Paynines Operations SRL is registered under Romanian Law and currently owned and managed by its founders and managers. We intend to raise equity capital, so we might have in future in our shareholding structure foreign investors. We intend to provide similar services in other countries in Europe and out of Europe, under the same “paynines” brand.
We can be contacted at office@paynines.com
We are a payment company operating under PSD2 (“Payment Service Directive 2”).
We provide Markeyting Analytics services to Retailers and Producers, processing payments data along cash register bills, allowing to consumer to know via his mobile aplication WHAT, WHEN, QUANTITY, PRICE, WHERE FROM has done his purchases. And much more.
Management team
CEO, Titus Grecescu, is an over 20 year professional in payments and banking services.
CIO, Alexandru Cociu, is an over 10 years professional in IT banking sector, founder of various companies supporting banks for their IT needs.
Chief Development Officer, Marius Mardale, is an over 10 years professional in business analyses and software development for banks.
Terms & Conditions
Contents
- Why this information is important
- Can I open a browser based / application based Account?
- My browser based / application based account
- How to make a withdrawal from my account?
- How is my money protected?
- Keeping your security details safe.
- Are there any restrictions on using the paynines.com app?
- When we might prevent you from using your paynines Account?
- When could you suspend or close my Account?
- Are we responsible if something goes wrong with your Account or the Paynines Operations SRL app?
- Our right to withdraw money from your Account in exceptional cases
- When you might be responsible for our losses?
- How do I get information about transactions for my Account?
- Confidentiality
- Our intellectual property
- How to make a complaint?
- We can change these Terms and Conditions
- Pricing Section
- How do I close my Account?
- Legal bits and pieces
- Our contract with you
- Our right to transfer and assign
- Romanian laws applies
- Place of conclusion of this agreement
- The English version of the agreement applies
- Our right to enforce the agreement
- Taking legal action against us
- What happens if I send money or make a payment?
- What happens if I make a currency conversion?
- What does my account balance and transaction history show?
- Paynines Operations SRL program
- What type of account is my Paynines Operations SRL Account?
- Can I open a Paynines Operations SRL account?
- How do I get information on payments into and out of my account?
- What happens after my account is closed?
- How do I get access to my money after my account has closed?
- Keeping your security details and Paynines Operations SRL app safe
- Payment limits
- Transferring money between Paynines Operations SRL accounts
- Making purchases using Pay button with paynines
- Making other types of payments
- What happens if a payment was sent to the wrong account, wasn’t sent at all or was delayed?
- What we’ll do if we, or someone else, has made a mistake?
- Send and receive money using a payment link
- What exchange rate do you use?
- How long does it take to make a payment?
- When we will refuse or delay a payment
- Third-party fees for making or receiving payments
- What happens if someone steals from my account?
- When we might block your account ?
- Are you responsible if something goes wrong with my account, my Paynines Operations SRL account or the Paynines Operations SRL app?
- How you might owe us money
- When you might be responsible for our losses
1. Why this information is important?
This document sets out the terms and conditions of your bank account operations under Paymenst Service Directive 2 (PSD2) regime and its related services. It also sets out other important things that you need to know.
This document containing the terms and conditions that apply to our services forms a legal agreement between:
you, the service user, and us,
Paynines Operations SRL.
This agreement is indefinite, as long as you use our application. It means that it is valid until you or we end it.
You agree that these Terms and Conditions and any other communications between us will be in English. We will try our best to respond to you in your preferred language, but we reserve the right to respond in English.
Paynines Operations SRL is a specialized PSD2 platform incorporated and licensed in Romania with company number CUI 46135979 and Trade Registry Number J40/9229/2022 and whose registered office is at Soseaua Mihai Bravu, 255, Modul S091, Post Code 030302, Sector 3, Bucharest, Romania. We are licensed and regulated indirectly by the National Bank of Romania under PSD2 regime and operate under our licensed partner Smart Fintech SRL.
2. Can I open a browser based / application based Account?
By accepting these Terms & Conditions you confirm that: You are a customer of Paynines Operations SRL.
You have received by email a link to read and understood these Terms & Conditions,
You have read, understood and accepted the Paynines Operations SRL Policies, and
You have provided correct and accurate contact information (including an email address that you check regularly) during the onboarding process.
3. When you ask us to open an Account, we or our representatives will ask for information about you?
We do this for a number of reasons, including to check your identity, and to meet our legal and regulatory requirements. When we have the information we need, we will open your Account, and you can make operations on it. If you have already provided this information to Paynines Operations SRL you acknowledge and agree that we may use and rely on that information for this purpose and making discounts to various products and services you may pay through our platform.
Our GDPR procedures explains how we use your information for these and other purposes, and we’ll use that information only upon your confirmation, once you use our services.
We can only provide services to you once you have passed our internal checks, and not before. We will notify you via the Paynines Operations SRL platform once this has happened and will let you know once your Account is opened.
You can see your Account details in the account section.
If any of your personal details change, you must notify us immediately.
When we refer to “email” we mean the email you provided to us during the onboarding process (unless you updated your email afterwards). It’s important that you provide your primary email address and check it regularly. Should your email address change or should you have any trouble receiving or opening emails from us, you must notify us immediately. Otherwise, you agree that if an email has been delivered to your email address, you should have read it, even if you failed to do so for whatever reason.
My browser based / application based account
We do not accept or keep your money or hold it for you. All your money are saved and kept in your banking account, we only process smartly your payments instructions, either the credit or debit ones (money coming into your account or living from your account per your order).
