© 2020. Holm Bank AS
Bank means Holm Bank AS.
Client is a private person using the Holm Bank’s Self-Service in accordance with the Bank’s terms and conditions.
Instructions are the instructions given by the Bank through Self-Service for using the Self-Service environments.
Password means any security code used by the Client for his/her identification or for confirming his/her Service-related transactions.
Self-Service means Bank’s online environments, including Bank’s mobile application and website designed for the Bank’s Clients for applying and managing credit products offered by the Bank and perform other operations as determined by the Bank.
Service means banking service provided by the Bank.
Service agreement is a credit agreement concluded between the Bank and the Client, and the credit-related card service agreement concluded between the payment service provider and the Client.
Transaction is an application, conclusion, performance, amendment and termination of an agreement, exchange of information, and using any other service provided by the Bank or a third person.
2.1. Using the Self-Service, the Client can:
(a) apply for credit products offered by the Bank via Self-Service;
(b) receive information about the Bank and the Bank’s products offered via Self-Service;
(c) receive information related to Service agreements concluded via Self-Service;
(d) perform his/her payment obligations arising from Service agreements;
(e) send and receive notifications;
(f) perform other operations determined and allowed by the Bank.
2.2. In order to use the Self-Service, the Client will submit the information and documents requested by the Bank. The Bank reserves the right to decide to whom and under which conditions Service is provided.
2.3. In order to register him/herself as a user of Self-Service, the Client shall verify his/her identity electronically in a manner acceptable to the Bank. The Bank may require the identification of the Client in another manner as a prerequisite for the provision of Service.
2.4. The Client shall use the identification methods required by the Bank for entering the Self-Service as a registered client.
2.6. If required by the Bank, the Client shall confirm his/her Service-related transactions with electronic signature acceptable to the Bank.
2.7. The Client is aware that any operations performed in the Self-Service on his/her behalf will be deemed valid by the Bank and will be subject to execution.
2.8. Upon using the Self-Service, the Client is obliged to follow the operating Instructions established by the Bank,
2.9. The Bank may, at any time and without prior notice, change the functionalities, design, or content of the Self-Service. The Bank will not guarantee uninterrupted functioning of the Self-Service but will notify the client of large-scale failures and maintenance or development operations, if possible. The Bank will not be held liable for any potential damages arising from failures in the operations of the Self-Service or restricted use thereof.
2.10. The Client shall immediately notify the Bank of any significant circumstances which the Bank may have legitimate interest in, incl. the following circumstances: (a) changes in the Client’s details (name, place of residence or seat, contact details, details of the identity document); (b) interruptions in the use of the Self-Service or access of third parties to the Client’s Self-Service account; (c) criminal, legal, execution, or bankruptcy proceedings initiated against the Client.
3.1. The Client may only use the Self-Service personally and on behalf of him/herself. The Client will be held liable for the operations performed in the Self-Service and for the security of the device and Internet connection used by them to access the Self-Service.
3.2. The Client shall do all in their power to protect the Passwords. The Passwords must not be recorded in an easily recognizable form. The Client must prevent the use of the Passwords by third parties.
3.3. In case the Passwords are lost or stolen, or if an unauthorized third party has gained or may gain knowledge of the Passwords, the Client shall inform the Bank immediately. In case the Client uses a digital identification certificate, the certification service provider shall be informed of the aforementioned incident as well.
3.4. Having been notified by the Client in accordance with clause 3.3, the Bank will block access to the Service until the Passwords have been changed, or until the Client has submitted an order, in a manner acceptable for the Bank, for removing the block of access to the Self-Service.
3.5. The Client shall not use the Self-Service in an unlawful manner or in a manner which may damage the Bank or a third party.
3.6. In justified cases, the Bank may block or restrict the use of Self-Service, primarily in the following cases: (a) the data submitted by the Client are incorrect or insufficient or the Client refuses to submit or update their data; (b) the Bank has suspicions of money laundering or terrorist financing or participation in organised crime in connection with the Client or a party related to the Client; (c) the Client has caused damage or a risk of damage to the Bank or violated his/her other contractual or statutory obligations to the Bank or to the payment service provider; (d) the Bank has decided to restrict the use of the Self-Service by clients with certain characteristics; (e) the Bank receives information about the risk of fraud or misuse related to Self-Service, including in case the Bank becomes aware of circumstances, pursuant to which it may be reasonably concluded that the Passwords have left the Client’s possession or the Self-Service is used by an unauthorised person; (f) on grounds arising from legislation, Service agreement or other applicable terms and conditions; (g) the Bank is notified of the Client’s bankruptcy or death; (h) the Bank is performing maintenance or development works on the Self-Service.
