Terms of Service

Last updated: November 11, 2023

Welcome to Paymentz Ltd Terms of Service, outlining the terms and conditions governing the provision of payment services to you.


Paymentz Ltd is a company incorporated under the laws of England with registration number 12431685, whose registered office at 2-4 Eastern Road, Imperial Offices, Romford, England, RM1 3PJ.
Paymentz Ltd is a Payment Institution authorized and regulated by the Financial Conduct Authority (FCA), an autonomous government agency that operates independently and is responsible for the regulation and overseeing of the financial industry in the United Kingdom.

The FCA reference number of Paymentz Ltd is 924263. You can learn more about PAYMENTZ, how it is regulated, and check the full record of the regulated activities.

Please don't hesitate to contact us for any questions or inquiries:

Write to us at 2-4 Eastern Road, Imperial Offices, Romford, England, RM1 3PJ
Remote System:
Reach us via our “online portal” for convenient assistance.

This document, known as the Terms of Service, forms a legally binding Agreement (“Agreement”) between its users (further referred to as “You”, “User” or “Customer”) and Paymentz Ltd (further referred to as “PAYMENTZ”, “We”, “our” or “Us”)


Additionally, your agreement extends to the supplementary documents available on our website www.paymentz.co.uk, including:

  • Privacy Policy
  • Anti-Money Laundering Policy
  • Complaints Handling Policy
  • Cookies Policy


Unless expressly stated otherwise, the following terms shall have the following meaning:

Account – an operational account opened for you with Us in our Remote System where Your transactions are recorded.

Authenticator – codes, passwords, and other identifiers or actions, the creation or use of which is possible via our Mobile App PAYMENTZ and which we use for your authentication and/or for confirmation of the Payment orders initiated in the Remote System.

Business Day – a day within Our working hours, which is not Saturday, Sunday, or holiday in the United Kingdom (“UK”). Our working hours are from 9 am to 5 pm UK time.

The mobile application “PAYMENTZ” – is a mobile application available for download on our Website, Google Play, and AppStore, is linked to your mobile device, and serves as an Authenticator, further referred to as a Mobile App.

Payment – an action initiated by You for making a money transfer or withdrawing money.

Payment orders – Your instruction to Us to execute a Payment.

Tariff Plan – Standard Fees or Unique Fees, depending on which of them is applied to the Agreement between You and Us.

Remote System – remote access system provided by Us to You, which, subject to these Terms, enables You to use Our Services and communicate with Us remotely.

Services – All services described in Terms of Services provided by Paymentz Ltd and are collectively referred to as the “Service”.

Standard Fees – Our standard Tariff plan, which is published on the Website and contains fees and charges payable by You for the Services provided by Us.

Unique Fees – Our unique (tailor-made) Tariff plan, developed individually for You, contains fees and charges payable by You for the Services provided by Us.