Paynines Operations SRL is authorized to provide payment services under PSD2 regime.
4. How to make a withdrawal from my account?
Payments requests can be made by you at any time and in any amounts not exceeding the available balance, kept in your banking account and passing other security measures you or your bank previously agreed.
You further confirm to us that you have properly instructed Paynines Operations SRL to allow you to make charge requests from your account and to treat any such charge request as your authorization to return the requested amount from your Account, if there will be in future any charges, as currently there are not any.
5. How is my money protected?
Your money is protected once it reaches your account opened within another credit institution which is a participant under PSD2 regime. Your money will be credited to your account as soon as possible after it arrives the payment messages and, in any case, no later than the intra-banking payment infrastructure works according with applicable national intra-banking payments regime.
For example, if you’re adding/transferring money to/from your account not on a business day your money will be protected by the Deposit Insurance Scheme of your bank until it reaches your account or payee account opened within another credit institution which is a participant of the Deposit Insurance Scheme and PSD2 regime. Nevertheless, your money will be protected in other ways as prescribed by laws.
The money in your banking account is protected by Romanian deposit insurance administered by the State Company Deposit and Investment Insurance (,,Fondul de Garantre a Depozitelor Bancare”, see https://www.fgdb.ro/ ) in accordance with the conditions established by the Law on Insurance of Deposits and Liabilities to Investors of the Romania which are available here. There are no additional mechanisms (we call them “guarantee funds”) under these Terms and Conditions that protect your money in your Account.
6. Keeping your security details safe
We do everything we can to keep your money safe. We ask you to do the same by keeping your security details safe. This means you should make sure they are kept secure, not accessible to other people, and not shared with anyone else.
Sometimes it’s easy to forget to take the steps you should take to keep your money safe. Here are a couple of tips:
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- make sure you don’t leave the Paynines Operations SRL app open on an unlocked device; and
- keep your mobile device and your email account secure and don’t let other people use them.
Contact us through the Paynines Operations SRL app as soon as possible if your security details could be used without your permission.
You can contact us at the office@paynines.com .
Our website: www.paynines.com
7. Are there any restrictions on using the paynines.com app?
The maximum transaction limit is Euro 10.000 equivalent, besides other security limits applied by your bank.
Please act reasonably and responsibly when using the Paynines Operations SRL app.
The Paynines Operations SRL app must not be used (directly or indirectly) as follows:
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- for illegal purposes (for example, committing fraud);
- in a way that might harm our ability to provide our services;
- to control or use an Account that’s not yours;
- to allow anyone else to have access to or use Account or the Paynines Operations SRL app;
Please also act in a respectful way towards us and our support staff – we’re here to help you.
8. When we might prevent you from using your paynines Account?
The safety of your money is important to us, therefore we can prevent you from using your Account.
We might also have to prevent you from using your paynines Account to meet our legal obligations arising from the laws of Romania, EU and USA.
We’ll tell you through the app before, or as soon as possible after, we have limited the use of your Account. We’ll also let you know why we’ve done it (unless it would reduce your or our security or it would be unlawful). We will let you use your Account normally as soon as the reasons for the limit no longer exist.
9. When could you suspend or close my Account?
We may close or suspend your paynines Account immediately (including the access to the services provided by the other Paynines Operations SRL entities) and end your access to the paynines app, in exceptional circumstances. Exceptional circumstances include the following:
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- if we have good reason to suspect that you are behaving fraudulently or otherwise criminally;
- if you’ve broken these Terms in a serious or persistent way and you haven’t put the matter right within a reasonable time of us asking you to;
- if we have information that your use of the paynines app is harmful to us or our software, systems or hardware, or our reputation or goodwill;
- if you’ve been declared bankrupt;
- if you die or a declaratory judgement of your death is pronounced; or
- if we have to do so under any law, regulation, court order or ombudsman’s instructions.
Upon closing your Account, any remaining balance will be kept in your banking account and any transactions previously authorized by you or other payers to you will be processed accordingly.
10. Are we responsible if something goes wrong with your Account or the Paynines Operations SRL app?
We’ll do as much as reasonably possible to make sure that our services are not interrupted and are accessible at a reasonable speed. However, we can’t promise that this will always be the case or that the services will be free from faults. We also rely on some third parties to provide services to you, which can disrupt our services. We’ll always do our best to solve any problems with our services, no matter what the cause.
We will not be responsible for losses resulting from us failing to meet our obligations to timely credit into your banking account incoming money or debit from your banking account money being withdrawn because:
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- of a legal or regulatory requirement; or
- unforeseeable events outside our control, which were unavoidable at the time;
- of criminal or any other illegal actions of third parties resulting in damage to you or any other person (unless specified in these terms and conditions directly); or
- of the blocking of your Account when implementing legal requirements, including those in relation to anti-money laundering and counter-terrorist financing.
We will only be responsible for foreseeable losses.
If we break this agreement, we will be responsible for any loss that we could have foreseen at the time we entered into the agreement, also for the loss that results from our fraud or gross negligence.
We won’t be responsible to you for any of the following, whether direct or indirect, that arises in connection with this agreement:
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- loss of income or profit;
- loss of goodwill or damage to your reputation;
- loss of business contracts or opportunities;
- loss of anticipated savings; or
- consequential loss.
Nothing in this agreement removes or limits our liability for death or personal injury resulting from our negligence or from fraud or fraudulent claims and statements.
