TERMS AND CONDITION
This framework contract (hereinafter referred to as Contract) constitutes the business conditions of the CitizenMoney.
Citizen Money’s clients can hold public deposits in many currencies on the accounts provided by Citizen Money
1. DEFINITION
The following definitions when used in this Contract or any document referred to Herein shall have the following meaning:
1.1. Account means the payment account the Customer has opened or is about to open with the Company.
1.2. API means a publicly available technical interface for the interconnection of account servicing payment service providers, payment initiation service providers, account information service
Providers, other payment service providers, payers and payees.
1.3. Authentication means a procedure which allows the Company to verify the identity of a payment service user or the validity of the use of a specific payment instrument, including the use of the user’s personalised security credentials.
1.4. Business Day means a day established by the Company on which
The Company participating in the execution of a payment transaction,
Carries out activities necessary for such payment transaction. The Company may
establish different Business Days for the provision of different services and/or for the
execution of different payment transactions. Unless the Contract or its annexes
establishes otherwise, a Business Day of the Company means a day, other than
Saturday or Sunday, or any other national day, set forth by the legal acts of UK.
1.5. Confidential Information means any information which is marked as “Confidential” or “Proprietary” or should be reasonably expected to
Be confidential having regard to the context of disclosure or the nature of the information; including, without prejudice to the
Generality of the foregoing, business plans, data, strategies methods, customer and Customer lists, technical specifications, transaction data and customer data shall be deemed confidential.
1.6. Consumer means a natural person acting for purposes other than His/her trade, business, or profession under this framework contract. Framework contract Citizen Money Page 1 of 30
1.7. Contract means this framework contract and its annexes, if any.
1.8. Customer means a natural or legal person who uses or has requested to use the services provided by the Company as the payer And/or the payee.
1.9. Customer’s Account means the Customer’s profile opened in the Company’s system.
1.10. Commission fee means a fee (charge) applied by the Company for The payment transaction and/or related payment services, services Linked to the Account or which is related to these services.
1.11. Direct debit means a payment service for debiting a Payer’s payment account, where a Payment transaction is initiated by the Payee on the basis of the consent given by the Payer to the Payee, to the Payee’s payment service provider or to the Payer’s own payment service provider;
1.12. Durable medium means any instrument which enables the payment
Service user to store information addressed personally to that payment service user in a
way accessible for future reference for a period of time adequate to the purposes of the
information and which allows the unchanged reproduction of the information stored.
1.13. Funds mean banknotes and coins, as well as scriptural money.
1.14. Password means a static alphanumeric string being a part of the strong
authentication data, exclusively determined by the Customer.
The Company shall not have access to the password, nor shall request it from the
Customer at any time.
1.15. Payment order means any instruction (payment request) by the
Payer or payee to his payment service provider requesting the execution of a payment
transaction.
1.16. Payment transaction means 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.
1.17. Party means the Company or the Customer.
1.18. Parties means the Company and the Customer.
1.19. Payment instrument means any personalized device and/or certain procedures
agreed between the Customer and the Company and
Used by the Customer for the initiation of a Payment order.
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1.20. Payment service user means a natural or legal person making use
Of a payment service in the capacity of Payer, Payee, or both.
1.21. Payment service provider means
i) a bank or a branch of a foreign bank;
ii) a payment institution established under the legal acts, or a
branch of a payment institution;
iii) other similar financial institution providing payment services.
1.22. Payer means a natural or legal person who holds a payment
Account and allows a Payment order to execute from that payment
Account, or, where there is no payment account, a natural or legal
Person who gives a Payment order.
1.23. Payee means a natural or legal person who is the intended recipient
Of funds which have been the subject of a Payment transaction.
1.24. Personalized security credentials mean personalized features
Provided by the payment service provider to a payment service user
For the purposes of authentication.
1.25. Services means the services provided by the Company under this
Contract.
1.26. Statement means a document prepared and provided by the
Company, which includes information about Payment transactions
Executed within the specific period of time.
1.27. Strong customer authentication measures means an authentication based on the
use of two or more elements categorized
As knowledge (something only the Customer knows), possession
(something only the Customer possesses) and inherence (something
The Customer is) that are independent, in that the breach of one does
Not compromise the reliability of the others, and is designed in such a
Way as to protect the confidentiality of the authentication data.
1.28. Third party means any natural or legal person, other than the
Parties.
1.29. Unique identifier means a combination of letters, numbers or
Symbols specified to the payment service user by the payment service provider and
used to identify unambiguously the payment service user and/or his payment account
for a Payment transaction.
The Unique Identifier may be the individual number expressed by
International Bank Account Number (IBAN).
1.30. Foreign country means a country other than a State.
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1.31. State means any State.
1.32. Website means Company’s website at the address https://
www.citizenmoney.com.
2. APPLICATION OF THE CONTRACT
2.1. In addition to the Contract, relationships pertaining to the provision of Services
shall also be governed by laws and other legal acts of Switzerland, fees list and
additional annexes signed by the Parties as well as the principles of soundness, justice
and fairness in the
Provision of Payment services.
2.2. The present Contract determines the main terms and conditions
Between the Customer and the Company when the Customer
Registers in the Company’s system, opens an Account and uses other
Services provided by the Company
3. SERVICES PROVIDED BY THE COMPANY
3.1. The Company provides the following services:
3.1.1. Payment and transfer transactions.
3.1.2. Foreign currency exchange.
3.1.3. Debit Cards
4. ACCOUNT OPENING IDENTIFICATION
4.1. For the Customer to open the Account at the Company and to start to
Use the Services, the Customer has to register on the Company’s
Website, complete the Customer’s questionnaire and upload all
Requested documents:
4.1.1. Natural persons – the Customer shall provide including, but not
Limited to the following information and documents to the
Company – ID card or passport, which shall indicate at least
Forename, surname, personal code, date of birth and etc., the
Filled Customer’s questionnaire, other information or
Documents, which the Company may request based on the
Individual circumstances and which would allow the Company
To verify the Customer’s identity.
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4.1.2. Legal entities – the Customer shall provide including, but not
Limited to the following information and documents to the Company – Business license
or the extract from the public registers of the relevant authority about the Customer as
legal
Entity, which shall indicate at least the basic information about Customer – registered
name, registered location, registration number, tax registry number, power of attorney
which shows
That the legal representative of the legal entity is enable to concluded this Contract with
the Company, the filled Customer’s questionnaire, other information or documents,
which the
Company may request based on the individual circumstances and which would allow the Company to verify the Customer’s Identity.
4.1.3. The Customer is informed and agrees that the Company has
The right to require the Customer to provide the original
Documents and/or the copies of documents approved by a
Notary or another person authorized by the particular state.
