General Conditions of Contracting the “Card”

2. PARTICULAR CONDITIONS OF HIRING THE BITSA PRODUCT

2.1. CONCEPT

The purpose of this Contract is to regulate the opening of an electronic money account for the BITSA product (hereinafter, “account”), in PECUNPAY, in the name of the HOLDER.

The account must be associated with the card and other electronic media, so that all operations carried out through these means will be reflected in the account.

The BITSA product card, in its different modalities, physical or virtual (hereinafter, “card”), is a VISA debit card, which allows the HOLDER to obtain goods and professional services in physical establishments that accept VISA cards and have a Point of Sale Terminal (POS) device.

Likewise, this card allows the HOLDER to make purchases online, provided that the website accessed accepts this means of payment, in which case, it will be subject to the conditions established therein.

Likewise, the card will allow any other operations that PECUNPAY makes available to the HOLDER.

The card balance will not accrue interest or any other type of remuneration to the benefit of the HOLDER in any case.

2.2. AUTHORIZATION TO OPEN THE ACCOUNT AND, IF APPLICABLE, FOR THE ISSUANCE OF THE CARD

The HOLDER authorizes PECUNPAY to open an account and, if applicable, to issue a card linked to said account and assigned in the name of the HOLDER.

The request by the HOLDER of one or more additional cards will imply the consent of the same in relation to the charges that PECUNPAY makes to the account as a result of the transactions and dispositions made with said additional cards.

2.3. VALIDITY OF THE CARDS

The card will have limited validity until the date indicated on it. However, if the account is canceled prior to the expiration of the card, the card will be linked to the validity of the account.

Once the registration process form in the mobile application of the PLATFORM has been completed, the user will receive the card after passing our internal checks.

Notwithstanding the foregoing, PECUNPAY reserves the right to cancel or modify the validity date of the cards during the validity period, as well as not to proceed with their renewal upon expiration, with the HOLDER losing all rights related to their use.

2.4. CARD LIMITS

The total maximum amount of operations that can be carried out at any given time will be determined by the amount available in the account, as well as by the limits of cash disbursements established at ATMs, the limits per transactions at stores, and in the same way, cash disbursements and deposits through the private network will be limited.

PECUNPAY reserves the right to block the use of a payment instrument and account for objectively justified reasons related to the security of the payment instrument, suspicion of unauthorized or fraudulent use of the same. PECUNPAY will inform the HOLDER of the blocking of the payment instrument and the reasons for it by the email provided by the HOLDER to receive notifications. This communication will take place prior to the blocking and, if not possible, immediately after it, unless the communication of such information is compromised by objectively justified security reasons or is contrary to any other regulatory provision.

PECUNPAY will unblock the payment instrument or replace it with a new one, once the reasons for blocking its use have ceased to exist.

The economic conditions will continue to apply regardless of the blocking of the account and, if applicable, of the card.

2.5. PAYMENT OPERATIONS

The use of the account and the card will be made in accordance with the usage instructions established by PECUNPAY in this Contract and on its own website, without prejudice to PECUNPAY’s right to modify such usage instructions, as stipulated in Clause 1.5.

Each operation will be recorded by PECUNPAY and the HOLDER will be able to access such information through the website and the corresponding mobile application for each product.

The information regarding the terms and conditions applicable to the payment services and operations will be free for the HOLDER, and will be accessible to the same through the client area, made available to the same.

However, any additional or different type of information requested by the HOLDER will incur a cost that will be settled according to PECUNPAY’s fees. Likewise, PECUNPAY may also pass on to the HOLDER the expenses incurred due to the termination of the Contract, the revocation of payment orders, and those arising from the recovery of funds for payment operations carried out with incorrect unique identifiers, as provided for in PECUNPAY’s fees in each case.

The HOLDER expressly authorizes PECUNPAY to record the operations carried out by the HOLDER in the payment account.

Regarding operations carried out with the card, the validity of the transaction made will be presumed according to the invoice, receipt from the POS terminal, electronic registration and/or authorization of transactions, reading of the magnetic stripe or electronic chip, or any other means of identification established in the card’s usage conditions, even when the presentation of their national identity document, Personal Identification Number or signature is not required. The same consequences will apply in the case of non-face-to-face sales (Internet).

The effective use of the card will be presumed by the mere registration of the transaction in the computer files of PECUNPAY.