3.7. The restrictions will be removed within three working days after the elimination of the grounds based on which the restrictions were applied is proved in a manner acceptable for the Bank.
4.2. The Client may cancel the Self-Service agreement at any time in a format that can be reproduced in writing.
4.3. The Bank may cancel the Self-Service agreement at any time by notifying the Client thereof at least one month in advance in a format that can be reproduced in writing. The Bank may cancel the Self-Service agreement with immediate effect without a period of advance notice in the event of any of the circumstances specified in subclauses 3.6 a)–f) or if the right of cancellation derives from other applicable conditions or legislation.
4.4. Cancellation of the Self-Service agreement will not affect the performance of the rights and obligations of the parties arisen before the cancellation of the Self-Service agreement.
5.1. The Bank may regularly verify the information submitted by the Client or known about the Client to fulfil their legal obligations and request further information from the Client, regular updating of the information submitted, or repetition of the identification of the person, if required.
5.2. The Bank will send notices to the Client by post or by means of communication (e-mail, telephone), via Self-Service, or via Bank’s website. The Bank will deem accurate the contact details disclosed to the Bank by the Client. If the Client fails to notify the Bank of changes in their contact details, any messages sent to the Client will be deemed delivered if they are sent by using the Client’s last known contact details.
5.3. The Client shall send notifications to the Bank electronically, on paper, or in another manner agreed. The notifications shall be sent by using the contact details published last on the Bank’s website. If it is objectively justified, the Bank may request that notifications of legal significance are sent by the Client via Bank’s Self-Service or from the Client’s last-published e-mail address, or in an electronically signed format to ensure that such notice derives from the Client.
5.5. The parties attempt to settle any potential disputes by negotiations. Out-of-court dispute resolution is available via the Swedish National Board for Consumer Disputes (ARN); further information is available on the authority’s website, www.arn.se. A complaint can also be submitted via the EU Online Dispute Resolution website at: http://ec.europa.eu/odr. Any dispute that is not settled by means of out-of-court dispute resolution, shall be settled by the competent courts. Recommendations from an out-of-court dispute resolution authority do not limit a party’s right to take action in the competent courts. Supervision over the Bank is carried out by the Estonian Financial Supervision and Resolution Authority (Sakala 4, 15030 Tallinn; www.fi.ee).
Client satisfaction is of utmost importance for Holm Bank AS – feedback from clients helps us to offer improved service and develop better services. If you have any suggestions, questions, or complaints concerning our services or customer service, please notify us in any format convenient for you. Our contact details can be found at www.holmbank.se.
Out-of-court dispute resolution is available via the Swedish National Board for Consumer Disputes (ARN), Box 174, 101 23, Stockholm,arn.se, telephone 08 508 860 00, e-mail email@example.com. Complaints arising from a service contract entered into by using communication tools may also be filed via the EU Online Dispute Resolution website at: http://ec.europa.eu/odr.
Supervision over the Holm Bank AS is carried out by the Estonian Financial Supervision and Resolution Authority, Sakala 4, 15030 Tallinn, Estonia, www.fi.ee, telephone +372 668 0500, e-mail firstname.lastname@example.org.
Supervision over the payment service provider SIA Transact Pro is carried out by the Latvian Financial and Capital Market Commission, Kunguiela 1, Rīga, LV-1050, Latvia, www.fktk.lv, telephone +371 6 7774800, e-mail email@example.com.
Questions and complaints regarding the protection of personal data can be contacted Swedish Data Protection Authority, Box 8114, 104 20 Stockholm, www.imy.se, telephone 08 657 61 00, e-mail firstname.lastname@example.org.
1.1. The following terms in these conditions have the following meaning:
The Lender – Holm Bank AS, registration number 14080830, legal address: Posti tn 30, 90504 Haapsalu, Republic of Estonia, which according to regulatory acts of the Republic of Estonia is a credit provider. The Lender acts as an authorised representative of the Company for issuance of the Cards and processes related thereto.