4.1.4. In specific cases in order to ensure the Customer identification
Or to perform other necessary duties, the Company has the
Right to demand the Customer to complete specific procedure
(e.g. Zoom, WeChat, Skype and/ or Viber video call) indicated
By the Company.
4.1.5. The Customer confirms that all the data provided during the
Registration process is correct and up-to-date. During the
Ongoing business relationship, if there are any changes in the
Provided data, the Customer is obligated to provide updated
Information as soon as possible, but not later than 5 (five)
Business Days after the changes.
4.1.6. Before registering in the Company’s system, the Customer is
Offered to review the current version of this Contract available
On the Company’s Website in English language. If the Customer
Agrees with the terms and conditions of the Contract, the
Customer confirms his/her agreement by marking the relevant
“check-box” or clicking on “AGREE” button and proceeds with
The registration. In case the Customer does not accept the
Terms and conditions of this Contract, the Customer leaves the
“check-box” empty or clicks on “DISAGREE” button, it means
That contractual relationship is not started between the
Company and the Customer.
4.1.7. The Company has the right to refuse to register the new Customer without indicating the reasons, however, the
Company assures that the refusal to register will always be
Based on significant reasons which the Company does not have
To or does not have the right to reveal.
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4.2. Once the documents and information provided by the Customer is
Checked by the Company and there is no basis which may allow to
Refuse to provide Service in accordance with applicable laws, the
Customer is entitled to start to use the Services provided by the
Company and the Customer’s Account.
4.3. The Customer is entitled to open one account unless the Company
Explicitly approves the opening of additional accounts.
5. PROVISION OF THE SERVICES
5.1. Authentication data and information to be provided in Payment order
5.1.1. Authentication data for accessing the Customer’s Account are
Set by the Customer.
Authentication data shall refer to:
5.1.1.1. Login name and password. Login name is the
Combination of the number provided to the Customer after
Registration process is finished and the Company issued
The confirmation that the Customer is able to use the
Services. Password – a static alphanumeric string
Exclusively and personally determined by the Customer.
The Company shall not have access to the password, nor
Shall request it from the Customer at any time.
5.1.1.2. Special code which the Customer will receive to his/her
Mobile phone after initiating the Payment transaction. The
Customer shall confirm the special code received to his/her mobile by Citizen Money Framework Contract.
5.1.2 Entering the password. The Payment transaction shall not be
Executed without entering the special code.
5.1.3. The maximum time without activity by the Customer after being
Authenticated for accessing its Account online shall not exceed
5 minutes. After 5 minutes, the session is over and the
Customer has to login again. If the authentication data are
Incorrectly entered three times, the Company shall be entitled to
Block these authentication data. The Customer shall be alerted
Before the block is made permanent. In case of blocking
Customer’s Account in accordance with incorrectly entered
Authentication data, the Customer shall apply to the Company
And make the verification again. Only after the successful
Verification, the Customer shall be entitled to receive new
Authentication data on request.
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5.1.4. Unique identifier shall be provided by the Customer in order for
A Payment order to be properly initiated or executed. The
Company shall credit the funds to and debit them from the
Account according to the Unique Identifier specified in the
Payment order received by the Company.
5.1.5. The Company is not liable if the Unique identifier is not
Provided in the Payment order and/or it is incorrectly entered by
The Customer. However, the Company shall make reasonable
Efforts to recover the funds involved in the Payment transaction.
5.1.6. The Customer is informed and agrees that the Company has
The right to request additional and/or other mandatory
Information (for example amount and currency, Payee’s name,
Surname/name of the legal entity/ code of the payment) which
Must be submitted to the Company in order execute properly
The Payment order.
5.2. The terms of and procedure for giving consent to initiate a Payment
Order or execute a Payment transaction.
5.2.1. The Payment transaction is considered to be authorized only
When the Customer expresses its consent for the execution of
Payment transaction.
5.2.2. The consent shall be provided to the Company in the form and
Manner agreed by the Parties. In case the consent is provided
In written, it shall be signed properly by both Parties. The
Consent may be authorized by using the authentication data –
For example, the security code given to the Customer by and
Login details during the time of the creation of the Account. The
Consent may be expressed by other form and manner needed
For the specific Services and/or indicated in the additional
Agreement between the Parties.
5.2.3. The Consent of the Customer (Payer) shall be submitted prior
To the execution of the Payment transaction.
5.2.4. In the case of a direct debit, the Customer’s (Payer’s) consent
Must be given to the Company and in the cases established by
The Company such Consent may be given to the Payee or to
The Payee’s payment service provider.
5.2.5. The procedure of revocation of the Payment order:
5.2.5.1. Consent may be withdrawn by the Payer at any time,
But no later than at the moment of irrevocability in
Accordance with the Clauses 5.2.5.2-5.2.5.5 of this
Contract. Consent to execute a series of payment
Transactions may also be withdrawn, in which case any
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Future Payment transaction shall be considered to be
Unauthorised.
5.2.5.2. The Customer shall not revoke a Payment order once it
Has been received by the Company, except for cases
Provided in this Contract.
5.2.5.3. Where the Payment transactions is initiated by or
Through the Payee, the Payer shall not revoke the
Payment order after giving consent to execute the
Payment transaction to the Payee.
5.2.5.4. In the case provided for in the Clause 5.3.6 of this
Contract, the Customer may revoke the Payment order at
The latest by the end of the Business day preceding the
Agreed day.
5.2.5.5. Upon expiry of the time limits laid down in the Clauses
5.2.5.2-5.2.5.4 of this Contract, the Payment order may be
Revoked only in case the Customer (Payer) and the
Company agree on this, and in the cases provided in the
Clause 5.2.5.3 of this Contract, the consent of the Payee
Is required.
5.2.6. The Clause 5.2.5 of these Ts&Cs is applicable only in case the
Customer is a Consumer.
5.3. Moment of receipt of the Payment order, requirements applied to the
Payment order and refusal to execute the Payment order.
5.3.1. The Customer shall ensure that in Customer’s Account is
Enough funds necessary for the execution of the Customer’s
Instructions. If the Customer does not have sufficient funds at
The moment when the Customer’s instruction is presented, the
Company has the right to refuse to execute the Customer’s
Instruction, unless otherwise agreed by the Parties.
5.3.2. The Company shall process Payment orders given by the
Customer without undue delay, provided that at the moment of
Maturity there are enough funds on the Customer’s Account,
From which the payment is to be debited.
5.3.3. In case where the Customer is the Payer, the Payment order is
Considered received by the Company on the day of its
Reception, or, if the moment of reception of the Payment order is
Not the Business day of the Company, the Payment order is
Considered received on the next business day of the Company.