2.5.1. Consent and withdrawal of consent

Payment operations will be considered authorized when the HOLDER has given consent for their execution. It will be understood that the HOLDER has consented to the operation when it has been carried out through any of the channels provided by PECUNPAY, including any use of their card, card number, or PIN, without restriction.

All those properly authorized by the HOLDER of the same or charged to the same will be admitted as debits to the account.

The HOLDER may not revoke a payment order after it has been received by PECUNPAY. However, the HOLDER may withdraw consent at any time before the date of irrevocability referred to in articles 36 and 52 of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters.

However, if the HOLDER does not have the status of a consumer or microenterprise as specified in Royal Decree-Law 19/2018, of November 23, consent may not be withdrawn.

2.5.2. Receipt of payment orders

The moment of receipt of a payment order will be when it is received by PECUNPAY, regardless of whether it has been transmitted directly by the HOLDER, on their behalf, by a payment initiation service provider, or indirectly through the beneficiary, unless the receipt takes place after 11 am on a business day or on a non-business day, in which case, it will be considered received on the next business day.

The account of the HOLDER will not be debited before the receipt of the payment order.

If the HOLDER and PECUNPAY agree that the execution of the payment order begins on a specific date or at the end of a certain period, or on the day the HOLDER has made funds available to PECUNPAY, it will be considered that the moment of receipt is the agreed upon day. If this day is not a business day for PECUNPAY, the payment order will be considered received on the next business day.

In relation to payment orders initiated through a card, PECUNPAY will receive the payment order on the same day it is made by its HOLDER, and it will be executed immediately from the moment of its receipt. However, in certain establishments (e.g. highways, parking meters, etc.), executed payment orders may be debited to the account associated with the card after the date of their execution.

2.5.3. Transmission of the entire amount of the operation

PECUNPAY will credit the total amount of the received operation in favor of the Holder’s account. However, PECUNPAY may deduct its expenses from the transferred amount before crediting it to the account.

2.5.4. Execution period of payment operations

1. In euro payment operations, as well as in national payment operations in the currency of a Member State of the European Union that is not part of the euro area, and also in the case of payment operations involving only a currency conversion between the euro and the currency of a member state not part of the euro area, as long as the corresponding conversion takes place in the member state not part of the euro area and, in the case of cross-border payment operations, the cross-border transfer is made in euros, the following rules on the maximum execution period of payment operations shall apply. When PECUNPAY is the payment service provider of the payer, after receiving the order, it will ensure that the payment operation amount is credited to the beneficiary payment service provider’s account, at the latest, by the end of the next working day.
2. For payment operations not covered in the previous paragraph, PECUNPAY may extend the execution period of the operation, which will in any case not exceed four working days from the receipt of the payment order.

2.5.5. Value date and availability of funds

The value date of the charge to the payer’s account will not be earlier than the working day on which the payment operation amount is charged to that account.

The value date of the credit to the beneficiary’s account will not be later than the working day on which the payment operation amount is credited to the beneficiary payment service provider’s account.

2.5.6. Rectification of payment operations

The Holder will obtain the rectification by PECUNPAY of an unauthorized or incorrectly executed payment operation, only if the Holder communicates it without unjustified delay, as soon as he becomes aware of any such operations that are the subject of a claim, even those covered by paragraph 2.5.8. of this document, and, in any case, within a maximum period of thirteen months from the date of the debit.

When the payment services user is not a consumer or a microenterprise, within the terms established in Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters, the maximum period for obtaining rectification of an unauthorized or incorrectly executed payment operation only if the payment services user communicates it without unjustified delay, as soon as they become aware of any such operations mentioned in the previous paragraph, will be 10 calendar days.

The notification periods established in the previous paragraph shall not apply when the information on the payment operation has not been provided or made available to the Holder.

2.5.7. Unique identifier

The Unique Identifier is the combination of letters, numbers or signs assigned by PECUNPAY to the Holder for the unequivocal identification of the Holder or his account or payment card in a payment operation.

For these purposes:

1. The Holder’s Unique Identifier for the identification of their account will be the IBAN (International Bank Account Number);
2. The Holder’s Unique Identifier for the identification of their card will be the card number (PAN).

When a payment order is executed according to the unique identifier, it will be considered correctly executed in relation to the beneficiary specified in said identifier.

