Wallester Payment Service Agreement — Private Client

Effective date: 14.06.2024

Disclaimer The Wallester Payment Service Agreement — Private Client translated into English (UK) is for information purposes only. In the event of queries or disputes, the parties shall refer to the English version of the Wallester Payment Service Agreement — Private Client.

Name: Wallester AS

Registration number: 11812882

Registered office and headquarters: Ahtri 6, 10151 Tallinn, Estonia

Licence: No. 4.1-1/224, payment institution, issued by the Financial Supervision Authority of Estonia fi.ee/en/payment-services/payment-services/payment-institutions/estonian-payment-institutions/wallester

Supervisory authority: Financial Supervision Authority of Estonia, address: Sakala 4, 15030 Tallinn, Estonia, phone: +372 668 0500, email: info@fi.ee, website: https://www.fi.ee

1. Definitions

Account — the Client’s virtual payment account in the Wallester System for depositing funds that the Client uses to make payments via the Service.
Additional Service — the Services that Wallester provides to the Client under this agreement in addition to the Core Service.
Agreement — this agreement concluded between Wallester and the Client regarding provision of the Service to the Client. The Agreement consists of this agreement document and its annexes (incl. the Price List).
AML/CTF — anti-money laundering and counter-terrorism financing.
Client-to-Client Payments — an Additional Service which provides the Client with the option to transfer funds from the Client’s Account to the accounts of other clients of the Service.
Card — a payment instrument that the Client can use to perform Operations with the funds in the Client’s Account via the VisaNet electronic payments network.
Card Data — the information about the Card and the Client which is required to perform Operations with the Card, such as the Client’s name, the Card number, validity period and security feature (e.g., CVV code).
Clause — refers to a clause in this Agreement.
Client — the natural person who has concluded this Agreement with Wallester for private use of the Service.
Client Data — the set of data that Wallester has collected regarding the Client for the purpose of verifying the Client’s compliance with the Agreement and providing the Service.
Core Service — the Service of issuing Cards to the Client to perform Operations with the funds in the Client’s Account. The Core Service is an integral part of the Agreement which is provided to the Client during the entire Agreement period.
Digital Wallet — an Additional Service which provides the functionality to perform Operations with the Card via the payment solution designed for smart devices (e.g., Apple Pay, Google Pay, Samsung Pay).
Feature — a functionality of the Service.
Fee — the fees payable by the Client for the use of the Service. In addition to Fees for Services that are provided solely by Wallester, it includes Fees payable to third parties who participate in providing the Services, if provided in the Agreement.
LoOA — Law of Obligation Act of the Republic of Estonia.
Materials — texts, images, audio clips, video clips, layout, graphic elements and other content published on the Wallester Website, in the Wallester App or made available to the Client by Wallester via other means.
Means of Authentication — technological means that are used to authenticate the Client, prove the validity of the Card and/or to authorise Operations (e.g. ID card, one-time authentication code, PIN code or CVV code).
Merchant — the person to whom the Client makes a payment with the Card.
Operation — an event where the Card’s functionality is used to perform an operation, such as making payments to Merchants online or via a card terminal, withdrawing Cash, or receiving information about the account balance.
Party/Parties — the Client and/or Wallester referred to separately or jointly.
Physical Card — a type of Card which contains one or more technological devices to authenticate the Client and authorise payments (e.g. chips for contact and contactless payments) embedded in a card made of plastic or other material, and the Card Data printed on the Card.
Price List — an annex of the Agreement which includes the list of Fees payable to Wallester by the Client for the use of the Service. However, Wallester has the right to charge up to €0.15 for every card authorisation.
Sanctions — restrictive measures imposed by law which prohibit provision of the Service, making available of the funds in the Account or other actions towards or in connection with specific persons, states, territories, groups or regimes.
Service — a service provided by Wallester to the Client in accordance with this Agreement, consisting of the Core Service and the Additional Services.
Strong Authentication — authentication of the Client based on at least two elements (a) which are independent of each other, so that a breach of one of these elements does not compromise the credibility of the other, and (b) the structure of which protects the confidentiality of the authentication data. The elements fall into one of the following categories: (a) knowledge — something known only to the Client (e.g. PIN), (b) possession — something possessed only by the Client (e.g. the Physical Card), or © inherence — something the Client is (e.g. fingerprint).
Terminal — ATM, a payment terminal, or another system (incl. websites accepting card payments) through which the Client can perform Operations with the Card.
Top-up — the Transaction performed by the Client to add funds to the Account for the purpose of using the funds for Operations and Transactions.
Transaction — transactions that are performed in connection with the funds in the Client’s Account, incl. use of the funds via Operations with Cards linked to the Account, Top-up, Client-to-Client Payments, payment of Fees.
Virtual Card — a type of Card which consists solely of the digital Card Data made available to the Client in the Wallester System, i.e. no Physical Card is issued.
Visa — the international card organisation Visa Europe Ltd (www.visa.co.uk).
VisaNet — the electronic payments network operated by Visa through which the Operations with the Cards are carried out.
Wallester — Wallester AS, the company that has entered into this Agreement with the Client to provide the Service to the Client.
Wallester API — application programming interface of the Wallester System through which the Client can access and use the Service from a linked external information system.
Wallester App — application created by Wallester through which the Client can access and use the Service on mobile devices.
Wallester System — the central information system operated by Wallester which hosts the data, functionality, processes, connections to external systems etc. required to provide the Service. The Client accesses the functionality provided by the Wallester System via the Wallester API, the Wallester App or the Wallester Website.
Wallester Website — the website business.wallester.com operated by Wallester through which the Client can access the Service.

2. Client relationship

2.1.2.3. General requirements for the Client

2.1.1.2.1.3. Wallester has the right to decide which persons it accepts as clients, based on the criteria provided in the Agreement and by law.

2.1.2.2.1.3. The Service is a B2C service, i.e. provided to Clients who use the Service privately.

2.1.3.2.1.3. In addition to the restrictions provided in law (e.g. Sanctions), Wallester may establish additional criteria regarding which persons are accepted as clients, such as:

2.1.3.1.2.1.3.4. Completeness of the data that Wallester has requested,

2.1.3.2.2.1.3.4. Wallester’s AML/CFT risk appetite,

2.1.3.3.2.1.3.4. the reputation of the person,

2.1.3.4.2.1.3.4. potential profitability of the contractual relationship.

2.2.2.3. Establishment and termination

2.2.1.2.2.3. The main steps of establishing the client relationship are as follows:

2.2.1.1.2.2.1.5. the person who wishes to become a client submits the relevant application,

2.2.1.2.2.2.1.5. Wallester requests additional information and documents from the applicant to verify that the applicant complies with the requirements of the Agreement and the law (incl. identity verification, AML/CFT and Sanctions checks),

2.2.1.3.2.2.1.5. Wallester may collect additional information about the applicant independently in accordance with the law,

2.2.1.4.2.2.1.5. based on the evaluation of the collected information about the applicant, Wallester decides whether the applicant is accepted as a client,

2.2.1.5.2.2.1.5. In the event of a positive decision, Wallester informs the applicant of the conclusion of the Agreement, opens the agreed Services for the Client and grants access to the Wallester System.

2.2.2.2.2.5. By submitting the application in accordance with Clause 2.2.1.1, the applicant fully accepts the terms of this Agreement and declares the intent to enter into the Agreement if Wallester finds the applicant suitable.

