PRELIMINARY INFORMATION AND GENERAL TERMS AND CONDITIONS APPLICABLE TO PAYMENT TRANSACTIONS

ONE.- About RIA

Ria Payment Institution E.P., S.A.U. (hereinafter, RIA), with registration number (CIF) A- 80696792, was authorised by the Ministry of Economy and Treasury of Spain as a Payment Institution on 28 July 2011 and is authorised to provide payment services in Finland through its payment services agents in Finland. RIA holds license number 6842 with Bank of Spain (RIA´s license details can be accessed at www.bde.es). RIA may be contacted by post at its head office address indicated herein, by phone (+34 91 7613760) or by email at TitularServicioCliente@riafinancial.com.

The purpose of these General Terms and Conditions is to establish the rights and essential obligations between RIA and its customers in the provision of payment services regulated in the Payment Services Act (290/2010, as amended), to request the execution of Payment Transactions by signing, where appropriate, the respective individual contracts establishing the specific conditions applicable to the specific payment service in question (hereinafter, the "Individual Payment Orders").

TWO.- Definitions

The following terms used throughout these Terms and Conditions shall have the meaning and scope indicated below:

 “Beneficiary” means a person intended to receive funds from a Sender.

"Business Day" means any day on which, for the purposes necessary for the execution of a Payment Transaction, the Sender    or Beneficiary's payment service providers involved in the execution of the Payment Transaction are open for business.

“Customer” means, (i) in the context of a "consumer",  a natural person who, in payment service contracts, acts for purposes unrelated to his economic, commercial or professional activity; and (ii) in the context of a "Non-consumer", a natural or legal person who, in payment service contracts, acts in the development of his economic, commercial or professional activity.

“Money Remittance” means a payment service that allows funds to be received from a Sender without creating a payment account in the name of the Sender or the Beneficiary, for the sole purpose of transferring an equivalent amount to a Beneficiary or to another payment service provider that acts on behalf of the Beneficiary, or funds to be received on behalf of the Beneficiary and making them available to the Beneficiary;

“Payment Transaction” means an action, initiated by the Sender or by the Beneficiary, as the case may be,  consisting of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the two; and

“Sender” means a person who gives a Payment Transaction instruction for the payment of funds to a Beneficiary.

THREE.- Scope of application

These General Terms and Conditions apply to the following payment services that are provided in Finland:

·         Money Remittance.

FOUR.- Actions of the Customers

When contracting any product or service associated with Payment Transactions, the Customer shall be considered a “consumer” or “non-consumer” as provided by applicable regulations..

FIVE.- Information obligations prior to the issuance of a Payment Transaction

The information that the Sender must provide to RIA, as determined by RIA from time to time, may include without limitation the following:

Data relating to the Sender:

Natural persons: Full name, surnames, valid and in force identification number, type of document used in the identification (ID card, passport or valid and in force identification document of the country of origin that includes photograph and signature), nationality and, where the Sender is not a Finnish national and does not have a Finnish identification number, a copy of the passport or other valid travel document, profession, date of birth, valid postal address, telephone, source of wealth and funds as well as the purpose for which the Payment Transaction is made.

Legal persons: Articles of Association, Trade Register Extract, Corporation Tax Code. When beginning the relationship, information will be requested on the shareholding and control structure of the company.

The Sender undertakes to verify the accuracy and integrity of the data relating to the Payment Transactions it orders RIA to perform, the execution of any of the payment services described in Section Three of these Terms and Conditions, especially as regards the identification details of the Beneficiary and the economic terms of the Individual Payment Order, an order that will have a unique number for future tracking or a unique identifier. Such Individual Payment Order together with these Terms and Conditions form, for the purposes of the Payment Services Act, the individual contract that will govern that Payment Transaction.

When a Payment Transaction is executed in accordance with the instructions received from the Sender and recorded in the Individual Payment Order, it will be considered to have been correctly executed in relation to the specified Beneficiary. Therefore, should any of the data provided by the Sender be incorrect, RIA will not be responsible for the non-execution or defective execution of the Payment Transaction.

