PRELIMINARY INFORMATION AND CONDITIONS REGARDING PAYMENT TRANSACTIONS

1.- About RIA 

Ria Payment Institution EP, SAU (hereinafter referred to as “RIA” or “we”), with company registration number (CIF) A-80696792 and registered office at Calle Cantabria 2, 28108, Alcobendas, Madrid (Spain), has been a payment institution authorised by the Spanish Ministry of Economy and Finance since 28 July 2011 and is authorised to provide payment services through its payment agents in Hungary. RIA’s authorisation number issued by the National Bank of Spain is 6842 (details of RIA’s authorisation are available on the website www.bde.es ). RIA can be contacted by post at its registered office as indicated here or by telephone (+36 (1) 245 5143).

The purpose of these General Terms and Conditions is to establish the rights and essential obligations between RIA and its clients in the provision of payment services regulated by Act LXXXV of 2009 on the Provision of Payment Services (hereinafter: the “Pft.”), so that the execution of Payment Transactions based on the orders received by RIA from the Sender for execution (hereinafter: “Individual Payment Orders”) shall be carried out by signing individual contracts setting out the individual conditions applicable to the given payment service, where applicable.

These General Terms and Conditions apply exclusively to private individuals using RIA's money transfer service for purposes other than income-generating or professional activities.

BY ACCEPTING THESE TERMS AND CONDITIONS, YOU AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, PLEASE DO NOT USE OUR SERVICES. THESE TERMS AND CONDITIONS CONSTITUTE A LEGALLY BINDING AGREEMENT AND IT IS IMPORTANT THAT YOU TAKE THE TIME TO READ THESE TERMS CAREFULLY.

2.- Definitions

The following terms used in these General Terms and Conditions have the meanings given below:

“Date of Receipt”: the day on which the Individual Payment Order is deemed to have been received as defined in the first paragraph of Section 8.1 below;

“Individual Payment Order” has the meaning set out in the second paragraph of Section 1 above;

“EEA” means the European Economic Area;

“Payment Service Provider”: we, or a natural or legal person who provides payment services as a third party, or an agent acting on our behalf, who pays the Payment Transaction initiated by the Sender to the Beneficiary in the destination country specified by the Sender;

“Sender”: the person who gives an Individual Payment Order for the payment of Funds to the Beneficiary;

“Terms” means the set of rules set out in this document and any other document attached to or incorporated by reference into this document;

“Payment Transaction”: an operation initiated by the Sender or, where applicable, the Beneficiary, which may be a deposit, transfer or withdrawal of Funds, regardless of the underlying obligations between the two;

“Effective Date” has the meaning set forth in the third paragraph of Section 3 of these General Terms and Conditions;

“IBAN”: the international bank account number defined in point 5(v) below;

“Beneficiary” means a person to whom the Sender intends to send Funds, who is not an excluded natural person to us (under applicable law or any previous Payment Transaction), and who receives the funds transfer through a designated Payment Service Provider, by bank transfer to their bank account or (where applicable) through our home delivery service;

“Business Day”: a day on which the relevant payment service provider of the Sender or the payment service provider of the Beneficiary involved in the execution of the Payment Transaction is open in the manner necessary for the execution of the Payment Transaction;

“Money Transfer”: a payment service that allows the receipt of funds from the Sender without a payment account opened in the name of the Sender or the Beneficiary, for the sole purpose of transferring the corresponding amount to the Beneficiary or to another payment service provider acting on behalf of the Beneficiary;

“Funds”: (i) the amount received by RIA in connection with the receipt of funds from the Sender, including fees and costs related to the Payment Transaction; and (ii) the amount of Funds received from the Sender in connection with the making available to the Beneficiary, less any applicable fees and costs, payable to the Beneficiary;

“Pft.”: has the meaning set out in the second paragraph of point 1 above;

“RIA” or “we” has the meaning given to it in the first paragraph of Section 1 above;

“Intermittent Shipping Service”: the service available to Customers, detailed in Section 8.5 below;

“Transaction Data” has the meaning set out in the fifth paragraph of Section 3 of these General Terms and Conditions.