Loan Agreement – an agreement concluded between the Lender and the Client that regulates their mutual legal relations, with the Lender handing out and the Client receiving, using and paying back a loan; an agreement, based on which the Lender provides loan sum availability in the Account in the form of a Credit Limit.
Suspicious Transaction – a transaction whose characteristics or details, including the sum, currency, location of the Merchant, form of Transaction formalisation and approval or other parameters meets suspicious transaction criteria specified by the Company or exceeds the limits specified by the Company that suggest the Transaction is unusual, suspicious, fraudulent or lacking in economic foundation. A Suspicious Transaction is considered a transaction which is related to or creates suspicion that it may be linked to money laundering or terrorism financing.
Authorisation – an electronic inspection process of Card data initiated by the Merchant resulting in permission from the Company to perform a Transaction.
Automated Teller Machine (ATM) – an automatic card servicing device for the provision of certain services using the Card.
Price List – a standard cost list of the Lender for the performance of certain operations at the moment of their performance, available on the homepage of the Lender’s company; among other things, it stipulates the Commission Fee amount and other applicable conditions.
CVC2/CVV2 code – a card identification code, issued with the Card and used for remote identification of the Client during the performance of a Transaction using the Card remotely.
Transaction – a financial operation initiated by the payment receiver resulting in the Client’s full or partial settlement for the Merchant’s sold product or provided service, cash withdrawal or receipt of other services using the Card.
Transaction Order – an order to execute payment for a Transaction submitted by the Client to the Company via the intermediation of the Merchant or another payment receiver.
Expiry Date – a term specified by the Company during which the Card can be used for Transactions.
EEA Transaction – a Transaction in which the relevant Merchant’s payment service applicant and payment card issuer are located in any of the united European Economic Area Member States, performed in euros or any other EEA Member State national currency.
The Company – SIA “Transact Pro”, registered in the Register of Enterprises of the Republic of Latvia with single registration number 41503033127, SEPA (Single Euro Payments Area) identificator LV86ZZZ41503033127, legal address: Kr. Valdemara Street 62, Riga, LV-1013, Latvia, website http://www.transactpro.eu/en/, electronic mail address: email@example.com. The Company is an authorised electronic money institution with the right to provide payment services (Registry number 06.12.01.416/15) and supervised by the Financial and Capital Market Commission, Latvia.
Business Day – each day of Company working hours during which the Company and the payment service provider that services payments of the Company performs actions necessary to execute Transactions. Information regarding Company’s working hours is available on its website.
Internet Office – the Client’s remote management system provided by the Lender on the individual Client’s user profile on the website of the Lender, as well as safe electronic information exchange channel between the Client on one side, and the Lender and the Company on the other.
Card Service Agreement – the Card Service Agreement concluded between the Client and the Company consisting of the Application and these Terms and Conditions and the annexes and amendments thereto. Where there are issues not regulated by the Card Service Agreement, the General Business Conditions, the international payment card organisation’s MasterCard Worldwide conditions and the legal enactments shall be applied. An up-to-date version of MasterCard Worldwide conditions is available on the MasterCard Worldwide internet website https://www.mastercard.us/en-us.html.
Card – a MasterCard branded international payment card with an individual number issued by the Company in cooperation with the Lender.
Card User – the Client in whose name the Card is issued.
Card Account, Account – a Client’s individual account opened in the system of the Company which is linked to the Card and which the Company uses for Transaction accounting and registration.
Client – a physical person and resident of the Member State (a European Union or European Economic Area state) to whom the Lender has granted a loan and who has opened an Account on the basis of an Application; the Card user.
Commission Fee – a premium specified in the Price List which the Client pays to the Lender for Services provided by the Company.
Credit Limit – the maximum amount in the currency of the loan, within which the Transactions may be performed with the Card using a loan provided by the Lender.
Parties – the Client and the Company (jointly).
Law – any law or regulation which relates to the subject matter of these Conditions to which either Party is subject.
Unusual Transaction – a Transaction characterised by unusual transaction criteria according to regulatory acts applicable for the Company.
Conditions – these Terms and Conditions of Card Use and all their annexes that are binding on Clients. An up-to-date version of the Conditions is available on the Company’s and Lender’s website.
Service – any service or service related to a payment service which the Company offers to provide or provides to the Client.
Password – a personal identification code, which the Company issues to a Card user with the Card and which is used for remote identification of the Card User to approve Transactions performed remotely.
