OKTOPAY UK LIMITED

CONSUMER TERMS AND CONDITIONS UK

1. Why you should read these terms and conditions
1.1. This Agreement sets out the Terms and Conditions for the OKTO Consumer e-wallet and the related provision of Services within the United Kingdom.
1.2. These Terms and Conditions constitute an agreement (the “Agreement”) which is entered into between OKTOPAY UK LIMITED, a company incorporated in England (company number: 13003314) with registered office at 20 Ashfield Road, Leicester, England, LE2 1LA (“we”, “us””) and you (the “Consumer”).
1.3. We act as an EMD Agent of PayrNet Limited, a company incorporated in England and Wales (company number: 09883437) with its registered office at “PayrNet, WeWork, 3 Waterhouse Square, 138 Holborn, London, EC1N 2SW, UK” authorized as an Electronic Money Institution (“EMI”) by the Financial Conduct Authority under the Electronic Money Regulations 2011 (“EMR 2011”) (register reference 900594) for the issuing of electronic money.
1.4. Please read this Agreement carefully before you agree to it, as its terms apply to the Services. The Agreement explains many of your responsibilities to us and our responsibilities to you, how and when this Agreement can be terminated and the extent of our liability to you. If there are any terms that you do not understand or do not wish to agree to, please contact us. You should only use the Services and agree to the terms of this Agreement if you agree to be bound by this Agreement.
1.5. This Agreement is concluded in English language and all communications between you and us shall be in English only. By accepting this Agreement, you confirm that you understand this language, do not have any objections for this language being used as a language of contractual relations between you and us and agree to be bound by this Agreement in the language that it is drafted in.
1.6. You can contact us at support@oktopay.eu. You may request and we shall provide a copy of this Agreement at any time. This Agreement will be also available on the Website.
1.7. We will contact you by writing to you at the email address(es) you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us. We may also provide notices or other information to you from time to time through our Website (including the posting of information accessible to you after your Account login). Notices sent by email or made through our Website shall be deemed to have been received 24 hours after the time of remittance of email or of posting to the Website.
1.8. This Agreement shall be read along with Payrnet Limited Terms and Conditions for Consumers Electronic Money Accounts, which are available here.

2. Glossary

“Account” or “OKTO e-wallet” or “OKTO Account” or “OKTO Consumer e-wallet” is the e-money payments account you have opened with us in your name which you will be using in accordance with the terms and conditions of this Agreement.

“Agreement” means this agreement and all policies supplementing this Agreement, including the OKTO Privacy Policy, the OKTO Complaints Handling Policy, the OKTO KYC/AML Levels and Limits and the OKTO Consumer Services Pricing a copy of which is available on our Website, as well as all subsequent amendments thereof.

“Available balance” the amount of e-money held in your OKTO e-wallet.

“Business Day” means a day when the clearing banks in England or other jurisdictions where the Services are provided, are open for business, excluding Saturdays, Sundays and public holidays in England or other jurisdictions where the Services are provided.

“Consumer” means any natural person, who enters into this Agreement acting for purposes other than a trade, business or profession.

“Electronic Money” means electronically, including magnetically, stored monetary value as represented by a claim on the issuer, which is issued on receipt of funds for the purpose of making payment transactions and which is accepted by a natural or legal person other than the issuer of electronic money. The electronic money shall not constitute a bank deposit and shall bear no interest. For the purposes of this Agreement, any value stored in your OKTO e-wallet is electronic money and the issuer is Payrnet Limited. The terms “E-money”, “money” and “funds” are used interchangeable in this Agreement.

“IBAN” is the International Bank Account Number, a standard international numbering system that identifies your Account.

“Merchant” or “Seller” is any retailer with physical or online shop, who is providing goods and/or services and is using the Services to receive payments through the OKTO e-wallet.

“OKTO App” is a mobile application through which you may access the Services.

“Services” means the payment services related to your OKTO Account performed by us according to the terms and provisions of this Agreement, including opening and closing an e-wallet, viewing your e-statements, checking the Available Balance and Transaction history as well as executing payments, as these are accessed through the OKTO App.

“Transaction” is an action performed or permitted by you which results to money entering or leaving your Account.

“Website” means our website from time to time, currently www.oktowallet.com.

“Writing” means in written form including email.

3. TERM AND BECOMING A CUSTOMER
3.1. You can agree to this Agreement and open an OKTO Account if you are 18 years of age and over, resident of the country where the Services are available, and you have the full capacity to enter into a contract.
3.2. This Agreement shall remain in force until terminated in accordance with its terms.
3.3. Even in the absence of any notification to us, this Agreement is also applicable to any other person (legal or natural) you grant permission to use your Account. In any case, you remain liable against us for any action or omission performed by these persons.