“Client”: in the event that RIA acts as a payment service provider, in relation to the “consumer” the Sender, the Beneficiary or both, who acts for purposes unrelated to their income-generating or professional activities;

“Protected Funds” has the meaning set out in Section 8.3 of this document; and

“Relevant Data Protection Legislation”: the regulation referred to in the first paragraph of point 11;

3.- Scope and modification

These General Terms and Conditions apply to the following payment services provided in Hungary:

· Money transfer

We may amend these General Terms and Conditions from time to time to comply with legal or regulatory requirements or due to changes in market conditions.

If we modify these Terms and Conditions in any way, we will do so by email and/or by posting the revised version of these Terms and Conditions on the same website where these Terms and Conditions are located. We will also notify you of the date on which any changes will be effective (“Effective Date”).

Amendments to these General Terms and Conditions will generally only apply to Individual Payment Orders placed after the Effective Date, but will also apply to Individual Payment Orders placed before the Effective Date if required by law or regulation. For the sake of clarity, the updated version of these General Terms and Conditions will in all cases supersede all previous versions.

4.- Customer procedure

When using any product or service related to Payment Transactions, the Customer is considered a “consumer” under applicable law.

Our obligations under these General Terms and Conditions are conditional upon our acceptance of you as a Customer, acting at our sole discretion, in accordance with the regulations relating to payment services and the fight against money laundering and the financing of terrorism, and we reserve the right to refuse to provide you with payment services without giving any reason. You shall promptly provide any information and documentation that we may request from you at any time in order to comply with the legal requirements relating to payment services, including those required by the regulations relating to money laundering and the financing of terrorism, and you consent to us contacting you for this purpose.

5.- Information obligations prior to the execution of the Payment Transaction

The Sender and the Beneficiary shall provide RIA with the following information and documentation as determined by RIA from time to time:

(i) full name, surname, identity document and other data used to identify the Sender and the Beneficiary;

(ii) the destination country of the Payment Transaction;

(iii) the amount and currency of the Payment Transaction;

(iv) reason for transfer (choose from the following options: family support, trade, donation/gift, debt/loan/mortgage repayment, immigration-related transfer, savings, medical expenses, salary and travel);

(v) in the case of a Payment Transaction to the Beneficiary's bank account, the international bank account number ("IBAN"), if the bank account has an IBAN code, or, where applicable, the bank account number is also appropriate.

(vi) depending on the destination country:

• the type of relationship with the Beneficiary;

• a Proof of Funds; and/or

• any other information that we may request from time to time for transfers to that country; and

(vii) any other information or documentation that may be requested from time to time to verify information regarding the Sender and/or the Beneficiary.

The Sender declares that he/she is acting in his/her own name and that the Funds are his/her own property.

RIA may, from time to time, at its sole discretion, request additional information from the Sender and the Beneficiary in order to properly complete the Funds Transfer or to comply with applicable laws and regulations.

The Sender undertakes that when entrusting RIA with the performance of the money transfer services described in Section 3 of these General Terms and Conditions, it will verify the accuracy and integrity of the data related to the Payment Transactions, in particular the Beneficiary's identification data and the economic conditions of the Individual Payment Order receipt, which has a unique number for subsequent traceability. Such Individual Payment Order, together with the receipt and these General Terms and Conditions, constitutes an individual contract for the given Payment Transaction for the purposes of the Pft. and other relevant local legislation.

The Payment Transaction shall be deemed to have been correctly executed in relation to the specified Beneficiary if it is executed in accordance with the Individual Payment Order. Therefore, if any of the data provided by the Sender is incorrect for reasons attributable to the Sender, RIA shall not be liable for the non-execution or incorrect execution of the Payment Transaction. For the avoidance of doubt: the Sender shall not be liable for incorrect data for reasons attributable to RIA.

If the Payment Transaction is executed correctly in accordance with the Beneficiary's unique identifier, it is considered to have been executed correctly in relation to the Beneficiary specified by the unique identifier (even if the Client provides additional information in addition to the unique identifier). If the unique identifier provided to RIA is incorrect, the payment service provider is not liable for the non-execution or incorrect execution of the Payment Transaction. RIA will make reasonable efforts to recover the Funds subject to the Payment Transaction executed based on the incorrect unique identifier provided by the Client.

