TERMS AND CONDITIONS - DEBIT CARD AND ELECTRONIC MONEY ACCOUNT

This contract establishes the terms and conditions that will govern the electronic money account contract between PECUNPAY and the HOLDER (hereinafter, the "Contract").

The contracting of the electronic money account is linked to the contracting of a debit card (hereinafter, the "Card"), which the interested party expressly agrees to contract within the Contract signed and ratified between the parties.

The terms and conditions of the Card will also be governed by these General and Particular Conditions, contained in this document, except for subsequent modifications that could affect their application and validity, which will be carried out in accordance with and adapting at all times to the current regulations.

The parties agree that the clauses contained in this Contract must be considered as general contracting conditions, for the purposes indicated in Law 7/1998, of April 13, on General Contracting Conditions. Likewise, they accept that the language of conclusion of the framework Contract and of communication during the contractual relationship is Spanish.

PECUNPAY, as the predisposing party, has expressly and previously informed the HOLDER, as the adhering party, of the existence of the General Conditions listed in this document.

The HOLDER expressly states that he/she knows the conditions, understands them and that, consequently, he/she accepts their incorporation into the Contract, by signing it. At any time during the contractual relationship, the HOLDER who so requests will have the right to receive these General Contracting Conditions on a durable medium, which will be provided by PECUNPAY and will be available to the HOLDER.

The HOLDER states that he/she acts in his/her own name and right and undertakes to provide PECUNPAY with the information, documentation and graphic material in accordance with the current regulatory framework that may be requested from him/her in compliance with the legal obligations of PECUNPAY and those acquired by the HOLDER. Likewise, the HOLDER guarantees the veracity of the information, documentation and graphic material supplied to PECUNPAY.

In relation to the above, and after having complied with the referenced obligation, once the HOLDER has fulfilled the requirements made by PECUNPAY regarding the provision of documentation, information and annexes and once it has been reviewed and approved by PECUNPAY, the account will be opened and the Card issued, in accordance with the contracted product.

Preferential application of the contractual conditions

For the purposes of the provisions of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent financial measures (hereinafter, "RD-Law 19/2018"), and failing that, in Royal Legislative Decree 1/2007, of November 16, which approves the revised text of the General Law for the Defense of Consumers and Users and other complementary laws (hereinafter, "LGDCU"), the HOLDER who is a natural person acting for a purpose unrelated to his/her commercial, business, trade or profession shall be considered a "consumer". Conversely, the HOLDER who acts within the scope of his/her professional or business activity when subscribing to this contract shall be considered a "non-consumer".

In the event that the HOLDER is considered a "non-consumer" and provided that the regulations governing payment services and the rest of the applicable regulations so permit, the agreements contained in these Contracting Conditions shall apply preferentially over the general regime resulting from said regulations.

1.2.1 Entry into force

Notwithstanding the signing of the Contract, it will not enter into force until PECUNPAY confirms to the HOLDER that the service has been approved, expressly and reliably, and in any case until such confirmation, the rights and obligations subscribed between the parties will not be in force, and therefore the legal link will not be effective for all purposes.

If it is necessary to complete the documentation and/or information provided by the HOLDER, or to correct any defect or error, PECUNPAY will communicate this to the HOLDER expressly through the email provided by the latter or by any other telematic means for notification purposes made available to PECUNPAY.

1.2.2 Duration

This Contract shall have an indefinite duration (hereinafter, "initial term") - the contractual relationship beginning on the day PECUNPAY confirms that your service has been approved (clause 1.2.1 "entry into force")-, without prejudice to the expiration date that appears on the issued cards or any other payment method that PECUNPAY makes available to the HOLDER.

1.2.3. Termination of the contract

For the purposes of this Contract, termination is understood as the end of the same, meaning such event the end of the Contract for the purposes of obligations and rights arising from the parties, as a consequence of the right of the parties to request that the Contract be annulled exclusively under the circumstances indicated below, including the penalty that may arise, where applicable.

1.2.3.1. Voluntary termination of the contract requested by the HOLDER

Except in cases where the HOLDER has contracted with PECUNPAY several products for whose management it is necessary to keep an electronic money account open in the cases determined by regulations based on the applicable regulations for this purpose, the HOLDER may, at any time, terminate the Contract, without the need to justify its termination for any reason, by notifying PECUNPAY in writing, without any prior notice, at the address enabled for this purpose: atencionalcliente@pecuniacards.es.

In this case, PECUNPAY will proceed to comply with the order to terminate the Contract before 24 hours have elapsed since receipt of the HOLDER's request. PECUNPAY will proceed to reimburse the HOLDER the remaining balance he/she had, once the applicable commissions and expenses up to the date of termination have been applied, without exception.

If the account has a balance in favor of PECUNPAY, the HOLDER may only terminate the Contract, after payment of said balance, as well as its accrued interest, commissions and applicable expenses, and declares by signing this Contract his/her express agreement. PECUNPAY will inform the HOLDER at the time of the account cancellation request of the need to settle pending expenses, if any.

The HOLDER is warned that, in the event that he/she requests the termination of the Contract and cancellation of the contracted product(s), and there are pending balance refund operations that must be carried out in favor of the account or the card associated with it (e.g., refund, requested by the HOLDER, of a purchase made by him/her in a Store, said refund must be made in favor of the card or the account through which the payment was made, etc.), the process of refunding said amounts may be hindered. For PECUNPAY to proceed with the balance refund, the HOLDER must provide PECUNPAY, prior to the refund, a bank ownership certificate of the account owned by the HOLDER to which he/she wants the amount to be refunded to be transferred, together with other documentation that PECUNPAY may require for its accreditation.

1.2.3.2 Voluntary termination of the contract requested by PECUNPAY

Likewise, PECUNPAY may terminate this Contract by notifying the HOLDER with a minimum notice of sixty (60) calendar days, without alleging any cause.

1.2.3.3 Termination for cause

Each party may terminate this Contract, in the event that the other party fails to comply with the respective conditions governing it or fails to pay its liquid and demandable obligations under it.

Likewise, PECUNPAY may terminate the Contract, when the HOLDER does not have sufficient balance to satisfy the corresponding charges or, in general, when the HOLDER fails to comply with any monetary obligation assumed under this Contract or under other contracts he/she has with PECUNPAY, informing the HOLDER expressly.