4. SERVICES
4.1 Our provided Services are displayed in our Website. Additional (new) or amended features or Services may be provided at any time. You may be notified of any such event, but it remains your responsibility to regularly check the Website for such additions or amendments.
4.2 We offer personal accounts for consumers

5. YOUR OKTO E-WALLET
5.1 Your OKTO e-wallet is a e-money payment account opened by us in your name that holds e-money. The e-money payment accounts can only be opened in Sterling (GBP) currency.
5.2 Through your OKTO e-wallet you can do the following:
o Hold, send and receive funds.
o Redeem money by sending it to your bank account.
5.3 You should never allow anyone to operate your OKTO e-wallet on your behalf. All activities carried out in your OKTO e-wallet are deemed as activities carried out by you and you represent and warrant that you are the sole beneficiary of the OKTO e-wallet.
5.4 You may only open one OKTO e-wallet.

5.5 You can maintain balances in your OKTO e-wallet however you will not receive any interest. Instead of protecting your money in a deposit guarantee scheme which does not apply to our services, your money is safeguarded by the E.M.I. as under 5.6 described

5.6  When money is received from you for the Services, the EMI, in accordance with article 7.4. below, will issue the equivalent value of e-money and place it in your e-wallet. The equivalent money received from you are deposited into a pooled safeguarding client account with a bank in the European Union, separated from the EMIs own money. This means that, in case of insolvency, your e-money will not be used against payment of the company’s liabilities. Your money is safe and protected in accordance with the Electronic Money Regulations which are designed to ensure the safety of funds held in electronic money accounts.

5.7 Unlike banks, there is no lending out customer money.

5.8 You may hold Electronic Money indefinitely. However, if there is no activity on your OKTO e-wallets for more than two (2) years, we shall use reasonable endeavours to contact you to redeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, the Electronic Money may be redeemed and the corresponding funds may be sent, less any of our costs incurred, to the last known bank account.

5.9 You can view your OKTO Account statement by logging into your OKTO Account. All your Transactions (money received, redeemed or sent) together with all applicable fees and charges will appear in the transaction history section of your OKTO e-wallet. You can access the transaction history when you log in to your OKTO Account and select the transactions tab/button.

6. OPENING AN OKTO E-WALLET
6.1 When requesting to open an OKTO e-wallet, you will need to accept all required terms and conditions and provide with the following information for opening a Basic Account with strict limits:

• A valid and active email address which is legitimately assigned to you and validated via a one-time password (OTP)
• Mobile phone number to which you are the legitimate holder, and which is validated via a one-time password (OTP)
• Identification data (name, date of birth, id number)

6.2 You may need to upgrade your Basic Account to Standard, Premium or Platinum Account in order to be able to use the full Services and to increase your Account limits. This means that you will be required to provide us with further information, including a photo of your National ID card or Passport, a selfie and a photo of a recent utility bill that confirms your permanent resident address.
6.3 Specifically for the Platinum Account, we may request additional documentation to construct the economic profile and where necessary, to identify the sources of your income. For further details on the upgrade of the Basic Account, please read the OKTO KYC/AML Levels and Limits set forth on the OKTO Website.
6.4 To assist us with meeting our obligations, we may carry out an electronic verification check via third party providers in order to verify your identity. If such searches are carried out, we may keep records of the contents and results of such searches in accordance with all current and applicable laws.
6.5 In relation to the email address that you have designated and registered with:
o You guarantee that you are the beneficiary and lawful user of this email address.
o You are obliged to take all necessary measures to avoid unauthorised access and use of this email address and you recognize that any communication through the use of this email address is considered deriving, addressed to and received by you.
6.6 We may, from time to time, make available to you other methods or procedures for you to become of verified status in order to be able to receive our Services through an OKTO Account. Such methods will be provided on the Website or sent to you by email.
6.7 You agree to comply with any further request from us for additional information for this purpose and that you will provide this information promptly.
6.8 It is important to keep your details up to date and let us know immediately if any information you have given us has changed. This is necessary to avoid possible disruption to your Account services. We cannot be responsible for any financial loss arising out of your failure to do so. We will ask you from time to time to confirm the accuracy of your information and in some cases ask you to provide additional supporting documents.
6.9 The balance in your Account should always be positive or zero. If your OKTO e-wallet goes negative as a result of a reversal of a Transaction, deduction of fees or any other action, you undertake to repay the negative balance immediately without any notice. In case you fail to do so, we may use a debt collection service or take legal actions. We will charge you for any costs we may incur as a result of additional efforts with regards to the collection of the amount you owe to us.

