laundering, terrorism financing, and violation of sanctions, we shall be entitled to request information and documents from you on you, your representatives, and your Beneficiary, also on economic and personal activities, financial status, and source of funds, purposes and the Beneficiary of the concluded, contemplated, or revoked Transactions, etc. It shall be your obligation to supply us with requested information and documents.
2. 10.2. Within the timeframe set out in any request, you will give us all documents and other evidence that we reasonably request at any stage of your use of the Services, or during your application to use the Services. You will give us this information so that we have up-to-date information and can carry out and be satisfied that we have complied with all “Know Your Customer” or other similar checks required under all applicable laws and regulations. The documents and information we may ask you for shall include, without limitation, any documents or other evidence concerning your identity or that of third parties or documentation evidencing the validity of a Transaction.
3. 10.3. If you are an Individual:
  1. 10.3.1. during your verification we request, and you must provide us your identification document, i.e., passport or ID card (if you are from the EU or European Economic Area), a photo of your facial image and the recent confirmation of the actual address (e.g., utility bill, bank statement, bank reference letter, etc.). Actual address confirmation document must be dated within last 3 (three) months from the document uploading date.
  2. 10.3.2. After the successful verification you are assigned with following amounts limits:
    1. 10.3.2.1. 1000 (one thousand) EUR on single Payment,
    2. 10.3.2.2. 5000 (five thousand) EUR on monthly turnover of Incoming Payments,
    3. 10.3.2.3. 15 000 (fifteen thousand) EUR on total turnover of Incoming Payments.
  3. 10.3.3. If you want to increase limits, you will be asked to specify reasons for limits increasing in the Payinter Account and to provide the source of funds confirmation and actual address confirmation document, if the documents were not provided before.
4. 10.4. If you are a Corporate Customer, during verification we request, and you must provide us:
  1. 10.4.1. legal entity foundation documents, e.g., Certificate of Incorporation, Articles of Association and other documents we may request,
  2. 10.4.2. legal entity status confirmation documents, e.g., actual statement from business register, certificate of good standing, certificate of incumbency,
  3. 10.4.3. legal entity’s authorised representative identification document, i.e., passport or national ID card (if you are from the EU or European Economic Area), authorised representative selfie (where Client’s authorised representative is holding the identification document),
  4. 10.4.4. legal entity’s authorised representative recent confirmation of the actual address, e.g., utility bill, bank statement, bank reference letter, etc., and
  5. 10.4.5. legal entity’s representative authority confirmation documents.
  6. 10.4.6. During legal entity verification all beneficial owners and authorised officials must be also verified. For beneficial owners and directors or other authorised officials verification we request to upload each person’s identification documents, e.g., passport or national ID card (if representative is from the EU or European Economic Area, and
  7. 10.4.7. For beneficial owners and directors or other authorised officials verification we request to upload each person’s actual address confirmation documents, e.g., utility bill, bank statement, bank reference letter, etc. Actual address confirmation document must be dated within last 3 (three) months from the document uploading date.
  8. 10.4.8. Depending on legal entity complexity, additional questions regarding verification may be requested by our AML department.
5. 10.5. If there is:
  1. 10.5.1. (in the case of an Individual) any change to your full name, citizenship or postal address;
  2. 10.5.2. (in the case of a Corporate Customer) any change in your status, place of incorporation, registered address, or, where applicable, in the composition of your shareholders, beneficiaries; or
  3. 10.5.3. any change in the information provided in the Application Form;

you must notify us and send us the documents evidencing such changes as soon as possible so our records are up to date. If we discover that any of your information is incorrect, we will update it.

10.6. If there is:
1. 10.6.1. any change to the type of industry that your business operates in; or
2. 10.6.2. the introduction of or any change in (or in the interpretation, administration, or application of) any law or regulation made after we granted you a Payinter Account,

which obliges us to comply with “Know Your Customer” or similar identification procedures, in circumstances where the necessary information is not already available to us, you will promptly give us all documents and other evidence that we reasonably ask for (for ourselves and/or for our principal partner). You give us this information so we can carry out and be satisfied we have completed with all “Know Your Customer” or other similar checks required under all applicable laws and/or regulations.

10.7. You acknowledge that, in compliance with laws and regulations, we are obliged to store all the information about you and your Transactions for at least 5 (five) years after your Payinter Account is terminated.
10.8. You have been informed about determination of your tax residence and your Beneficiary and your classification, e.g., active or passive nonfinancial organization, financial institution, international organization, or central bank, done by us and reporting on your Payinter Account and Beneficiary to the HM Revenue and Customs of the United Kingdom performed by us on instances set forth in external normative acts. You shall supply up to date and complete information about your tax residence and your Beneficiary’s and your classification on your own initiative and following our request.
10.9. You shall be liable for the losses that might be incurred by us where you fail to timely provide up to date and complete information on your own initiative or following our request, due to which your tax residence and of your Beneficiary’s, and your classification are not determined properly and incorrect or unnecessary information about you or your Beneficiary is supplied by us to the HM Revenue and Customs.

11. Our right to reverse, suspend and terminate

1. 11.1. If we:
  1. 11.1.1.have not been provided with any information that we have requested under clause 10 or the information or documentation provided is not satisfactory in our reasonable opinion;
  2. 11.1.2. reasonably believe that you are in breach of these Terms or any other conditions applicable to our Services;
  3. 11.1.3. reasonably believe that your activities can cause damage to our goodwill or reputation;
  4. 11.1.4. have reasonable suspicion of unlawful, fraudulent or criminal activity concerning the use of the Services;
  5. 11.1.5. have reasonable grounds relating to security or credit risk in relation to your use of the Services;
  6. 11.1.6. have a reasonable belief that we are required to do so by law or regulation;
  7. 11.1.7. are no longer able to provide the Services due to a change in or termination of a service from our third-party suppliers, or due to a change in the policies of those suppliers;
  8. 11.1.8. have a reasonable belief that any of the information you provided to us in your Application Form is incorrect;
  9. 11.1.9. have a reasonable belief that you are using the Services for a different purpose than that notified to us by you;
  10. 11.1.10. are given a direction to do so by any court, regulator or other competent regulatory, tax or other authority; and/or
  11. 11.1.11. terminate a third-party Customer’s Services in accordance with our rights set out in these Terms and that third-party Customer is Connected to you

we may immediately:

11.1.12. decline your application for any or all of the Services;
11.1.13. terminate any or all of the Services;
11.1.14. reverse any relevant Transaction;
11.1.15. withhold funds from you, freeze funds or restrict your access to funds or your Payinter Account;
11.1.16. refuse to make payments from or to your Payinter Account; and/or
11.1.17. do anything else we reasonably consider necessary.

