This version of the General Service Terms and Conditions is effective as of June 19, 2025.

1. INTRODUCTION

• These General Service Terms and Conditions (hereinafter referred to as – the “General Service Conditions”) along with the Pricelist, Privacy Policy and any Special Service Conditions that apply to the Services, form a legal agreement between Mellifera Kartiera Limited (hereinafter referred to as – the Company) and the Client.
• The purpose of the General Service Conditions is to establish general principles governing the relations between the Company and the Client and to stipulate the rights and obligations of the Parties during the use of the Services provided by the Company.
• The General Service Conditions form an integral part of every legal transaction between the Parties and shall be binding on both Parties. Upon the Client’s approval of the General Service Conditions, the Client shall be deemed to have entered into the Account Agreement with the Company.
• If the General Service Conditions are in conflict with the Contract on Services or Service Conditions, the Contract on Services or Service Conditions applies.
• The General Service Conditions are a document of crucial importance which shall be carefully examined by the Client before the Client decides to confirm it and use the Services provided by the Company. Along with the General Service Conditions, the relations between the Parties are governed by Contracts on Services, Service Conditions, Price List, Privacy Policy, other Company documents, laws and other legal acts of the Republic of Malta, as well as the principles of reasonability, justice and fairness and generally accepted fund transfer practices.
• By confirming the General Service Conditions, the Client expressly acknowledges, understands, and agrees that the Company may provide its Services either (i) directly under its own name or (ii) under the group brand “COLIBRIX ONE.” The brand “COLIBRIX ONE” is not a separate legal entity, but a commercial name used by the Company to market and deliver its Services.
• Any contractual relationship arising from the use of Services offered under the “COLIBRIX ONE” brand shall be solely between the Client and the Company.
• For the avoidance of doubt, the Company does not authorise any unrelated third-party legal entity to enter into agreements with Clients on its behalf. The Client’s acceptance of these General Service Conditions shall constitute a clear and informed confirmation that they have read, understood, and agreed to the terms set out herein.

2. USED TERMS AND DEFINITIONS

Account Agreement	a payment account agreement between the Client and the Company consisting of these General Service Conditions, the Account Agreement Special Service Conditions and Price List. All amendments and annexes, if any, to the Account Agreement constitute an integral part of the Account Agreement.
Agreement (or Contract on Services)	an agreement between the Company and the Client on the provision and use of Services provided by the Company.  The Special Service Conditions of the specific service and these General Service Conditions, together with the client service order and the Price List, form an integral part of each Agreement unless foreseen otherwise by the latter.
App	a mobile software (application) developed by the Company and linked with the Client’s Profile, installed and intended for use on a mobile device belonging solely to the Client.
Authorization	granting of permission for the Client into the System, where the Client identifies itself in the following ways: accessing the Client’s Profile in the Company App, providing the Passcode; accessing the Client’s Profile on the Website, providing the email and Password.
Authorization code	a combination of numbers provided by the Company as an SMS text message sent to the Client’s mobile phone each time the Client performs the Payment Transaction.
Beneficial Owner	a natural person who owns or controls, directly or indirectly, at least 25% of the Client’s capital or voting shares or who exercises control in relevant manner, as well as owner of the funds held in the account, or a natural person in whose interest transactions are made, and whose particular features are defined in legal acts.
Business Day	a day when the Company provides its Services, as set by the Company. The Company can set different business days for different services.
Client	a natural or legal person who has registered in the System by creating a Profile, including a person who has the intention to enter into a business relationship with the Company.
Commission Fee	remuneration set in the Price List, which the Company levies on Services delivered by the Company. Commission Fees may also be included in the Contract on Services or other documents.
Company	Mellifera Kartiera Limited, registration number C107685, with registered office at Villa Malitah, Mediterranean Street, The Village, St. Julians, STJ 1870, Malta, licensed as an electronic money institution with authorised person ID MKL-24227, issued on 20 November 2024 by the Malta Financial Services Authority.
Consent	consent of the Client to use the Services and/or perform a Payment Transaction, which is given in the form of an Authorization code, Passcode or other authorization means allowed by the Company.
Consumer	a natural person entering or having entered into a financial services agreement with the Company for personal, family or household purposes, not related to trade, business, or profession activities.
Contract on Services	an agreement between the Company and the Client on the provision and use of Services provided by the Company.  The Special Service Conditions of the specific service and these General Service Conditions, together with the client service order and the Price List, form an integral part of each Contract on Services unless foreseen otherwise by the latter.
Electronic Money	upon receipt of funds from the Client, the monetary value is credited/transferred to and held on the Payment Account for executing Payment Transactions.
Funds Reservation	the Client’s funds are being made unavailable to the Client based on the reservation from Payee or otherwise when using the Company payment card services.
Foreign country	a country other than a Member State.
Group	entities controlled by Mellifera Holdings Limited, Reg. No.: C104995, with registered office at Villa Malitah, Mediterranean Street, The Village, St. Julian’s, Malta, including without limitation the Company and Mellifera Operations Limited (C105114).
IBAN	(International Bank Account Number) a unique identifier assigned by the payment service provider and provided by the Payer/Payee to identify unambiguously the Payer/Payee, or the payment account thereof used in the Payment Transaction.
KYC	the “Know Your Client” process, which involves identifying and verifying the Client and obtaining information about the Client such as its residential address, contact information, the purpose and nature of the business relationship, planned turnover, ownership structure, economic activity, source of funds, etc.
Member State	a member state of the European Union or a member country of the European Economic Area (EEA).
Party	The Company or the Client. If required, might be used in plural within the context.
Party Passcode	a combination of numbers created by the Client when registering in the Company App, and which is used unambiguously for identification of the Client participating in the Payment Transaction and/or access to the Payment Account. The Passcode can be changed at any time by the initiative of the Client. A fingerprint or face recognition may be used instead of the Passcode if the Client agrees, and its mobile device and Companies software supports such functionality.
Password	a combination of numbers and letters created in the System and provided to the Client initially by the Company when accessing the Services on the Website.
Payee	a natural or legal person indicated in the Payment Order as a recipient of funds of the Payment Order.
Payer	a natural or legal person who holds a payment account and allows a payment order from that account or, where there is no payment account, a person who submits a Payment Order.
Payment Account	a current account opened on the basis of the Special Service Conditions of the Account Agreement.
Payment Order	the Payer’s/Payee’s instruction to the payment service provider to execute the Payment Transaction.
Payment Transaction	depositing, transfer, or withdrawal of funds initiated by or on behalf of the Payer or by the Payee irrespective of the obligations of the Payer and the Payee on which the transaction is based.
Penalty Interest	late interest for non-payment of Commission Fees or other amounts due from the Client to the Company indicated in Price List.
Personal Data	any information relating to an identified or identifiable natural person directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier, etc.
Price List	the list of prices for the Company’s services and transactions, as published on the Website and made available to the Client prior to the commencement of the cooperation.
Privacy Policy	the Company’s document describing the personal data processing, retention and protection matters.
Profile	the result of registration in the System, during which the data of the registered person is saved, a login name is created, and the rights in the System are defined.
Reference Interest Rate	the interest rate, which is used as the basis for calculating the amount of interest and which comes from a publicly available source which can be verified by both Parties (e.g., EURIBOR).
Reference Exchange Rate	a currency exchange rate determined, changed, and announced by the Company according to which the currency is exchanged.
Representative	person having the relevant rights assigned by statute, power of attorney or otherwise to represent the Client.
Service	any financial service rendered by the Company to its Clients. The features of Services shall be specified in the General Service Conditions, Special Service Conditions and other applicable documents.
Special Service Conditions	means the conditions of the provision of a particular Service offered by the Company to the Client and described in these Mellifera Service Terms and Conditions.
System	a software solution provided by the Company through the Website, or the Company App, used for providing Services.
Statement	a summary of transactions effected in the Payment Account over a certain period of time.
Top-up	section in the Client’s Profile for adding funds to the Payment Account using a payment card or by another Payment Transaction.
Transaction	any activity performed by the Client in the Client’s Profile and associated with the Services provided by the Company to the Client (including the Payment Transaction).
Transaction Instrument	any personalized device and/or procedures agreed by Parties by which the System allows to link to the Client’s any personalized device and/or procedures agreed by Parties by which the System allows to link to the Client’s Payment Account and initiate the Transaction (e.g., a payment card, the right to use the Company App, Website or another means offered by the Company).
Sanctions	any economic or financial sanctions, legislation, orders and/or regulations, trade embargoes, prohibitions, restrictive measures, decisions, executive orders or notices from regulators implemented, adapted, imposed, administered or enforced at any time by any Sanctions Authority.
Sanctions Authority	(i) the United Nations, (ii) the European Union; (iii) the United Kingdom, (iv) the United States, (v) Malta and any member state of the European Economic Area (EEA) and/or (vi) the respective government institutions of any of the foregoing, including, without limitation, HM Treasury, the Office of Foreign Assets Control of the US Department of the Treasury (OFAC), the US Department of Commerce, the US Department of State and any other agency of the US government.
User	a representative of the business Client, to whom the business Client grants the right to access the Client’s Profile and perform Payment Transactions and other actions.
Website	the Company’s website at the address: www.kartiera.eu
Withdrawal	Payment Transaction, whereby the Client can receive cash by using the Transaction Instrument accordingly.

