Welcome to the RAND web and mobile application (the "Platform").
Below, we set out the agreement governing the terms under which you, as a User, may use the Platform and the Services offered on it.
This document (together with all documents referred to herein) sets out the conditions governing the use of the Platform (https://www.rand.app/terms-conditions) and the use of the Service provided through it (the "Terms and Conditions").
Please read these Terms and Conditions and our Privacy Policy and Cookies before using the Platform.
By using the service provided on this Platform, the User agrees to be bound by these Terms and Conditions and by our Privacy Policy and Cookies. Therefore, if the User does not agree with all provisions of these Terms and Conditions and the Privacy Policy and Cookies, the User must not use this Platform.
If the User has any questions regarding these conditions or the Privacy Policy and Cookies, the User may contact us through our contact channels.
In compliance with the information duty set out in Article 10 of Law 34/2002 of 11 July on Information Society Services and Electronic Commerce, the identifying details of the Platform owner are as follows:
RAND PROTOCOL, S.L., with tax ID C.I.F. B-42893925 and address at Calle Ernest Lluch, number 32, TCM2, Office 19B,, 08302 Mataro, Barcelona (Spain).
RAND PROTOCOL, S.L. is a company registered with the Bank of Spain under registration number D697 for the provision of Cryptoasset exchange services.
Use of the Platform grants User status, and the User accepts, from access, download and/or use of it, these Terms and Conditions.
In order to use the Services offered on the Platform, the User declares and warrants that:
Accordingly, certain Services or functionalities of the Platform may not be available, or may be restricted, in certain jurisdictions, regions, or for certain Users.
If a person under 18 accesses the Platform, their parents or legal guardians will be solely responsible for such access and use.
Likewise, the User declares that use of this Platform is personal and that they are not carrying out any type of professional service.
The Platform will allow the User to access the Services specified in these Terms and Conditions.
Before using the Services, the User must take into account that operations related to Cryptoassets involve a high level of risk.
The value of Cryptoassets may fluctuate significantly and the User may incur economic losses, including total loss of the amount invested.
By using the Platform, the User expressly acknowledges and accepts these risks and declares that they act under their own responsibility. RAND does not provide financial, legal, or investment advice.
Any decision related to use of the Platform and Services is adopted exclusively by the User, who assumes full responsibility arising therefrom.
The User acknowledges that Cryptoasset prices are highly volatile and that the User is solely responsible for complying with tax obligations arising from use of the Platform.
RAND reserves the right to determine the markets and jurisdictions where it provides services, and to restrict or refuse, at its discretion, service provision in certain countries or regions.
RAND offers, through the Platform, the Services specified in these Terms and Conditions.
The User is responsible for use of the Platform and Services, as well as for information provided during the registration process.
The User undertakes to provide truthful, updated and lawful information, and to keep it duly updated when necessary.
To allow access to Services, RAND may request certain information and documentation from the User to verify identity and compliance with applicable requirements.
The User undertakes to provide such information and to complete any required responsible declarations.
RAND reserves the right to request updates to information provided and to carry out any checks it deems appropriate.
If irregularities are detected in the registration process or in subsequent use of the Platform, RAND may adopt measures it deems necessary, including limiting, suspending or canceling access to Services.
As a result of registration, the User will receive access credentials for which the User is solely responsible.
The User undertakes to use such credentials diligently and confidentially and to immediately notify RAND of any unauthorized access or misuse of their account.
The registration process may, where applicable, be carried out through social networks or other third-party services used by the User.
In such cases, the User accepts that RAND obtains certain personal data from those third parties and processes it as set out in the Privacy Policy.
The Platform may offer additional security systems, such as two-factor authentication mechanisms, whose operation will be detailed in these Terms and Conditions.
The User undertakes to make proper use of content and Services offered through the Platform and, by way of example and without limitation, not to use them to:
RAND reserves the right to interrupt, suspend, or temporarily limit access to the Platform or Services when necessary for technical, operational, maintenance, security reasons, or any other justified cause.
RAND does not guarantee uninterrupted, continuous, or error-free operation of the Platform or Services. Use of the Platform is under the User's responsibility.
RAND shall not be liable for damages or losses arising, by way of example and without limitation, from the User's use of the Platform or content available on it, or decisions adopted by the User in relation to such use.
Likewise, RAND shall not be liable for interruptions, errors, delays, or failures in access to or operation of the Platform or Services when such are not attributable to a lack of diligence in RAND's management of technological, operational, or security risk.
RAND shall not assume liability for third-party content, services, or actions that the User may access through links on the Platform, nor for acts or omissions of third parties unrelated to RAND.
This is without prejudice to RAND's obligations regarding ICT risk management, including adoption of reasonable prevention, detection, response and recovery measures against technological incidents, in accordance with applicable regulations.
To the maximum extent permitted by applicable law, RAND, its affiliates, directors, officers, employees, or collaborators shall not be liable for indirect, incidental, special, consequential, or punitive damages, including without limitation loss of profits, data, or information.
The User is solely responsible for compliance with tax obligations that may arise from use of the Platform and Services, in accordance with applicable tax regulations.
Where legally applicable, RAND may apply the corresponding tax withholdings under current regulations.
In this regard, users are informed that income obtained by individuals resident in Spain is considered investment income. The current withholding tax rate is 19%.
Such income must be included in the savings taxable base and is taxed according to a progressive scale with rates between 19% and 30%.
For Spanish Corporate Income Tax taxpayers, as well as Non-Resident Income Tax (IRNR) taxpayers with a permanent establishment in Spain, and without prejudice to applicable accounting and tax treatment, income is also subject to 19% withholding.
For IRNR taxpayers without a permanent establishment in Spain, income may be subject to withholding in Spain under applicable tax regulations.
As a general rule, such withholding is 19%, unless a Double Tax Treaty applies with a lower rate, or exemption is proven due to residence in another EU Member State, provided that income is not obtained through countries or territories classified as tax havens under Spanish law.
For application of such exemptions or reduced rates, the User must provide RAND with a certificate issued by tax authorities of their country of residence, valid for one year from its issue date.
Through this Service, the User has an operational account within the Platform from which they may make deposits and withdrawals of funds, as well as access the different services offered by RAND.
Deposits in euros shall be made through the payment methods available on the Platform and in accordance with the instructions provided at any given time.
The User accepts that deposit and withdrawal operations involving third-party payment service providers or external entities may be subject to processing times, operational limits or additional checks outside RAND's control.
RAND shall not be responsible for delays or incidents arising from the actions of such third parties.
However, RAND shall make reasonable efforts, within its scope of control, to facilitate proper processing of operations in the shortest possible time.
Earn Account allows the User to obtain returns on certain Cryptoassets deposited on the Platform. These returns are generated from RAND's use of those Cryptoassets during the agreed period, in accordance with the Service's operational strategies.
To access Earn Account Services, RAND will convert the funds provided by the User from their Check-in Account into the Cryptoassets admitted on the Platform, at the exchange rate in force at the time of the transaction.
The User must expressly confirm the conversion transaction before execution.
The resulting Cryptoassets will be reflected in the User's Earn Account balance and will be subject to the specific conditions of the Earn Account Service.
At any time, the User may add new amounts, which will be reflected and updated in the User's Earn Account balance available on the Platform.
The User grants RAND the right to use the Cryptoassets deposited under the Earn Account Service exclusively to optimize their use on decentralized platforms (DeFi) and related operations, in accordance with the purpose of the Service.
Returns shall be calculated according to the annualized percentage (APY) informed to the User when activating the Earn Account Service. APY may be modified by RAND only with respect to new contributions, with prior notice to the User through the channels enabled on the Platform, without affecting previously agreed conditions.
RAND will make updated information available to the User on the status of their Earn Account and generated returns through the means enabled on the Platform.
During the term of the Service and until, at the User's request or for any of the reasons established in these conditions, the relationship between RAND and the User ends, RAND will return to the User the funds deposited under the Earn Account Service, together, where applicable, with returns generated in accordance with the applicable conditions.
RAND reserves the right to modify the conditions of the Earn Account Service, including APY, for future participations. Such modifications shall not affect contributions already made or conditions previously accepted by the User.
To access the Earn Account Service, the User must:
a) Be duly registered on the Platform and accept these Terms and Conditions.
b) Expressly accept the conversion of euros into the Cryptoassets admitted on the Platform.
The User undertakes to:
a) Accept and comply at all times with these Terms and Conditions and any specific conditions applicable to the Earn Account Service.
b) Provide RAND with truthful, updated and complete information when required in connection with the use of the Platform or the Earn Account Service.
c) Use the Platform and Services diligently, in good faith, in accordance with public order and the purpose of the Service.
d) Refrain from any fraudulent, abusive, or unlawful use contrary to applicable regulations or these Terms and Conditions.
RAND undertakes to:
a) Provide the User with clear, sufficient and updated information on the operation of the Earn Account Service under the terms set out on the Platform.
b) Make relevant information available to the User regarding the status of their Earn Account and generated returns through the channels enabled on the Platform.
c) Return the Cryptoassets deposited under the Earn Account Service, together with generated returns, under the terms and deadlines established in these Terms and Conditions.
d) Act in good faith in providing the Service.