We shall inform you of any such actions we take, unless we have a reasonable belief that we are prevented from doing so by law or regulation or we believe that doing so would compromise our anti-fraud or security measures.

11.2. When we withhold funds from you or restrict your access to funds in accordance with these Terms, the subsequent release of or access to those funds is at our sole discretion. Any termination by you of your Payinter Account will not be valid as s cause of action for the release of the funds and you waive any rights to terminate in the event of your own breach of these Terms.
11.3. We may terminate the provision of the Services and close your Payinter Account, for any reason, by giving you at least 30 (thirty) calendar days prior written notice. We will give you written notice of such action to the last postal address or email address, as the case may be, that you have given us, which shall be deemed sufficient notice.
11.4. We are entitled to terminate the provision of the Services and close your Payinter Account unilaterally without prior notice to you, if you do not utilize your Payinter Account for Transactions for more than 6 (six) months in succession.
11.5. If we terminate the provision of the Services and close your Payinter Account we will ask you to provide us details of where you would like us to transfer the balance to, provided that your chosen option is available and there is no limit or other restriction for us to do so, after deducting any fees due and payable by you. We will ordinarily transfer such funds to another account in your name only.
11.6. If we terminate the provision of the Services and close your Payinter Account any of your or our rights or liabilities which have accrued prior to the closure of the Payinter Account shall continue until fully discharged by the relevant party, save for any rights or liabilities which are expressed to continue after the termination of your Payinter Account.
11.7. In the event of the death of an Individual, we shall be entitled to abstain from execution of the instructions of your representatives for the purpose of protection of your estate.
11.8. Where your Beneficiary has died and you fail to provide the information and documents about the new Beneficiary or about an uncompleted inheritance process to us, we shall be entitled to abstain from execution of your instructions and/or Transactions.
11.9. The heirs shall be obliged to submit a document certifying their respective rights to us in order to dispose of the deceased Customer’s estate, as well as shall provide instructions on further disposal of such estate.
11.10. You shall discharge all liabilities arising out of the contractual relationship with us on the day of terminating the contractual relationship at the latest.
11.11. If your Payinter Account is closed following our initiative or you fail to supply us with instruction on Transfer of the funds on the Payinter Account (“account balance”), the account balance shall be kept with us, no interest shall be accrued on the same. The account balance shall be paid out upon your request pursuant to the respective application made in accordance with our requirements and these Terms. We shall be entitled to withhold charge for keeping the account balance after the Payinter Account closure in accordance with the Fees List. Before paying the balance out, we shall be entitled to perform your identification following the procedure set forth in these Terms.

12. Your right to close your Payinter Account

1. 1. 12.1. You may close your Payinter Account by giving us at least 30 (thirty) calendar days notice before the date of termination.
  2. 12.2. You may not instruct us to carry out any Services after you have instructed us to close your Payinter Account. However, we will carry out any instructions in accordance with these Terms that you have given us for any Services prior to your instruction to close your Payinter Account.
  3. 12.3. When you give us notice to close your Payinter Account you will not be entitled to a refund of any Transactions you have made or of any fees that you may have incurred on the Payinter Account, which are then due and payable by you. We may deduct these fees from the balance on your Payinter Account. We will close your Payinter Account after all amounts have been paid by you or deducted by us from your Payinter Account. We will ask you to provide us details of where you would like to transfer the balance to, provided that your chosen option is available and there is no limit or other restriction for us to do so, after deducting any fees due and payable by you. We will ordinarily transfer funds to another account in your name only.

13. Refusing a payment

1. 1. 13.1. We may refuse to carry out any instruction from you or refuse to accept funds into your Payinter Account if:
    1. 13.1.1. you are in breach of these Terms;
    2. 13.1.2. the relevant Transaction is contrary to our policies;
    3. 13.1.3. it is unlawful to carry out your instructions or to accept the funds; or
    4. 13.1.4. our third-party Payment Service Providers have refused the relevant Transaction for whatever reason. If a third-party Payment Service Provider refuses to execute the relevant Transaction, they may return the relevant funds less an amount equal to their charges or processing the Transaction, even if they reject the Transaction.
  2. 13.2. If we refuse to carry out an instruction, we will tell you at the time we refuse to make the payment and the reasons why, unless it is unlawful for us to do so. Where it is possible to rectify the reason for our refusal, we will tell you how to remedy the issue.
  3. 13.3. We will treat a payment instruction which we refuse as not having been received by us, and these Terms will therefore not apply to such payment instructions. We shall not be liable for any losses you suffer as a result of us refusing a payment instruction.