Additionally, the HOLDER is informed that PECUNPAY may terminate the Contract, without prior notice, in the event that there are objectively justified reasons related to the security of the payment instrument, due to lack of the documentation requested by PECUNPAY and not provided by the HOLDER within the required period, the suspicion of unauthorized or fraudulent use of the same, in compliance with its legal obligations and with due diligence for this purpose, as an electronic money entity and in matters of fraud prevention and the rest of the applicable regulations.

PECUNPAY will proceed to reimburse the HOLDER the remaining balance he/she had, once the applicable commissions and expenses up to the date of termination have been applied, without exception.

For the purposes of this Contract, withdrawal is understood as the right of the HOLDER, when he/she holds the status of consumer, to cancel the concluded Contract without the need to justify the decision and without any penalty.

THE HOLDER will have a period of 14 calendar days to withdraw from the Contract, without indicating the reasons and without any applicable penalty by PECUNPAY. If the right of withdrawal is not exercised within the indicated period, it will be considered expired and without effect.

The period to exercise the right of withdrawal will begin to run from the day after the Contract enters into force. THE HOLDER who exercises the right of withdrawal must communicate it to PECUNPAY in the terms provided by the Contract, before the corresponding period ends, by a procedure that allows a record of the notification to be kept by any means admitted by Law. The notification will be considered to have been made within the period if it is made on paper or another durable medium, available and accessible to the recipient, and is sent before the period expires. The HOLDER may exercise his/her right of withdrawal by sending written communication to the address atencionalcliente@pecuniacards.es or to the address Avda. de Bruselas Nº35, 28108 – Alcobendas (Madrid) providing documentation that proves his/her identity (ID or passport). Additionally, said communication must reflect: (i) name and surname; (ii) registration email; (iii) request of the application; and (iv) address.

However, if the HOLDER (consumer) has not received the contractual conditions and contractual information, the period to exercise the right of withdrawal will begin to count the day after he/she receives said information.

By virtue of the applicable regulations, once the right of withdrawal has been exercised by the HOLDER, PECUNPAY will return the amounts it has received, if any, from the HOLDER, except those that correspond to the proportional part of the service provided. Similarly, the HOLDER will return the amounts, if any, received from PECUNPAY. The refund of amounts by the parties will be carried out as soon as possible, and in any case, within a period of 14 calendar days.

PECUNPAY may temporarily suspend the services provided, as well as any payment method associated with them, as a result of non-payment by the HOLDER, for security reasons, for lack of the requested documentation, or due to suspicion of unauthorized or fraudulent practices by the HOLDER.

When the causes that motivated the suspension disappear, the service or payment methods will be reactivated, within the period established in the regulations and in accordance with operational parameters.

PECUNPAY reserves the right to modify the conditions established in this Contract.

The modifications will be published on PECUNPAY's website and, in addition, will be informed by PECUNPAY to the HOLDER by email to the corresponding email address that he/she has communicated for this purpose. However, the modifications will not be applicable and, therefore, will not enter into force until sixty (60) calendar days have elapsed from the sending of the corresponding communication to the HOLDER (hereinafter, "entry into force of the new conditions").

During this period, the HOLDER may cancel his/her electronic money account and Card immediately and without any cancellation cost.

If the new conditions are beneficial for the HOLDER, PECUNPAY may foresee their automatic application after their publication on the corporate website.

If the HOLDER, after becoming aware of the new conditions, rejects them, he/she may terminate the Contract by notifying PECUNPAY through the channels informed in these Conditions, and according to the provisions of section 1.2.3 of these General Conditions. The opposition to the new conditions must be made prior to the entry into force of the new conditions so that they are not applicable to him/her. PECUNPAY will proceed to reimburse the HOLDER the remaining balance he/she had, once the applicable commissions and expenses up to the date of termination have been applied.

The HOLDER will be considered to have accepted the modification of the conditions in question if he/she does not communicate to PECUNPAY his/her non-acceptance prior to the proposed date of entry into force.

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

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 in whose name such funds are held.

The HOLDER is informed that these funds are protected against any claim by creditors of PECUNPAY, even in the event of bankruptcy or insolvency of PECUNPAY, in compliance with current regulations on electronic money and payment services.

Additionally, the HOLDER is informed that PECUNPAY has designated Sabadell Bank (Banco de Sabadell, S.A.), Unicaja Bank (Unicaja Banco S.A.), Inversis Bank (Banco Inversis, S.A.) and Abanca Bank (ABANCA Corporación Bancaria, S.A) as depository entities for customer funds, for the management of said funds and the development of the activity as an electronic money issuing entity.

The ultimate responsibility for the custody and administration of said funds is assumed by PECUNPAY. However, PECUNPAY will not be liable for damages or losses that may arise from bankruptcy or insolvency situations of the depository entity, except in case of negligence or non-compliance with the duties of diligence in its selection and supervision, in accordance with the solvency, reputation and regulation standards required by current regulations.

Absence of coverage by deposit guarantee systems

In accordance with Law 21/2011, on electronic money, electronic money does not constitute a bank deposit in the sense of the regulations on credit entities, so the funds delivered to PECUNPAY are not covered by deposit or investment guarantee systems.

The fees and expenses set out in the Particular Conditions that apply to each of the different products and services contracted will be applicable.

Said fees and expenses, for each of the different products and services, will be explicitly informed in the fee brochure related to each product and service that is in force at all times, being available on PECUNPAY's website, where applicable.

The communications, notifications and documentation that must be made by virtue of this Contract will be made to the HOLDER at the address and/or email address provided by him/her for this purpose.

Communications to PECUNPAY that the HOLDER must make will be made by email to the address: atencionalcliente@pecuniacards.es or by written letter addressed to the address Avda. de Bruselas Nº35, 28108, Alcobendas (Madrid).

The HOLDER undertakes to notify PECUNPAY of changes of address, email address and telephone number(s) and any other data that differ from those provided at the time by the HOLDER, through the means made available by PECUNPAY for this purpose, or through their update, and must bear any loss that occurs due to the sending of invalid, incorrect or inaccurate Information.