RAND reserves the right to:
a) Reject requests to open an Earn Account where established eligibility criteria are not met.
b) Modify eligibility criteria for access to or use of the Earn Account Service.
c) Suspend, limit or terminate the User's access to the Earn Account Service in case of breach of these Terms and Conditions or for duly justified operational, technical, or security reasons.
d) Delegate or subcontract certain operational aspects of the Service to third parties, without reducing obligations assumed vis-a-vis the User.
a) The User may request at any time withdrawal of contributed amounts and generated returns through the procedures enabled on the Platform, without penalty. From that moment, the User will cease to benefit from the Earn Account Service conditions with respect to withdrawn amounts.
b) Withdrawn amounts shall be converted into euros at the exchange rate in force at the time of the transaction.
c) Resulting amounts shall be credited to the User's Check-in Account in accordance with applicable operational timeframes.
a) Returns under the Earn Account Service shall accrue according to the periodicity indicated on the Platform.
b) Accrued returns shall be settled weekly and credited in the same denomination as the transferred Cryptoassets.
RAND shall not be liable for delays or non-performance in providing the Service where caused by force majeure or events outside its reasonable control, including, among others, cyberattacks, interruptions of third-party services, infrastructure failures, regulatory restrictions, or widespread technical incidents.
In such cases, RAND shall adopt reasonable measures to restore normal Service operation as soon as possible.
The Prize Account Service allows the User, once these conditions have been accepted, to allocate euro funds previously deposited in their Checking Account to participation in a weekly event organized through the Platform.
For this purpose, the User expressly authorizes RAND to convert such euro funds into Cryptoassets admitted on the Platform, exclusively for the technical and operational purpose of executing the Service and enabling participation in the event and potential distribution of prizes.
During the event, the User may, randomly, be eligible to obtain prizes in Cryptoassets of the same denomination as those used in the event, which shall be distributed at the end of the event according to applicable rules.
Participation in the Prize Account Service does not constitute an investment, savings product or financial instrument, nor does it imply a reasonable expectation of economic benefit, as prizes are occasional and not guaranteed.
Funds contributed by the User will remain temporarily blocked and unavailable for withdrawal during the event participation period, in accordance with the rules established in these conditions.
The User grants RAND a limited right of use over the Cryptoassets resulting from the conversion of euro funds, exclusively for the proper execution of the Prize Account Service, in accordance with its purpose and conditions.
Such right of use does not imply transfer of economic ownership of the User's funds; however, it may include use on decentralized platforms (DeFi) or other related technical operations, in line with the Service purpose.
The User expressly consents to such use and declares understanding and acceptance of technological, operational, and market risks, including those specific to decentralized protocols, without implying any guarantee of results.
a) The number of benefiting Users shall vary depending on the total accumulated amount and event rules.
b) Prizes shall be randomly distributed among Users meeting participation conditions.
c) The prize distribution scheme shall be defined before each event starts and may consider factors such as amount contributed and participation time.
d) Prizes shall be individually assigned to specific Users according to event rules.
e) The User acknowledges and accepts that they may receive no prize.
At the end of the event, and at the User's request, RAND shall return all contributed funds, regardless of whether the User was awarded a prize.
The return shall be made by crediting the resulting euros to the User's Checking Account.
Such return does not constitute a guarantee of profitability, nor does it imply protection against possible value fluctuation of Cryptoassets during the participation period.
RAND shall notify the User of any modification regarding event rules or applicable conditions through channels enabled on the Platform. Modifications shall not affect events already started.
To participate in the Prize Account Service, the User must:
a) Deposit or have euro funds available in their Check-In Account.
b) Use the functionality enabled on the Platform to fund the Prize Account.
c) Expressly authorize conversion of euros into admitted Cryptoassets, in accordance with applicable law and corresponding administrative authorizations.
d) Keep the contribution in place for the full duration of the event to be eligible for prizes. If the User withdraws before event completion, they understand and accept they will not be eligible for prizes.
The User undertakes to:
a) Accept and comply with these Terms and Conditions.
b) Provide truthful and relevant information when required.
c) Act in good faith at all times.
RAND undertakes to:
a) Provide the User with necessary information about the Service in a clear and accurate manner.
b) Assign and deliver prizes, where applicable, according to event rules.
c) Adopt reasonable measures to ensure operational continuity and security of the Service in accordance with applicable regulations, without prejudice to interruptions due to causes beyond its control.
d) Act in good faith at all times.
RAND reserves the right to:
a) Reject the User's request to open a Prize Account according to applicable internal eligibility and compliance criteria.
b) Modify eligibility criteria for registration or use of the Prize Account, duly informing the User through the Platform.
c) Close, suspend, limit, restrict or terminate User access to the Prize Account where necessary for operational, security, legal or regulatory reasons.
d) Assign obligations arising from the Prize Account Service to a third party, provided such assignment does not reduce User rights and is carried out in accordance with applicable law.
The User may view on the Platform, for informational purposes:
a) Total prize amount to be distributed.
b) Number of winners.
c) Total deposits made by participants.
d) A timeline indicating the remaining event duration.
a) Events shall begin on Fridays at 17:00 CET and end the following Friday at the same time. At event completion, winners will be announced and corresponding prizes distributed.
b) If the User withdraws their contribution before the end of the ongoing event, they will not be eligible for prizes for that event. In such case, the corresponding amount will be reconverted to euros and credited to the User's Checking Account.
c) Withdrawn amounts will be returned in the same denomination in which they were transferred to RAND and then exchanged into euros.
d) Resulting euros will be deposited back into the User's Check-in Account.
RAND may modify Service conditions to optimize operation or adapt to operational, technical or regulatory changes. Such modifications shall not affect events already started and will be published on the website and/or communicated through the Platform to ensure proper transparency and information for the User.
RAND does not guarantee that the User will obtain prizes or minimum returns. The User understands and accepts that participation in the Prize Account Service is subject to specific conditions of each event and to the random nature of the prize distribution system, as well as possible variability arising from operational or market factors.
RAND shall not be liable for delays or non-performance arising from force majeure events, such as cyberattacks, regulatory restrictions, interruptions of third-party services or technical issues beyond its control.
Borrow is a collateralized financing service with Cryptoassets that allows Users to obtain liquidity in electronic money tokens (authorized stablecoins) by contributing certain Cryptoassets as collateral.
Borrow does not constitute a banking product, investment service, or regulated credit, and is not regulated or supervised by the CNMV or any other financial authority.
Access to and use of the Borrow Product is subject to express acceptance of the product-specific terms, as well as the Platform's General Terms and Conditions.
Specific economic conditions of the Borrow Product shall be detailed and accepted by the User when activating the Borrow Product through a specific agreement presented on the Platform.
In case of contradiction between these Specific Terms and the specific Borrow Product agreement, the latter shall prevail.
The User must provide Cryptoassets accepted by the Platform as collateral for the Borrow Product. Eligible Cryptoassets as collateral may vary over time and shall be those indicated on the Platform at all times. The User is responsible for maintaining the required collateral level at all times in accordance with the applicable liquidation margin.
If collateral value falls below the maximum permitted threshold, the User expressly authorizes the Platform to liquidate collateral in whole or in part without prior notice. Liquidation may be carried out in the form, time and conditions the Platform deems reasonable according to market conditions. The User acknowledges that collateral liquidation may result in losses and that such losses arise from the risk inherent to Cryptoasset volatility.
The User may repay financing in whole or in part in accordance with conditions indicated in the Borrow Product specific agreement. Once all amounts due are repaid, remaining collateral shall cease to be tied to the Borrow Product.
To use Services provided through the Platform, the User must register as a User and provide requested personal data, which will be processed in accordance with the Privacy Policy.
Access to and use of the Platform are conditioned on prior reading and acceptance of these Terms and Conditions.
The User acknowledges and accepts that use of the Services implies contribution of funds and assumption of economic risks, and that positive or negative outcomes may occur depending on Service conditions and external factors.
However, the User acknowledges and accepts that Services offered through the Platform do not constitute a savings product or regulated financial instrument, nor imply the existence of guaranteed capital.
The User acknowledges and accepts that Services offered through the Platform are based on distributed ledger technologies (blockchain) and third-party protocols that are neither owned nor controlled by RAND.
These protocols, mostly open source, may be modified, updated or forked by developers or the relevant community, which may affect operation, availability, interoperability or value of Cryptoassets.
RAND does not guarantee continuous, uninterrupted or error-free operation of underlying blockchain networks or third-party protocols used, nor does it assume liability for consequences arising from failures, interruptions, modifications or forks of such protocols outside its reasonable control.
In the event of a fork, relevant update or any substantial modification of a blockchain protocol that may affect Service provision, RAND may, when reasonably necessary, temporarily suspend operations, adapt its systems, or decide not to support a specific protocol or cryptoasset, whether original or alternative.
The User acknowledges and accepts that such circumstances may impact Service operation or Cryptoasset value, without generating any right to compensation against RAND, provided RAND has acted with reasonable due diligence.
Without the following list being exhaustive, the User undertakes to refrain from carrying out, whether directly or indirectly, or through a third party, any of the following actions:
RAND reserves the right to deny or withdraw access to the Platform and/or Services, without prior notice, from Users who breach any of the actions indicated in this section.
The User may request cancellation of their User account through the Platform or by sending an email to hello@rand.network, only from the email address with which they registered. RAND reserves the right to request supporting documents and/or additional information in order to verify the identity of the requester and the truthfulness of the cancellation request, as well as the information provided by the User. The identity document number and email address associated with the User will remain blocked after cancellation, so that a new account cannot be created using the same data. Information related to transactions will not be deleted. The retention period for the User's personal data will be governed by the provisions of the Privacy Policy, which is permanently available on the Platform.
RAND provides Users with information regarding password security and offers the possibility of accessing the account through two-factor authentication systems (2FA), which significantly increase access security. RAND is not responsible for loss of funds, damages, or losses resulting from misuse, theft, or compromise of the User's access credentials. In accordance with these Terms and Conditions, RAND presumes that all transactions made from a User account have been made by that User, who acknowledges and accepts being solely responsible for the use of their account and for the consequences, direct or indirect damages, that may result from such use. If the User detects that their account has been compromised or that unauthorized transactions have been carried out, they must notify RAND as soon as possible by email at support@rand.app, for the purpose of proceeding, where applicable, with preventive account blocking. In case of forgotten or lost password, the User may recover it through the means enabled on the Platform or by contacting RAND by email at support@rand.app.