Access Tools – the technical possibility that shall be used for the access to the Client’s personal account in the Internet Office.
Application – an electronic application for a Card submitted by the Client after completion on an internet website of the Lender. The Application can be incorporated in and can form a part of the loan application as well.
PIN code – a person’s identification code, which the Company issues with the Card and which is used for the identification of the Client to approve the Transactions performed remotely.
POS terminal – any Card service device, except an ATM, where the Card is accepted as a means of payment for a Transaction.
Merchant – a person who accepts the Card at a sales point as a means of payment for products it sells or services provided. The MasterCard payment card symbol conforming with the MasterCard brand indicated on the issued plastic Card to the Card User confirms that a particular sales point is considered to be a Merchant within the meaning of these Conditions. Cash dispensing points are not considered Merchants, even if they bear the MasterCard payment card symbol.
Value Date – a moment of reference used by the Company to register a record regarding the performance of a Transaction or to establish the moment when an obligation to pay the Commission Fee arose.
General Business Conditions – General Business Conditions of the Company that are available on the homepage of the Company.
2.1. The Cards are issued by the Company and delivered to the Client by the Lender. The Company provides Card maintenance and Transaction execution services to the Card User. The Company does not grant or disburse the Loan, nor ensures execution of the Loan Agreement. All questions and uncertainties occurring in relation to the Card issuance and maintenance are settled with the Company, but in relation to the Loan disbursement or the Loan Agreement – with the Lender.
2.2. The main purpose of the Card is Transactions for goods or services provided by the Merchants using the Credit Limit granted by the Lender. All other Card facilities are secondary.
2.3. All Commission Fees indicated in the Price List are withheld from the Client by the Lender, incl. by issuing an invoice, except where provided otherwise in the Price List.
2.4. By filling in and submitting an Application, the Client confirms that all the information indicated in the Application is complete and correct as well as agrees and undertakes to immediately update the provided information in case of changes. The Client agrees that the Company and the Lender has the right to verify the accuracy of the information provided and obtain additional information about the Client, and undertakes upon the first request of the Company or the Lender to submit any requested additional information/documents within the term specified in the request.
2.5. Upon receipt of the Application, the Company has the right to perceive that the Client has provided correct information therein and acted in the name of the ultimate beneficiary indicated in the Client’s Application. The Client is informed that according to the Law, deliberate misreporting about the true owner or ultimate beneficiary of the transactions and involved financial funds therein, as well as failure to report information regarding the ultimate beneficiary stipulated by the law, is criminally punishable and by submitting the Application, confirms that he/she is aware of the consequences of their actions.
2.6. The Conditions establish the legal relations between the Client and the Company related to Card issue, use and cancellation. The Conditions are an integral part of the Card Service Agreement concluded between the Parties. In addition to the documents mentioned in this section, all legal relations linked to the use of the Card between the Client and the Company are regulated by the rules of the international payment card organisation MasterCard Worldwide, as far as they do not contradict the Law.
2.7. By submitting the Application, the Client confirms that he/she has familiarised themselves with the Conditions, the Price List and other documents which are related to Card service, agrees to and undertakes to observe them. By submitting the Application, the Client expresses his/her desire to conclude the Card Service Agreement.
2.8. The Conditions and other documents of the Company related to the Card Service Agreement are available in paper form at the premises of the Company on its Business Days and electronically on the webpages of the Company and the Lender – at any time except during technical breaks and planned maintenance times.
2.9. The Company or the Lender have the right to request at any time and the Client has the obligation to submit additional information or documents requested by the Company or Lender that are provided for by the General Transaction Conditions, which are necessary for Client identification or the Card issue/service. The Client is responsible for the accuracy and relevance of information and documents provided to the Company and the Lender, including copies of identification documents. If the Client fails to submit or refuses to provide to the Company or the Lender with the requested information or documents, or the Company or the Lender has suspicion about a Transaction or the Client with respect to illicit activities, the Company has the right to unilaterally withdraw from the Card Service Agreement and declare the Card invalid.