Website – Our website www.paymentz.co.uk

    1. PAYMENTZ grants You rights to use PAYMENTZ Services in accordance with the provisions of these Terms.
    2. These Terms together with the Tariff plan (the Tariff plan is an integral part of these Terms) form a legal Agreement between You and Us that governs Your use of Our Payment services, the Remote System, and other services (individually and together, the “Services”). The Tariff plan also governs the legal relationship between You and Us.
    3. We do not provide any consulting services or advice.
    4. By entering into the Agreement, You confirm:
      1. that prior to entering into the Agreement, We have provided You online, on Our Website with these Terms and the Standard Fees;
      2. that You have carefully read and fully understood these Terms and the Standard Fees;
      3. Your agreement that PAYMENTZ is entitled to provide Services to You according to the Terms and Standard Fees;
      4. that you comprehend, to utilize our Services for authentication and/or confirmation of activities in the Remote System, you consent to downloading and utilizing the PAYMENTZ Mobile app, specifically designed for Android and iOS platforms.
    5. If at Our discretion Standard Fees cannot be applied to the Agreement between You and Us, We will apply the Unique Fees. We will notify You of the Unique Fees before the conclusion of the Agreement by sending such information to the e-mail address provided by You during registration. Simultaneously We will inform You about the method of giving consent or refusal to the Unique Fees. Upon receiving a refusal of the Unique Fees, You revoke Your registration to Our Services.
    6. Terms, along with the Standard Fees and any amendments, are available for review on our website. Upon your request, we can provide you with a printout. Any changes to the Unique Fees will be communicated to you through notifications within the Remote System not later than 1 (one) month in advance.
    7. If You wish to use Our Services, You should register through Our website www.paymentz.co.uk, and accept these Terms by clicking the “I accept” button. You confirm that all information submitted by You is valid at the time of entering into this Agreement.
    8. When You have registered for Our Services and accepted these Terms and the Tariff plan, We may perform due diligence and may require You to supply additional documentation and/or information for Us to be able to carry out any necessary steps in accordance with applicable laws and regulations, as determined by Us in our sole discretion. You shall assist Us in that regard.
    9. Upon successful registration, You will receive a confirmation email of the conclusion of the Agreement at Your registered email address. We have the right not to accept Your registration and to refuse to conclude the Agreement without explaining the reasons for the refusal.
    10. The Agreement is concluded for an indefinite period.
    11. The Parties shall communicate in English.
    12. You have full legal capacity, and all necessary consents and have the authority to enter into the Agreement and use Our Services; You are properly empowered and have obtained all necessary corporate or other authority pursuant to statutory documents. You are not prevented by any legal disability or subject to any laws or regulations from performing Your obligations under this Agreement and any related transactions contemplated by them.
    13. By using Our Services, You agree to be bound by all terms and conditions of the Agreement.
    14. The transfer of your rights or obligations under this Agreement to another party requires our express written consent.
    15. You must be solely and fully liable for the declaration/registration of all Accounts with Us, as well as all operations with respect to those Accounts, to tax authorities where You are considered a tax resident.
    16. The UK deposit guarantee scheme does not apply to Accounts opened with Us. However, We will ensure that Our Customers’ funds are kept in a segregated bank account opened for the benefit of Our Customers, which will not be used to hold Our own funds or the funds of other parties that are not considered to be Our Customers.
    17. If any terms of this Agreement are determined to be unenforceable, the remaining terms will continue in full force and effect, and these terms will be construed as if the unenforceable term had never existed.
    18. The laws of England and Wales apply to this Agreement.
    20. We will provide You with Our Services remotely via the Remote System.
    21. To use Our Remote System, You must meet and comply with the following minimum system requirements:
      1. Processor: Intel Core i3 or better
      2. Memory: 2 GB RAM 4.13.2.
      3. Operating system: Windows 7 / Linux up-to-date distro / OSX
      4. Browser: Firefox / Chrome / Edge 4.13.3.
      5. Operating system for mobile devices: iOS 13 or higher / Android 8.0 or higher.
    22. We will identify You for accessing the Remote System by means of a Login (Your e-mail, as specified during registration), a unique password created by You, and a one-time password generated in the Mobile app (the “Personalised Security Credentials”).
    23. You shall keep confidential Your Personalised security credentials for the Remote System.