Based on the applicable laws and regulations, RIA may request a valid identification document for each Payment Transaction and may store a copy of the Client's identification document in optical, magnetic or electronic format to guarantee their integrity, correct reading of the data, impossibility of their manipulation, proper preservation and localization.

RIA may at any time request that the amount of the Payment Transaction be credited to the bank account it maintains.

In addition, RIA shall establish enhanced due diligence measures in accordance with local legal requirements in order to identify and better understand Customers, and in the event that the amount of Payment Transactions, either individually or in aggregate over a certain period, exceeds an amount to be determined by RIA from time to time based on compliance procedures in accordance with applicable laws.

If you have at any time chosen to receive your receipt digitally, you can change this option to receive your receipt on paper when submitting your Individual Payment Order.

6.- Costs and applicable fees

For the money transfer services provided by RIA, the Client shall pay RIA the costs and commissions set out in the receipt for each Individual Payment Order for the Payment Transaction in question. 

The Beneficiary of the Payment Transaction will be paid the full fixed amount included in each Individual Payment Order issued to the Sender, provided that the Beneficiary agrees that if RIA acts as a payment service provider, it will deduct its costs from the transferred amount before payment.  

If the Sender's or the Beneficiary's payment service provider is not RIA, the payment service provider may also charge fees and taxes in connection with the Payment Transaction.

In the event that three (3) months have passed since the receipt of the Funds for an Individual Payment Order without the Payment Transaction subject to such Individual Payment Order having been paid to the Beneficiary and without the Funds having been returned to the Sender for reasons beyond the control of RIA, RIA may charge a monthly fee on the Funds to compensate for its reasonable costs incurred in its efforts to return the outstanding Funds to the Sender and to manage the Funds while they are in its possession. The maximum fees that RIA may charge based on its costs as set out in these General Terms and Conditions are set out in the fee table at the end of these General Terms and Conditions.

The Client shall be provided with information on the General Terms and Conditions for the provision of money transfer services by RIA free of charge. However, RIA may pass on to the Client its reasonable costs incurred in connection with the withdrawal of an Individual Payment Order and the costs resulting from the recovery of the Funds of such Individual Payment Order if the Client has provided an incorrect unique identifier or in other cases specified in the General Terms and Conditions. For the avoidance of doubt, the Client shall not be liable for incorrect data due to reasons attributable to RIA.  

In the event of implicit currency conversion during the execution of the Payment Transaction, RIA shall inform the Client from time to time of the relevant exchange rates, together with the commissions applicable to the Payment Transaction, as the case may be, which exchange rates the Client shall accept by signing each Payment Order.

7.- Consent, irrevocability and withdrawal of Individual Payment Orders

Contribution:

The Sender agrees to the execution of the Payment Transaction by signing the receipt belonging to the Individual Payment Order.

RIA is not liable for the loss or misuse by the Client of the receipt issued by RIA confirming the Individual Payment Order.

Irrevocability:

The Sender may not withdraw the Individual Payment Order once it has been accepted and/or executed by RIA.

Cancelling Individual Payment Orders:

The Sender may withdraw its consent at any time before the withdrawal deadline specified above. Thereafter, the Sender may only withdraw its consent or cancel the Individual Payment Order with the approval of RIA. RIA may charge a fee proportionate to the Sender's reasonable costs incurred in connection with the withdrawal of consent or cancellation.

The Payment Transaction may not be executed if the Sender was unable or unwilling to provide the information and/or documentation necessary to complete the Payment Transaction, or if the Payment Transaction was not executed in order to comply with RIA's internal control procedures or applicable laws and regulations.

If the Sender wishes to cancel the Individual Payment Order, he/she must do so in person. RIA will take action regarding the cancellation, if possible, and only after verifying that the Payment Transaction has not been paid to the Beneficiary in the destination country.

If the Individual Payment Order is cancelled, RIA will return the Funds to the Sender via the agent, its own RIA account(s) (if any) or by crediting the Sender's bank account as agreed with it. RIA's reasonable costs incurred in connection with the cancellation will be borne by the Sender.