3. CLIENT’S IDENTIFICATION AND REGISTRATION OF PROFILE

• Only the Client who has completed the Client’s Profile registration in the System and who has simultaneously become acquainted with the General Service Conditions, Privacy Policy, and relevant Special Service Conditions (that the Client intends to use and applied for) and expressed its consent to comply with them, is entitled to use corresponding Services offered by the Company.
• Prior to registration in the System and entering into the Agreement, the Client (natural person) or the Representative of the business Client shall confirm it complies and will always comply with the following criteria during the validity of the Agreement:
  • he or she is at least 18 years old;
  • pursuant to a judgment that has taken effect, he or she does not have limited legal capacity due to disorders of mental nature;
  • at the time of applying for the Client’s Profile and at the moment of entering into the Agreement, he or she is fully legally capacitated and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances;
  • the Client or its Beneficial Owner, if the Client is a legal entity, is the ultimate beneficiary of the funds involved in the provision of Services and these funds are of legal origin and are not acquired as the result of a criminal offence, either directly or indirectly, or related to any criminal activity or an attempt of such activities.
• The Client or Client’s Representative must provide correct data when applying for Services and, if there is a need for changing or adding data, the Client or Client’s Representative must submit correct and actual data only. The Client shall bear any losses that may occur due to the submission of forged, invalid, or misleading data and/or documents. The Client is entitled to register only one Profile.
• For the Company to start the provision of Service, the Client shall choose the appropriate Service which the Client intends to receive and additionally to General Service Conditions shall confirm corresponding provisions of the Special Service Conditions that constitutes the Contract on Services. The Client’s and its Representative’s identification procedure is performed according to the provisions of these General Service Conditions, Special Service Conditions or requirements established in the System.
• Access to and use of the Client’s Profile is possible when the Company has appropriately identified the Client and its Representatives (if any) by means of identification determined by the Company. The Client shall be entitled to change certain data used for access to the Profile and Services in compliance with the procedures foreseen in the System.
• The Parties agree that the Client can confirm documents (e.g., General Service Conditions, Special Service Conditions, consents, requests, questionnaires, personal identification documents etc.) if the Client is properly logged in to the System, i.e., the Company may not additionally request an Authorization code, Passcode or other authorization means for the approval of the above documents in the System, if the Client has performed the Authorization when connecting to the System.
• The Client, who registered in the System via the Website, receives a confirmation on registration of the Profile via email address. If the Client has used the Company App for registration of the Profile, the Client will see the confirmation in the Client’s Profile.
• The Company is entitled to refuse registration of the Profile in the System without providing a reason for refusal.
• The registration may be refused and/or the Profile may be blocked, suspicious transactions may be invalidated and the relevant information may be transmitted to law enforcement institutions, if necessary.
• The Company carries out the identification of the Client by obtaining information and proof of identification on the Client, Beneficial Owners (where applicable) and the Representatives (where applicable):
  • The following identification procedures shall be carried out in regard to natural persons:
    • the Client must submit the information and documents requested by the Company (name, surname, personal code, date of birth, phone number, address, email, KYC information and other necessary information);
    • an image of the Client’s face and the identity document displayed by the Client are recorded.
  • The following identification procedures shall be carried out in regard to legal persons:
    • the Client must submit the information and documents requested by the Company (company name, legal form, registration number, Representative’s name, surname, representation grounds, phone number, address, email, KYC information and other necessary information);
    • at the request of the Company, an online meeting shall be arranged in order to verify such identification documents as registration certificate, articles of association, documents certifying the right of signature, Representative’s valid identity document, actual printout from the business register certifying the right of signature and good standing of the company, the power of attorney and/or other documents/information required.
• The power of attorney, if any presented, and other legal documents shall be notarized and/or apostilled and/or legalized if required by the Maltese law. The power of attorney submitted to the Company shall be considered effective until revoked by the Client and by notifying the Company in writing.
• The Company is firmly committed to meeting its obligations in combating money laundering, financing of terrorism, financial fraud and other legal obligations. The Company maintains and follows a strict ‘Know Your Customer (KYC)’ policy and applies additional validation checks as may be applicable from time to time. Certain activities, Transactions, monetary limits, and volumes may only be allowed once the Client has passed the KYC checks by providing the Company with the relevant information and documents. The Company will also take steps to validate the information that the Client provided. This may include comparing the information and documents that the Client provides to use with that available from commercially available resources and service providers. Furthermore, the Company may ask the Client, from time to time, to update KYC information, confirm elements or all of the information or provide additional information. The Company may also ask for documentary evidence to validate the information that the Client has provided.
• In order to identify the Client adequately, the Company may, at its sole discretion, at any time request the Client to submit documents or information confirming the Client’s identity and unilaterally determine any additional requirements for the Client’s and/or Beneficial Owner’s (if applicable) identification, origin of funds and other relevant requirements. The Company has the right to demand additional information and/or documents related to the Client or transactions executed by the Client and request the Client to fill in and periodically update the Client’s KYC questionnaire.
• Acting in the Clients’ interests, the Company may refuse to accept from natural persons the personal identification documents which, in the opinion of the Company, can be easily forged or documents which do not contain sufficient details for identification of the person.
• The Company has the right to request copies of the documents certified by a notary and/or translated into English or other language acceptable to the Company. All documents and information shall be prepared and provided at the expense of the Client. If the Client does not provide additional information and/or documents within a reasonable time set by the Company, the Company has the right to suspend the provision of all or a part of the Services to the Client.