Pursuant to Article 103 of Law 3/2014 of 27 March, certain operations are excluded from the right of withdrawal. Consequently, Services provided through the Platform are not subject to that right.
RAND may amend these Terms and Conditions at any time by publishing the amendments on the Platform and, where appropriate, notifying the User by electronic means. Continued use of the Platform after publication of amendments implies full acceptance thereof. If the User does not agree, they must stop using the Platform.
All content on the Platform, including designs, text, graphics, logos, images, videos, databases, software, and other elements (the “Content”), is owned by RAND or its licensors and is protected by intellectual and industrial property regulations.
The Content may not be reproduced, modified, distributed, publicly communicated, or used for purposes other than those expressly authorized, without the prior written consent of the rights holder.
Access to the Platform does not grant the User any industrial or intellectual property rights over the Content; only a limited, non-exclusive, and revocable license is granted for use in accordance with these Terms and Conditions.
In accordance with Regulation (EU) 2016/679 (General Data Protection Regulation) and other applicable regulations, the User is informed that personal data provided through the Platform or by email will be processed by RAND, as data controller, for the purpose of managing User registration, allowing access to and use of the Platform, processing requested operations, handling inquiries or requests, and sending communications and notifications related to the Services.
The User may obtain additional and detailed information on the processing of personal data in the Privacy Policy, which must be read and accepted in order to use the Services.
RAND undertakes to comply with confidentiality obligations regarding personal data and to adopt the technical and organizational measures necessary to ensure security and prevent alteration, loss, processing, or unauthorized access, taking into account the state of technology at all times.
Furthermore, RAND informs that access to and browsing of the Platform, without the User completing the registration process, does not imply automatic collection of personal data that directly identifies the User.
However, during browsing, certain non-personal and non-identifiable data may be collected through data storage and retrieval devices, such as cookies, for the purpose of obtaining statistical information on Platform use and improving operation.
The User may accept, reject, or configure cookie use through the banner enabled when accessing the Platform. For more information, please consult the Cookies Policy.
Operations carried out through the Platform, including those related to Cryptoassets, may be recorded on blockchain networks or public distributed ledgers.
These blockchains function as distributed and decentralized records that allow immutable transaction recording.
The User acknowledges and accepts that, due to the nature of public blockchains, information recorded on them may be subject to technical or forensic analysis, which may in certain cases lead to deanonymization of addresses or indirect disclosure of financial information, especially when blockchain data is combined with information from other sources.
Since blockchains are decentralized infrastructures or managed by third parties unrelated to RAND, RAND has no control over them and cannot modify, delete, or alter information recorded on those networks, including, where applicable, personal data that may be indirectly derived from transactions.
For more information on personal data processing and limitations in blockchain environments, the User may consult the Privacy Policy.
For any interpretative or contentious matters related to the website or application, Spanish law shall apply. In case of dispute, both parties agree to submit, expressly waiving any other jurisdiction that may correspond to them, to the jurisdiction of the Courts and Tribunals of the city of Madrid (Spain), provided that the dispute does not concern an economic transaction. In the event that the dispute arises from an economic transaction with a User who has consumer status, it shall be resolved according to the jurisdiction of the Courts and Tribunals of the consumer's domicile. The User may also submit any complaint deemed appropriate through the following link: https://support.rand.app/hc/es-es/requests/new.
If links or hyperlinks to other Internet sites are made available, RAND will not exercise any control over such sites and content. Under no circumstances will RAND assume any liability for the content of any link belonging to a third-party website, nor guarantee the technical availability, quality, reliability, accuracy,
scope, truthfulness, validity, or constitutionality of any material or information contained in any such hyperlinks or other Internet sites.
Likewise, inclusion of these external connections does not imply any association, merger, or participation with connected entities.
It is expressly prohibited to introduce hyperlinks for commercial purposes on websites unrelated to RAND that allow access to the Platform without RAND's express consent.
In all cases, the existence of hyperlinks on websites unrelated to RAND shall in no case imply the existence of commercial relations with the owner of the website where the hyperlink is established, nor RAND's acceptance thereof.
Once the User's friend meets the requirements established in this Referral Program, the User will receive a reward equivalent to 0.45% of the referred friend's balance during the first sixty (60) days, with a maximum limit of five hundred euros (EUR 500) per referred friend, which will be deposited in the User's RAND account.
Likewise, the referred friend will receive a reward equivalent to 0.45% of their balance during the first sixty (60) days, with a maximum limit of five hundred euros (EUR 500), which will be deposited in their RAND account.
Only persons who are not RAND clients and who have not previously requested a RAND account may be referred.
RAND's referral program will be carried out during the period in which the corresponding functionality is available within the RAND application.
The Referral Program is an opportunity for RAND Users to obtain a reward for each successful referral, with no maximum number of invitees, provided that the requirements established in these Terms and Conditions are met.
Only Active RAND Users may make referrals. An Active User is understood as a client who:
An Eligible Invitee is a client who:
Eligible Users shall have the right to receive a reward equivalent to 0.45% of the amount deposited by the Eligible Invitee, provided that the instructions established for both the Eligible User and the Eligible Invitee are fulfilled.
For each Eligible Invitee, the Eligible User must:
After receiving the invitation from the Eligible User, the Eligible Invitee must:
The following is not permitted:
RAND does not guarantee obtaining rewards under the Referral Program and provides no express or implied warranties regarding it. RAND shall not be responsible for errors, interruptions, or omissions related to the Referral Program or obtained rewards.
If one or more clauses of these Terms and Conditions are declared null by any competent authority or court, such nullity will not affect the validity of the remaining clauses, which shall remain fully in force and effect. The User shall be solely responsible for compliance with any tax obligations corresponding to them.
The User may not assign to any third party their contractual position or any rights or obligations arising from these Terms and Conditions.
The User gives express consent for all information related to their status as User, their account, and use of the Platform to be notified or communicated by electronic means.
By virtue of this consent, RAND may send automatic notifications (push) to the User's mobile device to provide information relating to price changes of Cryptoassets, Service updates, promotional communications, and other related messages, such as confirmations or transaction receipts.
The User may disable push notifications at any time by modifying the corresponding settings on the device used to access the Platform.
RAND provides Users with a support service, operating Monday to Friday from 10:00 to 18:00, through communications sent to the following email address: support@rand.app.
PECUNIA CARDS EDE, S.L.U. is an Electronic Money Institution supervised by the Bank of Spain and registered under number CSB 6707, whose commercial name is 'PECUNPAY'. PECUNIA CARDS EDE, S.L.U. acts as issuer and manager of the payment account associated with the Checking functionality. For any issue related to operation of that payment account, the User must contact the payment service provider directly through the following email address: servicioatencioncliente@pecuniacards.es.
The general and specific conditions detailed below regulate the contractual relationship between PECUNIA CARDS EDE, S.L.U., with NIF B86972346 (hereinafter, “PECUNPAY”), with registered office at Avda. de Bruselas Nº35, 28108 – Alcobendas (Madrid) – and registered in the Mercantile Registry of Madrid: T. 32368, F. 1, H. M-582661, 1st Entry and the owner (hereinafter, “OWNER”), in relation to the financial services described therein.
PECUNPAY is an Electronic Money Entity (EDE), authorized by the Ministry of Economy and registered with the Bank of Spain under number 6707. It is legally authorized and qualified to issue, administer, and manage electronic money and electronic/magnetic payment methods, as well as to provide payment services. It is supervised by the Bank of Spain, with headquarters at Calle Alcalá 48, 28014, Madrid.
PECUNPAY has appointed Banco Sabadell, Unicaja Banco, Banco Inversis, and ABANCA as depository entities for client funds, for the safeguarding of funds and the development of its activity as an electronic money issuer.
PECUNPAY makes the following information available to the HOLDER regarding its contact details:
Telephone: +34 91 345 78 17 | 900 264 741
Contact email: atencionalcliente@pecuniacards.es
Website: https://pecunpay.es/
This agreement establishes the terms and conditions that will govern the electronic money account contract between PECUNPAY and the HOLDER (hereinafter, the "Agreement").
The opening of the electronic money account is linked to the opening of a debit card (hereinafter, "Card"), which the interested party expressly agrees to open within the Contract signed and ratified by the parties.
The terms and conditions of the Card will also be governed by these General and Specific Conditions, contained in this document, except for subsequent modifications that may affect their application and validity, which will be made in accordance with and adapting at all times to current regulations.
The parties agree that the clauses contained in this Agreement shall be considered general terms and conditions of the contract, for the purposes set forth in Law 7/1998, of April 13, on General Terms and Conditions of Contract. They also agree that the language of the Framework Agreement and of communication during the contractual relationship shall be Spanish.
PECUNPAY, as the predisposing party, has expressly and previously informed the OWNER, as the adherent, of the existence of the General Conditions listed in this document.
The HOLDER expressly declares that he or she is aware of the terms and conditions, understands them, and therefore accepts their incorporation into the Contract by signing it. At any time during the contractual relationship, the HOLDER who so requests shall have the right to receive these General Contract Conditions on a durable medium. These General Contract Conditions will be provided by PECUNPAY and will be available to the HOLDER.