2.2.3.2.2.5. The Agreement between the applicant and Wallester is concluded once Wallester completes the applicant’s evaluation and adds the decision to accept the applicant as the Client to the Wallester System.

2.2.4.2.2.5. Wallester provides no Services before the Agreement has been concluded. Nor does Wallester have any other obligations towards the applicant except to review the submitted data and make a decision regarding the applicant’s suitability in good faith. Wallester is not responsible for any expenses incurred by the applicant in connection with providing the required information, regardless of whether Wallester accepts the applicant as a client.

2.2.5.2.2.5. The client relationship is terminated upon termination of the Agreement in accordance with Clause 18.

2.3.2.3. Client data

2.3.1.2.3.4. In accordance with the law, Wallester must perform ongoing due diligence regarding the Client. For this purpose, Wallester first requests relevant data and documents from the Client before the Agreement is concluded, and later requires the Client to update the Client Data during the term of the Agreement. Based on the updated Client Data, Wallester periodically evaluates whether the Client still complies with the requirements of the law and the Agreement (incl. Wallester’s risk appetite).

2.3.2.2.3.4. Up‑to‑date Client Data is an essential precondition for Wallester to provide the Service to the Client.

2.3.3.2.3.4. If there are changes in Client Data or other changes in connection with the Client that may affect the Client’s compliance with this Agreement or the law, the Client must immediately inform Wallester of those changes. These changes include, for example:

2.3.3.1.2.3.3.5. the Client’s address or other contact data changes,

2.3.3.2.2.3.3.5. there are changes regarding the Client’s prior declarations in connection with the politically exposed person status,

2.3.3.3.2.3.3.5. Sanctions are imposed against the Client or other persons who have close connections with the Client,

2.3.3.4.2.3.3.5. criminal or other penal investigation is initiated against the Client, or the Client has been found guilty of committing such offences,

2.3.3.5.2.3.3.5. bankruptcy proceedings are initiated against the Client.

2.3.4.2.3.4. If Wallester in good faith finds that verifying the Client Data requires data from third parties which is not publicly available (e.g. commercial register data in certain countries), Wallester has the right to request written permission from the Client to acquire such data directly from the third parties.

3. Communication

3.1.3.5. Language

3.1.1.3.1.4. The language of the Agreement and communication regarding the Agreement is English.

3.1.2.3.1.4. Wallester may provide English translations of the documents, user interfaces and other materials. In case of conflict between the English version and the translation, the English version shall have priority.

3.1.3.3.1.4. Wallester may provide the option to communicate in other languages (e.g. customer support), but Wallester reserves the right to request all communication in English.

3.1.4.3.1.4. Wallester may request an English translation for any documents required from the Client that are in a language other than English. The Client bears the cost of these translations.

3.2.3.5. Communication channels

3.2.1.3.2.5. The primary channels for communication during the Agreement are the Wallester System and email. If access to the Wallester System has been closed to the Client, notices to Wallester must be sent via email.

3.2.2.3.2.5. The information published in the Wallester System or sent via email is deemed to be received by the other Party on the next business day after it was published or sent.

3.2.3.3.2.5. Wallester may request that certain information is provided by the Client in paper form via post or other means.

3.2.4.3.2.5. If the Client contacts Wallester via phone, email or another communication channel where the participants are not properly authenticated, Wallester may request additional information to verify the person’s identity. If Wallester is not convinced of the identity of the person who initiated the communication, Wallester suspends further communication until it has verified the information with the Client via other communication channels.

3.2.5.3.2.5. The information Wallester may request in such cases to verify the Client relates to fragments of Client Data and Card Data (e.g., the last four digits of the Card). Under no circumstances does Wallester request the Client to provide full Client Data, Card Data or Means of Authentication. If the Client receives such a request, it is likely a scam attempt and further communication with the other party should be declined. The Client must immediately inform Wallester of the event.

3.3.3.5. Mandatory reports and other contractual information

3.3.1.3.3.3. Wallester makes the Agreement documents, account statements and other legally required information regarding the contractual relationship available digitally in the Wallester System or via email.

3.3.2.3.3.3. During the Agreement:

3.3.2.1.3.3.2.3. the information in the Wallester System is made available to the Client free of charge,

3.3.2.2.3.3.2.3. the first email with information is sent to the Client free of charge,

3.3.2.3.3.3.2.3. Wallester may charge a fee for repeated emails or for providing the information on paper or in another agreed format.

3.3.3. 3.3.3. After termination of the Agreement, Wallester may request a Fee for providing any information requested by the Client, regardless of the channel or medium through which the information is provided.

3.4.3.5. Contact information

3.4.1.3.4.2. Wallester’s up‑to‑date contact details are provided on the Wallester Webpage and in the Wallester System.

3.4.2.3.4.2. The Client must immediately inform Wallester if the Client’s contact details change.

3.5.3.5. Miscellaneous

3.5.1.3.5.3. Wallester may require that copies of documents provided by the Client and their translations are notarised or certified in an equivalent manner. The Client bears the costs of providing these documents.

3.5.2.3.5.3. Wallester may establish additional requirements for communication in connection with the Agreement, including identification of the Client and accepted signature format. Wallester may update the list of requirements from time to time.

3.5.3.3.5.3. The Client must send notices to Wallester regarding the misuse of data relating to the provision of the Services, fraud, or any potential threat thereof, in compliance with the general communication rules provided in Clause 3.2.1..

4. General service terms

4.1.4.4. Purpose and permitted use

4.1.1.4.1.2. The Service is provided strictly for private use by the Client, e.g. household expenses, food and travel.

4.1.2.4.1.2. The Client must use the Service personally. It is prohibited to hand the Means of Authentication and the Cards over to third parties.

4.2.4.4. Service model

4.2.1.4.2.5. The Client is subscribed to the Core Service for the entire duration of the Agreement. The Core Service provides the main functionality without which the use of the Service (including the Additional Services) is not possible.

4.2.2.4.2.5. The Additional Services provide additional functionality to the Core Service. The Client can choose which Additional Services to subscribe to throughout the duration of the Agreement.

4.2.3.4.2.5. In addition to providing the Core Service and the Additional Services separately, Wallester may provide Service bundles which include different Services for a bundled pricing model. Wallester may make certain Services available only as part of bundles.

4.2.4.4.2.5. The Client subscribes to the Services in the Wallester System. Wallester may provide additional options to subscribe to the Services, e.g. via email or phone.

4.2.5.4.2.5. Detailed information about the Services is provided on the Wallester Webpage and in the Wallester System.

4.3.4.4. Limits

4.3.1.4.3.5. Limits establish restrictions regarding how the Client can use the Service, including the maximum value of Transactions in a certain period, the maximum value of a single Transaction, the types of Transactions allowed, and accepted Merchants.

4.3.2.4.3.5. Wallester, at its sole discretion, establishes limits applicable to the Client. Wallester informs the Client about the set limits. Wallester is not obliged to inform the Client about the considerations upon which the limits are based.

4.3.3.4.3.5. The Client can request a change to the limits from Wallester, in which case Wallester re-evaluates the Client’s status and the acceptability of the requested change.

4.3.4.4.3.5. Wallester may change the limits applicable to the Client on its own initiative without prior notice.

4.3.5.4.3.5. Within the limits set by Wallester, the Client can set additional limits in the Wallester System on the Transactions performed in the Service by the Client, e.g. daily Transaction or single Transaction limits.

4.4.4.4. Changes

4.4.1.4.4.3. Wallester may, from time to time at its sole discretion, add new Services, make changes to the existing Services or close Services.

