Terms & Conditions – Personal Account for Accounts opened from 01-07-2022

These general terms and conditions (the "Terms and Conditions") represent the user agreement ("Agreement") which is entered into by and between you (the "Account Holder") and Finance Incorporated Limited, a private limited liability company, duly registered and organised under the laws of Malta with registration number C558338, having its registered address at Capital Business Centre, Block A, Floor 2, Triq taż-Żwejt, San Ġwann, SGN 3000, Malta, being a financial institution authorised and regulated by the Malta Financial Services Authority in accordance with the Financial Institution Act 1994 (Chapter 376 of the Laws of Malta), regulating the issuing of electronic money and the provision of payment services ('iPaymix', 'Paymix' 'We', 'Us', 'Our').

This Agreement explains Our obligations to you in terms of your iPaymix Personal Account and your obligations to Us. Special and/or supplementary agreements may apply depending on the services provided to you by Us. Where special or supplementary agreements apply and there are deviations from these Terms and Conditions, the terms in the special or supplementary agreements shall prevail in relation to the specific matters that they regulate.

The following documents are incorporated into and form part of these Terms and Conditions:
1. the Registration Form;
2. these Terms and Conditions, together with any additional terms and conditions which apply in relation to any of other services IPAYMIX may provide to You;
3. any fee or tariff sheet referred to in Our Website where applicable; and
4. any Operating Instructions, information sheets or manuals relating to various aspects of the Services which are issued by IPAYMIX from to time to time.

At Registration, We consider that these Terms and Conditions are read, understood and accepted by you when you click 'I Accept' and that you understand and agree that this Agreement has been concluded electronically, which shall be further affirmed by your use of the Service. By clicking 'I Accept' to these Terms and Conditions, you are also agreeing to the Fee or Tariff Sheet referred to on Our Website (https://www.ipaymix.com/fees.php).

Amendments
We reserve the right to suspend, cancel, add, modify or delete any term and condition in connection with your iPaymix Personal Account and to amend its fees or tariff sheet. We will provide you with sixty (60) days' written notice before implementing the amendment to any term and condition. You reserve the right to cancel your iPaymix Personal Account and immediately terminate the Agreement without incurring any fees for doing so provided that you notify Us in writing or by contacting Our customer services within the said sixty (60) days. If you do not accept the change, the provisions of Clauses 13 and 16 below will apply. If you do not notify Us within the said sixty (60) days, then you will be deemed to have accepted the amendments to these Terms and Conditions and these will take effect.

Interest
You acknowledge that no interest shall accrue in favour of your monies that are held on your iPaymix Personal Account.

Security
You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access your iPaymix Personal Account and the Services.

Information Details
You are responsible for keeping your mailing address, email address and other contact information up-to-date in your iPaymix Account profile.

1. Definitions and Interpretation
The following terms shall (unless the context otherwise requires) have the meanings ascribed below:
"Agreement": means this User Agreement entered into between Us and you incorporating these Terms and Conditions and any terms and conditions applying to any of the Services, as applicable;
"BIC": means a Bank Identifier Code;
"EEA": means the European Economic Area;
"eWallet Account": means an account for holding electronic money issued by Finance Incorporated Limited as a financial institution in terms of the Financial Institutions Act licenced by the Malta Financial Services Authority to issue electronic money;
"Group Company": means in respect of a party, any undertaking which, directly or indirectly controls or is controlled by such party or an undertaking which, directly or indirectly, controls or is controlled by any aforementioned undertaking;
"IBAN": means an International Bank Account Number;
"Instruction": means any instruction given to IPAYMIX by You, as referred to in Clause 6 and throughout these Terms and Conditions;
"iPaymix": means a brand name for products and services offered by Finance Incorporated Limited;
"iPaymix Account": means an eWallet Account opened in your name as an individual customer/natural person, with iPaymix, whether a personal account or a business account;
"iPaymix Personal Account": means your eWallet Account, which shall be a personal account opened in your name, with iPaymix, provided to you as an individual customer/natural person, and which is operated in accordance with these Terms and Conditions and any special or supplementary agreement as applicable;
"Operative Date": means the date upon which Your Personal Account is opened;
"Online Portal": means the online management system made available by Us on Our Website and/or the iPaymix Application, accessible by you as the Account Holder and which enables you to manage the information and functionality relating to your iPaymix Accounts;
"Operating Instructions": means any operating instructions as communicated to you by Us from time to time, setting out the procedures, information and instructions which You must follow in connection with the Services;
"Paymix": means a trade name of Finance Incorporated Limited
"Paymix Account": means an eWallet Account provided to any person, (natural or legal), or entity by Finance Incorporated Limited;
"PEP (Politically Exposed Person)": means all persons who fulfil a prominent public function. For the purposes of the definition of 'political exposed persons':
"PEP (Politically Exposed Person)": means all persons who fulfil a prominent public function. For the purposes of the definition of 'political exposed persons'.

The term 'have been entrusted with prominent public functions' shall include the following: Heads of State, Heads of Government, Ministers and Deputy and Assistant Ministers and Parliamentary Secretaries, Members of Parliament;
Members of the Courts or of other high-level judicial bodies whose decision are not subject to further appeal, except in exceptional circumstances; Members of courts of auditors, Audit Committees or of the boards of central banks; Ambassadors, charges d'affaires and other high ranking officers in the armed forces; Members of the administrative, management or boards of State-owned corporations.
The term 'immediate family members' shall include the spouse, or any partner recognized by national law as equivalent to the spouse; the children and their spouses or partners; and the parents.
The term 'persons known to be close associates' shall include the following:
- A natural person known to have joint beneficial ownership of a body corporate or any other form of legal arrangement, or any other close business relations with that politically exposed person;
- A natural person who has sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of that politically exposed person.

"Person" means any individual and/or natural personal;
"Registration": means Your registration to Us for the provision of any of the Services (and "Registration Form" shall be construed accordingly);
"Regulation": means all laws, acts, regulations, orders and directives and all codes of practice and guidance issued by government agencies, self-regulatory bodies and trade associations (whether or not having the force of law) applicable to the conduct of Our business or in connection with their rights and obligations under these Terms and Conditions;
"Rules": means the applicable rules, regulations and operating guidelines relating to your iPaymix Personal Account;
"Service": means your iPaymix Personal Account related and/or any other service that we may provide to you as covered by these Terms and Conditions as set out in Clause 4;
"Transaction: means a payment transaction issued by a payee or payer to place, transfer or withdraw funds;
"Website": means Our Website being the website of iPaymix and which is available at: https://ipaymix.com;
"Working Day": means Monday to Friday, excluding Bank Holidays in Malta; and
"You": means the natural person which has applied for the Services and been accepted by Us as a customer.
In this Agreement (unless the context otherwise requires):

the words "including" and "include" and words of similar effect shall not limit the general effect of the words which precede them;
references to the Agreement, Terms and Conditions and any other agreement, contract or document (including the Rules) shall be construed as a reference to it or them as varied, supplemented or novated from time to time;
words importing the singular shall include the plural and vice versa;
words importing any gender shall include a reference to each other gender; and
references to a numbered clause or paragraph are to a clause of these Terms and Conditions or paragraph of the schedule so numbered.

The headings in this Agreement are for convenience only and shall not affect their construction or interpretation.

2. Our Obligations 1. Notwithstanding any Registration Form submission, We shall not be obliged to provide any Service to you unless and until We notify You that We have accepted your Registration and your iPaymix Personal Account been activated as a result.
2. The Services shall be provided in return for the fees and upon and subject to the provisions of these Terms and Conditions.
3. The Services shall be provided with reasonable care and skill and in accordance with all applicable laws and regulations (including the Rules and the Operating Instructions).
4. We will use all reasonable endeavours to correct any reported technical faults in the Service as soon as reasonably practicable. However, We do not give any guarantees as to performance of the Service, or any undertakings that the Service will be individually or collectively continuously available or free of faults, as in some cases, the Service includes participation of third parties, such as card schemes, card issuers, which are not under Our control.
5. A copy of these Terms and Conditions (as may be amended from time to time) is available at all times from Our Website: 'ipaymix.com'. We do not provide Terms and Conditions in paper form except where you request for a copy of these Terms and Conditions to be mailed to you.

3. Term and Withdrawal
1. You acknowledge and accept that your iPaymix Personal Account shall continue unless your iPaymix Personal Account is closed in accordance with these Terms and Conditions and more specifically in terms of Clause 16.
2. The distance selling regulations (the "Distance Selling Regulations") apply to you in respect of your iPaymix Personal Account if you are dealing with us at a distance e.g. over the internet or by email. The information provided to you is in terms of the Distance Selling (Retail Financial Services) Regulations (Subsidiary Legislation 330.07). The Distance Selling Regulations are only applicable to consumers being customers who are individuals and in respect of whom the Services to you for a personal nature (i.e. not business nature). In terms of the Distance Selling Regulations, you may cancel your agreement with us within fourteen (14) days from the date from which you are bound by the Terms and Conditions and by giving Us written notice (sent by electronic mail) of your wish to cancel the Agreement. In the absence of notification, We will assume that you agree to continue to be bound by these Terms and Conditions. If you do not withdraw from the Terms and Conditions within the above-mentioned period, then you may only terminate the Agreement in terms of these Terms and Conditions.

4. Services
1. This Agreement contains the terms and conditions for the provision of the payment Services by Services by Us to you, as described herein. The following Services may be provided to you:

Provision of an eWallet Account, being the iPaymix Personal Account, to be used by you for purposes of a personal nature;
Loading of funds into Your eWallet Account by using one of the payment methods available including transfers from other Paymix eWallet accounts, through bank transfers, payment services provided by third party financial institutions, credit/debit cards;
Execution of payments including to third party financial institutions;
Redeeming all or part of any electronic money held in the eWallet Account at any time in accordance with the relevant options available and following the instructions; and
Any other services connected to your iPaymix Personal Account which may be requested by you and agreed to by Usfrom time to time.

2. The funds loaded into your iPaymix Personal Account shall in no circumstance gain any interest, and You shall not be awarded any benefits whatsoever in respect of the duration of time that the electronic money is held in your iPaymix Personal Account. 3. Your iPaymix Personal Account may be topped-up with additional funds throughout the duration of this Agreement. The account balance must be in credit in your favour and for this reason, We may reject or delay any payment Instruction from you or withdrawal by you, if there is insufficient balance to allow it.
4. Your claim to Us for the balance of electronic money is only equal to the amount of electronic money in the respective currency, which we have issued and is subject to this Agreement.
5. You agree and acknowledge that the reporting and payment of any applicable taxes or levies arising as a result of the use of the Services and which by law are your obligations, shall be your exclusive responsibility and liability. You hereby agree to comply with any and all applicable tax laws.
6. Important Note: Before the application for iPaymix Personal Account passes through all applicable due diligence measures and Our approval, you shall not be provided with any electronic money or payment services or other similar financial services.