11. Our right to withdraw money from your Account in exceptional cases
We have a right to withdraw money from your Account without your instruction in the following cases:
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- if money was transferred to your Account without any legal basis (i.e. due to fraud, mistakes or technical errors);
- when we, as a service provider, are required by applicable laws, to withhold and pay to competent authorities taxes that apply to you in your capacity as a depositor; or
- in other cases, as established by Romanian laws and other applicable legislation.
12. When you might be responsible for our losses?
You may be responsible to us for certain losses.
If you have broken this agreement and this has caused us to suffer a loss, the following will apply:
-
- you will be responsible for any foreseeable losses we suffer as a result of your action (we will try to keep the losses to a minimum); and
- you will also be responsible for any reasonable legal costs that arise as a result of our losses.
13. How do I get information about transactions for my Account?
You can check all Account inflows and outflows through the Paynines Operations SRL app. We will store your Account information while you are a customer and for 8 years after you close your Account. If you need to keep a copy of the information after then, you will need to download it. You can download information from the Paynines Operations SRL app while you are a customer or, if your Account is closed, you can contact us at office@paynines.com and we will provide you with such information.
You will receive a notification to your mobile device each time a deposit is placed into or withdrawn out of your Account. You can turn off these notifications, through the Paynines Operations SRL app or in your device’s settings, at any time. If you turn off notifications, you should regularly check your Account information on the Paynines Operations SRL app. It’s important that you know what amounts go into and out of your Account, so we recommend that you do not turn off notifications.
Communicating with you
We’ll communicate with you through the Paynines Operations SRL app. Other Paynines Operations SRL group entities may also communicate with you via the Paynines Operations SRL app if this is agreed with you and that entity.
This is how we will provide Account information and tell you about any fraud, or suspected fraud, relating to your Account. It is also how we will tell you if there is a security threat to your Account. Make sure you regularly check the Paynines Operations SRL app for this information.
To help keep your Account safe, download the latest software for your mobile device and the latest version of the Paynines Operations SRL app as soon as they are available.
We may also communicate with you by text message (SMS) or email, so you should regularly check your text messages and email account.
Your consents, approvals, acceptances and other statements given using the Paynines Operations SRL app shall have the same legal validity as your signature on a written document. Your agreements concluded with us via the Paynines Operations SRL app shall be deemed to be written agreements concluded between you and us. Any instructions to us for conducting operations and other actions submitted/executed from you through the Paynines Operations SRL app will be treated as submitted/executed by you and valid as actions performed by you.
We will usually communicate with you in English.
Keep us in the loop
Please keep your details up to date and let us know immediately if any information you’ve given us changes. If we discover that any of your information is incorrect, we may update it or ask you to provide further information.
To meet our legal and regulatory requirements we might need to ask for more information about you (for example, if your deposit inflow or outflow increases). Please provide this information quickly so that disruption to your Account or our services is minimized.
14. Confidentiality
You understand and consent that due to the nature of the Paynines Operations SRL services under this agreement, we may be required to disclose the following information about you:
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- the fact that you are our customer;
- the services being provided to you;
- your Account number;
- the balances available in your Account;
- operations performed or being performed on your behalf;
- your debt obligations towards us; the circumstances of us providing financial services to you;
- the terms and conditions of the agreements on the basis of which we provide you with services;
- the fact of the termination of this agreement and of the closing of your Account;
- your financial situation and assets; and
- your activities, plans, debt obligations to or transactions with other persons or legal entities.
Your commercial or professional secrets are all treated as confidential information (i.e. as a client secret or bank secret).
You understand and consent that the people we may disclose that information to are:
Any affiliate of Paynines Operations SRL. This includes, but is not limited to, Paynines Operations SRL or other group related companies might appear in future
Paynines Operations SRL’s representatives and other parties directly or indirectly involved in the provision of Paynines Operations SRL services under this agreement to you or in the preparation of the provision of such service to you, and their subcontractors (for example, correspondent banks, financial institutions, insurance companies, financial intermediaries, brokers, participants of, or parties to, payment, clearing or settlement systems, exchanges and other) if, due to the specifics of such services, it is necessary to disclose such data.
Third parties that provide services to Paynines Operations SRL(supplementing the provision of our financial services), and subcontractors of such third parties, provided that third parties and their subcontractors were engaged in compliance with all regulatory requirements applicable to such outsourcing.
During the communication and exchange of information between you and us by means of telecommunications or electronic communication, confidential information (including information constituting client secrets or bank secrets) may become available to third parties without our will or knowledge. If this happens, we are not liable for any such disclosure of the information and you shall assess this risk prior to entering into this agreement with us.
Required disclosures of information
We will disclose your information where required or permitted to do so by Romanian laws and other applicable legislation or to exercise or enforce our rights, or the rights of our customers.
15. Our intellectual property
All the intellectual property in our products (for example, the content in Paynines Operations SRL app and on our website, our logo) is owned by Paynines Operations SRL and is being used by us and other Paynines Operations SRL group companies. You must not use this intellectual property as your own, except to enjoy our products. You also must not reverse-engineer any of our products (that is, reproduce them after a detailed examination of their construction or composition).
16. How to make a complaint?
If you’re unhappy with our service, we’ll try to put things right.
We always do our best, but we realize that things sometimes go wrong. If you have a complaint, please contact us at office@paynines.com . We will accept and consider any complaint sent by you to us. Our final response to your complaint, or a letter explaining why the final response has not been completed, will be provided to you within 15 business days after your complaint has been made, and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).
Out of court dispute resolution authority for complaints related to financial services.