4.4.2.4.4.3. If new Services are added or changes are made to the existing Services which do not have a negative effect on the Client (i.e. no functionality is removed), Wallester is not required to provide prior notice. Information about these changes is published in the Wallester System.

4.4.3.4.4.3. If changes are made to the existing Services which have a negative effect on the Client (i.e., functionality is removed) or a Service is closed, Wallester provides two months' prior notice to the Client.

5. Core service

5.1.5.8. General description

5.1.1.5.1.3. The main functionality of the Core Service is as follows:

5.1.1.1.5.1.1.3. Wallester opens Accounts for the Client in the Wallester System in one or more currencies,

5.1.1.2.5.1.1.3. The Client orders Physical Cards and/or Virtual Cards that are linked to the Client’s Account,

5.1.1.3.5.1.1.3. the Client uses the Cards to make payments with the funds in the Client’s Account.

5.1.2.5.1.3. The Cards are Visa debit cards which support payments via the VisaNet payment network in accordance with the rules established by Visa. By entering into the Agreement, the Client understands and accepts that Wallester has no control over the rules applied to payments in VisaNet, nor over any possible technological and other failures that may occur within VisaNet.

5.1.3.5.1.3. The Client can access the Service either via the Wallester API, Wallester App or the Wallester Webpage. The available functionality may differ across these channels.

5.2.5.8. Account

5.2.1.5.2.10. The Account must be used solely to deposit funds for Operations with the Cards and to conduct Transactions in other Services. The account must not be used as a savings account or for any purpose other than that set out in the previous sentence.

5.2.2.5.2.10. The funds in the Account are not covered by the Financial Services Guarantee Scheme. The Account is not a current or savings account and is not linked to any other account that the Client may have. The Client’s funds are safeguarded in a segregated bank account and kept separate from Wallester’s own funds.

5.2.3.5.2.10. The Client can add funds (i.e. Top-up) to the Account in the currency of the Account or other currencies accepted by Wallester. The instructions to perform the Top-up are provided in the Wallester System. Wallester only accepts Top-ups made in accordance with the instructions.

5.2.4.5.2.10. If the Top-up is performed via a card payment from an external account (i.e. with a card not provided by Wallester as part of the Service), the card used to perform the Top-up must be issued to the Client. Performing Top-ups with cards issued to third parties is not permitted.

5.2.5.5.2.10. If the Client makes a Top-up to the Account in another currency accepted by Wallester, Wallester converts the transferred currency into the currency of the Account. This includes Top-ups between Accounts, i.e. if the Client transfers funds between the Client’s Accounts in different currencies within the Service. Wallester may establish a Fee for such currency conversions, which is published in the Price List. Even if no Fee is established in the Price List, Clause 6.1.3 applies.

5.2.6.5.2.10. If the Client attempts to Top-up the Account with an unsupported currency or the Top-up attempt otherwise does not comply with the provided instructions, Wallester rejects the Top-up and returns the funds. Wallester may deduct any expenses incurred in connection with rejecting the Top-up and returning the funds.

5.2.7.5.2.10. All Top-ups are subject to anti-fraud, AML/CTF and sanctions monitoring, which may result in a delay before the Top-up is accepted and made available on the Client’s Account for Transactions. Wallester reserves the right to reject Top-ups at its sole discretion.

5.2.8.5.2.10. The Client can view and download the account statements free of charge in the Wallester System during the Agreement. Clauses 3.3.2 and 3.3.3 apply in connection with statements in other media and applicable fees.

5.2.9.5.2.10. The rate of interest that Wallester pays to the Client on the funds in the Account is 0%.

5.2.10.5.2.10. If funds have been transferred to the Account erroneously or unduly (i.e. not as a Top-up by the Client, a refund by a Merchant or otherwise in compliance with the Agreement), the Client must notify Wallester immediately upon discovery of the incorrect payment. Wallester has the right to block and/or debit funds incorrectly transferred to the Account without the Client’s consent.

5.3.5.8. Card use

5.3.1.5.3.13. Before the first use of the Card, the Client must activate the Card in the Wallester System in accordance with the provided instructions. The Operations can only be performed with an activated Card.

5.3.2.5.3.13. Authorisation (i.e., the Client’s consent to perform an Operation) may be performed using the Card or through an acquirer using the Card Data.

5.3.3.5.3.13. All Operations, once authorised by the Client, are valid for Wallester and are executed by Wallester without requiring additional authorisation from the Client. Wallester starts executing the Operation immediately after the Client has authorised the Operation with the Card.

5.3.4.5.3.13. After the Client has authorised an Operation with the Card, the paid sum can only be refunded upon approval by the Merchant that received the payment and to the Card from which the initial payment was made.

5.3.5.5.3.13. If the Client performs Operations with the Card for which payment of Fees to third parties is required, such Fees are deducted from the Client’s Account in addition to the sum of the Transaction. For example, the fee for requesting a limit query, viewing the Operation statement via an ATM, and additional fees and conversion rates paid to Visa.

5.3.6.5.3.13. If the Client performs an Operation with the Card in a currency other than the currency of the Account connected to the Card, the sum is automatically converted to the currency of the Operation by Visa. The total Fee for this conversion consists of the sum of the following: (a) the exchange rate of Visa and (b) the Fee established by Wallester in the Price List (if any). The exchange rate of Visa is established at the sole discretion of Visa and is updated from time to time. It is the Client’s obligation to check the then-applicable Visa exchange rate before performing an Operation. The Visa exchange rate is published on the Visa website: www.visa.co.uk/support/consumer/travel-support/exchange-rate-calculator.html.

5.3.7.5.3.13. All requests from VisaNet for Operations outside the European Economic Area are provided to Wallester in the currency of the Card or converted to the Card’s currency by Visa.

5.3.8.5.3.13. Wallester may configure the Cards to require the Client to use Strong Authentication to perform Operations. Wallester may provide exceptions to this requirement, such as for contactless payments.

5.3.9.5.3.13. The Cards issued by Wallester are debit cards, meaning Operations can only be performed if there are sufficient funds in the Client’s Account.

5.3.10.5.3.13. The Means of Authentication issued to the Client with each Card serve as the Client’s signature when performing Operations with the Card.

5.3.11.5.3.13. The Card must only be used by the Client. The Client must not authorise third parties to use the Card, i.e. to make the Card or only the Card Data available to third parties. The Card must not be given to third parties as a gift, sold to third parties or otherwise transferred to third parties.

5.3.12.5.3.13. The Card must not be used for illegal purposes or in a manner prohibited by law, including the purchase of prohibited goods and services.

5.3.13.5.3.13. Wallester, the Merchants and other persons servicing the Card have the right to refuse to execute the Operation and/or withhold the Card if the Card and/or its Means of Authentication have been used incorrectly, or if there are doubts regarding the actual identity of the person attempting to perform the Operation. Wallester may request information regarding why the Card was withheld from the persons who withheld the Card. Wallester decides at its sole discretion the extent to which the reasons for withholding the Card are provided to the Client.

5.4.5.8. Merchants

5.4.1. 5.4.5. The Merchants may set additional security measures as a precondition for accepting payments with the Card, such as requesting identity documents. Wallester has no control over such requirements by the Merchants.

5.4.2.5.4.5. Wallester has no control over whether a Merchant accepts multi-part payments, i.e. if a larger sum is paid in smaller parts with several Cards or partly with Card (s) and partly in cash.