If the unique identifier provided by the Holder is incorrect, PECUNPAY will not be responsible for the non-execution or defective execution of the payment operation.

2.5.8. Responsibility in case of non-execution or defective execution of a payment order

When a payment order is not executed or is executed defectively, PECUNPAY will act in accordance with the provisions of Article 60 of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters.

2.5.9. Mandate

Within the operation of the Holder’s account, operations may occur for sending money from the Holder’s account to the PLATFORM’s treasury account and initiated by the latter, such as economic fee collection operations by the PLATFORM. These operations are recurring, for a specific amount and automatic.

Prior to the start of these operations, the Holder will receive a message containing information about the operations and must accept the periodic, limited in time and for a specific amount, sending of money to the PLATFORM’s treasury account (hereinafter, “Mandate”). Acceptance of the Mandate implies the Holder’s authorization to the PLATFORM to carry out the charges covered by the Mandate in the Holder’s account.

Therefore, this sending of money will be backed by the Holder’s prior authorization through the Mandate. This authorization by the Holder through the Mandate will be stored in PECUNPAY’s database as evidence.

Likewise, PECUNPAY will send, to the email provided by the Holder at the time of registration, the reference of the Mandate that the Holder has just authorized and will include the following information about the money transfer: origin account, destination account, concept for which the charge is made, maximum amount to be charged per operation, total duration of the Mandate, and total amount to be sent.

2.6. TOP-UPS

The Holder must pay, in advance, the sufficient amount for the recharged amount. Accounts can be topped up as many times as desired up to the limit assigned by the Holder or by PECUNPAY.

The Holder may top up the account through the following channels, provided they are available through the PLATFORM:

Within the corresponding mobile application for each product, by debiting to a financial card, through a Point of Sale Terminal offered by another entity.

By bank transfer.

In cash, at the top-up points enabled by PECUNPAY, provided that the contracted product offers this method of top-up.

By any other procedure that could be established by PECUNPAY.

By purchasing and redeeming vouchers at points designated for this purpose.

By using the euro balance resulting from the sale of cryptocurrencies, managed by the PLATFORM.

PECUNPAY will remain uninvolved in the incidents and responsibilities that may arise from top-up operations carried out using the methods indicated in the previous points 1, 5, and 6, as they are not directly offered by PECUNPAY.

Likewise, PECUNPAY will not be responsible for any top-up operations carried out through methods other than those contemplated in points 2, 3, and 4 of this clause.

2.7. CASH WITHDRAWAL

The cash withdrawal from the account will imply, on the one hand, the prior transformation of the electronic money in the account into cash and, on the other hand, the relevant entry in the Holder’s account.

The account cannot reflect a negative balance resulting from the operations carried out by the Holder, so the Holder will be required to have a sufficient balance for each operation requested.

If for any reason (for example, but not limited to, a technical error attributable to PECUNPAY or any of its external providers) the Holder has a negative balance in their account, they agree to immediately top-up the account with a sufficient amount to meet the financial obligations arising from the Contract. If the HOLDER does not proceed to regularize the negative balance, and without prejudice to PECUNPAY’s right to terminate the Contract pursuant to Clause 1.2:

1. PECUNPAY podrá ejercer su derecho de compensación que supondrá la disposición de los saldos de las cuentas o cualquier otro tipo de activo a nombre del TITULAR, ya deriven de este Contrato o de cualquier otra relación jurídica que una a las partes.
2. PECUNPAY may initiate a chargeback process for any specific transaction that leads to a negative balance in their account; PECUNPAY may take the measures it deems appropriate to claim the debt out of court or in court.
3. PECUNPAY shall take the measures it deems appropriate to claim the debt extrajudicially or judicially. The HOLDER shall be obligated to satisfy and compensate PECUNPAY for any damages, losses, expenses of any nature (including legal costs) that may arise from PECUNPAY due to breach of the Contract or the actions taken by PECUNPAY for the collection of the credit. By way of example, but not limited to, the HOLDER shall be obligated to bear: the expenses derived from the actions taken by PECUNPAY for the debt collection (payment requests by mail, phone, notary or other means), as well as those derived from judicial or extrajudicial proceedings (attorney fees, procurator’s tariff rights, etc.)