5.3.4. The Payment order that was received by the Company on the
Business day of the Company, but not on business hours set by
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The Company, is considered received on the next business day
Of the Company.
5.3.5. Funds from the Payer’s Account shall not be debited before the
Payment order is received by the Company.
5.3.6. If the Customer initiating a Payment order and the Company
Agree that execution of the Payment order shall start on a
Specific day or at the end of a certain period or on the day on
Which the Payer has put funds at the Company’s disposal, the
Time of receipt is deemed to be the agreed day. If the agreed
Day is not a Business day for the Company, the Payment order
Received shall be deemed to have been received on the
Following Business day.
5.3.7. Payment orders inside the system of the Company are
Executed, unless the Payment transaction is suspended due to
Cases set forth by legal acts and this Contract), regardless of
Business hours of the Company.
5.3.8. The Company has the right to record and store any Payment
Orders submitted by any of the means agreed on with the
Company, and to record and store information about all
Payment transactions performed by the Customer or according
To Payment orders of the Customer. Records mentioned above
May be submitted by the Company to the Customer and/or
Third party, who have the right to receive such data under the
Basis set forth in the applicable laws, as evidence confirming
The submission of Payment orders and/or executed Payment
Transactions.
5.3.9. The Company has the right to refuse to execute a Payment
Order in case of a reasonable doubt that the Payment order has
Been submitted by the Customer or an authorized
Representative of the Customer, Payment order or the submitted
Documents are legitimate. In such cases, the Company has the
Right to demand from the Customer to additionally confirm the
Submitted Payment order and/or submit documents confirming
The rights of persons to manage the funds held on the Account
Or other documents indicated by the Company in a way
Acceptable to the Company at expense of the Customer. The
Company is not liable for the losses which may arise due to
Refusal to execute the submitted Payment order due to the
Reason of the refusal to provide additional information or
Documents by the Customer.
5.3.10. The Customer is informed and agrees that the Company has
The right to involve Third parties to partially or fully execute the
Payment order of the Customer if the Customer’s interests and/
Or the essence of the Payment order requires so. In the event
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That the essence of the Payment order of the Customer requires
Sending and executing the Payment transaction further by
Another financial institution, but this institution suspends the
Payment order, the Company is not liable for such actions of
That financial institution, but makes attempts to find out the
Reasons for the suspension of the Payment order.
5.3.11. The Company has the right to suspend and/or terminate the
Execution of the Payment order of the Customer, if required by
Applicable laws or in case it is necessary for other reasons
Beyond control of the Company.
5.3.12. In case the Company has refused to execute Payment order
Submitted by the Customer, the Company shall immediately,
Without undue delay, inform the Customer thereon about the
Reasons for it and the procedure for correcting any factual
Mistakes that led to the refusal, except when such notification is
Technically impossible or forbidden by legal acts.
5.3.13. The Company shall not accept and execute Payment orders
Of the Customer to perform operations on the Account of the
Customer if funds on the Account are arrested, the right of the
Customer to manage the funds is otherwise legally limited, or in
Case operations are suspended by applicable laws, except for
Case indicated in the Clause 5.3.14 below.
5.3.14. Where the applicable laws provide that enforced recovery
Cannot be applied to a fixed amount of funds in the Consumer’s
Account, the Company shall ensure that the Consumer has
Access to those funds.
5.3.15. If money transferred by the Payment order is returned due to
Reasons beyond the control of the Company (inaccurate data of
The Payment order, the account of the Payee is closed, etc.),
The returned amount is credited to the Account of the Customer.
Commission fees paid by the Payer for the Payment order
Execution are not returned.
5.3.16. Payment orders initiated by the Customer may be standard
And urgent. The manner of the Payment order is selected by the
Customer. If the Customer does not select the Payment order
Manner, it is considered that the Customer has initiated a
Standard Payment order.
5.4. The terms of the execution of the Services
5.4.1. The time limits of the execution of Payment transactions to
Payment accounts and the duration of execution of other
Services are specified in present Contract, additional
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Agreements between the Parties or other documents (e.g.,
Requests, applications, questionnaires).
5.4.2. When the Payment operation shall be executed in EUR or
Other currencies in the State and the Customer is the Payer, the
Company ensures that the amount of the Payment operation is
Credited to the account of the payment service provider of the
Payee until the end of the nearest business day, except the
Exceptions foreseen in the Clause 5.4.3.
5.4.3. Where payment transfers in Switzerland are made in EUR, the
Payer’s payment service provider shall ensure that after the
Payment order is received, the amount of the Payment
Transaction is credited to the Payee’s payment service
Provider’s account on the same Business day if the Payment
Order is received on that business day by 12 noon. If the
Payment order is received after 12 noon, the Payer’s payment
Service provider shall ensure that the amount of the Payment
Transaction is credited to the Payee’s payment service provider
Account no later than the following Business day. Parties can
Agree, that the Payment order shall be executed on specific day
Or at the end of certain period or at the day when the Payer
Provides amount to its payment service provider. In such case
The payment service provider of the Payer shall ensure that the
Amount of the Payment transaction is credited to the Payee’s
Payment service provider’s account on the day of the execution
Of the Payment order, and on the next Business day when the
Payment order is not executed by the payment service provider.
5.4.4. When the Payment operation shall be executed in the
Currencies of non-EUR area States in Switzerland and to other
States and the Customer is the Payer, the Company ensures
That the amount of the Payment operation is credited to the
Account of the payment service provider of the Payee until the
End of the nearest Business day but not later than within 4
(four) Business days after receipt of the Payment order by the
Company.
5.5. Spending limits for the Payment transactions
5.5.1. This Contract or other documents (e.g. requests, applications,
Questionnaires) may establish a maximum spending limits for
Payment transactions.
5.6. Blocking the Account and/or suspension of the Services to the
Customer
5.6.1. The Customer shall co-operate with the Company to
Investigate any suspected illegal, fraudulent or improper activity.
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5.6.2. The Company is entitled to block the funds collected on the
Customer’s Account as follows:
5.6.2.1. The Company has a suspicion that the funds collected
On the Customer’s Account are intended for the
Commitment of a crime, resulted from the crime or
Participation thereon.
5.6.2.2. if there is a suspicion that an unauthorized payment
Transaction was carried out through the Customer’s
Account.
5.6.2.3. the Customer is in delay in discharging its obligations
Under this Contract.
5.6.2.3. bankruptcy is declared in respect of the Customer’s
Assets, restructuring is initiated, the bankruptcy petition is
Cancelled owing to the lack of funds for the remuneration
Of the trustee in bankruptcy, the Customer enters into
Liquidation, or the risk of insolvency on the Customer’s side
Excessively increases within a short period.