    24. Your Personalised Security Credentials are confidential, and You shall not disclose them and shall keep them protected against third-party access; you will keep them safe.
    25. If Your Personalised Security Credentials are disclosed, or could have been disclosed to a third party, You shall immediately notify Us in writing and We will block access to Our Remote Services in the fastest possible way until new Personalised Security Credentials are supplied.
    26. Access to the Remote System will be blocked in the event You erroneously enter Your Personalised Security Credentials five times.
    27. We have the right, but not the obligation to completely or partially block Your access to Remote Services if We believe that Your Personalised Security Credentials were released or could have been released to a third party, or if illegal actions have taken place. We also have the right to ensure the safety, integrity, and confidentiality of Services for You and/or other Users, or to prevent possible losses to Us or You, as well as to execute orders of government bodies and/or officials that are subject to mandatory enforcement according to respective applicable laws.
    28. From time to time, the parties (You and Us) will send each other documents/notifications/requests/applications via the Remote System, and the parties (You and Us) agree that all these documents and information are considered sent and received by the parties at the moment of respective transmission if they are sent on a Business Day, or the next day if they are not sent on a Business Day. We will consider any documents/notifications/requests/applications received via the Remote System with Your Personalised security credentials, as sent by You.
    29. You agree that the communication channel for receiving any types of documents / notifications / requests / applications under these Terms is the messaging system in the Remote System and that all documents / notifications / requests / applications and information reflected in the Remote System will be considered binding for You, and that such information is equivalent to the information issued by Us as a written document, statement, or acknowledgment.
    30. In those cases when We limit access to the Remote System temporarily, but not longer than 24 (twenty-four) hours, due to Remote System maintenance, development work, or other similar activities, and if We have informed You about such cases at least 2 (two) Business Days in advance, such limitation of access will not be considered as interruptions to the Services or the Remote System.
    32. You shall pay charges and fees for the Services pursuant to the Standard Fees /the Unique Fees or the Terms. All Our charges and fees are non-refundable.
    33. You shall pay Us fees and charges for the Services provided as set in the Standard Fees /the Unique Fees starting from the moment we provide the respective Service.
    34. All applicable fees and charges payable to Us will be deducted from Your Account.
    35. Subject to this Agreement, You are obliged to pay all fees and charges due for Your use of Our Services regardless of the suspension or blocking of the Services.
    36. We will not pay interest, or provide any other benefit, in respect of the holding of funds on Your Account.
    38. You hereby consent to cooperate with Us in all cases in which We or any third-party service provider are obligated, under relevant laws, to check and verify Your identity and validate financial sources. Such requests/applications may include a request to disclose more detailed information to Us for adequate identification of You or any related person, including the verification of Your information in the third party‘s databases or any other sources. To enable You to use Our Services, We may request additional information. We reserve the right to block, suspend, or limit Your access to Your Account and/or other Services if We fail to obtain or verify such additional information.
    39. By consenting to the Terms, You agree that We or any authorized third party may carry out such verification mentioned in the previous section.
    40. We shall ensure that your data is correct, up-to-date, and valid. If We suspect that Your data is outdated or incomplete, We are entitled to contact You and request that You pass verification again. In this event, We may suspend or restrict Your access to Our Services, and restrict the Services, for the period needed to perform Your identity check. We shall not be liable for any losses caused by Your failure to cooperate and promptly update Your data.
    41. You must notify Us immediately but not later than within 3 (three) Business Days of any changes in the information or documents submitted to Us.
    42. If You are a corporate Customer, You must notify Us immediately but not later than within 1 (one) Business Day, in the event of any corporate changes or beneficial ownership changes by more than 25%.
    43. In relation to the prevention of money laundering or the financing of terrorism and its proliferation, tax fraud, or other illicit activities, We have the right to refuse cooperation with You, including to refuse/refrain from Payment order execution, if, with respect to You or a related person, including a beneficial owner:
    44. - There exist sanctions and/or restrictions on the part of international organizations, or sanctions and/or restrictions applied to/by specific countries or other international or local sanctions;