If you are unhappy with how we have dealt with your complaint, you can refer it to the National Bank of Romania within 1 year of the date you sent us your complaint. In this case the National Bank of Romania will act as an out of court dispute resolution authority dealing with disputes between consumers and financial service providers.
You can find more information on their website, www.bnr.ro .
Please note that should you wish to have a possibility to apply to the National Bank of Romania as to the out of court dispute resolution authority, then you shall make your complaint to us within 3 (three) months from the day that you found out or should have found out about the alleged violation of your rights or legitimate interests arising from the agreement with us. You also have the right to apply to any competent court if you think we have breached the law. You can also file a complaint to the respective out-of-court dispute resolution authorities that handle consumers’ complaints in your country in relation to the financial services provided by us. The list of such authorities can be found here.
Examination of the complaint at the National Bank of Romania is free of charge.
The out of court dispute resolution authority for consumer disputes not related to National Bank of Romania competences is the State Consumer Rights Protection Authority.
You can find more information on their website. You can also rely on the mandatory consumer protection rules of the EEA country where you live.
Out of court dispute resolution authority for complaints related to the processing of personal data
You have the right to make a complaint to the State Data Protection Inspectorate, the Romanian supervisory authority for data protection issues (Autoritatea Naţională de Supraveghere a Prelucrării Datelor cu Caracter Personal, https://www.dataprotection.ro/) .
You can find more information on their website.
More information
If you’d just like to speak to someone about an issue that is concerning you, please contact us through the Paynines Operations SRL app. We can usually settle matters quickly.
If you prefer, you can make a complaint. You can also do this through the Paynines Operations SRL app, or by emailing us at office@paynines.com.
To make a complaint, you’ll need to tell us:
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- your name and surname;
- the phone number and email address associated with your Account;
- what the issue is;
- when the problem arose; and
- how you’d like us to put the matter right.
We’ll look into your complaint and respond to you by email. We will communicate with you in English unless we tell you otherwise.
Irrespective of the above, you always have the right to approach the out of court dispute resolution authorities mentioned above in relation to any complaint about our service. You also have the right to apply to any competent court (in accordance with this agreement) if you think we have breached the law.
17. We can change these Terms and Conditions
We’ll only change the agreement for the following reasons:
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- if we think it will make it easier to understand or more helpful to you;
- to reflect the way our business is run, particularly if the change is needed because of a change in the way any financial system or technology is provided;
- to reflect legal or regulatory requirements that apply to us;
- to reflect changes in the cost of running our business; or
- because we are changing or introducing new services or products that affect our existing services or products covered by these Terms and Conditions.
Telling you about changes
If we add a new product or service that doesn’t change the agreement we may add the product or service immediately and let you know before you use it.
Otherwise, we’ll give you at least 60 days’ notice through the Paynines Operations SRL app and/or email before we make any change. We’ll assume you’re happy with the change unless you tell us that you want to close your Account before the change comes into effect.
18. Pricing Section
Paynines Operations SRL does not charge any fees that apply to you for and in relation to Paynines Operations SRL services under this agreement. This also means that you will not pay any fees for us in relation to using the Paynines Operations SRL App or any other means of distance communication for your Account.
You may be responsible for paying taxes or costs that apply to the deposit that you hold in your Bank Account and that we are not responsible for collecting from you, except where that is required by law.
We will not charge for currencies conversions but charges might result coming from third parties involved in the conversion circuit.
For marketing services offered to business partner we might apply charges in future, and this section will be updated accordingly.
19. How do I close my Account?
You retain your right to close your Account and so end this agreement, at any time and free of charge by letting us know, even after the 14 days period has passed. You can do this through the Paynines Operations SRL app or by emailing us at office@paynines.com.
What happens if my paynines account is closed?
Your balance in your bank account will not be affected by closure of your paynines account, with the exception of previously unprocessed orders you have already done, prior to closure of the paynines account.
20. Legal bits and pieces
Permission for us to process your personal information
To provide services under the agreement we need to collect information about you. Under data protection law, we are what is known as the ‘data controller’ of your personal information. For more information about how we use your personal information read along those terms.
By entering into the agreement you are giving us permission to gather process and store your personal information for the purpose of providing our services to you. This doesn’t affect any rights and obligations you or we have under data protection law, and by using your paynines account you accept that we can use your data to enhance your services provided to you and your commercial partners.
You can withdraw your permission by closing your Account, which will end the agreement between you and us. If you do this, we’ll stop using your information for the purpose of providing our services, but we may need to keep your information for other legal reasons.
20.1 Our contract with you
Only you and we have any rights under the agreement.
The agreement is personal to you and you cannot transfer any rights or obligations under it to anyone else, without our consent.
20.2 Our right to transfer and assign
You permit us to transfer or assign all of our rights and obligations under these Terms and Conditions to any third party.
We will only transfer any of your and our rights or obligations under these Terms and Conditions if this won’t have a significant negative effect on your rights under these Terms and Conditions or we need to do so to keep to any legal or regulatory requirement. When we transfer rights and obligations we call this ‘novation’. When we only transfer rights, we call this ‘assignment’. You will be able to terminate the Account upon notification about the assignment.
20.3 Romanian laws applies
The laws of the Romania govern your relationship with us. They also apply to this agreement. Despite this, you can still rely on the mandatory consumer protection rules of the European Economic Area Member State where you live.
20.4 Place of conclusion of this agreement
This agreement is deemed to be concluded in the place where you live at the moment of conclusion.