Customer Attention

In the event that the HOLDER needs to make any type of operational query, communicate possible incidents or request technical help related to any of PECUNPAY's products and/or services, he/she may contact us via email: atencionalcliente@pecuniacards.es

Customer Service

In the event that the HOLDER considers that PECUNPAY has failed to comply with any legal or contractually agreed commitment or the Customer Attention team has not resolved the query/incidence communicated about the products and/or services provided, he/she can claim before the PECUNPAY Customer Service.

By virtue of the above, the HOLDER may file a complaint or claim before the PECUNPAY Customer Service. For these purposes, PECUNPAY makes available to the HOLDER the complaints/claims form through the PECUNPAY website, however, it can also be requested by email at servicioatencioncliente@pecuniacards.es. The document must be submitted duly completed by email to the following address: servicioatencioncliente@pecuniacards.es or by postal mail addressed to the headquarters of PECUNPAY, located at Avenida de Bruselas nº35, 28108 – Alcobendas, Madrid.

For the presentation of the complaint or claim, the HOLDER will have a period of two years from the date on which he/she became aware of the facts subject to the complaint or claim, and claims about facts that have exceeded the indicated period will not be admitted for processing.

PECUNPAY has a maximum period of 15 business days to resolve claims about payment services, to be computed from the presentation of the complaint or claim. Exceptionally, in the event that PECUNPAY cannot issue a response within the indicated period for reasons beyond its control, it will send a provisional response indicating the reasons for the delay in the response and the period in which the definitive response will be received. In any case, the period for issuing the definitive response will not exceed one month.

It is informed that PECUNPAY is not adhered to any Consumer Arbitration Board.

Finally, the HOLDER is informed that in case of disagreement with the resolution or if the period indicated in the previous section has elapsed without any pronouncement having been issued by PECUNPAY, he/she may file a claim with the Claims Service of the Bank of Spain: Bank of Spain (Department of Conduct of Entities). C/ Alcalá, 48, 28014, Madrid. https://clientebancario.bde.es/pcb/es/.

However, in the event that the HOLDER holds the status of consumer, he/she may not go to said Claims Service of the Bank of Spain if more than (1) year has elapsed since the date of presentation of the claim or complaint before the PECUNPAY Customer Service.

This clause is drafted in accordance with the provisions of the PECUNPAY Customer Ombudsman Regulations, which is available to HOLDERS on the corporate website.

The HOLDER authorizes PECUNPAY to register by magnetic, computer, electronic means, or through other means, all data, queries, circumstances of the contracts and operations carried out through any of the non-face-to-face services. The HOLDER may request a copy of the same from PECUNPAY.

In compliance with Regulation (EU) 2016/679 of the European Parliament and of the Council, of April 27, 2016, regarding the protection of natural persons with regard to the processing of personal data and on the free movement of such data (hereinafter, "GDPR"), as well as Organic Law 3/2018, of December 5, on the Protection of Personal Data and guarantee of digital rights (hereinafter, "LOPDGDD"), and the rest of the applicable regulations, you are informed that PECUNIA CARDS E.D.E., S.L.U, with Tax Identification Number B86972346 and with registered office at Avenida de Bruselas Nº 35, 28108 - Alcobendas, (Madrid) is the controller of the processing of your personal data.

PECUNPAY has appointed a Data Protection Officer, who will assist you to answer any question related to the processing of your personal data and the exercise of your rights. You can contact the Data Protection Officer to send your suggestions, queries, doubts or claims through the address: datosdpo@minsait.com.

Likewise, you are informed that your personal data (identification data, data related to personal characteristics, economic and financial data, transactions, data related to professional activity and businesses, data associated with the product and/or services contracted, as well as data related to queries and communications exchanged with PECUNPAY) will be included in the processing activities of PECUNIA CARDS EDE S.L.U. (PECUNPAY), and processed for the purpose of managing the service contracted by the HOLDER, compliance with the contractual relationship, examination and verification of personal data, identification and management of due diligence documentation, development and management of loyalty programs, notification of any type of incident that may arise during the contractual relationship, communication of possible modifications in the conditions of the Contract and, in general, those that affect the use of the Account and Card, as well as sending commercial information regarding PECUNPAY products and/or services that are similar to those already contracted that may be of interest to you -and without the HOLDER's opposition-, being legitimized for this based on the execution of the Contract, compliance with legal obligations and the legitimate interest of the controller. Likewise, in order to carry out the registration process and the complete identification of the HOLDER, the processing of your data may affect special categories of data (biometric data) collected in article 9 of the GDPR, for which, and in any case before its processing, you will be informed and it will be necessary to obtain your prior and express consent.

The HOLDER is informed that PECUNPAY will process and retain his/her personal data for the time necessary to fulfill the purposes for which they were collected or to comply with legal obligations.

Your data will be kept for the entire duration of the contractual relationship and, subsequently, for the time necessary to comply with the legal obligations corresponding to PECUNPAY and until the statute of limitations for possible legal responsibilities. By virtue of the above, once the contractual relationship has ended, your data will be kept, duly blocked, for the legally required periods in compliance with the applicable regulations, in particular, for the period of 10 years established in the applicable regulations on the prevention of money laundering and terrorist financing. After this period, your data will be securely and definitively deleted, unless there is another legal obligation that imposes a longer retention period.

Communication of data

Your data may be transferred to third parties, such as entities linked to the financial sector and bank card processing entities, for the purpose of managing the operation of our terminals, as well as to manage the operation of secure customer authentication. Likewise, your data may be accessed by third-party service providers of PECUNPAY, with which PECUNPAY has formalized the corresponding personal data processing agreement, guaranteeing legitimate and secure processing of the same, such as consultancies, personal data verification entities, external technology service providers and similar, when necessary for the management of the contracting.

Likewise, your data may be communicated to authorities and public bodies, official authorities and judicial bodies or public security forces in compliance with legal obligations and for the purpose of compelling compliance with the obligations undertaken, always within the functions that such authorities are legally entrusted with, as well as within the framework of the fight against money laundering and terrorist financing. This communication may be made to authorities and official bodies of other countries located both inside and outside the European Union (hereinafter, "EU") and the European Economic Area (hereinafter, "EEE"), in compliance with what is indicated above.