7. ADDING MONEY TO YOUR OKTO E-WALLET
7.1 Each time you want to add money to your OKTO e-wallet (top up), you may select the funding source of your preference. You can use a debit card that you have registered with us. The debit card you will use to top up your OKTO e-wallet must be in your name, and you must be the sole beneficiary of this funding source. You can also add money to your OKTO e-wallet by making a bank transfer.
7.2 If you use a debit card to top up your Account, the card provider may charge you a fee. Please note that we do not accept cash or cheques for the funding of your OKTO e-wallet.
7.3 All debit card holders are subject to validation checks and authorization by the card issuer. We are not responsible if the issuer of your payment card refuses to authorize the top up of your Account. In this case, no money will be added to your OKTO e-wallet.
7.4 If you add money to your OKTO e-wallet, the equivalent amount of e-money in Sterling (GBP) will be credited to your OKTO e-wallet one (1) to three (3) Business Days after topping up your OKTO Account via bank transfer and one (1) to eight (8) Business Days after topping up your Account with the use of a debit card.
7.5 Please keep your funding information (i.e., debit card number and expiration date) up to date. You accept that the credit institution (or intermediary involved in the process) may reverse any part of the funds, for any reason; as a result, we shall immediately reverse the respective amount from the OKTO e-wallet net of any transfer fees or other charges, using the same transfer method as the one through which you originally added the funds.
7.6 Limitations may be imposed on the funding sources that will be available to you when adding money to your OKTO e-wallet in order to mitigate the potential risk linked with the use of certain funding sources. Any such limitation will be communicated to you before a payment Transaction is executed, at which time you will be asked to provide an alternative funding source (for example use of bank transfer as opposed to a debit card).
7.7 Limitations may be also imposed regarding the topping-up of your OKTO e-wallet, in order to comply with applicable anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation, including mainly the anti-money laundering legislation. Any such limits set can be viewed in your OKTO e-wallet details.
7.8 We impose limits on the amount you want to add to your e-wallet for legal and security reasons in accordance with the OKTO KYC/AML Levels and Limits, to which you agree to be bound. In case you want to add more money than your limit, you can upgrade your Account, and you will be requested to provide us with some additional information and documentation.

8. RECEIVING MONEY IN YOUR OKTO E-WALLET
8.1 Receiving money in your OKTO e-wallet can take place as follows:

• Through the OKTO e-wallet of the payer to your OKTO e-wallet (user to user Transaction)
• Through verified bank account transfers (internet banking, phone banking etc.).

8.2 When you receive money, the Transaction will appear in the transaction history of the OKTO App and will be added to your Available Balance. In order to receive funds from a third party who does not have an OKTO Account through verified bank account transfers, the third party must provide all the necessary information for the remittance of funds, including the identity of the recipient-you (i.e. name and surname of the OKTO Account holder who shall receive the funds, reference number or any other information requested). Should the remittance of funds towards you does not fulfill all legal, compliance or other requirements such as the abovementioned, the transaction may be suspended until all necessary information is collected or cancel the transaction. If the remittance transaction is cancelled, the remitted funds will not be credited to your account, and the remitted funds will be sent back to the sending third party account, after all expenses or costs occurred during the transaction have been deducted.
8.3 Notifications that you are the recipient of e-money do not constitute a confirmation that the balance has been cleared and has become available. You acknowledge and agree that a Transaction is completed, even if it becomes subject to a reversal for reasons stated in this Agreement.
8.4 Limitations may be imposed regarding the receipt of money in your OKTO e-wallet, in order to comply with applicable anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation, including mainly the anti-money laundering legislation. Any such limits set can be viewed in your OKTO e-wallet details.
8.5 We impose receipt limits on all Accounts in accordance with the OKTO KYC/AML Levels and Limits, to which you agree to be bound. In case you want to receive more money than your limit, you can upgrade your Account, and you will be requested to provide us with some additional information and documentation.
8.6 We are entitled to review all Transactions and will do so regarding Transactions of higher-than-normal risk. Such reviews will mainly occur when there is reasonable suspicion that a Transaction may involve a restricted activity. Should the Transaction be deemed as problematic, the payment Transaction will be reversed and the e-money will be placed back to the sender’s balance. We may provide notices to you by email. A payment is subject to review for the sole purpose of minimizing risks related to it. The review should not be construed as demeaning or discriminant in any way.