20.5 The English version of the agreement applies
If these Terms and Conditions are translated into another language, the translation is for reference only and the English version will apply. By entering into this agreement and accepting Paynines Operations SRL’s services, you confirm that you understand the English language and agree to communicate with Paynines Operations SRL in English regarding this agreement.
20.6 Our right to enforce the agreement
If you have broken the agreement between you and us and we don’t enforce our rights, or we delay in enforcing them, this will not prevent us from enforcing those or any other rights at a later date.
20.7 Taking legal action against us
Legal action under these Terms and Conditions can only be brought in the courts of the Romania(or in the courts of any European Economic Area Member State where you reside).
21. What happens if I send money or make a payment?
Whenever you send money via the Paynines Operations SRL app (for example, you send it to a third party bank account), pay a fee for a Paynines Operations SRL or make any type of payment using Paynines Operations SRL at all (like a direct debit, payment link, or anything else) you instruct us to immediately send a message to your bank requesting funds from your account equal to the amount of money needed to make the payment to your recipient account in accordance with the Personal Terms.
As you can see, when you send or spend your money it leaves your bank account.
22. What happens if I make a currency conversion?
If you ask us to make a currency conversion using the Paynines Operations SRL app, you instruct us to immediately send a message to Paynines Operations SRL requesting funds from your Account equal to the amount of money needed to make the conversion
This means that by accepting using our app you instruct us to send the converted amount to your recipient’s account.
23. What does my account balance and transaction history show?
We keep track of all the money sent between your bank Account with Paynines Operations SRL. Further, using this information, we “remember” the balance of your Paynines Operations SRL Account for you and, in addition, all the movements on your bank account, done through any channel: cards, internet banking transfers, home banking application transfers, etc.
The balance we show you in the Paynines Operations SRL app is the total of your banking account balance.
This is also the balance we report via our Open Banking API when you use a licensed third-party provider to access your account.
To make sure the information we show you is correct, you agree that we are entitled to receive information about your Account from Paynines Operations SRL(including any information about any blocks or limitations on your Account and the reasons for them).
The transaction history shown in your Paynines Operations SRL app will include all the payments you have made and received in your bank account.
24. Paynines Operations SRL program
We note that we operate and provide services on business days of the Romania.
25. What type of account is my Paynines Operations SRL Account?
Your account is a PSD2 payment account, meaning the money will remain in your bank’s account or in the intra banking processing area.
Using money in your bank account
Once you have money in your bank account you’ll be able to use our services. For example, you can do the following:
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- send money to and receive money from other Paynines Operations SRL accounts and non-Paynines Operations SRL accounts;
- change money from one currency to another (we call this a currency exchange). The currencies available might change occasionally;
- make payments and withdraw cash using your Paynines Operations SRL account from its partners, against a charge, when this service will be available; and view information about and manage your account.
We add new features and services all the time. We’ll let you know about these through the Paynines Operations SRL app.
The main way we provide our services is through the Paynines Operations SRL mobile app. However, we provide our services in other ways too, like through web pages, other apps, APIs, links and other means. These terms apply whenever and however you access our services. This means they apply to all the ways you can access a particular service, even if we refer to the service being accessed through a specific means in these terms.
26. Can I open a Paynines Operations SRL account?
Normally you must be 18 or over to open a Paynines Operations SRL account. If you are under 18 and we let you have a Paynines Operations SRL account or any other service, we’ll let you know any special terms and conditions that apply.
When you ask us to open an account, we or someone acting for us will ask for banks information about you and where the money is, meaning in which bank or banks . We do this for a number of reasons, including to check your credit score and identity and to meet our legal and regulatory requirements. When we have the information we need from you and your bank or banks, we will open your account.
You can’t:
- open more than one Paynines Operations SRL personal account
- If you want to use a Paynines Operations SRL account for business purposes, you will need to apply for a business account under our Terms.
How do I get information on payments into and out of my account?
You can check all payments into and out of your account through the Paynines Operations SRL app. We will not make any changes to your account information and it will be available to you through the Paynines Operations SRL app while you are a customer. If you need to keep a copy of the information after your account is closed, you can download it while your account is still active. If you close your account and want to get this information you can email us at fofice@paynines.com. You can also download information from the app at any time.
We will send an email message to your mobile device each time a payment goes into or out of your account. You can turn off these notifications, through the Paynines Operations SRL app but if you do, you should regularly check your payments on the Paynines Operations SRL app. It’s important that you know what payments go into and out of your account, so we recommend that you do not turn off notifications.
We may also communicate with you by text message or email, so you should regularly check your text messages and email account.
Your consents, approvals, acceptances and other statements given using the Paynines Operations SRL app shall have the same legal validity as your signature on a written document. Your agreements concluded with us via the Paynines Operations SRL app shall be deemed to be written agreements concluded between you and us. Any instructions to Paynines Operations SRL for conducting operations and other actions submitted/executed from you through the Paynines Operations SRL app will be treated as submitted/executed by you and valid as actions performed by you.
What happens after my account is closed?
We’ll hold back enough money to cover any payments that you approved before your account was closed.
How do I get access to my money after my account has closed?
Once your paynines account is closed you can only withdraw your money in the currency of the country you live in from your bank account channels, like cards or internet banking transactions.
Keeping your security details and Paynines Operations SRL app safe
We do everything we can to keep your money safe. We ask you to do the same by keeping your security details and Paynines Operations SRL app safe. This means you shouldn’t keep your security details near your Paynines Operations SRL app, and you should disguise or protect them if you write them down or store them. Don’t share your security details with anyone other than an open-banking provider or third-party provider who is acting in line with regulatory requirements. We’ve explained more about open-banking providers and third-party providers along of these terms and conditions.