      - A Payment order initiated by You or in favour of You is directly or indirectly related to a person against whom international or local sanctions have been imposed;

      - We have knowledge or suspicion that You, a beneficial owner, or any person related to You has performed or attempted to carry out activities aimed at money laundering or financing of terrorism and its proliferation, tax fraud, or other illicit activities;

      - Your activities do not comply with the requirements of the regulatory enactments regulating the prevention of money laundering or financing of terrorism and its proliferation, tax frauds, or other illicit activities.

    45. We shall not be obliged to explain to You the reasons for our refusal to cooperate, including with respect to the execution of a Payment order, in accordance with the Terms.
    47. We at all times adhere to Know-Your-Customer (KYC) principles upon the establishment of, and during the business relationship with Our Customer.
    48. In order to comply with legal requirements for the prevention of money laundering or the financing of terrorism and its proliferation, tax fraud, or other illicit activities, We may request from You, and You shall provide the necessary documentation and information for due diligence, including with respect to a beneficial owner, the personal and economic activity of You and a beneficial owner, financial position, origin of funds and explanations of financial operation or the objective of operations.
    49. We have a right to refrain from the provision or performance of financial services if We have information or reasonable grounds to believe that Our Customer or related person is involved in money laundering or terrorism and its proliferation financing, tax fraud, or other illicit activities.
    50. We shall not be liable for any loss caused to You or any third parties as a result of providing or refusing to provide financial services, or as a result of suspending, or terminating financial services, if We have acted within the legal framework of regulations ensuring prevention of money laundering or the financing of terrorism and its proliferation, tax fraud or other illicit activities.
    51. Our additional terms and conditions, and the requirements resulting from the prevention of money laundering or financing of terrorism and its proliferation, tax fraud, or other illicit activities, are included in Our AML Policy.
    52. Based on these Terms and Our AML Policy, We may block access to the Remote System/Our Services for certain countries.
    54. You have the right and the obligation to follow the amendments made to these Terms, the Standard Fees, and/or Unique Fees. Information on amendments to these Terms and the Standard Fees can be found on our Website. We will send You information on amendments to the Unique Fees via the Remote System.
    55. At any time, and no later than 10 days before the effective date of the amendment, We may propose to You an amendment to the Terms, Standard Fees, and/or Unique Fees specified in the proposal.
    56. It is agreed between You and Us that You will be deemed to have accepted Our proposal for an amendment to the Terms, Standard Fees, and/or Unique Fees if:
      1. We have proposed the amendment to the Terms, Standard Fees, and/or Unique Fees no later than 10 days before the proposed effective date of the amendment;
      2. You have not rejected the proposal for an amendment to the Terms, Standard Fees, and/or Unique Fees before the effective date of the amendment.
    57. If You disagree with the amendments to the Agreement, You have the right to submit a written notice of termination of the Agreement to Us before the respective amendments come into force. In this case, You must pay all fees specified in the Agreement and perform other obligations arising from the Agreement. If We have not received Your written notice by the effective date of the amendments to the Agreement, You shall be deemed to have fully agreed to the amendments.
    58. If any amendments to the Agreement are required by law, or are related to a new service or option added to the existing Services or a reduction in the service price or any other change that does not limit your rights or increase your liability, such amendments may be made without prior notification with an immediate effect.
    60. You may terminate the Services at Your own discretion at any time; in such case, these Terms shall terminate upon expiry of a two-month period. No termination of the Services shall affect any of Your rights or obligations that arose under these Terms before the date of termination, and those rights and obligations shall survive such termination due to their features.
    61. We are entitled to close the Account and terminate the Services unilaterally by notifying You 2 (two) months in advance except for the cases specified in Clause 56 of the Terms without explaining the reasons.
    62. We are entitled to immediately close the Account and terminate the Services unilaterally without prior notice, notifying You in writing if:
      1. You are not duly performing Your obligations under these Terms, or in performing Your obligations, You violate the provisions of these Terms;
      2. You have provided Us with false information or documents;
      3. You have not provided to Us within the set timeframe the requested information and/or documents or have provided false or incomplete information and/or documents;