5.4.3.5.4.5. If the Client has authorised an Operation without knowing the exact amount, then, instead of Wallester, the Client has the right to file a complaint directly with the Merchant who is the recipient of the payment resulting from the Operation.

5.4.4.5.4.5. Contractual disputes between the Client and the Merchant in connection with payments made with the Card must be resolved between the Client and the Merchant. Wallester does not provide buyer protection programmes or similar services to resolve disputes between the Clients and the Merchants.

5.4.5.5.4.5. Refunds in connection with the contractual relationship between the Client and the Merchant must be initiated by the Merchant. These refunds can be sent to the Client’s Card from which the initial payment was made. It may take up to 7 business days for the refunded sum to become available on the Client’s Account.

5.5.5.8. Security requirements

5.5.1.5.5.5. The Client shall use the Card in accordance with the following security requirements:

5.5.1.1.5.5.1.7. the Physical Card must be protected from mechanical damage, extreme temperatures, electromagnetic exposure, corrosive substances and from environmental effects which can damage the Physical Card,

5.5.1.2.5.5.1.7. No alterations shall be made to the card,

5.5.1.3.5.5.1.7. No attempts shall be made to copy the card,

5.5.1.4.5.5.1.7. The Physical Card, the Card Data and the Means of Authentication shall not be handed over or made available to third parties, except to Merchants who accept payment from the Client to the extent necessary,

5.5.1.5.5.5.1.7. the Card Data or the Means of Authentication must not be stored as paper copies or as unprotected digital data (i.e. the data protection measures of the data carrier or the service must be comparable to what is applied in Wallester System),

5.5.1.6.5.5.1.7. Before using the Card in a Terminal, the Client must verify that the Terminal supports Visa-branded Cards (the Visa logo shall be displayed on the Terminal) and understand the instructions regarding the use of the Terminal.

5.5.1.7.5.5.1.7. The Client shall comply with other security requirements provided in the Agreement or law.

5.5.2.5.5.5. The Client must be vigilant regarding possible scam or fraud attempts and avoid falling victim to these, including:

5.5.2.1.5.5.2.3. to make reasonable efforts to detect illegal devices that copy the Card Data and the Means of Authentication on and around the Terminals,

5.5.2.2.5.5.2.3. make reasonable efforts to detect phishing websites, including phishing websites claiming to belong to Wallester, Merchants, public authorities etc.,

5.5.2.3.5.5.2.3. Never send Card Data or Means of Authentication via any information channels (including email, phone, WhatsApp, or Telegram) to anyone claiming to work for or otherwise represent Wallester, because Wallester never sends such requests to Clients.

5.5.3.5.5.5. Wallester may implement policies or measures that require the Client to periodically change the Means of Authentication of the Card.

5.5.4.5.5.5. Wallester at its sole discretion determines the configuration of the security features of the Services, including the Strong Authentication requirements to access the Services and use the Cards.

5.5.5.5.5.5. The security requirements in this Clause 5.5 also apply to the use of the Additional Services.

5.6.5.8. New cards

5.6.1. 5.6.10. A Card is issued by Wallester to the Client if:

5.6.1.1. 5.6.1.2. the Client requests a new Card or

5.6.1.2. 5.6.1.2. Wallester automatically issues a new Card to replace an expired Physical Card.

5.6.2. 5.6.10. The Client can request a new Card in the Wallester System.

5.6.3. 5.6.10. Virtual Cards are provided to the Client in the Wallester System by disclosing the Card Data of the new Virtual Card to the Client.

5.6.4. 5.6.10. In the case of Physical Cards, the Client chooses the delivery method when submitting the application to issue the Card. If an estimated arrival time is provided, this is of an indicative nature and not binding on Wallester.

5.6.5. 5.6.10. At the Client’s request, Wallester sends the Card, with or without the Means of Authentication necessary to use the Card, by post to the address provided by the Client. If no Fee is provided in the Price List for delivery of the Card, Wallester may request that the Client pays for the actual delivery costs.

5.6.6. 5.6.10. Wallester issues a replacement for an expired Physical Card without the need for an additional request from the Client, unless the Client has informed Wallester via the Wallester System that the Client declines the issue of the replacement Card. Such notification must be provided at least 45 days before the Card expires.

5.6.7. 5.6.10. Wallester may close and destroy a new Physical Card if it has not been possible to deliver the Physical Card to the Client in accordance with the Agreement (including if the Client is not present or the Client does not accept the Card at the agreed location).

5.6.8. 5.6.10. Wallester may close a new Physical Card or Virtual Card if the Client has not activated the Card within 3 months of issuance.

5.6.9. 5.6.10. Wallester does not refund the Fees paid by the Client in connection with issuing and delivering the Cards that are destroyed and/or closed in accordance with Clauses 5.6.7 and 5.6.8.. The Client’s obligations provided in Clause 5.7.4. apply.

5.6.10. 5.6.10. All Cards are the property of Wallester and are made available for the Client to use. At no point is ownership of the Card transferred to the Client.

5.7. 5.8. Expired and closed cards

5.7.1.5.7.4. The Card is valid until the last day (inclusive) of the calendar month indicated on the Card unless the Card is closed before its expiry date.

5.7.2.5.7.4. An expired or closed Card is invalid and cannot be used to perform Operations.

5.7.3.5.7.4. The Card may be closed:

5.7.3.1.5.7.3.2. by the Client at their own discretion in the Wallester System,

5.7.3.2.5.7.3.2. by Wallester, if such option is provided in the Agreement.

5.7.4.5.7.4. The Client must destroy the Physical Card immediately after the Card is closed or expires. The Client shall not attempt to perform Operations with closed or expired Cards.

5.8.5.8. Lost and stolen Cards

5.8.1.5.8.6. The provisions of this Clause 5.8 apply both in cases where:

5.8.1.1.5.8.1.2. the Physical Card has been lost by or stolen from the Client,

5.8.1.2.5.8.1.2. unauthorised persons have gained access to the Means of Authentication linked to the Card, regardless of whether it concerns the Physical Cards or the Virtual Cards.

5.8.2.5.8.6. The Client’s obligations provided in Clause 5.8 apply whether the Client is convinced, or at least has reason to believe, that the Card is lost or stolen.

5.8.3.5.8.6. If the Card is lost or stolen, the Client shall use the quickest option available to block the Card, including:

5.8.3.1.5.8.3.2. the Client immediately blocks the Card in the Wallester System and informs Wallester about the possibility that the Card has been lost or stolen,

5.8.3.2.5.8.3.2. Client informs Wallester via email, phone or other means published on the Wallester Website about the lost or stolen Card, which results in Wallester blocking the Card.

5.8.4.5.8.6. After receiving information about the lost or stolen Card, Wallester blocks the Card without delay during the working hours of Wallester’s customer support, which are published in the Wallester System.

5.8.5.5.8.6. If the Client discovers after the Card is blocked that the suspicion regarding the Card being lost or stolen was unfounded, the Client can request the reopening of the Card if Wallester has not already closed the Card in accordance with the Agreement.

5.8.6.5.8.6. If within 60 days after the Card was blocked the Client has not closed the Card nor requested its reopening, Wallester may close the Card.

6. Additional services

6.1.6.2. Client-to-Client Payments

6.1.1.6.1.7. The Client-to-Client Payments Service provides the Client with the option to send funds to the accounts of other clients who use the Services provided by Wallester, which have been added to the list of Services accepted to receive funds via the Client-to-Client Payments Service.