5.6.2.4. for the purposes of corrective accounting and
Settlement.
5.6.2.5. the Customer is using the Company Services and
Fraudulent acts have been proved on the Customer’s side
Or criminal proceedings are initiated against the Customer
Or its employees in the matter of fraudulent acts; or if
Actions of the Customer fail to comply with the rules of the
Company banking partners and such conduct may cause
The Company a damage.
5.6.3. The Company reserves the right to suspend, at any time and
At its sole discretion, the Customer Account (or certain
Functionalities thereof such as uploading, receiving, sending,
And/or withdrawing funds), inter alia, for audit:
5.6.3.1. where the Company believes it is necessary or
Desirable to protect the security of the Customer account;
Or
5.6.3.2. if any transactions are made which the Company in its
Sole discretion deems to be:
(a) Made in breach of this Agreement or in breach of the
Security requirements of the Customer Account; or
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(b) Suspicious, unauthorized, or fraudulent, including
Without limitation in relation to money laundering,
Terrorism financing, fraud, or other illegal activities; or
5.6.3.3. upon the insolvency, liquidation, winding up,
Bankruptcy, administration, receivership, or dissolution of
The Customer, or where the Company reasonably
Considers that there is a threat of the same in relation to
The Customer; or
5.6.3.4. where anything occurs which in the opinion of the
Company suggests that the Customer shall be unable to
Provide the Customer’s products/services and/or
Otherwise fulfill the contacts that it has with its Customers;
Or
5.6.3.5. if the transactions are for the sale of goods and/or
Services which fall outside of the agreed business
Activities of the Customer, or where the Customer
Presents a transaction and fails to deliver the relevant
Goods and/or services.
5.6.4. The Company will make reasonable efforts to inform the
Customer of any such suspension in advance, or if this is not
Practicable, immediately afterwards and give its reasons for
Such suspension unless informing the Customer would
Compromise security measures or is otherwise prohibited by law
Or regulatory requirements.
5.6.5. In addition, the Company reserves the right (at its sole
Discretion) to suspend the Customer Account (or certain
Functionalities thereof such as uploading, receiving, sending,
And/or withdrawing funds) at any time where it is required to do
So under relevant and applicable laws and regulations. The
Company will make reasonable efforts to inform the Customer
Of any such suspension unless the Company is prohibited from
Doing so by law or under an order from a competent court or
Authority.
5.7. Information provided to the Customer about the Payment transactions
5.7.1. The Company is obligated to provide the information to the
Customer (before the execution of Payment order) about the
Possible maximum terms of the execution of certain Payment
Order, the payable Commission fees and how this Commission
Fees are split up.
5.7.2. The Company shall provide the Statement to the Customer
About the provided Payment transactions, which shows as
Follows:
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5.7.2.1. information enabling the Payer to identify each
Payment transaction and information relating to the
Payee.
5.7.2.2. the amount of the Payment transaction in the currency
Indicated in the Payment order.
5.7.2.3. the Commission fees payable for the Payment
Transactions and how the Commission fees are split up.
5.7.2.4. the applicable currency exchange rate and the amount
Of Payment transaction after the currency exchange rate, if
During the execution of Payment transaction, the currency
Was exchanged;
5.7.2.5. the date of write down of funds from the Account.
5.7.2.6. the date of incomes to the Account.
5.7.2.7. other information which shall be provided to the
Customer in accordance with the applicable laws of
Switzerland.
5.7.3. The Statement is provided through the Account of the
Customer.
5.7.4. The Company is obligated to inform the Customer about the
Suspected or executed fraud by other persons or the threats for
The security of Services by sending a message within the
Personal Account of the Customer and by choosing one
Additional option from the following – by e-mail, by telephone or
Other method which is safe and the most suitable to the
Particular situation at that time.
6. COMMISION FEES PAYBALE FOR THE SERVICES PROVIDED BY THE
6.1. The Company shall charge fees related to its standard Services in
Accordance with this Contract and the fees list which is attached to
This Contract and shall be considered as an inseparable part of this
Contract. The fees are published in https://www.citizenmoney.com/pricing.
The Company shall charge individual fees to the Customer for nonstandards Services
not defined herein and/or in the price list and the
Customer shall be informed thereon before using such services.
6.2. Unless otherwise indicated, fees are quoted in EUR.
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6.3. For the Payment services and/or related services performed by the
Company, the Customer shall pay the Commission fee to the
Company. The Commission fee is indicated in the fees list and/or the
Additional agreement with the Customer. In case the Customer fails
To fulfill its obligation to pay the Commission fee to the Company, the
Customer shall pay to the Company penalties (the fines or default
Interest) set forth in the fees list.
6.4. Any Commission fees payable by the Customer shall be deducted
From the Customer account balance. If the Customer account
Balance is insufficient, or the Customer account balance becomes
Negative, the Company reserves the right to invoice the Customer for
Any shortfall.
6.5. Where the Company has no possibility to deduct any Commission fee
Payable by the Customer for the provided Services from the balance
Of the Customer Account the Company shall issue the separate
Invoice for the amount owed. Invoices are payable within 10 (ten)
Days of the date of the invoice. In case of overdue payments, the
Company reserves the right to charge default interest in the amount
Of 0,02 % and/or terminate this Contract with immediate effect by
Giving written notice to the Customer.
6.6. In case during the performance of the Payment transaction there are
Not enough funds for execution of Payment transaction and payment
Of Commission fee in the Account of the Customer, the Company
Shall have the right to refuse to execute the Payment transaction.
6.7. Foreign currency exchange rates are provided to the Customer before
The Payment order is placed.
6.8. Currency exchange is based on the exchange rate of the Company,
Which is valid at the moment of conversion and is constantly updated
And published on the Website.
6.9. The Company applies the changed basic exchange rate of currency
Immediately without a separate notice. The Company informs the
Customer about such changes in a manner described in this
Contract.
6.10. In case the currency of a Payment order to execute the Payment
Transaction is different from the currency in which the Account is
Debited, the conversion of such currencies shall be performed in
Accordance with the procedure established by the Company
Published on the Website.
6.11. If the Customer is a Consumer, at the beginning of each calendar
Year the Company will provide the Consumer with a Statement of
Commission fees related to Customer’s Account. Statement of
Commission fees will be provided in Customer’s Account free of
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Charge. In case of termination of this Contract, Statement of
Commission fees shall be provided for a period from the beginning of
Current calendar year until the day of termination of this Contract.
7. COMMUNICATION BETWEEN THE CUSTOMER AND COMPANY
7.1. The person who becomes the Customer of the Company confirms that
The Customer accepts that all communication, including the personal
Communication between the Company and the Customer, shall be in
English. All communication, information about any changes to the
Services and the Prices, other important information shall be
Provided in English, unless the Parties agree otherwise by signing
Additional amendment to this Contract.
