TRANSFERRA UN LIMITED Terms and Conditions for Payment Services and the Use of Electronic Money
These Terms and Conditions for Payment Services and the Use of Electronic Money (the “Terms”) and each of the documents we refer to in them are our standard client agreement (the “Framework Contract”). It creates a legally binding agreement between You (hereinafter referred to as “You” or the “Client”) and TRANSFERRA UN LIMITED (hereinafter referred to as “Us” or “TRANSFERRA”) relating to the use of Electronic Money issued by TRANSFERRA as a means of payment on the Website.
For your own benefit and protection, You should read these Terms and each of the documents we refer to carefully before accepting them. If you do not understand any point, please ask for further information.
TRANSFERRA is a company limited by shares incorporated in England and Wales with registered number 13014681 whose registered office is at 37th Floor 1 Canada Square, Canary Wharf, Greater London, London, United Kingdom, E14 5AA.
TRANSFERRA is an Electronic Money Institution (EMI) authorised by the Financial Conduct Authority (hereinafter also referred to as the “FCA”) to issue electronic money under the Electronic Money Regulations 2011 (EMRs 2011) and provision of other payment services under Payment Services Regulations 2017 (PSRs 2017), FCA Reference number: 942346.
You can contact TRANSFERRA at its registered offices, which are at 37th Floor 1 Canada Square, Canary Wharf, Greater London, London, United Kingdom, E14 5AA, or by email at: email@example.com
References hereinafter to the “Parties” are a reference to You and TRANSFERRA.
For the purposes hereof, the words hereafter are defined as follows:
Business Day: means a day other than a Saturday, Sunday or a public holiday in England when financial institutions in London are open for business.
Client: any natural or legal person acting on their own behalf and holding Electronic Money registered in an E-Wallet Account opened in their name, in order to carry out one or more Payment Transactions.
Electronic Money: means the monetary value available at any given time that represents a debt payable by TRANSFERRA to the Client. Electronic Money is issued by TRANSFERRA in exchange for the Client’s delivery of the corresponding funds and constitutes a means of payment exclusively accepted by the Recipients. TRANSFERRA stores the Electronic Money on its server in an E-Wallet Account opened for this purpose.
E-Wallet Account: an account opened in TRANSFERRA’s system in the name of the Client and used to make Payment Transactions. It’s allowing TRANSFERRA:
(a) to identify in its records each Client’s Payment Transaction.
(b) to determine the amount of Electronic Money available to the Client at any time. The E-Wallet Account may under no circumstances be compared to a deposit account or a current account.
Fee Schedule: means the document comprising all the fees payable by a Client for the use and management of an E-Wallet Account and in respect of Payment Transactions made using an E-Wallet Account. The Fee Schedule is included in the Website’s pricing.
Login: means the data required for TRANSFERRA to identify a Client in order to get access to your E-Wallet Account.
Order: means the instruction given by the Client to TRANSFERRA via the System for the purpose of carrying out a Payment Transaction. An Order may not be withdrawn by You after the date on which it is deemed irrevocable as indicated in these Terms.
Payment Transaction: means a money transfer operation in Client E-Wallet Account, wherein funds received by the Client and sending and converting initiated by the Client.
Recipient: means private individual or legal entity specified in the Order as recipient of funds of the Payment Transaction.
Strong Customer Authentication: means authentication based on the use of two or more elements that are independent, in that the breach of one element does not compromise the reliability of any other element and designed in such a way as to protect the confidentiality of the authentication data. Rules for Strong Customer Authentication are set in the Payment Services Regulations 2017 (PSRs).
Terms: means the present document.
Website: means the website which is operated by TRANSFERRA at https://transferra.uk/.
2.1. These Terms and Conditions constitute the entire terms and conditions concluded between the Parties for the provision of e-money services and the opening and management of Your E-Wallet Account.
2.2. The services that will be provided by Us under these Terms and Conditions shall include: (i) the opening and management of an E-Wallet Account, (ii) issuing e-money to your E-Wallet Account (upon receipt of cleared funds paid to Us by an accepted payment method), (iii) redeeming e-money (following a request by you to redeem e-money held in your E-Wallet Account and funds converting).
3. Client Registration
3.1. Registration procedure and procedure for opening an E-Wallet Account:
3.1.1. You must provide:
(a) your surname, name and email address (for natural persons); or
(b) Company name, e-mail address (for legal persons), if TRANSFERRA is not already in possession of this information.
3.1.2. You confirm upon submission of Your request to register to TRANSFERRA that:
(a) (if You are a natural person) You are at least 18 (eighteen) years old;
(b) You are legally competent to enter into this Framework Contract;
(c) You are acting on your own behalf and not for any other person; and
(d) all information that You provided during registration is true, accurate and up-to-date.
3.1.3. Legal E-Wallet Account requires the Client to submit the application form, documents and information set by TRANSFERRA. To become a Client, the Client must apply providing all of the information requested on the registration stage of Website and 3rd party AML providers. The Client must not provide any false, inaccurate, incomplete or misleading information. The Client may only open an E-Wallet Account in TRANSFERRA if it is legal to do so in the Client’s country of residence. By opening an E-Wallet Account in TRANSFERRA the Client represents and warrants to TRANSFERRA that the Client’s opening E-Wallet Account of TRANSFERRA does not violate any laws or regulations applicable to the Client.
3.1.4. The documents required for any Client who is a natural person in accordance with the above are as follows:
(a) A copy of an official and valid identity document;
(b) A document of proof of address which is less than 3 months old.
3.1.5. The documents required for any Client who is a legal person in accordance with the above are as follows:
(a) An original or copy of an extract of the official register, less than three months old and stating the name, legal form, head office address and the identities of associates and executives;
(b) A certified copy of the statutes and any decisions appointing the legal representative;
(c) A copy of the legal representative’s identity document and a document of proof of address which is less than 3 months old;
(d) A copy of each beneficiary’s identity document and a document of proof of address which is less than 3 months old;
(e) Any other document requested in Application form.
3.1.6. It is expressly provided that TRANSFERRA retains the right to request at any time additional documents regarding the Client, including any Client’s Payment Transaction.
3.2. E-Wallet Account use limitations:
3.2.1. At TRANSFERRA’s discretion, a Client who has not provided all the required documents as listed below may be set to limitations to use his/her E-Wallet Account. Upon receipt of all the documents listed below and provided that they are deemed satisfactory by TRANSFERRA, such limitations will be lifted.