4. ESTABLISHING BUSINESS RELATIONSHIP

• In observance of the generally recognised principle of the freedom of contract, the Company shall have the right to choose, at its sole discretion, the circle of Clients with whom to enter into and keep a business relationship – offer Services and enter into Contracts on Services, excluding the cases when applicable legal acts establish otherwise.
• Prior to the conclusion or refusal to conclude the Contract on Services, the Company carries out the relevant assessment of all available information and circumstances.
• The Company reserves the right not to offer any Services, enter into Contract on Services and/or suspend Transactions and/or the provision of other Services and/or terminate an existing Agreement if the Client, its Representative, Beneficial Owner or any related person:
  • has deliberately furnished the Company with any false or insufficient information (including any documents) or conceals, fails, or refuses to furnish the information required by the Company or submits documents the veracity or authenticity of which is doubtful, or the submitted documents and/or information are not in conformity with requirements established by legal acts and/or the Company;
  • has not furnished, upon the Company’s request, relevant and sufficient information (including any documents) necessary for due identification of the natural person or legal entity or for determination of representation rights, as well as if the submitted documents do not satisfy the requirements laid down by the Company and/or legislation;
  • has failed to discharge its obligations to the Company or Group companies;
  • has caused or may cause any direct/indirect loss or injury to the interests of the Company or Group companies through any act or omission, direct or indirect;
  • has not furnished, upon the Company’s request, relevant and sufficient information (including any documents) about the origin of funds, beneficial owners, the purpose of the transaction or circumstances, and suspicion exists about the natural person’s or legal entity’s potential involvement in organized crime and/or fraudulent activities and/or money laundering and/or terrorist financing and/or other illegal activities;
  • is active in an area which has an inherent high risk of money laundering or terrorist financing or performs certain operations without being duly registered or licensed to do so;
  • according to the information available to the Company, has such a reputation that may have a direct or indirect impact on the Services or may cause unfavourable implications for the Company or Group companies;
  • fails to substantiate their professional, economic, social or personal links with Malta, or do not carry out activities in Malta;
  • was prosecuted or convicted for offences or misdemeanours and/or according to the information available to the Company, may be related or were related in the past with criminal organisations;
  • is related or was related in the past with activities prohibited by international or national legal acts (e.g., trafficking in people, trafficking in human organs, exploitation of children, smuggling, illicit trade in weapons, ammunition or explosives, illegal trade in narcotic or psychotropic substances, prostitution, management of brothels, etc.);
  • holds or has held significant positions in a country against which the Sanctions and/or restrictions are imposed and/or are persons who are subject to Sanctions for any reasons or who permanently reside in the country which is subject to Sanctions or have their registered office and/or the main business territory in such a country;
  • has a registered address in a target territory within the meaning of the Law of the Republic of Malta on Corporate Income Tax;
  • uses Payment Account for illegal nature transit purposes;
  • is a person whose accounts are used by third parties without legal grounds, or, in the opinion of the Company, the funds held in or credited to such accounts do not belong to the Client.
• Other facts not mentioned in the clauses above may also be considered by the Company as important reasons if they allow assuming that the conclusion of the Contract on Service and/or provision of a Service and/or continuation of a business relationship would infringe the legal acts, legitimate interests of the Company, its clients, or the public.
• Upon the Client’s approval of the General Service Conditions, relevant Special Service Conditions and the Privacy Policy by ticking the appropriate boxes in the Company App or on the Website, the Client shall be deemed to have entered into the Agreement with the Company. The Agreement is entered into for an indefinite period of time. It is considered that the place of signing the Agreement is Malta. The Client can find out the information regarding Services and Agreement in the Client’s Profile (e.g., the IBAN, list of Transactions, etc.).
• By entering into the Agreement, the Client also accepts the Price List, which is available on the Website.