9. SENDING MONEY FROM YOUR OKTO E-WALLET
9.1 Once you submit a payment order, we consider that you have given consent and authorized us to perform the Transaction, to debit your OKTO e-wallet and to credit the account of the person you are sending money to. The recipient’s account will be credited after one (1) to three (3) Business Days. You have the option to send money in Sterling (GBP) .
9.2 You need to have enough available funds in your OKTO e-wallet to cover the amount of any Transaction you make plus any additional fees.
9.3 When making a transfer, make sure that the details of the person you want to pay are correct. If they are not, the payment may be delayed, or you may lose your money if you send it to the wrong OKTO e-wallet. We are not responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee you that these efforts will be successful.
9.4 You can also send money from your OKTO Account to Merchants, by selecting (click) the relevant button (“Pay with OKTO”/or any other corresponding word or phrase) at the Merchant’s website or by following other checkout options that permit you to provide us with payment instructions. You may also use alternative methods as they may be instructed, from time to time, when you are in the process of submitting a payment instruction. You shall complete all the required information (mandatory fields) in the relevant payment process and make the payment order by using your OKTO Account.
9.5 By sending funds to a Merchant, you enable the Merchant to process and complete the Transaction. Despite your action and the immediate availability of the e-money to the Merchant, a Merchant may choose to delay the processing of the Transaction for reasons unbeknown to us.
9.6 We have no control over the products or services that are paid for with the OKTO Services, as we only act as independent intermediaries. The lack of control denotes that we cannot confirm the legality and do not assume the responsibility and potential liability stemming from the legality of the products or services that are paid for with/ through the use of the Services.
9.7 Sending money from your OKTO e-wallet may be subject to limitations put in accordance with the anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, as a means to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation including mainly the anti-money legislation. Any such limits set can be viewed in your OKTO e-wallet details.
10.6. We impose sending limits on all Accounts in accordance with the OKTO KYC/AML Levels and Limits, by which you agree to be bound. In case you want to send more money than your limit, you can upgrade by completing the necessary steps set out in the OKTO Account and Limits, and you will be requested to provide us with some additional information and documentation.

10. WITHDRAWAL/REDEMPTION OF ELECTRONIC MONEY
10.1 You can redeem the money from your ΟΚΤΟ e-wallet by transferring the relevant funds directly to a bank account in your name and convert them into cash money.
10.2 When you give us instructions to transfer any amount from your OKTO balance, you agree that you authorize us to transfer the Electronic Money to the bank account in your name within one (1) to three (3) Business Days. As a result of a successful execution of the redemption, your OKTO Account balance shall be reduced equally to the amount that has been redeemed. Currency conversion is not available for now.
10.3 In certain situations, we may delay or suspend a redemption of Electronic Money to comply with the anti-money laundering and other legal obligations, to protect you, other consumers, and us from loss or if we need to confirm that you are the one who has authorized the redemption.

11. PAYMENTS SENT TO WRONG ACCOUNTS; NOT SENT AT ALL OR DELAYED
11.1 Where a Transaction is initiated directly by you, we will try to process your payment correctly and timely, but sometimes things go wrong, and a payment might be delayed, not be of correct amount or not received by the person you wanted to pay.
11.2 If a person has not received the money you have sent him/her, we will not be responsible if we have processed the payment correctly, but you gave us the wrong details.
11.3 If the payment you initiated was not received or delayed, let us know by sending an email to support@oktopay.eu without undue delay on becoming aware of any such event and no later than 13 months after the date on which the amount was sent from your Account.
11.4 If a person has not received the money you have sent him/her, due to a reason we consider is our mistake, we will refund the amount back into your Account including any charges paid as a result.

12. REFUSAL OF EXECUTION OF A TRANSACTION
12.1 We may refuse to perform any type of Transaction in the following cases:
a. You do not have enough Available Balance.
b. You do not provide us with all mandatory information requested in a payment instruction.
c. The transaction exceeds you’re Account limits
d. We have a reason to believe that the activity is in breach of this Agreement.
e. If we have a legal or regulatory obligation that prevents us from making the payment or if we are required to perform further checks.
f. If a third party prevents us from making the payment.
g. If you owe money to us and we need to repay the amount owed by you, as provided in clause 16.3 herein.
h. If your Account has specific restrictions.
i. If your Account is blocked for any other reason.
12.2 Provided it is not prohibited by any applicable law, we may be required to provide information as to the reason of refusal and any remedial action you may take to resolve the refusal issue if possible.
12.3 You agree that we may also suspend the execution of a Transaction, which based on available information at the time, can be reasonably deemed as above acceptable risk levels, and you will be notified for such action. Should the excessive risk be eliminated, the suspension will be lifted allowing the execution of the Transaction.
12.4 Invalidation of a Transaction by means of reversal or cancelation, or suspension of a Transaction does not release you from any liability towards us and you will remain liable for any amount due to us plus any fees that relate to the Transaction.

13. REFUNDS TO YOUR OKTO E-WALLET
13.1 In the case of a refund of a payment, you agree to bear the fees charged for the processing of the initial payment.
13.2 You are not entitled to a refund if:
a. The personalized security credentials, are lost, stolen or misappropriated. For unauthorized payments where we believe you should have been aware of the loss, theft or unauthorized use, you will be liable for the first 35 GBP. We will not hold you liable for the first 35 GBP if the unauthorized payment was caused either by us, or a third party carrying out activities on our behalf. Your liability for the first 35 GBP also does not apply to any unauthorized transactions made after you have notified us that your OKTO e-wallet may have been compromised,
b. if we believe you have acted fraudulently,
c. if you do not quickly notify us for the loss, stealing or unauthorized use of your security credentials or access to your OKTO Account,
d. if the payment transaction was unauthorized but you have acted with intent, gross negligence or without due diligence,
e. if you don’t let us know about the unauthorized or incorrectly completed Transaction within thirteen (13) months from the date of the payment Transaction.
13.3 We will try to rectify all errors that may originate from our system, except if you tried to execute the erroneous Transaction at a time that it was known to users that the system was not properly functioning, either due to maintenance or unresolved technical issues.