6.1.2.6.1.7. Wallester may provide an option to perform currency conversion as part of the Client-to-Client Payment. Wallester establishes the list of acceptable currencies at its sole discretion and may update it from time to time.

6.1.3.6.1.7. Wallester may establish a Fee for currency conversion in the Price List (including exchange rates and/or a per-Transaction Fee). Even if Wallester has not established a currency conversion Fee in the Price List, if the banks holding Wallester’s accounts with the Client’s funds charge currency conversion or other transaction fees for a Transaction performed by the Client, Wallester will deduct the respective amounts from the sums transferred by the Client. Clients can request information regarding these fees from Wallester’s customer support.

6.1.4.6.1.7. The Client initiates the payment in the Wallester System using the phone number or other unique identification data of the recipient, as specified in the Wallester System.

6.1.5.6.1.7. The payments are generally received, executed and fulfilled instantly, but no later than the maximum deadline provided in § 728 of LoOA, unless there are circumstances which cause suspension or delay of the transaction in accordance with the Agreement.

6.1.6.6.1.7. The Client is responsible for the accuracy of the data used in the payment order, including the identification data of the recipient. Once the Client approves the payment order in the Wallester System, it cannot be cancelled. The transferred sum can only be refunded upon the recipient’s approval. The Fees paid by the Client to Wallester for the transaction are non-refundable.

6.1.7.6.1.7. Wallester may establish restrictions regarding the accepted Transactions, including the types of allowed recipients.

6.2.6.2. Digital Wallet

6.2.1.6.2.6. The Digital Wallet Service is provided by third-party companies accepted by Wallester. Wallester may, at its sole discretion, add or remove Digital Wallet service providers from the list of accepted service providers.

6.2.2.6.2.6. Wallester may set additional requirements regarding the Clients who can use the Digital Wallet Service and/or the Cards which can be used via the Digital Wallet Service.

6.2.3.6.2.6. To use the Digital Wallet Service, the Client must enter into a contractual relationship with the provider of the specific Digital Wallet Service. Wallester is not a party to that contractual relationship and cannot resolve possible disputes between the Client and the provider of the Digital Wallet Service. The provider of the specific Digital Wallet Service may require payment of Fees to use the Digital Wallet Service.

6.2.4.6.2.6. Unless explicit exceptions are provided, this Agreement applies to Operations performed with the Card, regardless of whether they are performed directly or via the Digital Wallet Service. This includes the Client’s obligation to keep the Means of Authentication safe from unauthorised use by applying effective security measures to protect the device through which the Digital Wallet Service is used.

6.2.5.6.2.6. Wallester has no control over the following, and the Client therefore accepts this as the Client’s risk:

6.2.5.1.6.2.5.3. the contractual terms and the Fees that the provider of the Digital Wallet Service has established,

6.2.5.2.6.2.5.3. whether a Merchant accepts payments via the Digital Wallet Service,

6.2.5.3.6.2.5.3. Possible failures in the systems that provide the Digital Wallet Service which may result in rejected or delayed Operations,

6.2.6.6.2.6. Any complaints against the provider of the Digital Wallet Service must be resolved between the Client and the provider of the Digital Wallet Service.

7. Fees and arrears

7.1.7.8. Unless Wallester explicitly states that a Service is provided for free, it is presumed that Services are provided to the Client for a Fee. The Fees for the Services and the Service bundles are detailed in the Price List, which is published on the Wallester Website and in the Wallester System.

7.2.7.8. If the Parties agree that Wallester provides Services that are not in the Price List or performs other actions that benefit the Client, the Fee is agreed by the Parties separately. If no Fee is agreed beforehand, Wallester is entitled to request payment of a Fee which is standard for such services.

7.3.7.8. If Wallester exchanges the Client’s funds into another currency in accordance with the Agreement and no Fee is provided for that transaction in the Price List, the exchange is performed by the bank where Wallester deposits the Clients’ funds at the bank’s then-applicable exchange rate. Wallester does not apply an additional Fee to such transactions. The Client will see the exchange rate on the account statement.

7.4.7.8. Wallester deducts the Fees from the funds in the Client’s Account unless a different payment setup is provided in accordance with the Agreement. If a different payment setup has been provided but the Client has not fulfilled its obligations by the due date, Wallester may deduct the unpaid fees from the funds in the Client’s Account.

7.5.7.8. If the Client holds several currencies in the Accounts, funds in the same currency are used first. If these are insufficient, the Fee is deducted from funds in other currencies, in which case Wallester reserves the right to convert the deducted funds into the currency of the unpaid Fee. If there are insufficient funds in the Client’s Account to pay the Fee, the outstanding amount is deducted from funds the Client later deposits into the Account.

7.6.7.8. Wallester may decline to provide the Service if there are insufficient funds in the Client’s account to pay the Fee for the requested Service.

7.7.7.8. The Client must pay interest and/or contractual penalties if the Client does not fulfil its obligations towards Wallester in due time, provided that Wallester has established such interest rates and contractual penalties in the Agreement.

7.8.7.8. Wallester has the right to set off its claims against the Client’s claims and to determine the claims to be set off. Wallester has the right to assign claims against the Client to a third party.

8. Blocking

8.1.8.6. General

8.1.1.8.1.2. Blocking means the full or partial suspension of the Service, meaning the following:

8.1.1.1.8.1.1.2. full blocking — all the Services to which the Client has subscribed are blocked for the Client, including all the Cards issued to the Client and all Operations and Transactions initiated by the Client. During full blocking, the Client cannot subscribe to new Services.

8.1.1.2.8.1.1.2. Partial blocking — only certain Services, Features, Cards, Operations, Transactions or other components of the Service are suspended.

8.1.2.8.1.2. Blocking is executed either by Wallester, which covers all types of blocking, or by the Client, which is limited to blocking the Client’s Cards.

8.2.8.6. Blocking by the Client

8.2.1.8.2.2. The Client can at any time block all valid Cards issued by Wallester to the Client.

8.2.2.8.2.2. The Client can block the Card at any time via the Wallester System. The Client must immediately block the Card if such an obligation is set out in the Agreement (see Clause 5.8).

8.3.8.6. Blocking by Wallester

8.3.1.8.3.3. Wallester blocks the Service, Feature, Account, Card, Operation and/or Transaction if there is a valid reason in accordance with the Agreement, or if the Client requests the blocking.

8.3.2.8.3.3. Based on the circumstances of the specific event that causes the blocking and the information available to Wallester at the time, Wallester decides the extent and duration of the blocking. The Parties understand that the information available to Wallester at the time of making this decision may not be complete, and based on additional information that becomes available later, Wallester may revise the decision. Regardless of this, if Wallester made the initial decision in good faith and with due care, Wallester has acted in compliance with the Agreement.

8.3.3.8.3.3. If Wallester has fully blocked the Service due to an act or omission attributable to the Client, Wallester may request payment of a special Account maintenance fee for the duration the full block remains in force, to cover the expenses incurred by Wallester in maintaining the closed Account and the sums within it. This includes situations where Wallester has requested information and/or documents from the Client in accordance with the Agreement, but the Client has not fulfilled the request by the set deadline.