5. THE CLIENT’S AND USER’S RELATIONS (THIS SECTION 5 APPLIES TO BUSINESS CLIENTS)

• The Client may specify in the Client’s Profile an unlimited number of Users who will manage the Client’s Profile and perform transactions associated with the Serviced provided to the Client.
• The Client shall specify in the Client’s Profile what rights to perform Transactions are granted, what limits are set for the User and which Payment Accounts the User will be able to manage (including the disposal of the funds contained therein). The Client is responsible for ensuring that the Users registered in the Client’s Profile have the appropriate authorizations (e.g., power of attorney) and have the right to act on behalf of the Client.
• A change in the relationship between the Client and the User (e.g., termination of employment agreement, etc.) does not automatically affect the validity of the Account Agreement, i.e., until the Client revokes the User’s rights in the Client’s Profile, the User may continue to perform Transactions on behalf of the Client.
• The General Service Conditions are binding on both the Client and its Users. The Client must acquaint the Users with the General Service Conditions. If the User violates the General Service Conditions, the Client will be deemed to have violated the General Service Conditions. The Client may not rely on the fact that the General Service Conditions have been violated by the User and not by the Client, or that the User has not been acquainted with the General Service Conditions.
• In addition to Transactions performed on behalf of the Client, the Users may also view information on other agreements concluded on behalf of the Client and the Services provided to the Client, displayed in the Client’s Profile.
• The Client may check the history of its Transactions by logging in to the Profile and requesting to provide a Statement. There is also information about all applied Commission Fees deducted during a selected period of time.
• The Client shall ensure that all funds used for Transactions are of legal origin and if the Client is not informed of the origin of funds or if any doubt arises to the Client about the legality thereof, the Client shall promptly notify the Company thereof.
• The Client is prohibited from using Services for conducting any unlawful activities, including for money laundering or terrorist financing-related operations, as well as for any activities aimed at circumventing the Sanctions.

