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 and head office located at Calle Cantabria 2, 28108, Alcobendas, Madrid (Spain), is authorised by the Ministry of Economy and Treasury of Spain as a Payment Institution on 28 July 2011. 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.
RIA provides payment services by means of using agents located in Sweden, as registered by the Swedish Financial Supervisory Authority. 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 Act 19/2018, of 23 November, on payment services and other urgent related matters of financial nature (hereinafter "Payment Services Act"), to allow 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"). These Terms and Conditions comply with the Swedish Payment Services Act (Sw. lagen (2010:751) om betaltjänster) as applicable to RIA in the form of an EEA based Payment Institution providing payment services by means of using agents in Sweden.
The following terms used throughout these Terms and Conditions shall have the meaning and scope indicated below:
“Beneficiary” means a Customer 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 Customer who gives a Payment Transaction instruction for transferring funds to a Beneficiary.
THREE.- Scope of application
These General Terms and Conditions apply to the following payment services that are provided in the Swedish territory:
· Money Remittance.
FOUR.- Actions of the Customers
When contracting any product or service associated with Payment Transactions for acting RIA as the payment service provider, the Customer shall be considered a “consumer” or “non-consumer” and its actions will be agreed upon in accordance with applicable laws and regulations.
FIVE.- Information obligations prior to the execution of a Payment Transaction
The information that the Sender must provide to RIA, as determined by RIA from time to time, includes without limitation the following:
Data relating to the Sender:
Natural persons: Full name, surnames, valid and in force identification number (residence card, ID card, passport or valid and in force identification document of the country of origin that includes photograph and signature), nationality, profession, date of birth, valid postal address, telephone and purpose for which the Payment Transaction is made.
Legal persons: Deed of incorporation,Articles of Association, Certification of the Companies Registry, Corporation Tax Code and/or any other documentation determined by RIA from time to time. When beginning the relationship, information may be requested on the shareholding and control structure of the company.
In the event that the Sender acts through an agent or representative, a copy of the original identification document of the Sender must be submitted, an original identification document of the representative and a document proving the current power of attorney of the representative.
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.
RIA will store the copies of the identification documents of the Customers in optical, magnetic or electronic format to guarantee their integrity, the correct reading of the data, the impossibility of their manipulation and their adequate conservation and localisation.
The amount payable by a Customer for a Payment Transaction shall be credited into a bank account held by RIA if so directed by RIA.
Furthermore, enhanced due diligence measures for the identification and better knowledge of the Customers will be adopted in Payment Transactions whose amount, either individually or accumulated in each calendar quarter, exceeds EUR 3,000 or for any other amount and period determined by RIA from time to time or if RIA at its own discretion deems this to be necessary in specific circumstances.
In the event that you have at any time selected digital delivery of your receipt, you can 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 net amount recorded in the Individual Payment Order delivered to the Sender, after deducted, if applicable, any expenses and taxes that may have been applicable to the Payment Transaction in the destination country.
The expenses and commissions accrued in favour of the payment service provider of the other party involved in the Payment Transaction will be borne by the latter, so that the Beneficiary must only bear those expenses that were required, as the case may be, by payment service provider in destination.
For Payment Transactions in which the Customer is the Beneficiary, RIA may deduct its expenses from the amount transferred before paying it, except for those Payment Transactions initiated through RIA, in which case the total amount of the Payment Transaction will be paid, without any deduction.
In the event that three (3) months have elapsed since the receipt of funds for Payment Transactions without the payment order having been executed and the funds being returned to the Sender, RIA may charge a monthly fee to said funds for the purpose of managing the balance.
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 cancellation of Payment Transactions
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.
The Sender may not revoke a Payment Transaction order after received by RIA and sent to the paying service provider.
Cancellation of Payment Transactions:
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 cancel a Payment Transaction in person, he/she must appear 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 cancellation.
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 Payment Transactions
The time of receipt of a Payment Transaction 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 of 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.
Payment Transactions rejected will not be considered as received for the purposes of Section 8.2, below.
Payment Transactions 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 Swedish Crowns (ii) in euros (if available through RIA) or (iii) 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 RIA acts as the payment service provider of the Sender. In relation to Payment Transactions in which the RIA acts as the payment service provider of the 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 Payment Transaction 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 terms will be extended by one Business Day in the case of Payment Transactions processed on paper.
c) Payment Transactions in which RIA acts as the payment service provider of the Beneficiary. In the case of Payment Transactions in which RIA acts as the payment service provider of the Beneficiary, RIA will make available the funds of the Payment Transaction no later than the Business Day following the one on which the funds of the Sender's payment service provider have been received.
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.
8.5. Staged Sending Service
RIA may make the Staged Sending Service available to those Senders who wish to use that service. By means of this service, Senders can use the RIA application (available for iOS and Android) to execute Payment Transactions in which the transaction is configured and subsequently, once the Payment Transaction is configured, is paid via cash or credit card on the same business day to an RIA agent who has available the Staged Sending Service.
In order to use the Staged Sending Service, Senders must, after downloading the RIA application, proceed to be registered in the application by providing the personal information required by RIA at any given moment. Said information may contain, among others, the Sender's name and surnames, email address, the Sender's nationality, date of birth, profession, recommendation code or telephone number. Furthermore, to initiate the configuration of any Staged Sending Service Payment Transaction through the RIA application, it will be necessary to furnish all the required details of the Individual Payment Order as well as of those Beneficiaries to whom it is wished to send a Money Remittance, including but not limited to the country to which the Funds will be sent, the Beneficiary's details (name, surnames, nationality and/or identification document etc.), the amount to be sent (in Euros), the amount to be received by the Beneficiary (in the designated local currency), the manner of receipt by the Beneficiary (which shall include those entities which can execute the payment to the designated Beneficiary in the country where 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 configuration. On the basis of the information provided during the configuration of an Individual Payment Order, RIA will indicate to the Sender the cost of the Payment Transaction prior to the Sender proceeding to the validation of the Payment Transaction.
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. 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 Payment Transactions that, in accordance with its internal regulatory controls, requires additional verifications and prevents 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 acts as payment service provider of the Sender, RIA will immediately refund the amount of the unauthorised Payment Transaction in all those cases in which it is not possible to demonstrate that (i) the Payment Transaction was authenticated, accurately recorded and accounted for, or (ii) affected by a technical failure or any other defect.
ELEVEN.- Data Protection
TWELVE.- Applicable legislation
The legal relationships detailed in these Terms and Conditions are governed by the individual agreements reflected in the Individual Payment Orders and, for matters not provided for therein, by the Payment Services Act, Order EHA/1608/2010, of 14 June, the Swedish Payment Services Act and any other applicable Spanish or Swedish law and regulation.
RIA CUSTOMER SERVICE:
Armégatan 40, 5 tr, 171 71 Solna, Sweden.
Customers must submit their complaints, 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.
If the Customer (who is a consumer) does not agree with RIA’s response, it may also submit a claim to the Swedish National Board for Consumer Rights (Sw. Allmänna Reklamationsnämnden), Box 174, 101 23 Stockholm, Sweden. It may also initiate a case at a Swedish public court or apply for assistance by the Swedish Consumer Ombudsman. Further information on consumer rights and complaint proceedures in Sweden are available at the Swedish Consumer Agency’s website www.konsumentverket.se.
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 (or its equivalent in Swedish crowns)
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 payout the Payment Transaction as established in Section 8.2, above, 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.
In the event that funds received from Customers 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. For carrying out these procedures, and after a period of three (3) months from the receipt of funds without the Payment Transaction being executed or returning the funds to the respective Customer, RIA may charge a monthly commission against such funds.