8.48.6. Grounds for blocking

8.4.1.8.4.2. Wallester may block the Service if Wallester reasonably suspects that any of the following has occurred:

8.4.1.1.8.4.1.8. the Client has failed to fulfil its obligation to inform Wallester of changes regarding the Client’s status in accordance with Clause 2.3.3 and the respective change is not insignificant (e.g. it affects the Client’s risk profile),

8.4.1.2.8.4.1.8. the Client has provided false information or falsified documents to Wallester in connection with the Agreement,

8.4.1.3.8.4.1.8. the purpose of an Operation or a Transaction is in breach of the allowed use in accordance with the Agreement or the law (e.g. the Service is used to cover business expenses or to pay for prohibited goods or services),

8.4.1.4.8.4.1.8. the Client or a person associated with the Client has participated in money laundering, terrorist financing or other criminal offence (e.g. fraud) or of aiding and abetting such an offence,

8.4.1.5.8.4.1.8. the Client, a person associated with the Client or a Transaction initiated by the Client is in violation of applicable Sanctions),

8.4.1.6.8.4.1.8. the Client uses the Service in a fraudulent, illegal or improper manner (incl. in violation of the purpose of the Service),

8.4.1.7.8.4.1.8. The funds in the Client’s Account have been obtained illegally,

8.4.1.8.8.4.1.8. The Client is deceased.

8.4.2.8.4.2. In addition to what is provided in Clause 8.4.1, Wallester may block the Service in the following cases:

8.4.2.1.8.4.2.7. the Client’s Account does not contain enough funds to fulfil the Client’s financial obligations towards Wallester and the Client has not added funds despite such notice from Wallester,

8.4.2.2.8.4.2.7. the Client has not provided the information, documents or permissions requested by Wallester in compliance with the Agreement,

8.4.2.3.8.4.2.7. the Client has provided contradictory information to Wallester which needs to be clarified,

8.4.2.4.8.4.2.7. blocking is necessary to prevent damage to Wallester, the Client or a third party,

8.4.2.5.8.4.2.7. Wallester cannot contact the Client using the contact information provided by the Client,

8.4.2.6.8.4.2.7. the Client has requested blocking,

8.4.2.7.8.4.2.7. Other reasons provided in the Agreement or by law

8.5.8.6. Seizure

8.5.1.8.5.2. In the event of a seizure, a third party (e.g. a court, bailiff or tax authority) provides mandatory instructions to Wallester in accordance with the law regarding how the blocking of the Client’s Account or Services shall be performed. In such a case, Wallester has no authority over the extent, duration and other terms of the blocking.

8.5.2.8.5.2. When blocking due to seizure, Wallester verifies the extent of the blocking from the appropriate document presented to Wallester by the seizing authority (e.g. decision, order, injunction, enforceable court judgment). Wallester applies only the blocking measures which are mandatory in accordance with the presented document.

8.6.8.6. Follow-up actions

8.6.1.8.6.4. Blocking is a temporary state of the Service which ends either with:

8.6.1.1.8.6.1.2. reopening of the blocked Service, Feature, Account or Card or completing the blocked Operation or the Transaction or

8.6.1.2.8.6.1.2. permanent closure of the blocked Service, Feature, Account or Card or cancellation of the Operation or the Transaction.

8.6.2.8.6.4. Only Wallester can end blocking, including reopening the Cards which have been blocked by the Client.

8.6.3.8.6.4. Wallester decides when to end a block once it has sufficient information to determine the next course of action. Wallester determines any follow-up actions at its sole discretion.

8.6.4.8.6.4. As an exception to Clause 8.6.3, if the blocking is applied due to seizure, Wallester removes the block immediately after receiving a request from the person who requested the seizure or other competent authorities.

9. Maintenance

9.1.9.4. From time to time, Wallester carries out maintenance work on the Wallester System, which may cause a temporary interruption to the functioning of all or certain Services or Features.

9.2.9.4. Wallester schedules planned maintenance work during periods when Service usage volumes are lower and provides the Client with reasonable advance notice.

9.3.9.4. In the event of extraordinary circumstances, Wallester has the right to carry out unplanned maintenance work to prevent damage to the Client, Wallester or third parties. In such a situation, it may not be possible to take Service usage volume into account when scheduling, nor to provide prior notice to the Client.

9.4.9.4. For the duration of the maintenance work, Wallester’s obligations towards the Client under the Agreement regarding the provision of the Service are deemed suspended.

10. AML/CTF and sanctions

10.1.10.4. In accordance with the law, Wallester must apply appropriate measures to prevent money laundering and terrorist financing and to apply Sanctions. For this purpose, Wallester may:

10.1.1.10.1.3. regularly verify the identity of the Client and obtain additional documents and information from the Client (incl. residency, tax residency),

10.1.2.10.1.3. Request documents and information about the activities of the Client and of third parties related to the Client (incl. counterparties, transactions), as well as documents and information about the origin of the Client’s assets or wealth,

10.1.3.10.1.3. Require the Client to provide other documents and information necessary for the application of due diligence measures and Sanctions

10.2.10.4. Wallester’s right to request permission from the Client to obtain information and documents directly from external sources (see Clause 2.3.4) also applies to the information and documents referred to in this Clause 10.

10.3.10.4. If the Client does not provide the information, documents, or permissions that Wallester has requested in accordance with this Clause 10, Wallester may apply the same restrictive measures to the Client as those provided for cases where money laundering or terrorism financing activities have been verified, or if Sanctions apply to the Client.

10.4.10.4. The mandatory provisions in law have priority over the terms in this Agreement. Therefore, if Wallester follows mandatory legal requirements that contradict the terms in this Agreement, Wallester is not deemed to have breached the Agreement (e.g. the law may require that Wallester does not return the funds in the Account to the Client if the Agreement is terminated due to Sanctions applied to the Client).

12. Intellectual property

12.1.12.1. Unless Wallester provides a specific regulation regarding Materials protected by intellectual property rights (e.g., copyrights, trademarks, patents), the following applies to the Client’s use of such Materials:

12.1.1.12.1.3. the Client is granted a non-exclusive licence to use the Materials, no intellectual rights are transferred to the Client,

12.1.2.12.1.3. the Materials can be used solely for the purpose for which they are made available by Wallester to the Client,

12.1.3.12.1.3. The licence to use the Materials terminates upon termination of the Agreement.

13. Confidentiality

13.1.13.2. Wallester does not disclose any information relating to the performance of this Agreement to any third party unless it is necessary to fulfil Wallester’s obligations to the Client as provided in the Agreement or by law.

13.2.13.2. Wallester has the right to disclose information about the contractual relationship (including Transactions, Operations, Accounts and Cards) to third parties that have the right to receive information in accordance with mandatory law, and to third parties that are Wallester’s contractual partners in connection with providing the Service.

14. Resolution of complaints

14.1.14.3. If the Parties cannot settle the disagreement through regular communication, the Client may submit a complaint to Wallester in accordance with the Complaints Handling Procedure published on the Wallester Website.

14.2.14.3. If the Parties fail to settle the disagreement in the complaints procedure, the Client at its sole discretion can decide whether to submit a complaint to:

14.2.1.14.2.2. the Consumer Disputes Committee of the Consumer Protection and Technical Regulatory Authority (ttja.ee/en/consumer-disputes-committee) or

14.2.2.14.2.2. the Harju County Court of the Republic of Estonia (kohus.ee/en/contact-information/contact-us).

14.3.14.3. If the Client’s complaint concerns personal data processing matters, the Client can submit a complaint to the Data Protection Inspectorate of the Republic of Estonia (https://www.aki.ee/en).

15. Liability

15.1.15.6. General

15.1.1.15.1.2. The Parties perform their obligations arising out of the Agreement properly, reasonably, in good faith, with due diligence and pursuant to custom and practice.

