The general and specific conditions outlined below govern the relationship between PECUNIA CARDS EDE, S.L.U., with CIF B86972346 (hereinafter referred to as "PECUNPAY"), having its registered office at C/ Guzmán El Bueno, No. 133, Edificio América, Bajo B, 28003 – Madrid, and registered with the Mercantile Registry of Madrid under T. 32368, F. 1, H. M-582661, Entry 1, and the account holder (hereinafter referred to as the "HOLDER"), concerning the financial services described herein.
PECUNPAY is an Electronic Money Institution (EDE), authorized by the Ministry of Economy and registered with the Bank of Spain under number 6707, with the legal authorization and suitability to issue, manage, and handle electronic money and electronic payment means, as well as to provide payment services. It is under the supervision of the Bank of Spain, located at Calle Alcalá 48, 28014, Madrid.
The HOLDER of the account is a natural person, whose identity must be verified within the account itself.
The PLATFORM is RAND PROTOCOL S.L., with CIF B42893925, a legal entity and owner of the mobile application that serves as an interface between PECUNPAY's electronic banking and the HOLDER.
1. GENERAL CONDITIONS OF THE ELECTRONIC MONEY ACCOUNT
1.1. GENERAL CONTRACTUAL CONDITIONS
This contract establishes the conditions that will govern the electronic money account between PECUNPAY and the HOLDER (hereinafter referred to as the "Contract").
The parties agree that the clauses included in this Contract should be considered as general conditions of contracting, for the purposes specified in Law 7/1998, of April 13, on General Conditions of Contracting. Likewise, they acknowledge that the language for the conclusion of the framework Contract and for communication during the contractual relationship is Spanish.
PECUNPAY, as the proponent, has expressly and previously informed the HOLDER, through the PLATFORM, as the adherent, of the existence of the general conditions outlined in this document.
The HOLDER states that they are aware of these conditions, understand them, and consequently accept their incorporation into the Contract. At any point during the contractual relationship, the HOLDER who requests it shall have the right to receive these General Conditions of Contracting in paper or another durable medium.
The HOLDER declares that they are acting on their own behalf and right and undertake to provide PECUNPAY with any documentation, photographs, and information that may be reasonably requested to fulfil their legal obligations.
Once the HOLDER has completed the above and has passed our internal checks, the account will be opened.
1.2. EFFECTIVENESS, DURATION, AND TERMINATION OF THE CONTRACT
Notwithstanding the signing of the Contract, it shall not become effective until PECUNPAY confirms to the HOLDER, through the PLATFORM, that the service has been approved.
In case it is necessary to complete the documentation and/or information provided by the HOLDER or rectify any defects or errors, PECUNPAY shall communicate this to the HOLDER through the PLATFORM.
The Contract shall have a duration of one year (hereinafter referred to as the "initial term"), without prejudice to the expiration date indicated on the payment medium provided by PECUNPAY to the HOLDER.
Once the initial term has elapsed, the Contract shall be automatically renewed for annual periods unless either party notifies the other of its intention not to renew the Contract.
Termination of the contract initiated by the HOLDER
Except for cases in which the HOLDER has contracted multiple products with PECUNPAY for which it is necessary to maintain an electronic money account as determined by regulations, the HOLDER may terminate the Contract at any time by notifying it in writing to the PLATFORM, without the need for any prior notice.
In this case, PECUNPAY will proceed to execute the order for the termination of the Contract within 24 hours of receiving the HOLDER's request. PECUNPAY will reimburse the HOLDER the remaining balance they have, after deducting the applicable fees and expenses up to the date of termination.
If the account has a balance in favor of PECUNPAY, the HOLDER may only cancel the Contract upon payment of such balance, as well as the accrued interest, fees, and expenses.
The HOLDER is advised that, in the event of requesting the termination of the Contract and cancellation of the contracted product(s), while pending the execution of refund operations to be made in favor of the account (e.g. a refund initiated by the HOLDER for a purchase made by the HOLDER at a merchant, which should be refunded to the account through which the payment was made, etc.), the process of refunding these amounts may be complicated. For PECUNPAY to proceed with the refund, the HOLDER must provide PECUNPAY, prior to the refund, with a certificate of ownership of the bank account held by the HOLDER to which the refund amount should be transferred, along with any other documentation that PECUNPAY may require for verification.
PECUNPAY will reimburse the HOLDER the remaining balance they have, after deducting the applicable fees and expenses up to the date of termination.