2.8. BALANCE INQUIRY

The HOLDER may check the available balance of the account on the corresponding website/App for their contracted product.

No business or establishment may provide information about the balance of the account. Likewise, balance inquiries are not available at ATMs.

2.9. DEPOSIT OF FUNDS

PECUNPAY states that the deposited funds will be safeguarded in accordance with the legal provisions specified in article 21.1 a) of Royal Decree-Law 19/2018, of 23 November, on payment services and other urgent measures in financial matters.

PECUNPAY declares and expressly undertakes that said funds will not be mixed at any time with the funds of any other natural or legal person who are not clients of the payment services on whose behalf such funds are held.

2.10. IDENTITY VERIFICATION

The HOLDER agrees to cooperate with all requests made by PECUNPAY, through the PLATFORM, or any of its external service providers on its behalf in connection with their account, to identify or authenticate their identity or validate their sources of funding or transactions. This may include, among other things, requesting additional information that allows PECUNPAY to reasonably identify you, including requiring you to take steps to confirm ownership of your phone number or payment instruments, or verify your information against third-party databases or through other sources.

PECUNPAY reserves the right to close, suspend, or restrict access to your account and/or payment services if it cannot obtain or verify such information, or if you fail to comply with their requests as established in the previous paragraph.

PECUNPAY may, in confidence, verify the information provided by the HOLDER or obtain information about them from third parties from secure databases. The HOLDER confirms that they consent to PECUNPAY or a third party on their behalf to perform such verifications.

The HOLDER must ensure that the information in their account is always accurate and up to date. If at any time PECUNPAY believes that your information is outdated or inaccurate, they may contact the HOLDER through the PLATFORM and request more information or request that they go through the verification process again. PECUNPAY will not be responsible for any loss arising from the failure to maintain up-to-date information.

2.11. MINORS OR PERSONS WITH LIMITED LEGAL CAPACITY

Minors, persons subject to guardianship, and, in general, those persons with limited legal capacity, must declare this circumstance and, in turn, exhibit the documentation that authorizes them to obtain the card.

PECUNPAY will not be responsible for the non-compliance with this obligation to the extent that it has observed the legally required precautions to verify the identity and circumstances of the HOLDER.

2.12. USE ABROAD

For the debiting of the sums derived from the use of the card abroad, the exchange to euros will be applied to the currency of the country of origin of the transaction on the day PECUNPAY has paid the amount of the operation.

The exchange to euros on the currency will be increased by the commissions that PECUNPAY has established for transactions made abroad.

The HOLDER will be subject to the current legislation regarding the limits set by the competent monetary authorities for spending abroad, as well as the regime on exchange control, and on the declarations that they are required to make. The HOLDER will be responsible for the non-compliance with said regulations, and no responsibility can be attributed to PECUNPAY. Any expenses incurred, if applicable, must be justified by the HOLDER to the authorities that require it, and no responsibility for the non-compliance of the HOLDER can be attributed to PECUNPAY either.

2.13. PERSONAL IDENTIFICATION NUMBER (PIN)

With the issuance of the card, PECUNPAY will provide a Personal Identification Number (PIN) through the PLATFORM, which the HOLDER, if applicable, can modify and which will be required for any use of the card by the provider of the good or service, in order to prove that they are the legitimate HOLDER.

Said PIN will be requested by the HOLDER through the PLATFORM.

2.14. HOLDER’S OBLIGATIONS

The HOLDER obliges to:

1. Comply with the conditions of use stipulated in this Contract and, in general, use the payment instrument in accordance with the conditions that regulate its issuance and use.
2. Accept as proof of operations the ones related previously, whether carried out by the HOLDER, or by third parties, with or without their authorization.
3. Immediately report to PECUNPAY any irregularity in the records of operations that appear in their account.
4. Be responsible for the accuracy and keeping their data updated.
5. Comply, in a timely manner, with the requirements made by PECUNPAY.
6. Immediately sign the card if there is a space provided for it.
7. Ensure the security of the use and disposal of the card, especially keeping the Personal Identification Number and, in general, any personalized security credentials secret.
8. In case of loss, misplacement, theft, misappropriation, or forgery of the card, turn off/block the card from the corresponding mobile application for the product and immediately notify PECUNPAY, through the phone number listed on Pecunpay’s website or by writing to the email atencionalcliente@pecuniacards.es
9. Destroy or deliver to PECUNPAY the card that has expired or has been replaced, by sending it by regular mail to the PLATFORM.