In accordance with Chapter 3 Section 3 of the Act on Preventing Money Laundering and Terrorist Financing (444/2017, as amended), RIA will store the information provided by the Customer, including identification and other personal data, which data may be used to prevent, reveal and detect money laundering and terrorist financing as well as in the subsequent investigation of money laundering or terrorist funding or the criminal acts based on which any asset or benefit has been gained.

RIA may request at any time for the amount of the Payment Transaction to be credited into a bank account held by RIA.

Furthermore, enhanced due diligence measures for the identification and better knowledge of the Customers will be adopted in accordance with local law requirements but also in any case when the amount of a Payment Transaction, either individually or accumulated for a certain period exceeds that other amount to be determined by RIA from time to time in accordance with its compliance procedures in line with applicable laws.

In the event that you have at any time selected digital delivery of your receipt, you can select to change this option to receive your receipt in paper form at the time of submitting an Individual Payment Order.

SIX.- Expenses and applicable fees

For RIA´s provision of payment services,including Money Remittance, the Customer, whether acting as Sender or as a Beneficiary, must pay RIA the expenses and commissions applicable to the Payment Transaction in question in accordance with the settlement that is carried out in the Individual Payment Order.

The Beneficiary of a Payment Transaction will be paid the full amount recorded in the receipt of the Individual Payment Order delivered to the Sender, it being understood that the Beneficiary agrees  when RIA acting as its payment service provider for RIA  to deductits expenses from the amount transferred before paying it.

If the payment service provider of the Sender or Beneficiary is different from RIA, such payment service provider may charge fees and taxes associated with the Payment Transaction.

Any Payment Transaction not  paid to the Beneficiary within twenty one (21) calendar days from  the date of receipt of the Individual Payment Order (the “Maximum Payment Period”) for reasons out of RIA´s control (for example, if the beneficiary fails to collect the funds in destination or the impossibility to payout a Payment Transaction to comply RIA with a legal obligation)  shall be cancelled and RIA will notify to the Sender of such event/s at the earliest unless prohibited by applicable laws. Notwithstanding the foregoing, if after two (2)  months following the end of the Maximum Payment Period the respective funds are not reimbursed to the Sender  (for example, if after the cancellation notification received from RIA, the Sender fails to present himself/herself to obtain the reimbursement at the premises where the Payment Transaction was originated ), RIA  may charge a monthly fee against such funds for the purpose of compensating RIA for those reasonable costs incurred by RIA in connection with RIA´s efforts to reimburse the Sender the outstanding funds and  RIA´s management of the funds while in its possession. The maximum fees applicable by RIA for those costs incurred by RIA as provided herein are set out in the fees table at the end of these Terms and Conditions.

Information regarding the Terms and Conditions for RIA´s provision of payment services, including Money Remittance, is provided free of charge to the Customer. However, RIA may pass on to the Customer the expenses caused by the revocation of Payment Transactions and those that arise from the recovery of funds for Payment Transactions with an incorrect beneficiary identifier.

The exchange rates applicable, as the case may be, to the currency conversion implicit in the Individual Payment Order will be made available to Customers along with the commissions applicable to the Payment Transaction from time to time and will be accepted by the Customer with the signature of each Individual Payment Order.

SEVEN.- Consent, irrevocability and revocation of Individual Payment Orders.

Consent:

The consent of the Sender to the execution of a Payment Transaction is provided by signing the corresponding Individual Payment Order.

RIA is not responsible for the loss or misuse by the Customer for the document evidencing the Individual Payment Order as provided by RIA.

Irrevocability:

The Sender may not revoke an Individual Payment Order after received by RIA and sent to the paying service provider.

When the Individual Payment Order has been initiated by or through the Beneficiary, the Sender may not revoke the Individual Payment Order once the Individual Payment Order or consent to execute the Payment Transaction has been transmitted to the Beneficiary.

Revocation of the Individual Payment Order:

The Sender may withdraw consent at any time prior to the dates of irrevocability indicated above. RIA may charge expenses for the revocation of the Sender's consent as agreed with the Sender for any Individual Payment Order.

Payment Transactions may not be executed if the Sender was unable or refused to provide the required information and/or documentation or when this was necessary under the internal control procedures of RIA or in compliance with applicable laws and regulations.