      4. We believe or have established that the documents provided by You are counterfeit and/or information and/or documents do not correspond to actual circumstances;
      5. We believe or have established that there is an unidentified and unauthorized individual acting on behalf of You;
      6. We believe or have established that the true beneficiary indicated by You is a different person;
      7. We believe or have established that You have tried to use, or are using Our Services for illegal purposes - for fraud or other illegal activity;
      8. You have a negative account balance;
      9. We have reasonable grounds to suspect that You or funds in the Account are involved in money laundering or the financing terrorism and its proliferation, tax frauds, or other illicit activities;
      10. We have information about extraordinary circumstances beyond Our control that may affect the safety or confidentiality of Your and/or other Our Customers' funds or inflict losses;
      11. We have information that You are involved in an illegal activity and/or other negative information about You or related to You that could damage Our reputation;
      12. Our right to terminate the Terms immediately results from the regulatory enactments binding on Us;
      13. at our discretion if You have not performed transactions on the Account for more than 6 (six) consecutive months and its balance is equal to 0 (zero).
    63. Prior to closing the Account, We will debit the Account for the funds due to Us pursuant to the Terms or other agreements concluded with Us and will transfer the remaining amount to the account specified by You, applying a corresponding fee.
    64. Prior to closing the Account for any reason, You must transfer all funds from the Account to an account opened with another financial institution. If there are funds left on the Account and they are not transferred from the closed Account within 1 month after its closure, We are entitled to charge the funds from the closed Account with a 0.1% (minimum 1 GBP) daily fee or We are entitled to charge You with other fee and commissions specified in Your Tariff plan.
    66. If you have a complaint, please contact Us. You will need to provide Us with Your name and the Account number, a description of the complaint, when the events leading to the complaint arose, and how You would like us to put the matter right. We will investigate Your complaint and respond to you via the Remote System within 30 (thirty) days. We will handle Your complaint in compliance with the Complaints Handling Policy published on Our Website.
    67. If You are not satisfied with the way We have handled Your complaint, You can refer it to the Financial Ombudsman Service within six months of the date we sent (or should have sent) our final response to you. You can find more information on their website.
    68. If your complaint is about our Service relating to payments, you can also make a complaint to the Financial Conduct Authority.
    69. If your complaint pertains to how we store or process your personal information, you also have the option to contact the Information Commissioner's Office. Nevertheless, we would appreciate the opportunity to address your concerns initially.
    71. We perform the processing of Personal Data in accordance with Our Privacy Policy available on Our Website.
    72. We will make use of the services of third parties directly related to the execution of the Services and such third parties may request certain information about Payment or other operations, and about Our Customers or related information; or, this information may become inevitably available to those third parties during performance of the Service.
    73. You hereby acknowledge, are informed, and agree that We will provide information requested by third parties about payment transactions, about You, or related information to third parties, or that third parties may have access to such information when performing the Service. You agree that We will transfer Your Personal Data to persons directly related to the execution of the payment operation, such as the provider of Payment services of the recipient, the operator of the payment system for execution of the payment operation, or intermediaries of the provider of Payment services of You and the recipient. Possibly, other third parties, as necessary to fulfill our legal obligations.
    75. Neither Party will be liable for any failure or delay in performing an obligation under this Terms that is due to any of the following causes, to the extent beyond its reasonable control: acts of God, accident, riots, war, terrorist act, epidemic, pandemic, quarantine, civil commotion, breakdown of communication facilities, breakdown of web host, breakdown of internet service provider, natural catastrophes, governmental acts or omissions, changes in laws or regulations, national strikes, fire, explosion, generalized lack of availability of raw materials or energy. For the avoidance of doubt, Force Majeure shall not include (a) financial distress or the inability of either party to make a profit or avoid a financial loss, (b) changes in market prices or conditions, or (c) a party's financial inability to perform its obligations hereunder.