The OWNER represents that he or she is acting on his or her own behalf and undertakes to provide PECUNPAY with the information, documents and graphic material in accordance with the current regulatory framework that may be requested in compliance with PECUNPAY's legal obligations and those acquired by the OWNER. Likewise, PECUNIA CARDS EDE, S.L.U. NIF: B86972346 Registered in the Mercantile Registry of Madrid: T. 32368, F. 1, H. M-582661, 1st Entry Bank of Spain Registry: 6707 OWNER guarantees the veracity of the information, documents and graphic material provided to PECUNPAY.
In connection with the above, and after having fulfilled the referenced obligation, once the HOLDER has fulfilled the requirements made by PECUNPAY regarding the provision of documents, information and attachments and once they have been reviewed and approved by PECUNPAY, the account will be opened and the Card issued, according to the contracted product.
Preferential application of contractual conditions
For the purposes of the provisions of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters (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 term "consumer" shall be understood to mean the OWNER, a natural person who acts for a purpose other than that of their commercial, business, trade or profession. On the contrary, the term "non-consumer" shall be understood to mean the OWNER who acts within the scope of their professional or business activity when signing this contract.
In the event that the HOLDER is considered a "non-consumer" and provided that the regulations governing payment services and other applicable regulations so permit, the agreements included in these Contract Conditions will be applied preferentially over the general regime resulting from said regulations.
Without prejudice to 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 bond will not be in force for all purposes.
In the event that it is necessary to complete the documentation and/or information provided by the HOLDER, or to correct any defect or error, PECUNPAY will expressly notify the HOLDER via the email address provided by the HOLDER or by any other electronic means for notification purposes that is made available to PECUNPAY.
This Agreement will 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 shown on the cards issued or on any other means of payment that PECUNPAY makes available to the HOLDER.
For the purposes of this Agreement, termination is understood as the end of the Agreement, assuming such fact the termination of the Agreement for the purposes of obligations and rights arising from the parties, as a consequence of the right of the parties to request that the Agreement be rescinded exclusively under the circumstances indicated below, including the penalty that may arise, if applicable.
1.2.3.1. Voluntary termination of the contract requested by the HOLDER
Except in cases where the HOLDER has contracted several products with PECUNPAY for the management of which it is necessary to maintain an open electronic money account in the cases determined by regulation based on the regulations applicable to this effect, the HOLDER may, at any time, terminate the Contract, without needing to justify its termination in any cause, by notifying PECUNPAY in writing, without prior notice, to the address enabled for this purpose: atencionalcliente@pecuniacards.es.
In this case, PECUNPAY will proceed to comply with the Contract termination order within 24 hours of receiving the HOLDER's request. PECUNPAY will reimburse the HOLDER for any remaining balance, after applying any applicable fees and expenses up to the termination date, without exception.
If the account shows a balance in favor of PECUNPAY, the HOLDER may only terminate the Agreement upon payment of said balance, as well as any applicable interest, fees, and accrued expenses, and declares their express consent by signing this Agreement. PECUNPAY will inform the HOLDER of the need to settle any outstanding expenses at the time of the account cancellation request.
The HOLDER is advised that, in the event that he or she requests the termination of the Contract and cancellation of the contracted product(s), and any outstanding balance refund transactions are pending that must be made to the account or card associated with it (e.g., a refund, requested by the HOLDER, of a purchase made by him or her at a Merchant, where said refund must be made to the card or account through which the payment was made, etc.), the refund process for said amounts may be hindered. In order for PECUNPAY to proceed with the refund, the HOLDER must provide PECUNPAY, prior to the refund, with a bank certificate of ownership of the account held by the HOLDER to which he or she wishes to have the amount to be refunded transferred, along with any other documentation that PECUNPAY may require for accreditation.
1.2.3.2 Voluntary termination of the contract requested by PECUNPAY
Likewise, PECUNPAY may terminate this Agreement by notifying the HOLDER at least sixty (60) calendar days in advance, without giving any reason.
1.2.3.3 Causal resolution
Each party may terminate this Agreement if the other party fails to comply with the terms and conditions by which it is governed or fails to pay its liquid and enforceable obligations under this Agreement.
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 by virtue of this Contract or by virtue of other contracts with PECUNPAY, expressly informing the HOLDER.
Additionally, the HOLDER is informed that PECUNPAY may terminate the Contract, without prior notice, in the event that objectively justified reasons arise related to the security of the payment instrument, due to the lack of documentation requested by PECUNPAY and it has not been provided by the HOLDER within the required period, or due to suspicion of unauthorized or fraudulent use of the same, in compliance with its legal obligations and with due diligence to this effect, as an electronic money institution and in matters of fraud prevention and other applicable regulations.
PECUNPAY will reimburse the HOLDER for any remaining balance after applying any applicable fees and expenses up to the date of termination, without exception.
For the purposes of this Agreement, withdrawal is understood to mean the right of the HOLDER, when he or she is a consumer, to terminate the Agreement without needing to justify the decision and without any penalty. The HOLDER shall have a period of 14 calendar days to withdraw from the Agreement, without stating the reasons and without any penalty applicable by PECUNPAY. If the right of withdrawal is not exercised within the indicated period, it shall be deemed to have expired and become void.
The deadline for exercising the right of withdrawal will begin to run from the day following the entry into force of the Contract. The HOLDER who exercises the right of withdrawal must notify PECUNPAY in the terms established by the Contract, before the end of the corresponding period, by a procedure that allows for the recording of the notification in any manner permitted by law. The notification will be considered to have been made within the deadline if it is made on paper or another durable medium, available and accessible to the recipient and is sent before the deadline expires. The HOLDER may exercise their right of withdrawal by writing to atencionalcliente@pecuniacards.es or to Avda. de Bruselas No. 35, 28108 – Alcobendas (Madrid), providing documentation that proves their identity (DNI or passport). Additionally, said communication must reflect: (i) name and surname; (ii) registration email; (iii) request for the application; and (iv) address.
However, if the OWNER (consumer) has not received the contractual conditions and contractual information, the period to exercise the right of withdrawal will begin to count on the day after receiving the aforementioned information.
In accordance with applicable regulations, once the HOLDER has exercised the right of withdrawal, PECUNPAY will return any amounts it has received from the HOLDER, except for those corresponding to the proportional part of the service provided. Likewise, the HOLDER will return any amounts received from PECUNPAY. Refunds will be made by both parties as soon as possible and, in any case, within 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, lack of requested documentation, or suspicion of unauthorized or fraudulent practices by the HOLDER.
When the reasons for the suspension disappear, the service or payment method will be reactivated within the timeframe established by the regulations and in accordance with operational parameters.
PECUNPAY reserves the right to modify the conditions established in this Agreement.
The modifications will be published on the PECUNPAY website and, in addition, PECUNPAY will inform the HOLDER by email to the corresponding email address provided 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 fee.
If the new conditions are beneficial to the HOLDER, PECUNPAY may provide for their automatic application after publication on the corporate website.
If the HOLDER, after learning of the new conditions, rejects them, they may terminate the Agreement by notifying PECUNPAY through the channels indicated in these Conditions, and in accordance with the provisions of section 1.2.3 of these General Conditions. Any objection to the new conditions must be made prior to the new conditions coming into effect, so that they do not apply to them. PECUNPAY will reimburse the HOLDER for any remaining balance, after applying the applicable fees and expenses up to the termination date. The HOLDER will be deemed to have accepted the modification of the conditions in question if they do not notify PECUNPAY of their non-acceptance prior to the proposed effective date.
PECUNPAY states that the deposited funds are safeguarded in accordance with the legal requirements 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 undertakes that said funds will not be mixed at any time with the funds of any other natural or legal person who is not a client of the payment services in whose name said funds are made available.
The HOLDER is informed that these funds are protected against any claims from PECUNPAY's creditors, even in the event of bankruptcy or insolvency of PECUNPAY, in compliance with current regulations regarding electronic money and payment services.
Additionally, the HOLDER is informed that PECUNPAY has appointed the banks Sabadell (Banco de Sabadell, S.A.), Unicaja (Unicaja Banco S.A.), Inversis (Banco Inversis, S.A.) and Abanca (ABANCA Corporación Bancaria, S.A) as depository entities for the clients' funds, for the management of said funds and the development of the activity as an electronic money issuer.
PECUNPAY assumes ultimate responsibility for the custody and administration of these funds. However, PECUNPAY will not be liable for any damages or losses that may arise from bankruptcy or insolvency of the depository entity, except in the case of negligence or failure to comply with the duties of due diligence in its selection and supervision, in accordance with the solvency, reputation, and regulatory standards required by current regulations.
Absence of coverage by deposit guarantee schemes
In accordance with Law 21/2011 on electronic money, electronic money does not constitute a bank deposit within the meaning of the regulations on credit institutions, so the funds delivered to PECUNPAY are not covered by deposit or investment guarantee schemes.
The fees and expenses specified in the Specific Conditions applicable to each of the different products and services contracted will apply. These fees and expenses, for each of the different products and services, will be explicitly reported in the rate brochure related to each product and service that is in effect at any given time, and are available on the PECUNPAY website.
Communications, notifications and documentation that must be made under this Agreement will be sent to the OWNER at the address and/or email address provided by the OWNER for this purpose.
Communications to PECUNPAY that the HOLDER must make will be made by email to the address: atencionalcliente@pecuniacards.es or by writing to Avda. de Bruselas No. 35, 28108, Alcobendas (Madrid).
The HOLDER is obliged to notify PECUNPAY of any changes in address, email address, contact 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 by updating them, and shall bear any loss that may occur due to the sending of invalid, incorrect or inaccurate information.