PECUNPAY reserves the right to take appropriate actions in the event of non-compliance with any of these obligations.

2.15. PECUNPAY’S OBLIGATIONS

PECUNPAY undertakes to:

1. Cancel expired cards, as well as those reported as destroyed, stolen, or lost.
2. Maintain the confidentiality of the Personal Identification Number.
3. Inform the HOLDER of the functioning, the status of the accounts and statements, the transactions made through the card and resolve any doubts that may arise, through the PLATFORM.
4. Refrain from sending payment instruments that have not been requested, except in the event that a payment instrument already delivered to the Payment Service User needs to be replaced,
   such replacement may be based on the incorporation of new functionalities to the payment instrument, not expressly requested by the HOLDER. This replacement will be made free of charge for the HOLDER.
5. Guarantee that adequate and free means are available at all times to allow the user of payment services to communicate in the event of loss, theft, or unauthorized use of the payment instrument.
6. Guarantee at all times that appropriate and free means are available that allow the user of payment services to request the unlocking or replacement of the payment instrument, in case the reasons for blocking its use have ceased.
7. Prevent any use of the payment instrument once the user has reported its loss, theft, or unauthorized use of the payment instrument.
8. Compliance with all the obligations arising from the Contract for the HOLDER.

2.16. DISCLAIMER

PECUNPAY will be exempt from liability regarding those operations that, even when carried out against the will of the originator, have been made as a result of an order received by PECUNPAY for which the established security requirements have been met.

For the purposes of these General Contracting Conditions, it is understood as:

– Authentication: procedure that allows PECUNPAY to verify the user’s identity for a payment service or the validity of the use of a certain payment instrument, including the use of the user’s personalized security credentials.

– Strong Customer Authentication: authentication based on the use of two or more elements categorized as knowledge (something only known by the user), possession (something only owned by the user), and inherence (something that is the user), which are independent – that is, the compromise of one does not affect the reliability of the others – and designed to protect the confidentiality of identification data.

The use of the PIN by a person other than the HOLDER presupposes gross negligence or, as the case may be, fraud on his part.

PECUNPAY, without prejudice to taking the measures it deems appropriate, is exempt from liability in the event of lack of attention to its card by any of the businesses, banks, and savings banks committed to the sale of goods or provision of services, or due to technical or operational incidents at ATMs.

PECUNPAY will also remain separate from the incidents and responsibilities that may arise from the operation carried out between the establishment and the HOLDER of the card.

PECUNPAY excludes, from its scope of application, the Visa Zero Liability Policy, subjecting itself to the current European regulations in the matter.

In the case of unauthorized payment transactions, the liability regime of the HOLDER, regulated in article 46 of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters, shall apply.

Only euros may be deposited into PECUNPAY accounts. In no case will it be possible to deposit Cryptocurrencies, with PECUNPAY being exempt from any liability related to them.

Likewise, PECUNPAY is separate from the legal relationships that may exist between the HOLDER and the PLATFORM and that involve payment transactions and/or charges that may be recorded in the account, beyond what is included in these General and Specific Conditions of the product. Therefore, PECUNPAY shall not be liable for any incidents and liabilities that may arise from the aforementioned legal relationships between PLATAFORMA and OWNER.

2.17. REFUND

PECUNPAY will refund, at any time, exclusively at the request of the HOLDER, through the PLATFORM, the monetary value stored in his account. In any case, the HOLDER must request a refund from PECUNPAY, along with the original card, through the channels enabled for this purpose.

The electronic money will be refunded by default via bank transfer to the account provided by the HOLDER for this purpose. Similarly, and at the option of the HOLDER, it may be refunded by issuing a new electronic money card, in accordance with the commission fee approved by PECUNPAY, in the name of the HOLDER.

In both cases, the HOLDER will assume the expenses generated as a result of the refund and the accrued commissions.

2.18. CONSULTATION OF STATEMENTS AND TRANSACTIONS

PECUNPAY is solely responsible for the truth and accuracy of the information regarding the account statements managed by it and never for the information that any other company or third party unrelated to PECUNPAY may provide to the HOLDER, by any means, in case of discrepancies in the requested information.