14. IF SOMEONE STEALS MONEY FROM YOUR OKTO E-WALLET
14.1 If you have a reason to believe that someone has stolen money from your Account, you need to let us know as soon as possible and no later within 13 months from the date the money was taken from your Account.
14.2 We will pay the money back into your Account if any of the following applies:

• There was no way to know that your security credentials were at risk of being misused.
• The payment happened because of our mistake.
• The payment was made after you told us that someone knew your security credentials or if we didn’t give you a way to tell us about this.

14.3 Any charges you had to pay as a result of the unauthorized payment will be paid back to you.
14.4 You will not be entitled to any refund, in case one of the situations described in articles 13.2 and 13.3 applies.

15. PROTECTING YOUR ACCOUNT
15.1 You must take appropriate steps to protect your Account from being misused. You must take reasonable steps to secure your devices, items, IDs, passwords required to access your OKTO Account. As soon as your Account is opened, you should take all reasonable steps to keep your personalized security credentials safe and it’s your responsibility to protect them by storing them safely. We advise that you change your password regularly and ensure that it is not reused in other online accounts.
15.2 In order to ensure the safety of your Account and of the Services provided to you, you agree to do the following:

• Try to conceal your password in order to make it hard for others to understand.
• Try to avoid using as a password information that can be known to a number of people, like your birthday, ID number, telephone number, or a sequence of letters and number that can easily be guessed.
• Try not to allow any prying eyes from seeing you entering your login details.
• Refrain from using any functionality, either device or software specific, that allows you to store (“remember”) your login details as they may be compromised.
• Ensure that you do not remain logged in your Account after you have finished accessing the Services.
• Do not allow other people to use your OKTO Account.

15.3 In some cases, we may ask you to authenticate an instruction related to your Account. This is necessary to ensure that it’s you giving us the instruction. This could include your email and password in order to successfully log into your Account to provide us with your instruction.
15.4 If your security credentials are stolen, lost, used without authorization or compromised, you should immediately contact support@oktopay.eu and change your password without delay.
15.5 You need to check your OKTO e-wallet regularly and let us know immediately if you see a Transaction that was not authorized by you or a payment that you think it might be made incorrectly. By this Agreement you acknowledge and agree to review your Transactions through your OKTO Account, and the relevant transaction history section and you understand and accept that no period statements will be sent to you either physical or by e-mail.
15.6 We do not accept responsibility for any interference or damage to your own computer system which arises in connection with your accessing of the Website and/or the OKTO App. You must take your own precautions to ensure that you are not exposed to the risk of viruses or other form of interference which may damage your own computer system.

16. FEES
16.1 We charge fees for our Services as stated in the OKTO Consumer Services Pricing set out on the Website. We are not responsible to determine any applicable taxes relating to your Transaction, nor are we responsible to collect report and remit any taxes arising from any Transaction. You agree that it is your sole responsibility to determine the applicable taxes relating to a Transaction and further to collect, report and remit tax balances arising from any Transaction to the relevant tax authority.
16.2 You agree to pay the fees as consideration for the applicable Services. Fees may be changed from time to time. Article 24.5 will apply in this case.
16.3 All fees become due and payable upon the use of the Services by you. We have the right to receive all due and payable amounts towards you by directly debiting and subsequently reducing the balance of your Account without any specific notification. With the acceptance of this Agreement, you explicitly and unconditionally mandate us for the receipt and/or compensate these amounts with the equivalent debiting of your OKTO Account. Any amount that has become due and payable and has not been paid off due to insufficient balance, shall be withheld in priority against any other debit, once and to the extent the Available Balance is sufficient or compensated, if applicable.
16.4 All fees are not refundable unless otherwise provided for in this Agreement. Fess can be payable in Sterling (GBP). Currencies for fee payments other than the above may be added or removed in the future in which case you can be informed in writing.
16.5 You recognize and accept unconditionally that any depiction of the unpaid amounts towards us in the updated accounting reconciliations of the Transactions, transfers and of the balance of the Account which may be issued by us, produce full proof of the amount not paid from you to us for any court, and in reverse, and capable of supporting as full proof any relevant claim, fulfilling all possible requirements for the issuance of a payment.
16.6 We are not responsible for the fees associated with a bank or another payment service provider to process payments from you to us. Any fees charged by third parties will be deducted by us before crediting the remaining balance to you.