Customer Service
In the event that the HOLDER needs to make any type of operational query, report possible incidents or request technical assistance related to any of PECUNPAY's products and/or services, they may contact us via email: atencionalcliente@pecuniacards.es
Customer ServiceIf the HOLDER believes that PECUNPAY has breached any legal or contractual commitment, or the Customer Service team has not resolved the reported query/incident regarding the products and/or services provided, they may lodge a complaint with PECUNPAY's Customer Service.
In accordance with the foregoing, the HOLDER may file a complaint or claim with PECUNPAY's Customer Service Department. For these purposes, PECUNPAY makes the claim/complaint form available to the HOLDER through the PECUNPAY website. However, it may also be requested by email at servicioatencioncliente@pecuniacards.es. The duly completed document must be submitted by email to the following address: servicioatencioncliente@pecuniacards.es or by postal mail addressed to PECUNPAY's headquarters, located at Avenida de Bruselas No. 35, 28108 – Alcobendas, Madrid.
The HOLDER will have a period of two years from the date on which he or she became aware of the facts that are the subject of the complaint or claim to file a complaint or claim. Claims for facts that have exceeded the indicated period will not be admitted for processing.
PECUNPAY has a maximum period of 15 business days to resolve complaints regarding payment services, counting from the date the complaint or claim is filed. Exceptionally, if PECUNPAY is unable to issue a response within the indicated period for reasons beyond its control, it will send a provisional response indicating the reasons for the delay and the timeframe within which you will receive the final response. In any case, the deadline for issuing the final response will not exceed one month.
Please be advised that PECUNPAY is not affiliated with any Consumer Arbitration Board.
Finally, the HOLDER is informed that in the event of disagreement with the resolution or if the period indicated in the previous section has elapsed without any statement being issued by PECUNPAY, they may file a complaint with the Complaints Service of the Bank of Spain: Banco de España (Entity Conduct Department). C/ Alcalá, 48, 28014, Madrid. https://clientebancario.bde.es/pcb/es/.
However, if the HOLDER is a consumer, he/she will not be able to resort to the Bank of Spain's Complaints Service if more than (1) year has passed since the date of filing the claim or complaint with PECUNPAY's Customer Service.
This clause is drafted in accordance with the provisions of the PECUNPAY Customer Advocate Regulations, which are available to the HOLDERS on the corporate website.
The HOLDER authorizes PECUNPAY to record, by audio, computer, electronic, or other means, all data, queries, contract details, and transactions carried out through any of the offline services. The HOLDER may request a copy of these from PECUNPAY.
In compliance with Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on 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 5 December on the Protection of Personal Data and the guarantee of digital rights (hereinafter, "LOPDGDD"), and other applicable regulations, you are informed that PECUNIA CARDS E.D.E., S.L.U, with Tax ID No. B86972346 and registered office at Avenida de Bruselas No. 35, 28108 - Alcobendas, (Madrid) is responsible for the processing of your personal data.
PECUNPAY has appointed a Data Protection Officer, who will assist you with any questions regarding the processing of your personal data and the exercise of your rights. You can contact the Data Protection Officer with any suggestions, questions, concerns, or complaints at the following address: datosdpo@minsait.com.
Likewise, you are informed that your personal data (identification data, data relating to personal characteristics, economic and financial data, transactions, data relating to professional activity and business, data associated with the product and/or services contracted, as well as data relating 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 OWNER, compliance with the contractual relationship, examination and verification of personal data, identification and management of due diligence documentation, the development and management of loyalty programs, notification of any type of incident that may arise during the contractual relationship, communication of possible modifications to 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 any objection from the OWNER-, being legitimized to do so 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) set out in article 9 of the GDPR, for which, and in any case before processing, you will be informed and your prior and express consent will be required.
The OWNER is informed that PECUNPAY will process and retain their 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 retained for the duration of the contractual relationship and, subsequently, for the time necessary to comply with PECUNPAY's legal obligations and until any potential legal liabilities expire. Pursuant to the foregoing, once the contractual relationship has ended, your data will be retained, duly blocked, for the legally required periods in compliance with applicable regulations, in particular, for the 10-year period established in the applicable regulations on the prevention of money laundering and terrorist financing. After this period, your data will be securely and permanently deleted, unless there is another legal obligation that imposes a longer retention period.
Data communication
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 and for secure customer authentication. Likewise, your data may be accessed by PECUNPAY's third-party service providers, with whom PECUNPAY has entered into the relevant personal data processing agreement, guaranteeing legitimate and secure processing of your data. These include consulting firms, personal data verification entities, external technology service providers, and similar entities, when necessary for contract management.
Likewise, your data may be communicated to public authorities and bodies, official authorities and judicial bodies, or public security forces and bodies in compliance with legal obligations and for the purpose of enforcing compliance with the obligations contracted, always within the functions legally entrusted to such authorities, 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 within and outside the European Union (hereinafter, "EU") and the European Economic Area (hereinafter, "EEA"), in compliance with the above.
If 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 specific offer and/or service from which you wish to benefit. This transfer will be made for the purpose of managing access, enjoyment, and/or provision of the offer, promotion, and/or service. This transfer will only be made when the OWNER has requested or agreed to participate in the offer or benefit from the corresponding service. The interested party's consent thus constitutes the legal basis that legitimizes this communication. In any case, you will be informed in advance of the identity of the entity receiving your data and the essential details of the corresponding processing.
PECUNPAY may verify the information provided by the HOLDER, assess their transactions, and check their solvency. To this end, it is authorized to collect, communicate, request, and exchange information about the status of their accounts with other solvency files or public registries, with financial institutions, credit assessment and fraud prevention companies, as well as with the Bank of Spain. PECUNPAY may consult them periodically. These actions are necessary for PECUNPAY in order to make the relevant inquiries to comply with its analysis obligations regarding fraud, prevention of money laundering, and terrorist financing. The HOLDER will be responsible for the truthfulness and accuracy of all personal data provided to PECUNPAY. Furthermore, PECUNPAY informs you that it has signed a joint responsibility agreement with DOWJONES, for the purpose of analyzing the information you provided during the contracting process, specifically the information included in Your KYC (Know Your Customer) compliance, in compliance with PECUNPAY's legal obligations regarding the prevention of money laundering and terrorist financing.
Information about automated decisions
PECUNPAY informs you 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 operations of the registered account and Card, specifically when: (i) the HOLDER does not complete all the personal data required in the KYC; (ii) the comparison of the data provided in the KYC shows that the HOLDER appears on a list that does not allow the card to be contracted; (iii) the KYC procedure has not been successfully completed; (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 filing claims with the Data Protection Authority (Spanish Data Protection Agency "AEPD")
You may exercise your rights of access, rectification, objection, erasure, restriction of processing, portability, and objection to automated decision-making, as well as revoke your consent, where applicable, by writing to PECUNPAY's Data Protection Officer at Avda. de Bruselas No. 35, 28108, Alcobendas (Madrid); or by email at datosdpo@minsait.com. In all cases, you must prove your identity by sending a photocopy of your ID/Tax ID number.If you believe that your rights have not been properly respected or that PECUNPAY has failed to comply with its obligations regarding the protection of personal data, you have the right to file a complaint with the Spanish Data Protection Agency (https://www.agpd.es).
For more information about the processing of your data, you can consult PECUNPAY's Privacy and Data Protection Policy, available on the website.
PECUNPAY, as an Electronic Money Entity, is subject to current regulations on the prevention of money laundering and terrorist financing, in particular, Law 10/2010 of April 28, on the prevention of money laundering and terrorist financing and its implementing regulations, as well as all other applicable regulations.
The HOLDER is informed of the legal obligations applicable to PECUNPAY regarding the prevention of money laundering and terrorist financing, concerning the identification of the HOLDER and the beneficial ownership, shareholding or control structure in the event that 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 any time by current legislation, including those related to the knowledge and continuous monitoring of the business relationship.
In compliance with these obligations, the HOLDER undertakes to provide all information that allows PECUNPAY to verify the information indicated in the previous paragraph, as well as to keep it updated during the term of the contractual relationship, and the HOLDER must provide, in a timely manner, all information and documentation that may be required at any time by PECUNPAY for compliance with the aforementioned obligations.
In the event that the HOLDER is a natural person, and unless otherwise stated by the HOLDER, the HOLDER expressly declares that he or she acts before PECUNPAY in his or her own name and right, recognizing himself or herself, for all purposes, as the REAL HOLDER of his or her relationship with PECUNPAY.
For these purposes, the OWNER additionally expressly agrees to assume the following obligations, authorizations and measures derived from the application of the regulations for the prevention of money laundering and terrorist financing:
The HOLDER authorizes PECUNPAY to request information about the HOLDER's identity or activity from any entity - whether public or private;
The HOLDER must notify PECUNPAY without delay of any change in his or her identification, the identification of the beneficial 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 compliance with the obligations established in matters of prevention of money laundering and terrorist financing, or If PECUNPAY detects risks related to the reference regulations, PECUNPAY reserves the right to block the operation of the card(s) and terminate the contractual relationship between the parties immediately and without prior notice to the HOLDER, in accordance with its internal procedures and applicable regulations.
In the event that the competent authorities require information about the HOLDER or operations carried out by him/her pursuant to regulations on the prevention of money laundering and terrorist financing, PECUNPAY is authorized to provide such information when legally required, without the need to notify the HOLDER, in compliance with its legal obligations.
Likewise, in compliance with Royal Decree 304/2014, of May 5, which approves the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and terrorist financing, it is reported that the data of the OWNER, representative and authorized parties may be transferred to the Financial Ownership File.
This Agreement shall be interpreted and fulfilled in its own terms and, in all matters not provided for, shall be governed by Spanish law on the matter, adjusting the obligations and responsibilities of the parties accordingly.