6. SECURITY AND CORRECTIVE MEASURES

• Obligations of the Client related to Transaction Instruments and Authorization means:
  • The Client authorised to use a Transaction Instrument must:
    • use the Transaction Instrument in observance of conditions regulating the issuance and use of the Transaction Instrument as specified in the General Service Conditions and/or Contract on Services and/or Special Service Conditions;
    • having found out that the Transaction Instrument has been stolen or lost in any other matter, suspecting or obtaining information about illegal acquisition of the Transaction Instrument or unauthorised use thereof as well as about the facts or suspicions that personalised security data of the Transaction Instrument (including the means of identification) have become known or might be used by third parties, via email, phone call or using communications options in Profile promptly notify the Company or any other entity specified thereby in observance of conditions regulating the issuance and use of the Transaction Instrument.
• Having received the Transaction Instrument, the Client, must promptly take all actions (including those specified in General Service Conditions, Contract on Services and Service Conditions) to safeguard the personalised security data of the received Transaction Instrument.
• The Client undertakes to protect and not to disclose any Passwords, Authorization code or Passcode created by the Client or provided to the Client under the Contract on Service or other personalized security means to third parties and not to allow other persons to use Services under the name of the Client. If the Client has not complied with this obligation and/or could but has not prevented it and/or performed such actions on purpose or due to its own negligence, the Client fully assumes the losses and undertakes to reimburse the losses of other persons incurred due to the indicated actions of the Client or its failure to act.
• In the event of loss of Password, Authorization code or Passcode by the Client or disclosure of them, or in case a real threat has occurred or may occur to the Payment Account, the Client undertakes to change the Passwords and Passcode immediately or, if the Client does not have a possibility to do that, notify the Company thereof immediately (not later than within one Business Day) via email, phone call or using communications options in Profile. The Company shall not be liable for consequences that have occurred due to the notification failure.
• After the Company receives the notification from the Client as indicated above, the Company may immediately suspend access to the Payment Account, block the Transaction Instrument and provision of the Company Services until a new Password/Passcode/ Authorization code is provided/created for the Client.
• The Company draws the attention of the Client to the fact that the email linked to the Client’s Profile and other instruments (e.g. mobile device, mobile phone number), which are linked at the Client’s choice to its Profile, are used as instruments for communication or identification of the Client, therefore these means and logins to them shall be strictly protected by the Client. The Client is completely responsible for safety of its email passwords and all the other means it uses, such as Password, Passcode, payment card CSV and other private credentials. The mentioned data is a secret information, and the Client is responsible for its disclosure and for all operations performed after this data is used by the Client for a relevant Payment Account or another Transaction Instrument is entered. The Company recommends memorizing passwords and not to write them down or enter in any instruments where they may be seen by other persons.
• The Company points out that the Company App is directly linked to a specific phone number. This means that if the Client loses the phone number used during onboarding, the Client will lose the opportunity to access the Payment Account through the Company App.
• Blocking of the Account and Payments Instruments:
  • The Company reserves the right to suspend Payment Transactions, to block the Payment Account and/or the Transaction Instrument or to suspend any other Service at any time:
    • for objectively justified reasons relating to the security of funds available in the Payment Account and/or security of the Transaction Instrument, suspected unauthorised or fraudulent use of funds available in the Payment Account and/or the Transaction Instrument, or to the increased risk that the Client might be unable to fulfil his/her payment obligation to the Company;
    • where the Company finds out that the Transaction Instrument has been stolen or lost in any other manner, suspects or obtains information about illegal acquisition of the Transaction Instrument or unauthorised use thereof as well as about the facts or suspicions that personalised security data of the Transaction Instrument (including means of Authorization) have become known or might be used by third parties, or where the Company has reasonable suspicions that funds available in the Payment Account and/or the Transaction Instrument might be illegally used by third parties or that the Payment Account and/or the Transaction Instrument might be or has been used for illegal activities;
    • if the Client is in breach of the General Service Conditions and/or Account Agreement and/or another Contract on Service;
    • in the cases provided for by clause 4.3 of the General Service Conditions, Service Conditions, Contract on Service or legal acts.
• In the cases provided above, the Company shall notify the Client in the manner specified in the General Service Conditions or Contract on Service or in any other manner acceptable to the Company (e.g., by phone, e-mail, the Company App) about the blocking of the Payment Account and/or Transaction Instrument and about the reasons for such blocking, doing its best to notify the Client before the blocking and no later than immediately after the blocking, except in the cases when the provision of such information would impair the safeguards or is prohibited by legal acts.
• Access to Payment Account shall be disabled on the Client’s initiative if the Client gives a relevant instruction to the Company in writing or in other manner agreed between the Parties in Contract on Services.
• The Company shall cancel the blocking of the Payment Account and/or the Transaction Instrument when the reasons for the blocking cease to exist or when the blocking has been initiated by the Client -if the Company receives the respective written request of the Client (unless General Service Conditions or Contract on Service establish otherwise). The Company shall have the right to replace the blocked Transaction Instrument by a new one.
• The Company shall not be held liable for the Client‘s losses incurred as a result of blocking of the Payment Account and/or the Transaction Instrument or suspending the Service, where such blocking or suspending has been performed in observance of the procedure established in the General Service Conditions, Service Conditions, Contract on Service or legal acts and according to the terms specified in the aforementioned documents.
• The Company may deny an account information service provider or a payment initiation service provider access to a Payment Account for objectively justified and duly evidenced reasons relating to unauthorised or fraudulent access to the Payment Account by that account information service provider or that payment initiation service provider, including the unauthorised or fraudulent initiation of a Payment Transaction. In such cases, the Company shall inform the Client that access to the Payment Account is denied and the reasons, therefore. The Company shall allow access to the Payment Account once the reasons referred to in this for denying the access of the account information service provider and/or of the payment initiation service provider to the Payment Account no longer exists.
• Notifications of the Client regarding unauthorised or incorrectly executed Payment Transactions
• The Client shall have a duty to see and check the Statements at least once a month. A failure to inspect the Payment Account balance shall not release the Client from the performance of its duties.
• The Client must notify the Company in writing of unauthorised or incorrectly executed Payment Transactions as well as of any other mistakes, inconsistencies, or irregularities in the Statement. The Notification must be submitted immediately (within 5 (five) Business Days of finding out about the circumstances mentioned in this clause) and in any case no later than within 60 (sixty) calendar days of the day on which the Company, in the opinion of the Client, executed an unauthorised Payment Transaction or incorrectly executed a Payment Transaction.
• The Client, who is a Consumer, or a natural person engaged in economic–commercial or professional activities, must promptly notify the Company in writing of unauthorised or incorrectly executed Payment Transactions (within the time limit established in clause 6.3.2) and in any case no later than within 13 (thirteen) months of the day of debiting the funds from the Payment Account. These time limits shall not apply in those cases when the Company has not notified the Client of such unauthorised or incorrectly executed Payment Transaction or has failed to provide conditions for the familiarisation with it in observance of the procedure established in the General Service Conditions or Contract on Service. The Client, who is not a Consumer, or a natural person engaged in economic–commercial or professional activities, must notify the Company in writing of unauthorised or incorrectly executed Payment Transactions within the time limit established in clause 6.3.2.
• Where the Client fails to notify the Company of unauthorised or incorrectly executed Payment Transactions within the time limit established above, it shall be considered that the Client has unconditionally confirmed Payment Transactions executed in the Payment Account.
• Liability of the Client for unauthorised use of the Transaction Instrument and liability of the Company for unauthorised Payment Transactions
• If the Client denies authorizing the Payment Transaction which has been authorized or states that the Payment Transaction has been executed improperly, the Company is obliged to prove that the authenticity of the Payment Transaction has been confirmed, it has been registered properly and recorded into accounts, and it has not been affected by any technical or any other glitches.
• Where the Client, who is not a Consumer, denies that it has authorised the executed Payment Transaction, the use of the Transaction Instrument registered by the Company shall constitute sufficient proof that the Client has authorised the Payment Transaction or acted fraudulently or with intent, or by gross negligence has failed to fulfil one or more obligations established under clauses 6.1.1 – 6.1.2 of the General Service Conditions.
• Where the Client, who is a Consumer, denies that he/she has authorised the executed Payment Transaction, the Transaction Instrument’s use registered by the Company shall not necessarily be sufficient proof that the Client has authorised the Payment Transaction or has acted unfairly or deliberately, or has failed to fulfil one or several duties specified in clauses 6.1.1–6.1.2 of the General Service Conditions.
• Upon receipt of a respective notification of the Client (Payer) within the time limits specified in General Service Conditions or having established that the Payment Transaction has not been authorised by the Client, the Company shall, without undue delay, but no later than by the end of the next Business Day, return to the Client the amount of such unauthorised Payment Transaction and restore the balance of the Payment Account from which the amount was debited which would have existed if such unauthorised Payment Transaction would not have been executed, unless the Company has reasonable grounds to suspect fraud. The Company shall also ensure that the Payer does not incur losses because of interest payable to or receivable from the Company.
• The Customer (Payer), who is a Consumer, shall bear the losses relating to unauthorised Payment Transactions up to EUR 50 (fifty euro), where such losses are incurred as a result of:
  • the use of a lost or stolen Transaction Instrument;
  • the misappropriation of the Transaction Instrument. If the Client is not a Consumer and/or the Payment Transaction is executed in the currency of a Member State to/from a Foreign Country or in the currency of a Foreign Country, the Client bears all losses.
• The Client (Payer) shall bear all losses relating to unauthorised Payment Transactions if such losses were incurred because of the Client’s failure to fulfil one or several duties specified in clauses 6.1.1– 6.1.2 of the General Service Conditions due to fraudulent or deliberate acts or gross negligence.
• Where the Company does not create conditions for notifying, at any time, of the lost, stolen or misappropriated Transaction Instrument, the Company shall bear the losses resulting from unauthorised use of the Transaction Instrument, unless the Client has acted unfairly.
• Where the Payer lodges a claim with the Company concerning the Payment Transaction not authorised by Payer and executed by the Company, the Payee of the funds of which is the Client, such Client (Payee), as the recipient of the funds of the aforementioned Payment Transaction without valid grounds, must immediately repay to the Company the amount of the aforementioned Payment Transaction transferred to Payee’s Account and agrees with debiting of the funds of such Payment Transaction by the Company from Payee’s Payment Account.
• Where the Client (Payer) lodges a claim with the Company concerning the Payment Transaction not authorised by Client and executed by the Company, and the Company repays to the Client the funds of such Payment Transaction, but later it is established that the Payment Transaction was authorised properly or there are other grounds set out by legal acts for rejecting the Client’s claim (e.g., fraud), such Client, as the recipient of the funds without valid grounds must immediately repay such funds to the Company and agrees with debiting of the funds of such Payment Transaction by the Company from Client’s Payment Account.