14. Prohibited transactions

1. 1. 14.1. It is strictly forbidden to make or receive payments in consideration for sale or supply of tobacco products, prescription drugs, drugs and drug paraphernalia, weapons (incl. guns, firearms, ammunition, knives, etc.), satellite and TV descramblers, pornography and adult material, material that incites violence, hate or racism, and which is considered obscene, government IDs and licenses (incl. replicas), any counterfeit products, unlicensed or illegal lotteries or gambling services, unregistered charity services, items that encourage or facilitate illegal activities, third party processing or payment aggregation products or services, multi-level marketing, pyramid selling and Ponzi schemes, matrix programs and any similar high yield pseudo-investment programs, goods and services that infringe on the intellectual property rights of a third party, timeshares and similar or related services, as well illegal gambling services (incl. illegal sports betting, casino games and poker games), and payments from/to shell banks. We reserve the right, in our sole discretion, to add categories of prohibited Transactions by adding such categories to these Terms, and to close the Payinter Account if any evidence of the above restricted activities is discovered in the Payinter Account.
  2. 14.2. It is strictly forbidden to make payments to or to receive payments from persons or entities offering illegal gambling services, including, but not limited to, illegal sports betting, casino games and poker games. We may suspend or terminate your Payinter Account at any time or refuse to execute or reverse a Transaction if we believe that you directly or indirectly use or have used your Payinter Account for or in connection with illegal gambling Transactions. This list is not exhaustive, and it is your responsibility to ensure that you do not use our services for transactions that may be considered illegal in your jurisdiction.
  3. 14.3. You may not use our Services if you are residing in certain countries. A list of non-serviced countries is available on our Website and updated from time to time. This list is not exhaustive, and we may in our sole discretion decide to discontinue or restrict our Services in other countries at any time and without prior notice. We reserve the right to suspend or terminate your Payinter Account at any time if we reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognised body for the prevention of financial crime.
  4. 14.4. It is strictly forbidden to use your Payinter Account for any illegal purposes including but not limited to fraud and money laundering. We will investigate and report any suspicious activity to the relevant law enforcement agency. We reserve the right to charge you in our sole discretion an administration fee as displayed in the Fees List on our Website and/or your Payinter Account for every investigation we undertake into any such suspicious activity, including where we get notified thereof by any third party whom we partner with. You are prohibited from using your Payinter Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant or a third-party provider on the services it provides.
  5. 14.5. If you conduct or attempt to conduct any Transaction in violation of the prohibitions contained in this section 14, we reserve the right to: reverse the Transaction; and/or close or suspend your Payinter Account; and/or report the Transaction to the relevant law enforcement agency; and/or claim damages from you; and charge you an administration fee as displayed in the Fees List available on our Website and/or your Payinter Account if we apply any of the above.
  6. 14.6. It is your responsibility to ensure that you make payments to and/or receive payments from persons and/or entities for the sale and supply of goods and services that may be provided or received in conformity with any applicable rules and regulations.

15. Keeping your security details safe

1. 1. 15.1 You must (and in relation to Corporate Customers, you must procure that your Authorised Users):
    1. 15.1.1. treat the funds held in your Payinter Account as carefully as you would treat cash in your wallet; and
    2. 15.1.2. from the time to time, you receive them, keep all your Account Access Details safe and secure. To avoid your Account Access Details being used by someone else you must treat them as confidential and safe, so you must not disclose them to anyone else and you must not keep a written record of them which identifies them and how to use them. Our personnel will never ask you to provide your password to us or to someone else.
  2. 15.2. Any message you receive or website you visit that asks for your Account Access Details, other than our Website should be reported to us. If you are in doubt whether a website is genuine, you should contact us. It is advisable to change your password regularly (at least every 3 (three) to 6 (six) months) in order to reduce the risk of a security breach in relation to your Payinter Account. We also advise you not to choose a password that is easily guessed from information someone might know or gather about you or a password that has a meaning.
  3. 15.3. Use of the Payinter Account by someone other than you (or in case of a Corporate Customer, an Authorised User) may mean you lose some or all of the funds available in your Payinter Account.
  4. 15.4. If you (or an Authorised User in the case of a Corporate Customer) suspect any Account Access Details have been lost, stolen, misappropriated, used without authorisation or otherwise compromised, you must contact us immediately by using the internal ticket system on our Website or by email to support@payinter.me to change your Account Access Details. If you allow another person (other than an Authorised User in the case of Corporate Customer) to have access to your Payinter Account, we will treat this as if you have authorised such use and you will be liable for all Transactions and fees incurred by such use.
  5. 15.5. We may stop you or, in relation to a Corporate Customer, any Authorised User using any Account Access Details if we have reasonable grounds to believe they are no longer confidential to you or the Authorised User as applicable or have been used fraudulently or without your authorisation. If possible, we will notify you by email, telephone or SMS using the latest contact details you have supplied to us before we stop you using such identification or security feature, to tell you that we intend to do so and why.
  6. 15.6. If we cannot contact you before we stop the use of the Account Access Details we will do so immediately afterwards. We will not contact you to tell you we intend or have stopped the use of the Account Access Details, if we are prevented from doing so by law or if it would adversely affect our reasonable security measures. We will either reinstate the Account Access Details as soon as practicable after the reasons for stopping its use have ceased or, at that time, issue you with replacement Account Access Details to use. When the reasons for us stopping your use of the Account Access Details cease, unless we have already issued you with replacement Account Access Details, you can contact us at any time using the internal ticket system on our Website or by email to support@payinter.me to request that we allow you to use the Account Access Details again. We, our agents and/or the police may ask you to assist us as part of our or their inquiries where your Payinter Account has been used by someone other than you without your consent.