3.3. TRANSFERRA will contact You using the contact details You provided when You opened Your E-Wallet Account, or any updated contact details You have provided to TRANSFERRA. It is Your responsibility to update TRANSFERRA with any new contact information, including a change in address. TRANSFERRA will send any correspondence to the most recent email address or postal address You have provided to TRANSFERRA for Your E-Wallet Account. You must advise TRANSFERRA promptly of any change to Your contact details in the interests of security (including name or address) and provide appropriate supporting evidence required by TRANSFERRA.
4. Operation of the E-Wallet Account
4.1. Clients can send funds and receive funds by SEPA, SEPA instant, FPS, CHAPS, BACS transfer and Internal payments by TRANSFERRA, or any other means accepted by TRANSFERRA, in one or more instalments.
4.1.1. Before submitting a payment instruction to Us, You must ensure that you have sufficient e-money available in your E-Wallet Account to cover the Payment Transaction amount and any related costs (as set out in the Fee Schedule), otherwise we will refuse the Payment Transaction.
4.1.2. To carry out such a Payment Transaction, You must Login to the Website and place a money transfer order via the dedicated Payment Transaction page. TRANSFERRA E-Wallet Account is protected by additional security measures such as Strong Customer Authentication, the Client needs to follow the instructions provided to the Client with such additional security measures.
4.1.3. TRANSFERRA may refuse any payment at its sole discretion and without giving rise to any right to compensation.
4.1.4. Any sums debited from your E-Wallet Account will be as a result of (i) the execution of Payment Transactions, (ii) the collection by TRANSFERRA of any fees owed by you under the Terms and Conditions and the Fee Schedule, or (iii) the reversal of a transaction you made by an accepted payment method.
4.1.5. Payments are subject to payment limits. These limits are set depending on the Client’s E-Wallet Account level.
4.1.6. The amount of Electronic Money available on the E-Wallet Account is automatically adjusted based on the Orders transmitted to TRANSFERRA (or in the process of being transmitted), the Electronic Money issued, any charges due and payable and any cancellation of one of the aforementioned transactions hereunder.
4.1.7. Where appropriate, the Client must acquire a sufficient amount of Electronic Money before an Order can be legitimately transmitted to TRANSFERRA for execution. The Electronic Money may be issued and stored by the Client, provided that the corresponding funds are duly received by TRANSFERRA. The Electronic Money may in no way be issued on the basis of a credit granted to the Client.
4.2. The transmission terms of a Payment Transaction by the Client are as follows.
4.2.1. When carrying out a Payment Transaction, the Client logs on to the Website by entering his/her Login and password. The Client completes the relevant form on the Payment Transaction page and, where appropriate, provides the supporting documents. The form should include the following components: (i) the Payment Transaction amount; (ii) the currency; (iii) the details required to identify the Recipient; (iv) the Payment Transaction description; and (v) any other required information. The Client then gives his/her consent to the Payment Transaction and the Payment Transaction becomes irrevocable when the Client clicks on the validation tab on the form and confirms the Payment Transaction by Strong Customer Authentication.
4.2.2. Client must ensure that the payment details the Client enters when withdrawing funds are correct and complete. TRANSFERRA will not be liable for withdrawn funds being sent to the wrong payment instrument where this is due to the Client providing incorrect payment details. When withdrawing to a bank account, the Client must ensure that the account number, sort code, IBAN and/or BIC/SWIFT are correct.
4.2.3. If the Client has withdrawn funds to the wrong payment instrument, the Client may request that TRANSFERRA assist the Client in reclaiming the funds, however, TRANSFERRA will charge the Client a fee according to applicable Fees for doing so, and TRANSFERRA cannot guarantee that the reclaim efforts will be successful.
4.2.4. TRANSFERRA reserves the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorising any withdrawal of the Client’s funds, including in relation to returning any funds to the Client after the Client has closed TRANSFERRA E-Wallet Account.
4.2.5. TRANSFERRA shall be deemed to have received submitted instructions in accordance with the following principles:
(a) if TRANSFERRA and You mutually agree that execution of the Payment Transaction is to take place:
(i) on a specific day;
(ii) on the last day of a certain period; or
(iii) on the day on which you have put funds at the disposal of TRANSFERRA,
the time of receipt is deemed to be the day so agreed, unless it is not a Business Day in which case it will be deemed to be received on the next applicable Business Day;
in all other cases:
(b) if an instruction is submitted before 1600 GMT on a Business Day, it will be deemed to be received on that Business Day;
(c) if an instruction is submitted after 1600 GMT on a Business Day, it will be deemed to be received on the next applicable Business Day;
(d) if an instruction is submitted on day that is not a Business Day, it will be deemed to be received on the next applicable Business Day.
5. Login objection, Transaction dispute and Reporting
5.1. Login objection:
5.1.1. The Client must inform TRANSFERRA of the loss or theft of their Login, or misuse or unauthorized use of his/her Login or data as soon as he/she becomes aware of this fact in order to request that the Login be blocked. Such a declaration should be made:
(a) by telephone call to the customer service of TRANSFERRA; or
(b) directly by email through the contact form available on the Website.
5.1.2. On receipt of the notification, TRANSFERRA, through TRANSFERRA, will immediately block Your E-Wallet Account. The event will be recorded and time stamped. A time stamped objection number will be communicated to the Client. A written confirmation that Your E-Wallet Account has been blocked will be sent to You by TRANSFERRA by email. TRANSFERRA is responsible for the file at an administrative level and retains all the data for 18 (eighteen) months. Upon written request by the Client and before expiration of such a deadline, TRANSFERRA will communicate a copy of this objection.
5.1.3. TRANSFERRA shall not be held liable for the consequences of any request to block Your E-Wallet Account that is made by a person who is not the Client.
5.1.4. An objection request is deemed to be made at the date and hour of its actual receipt by TRANSFERRA. In case of theft or fraudulent use of the Login, TRANSFERRA is entitled to request a receipt or a copy of the complaint, information about the circumstances leading to the alleged theft or fraudulent use from the Client who undertakes to respond as soon as possible.