7. COMMISSION FEES, INTEREST AND EXCHANGE RATE

• Services provided by the Company to the Client are paid services, for which payment is set as a Commission Fee in the form of fees, commission, interest etc.
• The amount and procedure of payment for Services rendered to the Client are determined by the Price List in force at the time of rendering the Services, except where the amount and procedure of payment of such Services are stipulated in the Contract on Services.
• The Client confirms having carefully studied the prices and terms of payment services and other Company Services that are applied and relevant to the Client.
• The Company has the right to deduct the Commission Fees for rendered Services from any Payment Account opened by the Client with the Company.
• The Company Commission Fees are deducted in default currency of the Payment Account, unless otherwise indicated in the Price List and/or Contract on Services.
• The Client undertakes to ensure a sufficient amount of money in the Payment Account in order to allow to the Company to deduct it as the Commission Fee according to the Price List. If the amount of funds in the indicated currency is insufficient to pay the Commission fee, the Company has the right, but not the obligation, to exchange money on the Payment Account in another currency into a necessary currency by applying the Reference Exchange Rate. If there is money in several different currencies, the Company may choose the currency for exchange at its discretion.
• The Client, having failed to pay the Company the remuneration for provided Services, at the demand of the Company must pay Penalty Interest for each day overdue.
• A revised Reference Exchange Rate and a revised Reference Interest Rate shall be applied by the Company immediately without a separate warning. The Client can obtain information about changes in Website, unless the Company and the Client have agreed otherwise.

8. PROHIBITED ACTIVITIES

• The Client using the Company Services is prohibited from:
  • not complying with the General Service Conditions, Contracts on Services, and legal acts, including but not limited to, anti-money laundering and counter-terrorist financing legal acts;
  • violating the rights of the Company and third parties to trademarks, copyrights, commercial secrets and other intellectual property rights;
  • providing false, misleading or incorrect information to the Company; refusing to provide information or undertake other actions that are reasonably requested by the Company;
  • providing to third parties false, misleading or incorrect information about the Company and cooperation with the Company;
  • executing or receiving transfers of illegally acquired funds, if the Client is aware of or should be aware of it;
  • using Services of the Company in a way which causes losses, liability or other negative legal consequences or damage to the business reputation of the Company or third parties;
  • using the Company Services from countries that are not acceptable to the Company;
  • spreading computer viruses and undertaking other actions that could cause System malfunctions, information damage or destruction and other damage to the System, equipment or information of the Company;
  • undertaking any other deliberate actions which could disturb the provision of the Company Services to the Client or the proper functioning of the System;
  • organizing illegal gambling, illegal trading of stocks, indices, raw materials, currency (e.g. Forex) options, exchange-traded funds (ETF); providing of trade, investment or other services on currency exchanges, Forex markets and other electronic currency trading systems; engaging in illegal trade of tobacco products, alcohol, prescription drugs, steroids, weapons, narcotic substances and their attributes, pornographic production, unlicensed lottery, illegal software and other articles or products prohibited by the law;
  • without the prior written consent of the Company providing financial services, organizing legal gambling, lotteries, other specially licensed activities or activities requiring a permit. In case the Client intends to provide mentioned services using the Payment Account, the Client must inform the Company in advance and shall have a valid license, issued by a member state of the European Union or a third country that has imposed equivalent or substantially similar requirements and is monitored by the competent authorities with respect to compliance with these requirements;
  • registering a Payment Account by fictitious or someone else’s name without having the power of attorney or registering a Payment Account using services of anonymous phone numbers or e-mail addresses provided by other individuals or websites;
  • providing services that are prohibited by the law or contradict public order and moral principles;
  • disclosing Authorization codes, Password, Passcode and other authentication means to third parties and allowing other persons to use Services under the name of the Client.

9. COMMUNICATION BETWEEN THE CLIENT AND THE COMPANY

• All notifications between the Parties must be of simple written form (i.e., prepared in the form of a respective document), excluding the cases established in legal acts, Contracts on Services or other documents submitted to the Company (applications, questionnaires, etc.), when the notifications may be communicated verbally or must be of a notarial form. Documents communicated using the telecommunications terminal equipment or electronic means of communication (internet, System, etc.) shall be equated to the documents in written form.
• The Company shall deliver notifications to the Client personally or by way of publishing:
  • notifications of the Company delivered personally shall be handed in or communicated directly to the Client and may be provided to the Customer via the Client’s Profile, sent by post, email, communicated by phone and other electronic means of communication. If the notification is communicated verbally, the Company shall have the right to record the conversation and keep its record in accordance with the procedure set out by legal acts;
  • notifications of the Company communicated by way of publishing shall be made available on the Website of the Company. Such notifications may also be published in advertisements in press or other media.
• Notifications communicated by the Parties shall be deemed to be received when after sending the notification the time period which is normally required for sending the information by respective means of communication expires, including the following cases when the notification is considered to be received:
  • in the case of the notification which is communicated verbally (including by phone) – at the moment of its verbal communication;
  • in the case of the notification which is handed in personally – on the day of handing it in;
  • in the case of the notification which is sent by post – within 5 (five) calendar days of the day of its sending, and in the case of the notification which is sent or received not from or not in the Republic of Malta – within 14 (fourteen) calendar days of the day of its sending;
  • in the case of the notification which is sent via Client’s Profile or sent by e-mail, fax, SMS, other electronic means of communication – on the day of its sending, if it was sent during the Company  business hours, or on the next Business Day, if it was sent after the Company business hours;
  • notification published by the Company – on the day of its publishing;
  • where the recipient acknowledges the receipt of the notification earlier than specified above – on such day of acknowledgement by the recipient.
• The Client undertakes to check the indicated email, phone, post-box, Profile and other instruments for receipt of notifications, as well as Website, on a regular basis, in order to notice notifications of amendments to the General Service Conditions, Service Conditions, Price List, Account Agreement or other Contract on Services in a timely manner.
• The Client must provide the Company with the requested information/documents within the specified term or inform the Company about the reasons and circumstances due to which it is not possible to provide the information within the specified term.
• Upon receipt of the notification from the Company, the Client must immediately verify the correctness and accuracy of the information specified in the notification and having identified any inconsistencies, irregularities or having found other shortcomings – promptly inform the Company.
• The main communication language between the Company and Clients is English, unless agreed otherwise by the Company and the Client.
• Usually General Service Conditions, Special Service Conditions, Contracts on Services, Price List or any other documents with Clients are concluded in English. By entering into Contract on Services, the Client confirms understanding English and agrees to communicate with the Company in English.
• The Client undertakes to provide in the Profile and, in case of amendments, immediately update the contact data (phone number, email address and post address), which the Company could use to contact the Client or its Representatives. In case the Client does not update the contact data in the Profile, all consequences related on the failure of the Company to submit notifications to the Client shall fall on the Client.
• In order to protect the Client’s funds from possible illegal actions of third parties, the Client undertakes to immediately inform the Company in writing about the theft or loss of its personal identity document.
• The Client can receive a consultation regarding all issues related to the Service, System and execution of the Contract on Service by sending its question from the email address registered in the System, calling to the Client support or filling in a request in the Profile. The Company contact details are provided on the Website and Profile.
• The Company may change the solution for technical integration of Services without constraint and at any time. Changes required by the Client shall be made at the Client’s expense.
• The Parties shall immediately inform each other about any circumstances significant for execution of the Contract on Service. The Client shall submit documents confirming such circumstances (e.g., changes in name, surname, signature, address, phone number, other contact data, personal document or persons who have the right to manage funds on the Payment Account, initiation of bankruptcy proceedings against the Client, etc.), whether this information has been already transferred to public registers or not.
• The Client shall have the right to get familiarised with the applicable version of the General Service Conditions, Commission Fees, Contracts on Services at any time by contacting the Company. The aforementioned documents may also be posted on the Website and if they are not posted there and if a separate request of the Client is received, they must be furnished to the Client in written form or using any other durable medium acceptable to the Company, irregularities or having found other shortcomings – promptly inform the Company.