16. Authorised Users

1. 1. 16.1. You shall be entitled to authorise a third person (Authorised User), including another our Customer, provided our prior consent, to perform a Transaction on your behalf. Such authorisation shall be executed by you in writing and made in accordance with our requirements. We shall be entitled to refuse to conclude a Transaction with you in case such authorisation is executed in default or breach of our requirements, or we have a reason to believe that such authorisation is not valid. We shall verify execution of the authorisation; however, we shall not be responsible for other conditions of validity.
  2. 16.2. A power of attorney submitted to us shall be considered valid in relations between you and us until the moment when you submit a written revocation of such power of attorney to us provided that rights of representation or attorney of your representatives are revoked upon we accept such revocation submitted by you, or validity of such power of attorney expires. We shall not be responsible for losses or other your additional expenses, where a power of attorney is revoked and we have not been notified accordingly in writing. Where your Authorised User acts on the basis of substitution of your another Authorised User (“assignment”), powers of such your Authorised User shall be considered extended, if the powers of the primary Authorised User have been extended, or where a power of attorney of similar content has been issued to the primary Authorised User and the assignment has no stated term of validity.
  3. 16.3. You are obliged to ensure in compliance with our requirements that we are in constant possession of documents certifying powers of your Authorised Users to act on your behalf and identifying your Authorised Users. Unless you supply us with such documents, we shall be entitled to immediately refuse to perform the Transaction in whole or in part.
  4. 16.4. Where another our Customer is authorized to perform the Transactions on your behalf, the representatives of such another Customer shall be entitled to act on your behalf according to the card of specimen signatures submitted to us by this another Customer.
  5. 16.5. You must notify us in writing immediately upon any change in the information provided regarding the Authorised User and its scope of authority to give instructions on your behalf.
  6. 16.6. You are responsible for the integrity of and all acts and omissions of all Authorised Users and we shall not be responsible for any loss or harm which you or any other person may suffer or incur as a result of any act or omission of any Authorised User.
  7. 16.7. We are not responsible to you or anyone else if any Authorised User provides us with instructions which are against your interests or outside of the scope of the Authorised User’s actual authority.
  8. 16.8. You are responsible for ensuring that only Authorised Users access your Payinter Account and/or instruct us to carry out Transactions on your behalf. If we receive instructions or a request using your or an Authorised User’s Account Access Details, we will treat the instructions as having been authorised by you and we are under no obligation to verify the authenticity of an instruction if it comes from an Authorised User.
  9. 16.9. You shall ensure that any and all Authorised Users are aware of these Terms and will procure that such Authorised Users comply with these Terms.
  10. 16.10. In case your outstanding payment liabilities to us arising out of the Transactions between you and us become due, you shall authorize us to perform any of the actions listed below at our sole discretion:
    1. 16.10.1. debit the amount of funds required for discharging your liabilities to us from any of your Accounts,
    2. 16.10.2. perform currency exchange Transactions with regard to the funds on any of your Accounts.

17. Transaction disputes

1. 17.1. If you believe that:
  1. 17.1.1. any Transaction was:
    1. 17.1.1.1. not authorised by you; or
    2. 17.1.1.2. incorrectly executed by us;

then you must notify us without delay as soon as you become aware of it, but not later than

17.1.1.3. 1 (one) month (if you are Large Enterprise); or
17.1.1.4. 13 (thirteen) months (if you are Consumer or Micro-Enterprise)

after the date of the unauthorised or incorrectly executed Transaction or when you became aware of such unauthorised or incorrectly executed Transaction. For a period of 18 (eighteen) months following your notification, you have the right to request that we provide you with means to confirm your notification.

17.2. You must pay for all losses resulting from an unauthorised Transaction where you have (a) acted fraudulently; or (b) with intent or gross negligence (i) failed to safeguard the Account Access Details; (ii) failed to comply with these Terms regarding the use of the Services; and/or (iii) did not notify us without delay in the way required in clauses 15.4. and 17.1., when you became aware the Account Access Details were lost, stolen, or used without your authorisation.
17.3. If you are a Consumer or Micro-Enterprise, provided that (a) you have notified us as required by clauses 15.4. and 17.1.; (b) we cannot show that the Transaction was authorised by you, and (c) clause 17.2. does not apply then we will refund the amount of the unauthorised Transaction to your Payinter Account. Unless we have reasonable grounds to suspect fraudulent behaviour, we will make the refund as soon as practicable, and in any event no later than the end of the Business Day following the day on which we became aware of the unauthorised Transaction.
17.4. If you are a Consumer or Micro-Enterprise, you must pay up to a maximum amount of GBP 35 for any losses we suffer from an unauthorised Transaction due to the use of lost or stolen Account Access Details, unless (i) it was not possible for you to detect the use of the lost or stolen Account Access Details before the Transaction; or (ii) the losses we suffer were caused by us or our agents.
17.5. If you are a Consumer or Micro-Enterprise, unless you acted fraudulently, you are not liable for any losses resulting from an unauthorised Transaction:
1. 17.5.1. after you notify us as required in clauses 15.4. and 17.1.;
2. 17.5.2. if you could not notify us as we failed to provide you with the means at all times to tell us about Account Access Details that have been lost, stolen, misappropriated, used without authorisation, or otherwise compromised;
3. 17.5.3. if we fail to apply strong customer authentication, where this is required by law or regulation; or
4. 17.5.4. where you used the Payinter Account to buy goods or services at a distance, unless the law says you are liable for the loss.
17.6. If you are a Large Enterprise, you will have to prove to us that a Transaction was not authorised by you. If you do so and you have notified us in accordance with clauses 15.4 and 17.1 and clause 17.2 does not apply, we will be liable to refund the amount of the unauthorised Transaction to your Payinter Account, but subject to our limit of liability set out in clause 18.2. We shall make the refund as soon as practicable and, in any event no later than the end of the Business Day following the day on which we became aware of the unauthorised Transaction. You shall, on request, provide such independently verified or verifiable information as we may reasonably ask in order to determine whether you are a Large Enterprise.
17.7. Save as set out in these Terms, Transactions are non-refundable and are non-reversible. You may not charge back any Transaction for reasons for which we are not responsible including, without limitation, disputes with third parties for non-delivery of goods and/or services. We are not liable for any claims resulting from a commercial transaction between you and a third party.
17.8. If we provide you with an Identifier and we and all the other service providers involved in making the Transaction carry out your instructions in accordance with the Identifier, then we are entitled to consider it was carried out correctly.
17.9. If you give us an incorrect Identifier or other incorrect details, then we are not responsible for failing to carry the Transaction out or for carrying it out in accordance with your instructions. If the Transaction has been misdirected because you gave us an incorrect Identifier, we will make reasonable efforts to recover the funds in the Transaction, but we provide no guarantee that the funds will be recovered. We may charge you a fee as set out in the Fees List for doing this. If we are unable to recover the funds, we will, upon your written request, provide you all available relevant information in order for you to claim repayment of the funds. If you are the recipient of a Transaction made with an incorrect Identifier, you will cooperate with us in order to return the funds where appropriate and we will cooperate with the payer’s Payment Service Provider in its efforts to recover the funds, in particular by providing it with all relevant information for the collection of the funds.
17.10. Please note that even if you give us information additional to the Identifier or to the information we asked for to make the Transaction, we are only responsible for carrying out the Transaction in accordance with the Identifier.
17.11. Where you are the payer of a Transaction which has not been correctly executed by us, we shall, without undue delay, refund to you the amount of the non-executed or defective Transaction and, where applicable, restore your account to the state in which it would have been if the Transaction had been executed correctly. Where the Transaction has been executed late you may ask us to request the recipient’s Payment Service Provider to credit Value date the recipient’s account as if the Transaction had been executed correctly.
17.12. If you are the recipient of a Transaction that has been executed late, and we receive a request from your payer’s Payment Service Provider, we will ensure that the credit Value date used in your Payinter Account is no later than the date the amount of the Transaction would have been value dated if the Transaction had been executed on time.
17.13. You may apply to us for correction(s) in the payment instruction submitted to us. Nonetheless, we do not guarantee that the payment instruction will be corrected. If the payment instruction has not been executed yet, we shall ensure correction of the payment instruction as requested by you. If you wish to correct the payment instruction that has already been executed, we shall, to the extent possible, contact the beneficiary’s or correspondent bank to request corrections in the executed payment instruction; however, there is no guarantee that these corrections will be made.
17.14. You may apply to us for the cancellation of the payment instruction submitted to us. Nonetheless, we do not guarantee that the payment instruction will be cancelled. If the payment instruction has not been executed yet, we shall apply reasonable and available measures in order to ensure that the payment instruction will not be executed. If you wish to cancel the payment instruction that has already been executed:
1. 17.14.1. in case of an interbank payment – we shall, to the extent possible, contact the beneficiary’s or correspondent bank or Payment Service Provider to receive back the funds transferred. We shall refund funds to the Payinter Account only once we ascertain that the payment instruction has not been executed and after we receive the funds back from the beneficiary’s or correspondent bank or Payment Service Provider;
2. 17.14.1. in case of an intra-bank payment – we shall, to the extent possible, try to contact the beneficiary to obtain its consent to the payment refund. Payment shall be refunded to the payer only after the beneficiary consents to the same.
17.15. You have the right to request that we make efforts to trace any non-executed or defectively executed Transaction and notify you of the outcome.
17.16. Upon receiving your application and all necessary supporting evidence, we shall investigate a transfer of funds transferred by you or addressed to you and not received.
17.17. We would withhold the fees from you for correction, cancellation, investigation and refund of payments, as well as all fees and charges withheld by other Payment Service providers or banks involved in the respective actions and processes.