1.2.3. Termination of the Contract Initiated by PECUNPAY
Additionally, PECUNPAY may terminate this Contract by notifying the HOLDER through the PLATFORM or by email, with a minimum advance notice of sixty calendar days, without citing any specific reason.
However, PECUNPAY may terminate the Contract without prior notice in the event of objectively justified reasons related to the security of the payment instrument or suspicion of unauthorized or fraudulent use thereof.
Furthermore, PECUNPAY may terminate the Contract with a fifteen-day notice when the HOLDER does not have a sufficient balance to cover the corresponding charges or, in general, when the HOLDER fails to meet any financial obligation assumed under this Contract or under other Contracts held with PECUNPAY.
For the purposes of this Contract, the following definitions apply:
1.3. CONTRACT WITHDRAWAL
The HOLDER shall have a period of 14 calendar days to withdraw from the Contract without specifying any reasons and without incurring any penalties.
The deadline to exercise the right of withdrawal shall begin to run from the day the Contract is concluded.
However, if the consumer has not received the contractual conditions and contractual information, the period for exercising the right of withdrawal shall commence on the day they receive the aforementioned information.
The HOLDER who wishes to exercise the right of withdrawal must notify PECUNPAY, through the PLATFORM or the channel specified in clause 1.7 of the Contract, before the corresponding period expires, using a method that allows for proof of notification in any legally accepted manner. Notification shall be deemed to have been made within the deadline if it is sent on a paper medium or another durable medium, which is available and accessible to the recipient, and is sent before the deadline.
1.4. SUSPENSION OF PAYMENT SERVICES
PECUNPAY may temporarily suspend the services provided, as well as any associated means of payment, due to the HOLDER's non-payment, security reasons, lack of requested documentation, or suspicion of unauthorized or fraudulent practices by the HOLDER.
Once the reasons for the suspension have been resolved, PECUNPAY will proceed to reactivate the service or means of payment.
1.5. CONTRACT AMENDMENTS
PECUNPAY may modify the conditions established in this Contract.
The modifications will be published on PECUNPAY's website and on the website and mobile application of the PLATFORM, and will also be communicated by PECUNPAY to the HOLDER via email, to their respective email address. However, the modifications will not be applicable, and therefore will not come into effect, until sixty calendar days have passed from the date of sending the corresponding communication to the HOLDER (hereinafter referred to as the "effective date of the new conditions").
If the new conditions result in a benefit for the HOLDER, PECUNPAY may provide for their automatic application after their publication on the corporate website and on the website and mobile application of the PLATFORM.
If the HOLDER, upon becoming aware of the new conditions, rejects them, they may terminate the Contract by notifying PECUNPAY through the channel specified in clause 1.7 of these Conditions. Opposition to the new conditions must be made prior to the effective date of the new conditions to prevent their application. PECUNPAY will reimburse the HOLDER the remaining balance they have, after deducting the applicable fees and expenses up to the date of termination. It will be considered that the HOLDER has accepted the modification of the conditions in question if they do not communicate their non-acceptance to PECUNPAY prior to the proposed effective date.
1.6. ECONOMIC CONDITIONS: FEES AND EXPENSES
The fees and expenses specified in the Particular Conditions applicable to each of the different products and services contracted shall apply. These fees and expenses for each of the various products and services will be provided on the website and mobile application of the PLATFORM.
Communications, notifications, and documentation to be made under this Contract shall be directed to the HOLDER at the address and/or email provided by them for this purpose.
Communications to PECUNPAY to be made by the HOLDER shall be sent via email to the address: email@example.com.
The HOLDER undertakes to notify PECUNPAY of any changes in their address, email address, phone number(s), and any other information that differs from what was originally provided by the HOLDER, through the PLATFORM for this purpose or by updating it, and shall bear any losses resulting from the sending of information that is not valid, incorrect, or inaccurate.
1.8. CUSTOMER SERVICE
The HOLDER may file a complaint or claim with PECUNPAY's Customer Service. The written communication shall be submitted via email to the following address: firstname.lastname@example.org.
All of this is in accordance with the provisions of PECUNPAY's Customer Ombudsman Regulation, which is available to HOLDERS on the corporate website.
Please note that PECUNPAY is not affiliated with any Consumer Arbitration Board.