    76. The Party (the “Affected Party”) prevented from carrying out its obligations hereunder shall give notice to the other Party of an Event of Force Majeure upon it being foreseen by, or becoming known to, the Affected Party within 3 (three) Working Days.
    1. Under these Terms, We undertake to open and maintain the Account for You and You are authorized to use the Account to execute Payment orders in compliance with these Terms.
    2. Only verified Customers are authorized to operate the Account. Other persons may operate the Account only based on specific power of attorney granted by You in the appropriate form and reflecting certain requirements, which we will advise on a case-by-case basis. We are not responsible for transactions with the Account if You have not notified Us in writing about the revocation of a power of attorney in writing.
    4. A Payment transaction is authorized if You give Us Your consent with respect to it. Your consent (authorization) will be given to Us through the Remote System with an Authenticator created via the Mobile app PAYMENTZ. Consent to execute Payment transaction can be given also via a payee or a payment initiation service provider, on condition that We provide such an option to execute a payment.
    5. You must give Your authorization to execute Payment transaction prior to their execution.
    6. A Payment order is considered as having been submitted to Us when it is assigned the status “PROCESSING” in the Remote System.
    7. You are entitled to withdraw Your authorization to execute a payment transaction by withdrawing the Payment order. You are entitled to withdraw the Payment order while this Payment order has the status “PROCESSING”.
    8. In the case where a payment transaction is given through a payment initiation service provider, the consent to execute the Payment transaction is given the moment the Payment order is submitted to the respective provider.
    9. To withdraw a Payment order, You shall submit to Us a corresponding withdrawal notice via the Remote System. The withdrawal notice shall include the transaction number assigned to the respective Payment order, or specify any other information requested by Us.
    11. You shall submit to Us the Payment order in a form pursuant to the Agreement, Our requirements, and any legal requirements.
    12. You are solely responsible for the accuracy and completeness of the information You have included in the Payment order, as well as for the legality of the purpose of the Payment order initiated by You.
    13. For Us to execute the Payment order You need to specify all requested information in the Payment order form. The requested information in the Payment order form may vary depending on the type of payment, payment currency, the payee's account jurisdiction, and other payment details.
    14. If We have established that not all information necessary for the execution of the Payment order has been included in the Payment order form, or that the Payment order form contains errors or other faults, We will request further information from You, or ask You to adjust the information provided in the Payment order within the time specified by Us. In such case, We shall execute the Payment after the provision of the requested information or after You adjust the information provided in the Payment order form. If this information is received by Us within the term specified by Us, the Payment order can be authorized. Otherwise, We are entitled to refuse the execution of the Payment order and We shall not be held responsible for any loss incurred by You or any third parties.
    15. If You have established that the Payment order contains erroneous or incomplete information, You may ask Us to adjust the submitted Payment order while this Payment order has the status “PROCESSING”. In such case, You shall submit to Us the information on adjustments to be made to the Payment order via the Remote System.
    16. You may submit the Payment order only in the currencies in which We execute payments. Information about the currencies in which we can execute payments is available on Our website.
    17. Payment orders shall be completed in English, or in another language only if the execution of the payment follows the requirements of the relevant payment scheme, the jurisdiction of the payee's account, or a specific payment currency, or due to other requirements. Unless We specify otherwise, the Payment order must be completed in the language of the Payment order form.
    19. You shall ensure that the amount of funds necessary for the execution of the Payment order and for payment of the related fees is freely available on the Account to be debited for the respective payment. If there are insufficient funds in the Account, We are entitled to refuse such a Payment order.
    20. You can send and receive funds between accounts on the Paymentz platform within Our Remote Systems (Internal Payments).
    21. The execution time of Payment orders is specified in these Terms and Your Fees and Plan.