2.10. The personal data of the Client and information about Card Transactions are only used, processed and provided to third parties by the Company only to the extent specified in the Law binding on the Company, but to the Lender – in the amount necessary for the fulfilment of obligations towards the Client by the Company and the Lender or to pursue their own interests. By submitting the Application, the Client confirms his/her consent to the collection, processing and provision of any information provided and personal information, as well as information about Card Transactions by the Company to the above-mentioned persons, incl. to the Lender. The Client agrees that the Company has the right to provide the Client’s data and information about Card Transactions to third parties incl. to the Lender, if it is necessary for the fulfilment of obligations provided for by the Card Service Agreement or for their own interest realisation.
2.11. By submitting the Application, the Client confirms his/her consent to the right of the Company at any moment to provide to the Lender claim rights against the Client arising from the Card Service Agreement.
3.1. Upon receiving and accepting the Application for Card Issue, the Company opens the Card Account for the Client and according to procedures of the Company, assigns the Account a number.
3.2. The Client can make a deposit in the Card Account according to procedures laid down in the Loan agreement by paying back the credit granted within the Credit Limit or a part of the credit to any of the Lender accounts which are indicated in the invoices of the Lender, which the Lender issues to the Client according to the conditions of the Loan agreement. The sum of a deposit in the amount indicated by the Lender shall be transferred to the Account and is made instantly available to the Client by no later than 1 (one) business day of the Company, starting from the moment when the Lender has transferred the Company all the information which is necessary for deposit transfer in the Account with the condition that the Client’s performed deposit sum does not exceed the amount of the used Credit Limit. Deposits exceeding the amount of the used Credit Limit are not processed by the Company and are not deposited in the Account. The availability of the Credit Limit in the Card Account for the performance of Transactions may be influenced by conditions independent of the Company, incl. the Lender’s activity, for example, in withholding the money to the Company intended for transfer to the Client’s Card Account.
3.3. The Client may use to him available Credit Limit by performing Transactions according to the Conditions.
3.4. The Company writes off money from the Card Account by processing Transactions performed using the Card linked to the Card Account and by withholding relevant Commission Fees as per Price List, as well as in other cases in accordance with the Card Service Agreement conditions, including these Conditions or applicable regulatory act conditions.
3.5. The Client, in the order stipulated by the Company and according to the requirements of the Company, shall have the right to manage the Card Account or the Card. The Company does not have an obligation to perform a Transaction if the Client has not proven his/her rights to act with the Card Account or the Card in according to the procedure and requirements of the Company, or there is reason to doubt that the person performing transactions with the Card Account or the Card has the right to do so. In this case, the Company’s refusal to perform the Transaction shall not be considered as failure to comply with obligations of the Company, and the Company is not responsible for any losses that occur in relation to the Company’s refusal to perform the Transaction.
3.6. The Client has the right to act at his/her own discretion with the money which is readily available in the Client’s Card Account unless the Parties have agreed otherwise or the Company has accepted otherwise.
3.7. The Company does not have an obligation to perform a Transaction if the Card linked to the Card Account is not valid (including if it is blocked) and its operation is suspended.
3.8. The Company has the right but not the obligation to perform a Transaction in the Card Account only after authorisation of the Card linked to the respective Card Account according to Company procedures.
3.9. The Client has the right to perform Transactions only within the Card Account’s available balance and according to the Conditions and Lender’s provided Price List.
4.1. The Company does not allow cash withdrawals from the Account and the Client cannot withdraw cash from the Account the Card is linked to.
5.1. Card issue
5.1.1. The Company issues the Card to the Client after receiving an Application for Card Issue, opening of the Account, Card personalisation, and, if the Card is issued personally to the Client, verified signature of the Card and a PIN code and the receipt of a Password. The Company has the right to request additional information or documents, which the Client shall submit to the Company in order to receive the Card (including to issue the Card in cooperation with the Lender) or activate the Card for the performance of Transactions.
5.1.2. The Card, PIN code and Password are delivered to the Client by the Lender according to the Client’s instructions in the Application. Commission fees for Card issue or delivery, if applicable, and specified in the Price List, are withheld by the Lender by including this payment in an invoice sent to the Client.
5.1.3. Following the Client’s application upon provision of the Card, PIN code and Password, delivered by a courier, neither the Company nor the Lender does accept liability for the acts or omissions of third parties, including the courier. Neither the Company not the Lender is responsible for any Client losses that are incurred due to the acts or omissions of the courier if the Company or the Lender can prove that it has sent the Card and PIN code and Password according to the Client’s instructions in the Application.