In the event that you wish to benefit from offers and promotions that you have access to through the use of our services, your data may be transferred to the entity with which PECUNPAY formalizes the agreement for the offering of said specific offer and/or service that you wish to benefit from. This transfer will be made for the purpose of managing the access, enjoyment and/or provision of the offer, promotion and/or service. Said transfer will only be made when the HOLDER has requested or accepted to participate in the offer or benefit from the corresponding service, thus constituting the data subject's consent as the legal basis that legitimizes this communication. In any case, you will be previously informed of the identity of the recipient entity of your data and the essential details of the corresponding processing.

PECUNPAY may verify the information provided by the HOLDER, assess his/her operations and check his/her solvency. For this purpose, it is authorized to collect, communicate, request and exchange information about the status of his/her accounts with other solvency files or public records, with financial entities, credit assessment companies and fraud prevention companies, as well as with the Bank of Spain. PECUNPAY may consult them periodically. These procedures are necessary for PECUNPAY in order to make the pertinent queries to comply with its obligation of analysis in matters of fraud, prevention of money laundering and terrorist financing. The HOLDER will be responsible for the veracity and accuracy of all personal data provided to PECUNPAY. Likewise, PECUNPAY informs you that it has signed a joint controller agreement with the entity DOWJONES, for the purpose of analyzing your information provided in the contracting process, specifically the information included in your KYC (Know Your Customer), in compliance with the legal obligations of PECUNPAY in matters of prevention of money laundering and terrorist financing.

Information on automated decisions

PECUNPAY informs you of the possibility that your personal data may be subject to automated decisions, related to the automatic blocking of the registration process, or the automatic blocking of the operation of the registered account and Card, specifically when: (i) the HOLDER does not complete all the personal data required in the KYC; (ii) the cross-checking of the data provided in the KYC shows that the HOLDER appears on some list that does not allow the card to be contracted; (iii) the KYC procedure has not been successfully passed; (iv) the HOLDER does not provide the additional information requested by PECUNPAY within the required period or (v) there are suspicions of fraud in the use of the card.

Exercise of rights and claims before the Data Protection Authority (Spanish Data Protection Agency "AEPD")

You may exercise the rights of access, rectification, opposition, deletion, limitation, portability and opposition to automated decision-making, as well as revoke the consent granted, where appropriate, by writing to the Data Protection Officer of PECUNPAY, by postal mail to Avda. de Bruselas Nº35, 28108, Alcobendas (Madrid); or by email to datosdpo@minsait.com. In any case, you must prove your identity by means of a photocopy of your ID/NIF.

If you consider that your rights have not been properly attended to or you consider that PECUNPAY has failed to comply with its obligations regarding the protection of personal data, you have the right to file a claim with the Spanish Data Protection Agency (https://www.agpd.es)

For more information on the processing of your data, you can consult the PECUNPAY Privacy and Data Protection Policy, available on the corporate website.

PECUNPAY, in its capacity as an Electronic Money Entity, is subject to current regulations on the prevention of money laundering and terrorist financing, in particular, to Law 10/2010 of April 28, on the prevention of money laundering and terrorist financing and its implementing regulations, as well as the rest of the applicable regulations.

The HOLDER is informed of the legal obligations incumbent upon PECUNPAY in matters of prevention of money laundering and terrorist financing, concerning the identification of the HOLDER and the real ownership, shareholding or control structure in case the HOLDER is a legal entity, economic, professional or business activities, origin of funds, as well as the requirement to apply the due diligence measures established at all times by the current legislation, among others those related to the knowledge and continuous monitoring of the business relationship.

In compliance with said obligations, the HOLDER undertakes to provide all the information that allows PECUNPAY to verify the information indicated in the previous paragraph, as well as to keep it updated during the validity of the contractual relationship, the HOLDER having to supply, in a timely manner, all the information and documentation that may be required at any time by PECUNPAY for the fulfillment of the aforementioned obligations.

In the event that the HOLDER is a natural person, and unless otherwise stated by the same, the HOLDER expressly declares that he/she acts before PECUNPAY in his/her own name and right, being recognized, for all purposes, as the REAL HOLDER of his/her relationship with PECUNPAY.

For these purposes, additionally, the HOLDER expressly agrees to assume the following obligations, authorizations and measures derived from the application of the regulations on the prevention of money laundering and terrorist financing:

The HOLDER authorizes PECUNPAY to request from any entity - whether public or private - information about the identity or activity carried out by the HOLDER;

The HOLDER must notify, without delay, PECUNPAY of any variation that occurs in his/her identification, in the identification of the real ownership, shareholding or control structure, as well as the economic, professional or business activities carried out;

The HOLDER accepts that, in the event of not properly attending to the requirements made by PECUNPAY for the fulfillment of the obligations established in matters of prevention of money laundering and terrorist financing, or if risks related to the reference regulations are appreciated, PECUNPAY reserves the right to block the operation of the card(s) and terminate the contractual relationship linking the parties immediately and without prior notice to the HOLDER, in accordance with its internal procedures and the applicable regulations.

In the event that the competent authorities require information about the HOLDER or operations carried out by him/her by virtue of the regulations on the prevention of money laundering and terrorist financing, PECUNPAY is authorized to provide said information when legally appropriate, without the need for communication to the HOLDER, in compliance with its legal obligations.

Likewise, in compliance with Royal Decree 304/2014, of May 5, which approves the Regulations of Law 10/2010, of April 28, on the prevention of money laundering and terrorist financing, it is informed that the data of the HOLDER, representative and authorized persons may be transferred to the Financial Ownership File.

This Contract shall be interpreted and fulfilled according to its own terms and, for matters not provided for, it shall be governed by Spanish legislation on the matter, the obligations and responsibilities of the parties being adjusted to it.

The parties submit to the jurisdiction of the Courts and Tribunals of Madrid Capital for any question related to the interpretation, compliance or execution of this Contract, with express waiver of any other jurisdiction that may correspond to them, unless the HOLDER holds the status of consumer, in which case the rules on determination of competence regulated in the current legislation shall apply since article 29 of the Law on Information Society Services (LSSI) establishes a presumption which consists of the following:

"Contracts concluded electronically in which a consumer intervenes as a party shall be presumed to have been concluded at the place where he/she has his/her habitual residence.

