Applicable to clients who have entered the business relationship earlier than 2023-07-24. For clients who have entered the business relationship on 2023-07-24 or later, updated additional agreement terms are applicable.
To the General Service Agreement and the Electronic Money and Payment Account Agreement
UAB „Pervesk“, legal entity code 304186270, address Gedimino av. 5-3, LT-01103 Vilnius, Lithuania, represented by director Darius Kulikauskas (hereinafter referred to as the Company),
Spectro Finance OÜ, legal entity code 14608294, address Harju County, Tallinn, Narva mnt 7b-509, 10117, Estonia, represented by director Tadas Dapšys (hereinafter referred to as the Platform Operator)
The Customer, natural or legal person, whose requisites are collected and identity verified during a remote, uninterrupted session, and whose personal details are recorded and stored by the Company using the AutoKYC tool accessible on-line,
hereinafter the Company and the Customer are jointly referred to as the Parties, while individually the Company and the Customer are referred to as the Party,
- 1. The Parties have entered into the General Service Agreement (hereinafter referred to as the General Agreement);
- 2. The Parties have entered into the Electronic Money and Payment Account Agreement (hereinafter referred to as the Account Agreement), on the basis of which the Company has opened an electronic IBAN (International Bank Account Number) account for the Customer (hereinafter referred to as the Account);
- 3. The Customer’s Account was opened, the General Agreement, and the Account Agreement were concluded using the AutoKYC tool when the Customer was referred to the Company via the Platform (hereinafter referred to as the Platform), which is accessible at spectrocoin.com and where Platform Operator provides its services;
- 4. The Customer has concluded a service agreement with the Platform Operator and within the Platform has opened a virtual wallet (hereinafter referred to as the Wallet) where the Platform Operator represents the balance of the Customer’s paid-in funds that can be utilised for purchasing the Platform operator’s services;
- 5. The Customer intends to use the Account for making payments for the services delivered by Platform Operator i.e. for automated periodical instant advance payments to the Platform Operator for the Customer’s currency or virtual currency exchange transaction and for pay-outs of the funds received from virtual currency exchange;
- 6. The Company and the Platform Operator will maintain the functionality requested by the Customer by integrating the Account into the Platform, which allows ensuring automated periodical transfer of funds to the Platform Operator and, if initiated by the Customer, pay-outs of the funds payable by the Platform Operator to the Customer;
- 7. The Platform Operator holds an electronic money account with the Company;
- 8. The Customer accepts that the Account will only be used for the purposes and within the procedure defined in this Agreement; if the Customer desires to use the Account for other purposes and within any other procedure, the Customer undertakes to apply to the Company for opening of a different account.
therefore, the Parties concluded this additional agreement along with the General Agreement and Account Agreement (hereinafter referred to as the Agreement), whereby the Parties and the Platform Operator agree on additional terms and conditions regarding the Account usage and its integration into the Platform, as well as on the changes within the General Agreement and Account Agreement.
I. GENERAL TERMS AND CONDITIONS
- The Parties thereby agree that the Account will be used as a transit account for the Customer to generate automated periodical transactions in a traditional fiat currency to or from the Wallet.
- Within the Account the Customer shall not hold and will not have a technical opportunity to hold funds. Immediately but not later that on the next business day (depending on the moment of crediting in the Account), all funds credited in the Account will automatically be transferred to the Platform Operator’s account held with the Company, except for the cases specified in clause 1.1.4. The completed transfers will be represented in the Customer’s Wallet held with the Platform Operator under the deposits.
- For the purposes of clause 1.1.1 of this Agreement, the Customer gives a multiple periodical payment order for the Company to make immediate, automated, periodical transfers of the electronic money credited to the Account (except for the cases referred to in clause 1.1.4) to the Platform operator’s account held with the Company and the Company undertakes to perform the same under the terms and conditions referred to herein. To revoke the periodical payment order, the Customer undertakes to follow the procedure for notifying the Company and the Platform operator referred to in clause 3.6.
- After completing a transfer from the Account to the Platform Operator’s account held with the Company, the Company assumes no responsibility for further dispositions of those funds. The Customer confirms its understanding that the funds transferred to the Platform Operator’s account held with the Company will be an advance payment made to the Platform Operator for the Platform Operator’s services that the Customer intends to purchase and therefore, becomes the Platform Operator’s property.
- If the Customer desires to transfer funds from the Wallet, the below procedure applies:
- After login to the Platform, the Customer confirms a withdrawal of a particular amount to the Account on the Platform by specifying the amount to be transferred.
- The Customer will be redirected from the Platform to a safe payment authorisation environment of the Company, where the Customer shall enter and with the strong customer authentication code confirm the information of an outgoing payment from the Account (beneficiary, its account and other required particulars). Due to technical functionality of the Account, there is no possibility to keep funds in the Account, therefore, the amount of the outgoing payment will always coincide with the amount initiated by the Customer and transferred to the Account by the Platform Operator.
- The Platform operator will transfer funds to the Customer’s Account immediately, if there is a sufficient balance in the Wallet, if this transfer complies with the terms of the agreement with the Platform Operator, and if no other legal circumstances for non-payment exist.
- The Company will immediately initiate the payment from the Account as per the payment order delivered by the Customer and validated by the Customer with strong customer authentication code in the Company’s authorisation environment, if there is a sufficient balance in the Account and if no other legal circumstances for non-payment exist.