Make sure you close down the Paynines Operations SRL app when you’re not using it; and
keep your mobile phone and your email account secure and don’t let other people use them.
We will consider that you gave us consent and authorized us to execute the transaction once you submit your payment order on the Paynines Operations SRL app.
Payment limits
Due to the anti-money laundering and counter-terrorist financing requirements or the limits applied by third parties, we might limit how much you can receive into or pay from your account, or how much you can withdraw or spend using your Paynines Operations SRL app. We might also limit the value of currency exchange you can carry out at any one time or over a period of time. These limits can change from time to time. Information about these limits is set out here.
Keep your currency consistent
It’s important that any payment to your account is made in the currency of your account. Otherwise, the payment will be converted to the currency of your account. This means that your account might be credited with more or less than you expected. We won’t be responsible for any losses if this happens.
Transferring money between Paynines Operations SRL accounts
You can send money to, and receive money from, other Paynines Operations SRL accounts.
You can make an Instant Transfer to another Paynines Operations SRL user’s account by choosing them from the contacts list in the Paynines Operations SRL app, by using their username, or by using any other method we provide to identify them and following the prompts.
Making purchases using Pay button with paynines
You can also make a Transfer to a business which uses “Pay with paynines” to receive payments. This can happen in many ways, some examples below:
You can instruct us to make an Instant Transfer for a set amount via your Paynines Operations SRL account and bank account to an individual or a business, either instantly or at a set date or dates in the future (for example, instead of paying by card in a checkout).
You can consent to a business being able to collect Transfers from your Paynines Operations SRL account (for example, if you allow a business to collect payments from your account on a regular basis, like for a subscription ).
Customer Initiated Payments
Customer Initiated Payments must be for a set amount. The set amount will be a one-off payment. You will be asked to confirm and authenticate the amount of a Customer Initiated Payment in the checkout or signup flow. The business will only ever be paid the amount you confirm and the business cannot collect any other payments without your permission.
Merchant Initiated Payments
Merchant Initiated Payments can be for any amount, but you set limits on the frequency and total or individual value of Merchant Initiated Payments a business can collect. You can also turn off Merchant Initiated Payments to a business at any time. However, if a business asks us to collect a Merchant Initiated Payment from your account, and it is within the limits you have set, we will not ask you to approve it before it is made.
We will notify you in the Paynines Operations SRL app whenever a Customer Initiated Payment or Merchant Initiated Payment is made from your Paynines Operations SRL account.
Protection when using Pay With Paynines Operations SRL
Pay with Paynines Operations SRL is a service we offer businesses to allow you to pay them directly from your Paynines Operations SRL account, without any frustrating card details. However, we want Pay with Paynines Operations SRL to work for you as well as for businesses.
Refunds for Merchant Initiated Payments
Merchant Initiated Payments are collected from your account based on a consent you have given in the past. We encourage businesses to tell you the amount of any Merchant Initiated Payment before they collect it. However, if you think a Merchant Initiated Payment has been taken from your account in error, you can ask us to refund it within 8 weeks of it being paid. To request a refund, contact us via email, and we will let you know if your refund is successful within 10 business days.
Making other types of payments
It’s easy to send money to your or someone else’s bank account. You can make a one-off payment or set up a recurring payment. Just scan or generate a QR code or send a link and follow the simple guiding flow.
Sometimes, money you’ve asked us to transfer to someone is not paid into their account and is returned to us. If we had to carry out a currency exchange when we sent the payment, and can show that we did everything right, when we return the money to you we’ll convert it back to the original currency. This means that the amount you receive back into your account might be less than the payment you made (or it could be more!). We would not be responsible for any losses that this causes you.
Make sure you know the person you are making a payment to. If someone approaches you and asks you to make a payment to them, but you are not sure who they are or what the payment is for, you may be a victim of a scam, and we may not be able to recover the money for you.
What happens if a payment was sent to the wrong account, wasn’t sent at all or was delayed?
We’ll always try to process your payments correctly and on time, but sometimes things go wrong and a payment might be delayed or not received by the person you wanted to pay.
If something has gone wrong and:
the person paying you;
the bank account you wanted to make the payment into; or
the retailer you were paying;
is in the Romania, let us know through the Paynines Operations SRL app. You need to let us know as soon as possible, and no later than 13 months after the amount was taken from your account.
If the money is not received into the account you sent it to, we’ll refund the payment back into your account. If you’ve had to pay any charges or interest as a result of our mistake, we’ll refund those too.
If we received a payment on your behalf, but the money was not paid into your account on time, we’ll immediately credit your account with the amount of the payment.
These rules don’t apply to currency exchanges.
What to do if you think you have made a mistake?
You should always check that you have entered the correct details for the person you want to pay before you make a payment. It’s always a good idea to make a test payment of a small amount (say, €1) to make sure that you have the account details correct. You should always think about the following:
The usernames you see in the Paynines Operations SRL app can look similar to other usernames and are able to be changed by individual users. We take steps to remove any inappropriate usernames, but these usernames are not verified by us or anyone else. This means that if you are not sure that the person is who they say they are, you may pay the wrong person and may lose your money.
We are not responsible if we make a payment to the person you tell us to, even if you gave us the wrong account number, username or phone number by mistake. However, if you ask us to, we’ll try to get your money back for you. We may also try to get you information about the beneficiary so that you can try to get it back yourself (if the law allows us to). While we will try to do these things, we don’t guarantee that we will, and in some cases we won’t be able to.