5. Opening and Use of Your iPaymix Personal Account
1. You understand that your iPaymix Personal Account may be used for different reasons of a personal nature. We understand that your iPaymix Personal Account may be used to transfer money between friends and family members or to make or receive payments from third parties in for your personal purpose.
2. Every Registration is considered individually and the provision of this Agreement does not guarantee or imply acceptance by Us of any Registration. We reserve the right to reject a registration should We consider it to be appropriate to do so.
3. The iPaymix Personal Account is a personal account for your personal use to be subject to these Terms and Conditions and is distinct from an iPaymix Sole Trader Account, for which different terms and conditions apply.
4. You attest and confirm that you are 18 years old or older, that you are resident in the EU/EEA, that you are not the subject of any sanctions administered or enforced by any sanctions authority and you are opening and using your iPaymix Personal Account for personal, family or household purposes.
5. Upon Registration for the Services and during this Agreement, you must provide current, complete and accurate information, as requested by Us and maintain it as current and accurate during use of the Services. In case of any changes in information provided by you, you agree to update the information in your profile, to notify Us via e-mail or to contact Us in any other way without delay.
6. You can choose between two options:

Low Threshold Account: – This is an account which has a maximum annual limit of EUR 2,000 and a transactions treshhold of EUR 100 per transaction. You will be asked to provide an identification document and your account will be sent for approval which is done within 24 hours. You can always request to be upgraded to the Upgraded Account. However, further due diligence will be requested from our part;
Upgraded Account: – This is an account which has a maximum annual limit of EUR 50,000 without any transaction limits. Full due diligence will be requested. You will be asked to upload an identification document, proof of address and a tax number which needs to be substantiated by an official document confirming the tax number.

7. Identity Verification: On Registration, depending on your choice of iPaymix Personal Account, You will be asked for your identity and other personal details. We are legally obliged to identify and verify your identity as Our client identity in compliance with the applicable AML/FT laws, our Internal AML/FT rules and procedures and the applicable card scheme rules (where relevant). Such measures may include video identification and verification and/or verification selfie, software tools, documentation and information checks in official database and independent sources provided by international organizations, requesting additional information or similar. We have established special verification systems involving your bank account or payment card to prove your identity. If We are unable to verify identity through an electronic search, or would require further documentation according to individual circumstances, We will contact you and ask you to provide such documents and you agree to provide such documents. Depending on your user status, you may also find that you are asked to confirm your identity and provide additional personal details and supporting documentation during the Registration process. Therefore, on Registration, you may be asked for your identity and other personal details and supporting documentation. Furthermore you are also obliged to provide your tax identification number as well as proof of that tax identification number, by means of an official document. While our identity verification procedures are designed to minimise any inconvenience for you, the verification process may take several days to complete depending on the timely receipt of the original documentation requested by Us.
8. Politically Exposed Persons ("PEP"): At Registration, you warrant that You are not a PEP or an immediate family member or a close associate of a PEP and You shall immediately inform Us as soon as You become a PEP or an immediate family member or a close associate of a PEP. This declaration is applicable to both local and foreign PEPs. Failure to disclose such information may lead to the closure of the account.
9. Additional Information: On an on-going basis, We are required by the Prevention of Money Laundering and Funding of Terrorism Act and regulations, rules and directives issued thereunder ("PMLFTA"), to maintain up to date identification for all Our customers. This helps to protect Our customers and members of the public against fraud, combat Money Laundering and Funding of Terrorism and prevent misuse of Our systems. This means that We may require additional information from time to time, even for customers who currently receive or have previously received services from Us and You will, upon request, provide such additional information.
The PMLFTA requires that We:

Verify your identity and address;
Keep full records of all transactions together with identification provided;
Monitor any unusual or suspicious transactions of any size;
Report to the Financial Intelligence Analysis Unit (FIAU) any suspicious transaction

10. Where you are successfully Registered and on-boarded by Us, your iPaymix Personal Account shall be activated, after which you shall be able to start using the Services, for which you shall be notified accordingly. Nevertheless, We also have an obligation to maintain up to date identification for all Our customers. This means that We may require additional information from time to time, even for customers who currently receive or have previously received services from Us and you agree that, upon request, you will provide such additional information without undue delay, as we may require in this regard.
11. Occasionally We may:

for operational reasons, update the technical specification of the Service(s) and/or update any manuals or documents related to the Service(s); or
require you to follow instructions which We believe are necessary for reasons of security or quality; or
for operational or commercial reasons, make changes in the information provided for you, to which you agree by entering into this Agreement or using the Service(s).

12. For regulatory, risk and security reasons, We may impose or change the limits unilaterally and without your consent, for which We shall inform you via Our notification methods, unless we are not permitted by law to notify you in certain cases. We are entitled at our sole discretion to decide whether or not to change the limits following your request and we shall not be held liable by you in case of decline of such request.
13. You agree that We may set-off any of the amounts held in in your iPaymix Personal Account with any fees, charges or other amounts you owe to Us. Our right to set-off means that We may deduct such fees, charges or other amounts due by you under this Agreement or the other legal agreements with Us from any of the account balances held or controlled by you with Us. If such set-off includes a currency conversion we will convert the amount that you owe according to our currency exchange rate for the date of the operation.
14. To secure your performance of this Agreement, you grant to Us a legal claim (i.e. a security interest) against the funds in your iPaymix Personal Account as security for any amount you may owe to us under this Agreement or any other agreement that you may have with Us.
15. In terms of applicable Maltese law and unless otherwise agreed between us in writing, We may exercise a right of retention over part or all of the funds held in your iPaymix Personal Account with Us until all outstanding fees, costs, charges, expenses and liabilities due to us have been paid in full.
16. We may suspend the Service(s) for operational reasons such as maintenance by us or other third parties, or because of an emergency or reasons related to fraud, risk or compliance. We will restore the suspended Service(s) as soon as reasonably practicable. You are responsible for taking backups of your data prior to any suspension or maintenance work and for restoring any such data lost as a result of such suspension or maintenance work. We shall not be liable for any direct or indirect loss or damage suffered by you or any other third party arising from the suspension of the Service(s).

6. Payment Instructions
1. All Instructions given by you shall be logged through Our Online Portal (via Our web-based customer portal or via the iPaymix Mobile Application). Such Instructions will be actioned in accordance with the time periods set out herein and as soon as reasonably possible after the Instruction is received.
2. Transactions are regarded as authorised by you where you confirm the execution of a Transaction on your iPaymix Personal Account through the Online Portal (via Our web-based customer portal or via the iPaymix Mobile Application) (refer to Clause 20). You need to follow the authorisation instructions provided to you and applicable security measures.
3. Where We reasonably believe that an Instruction purporting to come from You has not been properly authorised by You or that any other breach of security has occurred in relation to Your Use of the Services, We reserve the right not to act, or to delay acting upon the Instruction and, in that event, We will inform You as soon as reasonably practicable. We will not have any liability to you if you suffer loss because of Our decision not to act or to delay in acting on an Instruction in these circumstances.
4. We may also refuse, in Our absolute discretion and without incurring any liability, to execute any payment Transaction, if we have reasonable grounds to suspect fraud, a breach of this Agreement (or any other agreement with Us in connection with the provision of the Services, or a breach of applicable laws by you or a third party. Execution of payment Transactions may also be delayed or declined by Us due to compliance with Our obligations under applicable legislation, including if there exists a garnishee order or other Court order in relation to your funds, if We suspect that the Transaction involves fraud and/or illegal and/or non-acceptable activities and/or there exists reasonable suspicions about the source or use of funds in terms of the PMLFTA and/or there exists other similar and comparable circumstances. In the event that We refuse to execute or to delay the execution of a Transaction, you will be notified at the earliest opportunity, unless it is unlawful for us to do so or would compromise reasonable security measures.
5. You shall ensure that all Instructions sent to Us are complete and accurate. We will not be liable for any damages or loss if an Instruction is not actioned or is actioned incorrectly due to inaccurate or incomplete Instructions or if an Instruction is not received by Us.
6. You may request Us to cancel or modify any Instruction but We are only required to use reasonable efforts to comply with such request. We will not be liable for any failure to cancel or modify such an Instruction.
7. To safeguard the integrity of our payment system, your iPaymix Personal Account may also be subject to periodic transaction limits. Therefore, We may refuse, at Our discretion and without liability, to act or delay acting on your Instruction if it is a request or Instruction, the effect of which would be to exceed a general limit imposed by Us in relation to your iPaymix Personal Account.
8. You shall ensure that the funds in your iPaymix Personal Account are sufficient to cover the payment you intend to make as well as any applicable fees due or which shall become due to Us and any liability for which you are responsible in connection with the Services. We shall refuse an informal overdraft request that would cause your iPaymix Personal Account to be overdrawn and We shall not be obliged to process or execute any Transaction, without incurring any liability, if there are insufficient funds in the iPaymix Personal Account to cover the sum of the Instruction plus related costs and expenses.
9. You shall indemnify and keep Us indemnified against all actions, proceedings, costs, loss or damage of any kind, that We and/or Our subsidiaries and associate undertakings (if any) may suffer as a result of acting on your Instructions in relation to the Services or as a result of your failure to comply with your obligations under this Agreement.

7. Payments to Your Personal Account 1. Depending on Your verification status, the following loading channels are available for payment to your iPaymix Personal Account:

Bank transfers from other bank accounts held with other credit institutions in your name or in the name of a third party depending on your level of due diligence, for which you must provide Your credit institution with IPAYMIX BIC & IBAN and your iPaymix Personal Account number as reference;
Credit/Debit cards issued in your name by other credit institutions/issuers;
Transfers from other iPaymix E-wallet accounts; and
Other payment methods as may be available in your country of residence.