    23. If a Payment is made within the United Kingdom in Pounds Sterling (GBP), or involves only one currency conversion between the Euro and GBP, or is made within the EEA, then the maximum period of time after which the funds will be credited to the payee's payment service provider's account may not exceed four (4) Business Days from acceptance. We do not guarantee the execution of a Payment within any specific timespan if the Payment order is addressed to a Payment Service Provider located in a third country (being a country other than the United Kingdom or a European Union Member State) or if the currency of the Payment order is a third country currency, and at least one Payment order execution chain is not in the United Kingdom or a European Union Member State, or if, during the execution of a Payment order, the correspondent institutions participating in the Payment order execution chain suspended the execution of the payment, or made an error or due to other actions or omission of the participating correspondent partners/third parties.
    24. If the execution time of the Payment transaction is a date that is not a Business Day for Us or the payment initiation service provider, the Payment transaction will be executed on the following Business Day.
    25. If You have submitted a Payment order on a Business Day after the cut-off time for acceptance of Payment orders, the Parties agree that the Payment order is deemed to be submitted on the following Business Day.
    26. If You fail to comply with these Terms or should the execution of the Payment order be prohibited by law, We or the financial institutions participating in the Payment order execution chain are entitled to refuse execution of the Payment order.
    27. We shall have the right to refuse the execution of a Payment order that requires a currency exchange if We do not carry out the exchange of the respective currency exchange.
    28. We inform You that in executing the Payment orders and performing other Services upon Your instruction, We use the services of third parties including the services of correspondent institutions.
    30. We will credit the Account with the funds due to You as the Recipient of an incoming Payment.
    31. We will make the amount of an incoming payment available to You, immediately after the receipt (deposit) of the respective payment amount on Our account (unless the mentioned funds are freely available / without any encumbrances and restrictions or otherwise specified in regulatory enactments) by crediting the Account specified. We shall establish a cut-off time for acceptance of Payment orders within the Business Day, specifying it on Our website and/or the Tariff plan. If the payment amount is deposited on Our account after the cut-off time for acceptance of Payment orders or on a day that is not a Business Day, such payment amount is deemed to have been received on Our account on the following Business Day.
    32. If applicable, after crediting the Payment amount to the Account, We will deduct the commission fee specified in Your Tariff plan.
    33. If the currency of an incoming payment differs from the Account currency, We will make the relevant currency exchange pursuant to the exchange rate determined by Us on the date of payment, unless we have agreed otherwise.
    34. We may refuse to execute an incoming payment or postpone execution thereof and request detailed information from You or the remitting bank if we have received an incoming payment with erroneous, inaccurate, or incomplete information.
    35. If You have noticed that any funds have been credited to Your Account by mistake, or due to Our error, or in any other way that has no legal basis, You are obliged to immediately notify Us no later than within 1 (one) Business Day after noticing the wrongly credited funds. You acknowledge and understand that You have no right to dispose of funds that do not belong to You. In such cases, You give irrevocable consent, and We are entitled without any additional consent from You or order from You, to correct the error and debit (withdraw) such funds from Your Account. If the amount of funds on Your Account is insufficient to debit the funds credited by mistake, error, or without legal basis, You unconditionally commit to ensuring that there is sufficient balance in Your Account to repay to Us money credited by mistake at the latest within 3 (three) Business Days from the receipt of such a request from Us.
    36. We have the right not to credit the received Payment amount in Your Account if an Account number is correct, but the rest of the information does not match with the existing data available to Us. If We exercise Our rights under this Clause, then the funds received from other payment service providers shall be transferred back to the payer's payment service provider or a request shall be sent to the payer’s payment service provider to clarify the payee’s details. We have the right to suspend crediting for the time necessary for obtaining and evaluating additional information and documents.
    37. Where We are obliged to return a payment or we have decided to return a payment for any reason, regardless of whether the payment was credited to Your Account or not, We may charge You a fee according to Your Tariff plan.
    38. Information on payments
    39. Information on payments is accessible to You in the account statement for your Account. As soon as We make the account statement accessible to You, it is assumed that You have information on the payments specified therein.
    40. You should review Your account statement and other notices from Us related to the transactions made, and ascertain the correctness of the transactions and their compliance with authorized payments, at least once every calendar month.