When a Sender wishes to revoke an Individual Payment Order, he/she must appear in person at the establishment where he/she ordered it with the respective Individual Payment Order receipt. Only after verifying that the Payment Transaction has not been paid at the destination country to a Beneficiary, RIA shall proceed with the revocation.

If a Payment Transaction is cancelled, RIA will reimburse the funds to the Sender through the agent, through its own RIA store/s or through a deposit into the Sender's bank account.

EIGHT.- Execution of Payment Transactions

8.1. Receiving of Individual Payment Orders

The time of receipt of an Individual Payment Order shall be that at which it is received by RIA. If the time of receipt is not a Business Day for RIA, the Payment Transaction will be deemed to have been received the following Business Day.

Payment Transactions will be executed when the Sender has placed sufficient funds at the disposal of RIA.

RIA reserves the right to refuse the execution of a Payment Transaction if, prior to the execution of a Payment Transaction, the Sender does not provide RIA with all funds, including where the Sender lacks sufficient funds in the payment account for the execution thereof. In the event that RIA rejects the execution of a Payment Transaction, it will notify the Sender of said refusal and, if possible, the reasons for it, as well as the procedure to rectify possible errors that led to such refusal, unless any applicable law or regulation prohibits such notification.

Rejected Individual Payment Orders will not be considered as received for the purposes of Section 8.2, below.

Individual Payment Orders initiated on paper shall be deemed received on the following Business Day.

8.2. Term of execution and value  date

a) Scope of application.- it is expressly agreed that the provisions regarding the execution period and value date will only be applied to Payment Transactions made (i) in euros or (ii) converted from euros to a different currency of a country of the European Union in which both payment service providers are located in the European Union.

b) Payment Transactions in which the Customer is the Sender. In relation to Payment Transactions in which the Customer acts as Sender, RIA will ensure that the amount of the Payment Transaction is paid into the account of the Beneficiary's payment service provider, at the latest, at the end of the Business Day following the time of receipt of the Individual Payment Order. If the time of receipt is not a Business Day, the Payment Transaction will deemed to have been received during the following Business Day. These periods are extended by one Business Day if the Individual Payment Order is given on paper.

c) Payment Transactions in which the Customer is the Beneficiary. In the case of Payment Transactions in which the Customer is the Beneficiary, RIA will make available the funds of the Payment Transaction immediately and no later than the Business Day on which the funds have been received from the Sender's payment service provider. This also applies where both the Sender and the Beneficiary are RIA's Customers.

Payment Transactions in which any of the payment service providers are located outside the European Union are not subject to the above provisions regarding execution date and value date unless otherwise provided herein. In these cases, the execution deadlines will depend on the Beneficiary's payment service provider, with RIA undertaking to perform the transaction (only as the Sender's payment service provider) within a maximum period of three Business Days from the Business Day following the receipt of the Payment Transaction order.

8.3. Impossibility of executing a Payment Transaction

In the event that funds received from Senders or received through another payment service provider to be paid to the Beneficiary are in RIA's possession at the end of the Business Day following the day they were received, they will be deposited in a separate account in a credit institution or will be invested in safe, liquid and low risk assets as established by applicable laws and regulations.