What we’ll do if we, or someone else, has made a mistake?
On the other hand, if a payment is mistakenly paid into your bank account via Paynines Operations SRL account by another person, you will have to pay them back. If the person who mistakenly made the payment makes a legal claim to get it back themselves, we may need to share your information with them.
For these reasons, you should always check your account regularly to make sure everything is correct.
Send and receive money using a payment link
You can easily send money to a friend who doesn’t have a Paynines Operations SRL account by setting up a ‘payment link’. A payment link allows you to agree to pay a certain amount without entering the account details the payment will be made to. Instead, you choose the amount, share the link, and the recipient enters their account details themselves or is automatically processed by paynines, depending by some technical conditions.
You can do this by going into the payments tab of the Paynines Operations SRL app, entering the amount you want to send, clicking on ‘create payment link’, and sending the link to your friend.
You can also create a payment link to receive payments and send that link to your friend.
Once you’ve sent the link to your friend, they will need to complete the payment link by entering the relevant details.
If you are sending money using a payment link, either the recipient’s bank data is processed automatically by paynines or your friend will need to enter their bank account details into the link. The payment will then be made to their bank account, as if you had entered those details into the app yourself. Sometimes, because of the size or nature of the payment, your friend will be asked to join Paynines Operations SRL in order to complete the transaction. Once they have, the payment will be made via Paynines Operations SRL account to their bank account.
If you are receiving money using a payment link, your friend will need to enter their debit or credit card details into the link within 24 hours. The payment will then be made from their card. We may put limits on the amount you can request using a payment link, which we will show you in the app.
Sometimes we may have to ask your friend to open a Paynines Operations SRL account before they can receive a payment for other reasons too. If they don’t, we won’t be able to make the payment to them or from them.
All payment links have a time limit. After this, the link will expire, and your friend will not be able to make or receive your payment. We’ll tell you what this time limit is in the app when you create the link.
Remember, when you create a payment link to send money, you are agreeing to make a payment without entering the account details yourself. The payment will be made to whatever details are entered into the link. Make sure you are careful where you share a link, and who you share it with. For example, if you share a “send money” link on your friend’s social media profile, someone else could click on the link and claim the money themselves. If you’re worried about a payment link you have created, you can cancel it (before it is completed) through the transaction history in the app.
What exchange rate do you use?
We do not plan making money from exchange rates. So, we will process the conversions at the best obtainable parities, without any charge coming from us, with the exception of those resulted from our exchange mechanism partners.
Once we’ve converted a currency, your transaction history in the Paynines Operations SRL app will show the exchange rate we used too.
The exchange rate may change between the time you told us you wanted to exchange currency and the time we actually carry out the conversion. This means that if you ask us to exchange currency, you may receive a little more or less back than what you had expected.
We’re not responsible if:
you lose any money as a result of converting currency; or
you’re charged any fees or lose any money because you’re using your Paynines Operations SRL account in another country and you ask the retailer (or the retailer’s bank) to make the conversion. (For example, imagine you’re a Romanian customer travelling in Japan. When you pay your bill at a restaurant you agree to pay in Euro rather than yen. This means you’ve asked for the retailer’s bank to convert the currency. We can’t be responsible if that bank gives you a worse exchange rate or charges you fees).
Can I cancel a payment or currency exchange?
You can cancel a payment at any time up to the end of the business day before the payment is due to be paid from your bank account.
You can’t cancel a payment on the same day it’s due to be paid from your account.
You also can’t cancel a currency exchange once we’ve received your request to carry it out.
It’s easy to cancel a bank transfer.
You can cancel a bank transfer through the Paynines Operations SRL app.
How long does it take to make a payment?
We understand that when you make a payment, one of the most important things is that the person the payment is for receives it on time. When their bank will receive the money depends on what time you tell us to make the payment, and the currency you want us to make it in.
You can provide your payment instruction at any time and we’ll receive it immediately.
Payment to someone else’s bank account, including for cross border transactions is done accordingly with the banks intra and cross border – banking national payment infrastructure.
When we will refuse or delay a payment
We must refuse to make a payment, or delay a payment (including inbound and outbound payments), in the following circumstances:
if legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks;
if you have broken these terms and conditions in a way that we reasonably believe justifies us refusing or delaying your payment;
if processing your instruction would break these terms and conditions or that your instruction doesn’t contain all the information we need to make the payment properly;
if the amount is over, or would take you over, any limit that applies to your account.
if there is not enough money available in your account to make the payment and cover any charge;
if a bankruptcy order is made against you or you’ve entered into an individual voluntary arrangement with your creditors;
if, even after doing everything reasonably possible, we won’t be able to make the payment on time;
if a third party prevents us from making the payment (for example, if your or recipient’s bank do not allow a payment using your Paynines Operations SRL account);
if we have asked you for important information we reasonably need and you have not given us that information; or
if we have suspended your account.
WHEN WE REFUSE TO MAKE A PAYMENT, WE’LL ALWAYS (UNLESS IT WOULD BE UNLAWFUL OR TECHNICALLY IMPOSSIBLE FOR US TO DO SO) TRY TO LET YOU KNOW OF THAT REFUSAL, THE REASONS FOR THAT REFUSAL (IF POSSIBLE), AND THE PROCEDURE FOR RECTIFYING ANY FACTUAL ERRORS THAT LEAD TO THAT REFUSAL. SUCH NOTIFICATION SHALL BE GIVEN TO YOU AS SOON AS PRACTICABLE FOLLOWING THE REFUSAL.