Electronic contracts between businesses or professionals, in the absence of an agreement between the parties, shall be presumed to have been concluded at the place where the service provider is established."

Parallelly article 54 of the Civil Procedure Law (LEC) establishes that:

"2º. Express submission contained in adhesion contracts, or that contain general conditions imposed by one of the parties, or that have been concluded with consumers or users shall not be valid." in correlation all of this with Royal Legislative Decree 1/2007, of November 16, which approves the revised text of the General Law for the Defense of Consumers and Users and other complementary laws ("TRLGDCU").

This Contract aims to regulate the opening of an electronic money account (hereinafter, "Account"), at PECUNPAY, in the name of the HOLDER, which is linked to a Card.

The account is associated with the Card and other electronic supports, so that every transaction, carried out through such means, will be reflected in the Account.

The PECUNPAY card, in its different modalities, physical or virtual, (hereinafter, "Card") is a MASTERCARD/VISA debit card, which allows the HOLDER to initiate payment orders to obtain goods and professional services in those physical establishments that accept MASTERCARD/VISA cards and also have a Point of Sale Terminal (POS) device.

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

Similarly, the Card will allow the performance of any other operations that PECUNPAY makes available to the HOLDER, with the HOLDER's prior express knowledge and agreement.

The card balance will not, under any circumstances, accrue interest or any other type of remuneration in favor of the HOLDER.

Geographical scope

For both the opening of the electronic money account and the issuance of the Card by PECUNPAY, the HOLDER must hold the status of resident of a country belonging to the European Economic Area (hereinafter, "EEA"), and the HOLDER may generally use it in any country both inside and outside the EEA. However, PECUNPAY may extend this geographical scope to non-resident citizens of the EEA provided they comply with the legal and regulatory compliance requirements established by Spanish and European legislation.

Likewise, it is informed that PECUNPAY may restrict, limit or block the use of the Card and associated services in certain countries or regions, in compliance with applicable regulations on international sanctions, prevention of money laundering and terrorist financing and the rest of applicable regulations, and/or for security reasons.

The issued Card is the exclusive property of PECUNPAY and must be returned to PECUNPAY in case of cancellation, expiration or when requested by PECUNPAY. The HOLDER of the Account and Card will be a natural or legal person, whose identity must appear on the Account and Card itself, which means that he/she has the right to use it.

The HOLDER authorizes PECUNPAY to open an Account, as well as for the issuance of a Card linked to the mentioned Account and assigned in the name of the HOLDER.

If the HOLDER requests additional cards, each Card may be associated with the same or a different account according to the operational model of the program to which the HOLDER subscribes. The request by the HOLDER for one or several additional cards will imply his/her consent regarding the charges that PECUNPAY makes in his/her Account as a consequence of the transactions and withdrawals made with said additional cards.

The Card will have a limited validity until the expiration date that appears on the Card itself.

In case of cancellation of the Account before said date, the Card will cease to be operational from the moment such cancellation occurs, its validity being linked to that of the associated account.

Once the Card is requested by the HOLDER and the internal security checks are passed, the Card will be issued and sent to the HOLDER within an estimated period of up to 10 business days.

The renewed Card will be issued with a new card number, which will maintain the same relationship with the original account and, therefore, will maintain its conditions of use and available balance.

Notwithstanding the foregoing, PECUNPAY reserves the right to cancel or modify the expiration date of the cards during their validity period, as well as the power not to proceed with their renewal once the expiration date is reached. In such a case, the HOLDER will lose all rights related to the use of the Card, and PECUNPAY will notify him/her through express communication via the usual channels.

For the use of the card by the HOLDER, he/she may set a limit on the amount, beyond which no funds may be withdrawn without his/her express authorization. Likewise, upon request of the HOLDER to PECUNPAY, limits may be set on the card's withdrawal for specific periods (days).

These limits may not be higher than the limits established by PECUNPAY at any given time.

The total maximum amount of transactions that can be made at any time will be determined by the amount available in the account, unless there are other more restrictive limits established by PECUNPAY for certain transactions for operational, control or security reasons. Likewise, the cash withdrawal limits established at ATMs will apply, the limits for transactions in stores, and similarly, cash withdrawals 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, the suspicion of unauthorized or fraudulent use of the same. PECUNPAY will inform the HOLDER of the blocking of the payment instrument at the email address provided by the HOLDER to receive notifications. This communication will occur prior to the blocking and, if not possible, immediately after it, unless the communication of such information is compromised for 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 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 the power that PECUNPAY holds to modify such usage instructions, in accordance with the stipulations in Clause 1.5.

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

The information regarding the terms and conditions applicable to payment services and operations will be free of charge for the HOLDER and will be accessible to him/her through the client area made available to him/her.

However, any type of additional or different information, requested by the HOLDER, will generate an expense that will be settled to him/her according to PECUNPAY's tariffs. Likewise, PECUNPAY may also pass on to the HOLDER the expenses caused by the termination of the Contract, by the revocation of payment orders and those derived from the recovery of funds for payment operations executed with an incorrect unique identifier that in each case are foreseen in PECUNPAY's tariffs.

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

Regarding transactions made with the card, the validity of the withdrawal made will be presumed according to the invoice, POS receipt, electronic registration terminals and/or transaction authorization, reading of its magnetic stripe or electronic chip or any other means of identification established in the card's conditions of use, even when the presentation of his/her national identity document, Personal Identification Number or signature is not required. The same consequences will be applicable for 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 PECUNPAY's computer files.

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, among which are; any use of his/her card, card number or PIN, without restrictive character.

All those that are duly authorized by the HOLDER of the account or are charged to him/her will be accepted 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 prior to 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 financial measures.

However, if the HOLDER does not hold the status of consumer or micro-enterprise in the terms specified in Royal Decree-law 19/2018, of November 23, he/she may not withdraw consent.

A payment order will be considered received by PECUNPAY at the moment when the HOLDER has given his/her valid consent for its execution and said order has been effectively received by PECUNPAY within its processing hours.

If the order is received on a non-business day or outside the established cut-off time, it will be considered received on the following business day. PECUNPAY will inform the HOLDER about the applicable cut-off time on its official channels.