18. Our responsibilities

1. 1. 18.1. We shall at all times perform our obligations under the Terms and carry out the Services with reasonable care and skill.
  2. 18.2. Subject to clause 18.4. if, in providing the Services, we fail to comply with these Terms, our aggregate liability to you (whether in contract, tort, negligence, breach of statutory duty or otherwise) in any calendar year shall not exceed:
    1. 18.2.1. (if you are a Corporate Customer) the total amount of fees you paid us during that year for our Services; or
    2. 18.2.2. (if you are a Consumer) any losses you suffer which are a reasonably foreseeable consequence for such failure.
  3. 18.3. Subject to clause 17.4. and unless you are a Consumer, we will not pay for losses that fail into the following categories, even if those losses result from our deliberate failure to comply with our obligations under these Terms:
    1. 18.3.1. indirect or consequential loss;
    2. 18.3.2. loss of income or revenue;
    3. 18.3.3. loss of business;
    4. 18.3.4. loss of profits;
    5. 18.3.5. pure economic loss;
    6. 18.3.6. loss of anticipated savings; or
    7. 18.3.7. waste of management or office time.
  4. 18.4. We do not exclude or limit our liability for:
    1. 18.4.1. death or personal injury by our negligence;
    2. 18.4.2. fraud or fraudulent misrepresentation by us; or
    3. 18.4.3. any other matter for which it would be illegal for us to exclude or limit our liability.
  5. 18.5.We are not liable for any loss or damage caused by virus, other technological attacks or harmful material that may infect your computer equipment, computer programmes (software), data or other proprietary material related to your use of our Services.

19. Safeguarding your funds

1. 1. 19.1. We implement and maintain procedures designed to safeguard Customer’s funds. We fully comply with the relevant safeguarding requirements of applicable laws and regulations, as well as directives and instructions of the Financial Conduct Authority (FCA UK).
  2. 19.2. We safeguard Customer’s funds received in exchange for the issue of electronic money and funds received from Customers or via another Payment Service Provider and/or bank for the execution of payment Transactions.
  3. 19.3. We do not commingle safeguarded funds at any time with the funds of any natural or legal person, including our own funds. To that effect, for safeguarding purposes, we allocate safeguarded funds in separate so-called Customer’s funds accounts.
  4. 19.4. As your Payinter Account is an electronic money account and not a bank account, you acknowledge that the Financial Services Compensation Scheme in the UK does not apply to your Payinter Account.

20. Set-off

1. 1. 20.1. If any circumstances arise which, in accordance with these Terms, entitles us to be compensated by you, we shall be entitled to recover any sum due to us by setting-off part or all of any sum that you have lodged with us, either in your Payinter Account or otherwise against the sums you owe us. We shall accordingly deduct such sums from your Payinter Account. You shall have no similar right of set-off.

21. Lien

1. 1. 21.1. We are entitled to exercise a lien over any and all your assets, funds and properties which, for any reason, are in or which howsoever come into our possession or control. We may dispose of or sell such assets, funds and properties and apply the proceeds of sale after deduction of expenses to satisfy any obligations, indebtedness and liabilities owed by you to us.

22. Indemnity

1. 1. 22.1. In addition and without prejudice to the powers, rights and remedies conferred on us herein and by any applicable law and statutory regulations, you shall hold us free from liability and hereby indemnifies us against any loss, damage and expense, including but not limited to legal expenses, which we may sustain or incur as a consequence of (i) performing on any your instruction and/or (ii) providing any service to you and/or (iii) any default in payment by you of any sum owing including but not limited to any interest/charge or fees paid or payable in the Account.
  2. 22.2. You shall take every measure necessary in order to keep us indemnified from any responsibility for any your instruction/order given to us, and you shall cover all our losses, expenses and obligations arising out of and/or in connection with and/or as a result of your negligence, malicious action and/or fault of your obligations, immediately upon our request.