7.2. The information shall be provided to the Customer personally or by
Announcing it publicly:
7.2.1. the information may be provided personally to the Customer
Through the Account of the Customer, sent by post to the
Address of the Customer registration address, via e-mail
Indicated during the process of application of the opening the
Account, by call or SMS using telephone number indicated
During the process of application of the opening the Account
And other telecommunication instruments, including electronic
Means.
7.2.2. the information may be published on the Website of the
Company.
7.3. The Customer acknowledges that any communication between the
Company and the Customer shall take place personally and primarily
Through the Account of the Customer and e-mail indicated during the
Process of application of the opening the Account. Disclosure of any
Information by the Company through the Account of the Customer
And via the e-mail means that the relevant information is duly
Delivered to the Customer and is effective.
7.4. The Customer acknowledges that communication through the Account Of the Customer may be done only if the Customer enters into its
Personal Account by using its login details and other requested
Personalized security data provided by the Company to the Customer
Due to the purpose of the Customer’s authentication in accordance
With the Clause 5.1 of this Contract.
7.5. E-mail communication is possible to addresses that are given on the
Website of the Company and the e-mail addresses given by the
Customer during the registration session to the Company system. EFramework contract
Citizen Money Page 16 of 30
Mail message is considered to be duly delivered on the following
Business Day.
7.6. In case of communication by telephone, the Customer shall be
Verified on the basis of the Customer’s data. Phone communication
Between the Company and the Customer is possible at times
Published on the website of the Company. The message given to the
Customer through telephone is considered to be duly delivered at the
Moment of the conversation with the Customer.
7.7. In case of communication through the post, letters are delivered to the
Other party’s address. The letter is considered to be duly delivered on
The third day after the delivery of the notice informing that the letter
Cannot be delivered to the other party or that the letter was rejected
Or was not collected by the other party within the collection period,
Even if the addressee has no knowledge of the letter.
7.8. The information announced on the website, Customer`s account as
Well as published publicly is considered to be duly delivered on the
Day of the announcing/ publishing such information.
7.9. The Customer agrees that the Company may record, with prior notice,
Any ongoing communication between the Company and the
Customer using any available technical means, and will archive all
The records, as well as the copies of any information and documents
That the Company will receive from the Customer and Third parties.
The Customer agrees that the Company may at any time use this
Information for the purposes stated in this Contract or for ensuring
Compliance with this Contract.
7.10. The Customer is entitled to get the information about this Contract as
Well as the Contract as itself in paper version or any other durable
Medium, in which the Company is able to provide such information.
7.11. If the Customer would like to contact the Company about a concern
Relating to this Contract, the Customer may contact the Company via
In-app support or email support@citizenmoney.com. The Company will
Try to resolve any issues the Customers may have about their
Account or the Services. The Company shall provide the answer
Within 15 (fifteen) Business Days of receiving Customer`s concern
Unless the concern is of a “simple” nature and can be resolved with 1
(one) Business Day from the receipt day. The Company shall inform
The Customer if exceptional circumstances arise, in which case it
May take up to 35 (thirty-five) Business Days to address Customer`s
Concern.
7.12. The parties shall inform each other without undue delay of any
Changes to their contact information. Upon the request of the
Company, the Customer shall provide the relevant documents proved
That the contact information is changed. The failure to fulfill these
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Obligations means that the notice sent on the basis of the latest
Contact information provided to the other Party is duly delivered and
Any obligation fulfilled in accordance with such contact information is
Executed properly. The Customer acknowledge that the Company
Has the right to inform about the change of its contact information by
Way of publicly announcement and/or by sending such information
Via e-mail indicated during the process of application of the opening
The Account.
7.13. In order to protect the Customer`s funds from the possible unlawful
Acts of Third parties, the Customer shall immediately notify via e-mail
Indicated during the process of application of the opening the
Account in writing of the theft of his/her identity document theft or
Loss in another way.
7.14. The Parties must promptly inform each other of any circumstances
Relevant to the proper performance of this Contract. Upon the request
Of via e-mail indicated during the process of application of the
Opening the Account, the Customer is obliged to provide the such
Circumstances (for example, a change of the sample signature of the
Customer or the Customer`s representative, the initiation and settingup of the
Customer`s bankruptcy, the Customer`s liquidation,
Reorganization, conversion, etc.) regardless of whether this
Information has been provided to the public registers or not.
8. AMENDMENTS AND CHANGES OF FEES, TERMS OF THE CONTRACT, TERMS OF SERVICES
8.1. This Contract is subject to be changed from time to time.
8.2. The Company has the right to change this Contract, applicable prices
And Commission fees and/or the terms of Services by offering the
Changed Contract to the Customer personally in paper or other
Durable medium (through the Customer’s Account and additionally
Informing the Customer by electronically messages (email, short
Message service (SMS), etc.) sent to the Customer) at least 15
(fifteen) calendar days before such changes will entry into force.
8.3. The Customer has the right to accept the proposed changes or reject
Them.
8.4. If no objection notice is received by the Company within the stipulated
Time frame in the Clause 8.2, the Customer is deemed to have
Accepted the changes and such changes come into force on the date
Of entry into force. If the Customer agrees with the changes to this
Contract, applicable Prices and Commission fees and/or the terms of
Services, then the Customer is not entitled subsequently to submit to
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The Company Customer’s objection and/or claims regarding the
Content of such changes.
8.5. The Customer has the right to terminate this Contract immediately at
Any time and without charges after receiving the information about
Changes and before any changes stipulated in provided information
Becomes effective. If the Customer does not use his right to
Terminate this Contract until the day when such changes come into
Force, the Customer shall be deemed as accepted the changes to
This Contract.
8.6. The termination of this Contract in accordance with the Clause 8.5
Shall not release the Customer from its obligations to the Company
Arising prior to the date of termination of this Contract to be properly
Executed.
9. SECURITY AND CORRECTIVE MEASURES
9.1. The Customer is responsible for the safety of devices used to log in to
The Account, shall not leave them unattended, in public places or
Otherwise easily accessible to third persons.
9.2. It is recommended to update software, applications, anti-virus
Programs, browsers, and other programs in time.
9.3. It is recommended to protect devices with passwords, PIN codes or
Other safety instruments.
9.4. It is recommended to evaluate received emails with cautiousness,
Even if the Company is indicated as the sender. The Company will
Never request the Customer to download attachments or install
Software. Attachments to fraud e-mails may contain viruses which
Can harm devices or pose a risk to the safety of the Customer
Account.
9.5. It is recommended not to click on unknown links, open unknown
Documents, install software or application from unknown, unreliable
Sources or visit unsafe websites.