2. Where the loading channels are payment services provided by third party financial institutions, we do not guarantee the use of any particular loading channel made available, and may make changes to or discontinue the acceptance of any particular loading channel at any time by giving you notice in accordance with Clause 13.
3. If you choose a loading channel that may be subject to chargeback rights such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such chargeback right other than for a breach by Us of this Agreement which would result in you having a right to a refund of the loaded / reloaded amount. Otherwise, you may not charge back any loading transaction or allow a chargeback of any such transaction for reasons for which We are not responsible. We reserve the right to charge you a chargeback fee and the expenses We incur in connection with such chargeback and any action undertaken to challenge the same.
4. If a chargeback or reversal of a loading Transaction results in a negative balance on your iPaymix Personal Account, You will be required to repay such negative balance by reloading sufficient funds into your iPaymix Personal Account. Failure to do so is a breach of this Agreement. Repayment of the negative balance is due immediately without notice. During such period when the iPaymix Personal Account is in negative balance and until you make the required repayment to your iPaymix Personal Account, We reserve the right to block your iPaymix Accounts and require repayment from you. To the extent that you do not reimburse Us within two (2) Working Days following notification by Us, We reserve the right to charge you a negative balance fee. We also reserve the right, at any time, to send you reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or legal counsel or to pursue the claim in court. We reserve the right to charge you the expenses that We reasonably incur in connection with any debt collection or enforcement efforts.
5. You must not load your iPaymix Personal Account through a credit/debit card issued by other credit institutions/issuers, if you are not the named holder of that card. We take any violation of this requirement very seriously and will treat any attempt to use a payment instrument of which you are not the named holder as a fraudulent act.
6. You should be aware that loadings may be subject to loading limits due to security and legal requirements. These limits are set dynamically depending on your verification status and the respective products you have applied for.
7. Payments received through bank transfers will be credited to your iPaymix Personal Account on the following Working Day after funds are received by Us.
8. Loading through credit/debit cards issued in your name by other credit institutions/issuers will be credited to your iPaymix Personal Account once the transaction is authorised by Your credit institution/issuer.
9. Transfers from other Paymix eWallet Accounts will be credited to your iPaymix Personal Account on the same Working Day.
10. Upon Your request, if some or all of the settlement funds are to be converted into EURO, We shall use an exchange rate based upon prevailing references rates. The exchange rate used by Us shall be made available by Us to you upon request. You acknowledge that the exchange rate will fluctuate, and you shall in no case hold Us liable for any fluctuations in the exchange rate used by Us.
11. If a payment is (i) fraudulently or mistakenly paid into your iPaymix Personal Account or (ii) refused by any competent authorities or if We are obliged to return a payment to the payer for any reason after it has been credited to your iPaymix Personal Account, you agree that the amount of the payment may subsequently be deducted by Us. This may occur even if (i) the funds are included in iPaymix Personal Account balance; (ii) you have used the funds to make a payment; or (iii) you have transferred or withdrawn all or part of them. If the deduction of the payment from your iPaymix Personal Account would make your Account go overdrawn, you acknowledge that the amount by which your Account is in debit, shall constitute a debt owing by you to Us. Following notification by Us that you have a debit balance on your iPaymix Personal Account, you shall promptly reimburse such sum to Us and in any event within two (2) Working Days of notification by Us. To the extent that you do not reimburse Us within two (2) Working Days following notification by Us, We reserve the right to charge you a negative balance fee. We also reserve the right, at any time, to send you reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or legal counsel or to pursue the claim in court. We reserve the right to charge you the expenses that We reasonably incur in connection with any debt collection or enforcement efforts.
12. You should be aware that payment paid into your iPaymix Personal Account can be reversed. We shall have the right to reverse a payment in cases where the payer or the payer's bank has charged back or otherwise reversed (or is reasonable likely to charge back or otherwise reverse) a loaded or other payment which was used to fund the payment to you. We reserve the right to charge you fees and expenses We incur in connection with such chargeback and any action undertaken to challenge the same.

8. Payments from Your iPaymix Personal Account
1. Payments from your iPaymix Personal Account can be made to a third party recipient through SEPA Credit Transfers and Electronic Fund Transfer or other methods notified to you from time to time.
2. We will process and be responsible for processing payments from you iPaymix Personal Account solely on the basis of the BIC, sort code or national bank code of the recipient's bank and the recipient's bank account number (or IBAN) included in the payment Instructions We receive from you, regardless of any additional information provided to Us.
3. If incorrect payment details have been provided, the payment may be delayed or credited to a wrong account and We will not be liable for any loss incurred by anyone and/or for any delay to the payment being made. In addition, We reserve the right to charge you with a cancellations/repair fee plus a recharge of other third party banks.
4. Provided that We have received your payment Instructions on a Working Day, your Instructions will be processed by Us as follows for purposes of calculating the maximum period in which the execution of the payment is to be made:
  SEPA Credit Transfers
    (i) on the same day – for payments received on a Working Day by 16.00 CET; or
    (ii) on the following Working Day – for payments received after 16.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
  Non-SEPA Transfers
    (i) on the same day – for payments received on a Working Day by 13.00 CET; or
    (ii) on the following Working Day – for payments received after 13.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
SEPA credit transfers will be executed as a "Shared" ("SHA") payment instruction whereby you will bear charges applied by Us and the beneficiary bears charges applied by the beneficiary's payment service provider.
For Non-SEPA transfers, you must indicate the person bearing the charges applied by other payment service providers. If you indicate "SHA", You will bear charges applied by Us and the beneficiary bears charges applied by the beneficiary's payment service provider. On the other hand if you indicate "Borne by ordering customer" ("OUR"), you will bear charges applied by Us and by the other payment service provider. The respective charges by the other payment service provider will be debited to your iPaymix Personal Account once communicated to Us by the other payment service provider.
5. We will give you prior notice of any National and/or Public Holidays in Malta during a particular calendar month.
6. Outward payments will be reflected in your iPaymix Personal Account on the next working day. Nevertheless, your iPaymix Personal Account available balance would be deducted with the payment amount.
7. Payments may be subject to payment limits due to security and legal requirements. You should ensure that your limits are sufficient to cover the payment you intend to make as well as any applicable fees.
8. Our fees for Transactions are set out on Our Website in accordance with Clause 12 of these Terms and Conditions and can also be found at the login page of Our Online Portal.
9. If the recipient account is in a different currency to your iPaymix Personal Account, upon your request We may undertake to convert the amount to be remitted into the appropriate currency prior to sending the money to the recipient's account. In this event, the exchange rate used by Us shall be made available by Us to you upon request. You acknowledge that the exchange rate will fluctuate and you shall in no case hold Us liable for any fluctuation in the exchange rate used by Us.
10. When executing transfers from your iPaymix Personal Account to another Account held with Us, you should be aware that the recipient of a payment may also be subject to loading, spending and withdrawal limits and that this may affect the recipient's access to the funds you intend to send.
11. Transfers from your iPaymix Personal Account to another Account held with Us will be processed on the same day.
12. If you initiate a payment Transition as Payer, We will provide you, upon your request for this specific payment Transaction prior to its execution, with information on: (a) the maximum execution time; (b) the charges payable by You; and (c) where applicable, a breakdown of the amounts of any charge.
13. You acknowledge that the validity of a reversal will be determined by a third-party payment service provider and We shall have no discretion on the matter. We are not liable to you in respect of any reimbursement to the original remitter of funds to your iPaymix Personal Account, their payment service provider or other third party because of a reversal or claim.

9. Liability and Indemnity
1. Except to the extent that loss or damage is caused directly by Our gross negligence or wilful misconduct, and as otherwise set out in this Clause 9, We shall not be liable to you for any loss or damage which you may suffer as a result of your use of the Services.
2. We will not be liable to you or to any third party for:

any loss or damages incurred by you due to the reasons specified in these Terms and Conditions; and/or
any loss or damages incurred by you due to incorrect information communicated by you to Us; and/or
any loss suffered if you give Us an Instruction which is incorrect, incomplete or inaccurate, including but not limited to incorrect payment details; and/or
any loss of: information or data, profit, goodwill, sales or business, agreements or contracts, anticipated savings, use or corruption of software, nor for any indirect or consequential loss or damage in each case whether reasonably foreseeable or not and even if We have been advised of the likelihood of such loss or damage; and/or
any loss incurred by you if We are prevented from or delayed in providing you with the Services due to Us complying with Our other obligations under applicable law regulations, rules and directives regulation or due to abnormal or unforeseeable circumstances beyond Our reasonable control (which may include but is not limited to the action of any government or government agency, strikes or other industrial action not involving Our staff, failure of third party equipment, interruption to third party power supplies and/or disruption to the international banking systems to and/or through which payments are sent); and/or
any loss incurred by you due to any fluctuation in exchange rates (as applicable); and/or
any losses incurred by you resulting from third party services outside Our reasonable control (including, but not limited to, telephone and browser services or any act or failure to act by any other financial institution or third party), whether such services are used by you to access the Services or used by Us in order to provide the Services or to comply with your Instructions. We shall not be liable for errors, delays or failures in the transmission or receipt of Instructions.

Nothing in this Agreement limits any liability which cannot legally be limited including but not limited to liability for: death or personal injury caused by negligence; and fraud or fraudulent misrepresentation.
3. You are responsible for the security of any information which you communicate to Us in the course of using the Services.
4. You are liable for any telephone or other communication charges and any charges made by your internet service provider or any third party as a result of its use of the Services.
5. You shall be liable to Us, without limitation or exclusion, for any loss suffered by Us as a result of your breach of this Agreement whether through your negligence, wilful misconduct or gross negligence.
6. We will be responsible for losses resulting directly from payments which you tell Us that you have not authorised unless you have acted fraudulently or you have allowed an unauthorised person to give payment instructions or you have not immediately notified Us and/or changed your password when you become aware of any breach of security relating to your iPaymix Personal Account.
7. For the avoidance of doubt, you are liable without any limit for all losses relating to the Services where you have acted fraudulently or failed to comply with this Agreement whether as a result of negligence, wilful misconduct or gross negligence.
8. We shall not be liable for any losses or damages or other detriment potentially incurred by you for any of the following reasons:

defects or shortcomings in software, hardware, or your systems or those of third parties used by you to communicate with Us and to access the Services; and/or
the failure, interruption or unavailability of any channel of communication between you and Us; and/or
unauthorised access, misuse, loss or manipulation of data during data transfers or other communication on your part; and/or
malfunctions causes by viruses on your systems; and/or
unauthorised third-party tampering with the software or hardware of your systems or with the transfer of data or other communication between you and Us; and/or
erroneously entered access passwords or other security details, or their misuse by third parties; and/or
the non-acceptance or non=execution of a payment Transaction or other Instruction from you for reasons specified in these Terms and Conditions and any special or supplementary agreement between us; and/or
the inability to execute a Transaction or other Instruction from you for reasons beyond Our control.