15.1.2.15.1.2. The Parties are not liable for non-performance of an obligation if the non-performance has been caused by force majeure beyond the control of the Party in breach of the obligation and could not reasonably be expected to have been avoided. The force majeure provision in this Clause does not apply to the financial obligations of the Parties towards each other.

15.2.15.6. Limitation of Wallester’s liability

15.2.1.15.2.1. Wallester is only liable for an intentional or grossly negligent breach of Wallester’s obligations under the Agreement. Wallester is not liable for loss or damage resulting from the following:

15.2.1.1.15.2.1.11. there are insufficient funds in the Client’s Account to carry out the Operation or Transaction,

15.2.1.2.15.2.1.11. Wallester exercising due diligence measures in good faith,

15.2.1.3.15.2.1.11. There is not enough cash in the ATM where the Operation is performed,

15.2.1.4.15.2.1.11. the Terminal where the Operation was performed did not work properly,

15.2.1.5.15.2.1.11. The Merchant refuses to accept the Card,

15.2.1.6.15.2.1.11. blocking measures have been applied in accordance with Clause 8.3,

15.2.1.7.15.2.1.11. funds in the Account are the subject of legal proceedings or any other encumbrance restricts their use,

15.2.1.8.15.2.1.11. Wallester has reason to believe that the Operation or Transaction is unauthorised and is therefore delayed or cancelled,

15.2.1.9.15.2.1.11. performance of the maintenance work in accordance with Clause 9,

15.2.1.10.15.2.1.11. consequential losses incurred by the Client or for loss of income,

15.2.1.11.15.2.1.11. Wallester properly exercising its rights or fulfilling its obligations under the Agreement or as required by law.

15.2.2.15.2.2. Wallester is not liable for third parties involved in performing Operations, for goods or services paid for with the Card, and in cases where acceptance of the Card for the performance of an Operation is refused.

15.3.15.6. Unexecuted or incorrectly executed payments

15.3.1.15.3.6. If the Client as the payer initiates a payment and Wallester does not execute the payment or executes the payment incorrectly, the Client has the right to request an immediate refund of the payment amount without any deductions by Wallester. The Client has the right to require Wallester to refund the paid fees, and pay interest on arrears which the Client was charged by Wallester for the unexecuted or incorrectly executed payment or by which Wallester debited the account of the Client, if any.

15.3.2.15.3.6. Wallester is not liable under Clause 15.3.1 if Wallester proves that the payment amount reached the payee’s payment service provider. In such a case, the law requires the payee’s payment service provider to make the payment amount available to the payee.

15.3.3.15.3.6. If the payment is initiated by or through the Client who is in the role of the payee, and the payment order is unexecuted or executed incorrectly by Wallester, the Client has the right to request that Wallester immediately re-transmit the payment order to the payer’s payment service provider.

15.3.4.15.3.6. The Client does not have the rights provided in Clauses 15.5.2.1 and 15.5.2.2 if the payment order has been executed based on the unique identifier provided by the Client (e.g., in the case of Client-to-Client Payments). In this case, the Client may request Wallester to assist in recovering the payment amount to the extent possible by providing relevant information in Wallester’s possession for the submission of the recovery claim. Wallester may charge a Fee for providing this information.

15.3.5.15.3.6. Where a payment has not been executed or has been executed incorrectly, Wallester must, at the request of the Client, determine the relevant facts related to the execution of the payment transaction regardless of its liability and notify the Client of the results of the investigation.

15.3.6.15.3.6. Wallester is not liable for damage incurred by the Client from an unexecuted or incorrectly executed payment if the Client has not notified Wallester within 13 months of the date the sum for the incorrectly executed payment was debited from the Client’s Account. This deadline is extended by the number of days between debiting the sum and making that information available to the Client, if these events do not take place simultaneously.

15.4.15.6. Refund of payment initiated by or through payee

15.4.1.15.4.6. The Client has the right to require a refund from Wallester for a payment made in accordance with a payment order initiated and authorised by or through the payee if:

15.4.1.1.15.4.1.2. The exact amount was not determined at the time of authorisation of the payment transaction, and

15.4.1.2.15.4.1.2. The transferred amount exceeds the amount that the Client could have reasonably expected, considering the terms of their payment service contract, the amounts of previous payments and other circumstances.

15.4.2.15.4.6. The burden of proof regarding the circumstances named in clause 15.4.1 lies with the Client.

15.4.3.15.4.6. Upon application of Clause 15.4.1.2, the Client cannot rely on reasons related to the exchange rate if the currency exchange has been performed in accordance with this Agreement.

15.4.4.15.4.6. Regardless of whether the conditions of Clause 15.4.1 are met, the Client has the right to demand a refund of the payment in the case of the direct debits specified in Article 1 of Regulation (EU) No 260/2012 of the European Parliament and of the Council.

15.4.5.15.4.6. The Client has no right to a refund if the Client has given Wallester consent for the execution of the payment transaction and, where applicable, if Wallester or the payee has notified the Client of the future payment transaction or has made the information concerning the future payment transaction available in an agreed manner (in the case of Wallester, within the Wallester System) no less than 4 weeks before the execution of the payment transaction.

15.4.6.15.4.6. The Client has the right to receive the refund provided for in this Clause 15.4 only if the Client submits a refund claim to Wallester within 8 weeks of the payment amount being debited.

15.5.15.6. Unauthorised payments

15.5.1.15.5.4. If an unauthorised payment has been executed using a lost or stolen Card, the Client bears the risk for the resulting damage, but the Client’s liability is limited to a maximum of €50.00.

15.5.2.15.5.4. The limitation of liability of the Client provided in Clause 15.5.1 does not apply, and as a result, the Client bears the risk of the entire damage resulting from the unauthorised payment if at least one of the following applies:

15.5.2.1.15.5.2.3. The unauthorised payment involves fraud by the Client,

15.5.2.2.15.5.2.3. the Client, deliberately or due to gross negligence, has breached the requirements in the Agreement regarding (a) keeping the Card and the Means of Authentication safe from unauthorised third parties and (b) the issue and use of the Card,

15.5.2.3.15.5.2.3. the Client has not promptly informed Wallester about the theft or loss of the Card,

15.5.3.15.5.4. Unless the Client acts fraudulently, the Client shall not bear the risk provided in Clause 15.5.1 if at least one of the following applies:

15.5.3.1.15.5.3.4. the unauthorised payment with the Card is made after the Client has informed Wallester about the theft or loss of the Card in accordance with the Agreement,

15.5.3.2.15.5.3.4. the damage was caused by acts or omissions of Wallester or its agent,

15.5.3.3.15.5.3.4. the loss or theft of the Card was not detectable to the Client prior to execution of the unauthorised payment,

15.5.3.4.15.5.3.4. Wallester did not require Strong Authentication as a precondition for making the unauthorised payment.

15.5.4.15.5.4. Wallester is not liable for any damage incurred by the Client from an unauthorised payment if the Client fails to notify Wallester within 13 months of the date the sum was debited from the Client’s Account. The deadline provided herein is extended by the number of days between the sum being debited and that information being made available to the Client, if these events do not occur simultaneously.