17. ACCEPTABLE USE OF SERVICES
17.1 While using the Services you must not directly or indirectly:

i. Breach this Agreement, the Privacy Policy or any other policies.
ii. Violate any law, regulation, directive, statute, or contract in relation to the Services, including without limitation, anti-money laundering laws and regulations, e-money and payment services laws and regulations.
iii. Use tools and mechanisms to conceal your online identity and location (use of proxy and other anonymizing technics).
iv. Cause and maintain an Account with a negative balance.
v. Engage in activities that may present us with increased risk or fraud or credit exposure or that lead us to handling a disproportionate number of claims settled in favor of the claimant.
vi. Use the Services in a manner that results in complaints, disputes, claims, reversals, fees, fines, penalties and other liability to us, another consumer or a third party.
vii. Intentionally or unintentionally facilitate any malicious computer programming routines that may cause damage, harmfully interfere with, clandestinely capture or steal any system, data or information.
viii. Intentionally or unintentionally use any automatic device process or manual process to monitor or copy the Website without our prior written permission.
ix. Use any device and/or software that intentionally or unintentionally interferes with the proper operation of the OKTO App, and/or the Website.
x. Use the Services in a manner that could present a risk of non-compliance with the anti-money laundering, counter terrorist financing and other relevant regulatory obligations.
xi. Use the Services for illegal purposes.
xii. Infringe our, or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy.
xiii. Provide false, inaccurate or misleading information.
xiv. Send or receive what we reasonably believe to be potentially fraudulent or unauthorized funds.
xv. Refuse to cooperate in an investigation or provide confirmation of your identity or any other required information or provide additional information that will allow us to better familiarize with the nature of your business and continuing operations.
xvi. Control an Account that is linked to another Account that has engaged in any of these non-permitted activities included herein.
xvii. Use of the Services in a manner that is an abuse of a card system or a violation of card association or network rules.
xviii. Use of the Services in a way that might harm the provision of the Services.
xix. Control or use an Account that’s not yours.
xx. Give your security credentials to any other person.
xxi. Allow anyone else to access or use your Account.
xxii. Harass and/or threaten our employees, agents, or other users.

17.2 In case you use the In case you use the OKTO Services in the aforementioned way and/or in a manner that results in complaints, disputes, claims, reversals, fees, fines, penalties and other liability to us, another consumer or a third party, you may be liable for the said complaints etc. and their outcome. In such case, you agree to reimburse us, a consumer or a third party for any and all such liability, and for us to settle any amounts owed as a result of the liability from your Available Balance. Should your balance be insufficient to cover the amount, you agree that any amount that proceeds from a transaction may be used, and in the event that such amount does not cover the liability, allow the holder of the claim to recover the amount through other legal means available.
17.3 In case of disputed amounts resulting from a claim or reversal on a payment you received, the use of enough funds in your Account may be blocked to cover the full amount of the dispute. The block will not affect the use of your Account if you have a residual balance in excess of the blocked disputed amount. The block is restricted to the disputed balance amount. Should the dispute be resolved on your favor, we will restore the full access to your account and remove the block from the formerly disputed amount. To the contrary, if the dispute is resolved in favor of the opposing party, the blocked amount will remove the required amount from your Account in settlement of the dispute resolution decision.

18. Representations and Warranties
18.1 We expressly disclaim, to the maximum extent permitted by law, all conditions and warranties, of any kind express, implied or statutory, regarding the Services offered or the software provided, including but not limited to the implied warranty of non-infringement, except for any condition or warranty whose exclusion would contravene any law and regulation, or cause any party of this paragraph to be void (hereon after referred to as “non-excepted conditions”). Our liability towards you as a result of a breach of any non-excepted condition is limited at your own option to a) refund of the price paid for the good or service that caused the breach b) replacement or repair of the good or repeat of the provision of the service that caused the breach unless such liability cannot be limited under jurisdictional laws and regulations.
18.2 We neither represent nor warrant that the provision of the Services to you will be without delay, interruption, compromise to your security systems, or error free (neither that all errors will be rectified) and we do not accept any responsibility for any delay or failure in delivering the Services under this Agreement. We may undertake to perform maintenance and/or repair work on our systems that may restrict your access to your OKTO Account and/or the Services.