8.- Completion of Payment Transactions

8.1. Acceptance of Individual Payment Orders

The time of receipt of an Individual Payment Order is the moment when the Individual Payment Order and the corresponding Funds are received by RIA. If the Individual Payment Order, together with the Funds to be transferred, including any fees and costs related to the Payment Transaction, is received by RIA by 15:00 (GMT+1) on a Business Day, the Individual Payment Order will be deemed to have been received by us on that Business Day (“Receipt Date”). If the Individual Payment Order is received by us after 15:00 (GMT+1) on a Business Day, the Individual Payment Order will be deemed to have been received on the Business Day immediately following its receipt. If the time of receipt of the Individual Payment Order is not a Business Day for RIA, the Individual Payment Order will be deemed to have been received on the following Business Day.

Notwithstanding the above, RIA shall endeavour to execute the Payment Transaction subject to the Individual Payment Order immediately after it has been sent by the Sender, in which case the date of receipt referred to herein shall be replaced by an earlier execution date rendering the Individual Payment Order irrevocable in accordance with point 7 above.

RIA reserves the right to refuse to execute a Payment Transaction if the Sender does not make all Funds available to RIA prior to executing the Payment Transaction, including if the Sender initiates the Payment Transaction with a payment card, or if there is a suspicion or actual risk of fraud or security threats. In the event that RIA refuses to execute a Payment Transaction, it will notify the Sender thereof and, if possible, the reasons for this, as well as what it must do to correct any errors that led to the refusal, unless such notification is prohibited by any applicable law or regulation.

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

For each Individual Payment Order, we provide the Sender with the following information in the form of a receipt, either in paper or electronic form:

(i) a reference number that allows the Sender to identify the Payment Transaction and the Beneficiary;

(ii) a PIN code that is unique for each Payment Transaction;

(iii) the amount of the Payment Transaction in the currency specified in the Individual Payment Order;

(iv) confirmation of any customer fees and/or costs related to the Payment Transaction that the Sender must pay;

(v) the exchange rate used by us to complete the Payment Transaction and the amount of the Payment Transaction after currency conversion (if the Payment Transaction involves currency conversion); and

(vi) the date of receipt of the Individual Payment Order.

(collectively, the “Transaction Data”).

8.2. Duration and value date of performance

a) Scope. The parties expressly agree that the provisions on the performance period and value date shall only apply to (i) Payment Transactions denominated in euro or (ii) Payment Transactions involving only a single conversion between the euro and the currency of a non-euro area EEA Member State, provided that the necessary conversion takes place in the non-euro area Member State concerned and, in the case of cross-border Payment Transactions, the cross-border transfer is made in euro.

b) Payment Transactions in which the Client is the Sender. With regard to Payment Transactions in which the Client acts as the Sender, RIA shall ensure that the amount of the Payment Transaction is credited to the account of the Beneficiary’s payment service provider no later than the end of the Business Day following the receipt of the Individual Payment Order. In the case of an Individual Payment Order processed on paper, these deadlines shall be extended by one Business Day.

c) Payment Transactions in which the Client is the Beneficiary. In the case of Payment Transactions in which the Client is the Beneficiary, RIA shall make the Funds subject to the Payment Transaction available no later than on the Business Day on which the Funds were received from the Sender's payment service provider.

In the case of a Payment Transaction (i) to a country outside the EEA, not to be paid in euros, or (ii) requiring conversion into a currency other than the currency of the EEA Member States, the Funds will be made available to the Beneficiary's Paying Service Provider no later than the end of the fourth Business Day from the Date of Receipt.

8.3. Precautions

RIA will have a guarantee similar to an insurance policy, provided by an insurance company, which serves to protect the funds transmitted by the payer during the payment transaction. This guarantee complies with the conditions set out in Article 16 of Royal Decree 736/2019, of 20 December 2019, on payment services and payment institutions. Once RIA has received the funds resulting from the “Individual Payment Order”, regardless of whether the funds were received directly from the Client or from another payment service provider (hereinafter referred to as “Protected Funds”), RIA will ensure that these Protected Funds are protected by a guarantee equivalent to the guarantee provided by an authorised insurance company or an authorised credit institution. The protection of Protected Funds lasts as long as they are in the possession of RIA, i.e. until they are received by the Beneficiary or made available to the Beneficiary's payment service provider. Protected Funds are not covered by the protection of the Deposit Insurance Fund.