9. We may at Our discretion block the possibility for specific types of payment Transactions in order to comply with risk and compliance requirements. We may also, at Our reasonable discretion and without liability or any compensation for damages, impose limits on the amount of money that you can withdraw, transfer, receive or funds for a period of time or for the whole period of use of the Services.
10. When you receive a payment, you shall be liable to Us for the full amount of the received payment or incoming transfer plus any fees, if the payment or transfer is later invalidated for any reason, including a reversal by a payment scheme. In addition to any other liability, if there is a reversal or if you lose a chargeback or a claim, you will owe Us an amount equal to such reversal, chargeback or claim and any applicable fees and/or charges related to such reversal, chargeback or claim. You acknowledge that We shall have the right to debit your accounts with Us to recover any amounts and fees, due by you in relation to the reversal, chargeback or claim, immediately and without prior notice.
11. You shall notify Us immediately and by no later than thirteen (13) months from the debit date of an unauthorised or incorrectly executed Transaction. Upon becoming aware of any such unauthorised or incorrectly executed Transaction, you are required to notify us without undue delay, usually considered as being within one (1) Working Day. Upon Our request, you shall also provide Us with any evidence and information to prove that the payment Transaction was unauthorized. Any claim for refund, subject to the circumstances outlined above, made after this timeframe will not be considered.
12. When performing Our obligations to you, We shall exercise reasonable diligence and care in accordance with prevailing industry practices in Malta. However, We, (including Our directors, officers, employees, agents or contractors), shall be liable for any damages or loss you suffer in connection with the Services provided, unless such damages or loss arise from Our gross negligence, wilful misconduct or fraud.
13. We, (including Our directors, officers, employees, agents or contractors) shall not be liable for any damages or loss you suffer which may arise directly or indirectly from any act or omission of any other person. In particular, and without prejudice to the generality of the foregoing, We shall not be held liable for any loss or damage which arises from the closing or refusing to open an iPaymix Account or for the termination of or refusal to provide any Service.
14. We will not be liable to you in any circumstances for: (a) loss of business, loss of goodwill, loss of opportunity, loss of profit, loss of revenue, or loss of anticipated savings; or (b) any type of special, consequential or indirect loss or damage whatsoever.
15. We, (including Our directors, officers, employees, agents or contractors) shall not be held responsible or liable for any failure or delay in the performance of Our obligations hereunder arising out of, or caused directly or indirectly by, circumstances beyond Our reasonable control including acts of God, earthquakes, fires, floods, wars, civil or military unrest, sabotage, epidemics, riots, interruptions, loss or malfunctions of utilities, computers (hardware or software) or communication services, accidents, labour disputes, acts of civil or military authority or any government interventions and any other causes beyond Our reasonable control and any instance of force majeure. However, We shall make every reasonable effort to resume operations as soon as practicably possible.
16. We shall be under no liability whatsoever in respect of any information which We may give you or any views which we may express to you, irrespective of whether the said information or views are expressed at your request or not, except where such information is given in a fraudulent or grossly negligent manner. Information we may pass on to you is general advice only and does not constitute any recommendation or personal advice as this does not take account of your objectives, financial situation or needs. You should consider obtaining personalised advice from a certified tax adviser, financial adviser and your accountant before making any financial decisions.
17. Except where Our gross negligence, fraud or wilful default has caused the relevant loss or breach, We shall not be liable to you for:

any unavailability of any facilities or Services provided by Us;
unauthorised use by any third parties of any forms, data carriers or means of communication;
misrepresented or omitted information or mistakes in data transfers.

18.You shall indemnify and keep Us indemnified against all actions, proceedings, costs, loss or damage of any kind, which We and any of Our subsidiaries and associate undertakings (if any), may suffer as a result of acting on Your instructions in relation to the Services or as a result of your failure to comply with your obligations under these Term and Conditions and any special or supplementary agreement entered into with Us. You shall also indemnify and keep us indemnified for all costs, fees and expenses of legal assistance which We may incur in connection with the preparation of any agreements between us. Any costs for enforcement of judgments against you shall also be borne by you. Any costs, fees and expenses which We may have to incur in or out of Court, or before a decision-making panel on account of any and all disputes between us shall also be for your account and you shall counter-indemnify Us on demand in respect thereof.
19. Without prejudice to the above provisions, all other costs which our relationship may give rise to, shall be for your iPaymix Personal Account. You shall indemnify us on demand against all losses, actions, claims, expenses, demands and liabilities of whatever nature, made or incurred against or by Us, for anything done or omitted in the exercise or purported exercise of any Our rights or powers, arising under or pursuant to these Terms and Conditions and/or any special or supplementary agreement or security entered into between you and Us, and not already otherwise covered by an undertaking under these Terms and Conditions, unless this is a result of Our fraud, gross negligence or wilful misconduct.

10. Safeguarding of Assets
1. In accordance with Article 10B of the Financial Institutions Act, We shall safeguard all funds received from payment services users or in exchange for electronic money that has been issued. Such funds held by Us shall be deposited in a separate bank account in a credit institution domiciled in a reputable jurisdiction. 2. You acknowledge that the Maltese Deposit Guarantee Scheme does not cover electronic money issued by Us or claims made in connection with the issuing of electronic money.

11. Force Majeure
1. We shall not be responsible or liable for any losses arising out of any delay in or interruption of the performance of its obligations under this Agreement due to any act of God, act of governmental authority, act of the public enemy or due to war or terrorism, the outbreak or escalation of hostilities, riot, civil commotion, insurrection, labour difficulty in relation to a third party (including, without limitation, any strike, or other work stoppage or slow down), severe or adverse weather conditions, communications line failure, or other similar cause beyond the reasonable control of IPAYMIX so affected at the time such causes arise ("Force Majeure Event"). 2. We shall be excused from its performance of its obligations for the duration of such Force Majeure Event provided that it shall at all times use all reasonable endeavours to mitigate the effects of such Force Majeure Event. If a Force Majeure Event continues for a period exceeding fifteen (15) consecutive Business Days then You will be entitled to terminate this Agreement without further charges.

12. Fees
1. Our fees for providing the Services to you are set out on Our Website (https://www.ipaymix.com) and you agree that they may be deducted from your iPaymix Personal Account either when the Services are provided or at the end of the applicable charging period (as appropriate). We may amend Our fees at any time in accordance with Clause 13 below.

13. Variation to this Agreement
1. Except as is otherwise set out herein, We may, at Our discretion, amend this Agreement at any time (including amendments and additions to Our fees) in accordance with the here under mentioned terms and conditions. Where amendments are made in order to comply with the regulatory obligations which We have, We shall not inform you prior to the implementation of such amendments. However, We will inform you should such changes affect the relationship between us.
2. Without prejudice the above Clause 13, We shall notify you of any changes which may vary or otherwise change the terms and conditions agreed to in this Agreement. We have an obligation to inform you, by way of a written notification, at least sixty (60) days prior to the implementation of such changes. Upon receipt of the notice of change, you have the right to decide whether or not you agree to such changes. Notification that you are not in agreement with the proposed changes shall reach Us prior to the coming into effect of such changes. Should We not receive any notification in this respect, it shall consider that the proposed changes have been accepted by you.
3. If you are not in agreement to the variations being done to the Terms and Conditions of this Agreement, you have a right to close your iPaymix Personal Account and terminate this Agreement. If you do not write to iPaymix to close your iPaymix Personal Account and terminate the Agreement on these grounds, We are entitled to assume you have accepted the changes to the Terms and Conditions on the coming into effect of such changes. For the avoidance of doubt, this Agreement will not be deemed to be or be interpreted as having been amended as a result of any oral communication or practices between us.
4. We may upgrade your iPaymix Personal Account or enhance the Services provided to You at any time where You will incur no extra cost and We consider this to your advantage.
5. We may from time to time adjust the content and interfaces of the Services. If such adjustments lead to a change in software, interfaces or operating procedures, We shall notify you as soon as reasonably practicable prior to the implementation of such adjustments.

14. Statements
1. Statements (including such information relating to payments made out of the Personal Account as is required under the Central Bank of Malta Directive No 1 – The Provision and Use of Payment Services) will be made available through Our Online Portal.
2. You may therefore generate on an ad hoc basis at any time, a statement of your transaction history reports for which no fees shall apply and which shall cover the following information: (a) Once a payment has been made:
- Date of receipt of the Instruction
- Transaction reference number
- Information relating to the payee, where appropriate
- Amount of the Transaction, the currency and the exchange rate used
- Any charges levied
- Rolling balance of the iPaymix Personal Account.
(b) Once a payment has been received:
- Credit value date
- Transaction reference number
- Information transferred with the Transaction
- The amount of the Transaction, the currency and the exchange rate
- Any charges levied
- Rolling balance of the iPaymix Personal Account.
3. We will also periodically provide or make available statements with the information referred to above in electronic form, free of charge. Unless you advise Us that you require the information to be provided on a monthly basis, you will receive such statement at least once a year. You will be allowed to change to the monthly frequency at any time and free of charge. Your statement(s) will be sent to you electronically and you will need Acrobat© Reader to view, save or print your statement.
4. Ad hoc statements in paper form can be prepared for you by Us at Your request and for which fees may apply.
5. You are expected to check each statement and notify Us immediately of any errors or queries.

15. Contact
1. We may contact you by post, telephone, fax or email using the latest address, telephone number or email address you have given Us. It is your responsibility to ensure that We have your current contact details. If you do not inform Us promptly of a change to your details, the security of your information could be put at risk.
2. If We believe that there is any doubt about the address which You have provided, We may suspend the operation of your iPaymix Personal Account (without liability for the consequences of so doing) until your address is confirmed to Our satisfaction.
3. Contact will only be directly with you as the holder of the iPaymix Personal Account.
4. You can contact Us by email on support@ipaymix.com or by speaking to one of our customer support representatives on +356 2247 0000.
Alternatively you may visit us at our registered office at: Capital Business Centre, Entrance A, Floor 2, Triq Taz-Zwejt, San Gwann, SGN 3000, Malta.
The support hours shall be from 8am to 5pm (CET).
5. We may record or monitor telephone calls and monitor electronic communications (including emails) between us so that We can check Instructions and make sure that IPAYMIX are meeting its service standards and complying with all applicable laws and Regulations. For further information, You may visit Our Website: https://www.ipaymix.com
6. We only provide information to You in the English language.

16. Closing Your Personal Account
1. Subject to Clause 16.3.ii, you have the right to close your iPaymix Personal Account immediately by written notice to Us. In the event that you close your iPaymix Personal Account or if We close your iPaymix Personal Account for the reasons described in Clauses 16.2 and 16.3.1 within six (6) months from the date of opening your iPaymix Personal Account, termination fees as set out on Our Website shall apply (except where you close your iPaymix Personal Account within fourteen (14) days from the Operative Date.
2. We may take action to close your iPaymix Personal Account immediately in exceptional circumstances such as if We reasonably believe that:
i. You are not eligible for a Personal Account;
ii. You have given Us any false information at any time;
iii. You or someone else is using the Personal Account illegally or for criminal activity;
iv. Your behaviour means that it is inappropriate for Us to maintain Your Personal Account;
v. Your conduct in relation to Your Personal Account has been consistently unacceptable.
vi. by maintaining Your Personal Account We may break a law, regulation, code or other duty which applies to Us;
vii. by maintaining Your Personal Account We may damage Our reputation; or
viii. You have been in serious or persistent breach of this agreement or any additional conditions which apply to Your Personal Account.
3. In addition to Our rights to close your iPaymix Personal Account set out above, We may also close your iPaymix Personal Account where:
i. any minimum balance in place from time to time of the iPaymix Personal Account has not been maintained or your account has been dormant in accordance with Clause 17; or
ii. You do not accept a change which is unfavourable to you, of which notice has been given in accordance with Clauses 11 above. You should tell Us in writing before the lapse of the said notice period. Telling Us that you do not accept the change will be deemed to be your request to close your iPaymix Personal Account immediately and without any additional fees for closing your iPaymix Personal Account.
4. When your iPaymix Personal Account is closed, it is your responsibility to cancel any direct payments to your iPaymix Personal Account. Where someone attempts to make a payment into your iPaymix Personal Account which has been closed, We will take reasonable steps to return the payment to the sender.
5. If We want you to close your iPaymix Personal Account, We will write to you specifying the period of time within which you are required to comply with this request. If, at the end of that period your iPaymix Personal Account has not been closed, We will be entitled to refuse to accept any more payments into your iPaymix Personal Account and may return any existing balance to you.
6. Other than in the circumstances mentioned above in clauses 16.2 and 16.3, We will not close your iPaymix Personal Account without giving at least two (2) months' notice by written notification.
7. Upon termination, We shall provide to you, on paper or another durable medium, and at no cost, a statement setting out the following information, which shall cover a period of thirteen (13) months prior to the termination:
(a) a reference enabling you to identify each payment transaction and, where appropriate, information relating to the payee;
(b) the amount of the payment transaction in the currency in which your iPaymix Personal Account has been debited or in the currency used for the payment instruction;
(c) the amount of any charges for the payment transaction and, where applicable, a breakdown of the amounts of such charges payable by you;
(d) where applicable, the exchange rate used in the payment transaction and the amount of the payment Transaction after that currency conversion;
(e) the debit value date or the date of receipt of the payment Instruction, as well as the credit value date, if applicable.
8. Upon termination, charges for any Services levied by Us shall be proportionately reimbursed to you. We will return any funds to you within thirty (30) calendar days of the iPaymix Personal Account closure (unless they are reasonably required by Us as security against any liability owed by you to Us or due to a lawful requirement). You agree to pay any amounts you owe Us which have not been taken out of your iPaymix Personal Account at the date of closure, and any charges incurred. We may exercise the right of retention over all your funds held in any iPaymix Account until all outstanding fees, costs, charges, expenses and liabilities due to Us, whether under this Agreement or any other agreement that you have entered into with Us, have been paid in full.
9. Termination shall in no case affect any rights, obligations, liability or any claims whatsoever, which may have accrued before the termination or that shall the termination due to their nature.