- Accordingly, the Platform Operator will show the change in the Customer’s balance in the Customer’s Wallet.
- If, after making payment by the Platform Operator to the Account, the Company due to any reason is unable to further proceed with payment from the Account as per the Customer’s order, the payment from the Account and withdrawal of funds initiated on the Platform will be deemed to have failed and the amount initiated by the Customer for payment will be refunded to the Platform Operator’s account, which will be followed by a respective representation in the Customer’s Wallet, unless legal circumstances prevent this. In this case, the Customer will be deemed to have issued an irrevocable multiple periodical payment order to the Company whereby irrevocably authorises these payments from the Account to the Platform Operator’s account. To revoke the periodical payment order, the Customer undertakes to follow the procedure for notifying the Company and the Platform Operator referred to in clause 3.6.
- The Company undertakes the responsibility to perform an automatic transfer of funds from the Account to the Platform Operator's account held with the Company on the same day if the transaction is initiated not later than one (1) hour before the end of the Company’s business day.
- The Customer will not be able to operate the Account via the Company’s website (pervesk.lt, ib.pervesk.lt) due to limited functionality of the Account, and will be able to make payment orders as described in this Agreement. Due to the above reason, the Customer will not receive any means of identification. In cases referred to in this Agreement, to ensure strong customer authentication confirmation, the Customer’s telephone number disclosed to the Company when concluding this Agreement or provided by the Platform Operator to the Company and approved by the Customer will be used.
- The Platform Operator ensures that login to the Wallet must be authorized by the Customer by at least a 2-factor authentication method and failure to comply with this requirement will entail the duty to compensate all losses incurred by the Company in this respect.
- The Customer is not subjected to standard rates related to the Account usage. Account servicing and use fees are provided further in this Agreement.
- The Company assumes no responsibility for security of the access to the Platform and any operations effected therein. This is governed by the agreements between the Customer and the Platform Operator.
- The General Agreement as well as the Account Agreement are applied and interpreted in accordance with the conditions outlined in this chapter of the Agreement. In case of discrepancies between this Agreement, the General Agreement and the Account Agreement, the conditions of this Agreement shall prevail.
II. DISCLAIMER REGARDING THE SERVICE PROVIDER AND RISKS
- The Platform Operator is not a provider of electronic money and payment account services, nor is a representative of the Company and the Company acts on own behalf and for own interests. The electronic money issue, payment account and payment execution services are provided by the Company.
- By accepting and concluding this Agreement the Customer confirms its full understanding of the mechanism behind the Account’s functionality and the risks related to the activity and solvency of the Platform Operator.
- Parties according to the clause 7.8 of the General Agreement, agree upon Account operational limits:
|One operation limit, Eur||One day limit, Eur||One month limit, Eur|
- If you wish to make operation above these limits, you shall approve it via video or audio call.
|Account opening fee||0|
|Account closing fee||0|
|Monthly account support fee||0|
|Payments between the Accounts of the Company||0|
|Fee for incoming SEPA transfers||0|
|Fee for outgoing SEPA transfers||0|
|Fee for incoming SWIFT transfers (not via mano.bank)||-|
|Fee for outgoing SWIFT transfers (not via mano.bank)||-|
|Fee for incoming SWIFT transfers in EUR currency (via mano.bank)||1.00% (min. € 7)|
|Fee for outgoing SWIFT transfers in EUR currency (via mano.bank)||2.00% (min. € 18)|
|Payment refund fee||€ 20|
- For any matters not covered by this Agreement, the provisions of the General Agreement and the Account Agreement are apply, and they will be applicable to the full extent, as long as they are consistent with the conditions of the Agreement. The General Agreement and the Account Agreement make an integral part of this Agreement.
- The terms not defined or explained in this Agreement shall have the same meaning as attached to them in the General Agreement and the Account Agreement.
- The Agreement is concluded by accession, when the Customer signs it by using the AutoKYC tool. During an uninterrupted session, the Customer, after verifying his (her) identity, confirms his (her) awareness of the content of the provided documents (including all contracts and this Agreement), comprehension of them and confirms conclusion of these agreements (contracts) with the Company and the Platform Operator.
- The Company’s and the Platform Operator’s authorized persons have approved the conditions of this Agreement as standard conditions and, after it has been signed by the Customer, the Agreement is deemed to have been signed by and becomes binding to all the parties involved.
- Any amendments to this Agreement can be made when the Company and the Platform Operator confirm the amendments as standard conditions and notify the Customer about it at least 30 (thirty) days before the date of coming into effect of the amendments. Disagreement with the amendments entitle the Customer to terminate the Agreement. If prior to the date of coming into effect of the amendments the Customer fails to notify about his (her) intention to terminate the Agreement, the Customer will be deemed to have consented the amendments.
- If the Customer desires to revoke the multiple periodical payment order issued to the Company hereunder, the Customer may do this by simultaneously terminating the Agreement, the General Agreement and the Account Agreement. The Customer is entitled to do so by notifying the Company and the Platform Operator in writing and by reporting his (her) intention to revoke the periodical payment order and to terminate the Agreement (simultaneously with the General Agreement and the Account Agreement) not later than three (3) business days before the intended revocation / termination.