5.2. Transaction Dispute:
5.2.1. For any claim concerning Payment Transactions or reimbursements executed hereunder by TRANSFERRA, the Client is advised to contact TRANSFERRA.
5.2.2. If You notify TRANSFERRA that TRANSFERRA has incorrectly executed an Order, TRANSFERRA will refund the amount of the incorrectly executed Payment Transaction and the E-Wallet Account will be restored to its former state before the receipt of the Order without undue delay. The Order is then resubmitted correctly. A Client who wishes to dispute a Payment Transaction not authorized by him/her shall contact the customer service department of TRANSFERRA by telephone (contact details shown on the Website) as soon as possible after becoming aware of it.
5.2.3. In the event of loss or theft of Your security information (Login and password), or where You have failed to keep your security information safe, You may be responsible for unauthorized transactions carried out before notification of the dispute. However, You may be responsible for a greater amount if You have acted fraudulently, have not used your E-Wallet Account in accordance with these Terms or otherwise through Your fault. Except where You have acted fraudulently, You will not be responsible for any losses incurred in respect of unauthorized Payment Transactions arising after you have notified TRANSFERRA of the lost, theft, misappropriation, or authorized use of your E-Wallet Account details.
5.2.4. The Client may dispute an authorized transaction whose exact amount is undefined or those whose final amount is not that which he/she could have reasonably expected taking into E-Wallet Account his/her profile, previous expenditures and the agreed upon conditions. This request must be submitted to TRANSFERRA within 8 weeks of the execution of the Order on the E-Wallet Account. TRANSFERRA must reimburse the Client within a period of 10 Business Days after receipt of the request, if the latter proves justified, taking into account applicable laws, and whether the request consists of all the components necessary for examination by TRANSFERRA. TRANSFERRA reserves the right to refuse such a reimbursement, which will be explained and notified to the Client. The latter will provide the necessary information in order to determine the circumstances of the Payment Transaction. TRANSFERRA reserves the right not to reimburse the fees resulting from the Payment Transactions concerned.
5.3.1. The Client may access, at any time, on its personal page on the Website, the indicative amount of Electronic Money available on their E-Wallet Account.
5.3.2. The Client has, on their personal page on the Website, a statement of Payment Transactions carried out on the E-Wallet Account. The Client is advised to pay careful attention to the list of these Payment Transactions.
5.3.3. TRANSFERRA shall make available to the Client upon written request a monthly statement of the E-Wallet Account, covering the 13 previous months.
6. Anti-money laundering and terrorism financing
6.1. TRANSFERRA is subject to applicable legislation regarding the combating of money laundering and the financing of terrorism. As a result, TRANSFERRA must obtain information from any Client, for any transaction or business relationship, of the origin, purpose and destination of a transaction or opening of an E-Wallet Account.
6.2. The Client recognizes that TRANSFERRA can, at any time, stop or delay the use of a Login, access to an E-Wallet Account or the execution of a Payment Transaction or a reimbursement in the absence of sufficient information pertaining to its purpose or nature. They are informed that a transaction carried out within the framework of these conditions may be subject to the national financial intelligence unit’s right to disclosure.
6.3. The Client can, in accordance with the legislation, access all of the information disclosed, provided this right to access does not undermine the purpose of the fight against money laundering and terrorism financing of terrorism, where this data concerns the applicant.
6.4. No prosecutions or civil liability actions can be brought, or any professional sanction taken against TRANSFERRA, its managers or employees who have reported their suspicions in good faith to the national authority.
7. Keeping E-Wallet Account Safe
7.1. You must protect the secrecy of your Login and password at all times and never disclose it to another person. You must take reasonable steps to keep Your Login and password safe and prevent fraudulent use of Your E-Wallet Account. For example, You should keep information relating to Your E-Wallet Account in a safe place, You should not write down your Login and password and You should take care to ensure that other people do not oversee or hear you using your Login and password.
7.2. You agree to immediately inform us in the event that You suspect any unauthorized use of Your E-Wallet Account.
7.3. TRANSFERRA reserves the right to immediately suspend or withdraw Your right to make Payment Transactions where (i) TRANSFERRA has reasonable grounds to believe that there may be a breach in the security of your E-Wallet Account, (ii) TRANSFERRA suspects unauthorized or fraudulent use of Your E-Wallet Account or (iii) TRANSFERRA is so required by law. If TRANSFERRA decides to take such action, TRANSFERRA will notify You in advance, except where this is not possible, in which case TRANSFERRA will inform You at the earliest opportunity. TRANSFERRA will not inform You if it would compromise its reasonable security measures or is otherwise unlawful. If the reasons for TRANSFERRA actions cease to exist, TRANSFERRA will reinstate Your E-Wallet Account.
8.1. TRANSFERRA undertakes to provide its services in accordance with the applicable and professional laws and regulations. In particular, TRANSFERRA will make every effort to ensure the security and confidentiality of the Client’s data, in compliance with current regulations in force. TRANSFERRA reserves the right to temporarily suspend access to the E-Wallet Account online for technical, security or maintenance reasons, without these operations being eligible for any compensation. TRANSFERRA will limit this type of interruption to a necessary minimum.
8.2. TRANSFERRA cannot, however, be held liable to the Client for possible errors, omissions, interruptions or delays produced by the Website resulting in an unauthorized access to the latter. Nor can TRANSFERRA be held liable for thefts, destruction or unauthorized communications of data arising from unauthorized access to the Website. In addition, TRANSFERRA will not be involved in the existing legal relationship between the Client and the Recipient of the Payment Transaction. TRANSFERRA cannot be held liable for faults, wilful default or negligence of the Client or Recipient towards each other.
8.3. TRANSFERRA is solely responsible for the security and confidentiality of the data exchanged within the framework of the use of the Website.
8.4. TRANSFERRA is responsible for the security and confidentiality of the data that it exchanges with the Client within the context of these Terms in respect of the creation and management of the E-Wallet Account, as well as the Payment Transactions associated with the E-Wallet Account.
9. Limitation of TRANSFERRA liability
9.1. TRANSFERRA will not intervene in any way in the legal and commercial relationships and any litigation arising between the Recipient and the Client. TRANSFERRA has no control over the compliance, security, legality, characteristics and appropriateness of the products subject to a Payment Transaction. In this respect, it is up to the Client to obtain all useful information before proceeding to the purchase of a product or service, the collection of funds or any other transaction, in full knowledge of all the considerations involved. Any transaction carried out by the Client gives rise to a contract directly formed between him/her and the Recipient(s) with whom TRANSFERRA has no contact. TRANSFERRA cannot, under any circumstances, be held liable for the non-performance or poor execution of obligations that may result, or possible damages caused to the Client in this respect.