23. Force Majeure

1. 1. 23.1. We are not responsible for non-performance of our obligations and/or for any breach of these Terms by us, or for any loss you incur in connection with such breach, if it has been caused or due to any Force Majeure Event, e.g., war, riots, forces of nature, actions of public authorities, e.g., state, local government, supervisory authorities, or any other circumstances beyond the power or control of the relevant party, e.g., strike, general failure of computer systems, failure of communication lines or power failure, denial of service attack. Any failure of the correspondent bank and/or Payment Service Provider shall be considered a force majeure as well.
  2. 23.2. Our performance of the Services is deemed to be suspended for the period that the Force Majeure Event continues, and we will have an extension of time for performance for the duration of that period.
  3. 23.3. If any Force Majeure Event occur, we may take any action we consider appropriate in connection with the Services and use reasonable endeavours to end the Force Majeure Event.

24. Accessing our Services

1. 1. 24.1. We shall use reasonable endeavours to make sure our Services are available to you when you need them. However, we do not warrant or guarantee that the Services will be uninterrupted or error free. Except as required under law, we shall not be liable for any (a) service interruptions, including but not limited to, system and/or software failures, delays, disruptions or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of Transactions or the Services; and/or (b) any faults, mistakes or inaccuracies of any kind in our Services. This paragraph does not apply to our responsibility to refund any funds under paragraph 17 in respect of Transaction disputes.
  2. 24.2. The Services are provided on an “as is” basis and without any representation or warranty, whether express, implied, or statutory. We make no representation of any kind whatsoever for the Services or the content, materials, information, and functions made accessible by the Services or used on or accessed through the Services.

25. Notice and communication

1. 1. 25.1. Any information, applications, instructions, notices, complaints and requests arising out of the business relationship between the Parties, i.e., Notice or Notices, may be submitted in person, sent in writing through a postal operator, subject to our prior consent also in electronic form by e-mail, via your Payinter Account.
  2. 25.2. A Notice sent by you to us by e-mail pursuant to prior arrangement with us shall be valid only provided the same contains your authorization code calculated according to our requirements or the Notice is signed with a secure electronic signature.
  3. 25.3. Notices to us may be delivered verbally in cases explicitly stated in these Terms or on instances defined as mandatory in the United Kingdom regulations.
  4. 25.4. All Notices submitted to us shall be completed without corrections, deletions, erasures or miswriting, i.e., lapsus calami, and shall be clearly legible and complying with the requirements set herein. All Notices shall bear your own signature, be signed with a secure electronic signature or confirmed with your authentication means ensured by us.
  5. 25.5. Notices to us that are sent through a postal operator shall be sent to our registered address, and those shall be deemed received by us upon they are recorded in our document registry. Notices sent by e-mail shall be deemed received by us after we confirm their receipt.
  6. 25.6. Notices to you shall be sent through a postal operator to your registered address (for Corporate Customer) or residential address (for Individuals), or to another correspondence address last communicated by you to us.
  7. 25.7. We shall not be responsible for losses or expenses incurred by you or a third party in case you have not notified us on change of address where Notices shall be sent or has provided inaccurate or incorrect address designated for sending the Notices, and consequently has not received the Notices from us, or has not received them in due time. We shall also be entitled to send Notices to you following some other procedures set by us, including communicating them via email, your Payinter Account, or other electronic means and verbally.
  8. 25.8. If a Notice is sent to you through a postal operator, the same shall be considered received on the third Business Day after it has been given to the postal operator, regardless of its actual receipt by you.
  9. 25.9. In case a Notice is sent to you by electronic means of communication, the same shall be considered received at the moment of being sent, regardless of its actual receipt. We shall not be responsible for your losses or other additional expenses, which you may sustain due to transmission failure, delay, or misuse of information.
  10. 25.10. You authorise all your representatives, as well as other persons being at the address where the Notices are sent, to receive such Notices. In case any such authorised representative receives a Notice, you shall be considered to have received such Notice. We are entitled to record verbal Notices. You acknowledge such our recordings to constitute an equivalent of a written Notices received by you.
  11. 25.11. The signature of our employee on the Notice submitted by you constitutes acceptance of such Notice for processing but does not trigger our liability for execution of the Notice. Execution of the Transaction is only evidenced by the Transaction being authorised on your Payinter Account or by a confirmation of its execution processed by us.
  12. 25.12. Only Notices in English or Russian shall be legally valid. You agree that the language chosen by you for receiving Payinter Account statements or another language used in your Notice shall be the language of receiving the Notices from us. In case Payinter Account statements have not been ordered by you, we shall be entitled to send Notices to you in the language of your Notice submitted to us or any of two languages mentioned above.
  13. 25.13. You are obliged to make a Notice clear and certain. We are entitled to refuse to execute an unclear Notice at our own discretion in full or partially. In case figures in the Notice are stated both in words and in numbers simultaneously, figures stated in words are valid in case of discrepancies.
  14. 25.14. If we consider that there are potential inadequacies in your Notice, including with respect to its authenticity or validity, or we have doubts concerning the document content, we are entitled to request that you shall repeat the Notice according to the form specified by us or we may request that the Notice should be translated into English and translation to be legalised. We are entitled to refuse execution of the Notice until a repeated Notice is received by us.
  15. 25.15. You instruction submitted to us is valid for six Business Days from the date of submission of such instruction to us.
  16. 25.16. We shall process Notices on Business Days during our normal working hours. If we have received a Notice at any other time, the following Business Day shall be considered the date of receival of the Notice for execution.
  17. 25.17. We shall be entitled to send on our own initiative any Notices to you about Services provided by us via texts (SMS) or e-mail to your mobile telephone numbers and e-mail addresses confirmed by you, also to sign the Notices with a secure electronic signature.
  18. 25.18. Where legislation requires us to provide information to you on a durable medium, we will either send you an email (with or without attachment) or send you a notification pointing you to information on our Website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference.