9.6. As soon as the Customer is aware of the loss, theft, misappropriation
Or fraudulent use of a payment instrument, the Customer must
Immediately notify the Company or any other entity designated by it.
The notification shall be submitted to the Company through the
Customer’s Account and by sending an e-mail or by making a phone
Call to the Company at the same time.
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9.7. If the Customer notices any suspicious activity on his account and
Thinks that third persons may have logged in to system for the using
Of the Services, the Customer shall:
9.7.1. immediately inform the Company thereof at any time and in a
Manner indicated in the Section 8 of this Contract and request
To block the Customer’s account.
9.7.2. in order to continue to use the account, the Customer shall
Change the password, use other additional account confirmation
Instruments, or use safer instruments and delete unsafe Additional login confirmation instruments.
9.8. Blocking the Account and the Payment instrument, if the latter has
Been given to the Customer
9.8.1. In addition to the Clauses 5.6, the Company has the right to
Block the Account (to stop the execution of the Payment
Transaction at all or partly) and/or the payment instrument if
Such instrument has been given to the Customer in such cases
As follows:
9.8.1.1. in case of the objectively justified reasons related to the
Security of the funds and/or the payment instrument in the
Account, the alleged unauthorized or fraudulent use of the
Funds and/or the Payment instrument in the Account.
9.8.1.2. in case if the Customer does not follow with the terms
Of the present Contract.
9.8.1.3. in case if the Company has the reasonable suspicions
That funds in the Account may be used by the other
Persons for the unlawful actions, including but not limited
To the commission of criminal activities.
9.8.1.4. in case of other basis and/or the cases indicated in the
Additional agreements signed between the Parties.
9.9. The notices provided by the Customer regarding the unauthorized or
Improperly executed Payment operations
9.9.1. The Customer is obligated to check the information about
Executed Payment transactions at least once a month, so that
The Customer could notice any unauthorized or improperly
Executed Payment transactions and notify the Company in a
Timely manner.
9.9.2. The Customer is obligated to inform the Company in writing About the unauthorized or improperly executed Payment
Transactions, including the noticed mistakes, inaccuracies in the
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Extract immediately from the acknowledgement of such
Circumstances and in any case not later than 13 (thirteen)
Months from the debit date.
9.9.3. In case if the Customer does not notify the Company about the
Circumstances described in the Clause 10.9.2 of this Contract
Within the terms specified in the same Clause 9.9.2 and the
Additional agreements between the Parties then it shall be
Considered that the Customer unconditionally confirmed the
Payment transactions executed in the Account of the Customer.
9.10. The liability of the Customer for unauthorized Payments transactions
And the liability of the Company for the unauthorized Payment
Transactions
9.10.1. In case the Customer is the Consumer and he denies the
Authorization of the executed Payment transaction or declares
That the Payment transaction was executed improperly, the
Company is obligated to prove that the Payment transaction
Was authorized, it has been properly registered, entered in the
Accounts and was not affected by technical disturbances or
Other deficiencies in the Services provided by the Company.
9.10.2. In case if the Customer is the legal entity, the using of the
Identity verification measures and login data of the Account is
The right prove, that the Customer authorized the Payment
Transaction or was acting fraudulently and due the intentionally
Or due to the gross negligence did not fulfill the obligations set
Forth in the points 9.1-9.6 of this Contract.
9.10.3. In accordance to the terms indicated in the Clause 9.9.2 of
This Contract or having determined that the Payment transaction
Was not authorized by the Customer, the Company without
Undue delay, but no later than by the end of the next Business
Day, returns the amount of the unauthorized Payment
Transaction to the Customer and, where applicable, – restores
The balance of the Account from which this amount was written
Down and which would have existed if the unauthorized
Payment transaction had not been executed, unless the
Company has reasonable suspicion of the fraud and informs
About such suspicion Office of Police in accordance with the
Rules of such notice.
9.10.4. If the Customer is the Consumer, the Customer bears that
Have arisen due to unauthorized Payment transactions for the
Amount of up to 50 (fifty) EUR, if these loses have been
Incurred due to:
9.10.4.1. usage of a lost or stolen Payment instrument.
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9.10.4.2. misappropriation of a Payment instrument.
9.10.5. The Clause 9.10.4 of this Contract shall not be applied if:
9.10.5.1. the loss, theft or misappropriation of a Payment instrument
Was not detectable to the Payer prior to a payment, except
Where the Payer has acted fraudulently as defined in the
Clause 9.10.7 of this Contract; or
9.10.5.2. the loss was caused by acts or lack of action of an
Employee, agent or branch of the Company or of an entity to
Which its activities were outsourced.
9.10.6. The Payer shall not bear any financial consequences
Resulting from use of a lost, stolen or misappropriated Payment
Instrument after a notification has been made in accordance
With the Clause 9.6 of this Contract, except where the Payer
Has acted fraudulently.
9.10.7. The Payer shall bear all of the losses relating to any
Unauthorized payment transactions if they were incurred by the
Payer acting fraudulently or failing to fulfill one or more of the
Obligations set out in the point 9.1-9.6 of this Contract and
Additional agreements signed between the Parties with intent or
Gross negligence. In such cases, the maximum amount referred
To in the point 9.10.4 of this Contract shall not apply. In case of
Possible fraud made by the Customer, the Company informs
About such suspicion the VQF SRO and/or the Federal Office of
Police in accordance with the rules of such notice.
9.10.8. If the Customer is not the Consumer, the Customer shall bear
All losses for the reasons specified in the Clause 9.10.4 of this
Contract, except as otherwise provided in this Contract and/or
The additional agreements signed between the Parties.
9.10.9. The Account may be blocked by the Customer’s initiative and/
Or the Account (including the payment instrument if such is
Given to the Customer) may be blocked if the Customer submits
A respective request to the Company. The Company has the
Right to demand that the request submitted by the Customer’s
Oral request to block the Account (including the payment
Instrument if such is given to the Customer) be subsequently
Approved in writing or in another manner acceptable to the
Company.
9.10.10. If the Company has the reasonable doubts that the request Indicated in the Clause 9.10.9 of this Contract is not submitted
By the Customer, the Company has the right to refuse to block
The Account (including the payment instrument if such is given
To the Customer). In such cases, the Company shall not be
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Liable for any losses that may result from the failure to comply
With the said request.
9.10.11. Other terms of the liability of the Parties for the unauthorized
Payment transactions may be indicated in the additional
Agreements between the Parties.