17. Blocking/Dormant Accounts
1. We may take action to block your iPaymix Personal Account immediately in the following circumstances:
  a. If We reasonably believe that an Instruction purporting to come from you has not been properly authorised by you or that any other breach of security has occurred in relation to your use of the Services;
  b. If your account has been dormant and there have been no Transactions (excluding all and any fees and charges that may apply) for a period of at least six (6) months, we reserve the right to block it and list your account as a dormant account;
  c. If at any time the sum of all credits exceeds the maximum loading limits per calendar year assigned to your iPaymix Personal Account by Us;
  d. If We reasonably believe that the account is not being maintained in a correct manner giving rise to suspicious transactions;
2. With the exception of the instances listed under Clause 17(c) and Clause 17(d), you may be able to reactivate your blocked account upon contacting and providing clear instructions to Our customer support.

18. Confidentiality
1. We will take reasonable care to ensure that the information held by Us about you is not disclosed to anyone, except where:

We are required to disclose information to Our Group Companies, professional advisers employees, officers, sub-contractors and agents (on a need to know basis);
We are required to disclose information in connection with the sale, acquisition or restructuring of Our Group Companies, provided that the recipient of the information uses it for the same or similar purposes for which it was supplied or used by Us;
We are legally required to disclose;
We have a public duty to disclose;
Our legitimate business purposes require disclosure;
The disclosure is made with Your consent; or
It is disclosed in accordance with Clause 19 below and such other provisions of these Terms and Conditions.

19. Information and Information Sharing
1. We store and process your data, including personal data, in terms of the Data Protection Act (Chapter 586 of the Laws of Malta), to the extent that this is necessary for the appropriate conduct of Our business and within the scope of the provision of Services to you. We therefore accept responsibility for information you provide to Us, upon receipt of such information. We may refuse to accept information from you where the requirements specified in any instructions issued by Us from time to time, are not satisfied and Our processing of the information shall not preclude Us from subsequently requiring its replacement, deletion or correction.
2. If you contact Us via email, We may collect your electronic identifier (for example, Internet Protocol (IP) address or telephone number) supplied by Your service provider.
3. We may share information which We receive from you during our initial assessment, with such associated organisations as is necessary for the purposes of providing the Services.
4. We reserve the right to pass information about you or your iPaymix Personal Account to third parties for administrative purposes, fraud prevention or where We are required to do so by law, especially with regards to the detection, reporting and prevention of fraud, money laundering and terrorist activity.
5. All personal information that you provide to Us will be treated as private and confidential even when you cease to be a customer.
6. Upon request of termination of your relationship with Us, you have the right to request Us to delete all information in relation to you and be forgotten by us, save for that which is needed by Us to keep an audit trail and save for the purposes of Our regulatory obligations. You can send Us an email on dataprotection@paymix.eu with your request for deletion or any other request you may have in relation to data protection.
7. You are entitled to enquire about information that We hold about you by making a request in writing to Our registered address.
8. You can request not to receive any marketing materials from Us by emailing Us at the address shown on Our Website.
9. From time to time We may change the way We use your information, upon which We shall give you a notification by writing.
10. The information which We collect from you may be transferred to, and stored at, a destination outside the European Economic Area ("EEA"). Information may also be processed by staff operating outside the EEA who work for Us or for one of its sub-contractors or suppliers in connection with the Terms and Conditions. We shall ensure that the adequate level of protection required by law is given to any of your information which is transferred or processed outside of the EEA in accordance with this Clause. We accept responsibility for information you provide to Us, upon receipt of such information.
11. For further information as to how We use your information you can refer to Our Privacy Policy.

20. Security
1. We implements secure customer authentication for log-in access to the Online Portal, (via Our web-based portal or via the iPaymix Mobile Application) In order for you to access the Services for the first time, whether via the web or iPaymix Application, you will need individual security details comprising individual username and password. Secondly You are required to also use a one-time passcode ("OTP"), that will either be provided by Us via an SMS. Should you wish to access Our Online Portal via Our web-based portal, you can opt to have the OTP generated through an authenticator application, the details of which will be available under the profile section after login. In order to log into the iPaymix Mobile Application, you will be asked to set up PIN/PIN & biometric verification after the first login. Username and password and OTP and/or PIN shall collectively referred to herein as the "Security Details". The Security Details will be required each time you log into Our Online Portal.
2. You should make all reasonable attempts to protect your iPaymix Personal Account. If you change any of your personal details such as your name or permanent residential address, please let Us know immediately in writing via email and to Our registered office. We may require evidence of a change of address or name.
3. You must keep the Security Details for your iPaymix Personal Account safe, secure and secret at all times and you must not disclose it to any other person including friends, family or work colleagues.
4. We will never ask you for confirmation of the Security Details by e-mail, telephone or anywhere on Our Website, or Our iPaymix Mobile Application or connected websites.
5. By applying for and using the Services, and to the extent permissible by law, you irrevocably accept and authorise Us to accept and act on all requests and instructions from you without taking further steps to ensure that such requests or instructions are genuine if such requests or instructions have been confirmed using the Security Details.
6. You must always log-off from the Online Portal when You are not using the Services and devices should not be left unattended when logged into the Online Portal.
7. You must not write down, store (whether in any encrypted code or otherwise) or specifically programme the mobile device(s) used to access the Services in order to remember any of the Security Details.
8. We reserve the right to keep records of any electronic requests, instructions or transactions that You shall make when using the Services.
9. Where You suspect that a third party knows the log-in details or password to your Account, or where such details have been lost, stolen, misappropriated, used without authorisation or have become compromised, you must immediately change it through Our Online Portal.
10. You must immediately notify Us if you become aware of or suspect that any breach of security has occurred relating to your iPaymix Personal Account and/or your iPaymix Personal Account ay have been used in an unauthorised manner. Please contact Us by telephone on + 356 2247 0088 without undue delay at the earliest opportunity and no later than the next Working Day. You will be required to confirm this in writing to Us. Any delay in notifying Us may result in You bearing all the losses resulting therefrom as further explained in Clause 9.
11. If you become aware of a transaction on your iPaymix Personal Account which you have not authorised, please contact Us by telephone on + 356 2247 0088 in the first instance at the earliest opportunity and without undue delay.
12. We may suspend the use of the Service in part or in whole, including blocking your iPaymix Personal Account where We, or you, suspect that the security may have been compromised or that an unauthorised or fraudulent use has taken place. We shall inform you in advance, or, if that is not possible, immediately after, the suspension of the use of the Service, specifying the reasons for the suspension, unless such provision of information would compromise reasonable security measures or be otherwise unlawful. We shall provide replacement Security Details as soon as practicable after the reasons for the suspension cease to exist, on condition that you have performed all obligations to Us.
13. More information on Our security measures can be found on Our Website.

21. Assignment and Subcontracting
1. This Agreement is personal to you and you may not assign it or transfer any rights in relation to your iPaymix Personal Account or any of your rights under it without Our consent.
2. Your iPaymix Personal Account is not transferrable and the electronic money in the iPaymix Personal Account belongs to the Person registered as the Account Holder. No Person, other than in the event of succession, (transfer causa mortis), has any rights in relation to the funds held in the iPaymix Sole Trader Account other than the Account Holder.
3. We shall be entitled to assign or transfer the benefit of all or any of Our rights in relation to your iPaymix Personal Account and/or to sub-contract all or any of Our obligations herein to any person at any time.

22. Governing Law and Jurisdiction
1. These Terms and Conditions and any matter arising from or in connection with Your Personal Account shall be governed by and construed in accordance with Maltese law but any mandatory protection under the laws of Your country of residence shall apply to you.
2. We and You irrevocably agree that, for Our benefit only, the Maltese courts shall have exclusive jurisdiction over any claim or matter arising from or in connection with your iPaymix Personal Account, or the legal relationships established by or in connection with it. Accordingly, any proceedings by or against Us in respect of such claim or matter must be brought in the Maltese courts, but We shall not be prevented from taking proceedings against you either in the Maltese courts or in any other court of competent jurisdiction. To the extent permitted by law, We may take concurrent proceedings in any number of jurisdictions.