9.2. If TRANSFERRA fails to comply with the Framework Contact, TRANSFERRA is responsible for any loss or damage You suffer that is a foreseeable result of TRANSFERRA breaching the Framework Contract or failing to use reasonable care and skill when providing its services under the Framework Contract, but TRANSFERRA is not responsible for any loss or damage that is not foreseeable or which is not caused by its failures.
9.3. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the Framework Contract was made, both TRANSFERRA and You knew it might happen.
9.4. You acknowledge and agree that TRANSFERRA will not be responsible to You for any loss or damage You suffer in connection with the use of the TRANSFERRA service where such loss or damage is caused by Your acts or omissions or by those of a third party including, but not limited to:
(a) Your failure to provide TRANSFERRA with accurate, complete and up to date information; or
(b) Losing or allowing third parties to gain access to your Login and password.
9.5. TRANSFERRA will take reasonable care to ensure that any data it holds in relation to You and Your E-Wallet Accounts is secure. However, You acknowledge and agree that a service provided via the internet cannot be completely secure and TRANSFERRA will only be responsible to You for loss or damage to Your data to the extent that it is caused by TRANSFERRA failure to take such reasonable care.
9.6. Whilst TRANSFERRA will use its reasonable efforts to make sure that its service is available to You when You want to use it, TRANSFERRA makes no promise or guarantee that its service will be uninterrupted or error free and TRANSFERRA will not be responsible to You for such errors or interruptions.
9.7. TRANSFERRA will not be responsible to You for any loss of profit, loss of business, business interruption or loss of business opportunity.
9.8. To the extent permitted by applicable law, we will not be liable for any indirect, incidental, punitive, or consequential damages arising out of or in connection with the Framework Contract.
9.9. Our liability is limited to the greatest extent permitted by law.
10. Client Commitments
10.1. The Client guarantees that no part of its profile on the Website will harm the rights of third parties or is contrary to the law, to public order or to accepted principles of morality.
The Client undertakes not to:
(a) Execute the Framework Contract in an illegal manner or in conditions that are likely to damage, deactivate, overload or impair the Website;
(b) Assume the identity of another person or entity, falsify or conceal his/her identity or age, or create any false identity; or
(c) Disseminate personal data or information concerning a third party, such as postal addresses, telephone numbers, email addresses etc.
10.2. In the event of Client default, TRANSFERRA reserves the right to take any appropriate measures in order to stop the relevant actions. TRANSFERRA will also be entitled to suspend and/or block access to the E-Wallet Account.
11. Duration and Termination
11.1. The Framework Contract is concluded for an unlimited period. It is applicable from the date of receipt by the Client of the email from TRANSFERRA confirming his/her registration with TRANSFERRA.
11.2. The Client can terminate the Framework Contract at any time on 30 (thirty) calendar days' advance notice to TRANSFERRA. TRANSFERRA can terminate the Framework Contract at any time on two months' advance notice to the Client.
11.3. Such termination shall also constitute the termination of the entire Framework Contract and consequently the closure of the E-Wallet Account.
11.4. To terminate the Framework Contract, the terminating Party, if it is the Client - shall transmit a notice of termination to the other Party from email registered with Our site, if it is TRANSFERRA - shall transmit a notice of termination to the other Party by contacts data of Client registration.
11.5. The Client shall indicate his/her bank or payment account details in the termination letter enabling TRANSFERRA to reimburse them with the available Electronic Money. In the absence of such information TRANSFERRA has no further obligations after having confirmed with the Client the transfer to the indicated bank account of the outstanding amount of the Electronic Money.
11.6. In the event of gross default, fraud or lack of payment on the part of the Client, TRANSFERRA reserves the right, without cause or prior notice, to suspend or terminate these conditions by sending an email accompanied by a registered letter with proof of delivery.
11.7. In the event that a successor to TRANSFERRA is nominated to issue the Electronic Money distributed on the Website, it is the responsibility of TRANSFERRA to obtain the Client’s express written consent to this change, about the amount of Electronic Money available and to indicate the arrangements for the transfer of funds corresponding to the available Electronic Money to TRANSFERRA.
11.8. It is envisaged that the Framework Contract will be automatically terminated in the event of new circumstances affecting the ability of one Party to commit to these Terms.
12. Amendment of the Contract
12.1. TRANSFERRA reserves the right, at any time, to amend the Terms. Such amendments will be sent by email to all Clients at least one (1) month before they take effect.
12.2. If You are not happy with any amendments that TRANSFERRA plans to make to the Terms, You can terminate the Framework Contract immediately and without paying a charge. If You do not end the Terms before the proposed amendments take effect, TRANSFERRA will consider that You have agreed to the amendments. The relationship between the Parties after the date the amendments come into force shall be governed by the new version of the Terms.
12.3. It is therefore important that the Client reads his/her emails and regularly reads the Terms available on the Website at any time.
13. Right of Cancellation
13.1. The Client has a period of 14 (fourteen) calendar days to cancel the Framework Contract, without having to either justify any reason or sustain any penalty. This deadline for cancellation shall start from the day of the Client's registration.
13.2. The Client must notify its decision to cancel within the prescribed deadline to TRANSFERRA customer service department by email which was registered on TRANSFERRA’s website. In respect of the exercise of a right of withdrawal by the Client, the Framework Contract will be cancelled without any fees charged to the Client.
13.3. In the event that a Client has already benefited from the service and is in possession of Electronic Money at the date of the withdrawal, they must transmit his/her bank account details to TRANSFERRA in order to allow TRANSFERRA to reimburse the Client with Electronic Money.
14. Personal data and professional secrecy
14.1. The Client’s personal data provided in connection with the opening of the E-Wallet Account, is used by TRANSFERRA for the purposes of managing his/her E-Wallet Account, Payment Transactions and reimbursements.
