Terms & Conditions
1. Definitions
1.1. Account – a corporate or private account opened with Perlaidos by the customer
1.2. Business Day – any day, set by Perlaidos, when the latter provides services to its customers. The notion may vary depending on the particular service.
1.3. Customer – a private or business entity that has an account with Perlaidos and is being provided services by the latter.
1.4. Payment Operation – a transfer of funds, payment or withdrawal executed with-in the Perlaidos system.
1.5. Payment Service:
– execution of payment transactions, including transfers of funds on a payment ac-count;
– execution of payment transactions via a payment card or a similar device;
– money remittance;
– services that result into the placement of cash on a payment account;
– the services necessary for a payment account to operate;
– services that allow cash withdrawal.
1.6. System – a software development that is integrated on Perlaidos website in order to enable the provision of payment services to the customers.
1.7. Party – Perlaidos or the Customer, together known as Parties.
2. Services
2.1. Perlaidos provides the following range of services to its customers:
a) private and corporate account opening;
b) incoming and outgoing transfers in the SEPA system;
c) SWIFT payments;
d) cards acquisition;
e) card payments and cash withdrawal via ATM.
3. Registration in Perlaidos System
3.1. Before a Customer is able to use the Perlaidos system and the services that Perlaidos provides, he must go through the account opening process. Perlaidos pro-vides an opportunity for the procedure to be completed remotely.
3.2. The Customer takes on the responsibility to maintain the acquired login creden-tials secure and safe from unauthorized third party access.
3.3. The Customer takes on the responsibility to maintain the card and account de-tails secure and safe from unauthorized third party access.
3.4. During the account opening procedure, the Customer is responsible for provid-ing valid and accurate data about his/her persona. Should any changes in this data take place, the Customer must inform Perlaidos immediately, no later than within 1 Business Day.
3.5. Perlaidos reserves the right to request any additional information and/or docu-ments that contain data on the Customers operations at any point. In case the re-quested additional information and/or documents are not provided, Perlaidos reserves the right to cease the registration process.
4. Payment Services and Account Opening
4.1. A Perlaidos account gives the Customer an opportunity to deposit, transfer, store funds on the Account for further execution of local and international money trans-fers and payments.
4.2. Funds stored on the Customer’s Account are considered Electronic Money, is-sued by Perlaidos upon the reception of a transfer or deposit of funds to the Account, at the nominal value.
4.3. The way funds are deposited/ transferred to the Customer’s Account is chosen by the Customer.
4.4. The nominal value of Electronic Money is identical to the value of money de-posited/ transferred to the Account, after the relevant commission fee is deducted (if applicable).
4.5. Electronic Money of Customer, stored on his/ her Account, may be redeemed at the nominal value at any time upon request. Exceptions: any relevant cases outlaid in these Terms.
4.6. The redemption of Customer’s Electronic Money takes place through a Pay-ment Order to transfer the Electronic Money from the respective Perlaidos Account to any other account indicated by the Customer. The Electronic Money may also be withdrawn from the Perlaidos Account through any other method, supported by the Perlaidos System. Limitations on withdrawal and redemption may be applied on valid Perlaidos considerations.
4.7. In the case that a Customer terminates the current General Terms and Agree-ments, and his/ her Perlaidos Account is to be closed and deleted from the System, or Perlaidos terminates the provision of Services, funds stored on the Customer’s Ac-count shall be transferred to the bank account or to the account within other elec-tronic payment system specified by the Customer. Perlaidos reserves the right to first deduct the funds that belong to Perlaidos, such as fees or any amounts unpaid by the Customer. Should a dispute between Perlaidos and the Customer occur, Perlaidos re-serves the right to detain funds on the Customer’s Account until the dispute is re-solved.
4.8. Perlaidos reserves the right to reject the opening of an account and to close an account without providing a reason.
5. Account Use
5.1. The Customer may manage the Account online by logging in to his/her Online Account with the relevant credentials or via the Application.
5.2. The Customer may execute Payment Transfers from his/ her Account:
5.2.1. to another user of the System;
5.2.2. to international bank accounts (except for banks in foreign countries to which the Payment Transfers are forbidden);
5.2.3. to accounts in other electronic payment systems, as provided by the System;
5.2.4. to other debit and credit cards using card to card payment services.
5.3. Fees may be applied by a bank or another electronic money transfer system for the performed operations.
5.4. Fees for the Services provided by Perlaidos are deducted from the Customer’s Account within the system. Should the amount of funds on the Account be less than the amount of the fee and/ or the price of the Perlaidos Service, the Payment Transfer execution will be suspended.
5.4.1. In case the Customer inserts incorrect data of the recipient, such as wrong account number, and the Payment Order is executed with consideration of the pro-vided data, Perlaidos shall not bear any obligations to repay the amount as it shall be considered that Perlaidos has fulfilled its obligations properly. The entire responsibil-ity for returning the funds is reserved to the Customer.