15.6.15.6. Contractual penalties

15.6.1.15.6.3. Wallester has the right to demand a contractual penalty in the event of the following infringements of the Agreement by the Client:

15.6.1.1.15.6.1.7. does not provide information that Wallester has requested in accordance with the Agreement (Clause 2.3.1 and 10.1),

15.6.1.2.15.6.1.7. has not fulfilled the obligation to inform Wallester of material changes regarding the Client Data, especially in connection with data relevant to the application of AML/CFT and sanctions-related due diligence measures (Clause 2.3.3),

15.6.1.3.15.6.1.7. the Client does not grant approval to request information from third parties (Clause 2.3.4),

15.6.1.4.15.6.1.7. has knowingly provided false information to Wallester, especially in connection with data relevant to the application of AML/CFT and the Sanctions-related due diligence measures,

15.6.1.5.15.6.1.7. has misused the Services (incl. Clauses 2.1.2, 4.1, 5.2.1, 5.3.12, 5.5.1.2, 5.5.1.3),

15.6.1.6.15.6.1.7. as a result of breaching the obligation to keep the Means of Authorisation safe (Clause 5.5.1.4) or to inform Wallester of a lost or stolen Card (Clause 5.8.3), has caused a situation resulting in unauthorised payments by unauthorised third parties and damage to Wallester,

15.6.1.7.15.6.1.7. Has committed another infringement of the Agreement which is not insignificant.

15.6.2.15.6.3. For each of the violations listed in Clause 15.6.1, Wallester has the right to demand a contractual penalty of €500.00 for every instance of infringement. In the case of ongoing infringements, Wallester has the right to demand a contractual penalty once every 30 days.

15.6.3.15.6.3. If the damage caused by the infringement exceeds the contractual penalty, Wallester has the right to demand compensation for damages exceeding the penalty sum paid by the Client.

16. Amendments

16.1.16.5. Wallester has the right to unilaterally amend the Agreement by providing the Client with at least two months' prior notice before the amendments enter into force.

16.2.16.5. If the Client does not agree to the amendments to the Agreement, the Client has the right to unilaterally terminate the Agreement with immediate effect by providing the termination notice before the amendment enters into force.

16.3.16.5. If the Client agrees to the amendments and wishes to continue this contractual relationship, no action or input is required from the Client.

16.4.16.5. Regardless of the Client’s intentions, if the Client has not provided a termination notice in accordance with Clause 16.2, the amendments apply to the Client from the date provided in the notice.

16.5.16.5. Wallester’s obligation to provide prior notice under Clause 16.1 and the Client’s right to extraordinarily terminate the Agreement under Clause 16.2 do not apply if the change is caused by a reduction in the price of the Services, a change in other terms of the Agreement that is more favourable to the Client (including the granting of additional rights to the Client) or the addition of new Services to the Price List.

18. Termination

18.1.18.3. Termination for convenience

18.1.1.18.1.3. The Client has the right to terminate the Agreement for convenience at any time by providing one month’s notice to Wallester.

18.1.2.18.1.3. Wallester has the right to terminate the Agreement for convenience at any time by providing two months' prior notice to the Client.

18.1.3.18.1.3. In case of termination for convenience, the Party terminating the Agreement does not have to provide a reason for the termination.

18.2.18.3. Termination for cause

18.2.1.18.2.2 Wallester has the right to terminate the Agreement for cause without obligation to provide prior notice to the Client (extraordinary termination) in the following cases:

18.2.1.1.18.2.1.12. an investigation conducted by Wallester confirms the occurrence of an act or an event listed in Clause 8.4.1 or there remains a reasonable suspicion which cannot be eliminated,

18.2.1.2.18.2.1.12. the Client has not fulfilled its financial obligations towards Wallester despite a grace period provided by Wallester,

18.2.1.3.18.2.1.12. the Client has not provided the information, documents or permissions that were requested by Wallester in compliance with the Agreement despite a grace period provided by Wallester,

18.2.1.4.18.2.1.12. Wallester has closed the Client’s Card in accordance with Clause 5.6.7,

18.2.1.5.18.2.1.12. The Client has not performed Operations or Transactions for 90 days,

18.2.1.6.18.2.1.12. The Client or a person associated with the Client has caused, intentionally or due to gross negligence, whether by act or omission, damage or a serious risk of damage to Wallester,

18.2.1.7.18.2.1.12. the Client has failed to perform a material obligation under any agreement with Wallester and there is compelling reason to assume that the Client continues to fail to perform its contractual obligations,

18.2.1.8.18.2.1.12. an event has occurred which, in the reasonable opinion of Wallester, may impede the Client’s ability to properly perform the obligations under the Agreement or have a material adverse effect on the Client’s financial condition (e.g. bankruptcy or liquidation proceedings),

18.2.1.9.18.2.1.12. the risks associated with the Client are beyond Wallester’s risk appetite,

18.2.1.10.18.2.1.12. It is unreasonably difficult or impossible to apply due diligence measures provided by law regarding the Client or persons associated with the Client,

18.2.1.11.18.2.1.12. other material breach of the Agreement by the Client,

18.2.1.12.18.2.1.12. The cause for termination is provided in law, including if a competent authority demands termination in accordance with mandatory law.

18.2.2.18.2.2. Prior to terminating the Agreement for cause, Wallester carefully considers all the circumstances and makes the decision based on the principle of reasonableness.

18.3.18.3. Post-termination obligations

18.3.1.18.3.8. Upon termination of the Agreement, the Client’s Accounts and Cards are closed, and provision of the Services is terminated. The financial obligations accrued before the termination of the Agreement become due from the moment the Agreement is terminated.

18.3.2.18.3.8. The Client must provide Wallester with external bank account details to which Wallester will transfer the funds from the Client’s Account. The bank account provided by the Client must accept the currency of the Client’s Account (s) from which Wallester transfers the funds.

18.3.3.18.3.8. Wallester has the right to refuse to transfer the funds to an account other than the Client’s account opened with a credit institution registered or established in a European Economic Area member state.

18.3.4.18.3.8. In accordance with the law, Wallester applies AML/CFT and Sanctions due diligence measures to the external bank account provided by the Client. Wallester may require additional information from the Client to perform these checks. Wallester is obliged to transfer the funds only to an external bank account that has been approved following the application of these due diligence measures.

18.3.5.18.3.8. Wallester deducts the following from the funds in the Client’s Account before transferring the remaining funds to the Client’s external account:

18.3.5.1.18.3.5.3. sums of any outstanding Operations or Transactions that are completed after the moment of termination,

18.3.5.2.18.3.5.3. the balance of the financial obligations of the Parties towards each other, provided that the Client has, in total, more obligations towards Wallester,

18.3.5.3.18.3.5.3. the expenses in connection with the transfer of funds to the Client’s external account

18.3.6.18.3.9. Wallester transfers the funds to the Client’s external account within 30 days of termination or receiving complete and acceptable account data from the Client, whichever is later.

18.3.7.18.3.9. Wallester makes payments from the deceased Client’s Account on the basis of a certificate of succession and/or ownership, other documents required by law, or a relevant court decision.

18.3.8.18.3.9. If the Agreement has been terminated and:

18.3.8.1.18.3.8.2. The Client has not provided details of the external bank account that complies with the requirements of the Agreement within 30 days of the termination of the Agreement, or

18.3.8.2.18.3.8.2. the law prohibits Wallester from transferring the Client’s funds to the external bank account (e.g., Sanctions are applied to the Client),

18.3.8.18.3.8. Wallester may periodically deduct sums from the Client’s closed Account to cover expenses incurred by Wallester in connection with preserving the closed Account and the sums within it. Wallester provides detailed information regarding the deducted sums before exercising the right set out in this Clause.

18.3.9.18.3.9. The confidentiality obligations provided in the Agreement survive the termination of the Agreement.