1.9. RECORDING OF COMMUNICATIONS
The HOLDER authorizes PECUNPAY to record, by means of magnetic, computer, electronic, or other methods, all data, inquiries, contract details, and transactions carried out through any non-presential services. The HOLDER may request a copy of these records.
1.10. PERSONAL DATA PROCESSING
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 concerning the processing of personal data and the free movement of such data, as well as Organic Law 3/2018, of December 5, on Personal Data Protection and guarantee of digital rights, we inform you that your personal data will be included in the processing activities of PECUNIA CARDS EDE S.L.U. (PECUNPAY), for the purpose of managing the service contracted by the HOLDER, fulfilling the contractual relationship, examining and verifying personal data, developing and managing loyalty programs, notifying any incidents that may arise during the contractual relationship, communicating possible modifications to the Contract conditions, and sending commercial information that may be of interest, being authorized for these purposes based on the execution of the Contract, compliance with legal obligations, and the legitimate interest of the parties. Your data will be retained during the execution of this Contract and subsequently, until the statute of limitations for any legal responsibilities has expired.
Your data may be disclosed to third parties, such as entities related to the financial sector and bank card processing entities, for the purpose of managing the operation of our terminals, as well as for managing secure customer authentication operations. Likewise, your data may be accessed by third-party service providers of PECUNPAY, with whom PECUNPAY has entered into the relevant personal data processing agreements, ensuring lawful and secure processing of such data, such as consulting firms, entities for the verification of personal data, external technology service providers, and the like.
In the event that you wish to benefit from offers and promotions to which you have access through the use of our services, your data may be disclosed to the entity with which PECUNPAY enters into an agreement to offer that specific offer and/or service that you wish to benefit from. This disclosure will be made so that you can enjoy that offer and/or service.
PECUNPAY may verify the information provided by the HOLDER, assess their transactions, and verify their solvency. For this purpose, PECUNPAY is authorized to collect, communicate, request, and exchange information about the status of their accounts with other solvency files or public registers, financial entities, credit rating and fraud prevention companies, as well as with the Bank of Spain. PECUNPAY may consult them periodically. These procedures are necessary for PECUNPAY to carry out the relevant inquiries to comply with its obligations regarding fraud analysis, anti-money laundering, and counter-terrorism financing. The HOLDER shall be responsible for the truthfulness and accuracy of all personal data provided to PECUNPAY. In this regard, PECUNPAY informs you that it has entered into a joint responsibility agreement with DOWJONES, for the purpose of analyzing the information provided in the hiring process, specifically the information included in your KYC (Know Your Customer).
PECUNPAY informs you of the possibility that your personal data may be subject to automated decisions, related to the automatic blocking of the account activation process or the automatic blocking of the operation of the activated account, specifically when: (i) the HOLDER does not complete all the personal data required in the KYC; (ii) the cross-referencing of the data provided in the KYC reveals that the HOLDER appears on a list that prevents the product from being contracted; (iii) the HOLDER does not provide the additional information requested by PECUNPAY within 30 days; or (iv) there are suspicions of fraud in the use of the account.
The HOLDER may exercise their rights of access, rectification, opposition, erasure, restriction, portability, and opposition to automated decision-making, by writing to PECUNPAY's Data Protection Officer, by postal mail to Calle Guzmán el Bueno nº 133, Edificio América, Bajo B, 28003, Madrid; or by email to email@example.com.
If you believe that your rights have not been properly addressed, the HOLDER has the right to file a complaint with the Spanish Data Protection Agency.
1.11. PREVENTION OF MONEY LAUNDERING AND THE FINANCING OF TERRORISM
The HOLDER is informed of the legal obligations imposed on PECUNPAY regarding money laundering prevention and the financing of terrorism which include the identification of the HOLDER and the beneficial ownership, shareholding structure, or control in the case of a legal entity, economic, professional, or business activities, source of funds, as well as the requirement to apply due diligence measures established at all times by current legislation, including those related to knowing and continuously monitoring the business relationship.
As a result, the HOLDER must provide all the information and documentation required by PECUNPAY at all times for compliance with these obligations, in a timely manner.
In the case of the HOLDER being a natural person, unless expressly stated otherwise, the HOLDER expressly declares that they are acting on their own behalf before PECUNPAY, recognizing themselves, for all purposes, as the REAL HOLDER of their relationship with PECUNPAY.