5.5. The Payment Order details may be corrected by the Customer if it has not yet been executed.
5.6. In case it is impossible to execute the Payment Order and credit funds to the re-cipient, due to Customer’s errors, the funds may be retuned if it is possible to do so in technical terms.
5.7. In case the Customer notices that funds have been credited to his/ her Account by mistake, the Customer is obliged to inform Perlaidos about the mistake immediate-ly, no later than within 1 Business Day. If the amount of funds on the Account is insufficient, the Customer is obliged to repay the debt within the following three Business Days after the reception of such request from Perlaidos.
5.8. The Customer has an opportunity to check the Account balance and transac-tions history by logging in to the Perlaidos system. All the information concerning the fees deducted may also be found there.
5.9. Perlaidos may refuse the execution of a Payment Order in case of reasonable suspicions that it was submitted by the Customer or his/ her authorized representa-tive, and that the attached documents are legitimate. Perlaidos bears no responsibility for the losses caused by the suspension of Payment Order execution, and is acting with the aim to protect the legal interests of the Customer.
5.10. Prior to Payment Order execution, Perlaidos has the right to request any docu-ments that prove the legal source of money related to the Payment Order, and if such documents are not provided – to suspend the execution of the Payment Order.
5.11. The Customer shall be immediately notified about the suspension of his/ her Payment Order execution, unless otherwise required by relevant legislation.
5.12. The personal data of the Customer may be transferred to individuals and third parties directly related to the execution of a Payment Operation.
5.13. In the case of Customer’s death, the relevant Perlaidos Account is closed and the funds are transferred to the account specified by the successor, within the rele-vant legal framework.
5.14. Relevant fees are charged in the case of Account closure.
6. Fees
6.1. All the relevant Fees are listed on the Perlaidos website and are considered part of these Terms and Conditions. Perlaidos reserves the right to add changes and make updates of the Fees, with a prior notification to the Customer.
6.2. The Customer confirms that he/ she has carefully read and is familiar with the Fees that are applied to and relevant to the Customer.
6.3. Fees that are to be paid by the Customer will be deducted from the Account balance.
6.4. All of the fees are non-refundable.
7. Prohibited actions
7.1. The Customer is prohibited to:
7.1.1. violate the rights of Perlaidos to trademarks, copyrights, commercial secrets and other intellectual property rights;
7.1.2. provide false, misleading or incorrect information;
7.1.3. refuse to provide information requested by Perlaidos;
7.1.4. operate with funds acquired in illegal manner;
7.1.5. refuse to cooperate with Perlaidos in investigation of legal violations and viola-tions of the present Terms and Conditions;
7.1.6. deploy any measures, which could result into System malfunctions, damage or destruction caused to the information, systems, equipment;
7.1.7. initiate illegal gambling, trade of guns, drugs, prescription medicine, steroids, pornographic production, unlicensed lottery, illegal trade of software or other prod-ucts or services prohibited by the law;
7.1.8. provide services that are illegal or conflict the public order and/ or good mor-als.
8. Communication
8.1. All communication between the Customer and Perlaidos will further be performed in the language in which the agreement on the services provision was concluded between the Customer and Perlaidos.
8.2. The Customer takes the responsibility to provide a valid telephone number, an email address and further contact information during the Account opening proce-dure, for the purpose of future communication. This data must be accurate and up to date. If any changes to this data take place, the Customer must notify Perlaidos within 5 Business Days.
8.3. The Customer confirms that he/ she has a constant access to Internet and agrees to receive non-confidential and/ or not personally addressed information from Perlaidos that will be published on the relevant website.
8.4. Perlaidos has the right to change and update the information on its website at any time. Perlaidos has no obligation to inform the Customer about such changes and updates.
9. Data protection
9.1. For Perlaidos increased data privacy is one of the to priorities, which means that strict rules of confidentiality about current and former Customers are in place. Perlaidos puts all the reasonable efforts to protect the security of every piece of informa-tion received from the Customer and stored within the system, in compliance with the applicable legislation. No information about the Customer is disclosed to any-one aside from cases when it is authorized by the Customer or required so by active law.
9.2. Telephone conversations between Customers and Perlaidos employees may be recorded and monitored solely for the sake of improving the level o services, as well as verification and training purposes.
9.3. Any Information transmitted over the Internet is always at risk, so is the infor-mation sent over through the Perlaidos website. Customers bear full responsibility for the consequences of such transmission.
9.4. Perlaidos is required by law to store the Customer’s personal information and the history of transactions. The closure of an account does not result into deletion of such information, unless there was a justified request to do so from the Customer.
10. Changes to Terms and Conditions and Termination of the Agreement
10.1. These Terms and Conditions may be subject to changes at any time, in order to:
10.1.1. reflect new business, legal and other updates or developments that have a direct relation and influence on Perlaidos;
10.1.2. make the Terms and Conditions more comprehensive and clear for the Cus-tomers and correct any mistakes, if such are detected;
10.1.3. ensure reasonable and competitive business operations;
10.1.4. reflect the changes in market conditions, banking practices or cost of ser-vices.