5.1.4. The Client, upon receiving the Card, is obliged to sign it.
5.1.5. The Company has the right to refuse to issue a Card without justification.
5.1.6. The Card is issued to the Client inactive. In order to activate the Card upon receipt, the Client shall follow the instructions received from the Lender or found in the Internet Office. The Card is valid for use only after its activation.
5.2. Card use
5.2.1. The Card is the property of the Company and is entrusted for use to the Client. Only the Client has the right to perform Transactions with the Card. Provision of the Card for use to the third parties is forbidden.
5.2.2. Shall there be risk of fraudulent or other suspicious Transactions detected in relation to a specific Card or a group of Cards detected, the Company retains the right to set limits on the Transactions to be performed with the Card, including maximum limits on the number of Transactions and/or the maximum value of Transactions within a particular time period, as well as to set a permanent Card Account usage limit. The Company has the right to limit the number of Cards issued to one Client or related to one Client group.
5.2.3. The Client can only perform Transactions with the Card in the ATMs and POS terminals marked with the issued Card brand (logo) of MasterCard issued to the Client.
5.2.4. Together with the Card, the Company issues the Client a PIN envelope with PIN code and an envelope with a Password. If the Card is issued personally to the Client, he/she shall confirm receipt of the Card, PIN envelope and Password by signing the Confirmation of the Card and PIN code and Password receipt. The PIN code is used to identify the Client who performs Transactions by presenting the Card. The Password is used for remote identification of the Client when performing Transaction remotely. When using the Card in ATMs or to carry out Transactions in POS terminals using the PIN code identification function, the input of the PIN code, from a legal perspective, is considered to be equivalent to Transaction confirmation with the Client’s signature.
5.2.5. Upon performance of Transactions using the Card, the Client is obliged to sign a document confirming the Transaction (POS terminal printed receipt in one copy) or confirm the Transaction according to section 5.2.7. of the Conditions, by verifying in advance that the sum of the Transaction indicated in the document confirming the Transaction is correct. The Client shall not sign a document confirming the Transaction if the sum of the Transaction or other information indicated in the document is not indicated or the indicated sum of the Transaction is not correct.
5.2.6. Upon the performance of a remote Transaction with the Card, Client identification may be performed using the Card details (the Card Number, Expiry Date, and, in particular cases, also the CVC2/CVV2 code and Password). Input of the Password from a legal perspective is considered equal to confirmation of the Transaction with the Client’s signature.
5.2.7. Upon the performance of a Transaction using the Card, the Client consents to the Transaction by confirming the respective Transaction with the PIN code or the Card details indicated in section 5.2.6. of the Conditions or by signing the respective document confirming the Transaction according to section 5.2.5. of the Conditions.
5.2.8. The Client shall confirm Transactions sanctioned by him/her according to section 5.2.5. of the Conditions in all cases when the Merchant’s POS terminal supports such a possibility. When performing Transactions, the Client shall present his/her identity document at the Merchant’s request and agree to Client data collection in the form of the document confirming the Transaction.
5.2.9. The Client shall not revoke his/her consent for Transaction performance after he/she has provided it to the Merchant, except in cases when the Client has agreed on such a possibility with the Company and the Merchant’s consent is received. The Client may send the Company a written request to revoke consent for Transaction performance, by submitting a correctly filled in application to the Company, using the form approved by the Company certifying the Merchant’s consent mentioned in this section.
5.2.10. The Client shall not use the Card for illegal purposes, including for Transactions that resulting in funding for illegal products or services. The Company has the right to limit the Merchant’s acceptance of the Card for payment, as well as to specify particular Merchants whose product or service payment is not possible with the Card, including if reasonable doubts arise regarding the Merchant’s involvement in illicit or Suspicious Transactions. For security purposes (including if the Card is declared invalid according to sections 184.108.40.206. or 220.127.116.11. or if there are doubts regarding the authenticity of the Card or regularity of the Transactions), the Company has the right to request the Merchant to refuse to operate the Card or confiscate it.
5.2.11. The Client has an obligation to request from the Merchant all documents confirming the Transactions performed using the Card and to keep these documents for at least 50 days after the date when the respective Transaction amount has been processed on the Client’s Account.