For these purposes, additionally, the HOLDER expressly agrees to assume the following obligations, authorizations, and measures resulting from the application of anti-money laundering and terrorism financing regulations:
1.12. APPLICABLE LAW AND JURISDICTION
This Contract will be interpreted and performed on its own terms, and in matters not provided for, it will be governed by Spanish law, with the obligations and responsibilities of the parties being subject to Spanish law.
The parties submit to the jurisdiction of the Courts and Tribunals of Madrid Capital for any matter related to the interpretation, compliance, or execution of this Contract, expressly waiving any jurisdiction of their own that may correspond to them, unless the HOLDER qualifies as a consumer, in which case the rules for determining jurisdiction provided in the current legislation will apply.
2. SPECIAL CONDITIONS FOR CONTRACTING THE RAND PRODUCT
This Contract aims to regulate the opening of an electronic money account for the Rand product (hereinafter, "account"), with PECUNPAY, in the name of the HOLDER.
The account may be associated with other electronic media, so that all transactions made through such means will be reflected in the account.
The balance of the account will not accrue interest or any other type of remuneration for the HOLDER.
2.2. AUTHORIZATION TO OPEN THE ACCOUNT
The HOLDER authorizes PECUNPAY to open an account assigned in the name of the HOLDER.
2.3. ACCOUNT VALIDITY
Once the registration process form in the mobile application of the PLATFORM has been completed, the user identification process has been completed, and once our internal checks have been passed, the account will be opened.
2.4. ACCOUNT LIMITS
The maximum total amount of transactions that can be made at any given time will be determined by the balance available in the account, as well as the cash withdrawal limits set at ATMs, transaction limits at merchants, and similarly, cash withdrawals and deposits through the private network will also be limited.
PECUNPAY reserves the right to suspend the use of the account for objectively justified reasons related to the security of the payment instrument or suspicion of unauthorized or fraudulent use. PECUNPAY will inform the HOLDER of the account suspension and the reasons for it via the email provided by the HOLDER for notifications. This communication will take place prior to the suspension, and if not possible, immediately after the suspension, unless providing such information is compromised by objectively justified security reasons or is contrary to any other regulatory provision.
PECUNPAY will unblock the account once the reasons for blocking its use no longer exist.
The economic conditions will continue to apply regardless of the account suspension.
2.5. PAYMENT TRANSACTIONS
The use of the account will be in accordance with the usage instructions established by PECUNPAY in this Contract and on its own website, without prejudice to PECUNPAY's authority to modify such usage instructions, as stipulated in Clause 1.5.
Each transaction will be recorded by PECUNPAY, and the HOLDER can access this information through the website and mobile application corresponding to each product.
Information regarding the terms and conditions applicable to payment services and transactions will be free of charge for the HOLDER and will be accessible through the customer area provided to the HOLDER.
However, any additional or different information requested by the HOLDER will generate a cost that will be charged according to PECUNPAY's fees. Additionally, PECUNPAY may pass on to the HOLDER the costs incurred due to contract termination, revocation of payment orders, and costs arising from fund recovery for payment transactions executed with incorrect unique identifiers, as provided for in PECUNPAY's fee schedule.
The HOLDER expressly authorizes PECUNPAY to record the transactions carried out by the HOLDER.
2.5.1. Consent and Withdrawal of Consent
Payment transactions will be considered authorized when the HOLDER has given consent for their execution. It will be deemed that the HOLDER has consented to the transaction when it has been executed through any of the channels provided by PECUNPAY.
Debits from the account for all transactions duly authorized by the HOLDER or charged to the HOLDER will be accepted.
The HOLDER cannot revoke a payment order after it has been received by PECUNPAY. However, the HOLDER may withdraw consent at any time before the date of irrevocability referred to in Articles 36 and 52 of Royal Decree-law 19/2018 of November 23, on payment services and other urgent measures in financial matters.
However, if the HOLDER does not qualify as a consumer or microenterprise in the terms specified in Royal Decree-law 19/2018 of November 23, the consent cannot be withdrawn.
2.5.2. Receipt of Payment Orders
The time of receipt of a payment order will be when it is received by PECUNPAY, regardless of whether it has been transmitted directly by the HOLDER, on the HOLDER's behalf, by a payment initiation service provider, or indirectly through the beneficiary, unless the receipt occurs after 11:00 a.m. on a business day or on a non-business day, in which case, it will be considered received on the next business day.
The account will not be debited before the payment order is received.