19. LIMITATION OF LIABILITY
19.1 Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.
19.2 Where any loss, liability, cost or expense (a “Loss”) is suffered by you for which we would otherwise be jointly and severally or jointly liable with any third party or third parties, the extent to which such Loss shall be recoverable by you from us (as opposed to any third parties) shall be limited so as to be in proportion to the aggregate of our contribution to the overall fault for such Loss, as agreed between all of the relevant parties or, in the absence of agreement, as determined by a court of competent jurisdiction. For the purposes of assessing the contribution to the Loss in question of any third party for the purposes of this clause, no account shall be taken of any limit imposed or agreed on the amount of liability of such third party by any agreement (including any settlement agreement) made before or after such Loss occurred or was otherwise incurred.
19.3 You acknowledge that we are not responsible for the results of any credit inquiry, the functionality of Internet Service Providers’ (ISP) or Financial Institutions’ (FI) websites, or the accessibility and functionality of the Internet, or for any damages or costs you may incur or suffer as a result of any instructions given, actions taken or omissions made by it, its financial processor(s) and FI or any ISP.
19.4 In no event shall we, our associates, our affiliates and other related persons who act on our behalf, and/or the persons we enter into contracts with, have liability (including liability for negligence) for any foregone profits, missed opportunity, costs relating to the procurement of substitute goods or services, or for any indirect, incidental, consequential, punitive or special damages arising out of this Agreement, under any cause of action or theory of liability (including negligence), and whether or not we have been advised of the possibility of such damage. These limitations will apply notwithstanding any failure of essential purpose of any limited remedy.
19.5 We shall not be liable for any bank charges that you may incur in sending funds to or receiving funds.
19.6 We accept no responsibility in the event that you send money to the incorrect account.
19.7 Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by any applicable law.

20. INTELLECTUAL PROPERTY RIGHTS
20.1 We, the system vendor and where applicable our licensors, grant you a limited, non-exclusive, non-transferable license for the use of any software application(s) you access through or have downloaded to your personal computer, mobile device, or platform, including an Application Programming Interface (API) or a Developer’s toolkit where applicable, but this is for your personal use only.
20.2 You may not:
o Transfer, lease or rent, sell or distribute these rights to any person or entity.
o Alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code which is derived from OKTO material.
20.3 With this you acknowledge that all rights related to OKTO material, belong exclusively to us or to a third-party provider depending on the contractual arrangements between the us and the third-party provider.
20.4 The brand(s), website(s) URL(s), logos relating to the name, products and services described/used in/on electronic and hard copy material are either copyrighted, or are registered trademarks, or are trademarks of ours or our licensors. In addition, all page headers, custom graphics, button icons, and scripts are copyrighted service marks, trademarks belonging to us or our licensors. Copying, modification, alteration of any kind, amendment or use of any kind is strictly prohibited.
20.5 Specifically, we or our licensors are the owners of all rights, interests and titles of logos, tradenames, registered and unregistered trademarks, custom designs, proprietary software core code, patentable applications, trade secrets, registered and unregistered copyrights, any and all other intellectual property, proprietary rights or other rights related to intangible property which are used, or developed in connection with any of the Services and you agree not to claim ownership of or interest in any such intellectual property right.
20.6 You acknowledge that you have not obtained any rights expressed or implied other than the rights granted to you under the terms of this Agreement, and that no title of ownership has been transferred to you under this Agreement.
20.7 Except to the extent permitted by applicable law, you shall not undertake any action with the intent to ascertain and/or obtain for any reason or purpose our systems source code, processes or data. You have not been granted the right and shall not sell or resell, lease or sublet, sublicense, lend or otherwise transfer the services or components thereof.

21. COMPLAINTS
21.1 If a complaint regarding the Services, you can contact us at support@oktopay.eu.
21.2 We will try to respond to your complaint in writing within 15 (fifteen) Business Days after the receipt of complaint. In exceptional cases, due to reasons which are beyond our control, we may send you a preliminary response by indicating reasons for delay and the term by which you will receive our final response. In any case the term for provision of final response will not exceed 35 (thirty-five) Business Days after the receipt of complaint. Handling of complaints is free of charge. Should you not be satisfied with our final response, or should we fail to respond to you, you also have the right to apply directly to Payrnet Limited. If the outcome of the complaint is still not satisfactory to you, you have the right to take your complaint to the Financial Ombudsman Service if you are an eligible complainant.

For more information about how we handle your complaint, please read our Complaints Handling Policy.

22. TERMINATION
22.1 We can terminate this Agreement, block your OKTO Account or suspend the Services under this Agreement at any time:

i. if you breach this Agreement,
ii. if we suspect that you are using the Services for any illegal purposes or that you are carrying out a prohibited or illegal activity,
iii. if we suspect that you are acting fraudulently or that you have provided us with false or misleading information,
iv. If we are unable to verify your identity or other information we have required or if you did not provide us with the information, we need to meet our legal obligations or if you have provided us with incorrect information,
v. If you refuse to repay any overdue amounts owed to us,
vi. If this is required to meet our legal obligations or to comply with instructions from governmental authorities within our legal competencies,
vii. You do not use your Account for more than two (2) years and we are unable to communicate with you during this period,
viii. If we have a good reason to believe that, if the Services continue to be provided, this may harm our reputation,
ix. if we have reasonable grounds for concern relating to: (i) the security of your Account(s), whether or not you have informed us of a security breach; and/or (ii) the suspected unauthorised or fraudulent use of your account(s).