The parties submit to the jurisdiction of the Courts and Tribunals of Madrid Capital for any matter relating to the interpretation, compliance or execution of this Contract, expressly waiving any jurisdiction that may apply to them, unless the OWNER is a consumer, in which case the rules on determining jurisdiction regulated by current legislation will apply, since article 29 of the Law on Information Society Services (LSSI) establishes a presumption consisting of the following:
"Contracts concluded electronically in which a consumer is involved shall be presumed to have been concluded at the consumer's place of habitual residence. Electronic contracts between businesspeople 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."
At the same time, Article 54 of the LEC establishes that:
“2. Express submission contained in adhesion contracts, or those containing general conditions imposed by one of the parties, or those entered into with consumers or users, will not be valid.” This is in accordance 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 Agreement regulates the opening of an electronic money account (hereinafter, "Account") with PECUNPAY, in the name of the HOLDER, which is linked to a Card.
The account is associated with the Card and other electronic media, so that all transactions carried out through such means will be reflected in the Account.
The PECUNPAY card, in its various forms, physical or virtual, (hereinafter, "Card") is a MASTERCARD/VISA debit card that 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 over the internet, as long as the website accessed accepts this payment method, in which case, the cardholder will be subject to the conditions established therein.
Likewise, the Card will allow any other operations that PECUNPAY makes available to the HOLDER, with the express knowledge and consent of the HOLDER.
Under no circumstances will the card balance accrue interest or any other type of remuneration in favor of the CARDHOLDER.
Geographic scope
For both the opening of the electronic money account and the issuance of the Card by PECUNPAY, the HOLDER must be a resident of a country belonging to the European Economic Area (hereinafter, "EEA"). The HOLDER may generally use the account in any country, both within and outside the EEA. However, PECUNPAY may extend this geographical scope to citizens who are not residents of the EEA, provided that they meet the legal and regulatory compliance requirements established by Spanish and European legislation.
Furthermore, you are 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 regarding international sanctions, prevention of money laundering and terrorist financing and other applicable regulations, and/or for security reasons.
The issued Card is the exclusive property of PECUNPAY and must be returned to PECUNPAY in the event of cancellation, expiration, or upon PECUNPAY's request. The Account and Card HOLDER will be a natural or legal person, whose identity must be stated on the Account and Card, which means they have the right to use it.
The HOLDER authorizes PECUNPAY to open an Account, as well as to issue a Card linked to the aforementioned Account and assigned in the HOLDER's name.
If the CARDHOLDER requests additional cards, each Card may be associated with the same or a different account, depending on the operating model of the program to which the CARDHOLDER subscribes. The CARDHOLDER's request for one or more additional cards will imply their consent to charges made by PECUNPAY to their Account as a result of transactions and withdrawals made with said additional cards.
After completing the registration process form in the PLATFORM mobile application, completing the user identification process, and once it has passed our internal checks, the account will be registered.
The Card will be valid until the expiration date shown on the Card.
If the Account is cancelled before that date, the Card will cease to be operative from the moment of such cancellation, and its validity will be linked to that of the associated account.
Once the Cardholder has requested the Card and passed internal security checks, the Card will be issued and sent to the Cardholder 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 usage conditions and available balance.
Without prejudice to the foregoing, PECUNPAY reserves the right to cancel or modify the expiration date of the cards during their validity period, as well as the right not to renew them once the expiration date has been reached. In such case, the HOLDER will lose all rights related to the use of the Card, and PECUNPAY will notify them by express communication through the usual channels.
For the cardholder's use of the card, they may set a limit on the amount, beyond which it may not be used without their express authorization. Likewise, upon request from the cardholder to PECUNPAY, limits on the card's use may be set for specific periods (days).
These limits may not exceed the limits established by PECUNPAY at any given time.
The maximum total amount of transactions that can be carried out at any given time will be determined by the available amount in the account, unless PECUNPAY has established other, more restrictive limits for certain transactions for operational, control, and security reasons. Cash withdrawal limits established at ATMs and transaction limits in stores will also apply, as will cash withdrawals and deposits through the private network.
PECUNPAY reserves the right to block the use of a payment instrument and account for objectively justified reasons related to the security of the payment instrument, suspicion of unauthorized or fraudulent use thereof. PECUNPAY will inform the HOLDER of the blocking of the payment instrument by The email address provided by the HOLDER to receive notifications. This communication will be made prior to blocking and, if this is not possible, immediately afterward, unless the communication of such information would be compromised for objectively justified security reasons or would be 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 no longer exist.
The Account and Card will be used in accordance with the instructions for use established by PECUNPAY in this Agreement and on its own website, without prejudice to PECUNPAY's right to modify such instructions for use, as stipulated in Clause 1.5.
Each transaction will be recorded by PECUNPAY, and the HOLDER may access such information through the website and mobile app corresponding to each product.
Information regarding the terms and conditions applicable to the services and payment transactions will be free of charge for the HOLDER and will be accessible through the customer area made available to them.
However, any additional or different information requested by the HOLDER will generate a fee, which will be charged according to PECUNPAY's rates. Furthermore, PECUNPAY may also charge the HOLDER for any fees incurred by the termination of the Agreement, the revocation of payment orders, and any fees arising from the recovery of funds for payment transactions executed with an incorrect unique identifier, as set forth in PECUNPAY's rates in each case.
The HOLDER expressly authorizes PECUNPAY to record the transactions carried out by the HOLDER in the payment account.
In relation to card transactions, the validity of the withdrawal made will be presumed based on the invoice, dataphone receipt, electronic terminals for recording and/or authorizing transactions, reading of the magnetic strip or electronic chip or any other means of identification established in the card's terms of use, even if the cardholder's national identity document, Personal Identification Number, or signature is not required. The same consequences apply to non-face-to-face (online) sales.
The effective use of the card will be presumed by the mere recording of the transaction in PECUNPAY's computer files.
2.6.1. Consent and withdrawal of consent
Payment transactions will be considered authorized when the CARDHOLDER has given consent for their execution. The CARDHOLDER will be deemed to have consented to the transaction when it has been carried out through any of the channels provided by PECUNPAY, including, but not limited to, any use of their card, card number, or PIN.
Any debits from the account that are duly authorized by the HOLDER or are the responsibility of the HOLDER will be accepted.
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 irrevocability date referred to in Articles 36 and 52 of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters.
However, if the HOLDER does not have the status of consumer or micro-enterprise under the terms specified in Royal Decree-Law 19/2018, of November 23, they may not withdraw their consent.
2.6.2. Receiving payment orders
A payment order will be considered received by PECUNPAY at the time the HOLDER has given his 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 of the established cut-off hours, it will be considered received on the following business day. PECUNPAY will inform the HOLDER of the applicable cut-off time through its official channels.
The HOLDER's account will not be debited until the payment order is received.
If the HOLDER and PECUNPAY agree that execution of the payment order will begin on a specific date or at the end of a specific period, or on the day the HOLDER has made funds available to PECUNPAY, the date of receipt will be deemed to be the agreed day. If this day is not a business day for PECUNPAY, the payment order will be deemed to have been received on the following business day.
For payment orders initiated via card, PECUNPAY will receive the payment order on the same day it is placed by the CARDHOLDER and will be executed immediately upon receipt. However, in certain establishments (e.g., highways, parking meters, etc.), executed payment orders may be debited from the account associated with the card after the execution date.
PECUNPAY will credit the HOLDER's account with the total amount of the transaction received. However, PECUNPAY may deduct its expenses from the transferred amount before crediting it to the Account.
2.6.4. Deadline for executing payment transactions
(a) For payment transactions in euro, as well as for national payment transactions in the currency of a Member State of the European Union that is not part of the euro area, and likewise, 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, 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 transactions, the cross-border transfer is made in euro, the following rules shall apply regarding the maximum execution period for payment transactions:When PECUNPAY is the payer's payment service provider, upon receipt of the order, it will ensure that the amount of the payment transaction is credited to the payee's payment service provider's account by the end of the following business day at the latest.
b) For payment operations not contemplated in the previous letter, PECUNPAY may extend the execution period of the operation which, in any case, does not will exceed four business days from the date of receipt of the payment order.
2.6.5. Value date and availability of funds
The value date of the charge to the account of the HOLDER ordering the transaction will not be earlier than the business day on which the amount of the payment transaction is charged to said account. The value date of the credit to the beneficiary's account will not be later than the business day on which the amount of the payment transaction is credited to the beneficiary's payment service provider's account.
2.6.6. Rectification of payment transactions
The HOLDER will obtain rectification from PECUNPAY of an unauthorized or incorrectly executed payment transaction only if the HOLDER notifies PECUNPAY without undue delay, as soon as he or she becomes aware of any of said transactions that are 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 neither a consumer nor a micro-enterprise under the terms established in Royal Decree-Law 19/2018, of 23 November, on payment services and other urgent measures in financial matters, the period indicated as the maximum period for obtaining the rectification of an unauthorised or incorrectly executed payment transaction will be 10 calendar days only if the payment service user notifies the consumer without undue delay, as soon as he or she becomes aware of any of the transactions referred to in the previous paragraph.
The notification deadlines set out in the preceding paragraph shall not apply when PECUNPAY has not provided or made available to you information regarding the payment transaction.
2.6.7. Unique identifier
The Unique Identifier is the combination of letters, numbers, or symbols assigned by PECUNPAY to the HOLDER to uniquely identify the HOLDER or his or her account or payment card in a payment transaction. For such purposes:
a) The Unique Account Holder Identifier for the identification of your account will be the IBAN (International Bank Account Number);
b) The Unique Cardholder Identifier for identifying your card will be the card number (PAN).