If we can, we’ll use the Paynines Operations SRL app to tell you that we have refused to make a payment. If you’d like to find out why we refused the payment, and what you can do to solve any problem, please contact us through the app.
We won’t be responsible for any losses you suffer as a result of us refusing or delaying a payment.
Third-party fees for making or receiving payments
We don’t charge any fees for receiving payments. We don’t charge any fees for sending local payments in your base currency either.
If you make a payment in another currency or to another country, we may charge a cross-border or SWIFT payment fee. These fees are set out in our Pricing Section, once we will do those . We will always tell you about them, and tell you how much they cost, in the Paynines Operations SRL app before you make a payment.
Other banks involved, such as the bank of the person you are paying or certain correspondent or intermediary banks (banks that help transfer the money between other banks) might sometimes take their fees from the payment you’re sending or receiving. This could mean that you or the person you are paying receives less than expected. For example, you could only receive €90 from someone who has sent you €100 because the other person’s bank has charged a €10 fee.
This might happen if:
the bank of the person you are sending a payment to or receiving a payment from is within the European Union and the payment is in a currency that is not the currency of an European Union member state; or you make a payment to or receive a payment from someone whose bank is outside the European Union.
To be clear, we won’t charge you any fees ourselves for making or receiving payments. We will always give you the full amount we receive from another bank. Likewise, we will always send the full amount that you ask us to send, but we can’t guarantee that the full amount will be paid into the other person’s account without a fee being taken by another bank.
What happens if someone steals from my account?
Let us know as soon as possible through the Paynines Operations SRL app (and no later than within 13 months from the date the money was taken from your account). We’ll pay the money back into your account if any of the following apply:
you couldn’t have known that your security details or Paynines Operations SRL account were at risk of being misused;
the payment happened because someone we’re responsible for made a mistake;
the payment was taken after you told us that someone knew your security details or your Paynines Operations SRL account was lost or stolen, or we didn’t give you a way to tell us about this;
the law required us to make you follow certain prompts when you instructed us to make the payment and we didn’t do this; or
you made a payment to pay for certain goods or services you bought online or through some other method that is not face-to-face (there are some types of contracts this might not apply to, such as contracts for rental accommodation, but we can give you more information about this when you let us know about the problem).
We’ll also pay back any charges you had to pay as a result of the payment being taken from your account.
We won’t refund any money if you’ve acted fraudulently, or you intentionally or carelessly failed to keep your security details or Paynines Operations SRL account safe (unless you told us about this before the payment was taken from your account). For example, we wouldn’t make a refund if you gave someone your Paynines Operations SRL account PIN or smartphone and they made a payment using your smartphone without you knowing about it.
When we might block your account ?
The safety of your money is important to us. We might prevent you from making payments from your bank account with your Paynines Operations SRL account if we’re reasonably concerned about its security or that it might be used fraudulently or without your permission.
We might also have to block your Paynines Operations SRL account to meet our legal obligations arising from the laws of Romania.
We’ll tell you through the Paynines Operations SRL app before, or as soon as possible after, we block your Paynines Operations SRL app. We’ll also let you know why we’ve done it (unless it would reduce your or our security or it would be unlawful). We will unblock your account as soon as the reasons for blocking your account no longer exist.
Are you responsible if something goes wrong with my account, my Paynines Operations SRL account or the Paynines Operations SRL app?
We’ll do as much as reasonably possible to make sure that our services are not interrupted and are accessible at a reasonable speed. However, we can’t promise that this will always be the case or that the services will be free from faults. We also rely on some third parties to provide services to you, which can sometimes disrupt our services. We’ll always do our best to solve any problems with our services, no matter what the cause.
We will not be responsible for losses resulting from us failing to meet our obligations for payments into and out of your account because:
of a legal or regulatory requirement;
unforeseeable events outside our control, which were unavoidable at the time;
of criminal or any other illegal actions of third parties resulting in damage to you or any other person (unless specified in these terms and conditions directly); or
of the blocking of your account when implementing legal requirements, including those in relation to anti-money laundering and counter-terrorist financing.
If you can’t use your Paynines Operations SRL account for any reason we will only be responsible for allowing you to close the account.
We will only be responsible for foreseeable losses.
How you might owe us money
You cannot borrow money on your account (for example, make payments of more than the value of the money in it), although you may be able to benefit from one of our credit products coming in future. If your balance becomes negative (for example, because you do not have enough money to cover fees you owe us), you must within 7 (seven) days upon our request to top up your bank account with the required amount to correct the negative balance.
If you owe us money, we can take the amount you owe us from any amount we are due to pay to you. We call this our right of set-off.
Paying fees or other amounts you owe us (other than third-party fees for making or receiving payments).
The fees you may have to pay us are listed on our Pricing Section.
If you owe us fees (other than third-party fees for making or receiving a payment) or any other amount, we’ll take the amount you owe us from your account, in the currency of the country you live in (your base currency).
If not enough money in your bank account is held in your base currency, we’ll take the equivalent value from money you hold in another currency. If you don’t have enough money in your account to pay the fees or other amounts you owe us, we might recover the amount in another way.
If you owe us money and you don’t top up your account or repay us within seven days, we can recover the amount by:
When you might be responsible for our losses
You may be responsible to us for certain losses
If you have broken these terms and conditions, and/or this has caused us to suffer a loss, the following will apply:
you will be responsible for any foreseeable losses we suffer as a result of your action (we will try to keep the losses to a minimum); and
you will also be responsible for any reasonable legal costs that arise as a result of our losses.