Moneta International UAB, legal code: 304291086, registered address: Jogailos Str. 4, Vilnius, the Republic of Lithuania, is a payment institution authorised and supervised by the Lithuanian financial supervisory authority: the Bank of Lithuania, address: Žirmūnų g. 151, Vilnius, the Republic of Lithuania; webpage: lb.lt; telephone: +370 5 268 0502; e‑mail: [email protected]. As a proof of Payment institution’s licence, Moneta International is included in the public list of payment institutions on the following link of the Bank of Lithuania: http://www.lb.lt/list_payment_inst_1.
SCOPE OF THE TERMS & CONDITIONS
These Terms & Conditions specifies the opening and use your Moneta Account and Moneta Online System and other related payment services. Together with Moneta International Privacy and Data Protection Policy as well as agreement on provision of payment services concluded with you, they constitute the legal relationship between you and Moneta International. You are advised to print and keep a copy of these documents for future reference.
MONETA INTERNATIONAL SERVICES
Your Moneta Account is a payment account connected to your Moneta Online System which, in addition to other functionalities, enables you to use Moneta mass payment solution, execute SEPA and non-SEPA payments as well as convert currency. The Moneta Account is opened and governed in accordance with the Payment Service Directive (Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007) and national laws of the Republic of Lithuania.
The Moneta Account is a payment account and funds transferred through the Moneta Account do not remain under control of Moneta International longer than it is necessary due to operational and technical reasons to execute your transaction initiated via the Moneta Online System. Delays will be dependent only on timing (e.g. weekend processing), a lack of adequate know-your-client (KYC) documentation and technical issues. Moneta International, based on execution of payment transactions and money remittance services, offers:
sending bank transfers to other bank accounts or payment service provider’s accounts either in the form of SWIFT/SEPA transfers or local bank transfers where applicable;
receiving bank transfers to the Moneta Account from other bank’s or payment service provider’s accounts;
opening a dedicated bank account for you or using the existing Moneta International account(s) on a segregated basis, through which all outgoing and incoming transfers will take place; and
exchange of currency.
Moneta International services can be provided in EUR, GBP and/or USD. Exchange of currency services will be provided only in relation to Moneta International Services when it is necessary to change: EUR to GBP; EUR to USD; GBP to EUR; GBP to USD; USD to EUR, USD to GBP.
Services in other currencies might be available – please inquire with the Moneta International team if such need arises.
Payment accounts are not bank accounts. By accepting these Terms & Conditions you acknowledge that the Lithuanian deposit guarantee scheme does not apply to your Moneta Account. Moneta International strictly adheres to the legal requirements under the European Payment Service Directive and Lithuanian national laws which are designed to ensure the safety and liquidity of funds deposited in payment accounts.
Pursuant to the Payment Service Directive and Lithuanian national laws, your funds are protected using the account segregation method. Such method ensures that:
Moneta International ensures that your funds are kept in a separate bank account opened for the benefit of Moneta International clients and it will not be used to keep funds of Moneta International or other parties which are not considered to be the users of the payment services offered by Moneta International.
you shall hold ownership of the funds transferred to the payment institution for the provision of payment services and third parties cannot direct recovery for the debts of the payment institution to these funds;
if your funds are held by Moneta International and not delivered to the payee or transferred to another payment service provider for longer than 48 hours after the funds have been received, then you will be contacted by your Moneta Account Manager in order to determine where the funds will be transferred to.
The Moneta Account belongs to the legal entity which is registered as a user(s) and has an account to use the Moneta Online System. No person other than you has any rights in relation to the funds being transferred through the Moneta Account, except in cases of succession. You may not assign or transfer your Moneta Account to a third party or otherwise grant any third party a legal or equitable interest over it, without a prior written consent of Moneta International.
The Moneta Online System is a “business-to-business” Online platform available on www.moneta-international.com that allows you to use Moneta International services, execute transactions using your Moneta Account.