14.2. The Client agrees that his/her contact details and personal information obtained by TRANSFERRA in connection with the Framework Contract may be transmitted to operational providers, with whom TRANSFERRA has a contractual relationship, with the sole purpose of executing Payment Transactions and providing the services under the Framework Contract, provided that these third-party recipients of personal data are subject to regulations guaranteeing a sufficient level of protection. The list of the third-party recipients of the Client’s data is available upon request from TRANSFERRA compliance manager at the following address: firstname.lastname@example.org. This information is stored by TRANSFERRA or by any company authorized to do so in accordance with legal and regulatory rules.
14.3. The Client will be informed prior to any transfer of his/her personal data outside the UK. In such a case, TRANSFERRA undertakes to respect the regulations in force and to put in place any measure necessary in order to guarantee the security and confidentiality of data transferred in such a way. Certain information collected and held by TRANSFERRA thereunder may give rise to the rights of access and correction. Any Client may, at any time, obtain a copy of the information pertaining to him/her upon request addressed to TRANSFERRA customer correspondent at the following address: email@example.com. They may request the deletion or correction of this information by letter to TRANSFERRA at the address found at the beginning of this document. The Client may, at any time, object to receiving commercial solicitations, amend his/her contact details or object to their disclosure by sending a notification by registered mail or e-mail to the customer service address of TRANSFERRA.
14.4. TRANSFERRA will store the personal information and data for a maximum legal or regulatory period applicable depending on the purpose of each type of data processing.
15. Inactive E-Wallet Account
15.1. Any E-Wallet Account that is inactive for a period of 3 (three) months will receive a notification of inactivity by email from TRANSFERRA. If there is no response or use of available Electronic Money within 1 (one) month, TRANSFERRA may close the E-Wallet Account and keep it active for the sole purpose of the reimbursement of Electronic Money. The right of reimbursement may be subject to time limits pursuant to the law of the residence of the Client, with such time limits starting from the last transaction on the E-Wallet Account. If the Client responds within 1 (one) month confirming that the Client wishes to keep the E-Wallet Account opened, then E-Wallet Account will be kept opened subject to a monthly fee applicable to inactive E-Wallet Accounts (as long as the E-Wallet Account is or becomes inactive) in accordance with the Fee Schedule or as otherwise notified to the Client.
15.2. In the event of the death of the Client TRANSFERRA may close the E-Wallet Account and keep it active for the sole purpose of the reimbursement of Electronic Money. The right of reimbursement may be subject to time limits pursuant to the law of the residence of the Client, with such time limits starting from the last transaction on the E-Wallet Account. In the event of death, the Electronic Money can only be reimbursed to the Client’s assignee.
15.3. An E-Wallet Account that has been closed will not permit the further use of Electronic Money.
16. Events Outside The Control of a Party
16.1. Neither Party will be liable or responsible for any failure to perform, or delay in performance of, any of their obligations under the Framework Contract that is caused by an event outside the control of a Party.
16.2. An event outside the control means any act or event beyond a Party’s reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, 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, or failure of public or private telecommunications networks.
17. Independence of contractual provisions
17.1. If any of the provisions of the Framework Contract is held invalid or unenforceable, it shall be deemed deleted and will not invalidate the other provisions.
17.2. If one or more of the provisions of the Framework Contract lapses or is declared as such under any law or regulation or following a final decision of a court of competent jurisdiction, the other provisions will retain their binding force and scope. The provisions considered null and invalid would then be replaced by provisions closest in scope and meaning to those initially agreed.
18. Protection of funds
The collected funds are protected against any claims from other creditors of TRANSFERRA, including in the event of enforcement proceedings or insolvency proceedings against the institution.
The Framework Contract cannot be subject to a complete or partial transfer by the Client, whether against payment or free of charge. It is therefore forbidden to transfer to a third party any rights or obligations that the Client owns hereunder. In the event of breach of this prohibition, in addition to the immediate termination hereof, the Client may be held liable by TRANSFERRA.
20. Complaints Handling
20.1. If the Client wishes to make a complaint about the Service, the Client can email TRANSFERRA at firstname.lastname@example.org, with brief details of the complaint and the email address associated with the E-Wallet Account.
20.2. If the complaint is not resolved by the end of 3rd business days after the complaint is received, TRANSFERRA will initiate a formal complaint handling procedure. TRANSFERRA will acknowledge the Client’s complaint by email within 5 business days. The email will contain details of the Complaints Procedure and the Client’s right to refer the complaint to the Financial Services Ombudsman if the Client is dissatisfied with TRANSFERRA’s assessment and ruling.
20.3. Within 15 days (complaints about rights and obligations arising under Parts 6 and 7 of the PSRs 2017) or 8 weeks (complaints not related to rights and obligations arising under Parts 6 and 7 of the PSRs 2017) after a complaint, TRANSFERRA will send the Client a final response.
20.4. A complaint about any regulated aspect of the Service that TRANSFERRA cannot settle within 15 days (complaints about rights and obligations arising under Parts 6 and 7 of the PSRs 2017) or 8 weeks (complaints not related to rights and obligations arising under Parts 6 and 7 of the PSRs 2017) after the date of complaint may be referred to the Financial Ombudsman Service at The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR, United Kingdom (further details can be found at www.financial-ombudsman.org.uk).
21. Applicable law and competent jurisdiction
The Framework Contract is governed by the laws of England and Wales. You and TRANSFERRA agree to submit to the non-exclusive jurisdiction of the English courts.
