PRELIMINARY INFORMATION AND TERMS AND CONDITIONS APPLICABLE TO PAYMENT TRANSACTIONS[1]
(“Terms and Conditions”)
[1]Maximum fee rates applicable to the additional services can be found at the end of these Terms and Conditions.
1.- About RIA
Ria Payment Institution E.P., S.A.U. (hereinafter, “RIA” “we” or “us”), with registration number (CIF) A- 80696792 and head office located at Calle Cantabria 2, 28108, Alcobendas, Madrid (Spain) is authorised by the Ministry of Economy and Treasury of Spain as a Payment Institution since 28 July 2011 and is authorised to provide payment services in Estonia through its payment services agents in Estonia. The details (including the address) of the agent through which RIA is providing services to you shall presented on the receipt. RIA holds license number 6842 with Bank of Spain (RIA´s license details can be accessed at www.bde.es). RIA may be contacted by post at its head office address indicated herein or by phone (+3726167000).
The purpose of these Terms and Conditions is to establish the rights and essential obligations between RIA and its customers in the provision of payment services regulated in the Payment Institutions and E-Money Institutions Act and in the Law of Obligations Act (hereinafter together "Payment Services Regulation"), to allow the execution of Payment Transactions for instructions received by RIA from the Sender for execution (hereinafter, the "Individual Payment Orders"), by signing, where appropriate, the respective individual contracts establishing the specific conditions applicable to the specific payment service in question.
These Terms and Conditions apply exclusively to individuals using RIA´s money remittance service for purposes unrelated to a gainful or professional activity.
BY ACCEPTING THESE TERMS AND CONDITIONS, YOU ARE AGREEING TO BE BOUND BY THESE TERMS AND CONDITIONS. DO NOT USE ANY OF OUR SERVICES IF YOU DO NOT ACCEPT THESE TERMS AND CONDITIONS. THESE TERMS AND CONDITIONS ARE A LEGALLY BINDING AGREEMENT AND IT IS IMPORTANT THAT YOU TAKE THE TIME TO READ THEM CAREFULLY.
2.- Definitions
The following terms used throughout these Terms and Conditions shall have the meaning and scope indicated below:
“Applicable Data Protection Laws” means the regulation referred in first paragraph of Section 11;
“Beneficiary” means a person intended to receive funds from a Sender, who is a natural person and acceptable to us and who receives the money transfer via a designated Paying Provider, by bank transfer to the bank account of such designated individual or via our home delivery service (where applicable);
"Business Day" means a day on which the relevant payment service provider of the Sender or the payment service provider of the Beneficiary involved in the execution of a Payment Transaction is open for business as required for the execution of a Payment Transaction;
“Customer” means, when RIA is acting as the payment service provider and in the context of a "consumer", a Sender, a Beneficiary or both, who acts for purposes unrelated to his gainful or professional activity;
“Day of Receipt” means the day in which the Individual Payment Order is deemed to have been received as referred in Section 8.1., first paragraph, below;
"EEA" means the European Economic Area;
“Effective Date” shall have the meaning given to it in third paragraph of Section 3 of these Terms and Conditions;
“Funds” means (i) in the context of receiving money from the Sender, the amount received by RIA including any applicable fees and costs for a Payment Transaction; and (ii) in the context of making money available to the Beneficiary, the funds received from the Sender to be paid out to the Beneficiary less any applicable fees and costs;
“IBAN” shall refer to the International Bank Account Number as defined in Section 5, paragraph (iv) below;
“Individual Payment Orders” shall have the meaning given to it in second paragraph of Section 1 above;
“Money Remittance” means a payment service that allows funds to be received from a Sender without creating a payment account in the name of the Sender or the Beneficiary, for the sole purpose of transferring an equivalent amount to a Beneficiary or to another payment service provider that acts on behalf of the Beneficiary;
"Paying Provider" means us, an individual or a legal entity acting as a third-party provider of payment services or an agent acting on our behalf who pays out a Payment Transaction initiated by the Sender to a Beneficiary in the destination country identified by the Sender;
“Payment Services Act” shall have the meaning given to it in second paragraph of Section 1 above;
“Payment Transaction” means an action, initiated by the Sender or by the Beneficiary, as the case may be, consisting of placing, transferring or withdrawing Funds, irrespective of any underlying obligations between the two;
“RIA”, “we” or “us” means the term referred to in first paragraph of Section 1 above;
“Sender” means a person who gives an Individual Payment Order for the payment of Funds to a Beneficiary;
“Staged Sending Service” means the service at Customers´ disposal as further explained in Section 8.5 below;
“Terms and Conditions” means the set of rules established in this document and any other documents annexed or incorporated by reference; and
“Transaction Details” shall have the meaning given to it in fifth paragraph of Section 8.1 of these Terms and Conditions.