23. Complaints
1. Our aim is to provide the highest possible standard of service to all Our customers. If, however, You wish to make a complaint about Our services or any other issue, please send an email to complaints@paymix.eu.
2. Alternatively, you can also call Our Customer Support on +356 2776 1844 during office hours and provide them with full details of Your complaint. We will then investigate the situation and try to resolve the issue as quickly as possible.
3. If You remain dissatisfied with Our full response regarding a Personal Account or Our other Services, You can write to: The Office of the Arbiter for Financial Services
First Floor
St Calcedonius Square
Floriana FRN1530
Malta.
Website: https://www.financialarbiter.org.mt
Phone Number +356 2124 9245 (Freephone from Malta 80072366)

Terms & Conditions – Personal Account for Accounts opened prior to 30-06-2022

This user agreement is a contract between You (Account holder) and Finance Incorporated Limited trading as "iPaymix", a private limited liability company, duly registered and organised under the laws of Malta with registration number C558338, having its registered address at Capital Business Centre, Block A, Floor 2, Triq taż-Żwejt, San Ġwann, SGN 3000, Malta, being a Financial Institution Authorised by the Malta Financial Services Authority in accordance with the Financial Institution Act 1994, regulating the issuing of electronic money and the provision of payment services ('iPaymix', 'We', 'Us', 'Our')
This User Agreement explains iPaymix's obligations to You and Your obligations to iPaymix.
The following documents are incorporated into and form part of these Terms and Conditions:
1. the Registration Form;
2. these Terms and Conditions, together with any additional terms and conditions which apply in relation to any of other services iPaymix may provide to You;
3. any fee or tariff sheet referred to in Our Website where applicable; and
4. any Operating Instructions, information sheets or manuals relating to various aspects of the Services which are issued by iPaymix from to time to time.
iPaymix reserves the right to suspend, cancel, add, modify or delete any term and condition in connection with Your Personal Account and to amend its fees or tariff sheet. iPaymix will provide You with 60 days' written notice before amending any term and condition. You reserve the right to cancel Your Personal Account and immediately terminate the Agreement without incurring any fees for doing so provided that You notify Us in writing or by contacting Our customer services within the said 60 days. If You do not accept the change, the provisions of Clauses 13 and 16 below will apply. If You do not notify Us within the said 60 days, then You will be deemed to have accepted the amendments to the terms and conditions and these will take effect.
At Registration, iPaymix consider that these terms and conditions are read, understood and accepted by You. In accepting these terms and conditions You are also agreeing to the Fee or Tariff Sheet referred to on Our Website.
Every Registration is considered individually and the provision of this Agreement does not guarantee or imply acceptance by iPaymix of any Registration. iPaymix reserves the right to reject a registration should it consider to be appropriate to do so.

1. Definitions and interpretation
The following terms shall (unless the context otherwise requires) have the meanings ascribed below:
"Agreement": means the agreement entered into between iPaymix and You in accordance with these Terms and Conditions and any terms and conditions applying to any of the Services, as applicable;
"BIC": means a Bank Identifier Code;
"EEA": means the European Economic Area;
"Group Company": means in respect of a party, any undertaking which, directly or indirectly controls or is controlled by such party or an undertaking which, directly or indirectly, controls or is controlled by any aforementioned undertaking;
"IBAN": means an International Bank Account Number;
"Instruction": means any instruction given to iPaymix by You, as referred to in Clause 6
"Operative Date": means the date upon which Your Personal Account is opened;
"Online Portal" means the online management system made available by iPaymix on the Website and accessible by You which enables You to manage the information and functionality relating to Your Personal Account;
"Operating Instructions": means any operating instructions as communicated to You by iPaymix from time to time, setting out the procedures, information and instructions which You must follow in connection with the Services;
"PEP (Politically Exposed Person)": means all persons who fulfil a prominent public function. For the purposes of the definition of 'political exposed persons' –
A. The term 'have been entrusted with prominent public functions' shall include the following:
i. Heads of State, Heads of Government, Ministers and Deputy and Assistant Ministers and Parliamentary Secretaries;
ii. Members of Parliament;
iii. Members of the Courts or of other high-level judicial bodies whose decision are not subject to further appeal, except in exceptional circumstances;
iv. Members of courts of auditors, Audit Committees or of the boards of central banks;
v. Ambassadors, charges d'affaires and other high-ranking officers in the armed forces;
vi. Members of the administrative, management or boards of State-owned corporations.
Where applicable, for the purposes of subparagraphs (i) to (v), shall include positions held at the Community or international level. But shall exclude middle ranking or more junior official positions.
B. The term 'immediate family members' shall include the following:
i. The spouse, or any partner recognized by national law as equivalent to the spouse;
ii. The children and their spouses or partners; and
iii. The parents.
C. The term 'persons known to be close associates' shall include the following:
i. A natural person known to have joint beneficial ownership of a body corporate or any other form of legal arrangement, or any other close business relations with that politically exposed person;
ii. A natural person who has sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of that politically exposed person.
"Personal Account": means Your E-wallet account which shall be provided to you as an Individual Customer/Natural person in accordance with these Terms and Conditions;
"Person" means any individual and/or natural personal;
"Registration": means Your registration to Us for the provision of any of the Services (and " Registration Form" shall be construed accordingly);
"Regulation": means all laws, acts, regulations, orders and directives and all codes of practice and guidance issued by government agencies, self-regulatory bodies and trade associations (whether or not having the force of law) applicable to the conduct of Our or Your businesses or in connection with their rights and obligations under these Terms and Conditions;
"Rules": means the applicable rules, regulations and operating guidelines relating to your Personal Account;
"Transaction: means a payment transaction issued by a payee or payer to place, transfer or withdraw funds;
"Website": means Our website which is available at www.ipaymix.com;
"Working Day": means Monday to Friday, excluding Bank Holidays; and
"You": means the Person which has applied for the Services and been accepted by Us as a customer.

In this User Agreement (unless the context otherwise requires):
1. the words "including" and "include" and words of similar effect shall not limit the general effect of the words which precede them;
2. references to the Agreement, Terms and Conditions and any other agreement, contract or document (including the Rules) shall be construed as a reference to it or them as varied, supplemented or novated from time to time;
3. words importing the singular shall include the plural and vice versa;
4. words importing any gender shall include a reference to each other gender; and
5. references to a numbered clause or paragraph are to a clause of these Terms and Conditions or paragraph of the schedule so numbered.
The headings in this Agreement are for convenience only and shall not affect their construction or interpretation.

2. Our obligation
1. Notwithstanding any Registration Form submission, iPaymix shall not be obliged to provide any Service unless and until We notify You in writing that We have accepted your Registration and Your Personal Account been activated as a result.
2. The Services shall be provided in return for the fees and upon and subject to the provisions of these Terms and Conditions.
3. The Services shall be provided with reasonable care and skill and in accordance with all applicable laws and regulations (including the Rules and the Operating Instructions).

3. Term
You acknowledge and accept that Your Personal Account does not expire and that no interest shall accrue in favour of Your monies that are held on Your Account.

4. Services
Our Services shall include the services provided by iPaymix in respect of the Personal Account, together with any other Services which may be requested by You and agreed to by iPaymix from time to time.

5. Opening Your Personal Account
iPaymix accounts may be used for different reasons. We understand that the account may be used to transfer money between friends and family members or sell online goods and receive the proceeds of such sales.
You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that You use to access your account and iPaymix's services. You are responsible for keeping your mailing address, email address and other contact information up-to-date in your iPaymix account profile.
You can choose between two options:
1. Low Threshold Account – an account which has a maximum annual limit of EUR 2,500 and a transactions treshhold of EUR 100 per transaction. You will be asked to provide an identification document and your account will be sent for approval which is done within 24 hours. You can always request to be upgraded to the Upgraded Account. However, further due diligence will be requested from our part;
2. Upgraded Account – an account which has a maximum annual limit of EUR 50,000 without any transaction limits. Full due diligence will be requested. You will be asked to upload an identification document, proof of address and a tax number which needs to be substantiated by an official document confirming the tax number.

Identity Verification
On Registration, depending on Your choice of account, You will be asked for your identity and other personal details. iPaymix has established special verification systems involving your bank account or payment card to prove your identity. To safeguard the integrity of our payment system, your Personal account will also be subject to periodic transaction limits depending on your user status.
Depending on your user status, You may also find that you are asked to confirm your identity and provide additional personal details and supporting documentation. Furthermore you are also obliged to provide your tax identification number as well as proof of that tax identification number, by means of an official document. While our identity verification procedures are designed to minimise any inconvenience for you, the verification process may take several days to complete depending on the timely receipt of the original documentation requested by us.

Why do we need to carry identity verification?
We are required by the Prevention of Money Laundering and Funding of Terrorism Act ("PMLFTA") to verify Your identity and address. This helps to protect Our customers and members of the public against fraud, combat Money Laundering and Funding of Terrorism and prevent misuse of Our systems.
The PMLFTA requires that We:
1. Verify your identity and address;
2. Keep full records of all transactions together with identification provided;
3. Monitor any unusual or suspicious transactions of any size;
4. Report to the Financial Intelligence Analysis Unit (FIAU) any suspicious transaction.
If We are unable to verify identity through an electronic search, or would require further documentation according to individual circumstances, We will contact You and ask You to provide such documents and You agree to provide such documents.

Politically Exposed Persons ("PEP")
At Registration, You warrant that You are not a PEP or an immediate family member or a close associate of a PEP and You shall immediately inform Us as soon as You become a PEP or an immediate family member or a close associate of a PEP. This declaration is applicable to both local and foreign PEPs. Failure to disclose such information may lead to the closure of the account.

Additional Information
We also have an obligation to maintain up to date identification for all Our customers. This means that We may require additional information from time to time, even for customers who currently receive or have previously received services from Us and You will, upon request, provide such additional information.

6. Payment Instructions
1. All Instructions given by You shall be logged through the online portal. Such Instructions will be actioned in accordance with the time periods set out herein and as soon as reasonably possible after the Instruction is received.
2. Transactions are regarded as authorised by You where You confirm the execution of a Transaction on Your Account. Our online portal will provide you with a second Authentication level at login stage and when executing payments. You need to follow the instructions provided to You with such additional security measures.
3. Where We reasonably believe that an Instruction purporting to come from You has not been properly authorised by You or that any other breach of security has occurred in relation to Your Use of the Services, we reserve the right not to act, or to delay acting upon the Instruction and, in that event, We will inform You as soon as reasonably practicable. iPaymix will not have any liability to You if You suffer loss because of Our decision not to act or to delay in acting on an Instruction in these circumstances.
4. You shall ensure that all Instructions sent to Us are complete and accurate. iPaymix will not be liable for any loss if an Instruction is not actioned or is actioned incorrectly due to inaccurate or incomplete Instructions or if an Instruction is not received by Us.
5. You may request Us to cancel or modify any Instruction but We are only required to use reasonable efforts to comply with such request. iPaymix will not be liable for any failure to cancel or modify such an Instruction.
6. We may refuse, at Our discretion and without liability, to act or delay acting on Your Instruction if it is a request or Instruction, the effect of which would be to exceed a general limit imposed by Us in relation to Your Personal Account.
7. You should ensure that the Funds in your Personal Account are sufficient to cover the payment You intend to make as well as any applicable fees. We shall refuse an informal overdraft request that would cause Your Personal Account to be overdrawn.
8. You shall indemnify and keep Us indemnified against all actions, proceedings, costs, loss or damage of any kind, that We and/or Our subsidiaries and associate undertakings may suffer as a result of acting on Your Instructions in relation to the Services or as a result of Your failure to comply with Your obligations under this Agreement.