26. Your personal data and confidentiality

1. 1. 26.1. If you, your representative, Authorised User or Beneficiary are private individuals, you, your representative, Authorised User and Beneficiary, establishing business relations with us, agree that we are entitled to process all personal data of you, your representative, Authorised User and Beneficiary in accordance with provisions of the United Kingdom normative acts, including person’s identity data.
  2. 26.2. The reason and purpose of processing of personal data is for use in the needs of rendering our Services and ensuring of our activities and performance of our functions.
  3. 26.3. We shall be entitled to request, to receive and to process personal data of you and your representative, Authorised User and Beneficiary from other sources, including from private systems for personal data processing and those of government and municipal institutions.
  4. 26.4. In cases of disclosure of your information stated in these Terms, the data of individuals available to us may be disclosed to third parties that render services to us or represent our interests, entrusted by us with fulfilment of liabilities stated in these Terms, or with whom we otherwise cooperate in securing our activities and performing our functions. You, your representative, Authorised User and Beneficiary shall agree to persons that are provided personal data on instances of disclosing your information pursuant to these Terms being entitled to process all personal data of you, your representative, Authorised User and Beneficiary, including sensitive data and person’s identity numbers.
  5. 26.5. A private individual on written application to us is entitled to review such private individual’s processed personal data available to us and this private individual may amend or correct same according to normative acts applicable in the United Kingdom on protection of personal data of private individuals.
  6. 26.6. If you, your representative and Authorised User are individuals, we are entitled to use available personal data of you, your representative and Authorised User, in order to supply you verbally, by post or by electronic means with information on our products and services.
  7. 26.7. We acknowledge that all information related to you, the Transaction and your relations with third persons, and provided by you to us, is confidential and shall not be disclosed to third persons without your consent, except the information that:
    1. 26.7.1. is publicly available, or
    2. 26.7.2. is disclosed to an assignee on the rights of claim assigned, or is disclosed to third parties with regard to entering into partnership agreements or other financing agreements, or
    3. 26.7.3. at the request of the Payment Service Providers or banks and is required for Payment Service Providers or banks involved in execution of the Transaction authorised by you, or
    4. 26.7.4. might be an evidence of a criminal offence or your breach under Transactions, or is necessary for detection and investigation of such criminal offence or breach, or
    5. 26.7.5. is disclosed to third parties that supervise and audit our business activities, or
    6. 26.7.6. is provided to competent authorities of the United Kingdom, the European Union or other states for performing their functions pursuant to legal enactments, or
    7. 26.7.7. is provided to tax administration authorities of the United Kingdom, the European Union, or other states, pursuant to provisions of the cooperation agreements made between us and the tax administration authorities of the said states pursuant to the provisions of applicable legal acts, or ;
    8. 26.7.8. is provided to our outsource service providers, personal data operators and attorneys, or
    9. 26.7.9. is provided to our cooperation partners that provide services to us or with whom we otherwise cooperate for the sake of execution of your instructions, payment instructions, Transactions or our functions, or for complying with the requirements set forth in the applicable law and regulation, or
    10. 26.7.10. is provided to foreign supervisory institutions pursuant to the provisions of applicable law and regulation, or
    11. 26.7.11. is provided to the court, court of arbitration, or for the sake of out-of-court dispute resolution pursuant to the provisions of applicable law and regulation, or
    12. 26.7.12. was provided by us discretion with regard to you or the persons related to you, following the request from a Payment Service Provider or correspondent bank located in the UK, EU or outside the UK or European Union and involved in execution of your payment instruction, or
    13. 26.7.13. is your information, e.g., name, surname, identity No., and other your identification data, supplied to the beneficiary of the payment authorised by you, according to the requirements of the payment processing schemes. You consent that on the instances mentioned in sections 26.7.3. – 26.7.12., we shall be also entitled to transfer information outside United Kingdom, complying with the procedure set forth in the applicable normative acts.
  8. 26.8 Our confidential information is confidential and is not to be disclosed. Confidential information may only be disclosed in compliance with law of England and Wales and these Terms.
  9. 26.9 You agree that we are entitled to record and keep all communication between you and us without prior notification and to unilaterally choose technical means for recording it. You agree that we are entitled to use records of all communication between you and us as evidence for protecting our interests in settling disputes and in court proceedings. We shall not be obliged to store records of all communication between you and us for your benefit.

27. Intellectual property

1. 1. 27.1. The Website, Payinter Account and all Intellectual Property Rights contained therein, including but not limited to the content, are owned or licenced by us. Nothing in these Terms grants you or your Authorised Users (if you are a Corporate Customer) any rights in our Website and Payinter Account, other than as necessary to use the Payinter Account and/or Services as permitted under these Terms.

28. No liability for tax

1. 1. 28.1. Save as required by any applicable law or regulation, we have no obligation whatsoever to any taxation or similar authority in respect of any taxation or other similar duty or levy payable by any Customer. It is your obligation to report and pay all taxation, duties and levies that are payable by you in respect of your Payinter Account and the Services.