8.4. Payment of Individual Payment Orders

The Funds that are the subject of a Payment Transaction are paid to the Beneficiary through our Payment Service Providers in accordance with our compliance procedures and the payment methods available in each destination country. In the case of a payment in banknotes, the Beneficiary must contact the Payment Service Provider designated in the destination country to collect the amount of the Payment Transaction, after presenting the Transaction Details and a valid identification document valid in the destination country to the satisfaction of the Payment Service Provider. Acceptable forms of identification vary depending on the country in which the Beneficiary is receiving the Funds. Our International Payment Network is entitled to withhold payment if our compliance procedures necessary to process the payment are not fully complied with.

IF YOU ARE ACTING AS A SENDER, YOU MAY NOT PROVIDE THE TRANSACTION DATA (WHETHER IN REDACTED FORM OR OTHERWISE) TO ANYONE OTHER THAN YOUR CHOSEN BENEFICIARY. YOU SHALL ALSO DO ALL YOU CAN TO ENSURE THAT NO ONE OTHER THAN YOUR CHOSEN BENEFICIARY HAS ACCESS TO THE TRANSACTION DATA OR ANY PART OF IT. IF YOU DIRECTLY OR INDIRECTLY PROVIDE TRANSACTION DETAILS TO A PERSON OTHER THAN YOUR CHOSEN BENEFICIARY, WE WILL NOT BE LIABLE FOR PAYING THE MONEY TO A PERSON OTHER THAN THE BENEFICIARY WHO PROVIDES THE TRANSACTION DETAILS TO THE PAYMENT PROVIDER AND PROVES THEIR IDENTITY IN A MANNER CONSIDERED VALID BY THE PAYMENT PROVIDER.

8.5. Intermittent Sending Service

RIA may make the Intermittent Shipping Service available to Shippers who wish to use this service. With this service, Shippers can use the RIA application (available on iOS and Android operating systems) to perform Payment Transactions by setting up the Payment Transaction in the application and then, after setting up, paying by cash or credit card on the same Business Day to an RIA agent who has the Intermittent Shipping Service.

To use the Intermittent Sending Service, the Sender must register with the RIA application after downloading it, providing the personal data required by the RIA at that time. Such data may include, among others, the Sender's first and last name, email address, Sender's nationality, date of birth, occupation, referral code or telephone number. Furthermore, the initiation of the setup of any Intermittent Sending Service Payment Transaction via the RIA Application requires the provision of the Individual Payment Order and all necessary details of the Beneficiaries to whom the Sender intends to send the Funds Transfer, including but not limited to the country to which the Funds are being sent, the Beneficiary's details (name, surname, citizenship and/or identity document, etc.), the amount to be sent (in euros), the amount to be received by the Beneficiary (in the specified local currency), the method of receipt by the Beneficiary (which includes the entities that can make payments to the specified Beneficiary in the country in which the Beneficiary receives the Funds) or the method of payment of the Payment Transaction by the Sender. The Sender may cancel the Individual Payment Order during its setup. Based on the information provided during the setup of the Individual Payment Order, RIA will notify the Sender of the cost of the Payment Transaction before the Sender begins to validate the Payment Transaction.