7. Payments to Your Personal Account
1 Depending on Your verification status, the following loading channels are available for payment to Your Personal Account:
a. Bank transfers from other bank accounts held with other credit institutions in Your or third party name depending on Your level of due diligence, for which You must provide Your credit institution with iPaymix BIC & IBAN and Your Personal account number as reference;
b. Credit/Debit cards issued in Your name by other credit institutions/issuers;
c. Transfers from other iPaymix E-wallet accounts; and
d. Other payment methods available in Your country of residence.
2. Where the Loading channels are payment services provided by third party financial institutions, we do not guarantee the use of any particular loading channel made available, and may make changes to or discontinue the acceptance of any particular loading channel at any time by giving you notice in accordance with Clause 13.
3. If You choose a loading channel that may be subject to chargeback rights such as (but not limited to) credit or debit card or direct debit, You declare that You will not exercise such chargeback right other than for a breach by Us of this Agreement which would result in You having a right to a refund of the loaded / reloaded amount. Otherwise, You may not charge back any loading transaction or allow a chargeback of any such transaction for reasons for which We are not responsible including (but not limited to) disputes with merchants for non-delivery of goods or services or insufficient balance on Your account. We reserve the right to charge You fees and expenses We incur in connection with such chargeback and any action undertaken to challenge the same. We may also charge You a chargeback fee per chargeback as referred to on Our Website, where applicable.
4. If a chargeback or reversal of a loading Transaction results in a negative balance on Your Account, You will be required to repay such negative balance by reloading sufficient funds into Your Personal Account. Failure to do so is a breach of this Agreement. Repayment of the negative balance is due immediately without notice. During such period when the Account is in negative balance and until You make the required repayment to Your Account We reserve the right to block Your Account and require repayment from You . To the extent that You do not reimburse Us within 2 Working Days following notification by Us, We reserve the right to charge you a Negative fee. We also reserve the right, at any time, to send You reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge You the expenses iPaymix reasonably incurs in connection with any debt collection or enforcement efforts.
5. You must not load Your Account through a credit/debit card issued by other credit institutions/issuers, if You are not the named holder of that card. We take any violation of this requirement very seriously and will treat any attempt to use a payment instrument of which You are not the named holder as a fraudulent act.
6. You should be aware that loadings may be subject to loading limits due to security and legal requirements. These limits are set dynamically depending on Your verification status and the respective products You have applied for.
7. Payments received through Bank transfers will be credited to Your Personal Account on the following Working Day after funds are received by iPaymix.
8. Loading through Credit/Debit cards issued in Your name by other credit institutions/issuers will be credited to Your Personal Account once the transaction is authorised by Your credit institution/issuer.
9. Transfers from other iPaymix and Paymix Pro E-wallet accounts will be credited to Your Personal Account on the same Working Day.
10. If a payment is (i) fraudulently or mistakenly paid into Your Personal Account or (ii) refused by any competent authorities or if We are obliged to return a payment to the payer for any reason after it has been credited to Your Personal Account, You agree that the amount of the payment may subsequently be deducted by Us. This may occur even if (i) the funds are included in Your Personal Account balance,(ii) You have used the funds to make a payment or (iii) You have transferred or withdrawn all or part of them. If the deduction of the payment from Your Personal Account would make Your Account go overdrawn, You acknowledge that the amount by which Your Account is in debit, shall constitute a debt owing by You to Us. Following notification by Us to You that You have a debit balance on Your Personal Account, You shall promptly reimburse such sum to Us and in any event within 2 Working Days of notification by Us. To the extent that You do not reimburse Us within 2 Working Days following notification by Us, We reserve the right to charge you a Negative fee. We also reserve the right, at any time, to send You reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge You the expenses iPaymix reasonably incur in connection with any debt collection or enforcement efforts.
11. You should be aware that payment paid into Your Personal Account can be reversed. We reserve the right to reverse a payment in cases where the Payer or the Payer's bank has charged back or otherwise reversed (or is reasonable likely to charge back or otherwise reverse) a loaded or other payment which was used to fund the payment to You.

8. Payments from Your Personal Account
1. Payments from Your Personal Account can be made to a third party recipient through SEPA Credit Transfers and Electronic Fund Transfer or other methods notified to You from time to time.
2. We will process and be responsible for processing payments from Your Personal Account solely on the basis of the BIC, sort code or national bank code of the recipient's bank and the recipient's bank account number (or IBAN) included in the payment Instructions We receive from You, regardless of any additional information provided to Us.
3. If incorrect payment details have been provided, the payment may be delayed or credited to a wrong account and We will not be liable for any loss incurred by anyone and/or for any delay to the payment being made. In addition iPaymix reserves the right to charge You with a cancellations/repair fee plus a recharge of other third party banks.
4. Payment instructions will be processed by iPaymix as follows:
SEPA Credit Transfers
(i) on the same day – for payments received on a Working Day by 16.00 CET; or
(ii) on the following Working Day – for payments received after 16.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
Non-SEPA Transfers
(i) on the same day – for payments received on a Working Day by 13.00 CET; or
(ii) on the following Working Day – for payments received after 13.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
SEPA credit transfers will be executed as a "Shared" ("SHA") payment instruction whereby You will bear charges applied by Us and the beneficiary bears charges applied by the beneficiary's payment service provider.
For Non-SEPA transfers, You must indicate the person bearing the charges applied by other payment service providers. If You indicate "SHA", You will bear charges applied by Us and the beneficiary bears charges applied by the beneficiary's payment service provider. On the other hand if You indicate "Borne by ordering customer" ("OUR"), You will bear charges applied by Us and by the other payment service provider. The respective charges by the other payment service provider will be debited to your Personal Account once communicated to Us by the other payment service provider.
5. We will give You prior notice of any National and/or Public Holidays during a particular calendar month.
6. Outward payments will be reflected in Your Personal Account on the next working day. Nevertheless, Your Personal Account available balance would be deducted with the payment amount.
7. Payments may be subject to payment limits due to security and legal requirements. You should ensure that Your limits are sufficient to cover the payment You intend to make as well as any applicable fees.
8. When executing transfers from Your Personal Account to another Personal Account held with Us, You should be aware that the recipient of a payment may also be subject to loading, spending and withdrawal limits and that this may affect the recipient's access to the funds You intend to send.
9. Transfers from Your Personal Account to another Personal Account held with Us will be processed on the same day.

9. Liability
1. Except to the extent that loss or damage is caused directly by iPaymix's negligence or wilful misconduct, and as otherwise set out in this Clause 9, iPaymix will not be liable to You for any loss or damage which You may suffer as a result of Your use of the Services.
2. iPaymix will not be liable to You or any third party for:
1. any loss suffered if You give iPaymix an Instruction which is incorrect including but not limited to incorrect payment details;
2. any loss of information, profit, goodwill, business or anticipated savings nor for any indirect loss or damage in each case whether reasonably foreseeable or not and even if iPaymix has been advised of the likelihood of such loss or damage and whether arising from negligence, breach of agreement or otherwise;
3. any loss suffered if iPaymix is prevented from or delayed in providing You with payment or other services due to iPaymix complying with its other obligations under applicable law or Regulation or due to abnormal or unforeseeable circumstances beyond iPaymix's reasonable control (which may include but is not limited to the action of any government or government agency, strikes or other industrial action not involving iPaymix staff, failure of third party equipment, interruption to third party power supplies and/or disruption to the international banking systems to and/or through which payments are sent); or
4. any losses resulting from third party services outside iPaymix's reasonable control (including, but not limited to, telephone and browser services or any act or failure to act by any other financial institution or third party), whether such services are used by You to access the Services or used by iPaymix in order to provide the Services or to comply with Your Instructions. We shall not be liable for errors, delays or failures in the transmission or receipt of Instructions.
3. You are responsible for the security of any information which You communicate to iPaymix in the course of using the Services.
4. You are liable for any telephone or other communication charges and any charges made by Your internet service provider or any third party as a result of its use of the Services.
5. You shall be liable, without limitation or exclusion, to iPaymix for any loss suffered by Us as a result of Your breach of this Agreement or through your negligence.
6. We will be responsible for losses resulting directly from payments which You tell Us that You have not authorised unless You have acted fraudulently or You have allowed an unauthorised person to give payment instructions or You have not immediately notified Us and/or changed Your password when You become aware of any breach of security relating to Your Personal Account.
7. For the avoidance of doubt, You are liable without any limit for all losses relating to payments where You have acted fraudulently or failed to comply with this Agreement.
8. You shall indemnify and keep iPaymix indemnified against all actions, proceedings, costs, loss or damage of any kind, which iPaymix and any of Our subsidiaries and associate undertakings, may suffer as a result of acting on Your instructions in relation to the Services or as a result of Your failure to comply with Your obligations under this Agreement.

10. Safeguarding of Assets
iPaymix shall safeguard all funds received from payment services users or in exchange for electronic money that has been issued.
Such funds held by iPaymix shall be deposited in a separate bank account in a credit institution domiciled in a reputable jurisdiction.
You acknowledge that the Maltese Deposit Guarantee Scheme does not cover electronic money issued by Us or claims made in connection with the issuing of electronic money.

11. Force Majeure
iPaymix shall not be responsible or liable for any losses arising out of any delay in or interruption of the performance of its obligations under this Agreement due to any act of God, act of governmental authority, act of the public enemy or due to war or terrorism, the outbreak or escalation of hostilities, riot, civil commotion, insurrection, labour difficulty in relation to a third party (including, without limitation, any strike, or other work stoppage or slow down), severe or adverse weather conditions, communications line failure, or other similar cause beyond the reasonable control of iPaymix so affected at the time such causes arise ("Force Majeure Event"). iPaymix shall be excused from its performance of its obligations for the duration of such Force Majeure Event provided that it shall at all times use all reasonable endeavours to mitigate the effects of such Force Majeure Event. If a Force Majeure Event continues for a period exceeding fifteen (15) consecutive Business Days then You will be entitled to terminate this Agreement without further charges.

12. Fees
Our fees for providing the Services to You are set out on Our Website and You agree that they may be deducted from Your Personal Account either when the Services are provided or at the end of the applicable charging period (as appropriate).
We may amend Our fees at any time in accordance with Clause 13 below.

13. Variation to this Agreement
Except as is otherwise set out herein, iPaymix may, at its discretion, amend this Agreement at any time (including amendments and additions to Our fees) in accordance with the here under mentioned terms and conditions: Where amendments are made in order to comply with the regulatory obligations which iPaymix has, iPaymix shall not inform You prior to the implementation of such amendments. However, iPaymix will inform You should such changes affect the relationship between You and iPaymix.
Without prejudice the clause 13.1, iPaymix shall notify You of any changes which may vary or otherwise change the terms and conditions agreed to in this Agreement. iPaymix has an obligation to inform You, by way of a written notification, at least 60 days prior to the implementation of such changes. Upon receipt of the notice of change, You have the right as to whether or not You agree to such changes. However, notification that You are not in agreement with the proposed changes shall reach iPaymix prior to the coming into effect of such changes. Should iPaymix not receive any notification in this respect, it shall consider that the proposed changes have been accepted by You.
iPaymix may upgrade Your Personal Account or enhance the Services provided to You at any time where You will incur no extra cost and iPaymix consider this to Your advantage.
iPaymix may from time to time adjust the content and interfaces of the Services. If such adjustments lead to a change in software, interfaces or operating procedures, iPaymix shall notify You as soon as reasonably practicable prior to the implementation of such adjustments.
If You are not in agreement to the variations being done to the Terms and Conditions of this Agreement, You have a right to close your Personal Account or terminate this Agreement, where applicable. If You do not write to iPaymix to close your Personal Account or terminate the Agreement on these grounds, iPaymix are entitled to assume You have accepted the changes to the Terms and Conditions on the coming into effect of such changes.