The HOLDER's account will not be debited before the reception 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 determined period, or on the day when the HOLDER has made funds available to PECUNPAY, the moment of reception will be considered the agreed day. If this day is not a business day for PECUNPAY, the payment order will be considered received on the following business day.

Regarding payment orders initiated through the card, PECUNPAY will receive the payment order on the same day they are made by its HOLDER, they will be executed immediately from the moment of their reception. However, in certain establishments (e.g., highways, parking meters, etc.), the executed payment orders may be debited in the account associated with the card after the date of their execution.

PECUNPAY will credit the HOLDER's account with the full amount of the operation received in his/her favor. However, PECUNPAY may deduct its expenses from the transferred amount before its credit in the Account.

a) For payment operations in euros, as well as for national payment operations in the currency of a Member State of the European Union that is not part of the euro area, and likewise, regarding payment operations that only involve a currency conversion between the euro and the currency of a member state that is not part of the Euro area, provided that the corresponding conversion is carried out in the member state that is 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 regarding the maximum execution period for payment operations will apply:

When PECUNPAY is the payment service provider of the payer, after the moment of reception of the order, it will ensure that the amount of the payment operation is credited to the account of the payment service provider of the beneficiary, at the latest, by the end of the following business day.

b) For payment operations not contemplated in the previous letter, PECUNPAY may extend the execution period of the operation which, in any case, will not exceed four business days from the moment of reception of the payment order.

The value date of the debit in the account of the HOLDER ordering the operation will not be earlier than the business day on which the amount of the payment operation is debited from said account.

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

The HOLDER will obtain rectification from PECUNPAY of an unauthorized or incorrectly executed payment operation, only if the HOLDER communicates it without undue delay, as soon as he/she becomes aware of any of said operations that is the subject of a claim, including those covered by section 2.6.8. of this document, and, in any case, within a maximum period of thirteen (13) months from the date of the debit.

When the payment service user is not a consumer or a micro-enterprise in the terms established in Royal Decree-law 19/2018, of November 23, on payment services and other urgent financial measures, the period indicated as the maximum period for obtaining the rectification of an unauthorized or incorrectly executed payment operation only if the payment service user communicates it without undue delay, as soon as he/she becomes aware of any of said operations referred to in the previous paragraph, will be 10 calendar days.

The deadlines for notification established in the previous paragraph will not apply when PECUNPAY has not provided or made available to him/her the information about the payment operation.

The Unique identifier is the combination of letters, numbers or signs assigned by PECUNPAY to the HOLDER for the unambiguous identification of the same or his/her account or payment card in a payment operation.

For these purposes:

a) The HOLDER's Unique Identifier for the identification of his/her account will be the IBAN (International Bank Account Number);

b) The HOLDER's Unique Identifier for the identification of his/her card will be the card numbering (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.

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 financial measures.

This article establishes that, if a payment operation is not executed or is executed incorrectly, the payment service provider is responsible for correcting the situation and returning the corresponding amount to the user, restoring the account to the state it would have been in if the operation had been carried out correctly. Furthermore, in cases of unjustified delay in the execution of a payment operation, the provider must ensure that the value date of the credit is not later than the one that would have corresponded if the operation had been executed correctly.

If an unauthorized payment operation made with the Card is executed, PECUNPAY will refund the amount immediately and, in any case, no later than the end of the business day following the one on which it has detected or been notified of the operation. This refund will not apply if PECUNPAY has reasonable grounds to suspect fraud or gross negligence on the part of the HOLDER, in which case it may withhold the refund while the pertinent investigation is carried out.

The Card HOLDER may be liable, up to a maximum limit of fifty (50) euros, for losses derived from unauthorized operations carried out with a lost, stolen or misused payment instrument, unless it would not have been reasonably possible for him/her to detect its loss, theft or misuse before the payment, or if this fact were attributable to the action or omission of PECUNPAY or its employees.

The HOLDER will be fully responsible for all losses in case he/she has acted fraudulently or with gross negligence, or if he/she has deliberately breached any of the obligations established in these Terms and Conditions.

The HOLDER must communicate to PECUNPAY without undue delay any unauthorized or incorrectly executed payment operation, as well as any error or irregularity detected.

Said notification must be made at atencionalcliente@pecuniacards.es indicating the operation reference, the date of the credit or debit and the affected account number.

Claims will not be accepted after thirteen (13) months from the date of the corresponding debit or credit.

Once the lack of authorization has been verified, PECUNPAY will proceed to the immediate rectification of the operation.

The HOLDER must pay, in advance, a sufficient amount to the recharged amount. The accounts may be recharged as many times as desired up to the limit assigned by the HOLDER or by PECUNPAY.

The HOLDER may recharge the account through the following channels, when they are enabled in the contracted offer:

1. Within the mobile application corresponding to each product, through a recharge POS (Virtual).

2. By bank transfer.

3. Through any other procedure that may be established by PECUNPAY.

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 pertinent entry in the HOLDER's account.

The account may not reflect a negative balance derived from the operations carried out by the HOLDER, so he/she will be obliged to have sufficient balance for each operation requested.

If for any reason (for illustrative, but not limiting purposes, some technical error attributable to PECUNPAY or any of its external providers) the HOLDER has a negative balance in his/her account, he/she agrees to immediately recharge the account in an amount sufficient to satisfy the economic obligations derived 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 in accordance with Clause 1.2.3:

1. PECUNPAY may initiate a chargeback procedure for any specific transaction that leads to his/her account having a negative balance;

2. PECUNPAY may adopt the measures it deems appropriate to claim the debt out-of-court or judicially. The HOLDER will be obliged to pay and compensate PECUNPAY for any damages, losses, expenses of any nature (including court costs) generated to PECUNPAY due to breach of the Contract or due to the management that PECUNPAY has carried out for the collection of the credit. For illustrative, but not limiting purposes, the HOLDER will be obliged to bear: the expenses derived from the actions that PECUNPAY carries out and that aim to claim the debt (payment requests by mail, telephone, notarial or other means), as well as those derived from judicial or extrajudicial proceedings (lawyers' fees, Attorney tariff rights, etc.).

The HOLDER may check the available balance of the account on the website, in the "client area" section, in the mobile Application corresponding to each product, as well as by SMS when enabled.

No store or establishment may inform you about the balance of your account.