22.2 We will let you know when we block your Account including the reasons for this if the law allows us to do so. We will unblock your Account as soon as the reasons for the Account blocking do not exist.
22.3 If the cause of the suspension or termination was the non-payment of overdue fees to us, the Account may be reinstated following full payment of the outstanding fees and any reinstatement fee we may charge.
22.4 You can terminate this Agreement and close your Account at any time on the OKTO App or by contact us at support@oktopay.eu. Go to setting, select “Account” and then “Close Account”. You will be informed that your request is received. After this point, you will not be able to log in to the OKTO App with your Account credentials. Please make sure that any available balances on your e-wallet are withdrawn prior to the closure request of your Account. In case you maintain a positive balance in your OKTO Account, you may be requested to provide an active bank account of which you are the beneficiary, to which the equivalent funds will be transferred net of any fees or other charges incurred.
22.5 You must not close your OKTO e-wallet to avoid an investigation. If you attempt to do that, we may hold your money until the investigation is fully completed in order to protect our interests and meet our legal obligations.
22.6 Effect of Termination. Upon the effective date of termination, you understand and agree that:

i. You will no longer be able to avail yourself of the Services and any rights granted to you for the use of the Services and as per this Agreement shall cease immediately.
ii. The provision of the Services shall be ceased and the access to your Account information will be limited for reasons of history recovery, without any Transaction being able to take place.
iii. Any pending Transactions will be cancelled.
iv. You will forfeit any non-monetary benefits such as bonuses, coupons and/or vouchers (if applicable).
v. Your remaining Balance may be sent to a bank account in your name, unless otherwise agreed by both parties, less any monies which are due and owing to us, where relevant.
vi. Any fees due and related to your Account prior to closure and/or to the termination of this Agreement, remain your liability towards us and it is your responsibility to settle in full.
vii. We will only be responsible to terminate our own Services and you agree that you are solely responsible to notify and terminate or cancel any services provided by third parties.
viii. If you have caused the termination of this Agreement, you will bear any costs related to the closing of the Account including any reasonable fees we charge for the closing process, as well as any costs we are burdened with as result of the process.
ix. Any obligations which by their nature are required to survive contract termination will survive any termination of this Agreement.
x. You shall stop to use any material, digital or electronic right that has been granted to you for the facilitation of Transactions, and you are obliged to return it to us

22.7 After termination, you may contact us at support@oktopay.freshdesk.eu to redeem any Electronic Money you still hold in your Account.

23. HOW WE MAY USE YOUR PERSONAL INFORMATION AND DATA PROTECTION
If you want to know more information about how we use your personal data, please see our Privacy Policy.

24. GENERAL
24.1 If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.
24.2 We shall have no liability to you under this Agreement if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lock-outs or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of sub-contractors, provided that you are notified of such an event and its expected duration.
24.3 If a court finds part of this Agreement illegal, the rest will continue in force. Each of the sub-clauses, clauses and paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining sub-clauses, clauses and paragraphs will remain in full force and effect.
24.4 Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us, or authorize either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
24.5 We reserve the right to amend these Terms and Conditions unilaterally. You may access the applicable Terms and Conditions on our Website. It is recommended that you visit the Terms and Conditions page on our Website frequently in order to be informed accordingly. The notification of the amendments of the Terms and Conditions is concluded by posting the amended Terms and Conditions on our Website or by emailing you to the email address associated with your Account. Any amendment to the Terms and Conditions shall apply and is valid after the lapse of two (2) months from its notification, unless such modification is made in compliance to the provisions of the applicable legislation, any court ruling or administrative decisions or when it is connected to the provision of new services or new features of existing services or when the amendment, at our discretion, does not increase your obligations and does not restrict your rights.
In any event and within the aforementioned deadline of two (2) months, if you do not accept such amendment, you must close your OKTO Account and terminate this Agreement without any charge, otherwise you are deemed to have accepted the amended Terms and Conditions without reservation. In such an event, the relevant provisions herein regarding the results of the termination apply.
24.6 We may transfer our rights and obligations under this Agreement without your consent. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.
24.7 This Agreement is between you and us. No other person shall have any rights to enforce any of its terms.
24.8 This Agreement and all matters arising from it and any dispute arising between the parties in connection with the Agreement shall be governed and construed in accordance with English law. Any legal proceedings resulting or connected with the Agreement shall be submitted for settlement before the competent courts of England. If you live in Scotland, you can bring legal proceedings in respect of this Agreement in either Scottish or the English courts. If you live in Northern Ireland you can bring legal proceeding in respect of this Agreement in either the Northern Irish or the English courts.