    41. We have the right to record and store any Payment order submitted by any of the means agreed on with Us, and to record and store information about all Payment operations performed by You, or according to your Payment orders. Records mentioned in this clause may be submitted by Us to You and/or third persons, 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 operations.
    42. Currency exchange transactions
    43. We conduct currency exchange with the currencies based on foreign exchange rates determined by Us.
    44. If the currency of the Account indicated in the Payment order that shall be debited for the payment differs from the currency of the payment indicated in the Payment order, we will perform a currency conversion of the funds freely available in the Account into the amount necessary for the execution of the payment in the payment currency, as indicated in the Payment order. The applicable exchange rate may vary from the exchange rate set by Us and specified in the Payment order if, by the time of the required currency conversion, the exchange rate set by Us has changed.
    45. If the currency of an incoming payment differs from the currency of the Account indicated in the payment order, We are entitled to convert the currency of the incoming payment to the currency of the respective Account.
    46. Where We are obliged to return a payment that has been executed involving a currency conversion, We are entitled to re-convert the currency of the payment according to the currency exchange rate set by Us and applicable at the moment of such re-conversion and charge You a fee for the return a payment according to Your tariff plan.
    47. You will receive the information on the currency exchange rate to be applied to a particular payment, upon executing an order for the respective currency exchange transaction.
    48. We may apply amendments to the set currency exchange rates without any prior notice to You. Regarding transactions in foreign currency. We are entitled to apply the conditions and restrictions imposed by the country of origin of the respective currency and applicable to Us when conducting transactions or providing services involving such currency.
    49. We shall apply the respective exchange rate effective as of the beginning of the day of any currency exchange transaction. We shall assume no liability whatsoever for any losses incurred by You due to any related to fluctuations in currency exchange rates.
    50. Liability
    51. We may be liable to You if We perform a Payment transaction on Your behalf that You did not authorize Us to perform. We will refund the Transaction amount to You promptly but at the latest by the end of the Business Day following the day on which We were notified the Payment transaction concerned has not been authorized, or we otherwise became aware of the unauthorized Payment transaction.
    52. We may be liable to You where We fail to perform, or incorrectly perform a Payment transaction that You authorize Us to perform unless it was due to Your fault.
    53. The fact that we have not charged you a fee within these Terms, or we otherwise delay the exercise of Our rights under these Terms, does not release You from Your obligations under these Terms and from any subsequent performance under these Terms. If We do not immediately insist on Your performance under these Terms, or if We delay taking steps to have You comply with Your obligations under these Terms, it does not mean that You are not obliged to fulfil these overdue obligations and does not prevent us from contacting you later.
    54. We will have no liability if We fail to perform or incorrectly perform with respect to a Payment transaction where the reasons for this are due to events outside our control or reflect Our statutory obligations.
    55. We shall not be liable for any charges of any correspondent partners that You may engage in sending funds to or receiving funds from Us.
    56. We will pass on to You all charges from correspondent partners, clearing banks, or banking systems, and any other costs incurred or suffered by Us, or by Your instruction to reverse, recall, or modify any Payment except as the result of any error on Our part. Some of these charges are levied by Us in order to offset the costs we incur from Our own banking or service providers, in the course of making Payments. If Our correspondent partners, clearing banks, or the banking systems we use charge us more to process any Payments, we shall have to pass this cost onto You. We shall provide You with as much notice as we can.
    57. We accept no responsibility for any delay in fulfilling the Agreement due to the late arrival of funds, late instruction of payments relative to the cut-off times of the correspondent partners, or delays or faults due to clearing banks or banking systems.
    58. We do not assume liability for damages due to any unusual and unforeseeable events over which We have no control, and whose consequences, in spite of exercising due care, We could not have avoided (caused, for example by Events Outside Our Control, failure of telecommunication lines, civil unrest, war or other events such as industrial action or lockouts over which We have no control). This applies equally to cases in which We are bound by any orders under law.
    59. We do not exclude or limit in any way Our liability to You where it would be unlawful to do so.

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