3.- Scope of application and Changes
These Terms and Conditions apply to the following payment services that are provided in the territory of Estonia:
· Money Remittance.
We may amend these Terms and Conditions from time to time in order to comply with changes in the law or regulatory requirements or due to changes in market conditions.
If we make any change to these Terms and Conditions, we will do so by email and/or by placing the revised version of these Terms and Conditions on the same website in which they are hosted and by that in a durable medium. We will also inform you of the date from which any change is to take effect (the “Effective Date”).
Changes that we make to these Terms and Conditions will normally only apply to Individual Payment Orders placed after the Effective Date but will also apply to Individual Payment Orders placed before the Effective Date where we are required to make them do so by law or regulatory requirements. In any event, and for the avoidance of doubt, the updated version of these Terms and Conditions shall supersede any previous version.
4.- Actions of the Customers
When contracting any product or service associated with Payment Transactions, the Customer shall be considered a “consumer” as provided by applicable regulations.
Our obligations under these Terms and Conditions are conditional upon our acceptance of you as a Customer, which is at our sole discretion and we reserve the right to decline to provide the payment services to you without specifying a reason. You must promptly provide all information and documentation which we may request from you at any time to enable us to comply with any legal requirements relating to the payment services, including as required by anti-money laundering and anti-terrorist financing regulations, and you consent to us contacting you for these purposes.
5.- Information obligations prior to the execution of a Payment Transaction
The Sender and Beneficiary must provide RIA with the information and documentation determined by RIA from time to time, that may include without limitation the following:
(i) Full name, surnames, Identity document and other details identifying the Sender and the Beneficiary;
(ii) destination country of the Payment Transaction;
(iii) amount and currency of the Payment Transaction;
(iv) in case of a Payment Transaction to a Beneficiary’s bank account, the International Bank Account Number (“IBAN”) when such bank account has an IBAN code, or the bank account number as corresponds in each case.
(v) Depending on the destination country:
o Type of relationship with the Beneficiary;
o Proof of Funds ;
o Transfer reason; and/or
o Any other information that we might request for a transfer to that specific country from time to time; and
(vi) Any other information or documentation evidencing such information on the Sender and/or the Beneficiary that we may request from time to time.
The Sender declares he/she acts in his/her own behalf and he/she is the owner of the Funds.
RIA may require Sender and Beneficiary additional information as it may be deemed necessary from time to time at its sole discretion for the correct performance of the Money Remittance or compliance with applicable laws and regulations.
The Sender undertakes to verify the accuracy and integrity of the data relating to the Payment Transactions when it orders RIA to perform Money Remittance services described in Section 3 of these Terms and Conditions, especially as regards the identification details of the Beneficiary and the economic terms of the receipt for an Individual Payment Order that will have a unique number for future tracking. Such Individual Payment Order, together with the receipt and these Terms and Conditions, forms, for the purposes of the Payments Act and other relevant local legislation, the individual contract that will govern that Payment Transaction.
When a Payment Transaction is executed in accordance with an Individual Payment Order, it will be considered to have been correctly executed in relation to the specified Beneficiary. Therefore, should any of the data provided by the Sender be incorrect for reasons attributable to the Sender, RIA will not be responsible for the non-execution or defective execution of the Payment Transaction. For clarification purposes, the Sender shall not be responsible for any incorrect data originated because of RIA´s fault.
If a Payment Transaction is executed in accordance with the unique identifier of the Beneficiary, it shall be deemed to have been executed correctly with regard to the Beneficiary specified by that unique identifier (even if the Customer provides information in addition to the unique identifier). If the unique identifier provided to RIA is incorrect, the payment service provider shall not be liable for non-execution or defective execution of the Payment Transaction. RIA shall make reasonable efforts to recover the Funds involved in the Payment Transaction executed in accordance with an incorrect unique identifier provided by the Customer.
In accordance with applicable laws and regulations, for each Payment Transaction, RIA may request a valid identification document and store copies of such identification documents of the Customers in optical, magnetic or electronic format to guarantee their integrity, the correct reading of the data, the impossibility of their manipulation and their adequate conservation and localisation.
RIA may request at any time for the amount of the Payment Transaction to be credited into a bank account held by RIA.
Furthermore, enhanced due diligence measures for the identification and better knowledge of the Customers will be adopted in accordance with local law requirements, as well as if the amount of a Payment Transaction, either individually or accumulated over a certain period,