8.4. Staged Sending Service

RIA may provide a Staged Sending Service. With this service, the sender can use the RIA app (available for iOS and Android) to set up a payment transaction, and later, on the same business day, the payment transaction is paid in cash or by credit card at an RIA payment agent with a Staged Sending Service. After downloading the Staged Sending Service application, the sender must register and provide the information required by RIA. Required information may include: the sender's first and last name, email address, nationality, date of birth, occupation, preference code or phone number. In order to set up a Staged Sending Service payment transaction in the RIA application, it is necessary to provide all the information required for this purpose, including the details of the beneficiaries to whom the remittance is to be addressed, in addition to the country of destination, the beneficiary's details (name, surname, nationality and/or ID), the amount sent (in euros), the amount received by the beneficiary (in local currency), the method of payment to the beneficiary (which includes the receiving locations where the payment of funds can be made to the beneficiary) and the payment method of the sender's transaction. The sender may cancel the payment transaction during its creation. RIA shall inform the sender of the price of the payment transaction, according to the information provided at the time of its creation, before confirming the payment transaction. In order to register with the RIA application and to set up the payment transaction, RIA may require the sender to validate the mobile device used by sending an SMS to the mobile device to be entered in a text field in the RIA application. In any case, the sender must agree to the privacy policy and terms and conditions before making any transactions. RIA stores the beneficiaries added by the sender. Once the generated transaction is validated by RIA and the sender, the sender receives a barcode for the transaction. The sender can then view, via the application, a list of RIA payment agents where the funds can be paid. The RIA will indicate the amount to be paid to the beneficiary in local currency and the amount received by the beneficiary in the country of destination, specifying in the first case the transaction costs that the RIA will charge to the sender. To complete the payment transaction, the sender must go to an authorised RIA payment agent providing the Staged Sending Service, show the transaction barcode and a valid legal ID. The RIA payment agent confirms the information and the sender can complete the transaction. Once the payment is made, the RIA payment agent issues a receipt for the transaction or the receipt is obtained through the RIA application. The payment agent may ask the sender to sign the receipt of the payment transaction. If RIA sends an electronic receipt, the sender does not need to sign the receipt and the RIA payment agent only issues a cash receipt. The sender receives the transaction receipt via the RIA application. All Staged Sending Service payment transactions confirmed and accepted via the RIA application will be paid on the same business day before noon. 23:59. If the sender does not pay the transaction, the transaction is automatically cancelled. RIA recommends that the sender checks the payment agent's hours of operation before going to the address.

NINE.- Payment Transactions involving currency conversion and currency exchange services

RIA will make available to its Senders  the currency exchange rates applicable to Payment Transactions. Changes in exchange rates will be applied immediately and without prior notice, based on variations in the reference exchange rates. Changes in the exchange rates used in Payment Transactions shall be applied and calculated in a neutral manner and shall not be discriminatory with respect to users of payment services. In any event, the exchange rates shall be communicated to Senders prior to the Sender´s acceptance to issue a Payment Transaction order and will be included in the Individual Payment Order that includes the settlement thereof.

Payment of the amount to the Beneficiary of the Payment Transaction ordered by the Sender will be made in cash or by crediting the amount to the account in the corresponding currency according to the country of destination, unless due to the agreement with the Sender and/or commercial relationship that RIA maintains with the Beneficiary's correspondent or payment service provider it may be paid using a different payment method and/or in a currency different from that of the destination country.

At any event, RIA reserves the right to reject any Individual Payment Order and the execution of Payment Transaction that, in accordance with applicable law or its internal regulatory controls, requires additional verifications preventing the immediate execution thereof.

TEN.- Payment Transactions not authorised or executed improperly

When the Customer is aware that an unauthorised or improperly executed Payment Transaction has taken place, it must communicate this fact without undue delay to RIA in order to proceed with the correction.

Except in those cases in which RIA has not provided or made available to the Customer the information corresponding to the Payment Transaction, the communication referred to in the preceding section must occur within a maximum period of thirteen (13) months from the debit or payment date, as the case may be, of the amount of the Payment Transaction.

When RIA is acting as the payment service provider of the Sender, -      in case of an unauthorised Payment Transaction RIA will immediately refund to the Sender the amount of the unauthorised Payment Transaction and in any event no later than by the end of the following business day, after noting or being notified of the transaction, except where RIA has reasonable grounds for suspecting fraud and communicates those grounds to the relevant national authority in writing.

ELEVEN.- Data Protection

RIA´s Privacy Policy (available by clicking on the “Privacy Policy” link on www.riafinancial.com) sets out the terms on which RIA processes any personal data collected from Customers, or that Customers otherwise provide or have provided to RIA.

TWELVE.- Applicable legislation

The legal relationships detailed in these Terms and Conditions are governed by their own clauses and the individual agreements reflected in the Individual Payment Orders and, for matters not provided for therein, by the Payment Services Act and any other applicable Finnish law and regulation.