Likewise, balance inquiry at ATMs is not available.

THE HOLDER agrees to cooperate with all requests made by PECUNPAY or any of its external service providers on its behalf in relation to his/her account to identify or authenticate his/her identity or validate his/her funding sources or transactions. This may include, among others, requesting additional information that allows PECUNPAY to reasonably identify him/her, even requiring him/her to take steps to confirm ownership of his/her telephone number or his/her payment instruments or verify his/her information against third-party databases or through other sources.

PECUNPAY reserves the right to close, suspend or limit access to his/her account and/or to the Payment Services in the event that it cannot obtain or verify such information or that he/she does not comply with its requests as established in the previous paragraph.

PECUNPAY may verify, confidentially, the information provided by the HOLDER or obtain information about him/her or through third parties from secure databases. The HOLDER confirms that he/she gives his/her consent to PECUNPAY or a third party on its behalf to carry out such verifications.

THE HOLDER must ensure that the information in his/her account is always accurate and up to date. If at any time PECUNPAY believes that his/her information is outdated or inaccurate, it may contact the HOLDER and request more information or request that he/she perform the verification process again. PECUNPAY will not be responsible for any loss arising from his/her failure to maintain updated information.

The opening of the electronic money account and the issuance of associated cards are strictly reserved for natural persons over 18 years of age and legal entities duly constituted in accordance with applicable legislation.

The HOLDER declares and guarantees that he/she meets this age requirement. In the event that the HOLDER is a legal entity, the representative declares that he/she has the necessary powers for the formalization of this Contract. If it is detected that the Account has been opened or the Card has been issued in favor of a minor, PECUNPAY may proceed to the immediate cancellation of the contract and associated services, without prejudice to the legal actions that may arise. Additionally, PECUNPAY will not be responsible for the breach of this obligation to the extent that it has observed the legally required precautions to verify the identity and circumstances of the HOLDER.

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

The exchange rate to euros on the currency will be increased by the commissions that PECUNPAY has established for operations carried out abroad.

The HOLDER will submit to the current legislation that regulates the limits set by the competent monetary authorities for expenses abroad, as well as the regime on exchange control and on the declarations that he/she is obliged to make. The HOLDER will be responsible for the breach of said regulations, and no liability can be attributed to PECUNPAY. The expenses incurred, if any, must be justified by the HOLDER before the authorities that require it, and no liability can be attributed to PECUNPAY for the HOLDER's non-compliance.

2.13.1 Authentication requirements

In accordance with the provisions of Directive (EU) 2015/2366 on payment services (PSD2) and Delegated Regulation (EU) 2018/389, PECUNPAY implements Strong Customer Authentication mechanisms (hereinafter, "SCA") to guarantee security in accessing the electronic money account and in the execution of payment operations with the Card and/or electronic money account.

2.13.2. Definitions

For the purposes of this clause, the following is understood by:

- Strong Customer Authentication (SCA): authentication process that requires at least two elements from among the following factors:

- Knowledge: something only the HOLDER knows (e.g., password or PIN).

- Possession: something only the HOLDER possesses (e.g., a registered mobile device, security token, or one-time code –OTP–).

- Inherence: something that is inherent to the HOLDER (e.g., fingerprint or facial recognition).

The factors must be independent of each other and designed to protect the confidentiality of the process.

- Sensitive data: any information that, if compromised, could jeopardize the security of the account or payment means, including: CVV, PIN, access credentials, email, telephone number, card number, among others.

2.13.3. Authentication factors

The verification of the HOLDER's identity through the SCA system is based on the combination of at least two of the following factors, as indicated:

- Knowledge: something only the HOLDER knows (e.g. password or PIN).

- Possession: something only the HOLDER possesses (e.g. registered mobile device, security token, or OTP code).

- Inherence: something that is inherent to the HOLDER (e.g. fingerprint or facial recognition).

PECUNPAY will never request by email, telephone or other means any of the mentioned authentication factors. The HOLDER must ignore and report any suspicious communication requesting this type of information.

2.13.4 Protection of Sensitive Data

The following, among others, are considered sensitive data of the HOLDER:

• CVV.
• Expiration Date of the payment elements (cards and similar)
• PIN of the payment elements.
• Passwords and access credentials.
• Terminals and digital elements where the app or apk is installed
• OTP codes or one-time use passwords.
• Email.
• Mobile phone number.

PECUNPAY will store said data in encrypted form and only for the time strictly necessary for the provision of the service. The PECUNPAY application uses secure communication channels (SSL/TLS) that guarantee the integrity and confidentiality of the transmitted data.

With the issuance of the Card, PECUNPAY will provide a Personal Identification Number (PIN), which the HOLDER, where applicable, can modify and which will be required in any use of the card by the provider of the good or service, in order to prove that he/she is its legitimate HOLDER.

Said PIN will be requested by the HOLDER through the PECUNPAY website, in the "client area" section or through the Mobile Application, corresponding to each product.

In the event that operations can be performed without typing the PIN (for example, in contactless transactions), it will be with certain limits that PECUNPAY will determine at all times. In these operations, the approximation of the Card to ATMs, POS or other collection equipment will be understood as authorization and confirmation of the operation by the HOLDER. The registration of the operation in said equipment will serve as proof of the performance of the operation, unless technical failures or incidents have occurred. PECUNPAY is not responsible for incidents that may occur with merchants. Thus, PECUNPAY will not be responsible for charges made by third parties if you have breached your obligation to diligently safeguard the Card or any other physical element in which your Payment Card is housed. The numbers (PIN) are non-transferable personal identification systems that must be for your exclusive knowledge as the HOLDER and must be kept under your control. The HOLDER has the obligation to diligently safeguard the mobile phone for this purpose and to report, where applicable, the loss or theft of the mobile device to PECUNPAY.

PECUNPAY uses card security systems for its use as a means of payment through the Internet.

PECUNPAY reserves the right not to allow the use of cards through the Internet or equivalent channels that require analogous security measures when said cards have not been properly secured. As the Card HOLDER, you may have, with the same effects as the withdrawals made through the Card, Digital Wallets or Wallets that will be used as a means of payment. PECUNPAY will apply strong authentication through the use of at least two authentication factors, as established by the current payment services regulations.