1.1. The Terms and Conditions use the definitions below:
1.1.1. Agreement means an agreement (separate agreement or part of other services agreement) concluded between the Partner and the Client regarding provision of services to the Client and all its’ appendices;
1.1.2. Authentication is the performance of such operations as enable the Cardholder to be identified and/or the validity of the Card issued to the Cardholder to be established;
1.1.3. Means of Authentication means information, objects, attributes, or other means that enables the Cardholder to Authenticate himself, prove the validity of the Card, or authorize Operations (for example, a one-time authentication code, PIN or CVV code);
1.1.4. Authorisation means the process of giving the Cardholder permission to do or have something;
1.1.5. Available Funds means the amount of funds available in the balance for Operations;
1.1.6. Card means a payment instrument that uses the Visa network, issued by Wallester and which the Cardholder may use to perform Operations. The Card can be a Chip&Pin Card or a Virtual Card;
1.1.7. Card Data includes the Cardholder's name, the Card number, validity period and security feature (e.g. CVV code) of the Card;
1.1.8. Cardholder means a person corresponding to Wallester’ requirements and who has been authorized by the Client to use the Card on behalf of the Client. The Client is responsible for any Operations performed by the Cardholder with the Card;
1.1.9. Chip&Pin Card means a physical Card with an electronic chip, requiring a PIN-code as an authorization mean and has a Near Field Communication function. A Chip&Pin Card can be made of plastic, veneer, metal or any other suitable material;
1.1.10. Client means a customer of the Partner with whom the Partner has concluded the Agreement;
1.1.11. Digital Wallet is a service provided by another company (e.g. Apple Pay, Android Pay, Samsung Pay, etc.) that allows to use the Card to complete transactions where the Digital Wallet is accepted;
1.1.12. Imperative Norms are legal provisions contained in legislation that cannot be derogated from by agreement in favour of Wallester;
1.1.13. Near Field Communication (NFC) means technology which can be used for contactless exchange of data over short distances;
1.1.14. Operation means using the Card in a Terminal to pay for goods and/or services, or to obtain information, and/or to withdraw cash if cash withdrawal via Visa card is enabled by service providers other than Wallester, or using the Card for online payment to a merchant providing goods and/or services;
1.1.15. Partner means the contractual partner of Wallester;
1.1.16. Partner's Website means a website operated and managed by the Partner to provide its services to the Client and/or Cardholder;
1.1.17. Partner's Application means an application for a smart device, which is operated and managed by the Partner to provide services to the Client and/or the Cardholder;
1.1.18. Payment Card Terms and Conditions means this document, which stipulates the rights and obligations of Wallester, the Client and/or Cardholder in the provision of services by Wallester to the Client;
1.1.19. Strong Authentication means authentication of the Cardholder based on at least two elements that fall into the following categories: knowledge (something known only to the Cardholder), possession (something possessed only by the Cardholder), or attribute (something peculiar to the Cardholder), which are independent of each other, so that a breach of one of these elements does not compromise the credibility of the other, and the structure of which allows to protect the confidentiality of the authentication data;
1.1.20. Terminal means an ATM, point-of-sales terminal, or any other system (incl. online environment) through which the Cardholder can perform Operations with the Card;
1.1.21. Virtual Card means a Card that consists of digital Card Data, is accessible online and has no physical body;
1.1.22. Visa means the International Card Organization Visa Europe Ltd;
1.1.23. Wallester means Wallester AS (registration number 11812882), the payment services provider, registered office at F.R. Kreutzwaldi 4, 10120 Tallinn, Estonia, which holds activity license No. 4.1-1/224 issued by the Estonian Financial Supervision and Resolution Authority.
2. Use of the card
2.1. Only the Cardholder has the right to perform Operations with the Card.
2.2. Upon issuance of the Card, the Cardholder shall be provided with personal Means of Authentication (e.g. PIN or CVV code), which shall serve as the Cardholder’s signature when performing the Operations. At the Cardholder’s request, Wallester shall have the right to send the Card and the Means of Authentication by post to the address provided by the Cardholder to Wallester.
2.3. Before the Cardholder can use the Card, they must activate it by following the activation instructions provided by Partner. The Card is activated either in the self-service environment on the Partner’s Website or through the Partner's Application. The Cardholder may start performing Operations with the Card once the Card has been activated.
2.4. The Cardholder has the right to perform Operations within the amount and limits established by the Partner.
2.5. When using the Card, the Cardholder is required to use Strong Authentication, except for the limits prescribed for Operations performed with a Near Field Communication device.
2.6. If there is not enough Available Funds available to perform an Operation with the Card, some merchants will not allow the combined use of the Card with other payment methods.
2.7. Wallester starts the execution of the Operation immediately after the Cardholder has authorized the Operation with the Card. Authorization (the Cardholder's consent to perform an Operation) may be performed using the Card or through the acquirer using the Card Data. If the Cardholder has authorized the Operation with the Card, the Cardholder is not entitled to a refund of the Operation, unless the person who provided the corresponding service (for example, the merchant) agrees to refund the amount paid for the Operation.
2.8. At the request of the person servicing the Card, the Cardholder is obliged to present an identity document and consent to the recording of the document's data.
2.9. Wallester has the right to refuse to execute any Operations with the Card if:
2.9.1. the Card is invalid or closed or the use of the Card is blocked;
2.9.2. Wallester's believes that the Operation may violate the law or the terms of this Payment Card Terms and Conditions;
2.9.3. The Card is being used on illegal websites or with payment processors supporting illegal websites, or to purchase illegal goods or services;
2.9.4. The Operation amount and/or limit (including the Operation fees and expenses) exceeds the Available Funds and/or the limit established by Wallester and/or the Partner;
2.9.5. On any other basis arising from the Agreement or this Payment Card Terms and Conditions or legislation.
2.10. Wallester has the right to block the use of the Card until the circumstances have been verified if:
2.10.1. Wallester has become aware of a circumstance on the basis of which it can be reasonably concluded that the Card is available and/or its Means of Authentication are known to a person who is not authorised to use the Card;
2.10.2. The use of the Card may be associated with fraudulent or unlawful activities;
2.10.3. The Client or the Cardholder fails to fulfil its obligations under the Agreement or this Payment Card Terms and Conditions;
2.10.4. There are other grounds for blocking based on the Agreement, this Payment Card Terms and Conditions or legislation.
2.11. If the basis for blocking the Card pursuant to Clause 2.10 does not cease to exist or there is another basis for closing the Card under the Agreement or this Payment Card Terms and Conditions, Wallester has the right to close the Card.
2.12. Unless otherwise provided in the Imperative Norms, Wallester shall not be liable for any damage caused to the Client and/or the Cardholder or any other third party as a result of Wallester blocking the use of the Card or closing the Card in accordance with the Agreement or this Payment Card Terms and Conditions. This shall also apply if Wallester blocks the use of the Card in good faith on the basis of false information.
2.13. Wallester has the right to assume that all the Operations with the Card have been carried out by the Cardholder in accordance with the Cardholder's will, until proven otherwise or until the Cardholder has informed Wallester in accordance with Clause 3.3.
2.14. When using the Card, the fees related to the Operations are also taken into account, including the fee for requesting a limit query and/or viewing the Operation statement via ATM, as well as the additional fees and conversion fees calculated by Visa, etc.