9.11. Liability of the Company for proper execution of Payment transaction.
9.11.1. If the Customer initiating the Payment order executes a
Payment order by identifying a Unique Identifier, such Payment
Order shall be deemed to be executed properly if it was
Executed according to the specified Unique Identifier. The
Company has the right, but it is not obliged to check whether
The Unique Identifier presented in the Payment order received
By the Company corresponds with the account holder’s
Forename and surname (name).
9.11.2. If the Unique Identifier is presented to the Company with the
Account to be credited or debited from the Account, the
Payment order is deemed to be executed properly if it has been
Executed according to the specified Unique Identifier. If the
Company carries out the said inspection (for example, due to
The prevention of money laundering risk) and find out clear
Mismatch between the Unique Identifier submitted to the
Company and the account holder’s name, the Company shall
Have the right not to execute such Payment order.9.11.3. If the Customer (Payer) initiates properly the Payment order
And the Payment transaction is not executed or executed
Improperly, the Company, at the request of such Customer,
Shall immediately and without charge take measures to trace
The Payment transaction and to inform the Customer about
Results of the search.
9.11.4. The Company is liable for the properly initiated Payment order
With the terms set forth by this Contract and/or additional
Agreements signed between the Parties.
9.11.5. The Company is liable for applying the Commission fees or
Giving back already paid theCommission fee in case the
Payment order was not executed or executed improperly due to
The fault of the Company.
9.11.6. The Company is not liable for the indirect losses incurred by
The Customer and related to the not executed Payment order or
Improperly executed Payment order. The Company is liable only
For the direct losses of the Customer.
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9.11.7. The Company is not liable for claims raised between the
Payee and Payer and such claims are not reviewed by the
Company. The Customer may submit the claim to the Company
Only regarding the non-performance or improperly performance
Of the obligations of the Company.
9.11.8. Limitations of liability of the Company are not be applied if
Such limitations are prohibited by the applicable laws.
9.12. Conditions of refunding to the Payer the amounts of Payment
Transactions initiated by or through the Payee
9.12.1. The Customer (Payer) shall have the right to recover from the
Company the full amount of the authorized and already
Executed Payment transaction initiated by or through the Payee
Provided that both of the following conditions are met:
9.12.1.1. when authorizing the Payment transaction its precise
Amount is not specified;
9.12.1.2. the Payment transaction amount exceeds the amount
Which could have been reasonably expected by the
Customer (Payer) considering his previous expenditure,
Terms and conditions of the contract and other
Circumstances, except for the circumstances relating to
The exchange of currency, when upon executing the
Payment transaction the currency exchange agreed
Between the Customer (Payer) and the Company was
Applied. If, upon giving his consent to execute the
Payment transaction, the Customer (Payer) indicates the
Maximum permissible amount of such Payment
Transactions (one Payment transaction or several such
Payment transactions executed over a certain period), it
Shall be considered that such particular maximum amount
Of the Payment transactions could have been reasonably
Expected by the Customer (Payer).
9.12.2. At the request of the Company, the Customer (Payer) must
Immediately provide information about the existence of the
Conditions specified in items 9.12.1.1-9.12.1.2 above.
9.12.3. The Customer (Payer) shall not be entitled to the refund of
Amounts of Payment transactions initiated by or through the
Payee under the Clause 9.12.1 of this Contract, if the Customer
(Payer) has given consent directly to the Company and the
Company or the Payee has furnished the Customer (Payer) in
The agreed manner with the information about the future
Payment transaction or created conditions to get familiarized
With it at least 4 (four) weeks before the planned execution of
The Payment transaction.
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9.12.4. The Customer (Payer) shall have the right to ask the
Company to refund the amount of the Payment transaction
Initiated by or through the Payee within 8 (eight) weeks of the
Day on which the funds were debited from the Account.
9.12.5. Upon receipt of the request of the Customer (Payer) to refund
The Payment transaction amount, the Company shall refund the
Full amount within 10 (ten) Business Days of the Company or
Shall state the reasons for its refusal to refund such amount and
The procedure of appealing against the refusal. If the Payment
Transaction amount is refunded to the Payer the Commissions
Paid to the Company and related with the execution of such
Payment transaction shall not be refunded.
9.12.6. Conditions of refunding to the Payer the amounts of Payment
Transactions initiated by or through the Payee as stated in the
Clauses 9.12.1-9.12.5 of this Contract will be applied only in
Case the Customer is a Consumer.
9.13. Force Majeure
9.13.1. The Company and the Customer shall not be held liable for
The default on, or inadequate discharge of, or for any failure to
Comply with this Contract, the obligations if such default or
Inadequate discharge was caused by force majeure (e.g. acts
Of God, war, warlike conditions blockade, embargoes, riots,
Governmental restriction, labour disturbances, wrecks,
Epidemics, quarantine, fire, flood, earthquake, explosion, any
Unforeseen change in circumstances, or any other causes
Beyond its reasonable control).
9.13.2. The Customer shall notify the Company about force majeure
On the Company’s system, via email or in writing within 10 (ten)
Calendar days after the day of occurrence of such
Circumstances.
9.13.3. The Company shall notify the Customer about force majeure
Circumstances on the Company’s system and via email.
9.14. Incorrect Payment transactions
9.14.1. The Customer who notices that the funds, that do not belong
To the Customer, have been transferred to its Account must
Immediately notify the Company to the effect. In such cases the
Customer, as unauthorized beneficiary of transferred funds of
The Payment transaction, shall be deprived of the right to
Dispose of the transferred funds and must forthwith remit such
Funds to an account designated by the Company.
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9.14.2. The Company shall have the right to debit the amounts
Incorrectly credited to the Account through its own fault without
A separate consent of the Customer, as unauthorized
Beneficiary of transferred funds of the Payment transaction and
Remit such funds to their due beneficiary.
9.14.3. If funds available in the Account are already insufficient for
The debit of incorrectly credited funds the Customer must repay
The respective amount of funds to the account designated by
The Company within 3 (three) Business Days of the Company’s
Request.
10. CONFIDENTIALITY AND PERSONAL DATA
10.1. During the term of this Contract and thereafter, each party shall use
And reproduce the other party’s Confidential Information only for
Purposes of this Agreement and only to the extent necessary for such
Purpose and will restrict disclosure of the other party’s Confidential
Information to its employees, consultants, advisors or independent
Contractors with a need to know and will not disclose the other party’s
Confidential Information to any third party without the prior written
Approval of the other party.
10.2. Notwithstanding the foregoing, it will not be a breach of this Contract
For either Party to disclose Confidential Information of the other Party
If required to do so under law or in a judicial or governmental
Investigation or proceeding.
10.3. The confidentiality obligations shall not apply to information that:
10.3.1. is or becomes public knowledge through no action or fault of
The other Party;
10.3.2. is known to either Party without restriction, prior to receipt
From the other Party under this Contract, from its own
Independent sources as evidenced by such party’s written
Records, and which was not acquired, directly or indirectly, from
The other Party.