In order to use Moneta International services you must first open the Moneta Account. You may apply for an account on Moneta International website or by directly contacting Moneta International: Email: [email protected]; Skype: Monetaint; Phone: +370 611 55693; Address: Jogailos Str. 4, LT 01116 Vilnius, Lithuania;
As part of the signup process for the use of Moneta Online System, you will need to:
identify yourself under instructions of Moneta International based on applicable laws on prevention of money laundering and terrorist financing, including and not limited to filling out Moneta’s International application form and submitting it along with required documents; and
accept these Terms & Conditions and the Privacy and Data Protection Policy;
sign the agreement on provisions of payment services with Moneta International.
After fulfilment of actions listed in Section 4.2 above, Moneta International will create the Moneta Account for you as well as grant access to the Moneta Online System in order to use Moneta International services and execute payment transactions.
You will be given a unique username and password in order to access the Moneta Online System. You can have multiple usernames and passwords which could be designated to your authorised persons. An explicit approval by Moneta International is needed and a special fee applies if the Merchant requests more than 2 usernames and passwords. Passwords will be provided to you during or after signing of the agreement on provision of payment services. Moneta International will request you to change the passwords once in 180 days if you do not change the password itself during this term.
You may only open one Moneta Account unless Moneta International explicitly approves the opening of additional accounts.
You may only open the Moneta Account if it is legal to do so in your country of residence. By opening the Moneta Account you represent and warrant to Moneta International that your actions do not violate any laws, regulations applicable to you or your internal rules, corporate policies etc. You shall indemnify Moneta International against any losses Moneta International incurs in connection with your breach of this section.
All information you have provided to Moneta International during the signup process or any time thereafter must be accurate and truthful. You must ensure that the information provided to Moneta International is always accurate and up to date and inform Moneta International about any changes in the information and/or documents provided. Moneta International may ask you at any time to confirm the accuracy of your information or to provide documents or other evidences.
You should check your Moneta Account balance and transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Moneta International.
You must take all reasonable steps to keep the Moneta Account password safe at all times and never disclose it to anyone. Moneta International personnel will never ask you to provide your password to Moneta International or to a third party. You must never allow anyone to access your Moneta Online System or watch you accessing your Moneta Online System.
Execution of payment transactions is done by placing payment orders on the Moneta Online System.
Due to applicable laws on prevention of money laundering and terrorist financing, Moneta International may require you to provide Moneta International with the payee's details, contact details as well as information on relationships between you and the payee.
Moneta International in order to provide payment services may use third party intermediaries (i.e. banks and/or other payment service providers) to complete the fund transfer to the payee. When providing payment services the funds will be instantly credited to Moneta International account opened at the bank or other payment service provider. That intermediary shall then be responsible for ensuring the onward transmission of the payment to the payee based on your payment order placed on the Moneta Online System. For the avoidance of doubt, once such credit has been made by Moneta International (i.e. funds were transferred from the Moneta Account to the payee), it shall not be responsible for the onward transmission of such funds by that intermediary.
Sending payments is subject to fees and currency conversion fees depending on the type of payment you make.
It is strictly forbidden to use your Moneta Account for any illegal purposes including but not limited to fraud and money laundering. Moneta International will report any suspicious activity to the relevant competent authority.
Moneta International has a right at its sole discretion to refuse to execute any payment transaction when execution of such transaction violates or could violate the law or the activities with the Moneta Account are suspicious. In case of such circumstances, Moneta International has a respective legal duty set in the laws to inform the competent authorities hereof and will do so. Moneta International will not be liable against you or any third party for the execution of its right under this Section.
Fees will be specified in an appendix of Moneta International agreement on payment services. The fees will be actually deducted by Moneta International in accordance with the Fee payment schedule provided in appendix to the agreement on payment services.
Fees payable by you will be deducted from your Moneta Account balance and you hereby authorise us to do the same. If your Moneta Account balance is insufficient to cover the fees, Moneta International may refuse to execute the payment.
In the event you fail to make any payments due to Moneta International (i.e. fees), you shall pay interest in the amount of 0.2% per day until repayment of overdue amount.
Moneta International will apply exchange rates based on market rates quoted on the Moneta Online System, which could change in real time due to the market conditions.