10. AMENDMENTS OF TERMS AND CONDITIONS AND TERMINATION OF CONTRACT ON SERVICES

• Unless agreed otherwise by the Company and the Client, the Company reserves the right to amend these General Service Conditions, Special Service Conditions, Price List, and other Contracts on Services unilaterally at its sole discretion.
• The Company shall notify the Client in writing about the changes (e.g., increase of the Commission Fee) which worsen the Client’s situation or using any other durable medium individually and/or by way of publishing no later than 60 (sixty) calendar days (if the Client is a legal person – 30 (thirty) calendar days) in advance of the enforcement of such changes, excluding the cases when laws of the Republic of Malta and/or the Contract on Services establish otherwise. The Company shall have the right to notify the Client of the changes which do not worsen the Client’s situation disregarding the time limits established above in this clause. The establishment of the Commission Fee for new Services shall not be treated as the worsening the Client’s situation.
• The Client will be deemed to have accepted changes in the General Service Conditions as well as Special Service Conditions, Price List or Contract on Services unless the Client notifies in written form the Company that the Client does not accept them before the date of their proposed date of entry into force. In case the Client does not agree to amendments, the Client has the right to refuse from the Company Service(s) and terminate the relevant Contract on Services, notifying the Company thereof 14 (fourteen) days in advance and upon fulfilment of all Client’s obligations arising from the Contract on Services.
• The Company may terminate the Contract on Services by notifying the Client about the termination in writing or using any other durable medium individually and/or by way of publishing no later than 60 (sixty) calendar days (if the Client is a legal person – 30 (thirty) calendar days) in advance, excluding the cases when laws of the Republic of Malta and/ or the relevant Contract on Services establish otherwise.
• In case of suspicion of possible money laundering, terrorist financing, fraud or other criminal activity or if the Client violates the General Service Conditions, Special Service Conditions or Contract on Services, the Company has the right to terminate the Account Agreement or other Contract on Services immediately, without applying the above-mentioned notification periods. In this case, the Company reserves the right not to indicate the reasons for termination the Account Agreement or other Contract on Services.
• Termination of the Contract on Services shall not exempt the Client from the due discharge of all obligations to the Company arising before the day of its termination.