During the registration process in the RIA application and the setting up of the Individual Payment Order, the RIA may ask the Sender to authenticate the mobile device used by him/her by sending an SMS to the specified mobile phone number by filling in the appropriate fields within the RIA application. In both cases, before executing the Payment Transaction, the Sender must accept the Privacy Policy and the General Terms and Conditions. By default, the RIA saves the Beneficiaries specified by the Sender. After the Payment Transaction has been set up and validated by the RIA and the Sender, the Sender receives a barcode identifying the newly set up Individual Payment Order. The Sender can then access the list of RIA agents in the application at which he/she can have his/her Funds that are the subject of the Payment Transaction paid out. In both cases, RIA indicates the amount to be paid to the Beneficiary in local currency and the amount to be collected by the Beneficiary at the destination, in the former case detailing the costs of the Payment Transaction charged by RIA to the Sender. To complete the Payment Transaction, the Sender must visit one of the authorized locations of the RIA agent network providing the Intermittent Sending Service, present the barcode of the Individual Payment Order and a valid and current identity document in accordance with the relevant regulations. After the RIA agent has verified all this information, the agent confirms to the Sender that he can proceed with the payment of the Payment Transaction. After payment, the Sender receives a receipt for the Payment Transaction from the agent or through the RIA application. If requested by the agent, the Sender must sign the receipt of the Individual Payment Order. In the event that the RIA provides an electronic receipt, the Sender does not need to sign the receipt and will only receive a cash receipt from the RIA agent, and the Sender must log in to the RIA application if he wishes to access the receipt of the Individual Payment Order. All Intermittent Sending Service Payment Transactions, after validation and consent via the RIA application, must be deposited before 23:59 on the same Business Day. If the Sender does not deposit the Payment Transaction, the Individual Payment Order will be automatically cancelled. RIA recommends that the Sender check the agent’s opening hours before visiting the agent.

9.-Payment Transactions requiring currency conversion and exchange services

RIA shall provide the Sender with the exchange rates applicable to Payment Transactions. The exchange rates shall always be communicated to the Sender before finalizing the submission of the Individual Payment Order. The exchange rates shall also be included in the settlement receipt.

Payment to the Beneficiary of a Payment Transaction for an Individual Payment Order issued by the Sender shall be made in the currency and payment method available through RIA (e.g. in cash or by crediting the Beneficiary's bank account), in accordance with the agreement between RIA and the Sender. If the Beneficiary agrees with its service provider to convert the amount to be paid into another currency or to change the payment method, such transaction shall be concluded separately from the Individual Payment Order sent by RIA and solely between the Beneficiary and its service provider.

RIA reserves the right to reject and prevent immediate execution of any Individual Payment Order that requires further investigation based on its internal regulatory controls.

10.- Unauthorized or irregularly executed Payment Transactions

If the Client becomes aware that an unauthorised or irregular Payment Transaction has been carried out, he/she shall notify RIA of this fact without undue delay in order to have the correction carried out by RIA’s customer service (contact details provided in Section 15 below). RIA may require the Client to provide information relating to the Payment Transaction and/or any other information requested by RIA for identification purposes.

Except in cases where RIA has not provided or made available to the Client the information regarding the Payment Transaction, the information referred to in the previous point must be provided no later than thirteen (13) months from the receipt by RIA of the amount of the Payment Transaction or its payment to the Beneficiary.

If RIA acts as the Sender's payment service provider:

- in the event of an unauthorised Payment Transaction for which RIA is liable under applicable law, RIA shall refund to the Sender the amount of the unauthorised Payment Transaction without delay, but no later than the end of the Business Day following the day on which it detected or became aware of the Payment Transaction, unless RIA has reasonable grounds to suspect fraud and reports this in writing to the competent national authority. In such cases, RIA shall restore the Sender's debited bank account/payment account to the state in which it would have been if the unauthorised Payment Transaction had not taken place.

- in the event of incorrect execution or non-execution of the Payment Transaction attributable to RIA, RIA shall immediately refund the amount of the incorrect Payment Transaction to the Sender or, where applicable, restore the Sender's debited bank account/payment account to the state it would have been in if the incorrect Payment Transaction had not taken place.

If RIA acts as the Beneficiary's payment service provider and in the event of an incorrect execution of the Payment Transaction attributable to RIA, RIA shall immediately make the amount of the incorrect Payment Transaction available to the Beneficiary or, where applicable, credit the corresponding amount to the Beneficiary's payment account.

RIA shall reimburse the Client for all costs or commissions charged, as well as any applicable interest to which the Client is entitled based on the unauthorised Payment Transaction, the incorrect or delayed execution or non-execution. The Client may claim further compensation if he is entitled to do so against RIA under applicable law.