When a payment order is executed according to the unique identifier, it shall be deemed to have been properly executed in relation to the beneficiary specified in that identifier.
If the unique identifier provided by the HOLDER is incorrect, PECUNPAY will not be liable for the non-execution or defective execution of the payment transaction.
2.6.8. Liability in the event of non-execution or defective execution of a payment order
When a payment order is not executed or is executed incorrectly, PECUNPAY will act in accordance with the provisions of Article 60 of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters.
This article stipulates that if a payment transaction is not executed or is executed incorrectly, the payment service provider is responsible for correcting the situation and refunding the user the corresponding amount, restoring the account to the state it would have been in if the transaction had been executed correctly. Furthermore, in cases of unjustified delay in the execution of a payment transaction, the provider must ensure that the value date of the credit does not fall later than it would have been if the transaction had been executed correctly.
2.6.9 PECUNPAY's liability in the event of unauthorized payment transactions
If an unauthorized payment transaction is executed using the Card, PECUNPAY will refund the amount immediately and, in any case, no later than the end of the business day following the day on which it detected or notified you of the transaction. This refund will not be applied if PECUNPAY has reasonable grounds to suspect fraud or gross negligence on the part of the CARDHOLDER, in which case it may withhold the refund while the relevant investigation is carried out.
2.6.10 Responsibility of the HOLDER in case of unauthorized payment transactions
The Cardholder may be liable, up to a maximum limit of fifty (50) euros, for losses arising from unauthorized transactions made with a lost, stolen or misused payment instrument, unless it would not have been reasonably possible to detect its loss, theft or misuse before payment, or if this fact was attributable to the action or omission of PECUNPAY or its employees.
The OWNER shall be fully liable for all losses if it has acted fraudulently or with gross negligence, or if it has deliberately breached any of the obligations set forth in these Terms and Conditions.
2.6.11 Notification of unauthorized or incorrectly executed transactions
The HOLDER must notify PECUNPAY without undue delay of any unauthorized or incorrectly executed payment transaction, as well as any error or irregularity detected.
This notification must be sent to atencionalcliente@pecuniacards.es, indicating the transaction 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 immediately correct the transaction.
The CARDHOLDER must first pay a sufficient amount to top up the recharged amount. Accounts may be recharged as many times as desired up to the limit assigned by the CARDHOLDER or PECUNPAY.
The HOLDER may recharge the account through the following channels, when enabled in the contracted offer:
1. Within the mobile app corresponding to each product, using the recharge POS (Virtual).
2. By bank transfer. 3. By any other procedure that may be established by PECUNPAY.
3. By any other procedure that may be established by PECUNPAY.
Withdrawing cash from the account will involve, on the one hand, the prior transformation of the electronic money in the account into cash and, on the other hand, the relevant entry in the HOLDER's account.
The account may not reflect a negative balance resulting from transactions carried out by the HOLDER, so the HOLDER must have a sufficient balance for each transaction requested.
If for any reason (including, but not limited to, a technical error attributable to PECUNPAY or any of its third-party providers) the HOLDER has a negative balance in his or her account, he or she agrees to immediately top up the account in an amount sufficient to satisfy the financial obligations arising from the Agreement. If the HOLDER does not regularize the negative balance, and without prejudice to PECUNPAY's right to terminate the Agreement in accordance with Clause 1.2.3:
1. PECUNPAY may initiate a chargeback procedure for any specific transaction that results in your account having a negative balance;
2. PECUNPAY may take any measures it deems appropriate to collect the debt out of court or in court. The HOLDER shall be obligated to satisfy and compensate PECUNPAY for all damages, losses, and expenses of any kind (including legal costs) incurred by PECUNPAY due to breach of the Contract or due to any actions PECUNPAY has taken to collect the debt. By way of example, but not limited to, the HOLDER shall be obligated to bear: expenses arising from actions PECUNPAY takes to collect the debt (payment requests by mail, telephone, notary, or other means), as well as those arising from judicial or extrajudicial proceedings (attorney's fees, solicitor's fees, etc.).
The HOLDER may check the available balance of the account on the website, in the "customer area" section, in the mobile application corresponding to each product, as well as by SMS when enabled.
No business or establishment will be able to inform you about your account balance. Likewise, balance inquiries at ATMs are not available.
The HOLDER agrees to cooperate with all requests made by PECUNPAY or any of its third-party service providers on its behalf in connection with your account to identify or authenticate your identity or validate your funding sources or transactions. This may include, but is not limited to, requesting additional information that allows PECUNPAY to reasonably identify you, including requiring you to take steps to confirm ownership of your phone number or payment instruments or verify your information against third-party databases or through other sources.
PECUNPAY reserves the right to close, suspend, or limit access to your account and/or the Payment Services if it is unable to obtain or verify such information or if it fails to comply with your requests as set forth in the preceding paragraph.
PECUNPAY may confidentially verify the information provided by the HOLDER or obtain information about the HOLDER or third parties from secure databases. The HOLDER confirms that he or she gives his or her consent to PECUNPAY or a third party on his or her behalf to perform such verifications.
The account holder must ensure that the information in his or her account is always accurate and up-to-date. If at any time PECUNPAY believes that his or her information is outdated or inaccurate, he or she may contact the account holder and request more information or request that he or she re-verify the account. PECUNPAY will not be liable for any losses arising from his or her failure to keep the information up-to-date.
The opening of an electronic money account and the issuance of associated cards are strictly reserved for individuals over 18 years of age and legal entities duly incorporated in accordance with applicable law.
The HOLDER represents and warrants that they meet this age requirement. If the HOLDER is a legal entity, the representative represents that they have the necessary authority to execute this Agreement. If it is detected that the Account has been opened or the Card has been issued to a minor, PECUNPAY may immediately cancel the contract and associated services, without prejudice to any legal action that may arise. Additionally, PECUNPAY will not be liable for failure to comply with this obligation to the extent that it has taken the legally required precautions to verify the identity and circumstances of the HOLDER.
For debiting amounts derived from using the card abroad, the exchange rate to euros will be applied to the currency of the country of origin of the transaction corresponding to the day on which PECUNPAY paid the amount of the transaction.
The exchange rate for the currency to euros will be increased by the fees that PECUNPAY has established for transactions carried out abroad.
The HOLDER shall be subject to current legislation regulating the limits set by the competent monetary authorities for spending abroad, as well as the exchange control regime and the declarations that the HOLDER is required to file. The HOLDER shall be liable for non-compliance with said regulations, and PECUNPAY shall not be held responsible. Any expenses incurred must be justified by the HOLDER to the authorities that require them. PECUNPAY shall not be held responsible 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 (hereinafter, "SCA") mechanisms to guarantee security in accessing the electronic money account and in the execution of payment transactions with the Card and/or electronic money account.
2.13.2. Definitions
For the purposes of this clause, the following definitions apply:
- Strong Customer Authentication (SCA): An authentication process that requires at least two elements from the following factors: • Knowledge: something that only the HOLDER knows (e.g., password or PIN).
• Possession: Something that only the HOLDER possesses (e.g., a registered mobile device, security token, or one-time code –OTP–).
• Inherence: something that is unique 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 method, including: CVV, PIN, login credentials, email, phone number, card number, among others.
2.13.3. Authentication Factors
The verification of the OWNER's identity through the SCA system is based on the combination of at least two of the following factors, as indicated:
• Knowledge: something that only the HOLDER knows (e.g. password or PIN).
• Possession: Something that only the HOLDER possesses (e.g., registered mobile device, security token, or OTP code).
• Inherence: something that is unique to the HOLDER (e.g. fingerprint or facial recognition).
PECUNPAY will never request any of the aforementioned authentication factors by email, phone, or other means. The HOLDER should ignore and report any suspicious communications requesting this type of information.
2.13.4 Protection of Sensitive Data
The following are considered sensitive data of the HOLDER, among others:
- CVV.
- Expiration date of payment elements (cards and similar)
- PIN for payment items.
- Passwords and login credentials.
- Terminals and digital elements where the app or apk is installed
- OTP codes or one-time passwords.
- Email.
- Mobile phone number.
PECUNPAY will store such data in encrypted form and only for the time strictly necessary to provide the service. The PECUNPAY application uses secure communication channels (SSL/TLS) that guarantee the integrity and confidentiality of the data transmitted.
With the issuance of the Card, PECUNPAY will provide a Personal Identification Number (PIN), which the HOLDER, if applicable, may modify and which will be required for any use of the card by the provider of the good or service, in order to prove that he or she is the legitimate HOLDER.
This PIN will be requested by the HOLDER through the PECUNPAY website, in the "customer area" section or through the Mobile Application, corresponding to each product.
In the event that you can carry out transactions without entering your PIN (for example, in contactless transactions), this will be within certain limits that PECUNPAY will determine at any given time. In such transactions, bringing the Card close to ATMs, POS terminals, or other payment devices will be understood as authorization and confirmation of the transaction by the CARDHOLDER. The registration of the transaction on said devices will serve as proof of completion, unless there have been technical failures or incidents. PECUNPAY is not responsible for any incidents that may occur with merchants. Therefore, PECUNPAY will not be liable for charges made by third parties if you have failed to fulfill your obligation to diligently safeguard the Card or any other physical element containing your Payment Card. PINs are non-transferable personal identification systems that must be your exclusive knowledge as CARDHOLDER and must be kept under your control. The HOLDER is obligated to diligently safeguard the mobile phone for this purpose and, if applicable, to report the loss or theft of the mobile device to PECUNPAY.
PECUNPAY uses card security systems for online payment.
