As used in this Agreement, the following terms have the following meanings. The singular shall include the plural, and the plural the singular. All captions are intended solely for convenience of reference and shall in no way limit any of the provisions of these Terms.
“Account” means the e-money and/or crypto currency account associated with your e-Wallet(s) and Card(s) that is created at the time you signed up to be a Banq24 Account Holder.
“Account Holder” means the person who has an Account with Banq24.
“Account-to-Account Service” or “A2A” means the Banq24 Service that enables an Account Holder to make secure on-line payments and/or to transfer funds in their Account to another Account Holder electronically.
“ATM” means an automatic teller machine from which cash can be dispensed when you use your Card.
“Business Day(s)” means any weekday other than bank holidays in the United Kingdom.
“Card” and “Card” mean the Virtual Card and/or the Physical Card, which access your Account.
“Card Organisation” means Visa, Mastercard, Union Pay International and any other organisation so designated by us, which provides their payment products to Prime Pay Ltd for provision to its Account Holders.
“Card Organisation Rules” means all applicable rules, regulations, procedures and other requirements issued by or formed in respect of a relevant Cards Organisation, as amended, replaced or supplemented from time to time;
“Card Service” and/or “Card Services” means all of the functionality on your Card, provided to you by us.
“Chargeback” means an amount representing the value of a Transaction which the Card issuer has refused to settle to the Acquiring Partner or in respect of which the issuer seeks reimbursement in accordance with the Card Scheme Rules;
“Cooling-Off-Period” means a period of fourteen (14) days, after which you obtained your Card and/or Account in which you can cancel your Card and/or Account without incurring a penalty or a Fee.
“Currency Conversion Fee” means the Fee which is charged to an Account when funds are moved from one currency to another within their e-Wallets whether fiat currency or cryptocurrency.
“Data Controller” has the meaning given to it under the Data Protection Law;
“Data Processor” has the meaning given to it under the Data Protection Law;
“Data Protection Law” means (as amended, superseded or replaced from time to time and to the extent applicable to a Party, its business or services or obligations under this Platform Services Agreement or the subject matter in question):
(i) the Data Protection Act 1998;
(ii) any legislation or regulations which implement Directive 95/46/EC;
(iii) Privacy and Electronic Communications (EC Directive) Regulations 2003;
(iv) the GDPR; and
(v) all legally binding guidance and codes of practice issued by any regulator with jurisdiction over the data processing arrangements contemplated in this Platform Services Agreement;
“EMV and EMV CHIP” means Europay, MasterCard, and Visa, and is the global standard for inter-operation of integrated circuit cards and capable point of sale terminals and automated teller machines, for authenticating credit and debit card transactions;
“e-Wallet” and “e-Wallet Account” means the electronic purse holding e-money or cryptocurrencies for each Account Holder and may be denominated in different fiat currencies and cryptocurrencies at our sole discretion.
“Fees” means those charges that may be applied to your Account to pay Banq24 for a transaction and/or an activity on your Account, e-Wallet or Card. These Fees can be found in Section IX – “Fees and Limits” of this Agreement, or which have been otherwise disclosed to you at the time you obtained your Card, or has been disclosed to you, with two (2) month’s notice, as having been modified by Banq24.
“GDPR” means Regulation (EU) 2016/679, known as the General Data Protection Regulation;
“KeyCard” means the list of six digit authentication numbers that are referenced by a reference-number that can consist of one to three numbers followed by a “-“ and two alpha characters. This authentication number is required when you access your Account and when you access certain functions within your Account.
“Load Method” and “Loading Methods” means all of the methods that we offer to enable you to load money from your funds sources outside of Prime Pay, UAB. These may include, but are not limited to, loads of funds by Credit Card/Debit Card purchases, transfers from your bank account and wire/telegraphic transfers.
“Merchant Account” means an Account designated by us that is governed by separate agreements between us and the Merchant Account owner.
“Message Centre” means the secure mailbox in your online Account to which Banq24 will deliver confidential messages regarding your Account and your Cards.
“Personal Data” has the meaning given to it under the Data Protection Law;
“Personal Information” means, but is not limited to the following: (1) your name and address; (2) your current government issued identification document with your picture; and (3) proof of your address; (4) all information we collect from your use of the Account, together with any other additional personal information we may require from you from time to time.
“PIN” means Personal Identification Number, the four (4) digit code provided to you for use when you use your Card at an ATM and at participating merchants.
“Products” means all Banq24 tangible or intangible goods that are sold to our customers.
“Products and Services” means the Products and Services including, for the avoidance of doubt, the Account and Card Services offered to Account Holders
“Security Code” means the three (3) digit code that is provided to you in your Message Centre when you obtain a Virtual-Card, or is printed on the reverse of the Physical-Card.
“Service” and/or “Services” means all Banq24 functionality provided to you, including but not limited to the Account-to-Account Service.
“Sponsor Account” means a specific type of Merchant Account that is designated by us that is governed by separate agreements between us and the Sponsor Account owner.
“Sponsored Account” means an account purchased by a Merchant Account on behalf of a third party.
“User ID” means the letters and characters chosen by an Account Holder, or assigned by us, to identify an Account.
“Banq24” is a trading style of Prime Pay Ltd registered number 11725822, registered office 86-90 Paul street, London, EC2A 4NE
“Virtual Card” means a virtual prepaid Card, which is issued with no physical plastic card attached, for use at certain online and/or telephone/mail order merchants.
“we” and “our” and “us” means PSI and/or Prime Pay Ltd and/or Banq24, and/or our affiliates and assigns as appropriate.
“Withdrawal Method” means any of the methods offered by Prime Pay Ltd, at our sole discretion, that allows Account Holders to move funds from their Account to an external account.
“you” , “your” and yours means the person who is purchasing, accepting or using Cards.