3. Security requirements for using the card
3.1. The Cardholder shall use the Card in accordance with this Payment Card Terms and Conditions including the following requirements:
3.1.1. to make every effort to protect the Chip&Pin Card from mechanical damage, high temperatures, electromagnetic exposure, copying, alteration, etc.;
3.1.2. not to disclose the Chip&Pin Card or the Card Data or the Means of Authentication to any third party, except to the person accepting the payment for the duration of an Operation;
3.1.3. to use the Card only in Terminals marked with the Visa logo or in Internet environments supported by Visa and to follow the instructions of the Terminal or the Internet environment when performing Operations. The instructions written on the Terminal shall be deemed to be correct and given by the Terminal. Wallester shall not be liable for any damage caused by a breach of this Clause of this Payment Card Terms and Conditions;
3.1.4. not to use the Card for illegal purposes and in a manner prohibited by applicable law, including the purchase of prohibited goods and services;
3.1.5. not to store the Card Data or the Means of Authentication on a data carrier;
3.1.6. to immediately report any errors or disruptions hindering the performance of Operations;
3.1.7. to beware of fraud. Wallester will never ask the Client or the Cardholder to provide Wallester with the Card Data or the Means of Authentication by email or phone. Therefore, do not provide anyone with any information about the Card Data or the Means of Authentication if such request is purportedly made on behalf of Wallester;
3.1.8. fulfil other obligations arising from the Agreement or this Payment Card Terms and Conditions or legislation.
3.2. If the Card is unauthorized or misused, or if the Card and/or its Means of Authentication have been lost or stolen or have or may have become known to a third party who is not entitled to use them, the Cardholder is obliged to promptly report the incident to the Partner.
3.3. Upon receipt of the information referred to in Clause 3.2, Wallester shall make every effort to prevent further use of the Card (incl. blocking the Card).
3.4. Wallester and/or any other person servicing the Card has the right to refuse to execute the Operation and/or withhold the Card if the Card and/or its Means of Authentication have been used incorrectly or if Wallester and/or the person servicing the Card has doubts about the user’s identity.
3.5. Wallester shall follow PCI DSS 3.2 requirements and follow the procedures for securing and monitoring access of Cardholder data.
4. Validity of the card and issue of a new card
4.1. The Card is valid until the last day (inclusive) of the calendar month indicated on the Card.
4.2. After the expiry of the validity period of the Card:
4.2.1. Wallester shall have the right to issue a new Chip&Pin Card (replacement card). The Partner shall inform the Client about the time and/or manner of receiving the new Chip&Pin Card;
4.2.2. the new Virtual Card is not issued automatically. The Client has to submit a new application for the Virtual Card.
4.3. Wallester has the right not to issue a new Card upon expiry of the Card's validity or upon the Client's application for a new Card (replacement card), if the Client and/or the Cardholder has breached any obligation or condition for the use of the Card arising from this Payment Card Terms and Conditions or any other agreement concluded with Wallester, or if the Client or the Cardholder no longer meets the requirements set by Wallester.
4.4. If the Client does not want a new Chip&Pin Card, the Client shall notify the Partner in writing or in another manner accepted by the Partner at least 45 days before the last day of the month indicated on the Card.
4.5. If the Client does not accept the Card and/or the Card is not activated within 3 months from the date of creation of the Card, Wallester has the right to close and destroy the Card without refunding any service charges.
4.6. The Client undertakes not to use the Card and not to allow the Cardholder to use an invalid, closed or otherwise unusable Card, and to physically destroy the Card within 3 days after it became closed or invalid or unusable.
5. Digital wallet
5.1. An alternative way to use the Card may be the Digital Wallet service. Use of the Digital Wallet is subject to additional terms and conditions and is provided at the sole discretion of Wallester. The Digital Wallet may not be accepted at all locations where the Card is otherwise accepted. The Cardholder may add or remove a Card from the Digital Wallet in accordance with the Digital Wallet provider's instructions.
5.2. Wallester will not charge the Client any additional fees for adding the Card to the Digital Wallet or using the Card in the Digital Wallet. The Digital Wallet provider may charge additional fees for the use of the Digital Wallet.
5.3. Wallester is not a Digital Wallet provider and is not responsible for the provision of the Digital Wallet service or for any failure of the Digital Wallet or inability to use the Digital Wallet for any transaction. Wallester is only responsible for providing secure information to the Digital Wallet provider to enable the use of the Card in the Digital Wallet as requested by the Client.
5.4. The Cardholder is responsible for protecting their mobile device, passwords and other information required to make Operations using the Digital Wallet and is responsible for all transactions made through their mobile device, whether the credentials used are those of the Cardholders or another person.
5.5. In the event of any questions, disputes or complaints in connection with the Digital Wallet, the Client should contact the Digital Wallet provider.
6. Entry into force, amendment and termination
6.1. The Payment Card Terms and Conditions shall enter into force upon signing the Agreement between the Partner and the Client and shall be concluded for an unspecified term.
6.2. Wallester has the right to unilaterally amend the Payment Card Terms and Conditions. The content of the changes will be communicated to the Client by the Partner by giving the Client at least 2 months' notice thereof. Within these 2 months, the Client has the right to terminate the Payment Card Terms and Conditions with immediate effect and free of charge provided that all the obligations arising from the Agreement and the Payment Card Terms and Conditions have been fulfilled. If the Client has not terminated the Payment Card Terms and Conditions within the period specified above, he shall be deemed to have accepted the amendments.
6.3. Wallester has the right to terminate the provision of services to the Client by giving Client at least 2 months' ordinary notice thereof.
6.4. Wallester has the right to terminate the Payment Card Terms and Conditions as an extraordinary remedy without prior notice if:
6.4.1. the risks associated with the Client are beyond Wallester's risk appetite;
6.4.2. the circumstances stipulated in Clause 2.10 have been verified;
6.4.3. the Card issued hereunder has been closed and/or blocked for at least 4 consecutive months;
6.4.4. the Card expires and the Cardholder fails to accept the new Card from Wallester within the period stipulated in Clause 4.5 (incl. failure to activate the new Card);
6.4.5. the Card has not been used for Operations for 6 consecutive months.
6.5. In addition to the cases stipulated in the Payment Card Terms and Conditions, Wallester has the right to terminate the Payment Card Terms and Conditions as an extraordinary remedy without giving advance notice on other statutory grounds.