10.2. In case such changes occur, the Customer shall be notified by Perlaidos no lat-er than 30 (thirty) Business Days prior the implementation of the changes.
10.3. The agreement with Perlaidos may be terminated with a written termination no-tice in case the Customer does not agree with the changes that have been or are to be made. The notice must be issued at least three Business Days prior to the de-sired termination date.
10.4. Perlaidos is not responsible for informing the Customer concerning the potential changes in case:
10.4.1. the Terms and Conditions were updated due to changes in legislation;
10.4.2. the changes put the Customer in a more favorable position;
10.4.3. the agreement between Perlaidos and the Customer is about to be terminated.
10.5. Perlaidos reserves the right to terminate services provision to the Customer, along with all the respective agreements, in case:
10.5.1. the Customer ignores the payment amount due;
10.5.2. the Customer is justifiably suspected of breaching the active legislation of any jurisdiction;
10.5.3. Perlaidos believes that the Customer no longer meets any of the relevant Perlaidos requirements concerning Customer profile.
11. Suspensions of services
11.1. Perlaidos, at its own discretion, may unilaterally and without a prior notice do any of the following:
11.1.1. terminate the execution of Services;
11.1.2. limit the access of the Customer to the Account;
11.1.3. refuse to provide Services.
11.2. The provisions of the Clause 11.1 may be put into force in case:
11.2.1. any of the provisions or clauses of these Terms and Conditions are breached by the Customer, or the Customer is suspected of such breaches;
11.2.2. at the reputation of Perlaidos is damaged or threatened by the actions of the Customer, or the latter have resulted into losses, monetary sanctions or other nega-tive consequences for Perlaidos;
11.2.3. it is required so by the applicable legislation;
11.2.4. Perlaidos is informed of the Customer’s death, bankruptcy or insolvency;
11.2.5. the Customer has exhibited negative behavior towards any of the Perlaidos employees;
11.2.6. the use of the Account raises reasonable doubts and/ or suspicions;
11.2.7. the Account has never been used, or there has not been any activity on it for a lengthy period of time.
11.3. Should any of the measures from the Clause 11.1 take place, Perlaidos shall inform the Customer immediately and provide all the information necessary con-cerning the redemption of the funds.
11.4. Upon the termination of the concluded agreements between the Customer and Perlaidos, the Customer shall choose a method for redemption of his/ her Elec-tronic Money. In case no particular method is chosen, Perlaidos may redeem the funds, using the method available at the time.
11.5. The provision of Services to the Customer may be terminated without any pri-or notice in case the validity of the authorization of the Customer’s representative has expired or cancelled and no information concerning its renewal was received.
12. Liability of the Parties
12.1. Each Party is responsible and bears full liability for all fines, forfeits and other losses which the other Party incurs, as a result of a breach or violation of the Terms and Conditions, other internal rules and/ or agreements concluded by the guilty Party. The latter shall reimburse any direct damage resulted from such liability to the affected Party.
In all cases, the liability of Perlaidos shall be limited by the following provisions:
12.1.1. Perlaidos may only be considered liable for direct damages caused by direct violation of the Terms and Conditions committed by Perlaidos, and only for those that could have been foreseen by Perlaidos at the time of violation;
12.1.2. Perlaidos shall by no means be held liable for non-receipt of profit or income by the Customer, loss or damage to his/ her reputation and/ or business.
12.2. Perlaidos cannot guarantee uninterrupted operation of the System, as it de-pends on a range of factors that cannot be controlled or influenced by Perlaidos. Perlaidos shall not be liable for any damages or losses that are incurred in result of System disorders or temporary limitations of access to the System (that may take place due to repairs, development works, updates etc. after the issuance of a prior notice to the Customer), yet is committed to put all efforts into preventing and miti-gating such cases.
12.3. The Customer bears full liability for the correctness and validity of data, orders and documents submitted to Perlaidos.
12.4. The Customer bears full liability for the losses incurred in result of unauthor-ized Payment Operations, where the Customer was acting dishonestly and failed to comply with the applicable laws and relevant requirements.
12.5. In case Perlaidos has suffered losses, fines or legal costs, due to the Custom-er’s actions, it has the right to debit the funds from the Customer’s Account, and ini-tiate a court proceeding in case the funds on the Account are not sufficient.
12.6. The Party is free from the liability for failure to comply with the Terms and Conditions and/ or other internal rules and/ or agreements concluded, in case a val-id proof is provided that obligations have not been executed due to circumstances of force majeure, ten calendar days after such circumstances have occurred.
12.7. The Customer remains liable for the payment of taxes (or any state duties) in the jurisdiction of the Customer’s tax residency.
13. Concluding provisions
13.1. The current Terms and Conditions shall be governed by and interpreted in ac-cordance with the applicable legislation of the relevant jurisdiction.
13.2. In case any provision or clause of these Terms and Conditions is proven inva-lid, unlawful or unenforceable, the remaining part of the Terms and Conditions con-tinues to be valid and binding for both Parties.