For any questions or concerns about a Payment Transaction executed with RIA or these Terms and Conditions, you may contact RIA´s Customer Service at:

RIA CUSTOMER SERVICE:

Armégatan 40, 5 tr
171 71 Solna
Sweden.
Tf 0080026500000
E-mail infofi@riafinancial.com

Customers must submit their complaints addressing any dispute, in writing (i) in person at any of the offices of RIA PAYMENT INSTITUTION, E.P., S.A.U; (ii) by post to the attention of the Customer Service Representative of RIA PAYMENT INSTITUTION, E.P., S.A.U., Calle Cantabria 2 - 2º, A - 1, Alcobendas 28108; or (iii) by e-mail to TitularServicioCliente@riafinancial.com.

The Customer Service Department will reply to the complaints submitted by Customers within a maximum period of fifteen (15) Business Days of receipt of the complaint, unless for exceptional circumstances (to be notified by RIA to the Customer within such period) the deadline of the final reply needs to be extended to no more than one (1) month from the receipt of the complaint.

In the event that the complaint  filed with the Customer Service Representative of RIA was rejected or the above mentioned period to reply has elapsed without the aforementioned Customer Service Department having answered, the Customer may submit its claim to the Banking Services Customer Service Ombudsman (through the Claims Department) by post to Banco de España, Departamento de Conducta de Mercado y Reclamaciones, C/ Alcalá 48, 28014 Madrid; or through the Virtual Office of the Bank of Spain.

Where the Customer is a consumer, the Customer has the opportunity to contact the local alternative dispute resolution body regarding a dispute that the Customer has not been able to resolve directly with RIA. The Customer is encouraged to contact the local dispute settlement body listed below for more detailed information about the procedure:

The Consumer Complaints Board*
PL 306
00531 HELSINKI
www.kuluttajariita.fi

MAXIMUM FEES

The current fees of Ria Payment Institution E.P., S.A.U. (hereinafter, RIA) are not subject to any type of review by the Bank of Spain, are the MAXIMUM and apply to all Customers, both consumers and non-consumers, with RIA reserving the right to apply lower fees to its Customers for any of the items outlined.

1.- ADDITIONAL SERVICES

Cancellation, modification or return of money remittances (Note 1)

Fees: The expenses that arise for RIA will be passed on to the respective Customer.

Money Remittances with insufficient or incorrect data (Note 2)

Fees: The expenses that arise for RIA will be passed on to the respective Customer.

Balance management (Note 3)

Fees: € 3.00/month

Note 1. Cancellation, modification or return of Momeny Remittances.

RIA will take the necessary steps to execute a Payment Transaction order issued by the Sender in order to cancel, modify or attempt to withdraw a Payment Transaction order.

If the actions carried out involve expenses charged by third parties, these will be passed on to the respective Customer even if said actions were unsuccessful for reasons not attributable to RIA.

Note 2. Payment Transactions with insufficient or incorrect data.

The omission of any of the data necessary for executing a Payment Transaction will not entail charging an additional fee to the respective Customer thereof, although the costs incurred by RIA for any steps taken to obtain the details necessary to execute the Payment Transaction will be passed on to the respective Customer, even if the said steps are unsuccessful for reasons not attributable to RIA, as well as the expenses that arise for RIA for the recovery of the funds if it is not finally possible to pay the Payment Transaction or if RIA decides not to locate the non-existent, incomplete or incorrect data and return the funds to the respective Customer or its payment service provider.

Note 3. Balance management.

Any Payment Transaction not  paid to the Beneficiary within twenty one (21) calendar days from  the date of receipt of the Individual Payment Order (the “Maximum Payment Period”) for reasons out of RIA´s control (for example, if the beneficiary fails to collect the funds in destination or the impossibility to payout a Payment Transaction to comply RIA with a legal obligation)  shall be cancelled and RIA will notify to the Sender of such event/s at the earliest unless prohibited by applicable laws. Notwithstanding the foregoing, if after two (2)  months following the end of the  Maximum Payment Period the respective funds are not reimbursed to the Sender  (for example, if after the cancellation notification received from RIA, the Sender fails to present himself/herself to obtain the reimbursement at the premises where the Payment Transaction was originated ), RIA  may charge a monthly fee against such funds for the purpose of compensating RIA for those reasonable costs incurred by RIA in connection with RIA´s efforts to reimburse the Sender the outstanding funds and  RIA´s management of the funds while in its possession.