6.6. The termination of the Payment Card Terms and Conditions shall not affect the validity of the Agreement concluded between the Partner and Client and the collectability or satisfaction of financial claims arising prior to the termination of the Payment Card Terms and Conditions.
6.7. Termination of the Agreement concluded between the Partner and the Client shall result in immediate termination of the Payment Card Terms and Conditions and blocking of the Card.
7.1. Wallester and the Client and/or the Cardholder shall be liable for breach of their obligations in accordance with the provisions of this Payment Card Terms and Conditions and legal enactments. Wallester shall not be liable for failure to perform Operations if:
7.1.1. if there are insufficient Available Funds to carry out the Operation;
7.1.2. if there is not enough cash in the ATM where the Operation is performed;
7.1.3. if the Terminal where the Operation was performed did not work properly;
7.1.4. if circumstances beyond Wallester's control (e.g. fire, flood, national emergency, computer or communication failure) prevent the Operation from being performed;
7.1.5. if a merchant refuses to accept the Card;
7.1.6. if the Card has been blocked after the Client or the Cardholder has reported the loss or theft of the Card or the Card Data;
7.1.7. if Available Funds are subject of legal proceedings or any other encumbrance restricts their use;
7.1.8. if Wallester has reason to believe that the Operation is unauthorized;
7.1.9. there are other reasons arising from this Payment Card Terms and Conditions or legislation.
7.2. Wallester shall not be liable for third parties involved in performing Operations, for goods or services paid by the Card, and in cases where acceptance of the Card for the performance of an Operation is refused.
7.3. If an unauthorized payment has been made using the lost or stolen Card and/or the Means of Authentication, or if the Card and/or the Means of Authentication have been used in any other unlawful manner, and if the Cardholder has not properly stored the Card and/or the Means of Authentication, and if there are no legal circumstances excluding liability, the Client and the Cardholder shall be liable for any damage caused until the acceptable notification to Wallester, but not exceeding the amount of 50 euros. This amount limit shall not apply if the unauthorized payment is due to fraud on the part of the Client or the Cardholder, or if the Client or the Cardholder has intentionally or grossly negligently breached the following:
7.3.1. the obligation to use the Card and/or the Means of Authentication in accordance with this Payment Card Terms and Conditions on its issuance and use, including the obligation to make every effort to protect the Card and/or the Means of Authentication enabling its use from the moment of receipt of the Card and/or the Means of Authentication;
7.3.2. the obligation to report the loss, theft and unauthorized or improper use of the Card and/or the Means of Authentication immediately after becoming aware of the relevant incident;
7.3.3. one or more conditions for issuing or using the Card and/or the Means of Authentication.
7.3.4. The Partner shall be solely liable to the Client and the Cardholder for the performance of the Partner's obligations. Wallester shall in no case be liable for the Partner if the Partner fails to fulfil its contractual obligations.
8. Wallester’s rights in prevention of money laundering and terrorism financing
8.1. In preventing money laundering and terrorist financing, Wallester shall have the following rights:
8.1.1. to request additional information about the Client and/or the Cardholder, their representatives, owners and ultimate beneficial owners and the Client’s business activities, incl. data on the origin of the wealth of the Client and their beneficial owners, on their contractual partners, turnover, the share of cash and non-cash transactions, frequency of transactions, etc.;
8.1.2. periodically verify the information forming the basis for the identification of the Client and/or the Cardholder and request the Client and/or the Cardholder to submit additional documents;
8.1.3. to identify the Client, the Cardholder and/or the beneficial owner at any time chosen by Wallester, especially, if Wallester has doubts about the accuracy of the information obtained during the initial identification;
8.1.4. to impose temporary or permanent restrictions on Operations;
8.1.5. to request documents and information about the activities of the Client and/or the Cardholder, including information about the purpose and nature of the transaction and the origin of the Client’s assets;
8.1.6. to request the Client documents that form the basis of a transaction, including information or documents about the counterparty to the transaction, the beneficial owner, or other persons involved in the transaction;
8.1.7. to request the Client and/or the Cardholder to provide any other information and to take any other action Wallester deems necessary to implement its anti-money laundering and counter-terrorist financing measures.
8.2. Wallester has the right to refuse to provide services to the Client or to issue a Card and/or to execute Operations if the Client and/or the Cardholder fails to comply with the requirements set out in Clause 8.1.
9. Information and submission of complaints
9.1. Where necessary, Wallester shall provide the Client, through the Partner, with a statement of the Cardholder's operations and related expenses in the self-service environment on the Partner's Website.
9.2. The Client or the Cardholder is obliged to check the correctness of the performed Operations. Complaints regarding unauthorized and/or improperly executed Operations shall be raised without undue delay, but no later than within the time limit provided for by the applicable legislation, in a format that allows for written reproduction.
9.3. If the Client or the Cardholder has authorized the Operation without knowing the exact amount, the Client has the right to file a complaint to or claim refund of the Operation amount directly from the recipient of the payment resulting from the Operation, instead of Wallester.
9.4. All other complaints and disputes between the Client and Wallester shall be settled by negotiation. If Wallester and the Client fail to reach an agreement with negotiations, the dispute shall be settled by the court of the place where Wallester has its registered office.
9.5. The Client agrees that the contractual relations arising from these Payment Card Terms and Conditions shall be governed by the laws of the Republic of Estonia and that disputes shall be settled by the Estonian court, unless it conflicts with Imperative Norms.
10. Final provisions
10.1. Wallester and the Client agree not to disclose any information relating to the conclusion or performance of this Payment Card Terms and Conditions to any third party, unless this is necessary for the processing of the Card or the Operations or has been agreed herein. Wallester shall have the right to process relevant data in order to provide the service to the Client and/or the Cardholder in accordance with this Payment Card Terms and Conditions.
10.2. Wallester has the right to disclose information about Operations, the Card, the Client and/or the Cardholder to third parties whose right to receive information arises from legal enactments and/or Wallester’s principles of processing client data.
10.4. Supervision over Wallester’s activities shall be carried out by the Estonian Financial Supervision and Resolution Authority (address: Sakala 4, 15030 Tallinn, telephone: +372 66 80 500, e-mail: email@example.com, website: www.fi.ee).