For the avoidance of doubt, this Agreement will not be deemed to be or be interpreted as having been amended as a result of any oral communication between the Parties or as a result of any practice between the Parties.

14. Statements
Statements (including such information relating to payments made out of the Personal Account as is required under the Central Bank Of Malta Directive No 1 – The Provision and Use of Payment Services) will be made available through Our Online Portal.
You are expected to check each statement and notify Us immediately of any errors or queries.
Through Our Online Portal you may also generate on an ad hoc basis at Your request transaction history reports – for which no fees apply.

15. Contact
iPaymix may contact You by post, telephone, fax or email using the latest address, telephone number or email address You have given Us. It is Your responsibility to ensure that iPaymix has Your current contact details. If You do not inform iPaymix promptly of a change to Your details, the security of Your information could be put at risk.
If iPaymix believe that there is any doubt about the address which You have provided, iPaymix may suspend the operation of Your Personal Account (without liability for the consequences of so doing) until Your address is confirmed to Our satisfaction.
Contact will only be directly with You as the holder of the Personal Account.
You can contact Us at the appropriate address and telephone number We give You, or by email. For further information, You may visit Our Website.
We may record or monitor telephone calls and monitor electronic communications (including emails) between us so that iPaymix can check Instructions and make sure that iPaymix are meeting its service standards and complying with all applicable laws and Regulations.
We only provide information to You in the English language.

16. Closing Your Personal Account
1. Subject to Clause 16.3.2, You have the right to close Your Personal Account immediately by written notice to Us. In the event that You close Your Personal Account or if We close Your Personal Account for the reasons described in Clauses 16.2 and 16.3.1 within 6 months from the date of opening Your Personal Account, termination fees as set out on Our Website shall apply.
2. We may take action to close Your Personal Account immediately in exceptional circumstances such as if We reasonably believe that:
1. You are not eligible for a Personal Account;
2. You have given Us any false information at any time;
3. You or someone else is using the Personal Account illegally or for criminal activity;
4. Your behaviour means that it is inappropriate for Us to maintain Your Personal Account;
5. Your conduct in relation to Your Personal Account has been consistently unacceptable.
6. by maintaining Your Personal Account We may break a law, regulation, code or other duty which applies to Us;
7. by maintaining Your Personal Account We may damage Our reputation; or
8. You have been in serious or persistent breach of this agreement or any additional conditions which apply to Your Personal Account.
3. In addition to Our rights to close Your Personal Account set out above, We may also close Your Personal Account where:
1. any minimum balance in place from time to time of the Personal Account has not been maintained or your account has been dormant in accordance with Clause 17; or
2. You do not accept a change which is unfavourable to You, of which notice has been given in accordance with Clauses 11 above. You should tell Us in writing before the lapse of the said notice period. Telling Us that You do not accept the change will be deemed to be Your request to close Your Personal Account immediately and without any additional fees for closing Your Personal Account.
4. When Your Personal Account is closed it is Your responsibility to cancel any direct payments to Your Personal Account. Where someone attempts to make a payment into a Personal Account which has been closed, iPaymix will take reasonable steps to return the payment to the sender.
5. If iPaymix want You to close the Personal Account, We will write to You specifying the period of time within which You are required to comply with this request. If, at the end of that period the Personal Account has not been closed, We will be entitled to refuse to accept any more payments into the Personal Account and may return any existing balance to You.
6. Other than in the circumstances mentioned above in clauses 16.2 and 16.3, We will not close Your Personal Account without giving at least 2 months' notice by written notification
7. We will return any funds to You within 30 calendar days of the Personal Account closure (unless they are reasonably required by Us as security against any liability owed by You to Us).
8. You agree to repay any amounts You owe Us which have not been taken out of Your Personal Account at the date of closure, and any charges incurred.

17. Blocking/Dormant Accounts
We may take action to block Your Personal Account immediately in the following circumstances:
a. If We reasonably believe that an Instruction purporting to come from You has not been properly authorised by You or that any other breach of security has occurred in relation to Your Use of the Services;
b. If your account has been dormant and there have been no Transactions (excluding all and any fees and charges that may apply) for a period of at least 6 months, we reserve the right to block it and list your account as a dormant account;
c. If at any time the sum of all credits exceeds the maximum loading limits per calendar year assigned to your Personal Account by Us;
d. If We reasonably believe that the account is not being maintained in a correct manner giving rise to suspicious transactions
With the exception of the instances listed under Clause 17(c) and Clause 17(d), You can reactivate your blocked account upon contacting and providing clear instructions to Our Customer support.

18. Confidentiality
We will take reasonable care to ensure that the information held by iPaymix about You is not disclosed to anyone, except where:
1. iPaymix is required to disclose information to Our Group Companies, professional advisers employees, officers, sub-contractors and agents (on a need to know basis);
2. iPaymix is required to disclose information in connection with the sale, acquisition or restructuring of Our Group Companies, provided that the recipient of the information uses it for the same or similar purposes for which it was supplied or used by Us;
3. iPaymix is legally required to disclose;
4. iPaymix has a public duty to disclose;
5. Our legitimate business purposes require disclosure;
6. the disclosure is made with Your consent; or
7. it is disclosed in accordance with Clause 19 below and such other provisions of these Terms and Conditions.

19. Information and information sharing
We accept responsibility for information You provide to Us, upon receipt of such information.
iPaymix may refuse to accept information from You where the requirements specified in any instructions issued by Us from time to time, are not satisfied and Our processing of the information shall not preclude Us from subsequently requiring its replacement, deletion or correction.
If You contact iPaymix via email, We may collect Your electronic identifier (for example, Internet Protocol (IP) address or telephone number) supplied by Your service provider.
iPaymix may share information which We receive from You during our initial assessment, with such associated organisations as is necessary for the purposes of providing the Services.
iPaymix reserves the right to pass information about You or Your Personal Account to third parties for administrative purposes, fraud prevention or where We are required to do so by law, especially with regards to the detection, reporting and prevention of fraud, money laundering and terrorist activity.
All personal information that You provide to Us will be treated as private and confidential even when You cease to be a customer.
Upon request of termination of Your relationship with iPaymix, You have the right to request us to delete all information in relation to You and be forgotten by us, save for that which is needed by iPaymix to keep an audit trail and save for the purposes of iPaymix's regulatory obligations. You can send us an email on dataprotection@paymix.eu with your request for deletion or any other request you may have in relation to data protection.
You are entitled to enquire about information that iPaymix holds about You by making a request in writing to Our registered address.
You can request iPaymix not to receive any marketing materials from Us by emailing Us at the address shown on Our Website.
From time to time, iPaymix may change the way it uses Your information, upon which iPaymix shall give you a notification by writing.
For further information as to how iPaymix uses Your information You can refer to Our Privacy Policy .
The information which We collect from You may be transferred to, and stored at, a destination outside the European Economic Area ("EEA"). Information may also be processed by staff operating outside the EEA who work for Us or for one of its sub-contractors or suppliers in connection with the Terms and Conditions. iPaymix shall ensure that the adequate level of protection required by law is given to any of Your information which is transferred or processed outside of the EEA in accordance with this Clause. We accept responsibility for information You provide to Us, upon receipt of such information.

20. Security
You should make all reasonable attempts to protect Your Personal Account. If You change any of Your Personal details such as Your name or permanent residential address, please let Us know immediately in writing to Our trading address. We may require evidence of a change of address or name.
You must keep the password of Your Personal Account safe, secure and secret at all times and You must not disclose it to any other person including friends, family or work colleagues.
Where You suspect that a third party knows the log-in details or password to Your Account, or where such details have been lost, stolen, misappropriated, used without authorisation or have become compromised, You must immediately change it through Our Online Portal.
You must immediately notify Us if You become aware of any breach of security relating to Your Personal Account. Please contact Us by telephone on + 356 2247 0088 at the earliest opportunity and no later than the next Working Day. You will be required to confirm this in writing to Us. Any delay in notifying Us may result in You bearing all the losses resulting therefrom as further explained in Clause 9.
If You become aware of a transaction on Your Personal Account which You have not authorised, please contact Us by telephone on + 356 2247 0088 in the first instance at the earliest opportunity.

21. Assignment and subcontracting
This Agreement is personal to You and You may not assign it or transfer any rights in relation to Your Personal Account or any of Your rights under it without Our consent.
The electronic money on the Personal Account belongs to the person or legal entity which is registered as the Account holder. No person, other than in the event of succession, has any rights in relation to the funds held in the Personal Account other than the Account holder.
We shall be entitled to assign or transfer the benefit of all or any of Our rights in relation to Your Personal Account and/or to sub-contract all or any of Our obligations herein to any Person at any time.

22. Governing law and jurisdiction
These Terms and Conditions and any matter arising from or in connection with Your Personal Account shall be governed by and construed in accordance with Maltese law but any mandatory protection under the laws of Your country of residence shall apply to You.
We and You irrevocably agree that, for Our benefit only, the Maltese courts shall have exclusive jurisdiction over any claim or matter arising from or in connection with Your Personal Account, or the legal relationships established by or in connection with it. Accordingly, any proceedings by or against Us in respect of such claim or matter must be brought in the Maltese courts, but We shall not be prevented from taking proceedings against You either in the Maltese courts or in any other court of competent jurisdiction. To the extent permitted by law, We may take concurrent proceedings in any number of jurisdictions.

23. Complaints
Our aim is to provide the highest possible standard of service to all Our customers. If, however, You wish to make a complaint about Our services or any other issue, please send an email to complaints@paymix.eu. Alternatively, You can also call Our Customer Support on +356 2776 1844 during office hours and provide them with full details of Your complaint. We will then investigate the situation and try to resolve the issue as quickly as possible.
If You remain dissatisfied with Our full response regarding a Personal Account or Our other Services, You can write to:
Office of the Arbiter for Financial Services
First Floor
St Calcedonius Square
Floriana FRN1530
Malta.
(Website)
Phone Number +356 2124 9245 (Freephone from Malta 80072366)

Annex 1 – Limits

Limits per Product	Global Premium
Max daily (transactions)	15
Max weekly (transactions)	45
Max monthly (transactions)	135
Max daily	10,000
Max weekly	20,000
Max monthly	30,000
Maximum Yearly	50,000

Limits per Channel	Daily	Weekly	Monthly
Load by bank transfer	10,000	20,000	30,000
Load by bank transfer	10,000	20,000	30,000
Transfer to another eWallet	10,000	20,000	30,000
SEPA payment	10,000	20,000	30,000
Non SEPA transfer	10,000	20,000	30,000

Limits per Channel	Maximum amount per transaction
Load by bank transfer	5,000
Transfer from another eWallet	5,000
Max monthly (transactions)	5,000
Transfer to another eWallet	5,000
SEPA payment (E)	5,000
Non SEPA transfer (E)	5,000