10.3.3. either Party receives from any Third party reasonably known
By such receiving party to have a legal right to transmit such
Information, and not under any obligation to keep such
Information confidential; or
10.3.4. information independently developed by either Party’s
Employees or agents provided that either Party can show that
Those same employees or agents had no access to the
Confidential Information received hereunder.
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10.3.5. The Customer agrees for the Company to manage his/her
Personal data with an aim to provide Services to the Customer
And execute other responsibilities under the present Contract.
The Company guarantees security of personal data received
While executing the present Agreement. Personal data is used
To the extent necessary to execute the present Contract. The
Above-mentioned personal data cannot be disclosed to Third
Parties without a consent from the subject of this data, except
For cases stated by the applicable law or the present Contract.
10.4. The main principles of processing of personal data, storage period
And other issues are specified in the Company’s privacy policy, which
Is available on the website of the Company. The Customer
Acknowledges that he/ she has read the privacy policy of the
Company and it will comply with all of the terms and conditions
Provided in this policy.
11. TERM AND TERMINATION
11.1. Unless otherwise agreed in writing, this Contract has been made for
An indefinite period of time.
11.2. The Customer may at any time terminate this Contract by notifying
The Company at least 30 (thirty) days prior to the date of termination.
11.3. The Company may terminate this Contract by notifying the Customer
60 (sixty) days prior to the date of termination.
11.4. The Company may also terminate this Contract by notifying the
Customer 60 (sixty) days prior to the date of termination, if the
Customer has not made any Payment transactions for more than 12
(twelve) consecutive months. Before the termination based on such
Legal basis as defined in this Clause 11.4, the Company contacts with
The Customer due to the clear up of the necessity of opened Account
For the Customer. In case if Customer has not made any Payment
Transaction for more than 12 (twelve) consecutive months, the
Company relies on its own discretion whether to continue the
Cooperation or not.
11.5. This Contract may be terminated by mutual agreement between
Parties.
11.6. The Company may terminate this Contract immediately if the
Company reasonably suspects or determines that the Customer:
Framework contract Citizen Money Page 27 of 30
11.6.1. is in violation of applicable laws or regulations including those
Connected with anti-money laundering or counter-terrorist
Financing.
11.6.2. has provided false or misleading information or
Documentation to the Company, failed to provide the documents
And information connected with its Account and using the
Services or failed to keep such documents and information upto-date.
11.6.3. is using the Services to make or receive payments for
Activities related to those provided in the restricted activities, or.
11.6.4. is otherwise using the Services for malicious, illegal or
Immoral purposes.
11.7. If it is allowed to do so under the applicable laws and regulations, the
Company will notify the Customer about the underlying reasons of
Termination of this Contract as soon as possible.
11.8. Upon termination of this Contract, the Company is obligated to
Provide the Customer, free of charge, on paper or on another durable
Medium, with information on Payment transactions executed on the
Account within the last 36 months. If less than 36 months have
Passed from the date of entry into force of this Contract, the
Mentioned information shall be provided for the entire duration of the
Contract.
11.9. The Clause 11.8 above shall not be applied in case where the
Customer voluntarily refuses to receive such information by informing
The Company in writing on paper or by another durable medium prior
To termination of the Contract.
11.10. The termination of this Contract shall not release the parties from
Their obligations to each other arising prior to the date of termination
Of this Contract to be properly executed.
12. DISPUTE RESOLUTION AND PROTECTION OF CUSTOMER’S RIGHTS
12.1. The disputes between the Company and Customer shall be solved
Through negotiations.
12.2. In case the dispute cannot be solved through negotiations, the
Customer can submit a complaint by post or e-mail, specifying
Customer’s name, contact details, relevant information, which would
Indicate why the Customer reasonably believes that the Company
Violated the legal rights and interests of the Customer while providing
The Services. The Customer can add other available evidence that
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Justifies the need for such complaint. If the Customer would like to
Submit a formal complaint, the Customer shall send the email to
support@citizenmoney.com.
12.3. Upon receipt of a complaint from the Customer, the Company
Confirms receipt of the complaint and indicates the time limit within
Which the reply will be submitted. In each case, the deadline for
Submitting a reply may vary as it directly depends on the extent and
Complexity of the complaint filed, but the Company will make the
Maximum effort to provide the response to the Customer within the
Shortest possible time, but not later than 15 (fifteen) Business Days.
In case the Company is not able to provide the final answer within 15
(fifteen) Business Days, the Company shall inform the Customer
About that and indicate the time when the answer will be provided,
However the term shall not be longer than 35 (thirty-five) Business
Days. The complaints submitted by the Customer are solved free of
Charge.
12.4. Dispute resolution. The Customer, who is a Consumer, which is an
Alternative dispute resolution institution between financial service
Providers and the Consumers..
13. FINAL PROVISIONS
13.1. The law of UK is applicable to this Contract, its annexes, and
Relations of the Parties that are not regulated by this Contract,
Including cases when a dispute between the Customer and the
Company falls under the jurisdiction of a court of another State.
13.2. This Contract shall enter into force and become valid when the
Customer has been approved by the Company.
13.3. The Customer, who is a Consumer, may renounce this Contract
Concluded via electronic channels without any charge within 14
(fourteen) days after the day on which this Contract was concluded
By giving the Company a notice through the Customer’s Account and
By other electronical mean (e.g. by e-mail, by telephone).
13.4. If any part of this Contract is found by a Court of competent
Jurisdiction to be invalid, unlawful or unenforceable then such part
Shall be severed from the remainder of the Contract, which shall
Continue to be valid and enforceable to the fullest extent permitted by
Law.
13.5. Customer may not transfer or assign any rights or obligations it may
Have under this Contract without the Company’s prior written
Consent. The Company reserves the right to transfer or assign this
Contract and all rights or obligations under this Contract with prior
Notice to the Customer in accordance with the rules and procedures
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Set forth in this Contract at least 60 (sixty) calendar days before such
Changes enter into force. The Customer has the right to accept these
Changes or reject them. If the Customer does not agree with such
Changes, the Customer has the right to immediately and without no
Commission fee terminate this Contract until the day the amendments
Begin to apply expressing a disagreement with the changes. The
Disagreement shall be provided via Customer’s Account and
Additionally through the e-mail. If the Customer does not use its right
To terminate this Contract until the day when such changes come into
Force, the Customer shall be deemed as accepted the changes. The
Foregoing does not apply if either Party changes its corporate name
Or merges with another corporation.
13.6. The effective date of the Framework Contract is 6th of February,
2023.
Framework contract Citizen Money