29. Governing law, complaints procedure and dispute resolution

1. 1. 29.1. Business relationship between you and us shall be subject to the law of England and Wales and the European Union, international banking practice and customary practices.
  2. 29.2. We shall apply special legal norms set forth in the normative acts on consumer rights protection to business relations with the Customers that are recognised as Consumers under the normative acts on consumer rights protection applicable in England and Wales.
  3. 29.3. Any complaints about us or the Services we provide should be addressed to us in the first instance by contacting us. You should clearly indicate that you are wishing to make a complaint to us. This helps us to distinguish a complaint from a mere query. We send you a complaint acknowledgement by post or by email within 48 hours of receiving your complaint in accordance with our complaints procedure.
  4. 29.4. We endeavour to provide you with an answer or resolution to your complaint within the timeframes as outlined by the Financial Ombudsman Service. Should this not be possible due to unforeseen circumstances or lack of information, we will contact you.
  5. 29.5. If your complaint is not resolved to your satisfaction, you may contact the Financial Ombudsman Service at Exchange Tower, London, E14 9SR, United Kingdom. For additional contact details you may visit the website https://www.financial-ombudsman.org.uk/.
  6. 29.6. Disputes between the Parties may be resolved by the Parties through mutual negotiations in the first instance. We aim to settle all disputes with you amicably, promptly and on terms acceptable to Parties. Thus, in case of dispute occurrence, you are encouraged to, first of all, address us directly.
  7. 29.7. In case of failure to settle the dispute amicably or in other extrajudicial methods of dispute resolution, a dispute shall be settled by the courts of the England following the procedure established by law.
  8. 29.8. The law of England and Wales is applicable to these Terms and to relations of the Parties that are not regulated by these Terms, including cases when a dispute between you and us falls within jurisdiction of a court of other state than the United Kingdom. Any dispute under these Terms or otherwise in connection with your Payinter Account shall be brought exclusively in the courts of England and Wales except where prohibited by EU law.

30. Amendments of these Terms and/or Services

1. 1. 30.1. We are entitled to unilaterally amend the Terms, and/or Fees List. We will notify you of any such amendments to Terms and/or Fees List on our Website by publishing the text of the new version of the Terms, and/or Fees List. We shall be entitled to inform you of such amendments to the Terms, and/or Fees List individually by means of a respective notice via email registered with us or via your Payinter Account.
  2. 30.2. Amendments to the Terms shall enter into effect and become binding upon you on 31st day from the date of notification on our Website, unless such amendments to the Terms or law of England and Wales provide for a different term of entering into effect. We shall not be responsible for your losses or other expenses, should you fail to familiarize yourself with amendments to the Terms.
  3. 30.3. Amendments to the Terms shall not apply to the Transactions that have been executed and completed before the date on which amendments to the Terms enter into effect.
  4. 30.4. Should you fail to submit your objections to us before the day on which amendments to the Terms become effective, you shall be deemed to agree to amend legal relationship between you and us as stated in amendments to the Terms. Should you disagree to the amendments, you shall be entitled to terminate your business relationship with us that is affected by the proposed amendments immediately, before the day on which amendments become effective, without contractual fine applied. 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 relationship between you and us.
  5. 30.5. Changes in exchange rates come into force immediately and without any notice to you.
  6. 30.6. Changes in other provisions of Fees List other than stated herein above come into force immediately and without any notice to you.
  7. 30.7. Changes in our correspondent accounts come into force immediately and without any notice to you.
  8. 30.8. In case we add new services and/or add additional features to existing Services or procedures and/or makes changes in any security requirements, the respective amendments to Terms and/or Fees List and/or other documents or procedures (a new edition) come into force on the date set forth by us, and we are not obliged to notify you of such amendments and changes.
  9. 30.9. We may amend and supplement any other documents and procedures (except Terms, and Fees List) incorporated herein by the reference at any time with an immediate effect or with effect from any date set forth unilaterally by us and without the obligation of notification.

31. Third party service providers

1. 1. 31.1. You may instruct payment initiation service providers to initiate Transactions from your Payinter Account. You may also use account information service providers, who aggregate and display in one location the information from your Payinter Account and from other online payment accounts you may have with us or other Payment Service Providers. We reserve the right to deny third party service providers access to your Payinter Account for reasonably justified and duly evidenced reasons relating to fraud or lack of authority, including the unauthorised or fraudulent initiation of a Transaction. If we deny a payment initiation service provider or an account information service provider access to your Payinter Account, we will notify you of our decision and of the reasons for our decision, unless that notification is unlawful or could compromise the security of your Payinter Account.

32. General

1. 1. 32.1. These Terms are personal to you. You must not grant any legal rights to anyone over any of them and you must not transfer your rights and obligations under these Terms to anyone.
  2. 32.2. We may assign or transfer our rights or obligations under these Terms, either in whole or in part, to any third party without your consent.
  3. 32.3. Any delay or failure by us to exercise any right or remedy under these Terms is not to be considered a waiver of that right or remedy and it will not stop us from exercising it at any subsequent time.
  4. 32.4. No one other than you and us has any right to enforce any of the provisions of these Terms. No person other than you and us shall have any rights under these Terms and the provisions of the Contracts (Rights of Third Parties) Act 1999 are expressly excluded.
  5. 32.5. If any provision of these Terms is judged to be invalid, illegal or unenforceable, such provision shall be severed from these Terms and the remainder of the provisions shall so far as possible continue in full force and effect.
  6. 32.6. Terms, Fees List and other documents and procedures incorporated herein by the reference are available on our Website and/or in your Payinter Account; the effective version of those documents can be sent by e-mail to you upon request.
  7. 32.7. You shall be regarded as having acquainted yourself with Terms, Fees List and other documents and procedures incorporated herein by the reference, as well as their amendments on the day when aforementioned documents and procedures (including amendments) have been made available for the first time on our Website and/or your Payinter Account. It shall be considered that a notification by e-mail was made available at the moment when such notification has been sent regardless of the actual receipt of this notice by you.
  8. 32.8. By entering into business relationship with us, you acknowledge that you got acquainted with Terms, Fees List and other documents and procedures incorporated herein by the reference and agree therewith.
  9. 32.9. We bear no responsibility for your losses and expenses in case you have not acquainted yourself with Terms, Fees List and other documents and procedures incorporated herein by the reference, as well as their amendments, changes and new editions.
  10. 32.10. We are not obliged to provide the reason for non-entering into business relations with the Customer and/or provision of a Service.
  11. 32.11. We may not provide services, if the Customer, its representative or Authorised User in our opinion is under alcohol, toxic, psychotropic or any similar impact and/or his/her behaviour is inappropriate.

33. Large Enterprises opt out

1. 33.1. If you are a Large Enterprise then you agree that regulations 40 to 62 of Part 6 and regulations 66(1), 67(3) and (4), 75, 77, 79, 80, 83, 91, 92 and 94 of Part 7 of The Payment Services Regulations 2017 do not apply to these Terms.