The processing of the personal data is governed by Moneta International Privacy and Data Protection Policy which can be found on Moneta International website. By accepting these Terms & Conditions, you also agree to the terms of the Privacy and Data Protection Policy. You should print and keep a copy of the Privacy and Data Protection Policy together with these Terms & Conditions.
Subject to your consent, you will receive e-mail newsletters that will inform you about new product features, events, promotions, special deals etc. If you do not wish to receive any newsletters from us, you can opt out at any time by contacting Moneta International. Any e-mail newsletter you receive will also give you the option to unsubscribe from any future newsletter.
Moneta International shall not be liable for any disruption or impairment of Moneta International services or for disruptions or impairments of intermediary services on which Moneta International relies for the performance of its obligations hereunder, provided that such disruption or impairment is due to circumstances beyond Moneta International’s reasonable control or the control of the intermediary affected.
Moneta International shall not be liable against you or any third party for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. Moneta International shall not be liable against you or any third party for any losses arising from Moneta International compliance with legal and regulatory requirements.
Moneta International obligations under these Terms & Conditions are limited to providing you with a payment account and related payment services.
Moneta International shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and any third party.
You agree to defend, reimburse or compensate Moneta International and hold Moneta International and its other companies in the company group harmless from any claim, demand, expenses or costs (including legal fees, fines or penalties) that Moneta International incurs or suffers due to or arising out of your breach of these Terms & Conditions, concluded agreement on payment services, breach of any applicable law or regulation and/or use of the offered services. This provision shall survive termination of the relationship between you and Moneta International.
The Moneta Account and your Moneta Online System may be terminated immediately by Moneta International in one of the following events:
you fail to make any payment which is due in accordance with the concluded agreement on payment services;
you are in breach of any relevant statute, law, regulation or instruction of public authority;
agreement on payment services concluded between Moneta International and you becomes unlawful for Moneta International to perform for any reason;
you intend to become unable to pay your debts as they become due or have a bankruptcy petition presented against or any of the events specified above or anything analogous to them occurs under the laws of any applicable jurisdiction;
Moneta International in its sole discretion decides that you no longer meet Moneta International clients’ profile;
you breach representations and warranties provided in the concluded agreement on payment services and/or hereof;
Moneta International has reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity;
any other reason specified in the agreement on payment services concluded between Moneta International and you.
Moneta International may suspend the use of the Moneta Account and the Moneta Online System if Moneta International reasonably suspects your Moneta Account and Moneta Online System have been used or are being used without your authorisation or fraudulently.
You and Moneta International are entitled to terminate the Moneta Account and the Moneta Online System, including the concluded agreement on payment services, with a prior 30 (thirty) days written notice.
CHANGES TO THE TERMS & CONDITIONS
These Terms & Conditions and any additional terms and conditions that may apply to yours and Moneta International legal relationships are subject to change. Changes will be implemented with a prior notice from Moneta International under the procedure set forth in this section.
About any changes of the Terms & Conditions Moneta International shall inform you in a written notice no later than prior 5 (five) business days before any intended changes. Moneta International shall give notice to you of any change by sending an email to the primary email address registered with your Moneta Online System.
In case you disagree with the changes, and terminate your concluded agreement with Moneta International.
Moneta International contacts you via e-mail or mobile phone. For this purpose you must at all times maintain at least one valid email address and one mobile phone number in your profile on the Moneta Online System.
Moneta International communicates in English and Lithuanian. Also Moneta International accepts communications made only in English or Lithuanian. Documents or communications in any other languages are for convenience only and shall not constitute an obligation on Moneta International to conduct any further communication in that language.
11.3. You may contact Moneta International at any time by e-mail at [email protected], by phone number +370 611 55693, or regular mail at Jogailos Str. 4, LT-01116 Vilnius, Lithuania
These Terms & Conditions, Privacy and Data Protection Policy and the concluded agreement on payment services shall be governed by and interpreted in accordance with the laws of the Republic of Lithuania.
If any part of these Terms & Conditions is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of the Terms & Conditions, which shall continue to be valid and enforceable to the fullest extent permitted by law.
Complaints and disputes between you and Moneta International are resolved/settled in accordance with the procedures set in the agreement on payment services concluded between you and Moneta International.