PECUNPAY reserves the right to refuse the use of cards over the Internet or through equivalent channels that require similar security measures when said cards have not been properly secured. As a Cardholder, you may have Digital Wallets, which will be used as a means of payment, with the same effects as withdrawals made through the Card. PECUNPAY will apply reinforced authentication through the use of at least two authentication factors, in accordance with current payment services regulations.
The HOLDER is obliged to:
a) Comply with the terms of use stipulated in this Agreement and, in general, use the payment instrument in accordance with the conditions governing its issuance and use. b) Comply with all obligations arising from this Agreement.
c) Accept as supporting documents for the operations previously mentioned, whether carried out by the OWNER or by third parties, with or without the OWNER's authorization.
d) Immediately notify PECUNPAY of any irregularities in the transaction records appearing in your account.
e) Be responsible for the veracity of the data and information provided, as well as for keeping your data up to date.
f) Comply, in a timely manner, with the requirements made by PECUNPAY.
g) Sign the card immediately if there is a space provided for this purpose.
h) Use only secure devices to access the application. i) Ensure the confidentiality of credentials and, in particular, not to communicate or share sensitive information or authentication elements and maintain Keep your Personal Identification Number (PIN) and CVV secret, and generally protect any personalized security credentials. To this end, you agree not to share or disclose your credentials to third parties by any means and/or channel and to adopt the necessary measures to prevent unauthorized access and use. j) Ensure the secure use and disposal of the card, being solely responsible for its safekeeping.
k) Regularly review transactions and report any suspicious activity.
l) Use only secure devices to access the application. The HOLDER agrees to maintain an adequate minimum level of security by applying the security patches and updates available at all times. m) Take the necessary precautions to prevent the loss, misplacement, theft, fraudulent use, misappropriation, or forgery of the Card. In such cases, you must deactivate/block the card from the mobile application corresponding to the product and notify PECUNPAY immediately, using the telephone number listed on the Pecunpay website or by writing to atencionalcliente@pecuniacards.es.
n) Take the necessary precautions to prevent unauthorized access, loss, theft, and misuse of your account and card, credentials, and authentication elements. If any of the aforementioned circumstances occur or you suspect that any of the indicated elements have been compromised, you must replace said element(s) and immediately notify PECUNPAY by calling the telephone number listed on the Pecunpay website or by writing to atencionalcliente@pecuniacards.es. o) Treat the mobile device, tablet, or device 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 authentication elements.
p) Destroy or deliver to PECUNPAY the expired or replaced card by mail to the following address: Avda. de Bruselas No. 35, 28108, Alcobendas (Madrid). q) Liable to PECUNPAY for breach of all obligations arising from this contract for the HOLDER.
PECUNPAY reserves the right to take appropriate action in the event of non-compliance with 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 personalized authentication data (such as the Personal Identification Number -PIN-), without prejudice to the OWNER's obligation to safeguard and keep such data secret.
c) Protect the HOLDER's personal and financial data through advanced security measures.
d) Inform the HOLDER of the operation, status of the accounts, transactions made through the card by issuing statements and resolve any doubts or disputes that may arise through the channels provided for this purpose.
e) Refrain from sending unsolicited payment instruments, except in the case where a payment instrument already delivered to the HOLDER of the payment services must be replaced, upon request.
This replacement may be based on the addition of new features to the payment instrument, not expressly requested by the HOLDER. This replacement will be made free of charge to the HOLDER.
f) Ensure the availability of the application. g) Adopt reasonable measures to guarantee the integrity, confidentiality, and correct execution of payment transactions. h) Ensure that adequate and free means are available at all times to allow payment service users to communicate in the event of loss, theft, misappropriation of the payment instrument, or its unauthorized use.
i) Ensure that adequate and free means are available at all times to allow the user of paid services to request the unblocking or Replacement of the payment instrument, if the reasons for blocking its use have ceased.
j) Prevent any use of the payment instrument once the HOLDER has notified you 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 any security incidents that directly affect their data, confidentiality, or cause any type of direct harm to the HOLDER. PECUNPAY will also report such incidents to the authorities when appropriate under applicable regulations.
l) Compliance with all obligations for PECUNPAY arising from the Contract and as a regulated entity based on Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters.
PECUNPAY shall not be liable for any transactions that, even if 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 anyone other than the OWNER implies gross negligence or, where applicable, fraud on the part of the OWNER.
PECUNPAY, without prejudice to adopting the measures it deems appropriate, is exempt from liability in the event of failure to service your Card by any of the merchants, banks and savings banks involved in the sale of goods or provision of services, or due to technical or operational incidents at ATMs.
PECUNPAY will also remain unaffected by any incidents or liabilities that may arise from the transaction carried out between the establishment and the Cardholder.
PECUNPAY excludes Visa's Zero Liability Policy from its scope of application, subjecting itself to the current European regulations on the matter.
In the case of unauthorized payment transactions, the HOLDER's liability regime, regulated in Article 46 of Royal Decree-Law 19/2018, of November 23, on payment services and other urgent measures in financial matters, will apply.
Finally, PECUNPAY accounts can only be deposited in euros.
PECUNPAY will refund, at any time, exclusively at the CARDHOLDER's request, the monetary value stored in their Account. In any case, the CARDHOLDER must send a refund request to PECUNPAY along with the original card through the channels enabled for this purpose.
By default, the electronic money will be reimbursed by bank transfer to the account provided by the CARDHOLDER for this purpose. Additionally, and at the CARDHOLDER's discretion, it may be reimbursed by issuing a new electronic money card, in accordance with the fee schedule approved by PECUNPAY, in the CARDHOLDER's name. In both cases, the CARDHOLDER will assume the costs incurred as a result of the reimbursement and any accrued fees.
PECUNPAY is solely responsible for the truthfulness and accuracy of the information regarding the account statements managed by it and never for the information that any other company or third party other than PECUNPAY may provide to the HOLDER, by any means, in the event that there are discrepancies in the information requested.
At RAND, we know that you care about your personal information and want to know how we will treat it. That is why we will explain in our Privacy Policy, in a clear and transparent manner, how and when we collect, share and protect your personal information. We will also explain how to exercise your rights.
Please note that anonymized information or purely statistical data used by RAND will not be considered personal data.
RAND PROTOCOL, S.L. (formerly PASELIA INVEST, S.L.) provided with C.I.F. B-42893925 and domiciled at Avda. D’Ernest Lluch n.º 32, TCM 2, OF 19 B, 08302, Mataró, Barcelona, pursuant to the deed granted on February16, 2021, before the Notary of Barcelona, D. Salvador Farrés Reig on folio 200of volume 47,710, page number b-560.134 (hereinafter, “RAND”).
By reading and accepting this Privacy Policy, the user (the "User" or "Users") is informed of the circumstances under which their personal data will be processed.
In addition, if legal basis is needed for processing your data, your free, informed, specific and unequivocal consent will be requested for the personal data you provide via the website www.rand.network (hereinafter, the “Website”) and the RAND application (hereinafter, the “Application”) or any other forms dependent on the Website and the Application, are processed by RAND, as well as data derived from your browsing and any other data that you may provide in the future.
The data requested in the forms on the Website and in the Application are, in general, mandatory (unless otherwise specified in the required field) to fulfill the purposes for which they are being collected.
Therefore, if they are not provided or are not provided correctly, they cannot be addressed, not withstanding that you may freely view the content of the Website and the Application, except for specific content or certain functionalities of the Website and the Application, limited to registered Users.
Please read this Privacy Policy carefully before using or registering with RAND.
If you register on the Website and/or Application, we will process the following information about you:
If you do not register, and you simply browse the Website, we will process the following information about you:
We may only process your personal data if we have an adequate legal basis for doing so. We may process your personal data for any or all of the purposes specified below and on the legal bases indicated:
The personal data of RAND Users may be accessed by:
The transfer of your personal data outside the European Union is not foreseen. In any case, if such circumstances change, you will be informed through this privacy policy and transfers to third countries not considered secure will be made protecting your data through the signing of Standard Contractual Clauses approved by the European Commission between the data exporter and the data importer.
Your personal data will be kept for the time strictly necessary for the purposes of the processing for which they have been provided, and, in any case, following the principle of data minimization provided for in the applicable regulations.
If you are a RAND User, your data will be kept for the duration of your business relationship with RAND and from the moment you exercise your right to cancel your data or terminate your account, your data will be kept blocked for a period of five years in order to meet the legal responsibilities that may arise from the services provided and ten years in the case of conservation of personal data in compliance with the rules of prevention of money laundering.
You may (i) send a letter to RAND, at the address indicated in the header of this Policy, (ii) access your User area on the Application or the Website; or (iii) send an email to hello@rand.app, attaching a photocopy of your identity document, at any time and free of charge, for:
If you believe that the above rights have not been properly addressed by RAND, you may file a complaint with the Spanish Data Protection Agency at C/ Jorge Juan, 6, 28001 — Madrid.
Our Privacy Policy may be updated, due to changes and legal needs, as well as improvements and changes included in the way we offer and provide our services and application utilities. Therefore, we recommend that you visit and access our Privacy Policy periodically, in order to be able to access and learn about the latest changes that may have been incorporated.
In the event that such changes relate to the consent provided by the User, we will send you a separate and independent notice to collect it again.
If you have any questions or concerns about our Privacy Policy or would like to exercise any right or action regarding your personal data, please contact us at the following e-mail address: hello@rand.app.
Public blockchains operate as ledgers, intended to immutably record transactions in networks of computer systems. Many of these public blockchains allow forensic analysis that can lead to de-anonymization and unintentional disclosure of private financial information, especially when blockchain data is combined with other data.
Since blockchains are decentralized or third-party networks that are not controlled or operated by RAND, we cannot delete, modify or alter personal data on such networks.