If the HOLDER and PECUNPAY agree that the execution of the payment order will begin on a specific date or at the end of a specified period or on the day the HOLDER makes funds available to PECUNPAY, it will be deemed that the time of receipt is the agreed-upon day. If this day is not a business day for PECUNPAY, the payment order will be considered received on the next business day.
2.5.3. Transmission of the Full Amount of the Transaction
PECUNPAY will credit the full amount of the transaction received in favor of the HOLDER to the HOLDER's account. However, PECUNPAY may deduct its expenses from the transferred amount before crediting it to the account.
2.5.4. Execution Time for Payment Transactions
For payment transactions in euros, as well as for national payment transactions in the currency of a European Union Member State that is not part of the euro area, and similarly, for payment transactions that only involve a currency conversion between the euro and the currency of a Member State that is not part of the euro area, as long as the conversion is carried out in the Member State that is not part of the euro area, and for cross-border payment transactions where the cross-border transfer is made in euros, the following rules regarding the maximum execution time of payment transactions will apply:
When PECUNPAY is the payment service provider of the payer, it will ensure that the amount of the payment transaction is credited to the payee's payment service provider account, at the latest, by the end of the next business day after the payment order is received.
For payment transactions not covered by the previous paragraph, PECUNPAY may extend the execution time for the transaction, which will in no case exceed four business days from the receipt of the payment order.
2.5.5. Value Date and Availability of Funds
The value date for debiting the account of the ordering HOLDER for the payment transaction will not be earlier than the business day on which the amount of the payment transaction is debited from the account.
The value date for crediting the beneficiary's account will not be later than the business day on which the amount of the payment transaction is credited to the account of the beneficiary's payment service provider.
2.5.6. Rectification of Payment Transactions
The HOLDER will receive rectification from PECUNPAY for an unauthorized or incorrectly executed payment transaction only if the HOLDER notifies PECUNPAY without undue delay upon becoming aware of such a transaction that is subject to a claim, including those covered by paragraph 2.6.8. of this document, and, in any case, within a maximum period of thirteen months from the date of the debit.
When the user of payment services is not a consumer or microenterprise in the terms established in Royal Decree-law 19/2018 of November 23, on payment services and other urgent measures in financial matters, the maximum period for obtaining rectification of an unauthorized or incorrectly executed payment transaction, only if the user of payment services notifies it without undue delay upon becoming aware of any of the transactions referred to in the previous paragraph, will be 10 calendar days.
The notification deadlines established in the previous paragraph will not apply when PECUNPAY has not provided or made available the information about the payment transaction.
2.5.7. Unique Identifier
The Unique Identifier is the combination of letters, numbers, or signs assigned by PECUNPAY to the HOLDER for the unambiguous identification of the HOLDER and the account in a payment transaction.
For this purpose: The Unique Identifier of the HOLDER for the identification of the account will be the IBAN (International Bank Account Number);
When a payment order is executed according to the unique identifier, it will be considered correctly executed with respect to the beneficiary specified in that identifier.
If the unique identifier provided by the HOLDER is incorrect, PECUNPAY will not be liable for non-execution or defective execution of the payment transaction.
2.5.8. Liability in Case of Non-Execution or Defective Execution of a Payment Order
When a payment order is not executed or is executed defectively, PECUNPAY will act in accordance with Article 60 of Royal Decree-law 19/2018 of November 23, on payment services and other urgent measures in financial matters.
The HOLDER must prepay an amount sufficient to cover the recharged amount in advance. Accounts can be recharged as many times as desired, up to the limit assigned by the HOLDER or by PECUNPAY.
The HOLDER can top up the account through the following channels, provided they are available through the PLATFORM:
PECUNPAY will remain uninvolved in any issues and responsibilities that may arise from top-up transactions conducted between the third-party entity and the HOLDER of the account.
2.8. BALANCE INQUIRY
The HOLDER can check the available balance of the account on the website/App corresponding to their contracted product.
No store or establishment can provide information about the account balance. Additionally, balance inquiries at ATMs are not available.
2.9. DEPOSIT OF FUNDS
PECUNPAY states that the deposited funds will be safeguarded in accordance with the legal provisions specified in Article 21.1 a) of Royal Decree-law 19/2018, of November 23, on payment services and other urgent measures in financial matters.
PECUNPAY expressly declares and commits to ensuring that these funds are never commingled with the funds of any other natural or legal person who is not a customer of the payment services on behalf of which these funds are held.