11. CONFIDENTIALITY AND DATA PROTECTION

• The Parties undertake to keep technical and commercial information of each other secret, except for publicly available information, which has become known to them while executing the Contract on Services, and not transfer it to third parties without a written consent from the other Party or its legal Representatives.
• The Client agrees that the Company shall have the right to disclose the information received from the Client and other sources of information and all other information pertaining to the relationships between the Client and the Company in observance of below specified requirements and to the below specified persons:
  • a person and organization (such as a payment intermediary, correspondent bank, international card organization, ATM administrator, insurance provider, notary, surety and guarantee provider, pledgee, operator of trading venue and settlement system, translation, printing, communication and postal service provider, etc.) involved in the performance of the Contract on Services;
  • a payment service provider, including to SWIFT, involved in the fulfilment of financial transactions (payments, securities transactions, etc.);
  • a state registrar (such as the commercial register, population register, credit register, etc.) if it is necessary to verify the accuracy of relevant data and documents presented to the Company and ensure their timeliness, or a defaults registrar if the Client has failed to perform any financial obligation towards the Company duly;
  • the person providing services to the Company (such as an IT service provider, customer survey provider, legal adviser, etc.);
  • any other Group entity, in order to: a) assess the proficiency of the Client by using the collected personal and financial information; b) fulfil the requirements necessary for managing and mitigating risks, including for the application of the due diligence measures provided for in the money laundering and terrorist financing preventive measures; c) organise statistical researches and analyses of market shares and other financial indicators of customer groups, products and services; d) meet the prudential norms, including capital and liquidity requirements, applicable to the Company and Group, implementation of the principle of responsible lending etc.; e) communicate information about the Client related to the agreements concluded with the Company or any other Group entity; f) develop and implement the Company information systems;
  • local or foreign institutions in response to their inquiries, the purpose of which is to collect information about the Client in order to assess the Client’s reliability and prevent terrorist financing and money laundering;
  • a new creditor in the event that the right of claim is assigned to the new creditor or to the third person related to the assumption of the Contract on Services.
• The Company shall not be bound by the conditions set out in previous clause and may disclose the information received from the Client and other sources of information as well as all other information pertaining to relationships between the Client and the Company to third parties without a separate approval or request from the Client, where such obligation or right of the Company is provided for in the General Service Conditions, Contract on Services and/or legal acts.
• The Company is entitled to process the data of the Client, including collect, store, register, transfer, transmit, etc. and transfer and receive the Client’s data and other information from third parties, databases, accounting systems, and transfer data to other Group companies or the data processors. Main principles of protection of the Client’s (natural person’s) Personal Data are regulated by the Privacy Policy, which the Client may read on the Website and undertakes to observe.
• After downloading the Company app, the Client may be requested to provide the access to Client’s phone contacts’ book. By accepting contact list sharing with the Company, the Client agrees:
  • to became visible to other the Company Clients who saved him/her as a contact in their phone book;
  • to allow the Company to disclose to other Clients that the Client has an account with the Company and, in case of Payment Order, – Client’s Payment Account number and other details;
  • to allow the Company to perform Payment Transactions to chosen by Client phone contacts (Clients) without entering their account numbers.
• The Client agrees that her/his/it account number and Personal Data required for the Payment Transaction may be detected and displayed to another the Company Client who intends to make a payment to the Client if another the Company Client enters a confirmed identifier of the Client (e.g., phone number, name, surname, account number, etc.).
• The Client grants the Company the right to undertake necessary measures, including but not limited to, submitting requests to third parties directly or via third parties in order to determine the identity of the Client and accuracy of other data submitted by the Client.
• The Company has the right to record phone conversations with the Client. The Parties agree that phone conversations and messages transferred via mail, email and other telecommunication instruments may be deemed evidence when settling disputes between the Parties. The Company stores records of phone conversations and other correspondence for its own needs and does not provide them to the Client, except cases provided by law.

12. SETTLEMENT OF DISPUTES BETWEEN THE CLIENT AND THE COMPANY

• The Company aims to settle all disputes with the Client amicably, promptly and on terms acceptable to both Parties, thus, in case of a dispute, Clients are encouraged to firstly address the Company directly. Disputes are solved by negotiation.
• The Client, believing that the Company has violated the Client’s rights and/or interests protected by the laws related to the provision of Services and/or concluded Service on Contract, might refer to the Company by submitting a written complaint.
• The Client may submit any claim or complaint regarding Services of the Company by sending a notification via email, post, or Profile.
• The complaint shall contain a reference to circumstances and documents that served as a basis for the complaint. If the Client justifies his/her/its complaint with documents which the Company does not possess, the Client shall also submit such documents or their copies.
• The Company undertakes to analyse the claim or complaint of the Client and inform the Client about the decision within 15 (fifteen) Business Days from the day of receipt, except where the legislation or other binding regulations related to the provision of Services of the Company (e.g., rules of international payment card organizations) provide for a different period of time. In exceptional situations, if the response cannot be provided within 15 (fifteen) Business Days for reasons beyond the control of the Company the reply term may not extended to 35 (thirty-five) Business Days.
• If the Company is not able to provide an answer to the Client’s complaint within the time period specified above, the Company shall inform the Client about the reasons and indicate the time period in which the answer will be provided.
• Analysis of the Client’s complaints by the Company is free of charge.
• If the Client is not satisfied with the decision made by the Company, the Client has the right to use other legal remedies to protect his/her/its rights. For instance, the Client who is a Consumer has the right      within 1 (one) year of the day of applying to the Company, to submit a request to the out-of-court disputes settlement institution – Office of the Arbiter for Financial Services https://financialarbiter.org.mt/).
• In case of failure to settle a dispute amicably or by other extrajudicial methods of dispute resolution, the dispute shall be settled by the courts following the procedure established by the laws of the Republic of Malta. A court shall be chosen according to the location of the Company office. If the Client is a Consumer, he/she has the right to appeal to consumer dispute settlement institutions under the procedure set by the legislation of the Republic of Malta.
• The law of the Republic of Maltais applicable to pre-contractual relations, these General Service Conditions, Service Conditions, Price List, Account Agreements, and other Contracts on Services.

13. FORCE MAJEURE

• Neither Party will be liable for any delay or non-performance of its obligations under this Agreement to the extent that such delay or non-performance is a result of any condition beyond its reasonable control (Force Majeure), including but not limited to, governmental action, the war, riots, hurricane, typhoon, acts of terrorism, earthquake, fire, flood, lightning, explosion strikes, lockouts, emergency state, pandemic or any other diseases as defined by the World Health Organization (WHO), prolonged shortage of energy supplies, and acts of state or governmental action prohibiting or impeding any party from performing its respective obligations under the Agreement or other acts of God, labour conditions, power failures, and Internet disturbances.
• If the above force majeure events last for more than 2 (two) months, either Party shall have the right to unilaterally terminate General Service Conditions any of Contracts on Services notifying the other Party of it.
• The burden of proof rests on the Party claiming that it is unable to fulfil its obligations due to the above force majeure events in order to prove the occurrence of such force majeure events, and said Party shall, within 5 (five) days, duly and in writing inform the other Party about the occurrence and cessation of such circumstances.

14. FINAL PROVISIONS

• Each Party confirms that it possesses all permissions and licenses required under the applicable law for the execution of the Account Agreement and other Contracts on Services.
• Titles of sections and articles of the General Service Conditions are intended solely for convenience of the Parties and may not be used for interpretation of the provisions of the General Service Conditions.
• The Client does not have the right to assign its rights and obligations arising out of the Account Agreement or other Contract on Services to third parties without a prior written consent from the Company. The Company reserves the right to assign its rights and obligations arising out of the Account Agreement or other Contract on Services to third parties at any time without a consent from the Client if such transfer of rights and obligations does not contradict the legislation.
• The Company is entitled to set off mutual claims with the Client, unless otherwise agreed between the Parties. The Company must notify the Client about the executed set-off pursuant to the Contract on Service or the legislation. The Client is not entitled to set off mutual claims with the Company, unless otherwise agreed between the Parties.
• If any provision of the General Service Conditions becomes invalid, other provisions of the General Service Conditions shall remain in force.