RIA is not liable for any incorrect, delayed or non-execution of the Payment Transaction in the event of extraordinary and unforeseeable circumstances beyond RIA's control that RIA could not avoid or prevent, or if RIA is bound by other legal obligations prescribed by European Union or applicable national law.

11.- Data protection

 For the purposes of this clause, “controller”, “personal data”, “data processing” and “data subject” shall have the meaning given to them in accordance with the EU General Data Protection Regulation (GDPR) (2016/679) and the data protection laws and requirements applicable to the parties in the various EU Member States in relation to these General Terms and Conditions (“Applicable Data Protection Laws”).

RIA acts as a data controller with respect to the personal data it processes in connection with the services provided under these General Terms and Conditions.                                                                                                                          

Our privacy policy, available at www.riamoneytransfer.com , contains further information on how RIA may process the Client's personal data, what types of personal data it may collect, how it uses, transfers and protects such personal data, what data protection rights the Client has, and how the Client can contact RIA regarding issues concerning its privacy practices.     

The Client acknowledges and agrees that his/her personal data may be transferred, transmitted or stored by RIA, its group companies or third parties to the extent that such transfer, transmission or storage is reasonably necessary or desirable for the purpose of undertaking or fulfilling the obligations under these General Terms and Conditions. The Client’s personal data may also be transferred outside the European Economic Area to countries where the legislation may not provide the same level of data protection as the country where the personal data was originally collected. In such cases, RIA will implement the necessary mechanisms to ensure that the transferred personal data is provided with an adequate level of protection in accordance with the Applicable Data Protection Legislation.  

Notwithstanding the above, RIA will treat all information related to the Payment Transactions and other operations of the Clients confidentially, without transferring such information to third parties, except when necessary for the performance of the payment services specified in point 3 above, or when applicable laws and regulations allow the transfer of such information to third parties, including - without limitation - government agencies, or in the framework of fulfilling obligations set out in laws on the prevention of money laundering and terrorist financing. This provision shall apply without prejudice to the provisions set out in the Applicable Data Protection Laws.

12.- Changes beyond our control

We will not be liable if we are unable to perform our obligations to you or if we are late in performing any of our obligations due to circumstances beyond our reasonable control, including (without limitation) any strike, act of God, fire, flood or storm, war, riot, civil commotion, siege, security alert, act of terrorism or precautions taken in connection therewith, vandalism, sabotage, virus, malicious damage, compliance with any statutory, legal, governmental or judicial order, action or direction by the police or any governmental or regulatory body authorising us to provide payment services, power outage or power outage, failure of equipment, systems or software provided by third parties or of the internet connection, malicious cyber attacks against our information technology systems, including computer viruses, ransomware and other cyber attacks, or any disruption in any financial market. an extraordinary fluctuation that may materially adversely affect our ability to provide payment services or our obligations under applicable law. If any of these circumstances occur, we will suspend these Terms and Conditions for the period that the circumstances persist or, at our sole discretion and for your and our protection, terminate these Terms and Conditions.

13.- Limitation of liability

Our total liability to you in relation to a Payment Transaction is limited to the total amount of the Funds that are the subject of the Payment Transaction, together with any fees you may incur and any interest you may incur as a result of the non-performance or improper performance of the Payment Transaction.

If we breach the requirements imposed on us by applicable law (which imposes certain obligations on us as a payment service provider, including those relating to unauthorised, failed and incorrectly executed Payment Transactions), we are not liable to you if this is due to extraordinary and unforeseeable consequences beyond our control which were unavoidable despite all our efforts to the contrary, or if this is due to other obligations imposed on us by other provisions of European Union or applicable national law.

Notwithstanding any other provision of these Terms and Conditions, we do not exclude our liability for death or personal injury caused by our negligence or that of our employees or agents, fraudulent misrepresentation or any other liability that cannot be excluded under applicable law.

14.- Applicable laws and language

These General Terms and Conditions and Payment Transactions related to Individual Payment Orders are governed by Hungarian law. In the event of a legal dispute, the Client or RIA may initiate legal proceedings before the competent Hungarian court.