2.10. IDENTITY VERIFICATION
The HOLDER agrees to cooperate with all requests made by PECUNPAY, through the PLATFORM or any of its external service providers on its behalf, regarding their account, to identify or authenticate their identity or validate their sources of funding or transactions. This may include, among other things, requesting additional information that allows PECUNPAY to reasonably identify them, including requiring them to take steps to confirm ownership of their phone number or payment instruments or verifying their information against third-party databases or through other sources.
PECUNPAY reserves the right to close, suspend, or limit access to their account and/or Payment Services if they cannot obtain or verify such information or if they do not comply with their requests as described in the preceding paragraph.
PECUNPAY may verify the information provided by the HOLDER confidentially or obtain information about the HOLDER from third parties from secure databases. The HOLDER confirms that they consent to PECUNPAY or a third party on their behalf conducting such verifications.
The HOLDER must ensure that the information in their account is always accurate and up-to-date. If at any time PECUNPAY believes that their information is outdated or inaccurate, they may contact the HOLDER through the PLATFORM and request additional information or ask them to go through the verification process again. PECUNPAY will not be responsible for any losses arising from the HOLDER's failure to maintain up-to-date information.
2.11. HOLDER'S OBLIGATIONS
The HOLDER agrees to:
PECUNPAY reserves the right to take appropriate actions in the event of a breach of any of these obligations.
2.12. PECUNPAY'S OBLIGATIONS
PECUNPAY agrees to:
2.13. LIABILITY WAIVER
PECUNPAY will be exempt from liability regarding operations that, even against the will of the payer, have been carried out as a result of an order received by PECUNPAY for which the security requirements have been met.
For the purposes of these General Contract Conditions, the following definitions apply:
PECUNPAY will also remain uninvolved in any issues and responsibilities that may arise from the transaction conducted between the establishment and the HOLDER of the account.
PECUNPAY excludes the Zero Liability Policy of Visa (Visa Global Zero Liability Policy) from its application, subjecting itself to the current European regulations in this regard.
In the case of unauthorized payment transactions, the liability regime of the HOLDER, regulated in Article 46 of Royal Decree-law 19/2018, of November 23, on payment services and other urgent measures in financial matters, shall apply.
Finally, it is possible to deposit funds in euros only into PECUNPAY accounts. Under no circumstances is it possible to deposit cryptocurrencies, and PECUNPAY is exempt from any liability related to them.
PECUNPAY will refund, at any time, solely at the request of the HOLDER, through the PLATFORM, the monetary value stored in their account. In any case, the HOLDER must submit a refund request to PECUNPAY.
Electronic money will be refunded by default through a bank transfer to the account provided by the HOLDER for this purpose.
2.15. STATEMENTS AND TRANSACTION INQUIRY
PECUNPAY is solely responsible for the accuracy and correctness of the information regarding the account statements managed by it and not for the information provided to the HOLDER by any other company or third party unrelated to PECUNPAY, by any means, in case of discrepancies in the requested information.
3.1. General Case
The fees and commissions that apply in each case will be charged by the PLATFORM that owns the mobile application of the product and will be disclosed on the platform's website.
Additionally, PECUNPAY will directly charge the following commissions to the HOLDER's account:
(* In case the PLATFORM provides this service to the HOLDER)
3.2. Specific Cases
3.2.1. Cessation of Activity of the Mobile Application Platform
In the event that the PLATFORM that owns the mobile application of the product ceases its activity, with the HOLDER becoming an exclusive customer of PECUNPAY, the product accounts will remain active, and PECUNPAY's tariffs will apply to the HOLDER. These tariffs will be communicated to the HOLDER through a durable medium in a timely manner.
3.2.2. Account Classified as "Suspected of Fraud" or "Blocked for Other Reasons"
PECUNPAY may classify the account as "suspected of fraud" when there are well-founded indications that the HOLDER is using the account for fraudulent operations.
PECUNPAY will inform the HOLDER that their product has been classified as "suspected of fraud." Starting from the issuance of this communication by PECUNPAY, in addition to the tariffs detailed in clause 3.1, the following additional commissions will apply:
These additional commissions will also apply if PECUNPAY blocks the account in the cases contemplated in Clause 1.4 of this Contract.
PECUNPAY, as the offering party, has expressly and previously informed the HOLDER and, where applicable, the DISPONENTS, as adherents, of the existence of the general conditions outlined in this document.