The HOLDER undertakes to:

• a) 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.
• b) Fulfill all obligations that derive from this contract for him/her.
• c) Accept as proof of the operations those related above, whether carried out by the HOLDER, or by third parties, with or without authorization from the former.
• d) Immediately communicate to PECUNPAY any irregularity in the records of operations that appear to have been made in his/her account.
• e) Be responsible for the veracity of the data and information provided, as well as for keeping his/her data updated.
• f) Comply, in a timely manner, with the requirements made by PECUNPAY.
• g) Sign the card immediately if there is a space enabled for this purpose.
• h) Use only secure devices to access the application.
• i) Guarantee the confidentiality of credentials and especially, not to communicate or share sensitive information nor the authentication elements and to keep the Personal Identification Number (PIN) and CVV secret and, in general, to protect any customized security credential. For this purpose, he/she undertakes not to share or disclose his/her credentials to third parties by any means and/or channel and to adopt the necessary measures to prevent unauthorized access and uses.
• j) Guarantee the security of the use and disposal of the card being the sole responsible for its custody.
• k) Regularly review the transactions made and report any suspicious activity.
• l) Use only secure devices to access the application. The HOLDER undertakes to maintain a minimum adequate level of security by applying the security patches and updates available at all times.
• m) Take the necessary precautions to avoid the loss, misplacement, theft, fraudulent use, misappropriation or forgery of the Card. In such cases, he/she must turn off/block the card from the mobile application corresponding to the product and notify PECUNPAY immediately, through the telephone number that appears on the Pecunpay website or by writing to the email atencionalcliente@pecuniacards.es
• n) Take the necessary precautions to prevent unauthorized access, loss, theft and misuse of his/her account and card, credentials and authentication elements. In the event that any of the mentioned circumstances occurs or he/she suspects that any of the indicated elements is compromised, he/she must proceed to change said element/s and communicate it immediately to PECUNPAY, through the telephone number that appears on the Pecunpay website or by writing to the email atencionalcliente@pecuniacards.es.
• o) Treat the mobile terminal, Tablet or support where the application or apk is installed as an authentication element and as such, with the same diligence as these, following the same precautions as for the authentication elements.
• p) Destroy or deliver to PECUNPAY the card that has expired or been replaced, by sending it by ordinary mail to the following address: Avda. de Bruselas Nº35, 28108, Alcobendas (Madrid).
• q) Be responsible to PECUNPAY for the breach of all obligations that derive from this contract for the HOLDER.

PECUNPAY reserves the right to take appropriate actions in case of breach of any of these obligations.

PECUNPAY undertakes to:

• a) Cancel expired cards, as well as those reported as destroyed, stolen or lost.
• b) Guarantee the confidentiality of customized authentication data (such as the Personal Identification Number -PIN-), without prejudice to the HOLDER's obligation to safeguard and keep said data secret.
• c) Protect the HOLDER's personal and financial data through advanced security measures.
• d) Inform the HOLDER about the operation, status of the accounts, movements made through the card by issuing statements and resolve any doubts and controversies that may arise through the channels provided for this purpose.
• e) Refrain from sending payment instruments that have not been requested, except in the case where a payment instrument already delivered to the payment service user must be replaced, upon request.
• This replacement may be based on the incorporation of new functionalities into the payment instrument, not expressly requested by the HOLDER. This replacement will be free of charge for the HOLDER.
• f) Guarantee the availability of the application.
• g) Take reasonable measures to guarantee the integrity, confidentiality and correct execution of payment transactions.
• h) Guarantee that at all times adequate and free means are available that allow the payment service user to make the communication in case of loss, theft or misappropriation of the payment instrument or its unauthorized use.
• i) Guarantee that at all times adequate and free means are available that allow the payment service user to request the unblocking or replacement of the payment instrument, in case the reasons for blocking its use have ceased.
• j) Prevent any use of the payment instrument once the HOLDER has notified it of the loss, theft or unauthorized use of the payment instrument (as provided in clause 2.15 m) and n).
• k) Notify the HOLDER of security incidents that directly affect his/her data, confidentiality or cause any type of direct harm to the HOLDER. Likewise, it is informed that PECUNPAY will communicate said incidents to the authorities when appropriate by virtue of the applicable regulations.
• l) The fulfillment of all obligations that derive from the Contract for PECUNPAY and as a regulated entity based on Royal Decree-law 19/2018, of November 23, on payment services and other urgent financial measures.

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

The use of the PIN by a person other than the HOLDER presupposes gross negligence or, where applicable, fraud on his/her part.

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

PECUNPAY will also remain unrelated to the incidents and responsibilities that may derive from the operation carried out between the establishment and the Card HOLDER.

PECUNPAY excludes, from its scope of application, the Visa Global Zero Liability Policy, submitting to the current European regulations on the matter.

In case of unauthorized payment operations, the HOLDER's liability regime, regulated in article 46 of Royal Decree-law 19/2018, of November 23, on payment services and other urgent financial measures, will apply.

Finally, only euro balance can be deposited in PECUNPAY accounts.

In those cases where the HOLDER contracts the product or service through a Pecunpay Client, said Client may initiate automatic debits in its favor on the HOLDER's account, according to the contracted offer and as contractually agreed between Pecunpay and the corresponding Client.

These debits may be recurring, for a specific amount and executed automatically.

PECUNPAY will only execute said debits when there is express, valid and current consent from the HOLDER granted through the Client, in the terms authorized and verifiable by this Entity. Likewise, the Client will be responsible for ensuring that said consent has been correctly obtained and remains in force throughout the contractual relationship.

PECUNPAY will refund, at any time, exclusively at the request of the HOLDER, the monetary value stored in his/her Account. In any case, the HOLDER must send PECUNPAY a refund request together with the original of the card through the channels enabled for this purpose.

The electronic money, by default, will be refunded by bank transfer to the account provided by the HOLDER for this purpose. Likewise, and at the HOLDER's choice, it may be refunded by issuing a new electronic money card, in accordance with the commission tariff approved by PECUNPAY, in the name of the HOLDER. In both cases, the HOLDER will assume the expenses generated as a consequence of the refund and the accrued commissions.

PECUNPAY is solely responsible for the veracity 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 the event that there were discrepancies in the requested information.