The language of contractual relations between RIA and the Client is Hungarian.

15. - Customer service and complaints

We value all of our customers and take our responsibilities seriously. For Payment Transactions, you can contact our customer service staff at the following contact details:

RIA CUSTOMER SERVICE :

C/ Cantabria 2
28108, Madrid
Spain
Tel.: +3612455143

At your request, we will provide you with these General Terms and Conditions and the information specified in Section 10 of the Pft. on paper or on another durable medium.

In order to resolve any dispute, the Client must submit his/her complaint verbally (for which a record shall be made) (i) at any RIA Customer Service facility (including the facilities of RIA agents) or (ii) by telephone at +3612455143, or in writing by post to the Customer Service Representative of RIA PAYMENT INSTITUTION, EP, SAU, Calle Cantabria 2, 28108, Alcobendas, Madrid (Spain); or by email to ceec@riamoneytransfer.com .

Customer Service will respond to a complaint submitted by the Client within a maximum of fifteen (15) Business Days from the date of receipt of the complaint, unless exceptional circumstances (of which RIA will notify the Client within this period) require the final response to be extended by a maximum of thirty-five (35) Business Days from the date of receipt of the complaint. Further details of RIA’s complaint handling process can be found at www.riamoneytransfer.com .

In the event that RIA has rejected the complaint submitted to its customer service representative, or the aforementioned response deadline has expired without the aforementioned customer service having responded, the Client may file a complaint with the following bodies:

(i) Banco de España (web: www.bde.es )

 By post to the following address:
Banco de España
Departamento de Conducta de Mercado y Reclamaciones (Commercial and Complaints Department)
C/ Alcalá 48, 28014 Madrid, Spain
Tel.: (+34) 900 54 54 54 / (+34) 91 338 8830

(ii) Hungarian National Bank
1013 Budapest, Krisztina körút 39, Hungary

Reports of violations of applicable local laws (including consumer protection laws) and any complaints can be submitted to the Financial Consumer Protection Center of the Hungarian National Bank (i) by post, at the central mailing address of the Financial Consumer Protection Center of 1534 Budapest (Pf.: 777); (ii) by telephone at 06 80 203 776; (iii) by e-mail at ugyfelszolgalat@mnb.hu ; or by filling out the electronic form on the website of the Hungarian National Bank ( www.mnb.hu ).

MAXIMUM FEES

The current fees of Ria Payment Institution EP, SAU (hereinafter: RIA) are not subject to any review by the Bank of Spain, they are MAXIMUM fees and apply to all Clients, both consumers and non-consumers, with RIA reserving the right to apply lower fees to its Clients for any of the items indicated.

1.- ADDITIONAL SERVICES

Note 1: Cancel, modify or return money transfers

In order to execute the Payment Transaction ordered by the Sender, RIA will take the necessary steps to cancel, modify or attempt to revoke the Individual Payment Order.

If the measures taken involve costs charged by third parties and these costs are reasonable, we will pass these on to the relevant Client, even if the said measures were unsuccessful for reasons beyond the control of RIA.

Note 2: Payment Transactions with Incomplete or Incorrect Data

The absence of any of the data required for the execution of the Payment Transaction shall not entail any additional fees for the Client, although RIA shall pass on to the Client the reasonable costs incurred by it due to measures (unsuccessfully taken for reasons not attributable to it) to (i) obtain the data required for the execution of the Payment Transaction as specified in Section 8.2, or (ii) recover the Funds from third parties if the Payment Transaction has already been executed but has not yet been paid to the Beneficiary due to incorrect or incomplete data, or (iii) recover the Funds to the Sender in the event of a Payment Transaction not executed due to incorrect or incomplete data.

Note 3: Balance Management

In the event that the funds received from the Sender remain in RIA’s possession and the money transfer transaction (i.e. payment to the Beneficiary) is not completed within three (3) months and the funds are not returned to the Sender for reasons beyond RIA’s control, RIA is entitled to charge a monthly fee on such funds. This monthly fee is intended to compensate RIA for the costs incurred in handling the funds and taking reasonable steps to return them to the Sender.