The term to exercise the right to desist shall commence from the date the agreement is formalised. The HOLDER shall have a term of 14 calendar days to desist from the agreement, without stating the reasons and without any penalisation whatsoever. The power one of the parties has to leave the agreement entered into without effect, without the need to justify the decision. As a consequence of breach by one of the parties, the right to request that the agreement be left without effect, with compensation of losses suffered. Notwithstanding the foregoing, PECUNPAY may terminate the agreement, without the need for advance notice, in the event of objectively justified reasons arising regarding security of the payment instrument, its suspected unauthorised or fraudulent use.įor the following definitions shall apply for the purposes of this agreement: PECUNPAY may terminate this Agreement by providing the HOLDER a minimum of sixty calendar days advance notice. Termination of the agreement shall be free for the HOLDER, except if the agreement has been in force for less than six months. PECUNPAY shall proceed to reimburse the HOLDER the remaining balance, if any, after applying the relevant commissions and expenses up to the date of termination. In that case, PECUNPAY shall proceed to fulfil the order to terminate the agreement before 24 hours have elapsed from receipt of the request from the HOLDER. The relation commences on the date when PECUNPAY provides the holder confirmation that the service has been approved.Įxcept for cases in which the HOLDER has subscribed various products with PECUNPAY for management of which it is necessary to maintain a payment account open, or in the cases that are determined by the regulations, the HOLDER may apply to terminate the agreement at any time by written notification addressed to PECUNPAY, without the need for any advance notice whatsoever. This agreement shall have a perpetual term, without prejudice to the expiry date recorded on the cards issued, or on any other means of payment that PECUNPAY makes available to the HOLDER. Once the HOLDER has completed the above and has passed our internal checks, the card shall be issued. The HOLDER declares they are acting in their own name and on their own behalf and undertake to provide PECUNPAY the documentation, photographs and information that may reasonably be requested to fulfil its statutory obligations. The HOLDER, declares that it knows the conditions and understands them and that, thus, it accepts their inclusion in the agreement. PECUNPAY, as offeror, has previously and specifically informed the HOLDER, in its capacity as adhering party, of the existence of the general conditions that are listed in this document. The parties agree that the clauses set forth in this agreement must be considered general subscription conditions for the purposes stated in Act 7/1998, of 13th April, on General Subscription Conditions. (hereinafter “PECUNPAY”), with registered office at C/ Guzmán El Bueno, nº 133, Edificio América, Bajo B, 28003 – Madrid and the holder (hereinafter “HOLDER”), with regard to the financial services described herein. Verse Payments Lithuania keeps its customer funds as follows: thn EURĪccording to the Electronic Money Directive of the European Union, an electronic money institution must maintain a certain level of own funds which is calculated as a maximum of the initial capital required and 2.00 % of its customer's funds.The general and specific conditions that are detailed below regulate the relation between PECUNIA CARDS EDE, S.L.U. According to the Electronic Money Directive of the European Union, an electronic money institution must safeguard customer funds in a separate account in a credit institution or invested in secure, liquid low-risk assets.
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