5.2.12. The Client has the right at any time to ask the Company or the Lender to declare the Card invalid and request termination of a lost, stolen, or otherwise unlawfully seized Card by calling +371 67222 555 (Company’s Customer Service, available in English, Russian, Latvian) or another telephone number which the Company or the Lender has indicated to be used for such purposes, and by submitting a respective application. Until the moment the Company registers the Client’s application to block a Card, the Client is responsible for the Transactions performed with the Card (including remote Transactions).
5.2.13. For security reasons, if the Client does not fulfil the Conditions or the Company has reason to believe that the Card is being used without authorisation or unlawfully (for example, repeated or multiple incorrect PIN codes or other incorrect Card details), including Suspicious or Unusual Transaction performance or fraudulent activity performance or in cases when the risk has risen significantly that the Client will not be able to fulfil their financial obligations, the Company has the right at any time and without prior warning to terminate or limit the Card’s operation (block) and declare it invalid. If the Client does not comply with the conditions of the Loan Agreement concluded between the Lender and the Client or the Client does not comply with the obligation in section 2.4. and 2.9. of the Conditions to undertake to submit the documents requested by the Company or Lender, the Lender has the right to request that the Company terminate or limit (block) operation of the Card. At the Client’s request, the Company or Lender should inform the Client about the reasons for Card operation termination or limiting (blocking), or invalidation of the Card, except in cases specified in the regulatory acts. The Lender also has the right to instruct the Company to terminate or limit (block) Card operation in cases when the Client violates the conditions of the Loan agreement or any other agreement concluded with the Lender or does not use the Card available in the Credit Limit for longer than 2 (two) months. In such cases, when the Client chooses to begin using the Card and Credit Limit, activation of the Card shall be performed in their Internet Office or must be notified to the Lender by phone/e-mail.
5.2.14. Upon receiving the Company’s order to terminate operation of the Card, the Client shall stop using the Card, as well as shall comply with any further instructions from the Company.
5.2.15. The Company has the right to refuse authorisation of a Transaction or not perform a Transaction in the following cases:
18.104.22.168. If, upon performance of the Transaction and/or processing of the related Commission Fees, the Account balance would be exceeded (overdrawn), which consists of an as yet unused Credit Limit after the sum reserved for a previous Authorised Transaction execution is deducted;
22.214.171.124. If, upon performance of a Transaction, the Card use limits are exceeded;
126.96.36.199. If the respective Card usage is terminated or limited, or the Card is declared invalid (including blocked);
188.8.131.52. The Card’s validity has expired;
184.108.40.206. The Card is damaged;
220.127.116.11. The Client’s identification is unsuccessful, including the entry of an incorrect PIN code, CVC2/CVV2 code or Password;
18.104.22.168. The Company has reason to believe that use of the Card is unauthorised or involves forgery, including if, as of the moment of Authorisation, the Company receives data which does not comply with the details of the Card.
22.214.171.124. The POS terminal in possession of the Merchant or the ATM used by the Client is damaged or does not operate properly or an employee of the Merchant, upon formalisation of the Transaction by the Card, makes an error as a result of which, at the moment of Authorisation of the Transaction, inappropriate (incorrect, faulty, contradictory or misleading) information about the Transaction is sent;
126.96.36.199. Telecommunication services are not being provided or other technical problems arise;
188.8.131.52. The business relationship is terminated with the Client (the Company stops provision of all Services to the Client);
184.108.40.206. In other cases provided for by regulatory acts of the Republic of Latvia.
5.2.16. The Card shall be returned to the Company or destroyed, if the Expiry Date ends or the Card is declared invalid, or if any of the Parties unilaterally withdraws from the Card Service Agreement in cases stipulated by the Conditions. By destroying the Card, the Client ensures that it is destroyed in such way that the plastic of the Card is made unusable and beyond repair (e.g. it is cut in a way that the Card Number, signature, chip and magnetic line are not left in one piece).
5.3. Storage of the Card, PIN code and Password
5.3.1. Upon receipt of the Card, PIN code and Password, the Client should memorise the PIN code and Password and destroy the envelope containing the PIN code and Password. The Client is obliged to store the Access Tools, the Card, PIN code and Password with due diligence and make every effort to ensure the security of the Access Tools, the Card, PIN code and Password, as well as prevent access to the Access Tools, the Card, PIN code and Password to third parties. The Client should not write down the Access Tools, the PIN code or Password in an easily identifiable way, including on the Card or any other object which is kept together with the Card or disclose the PIN code or Password to third parties.
5.3.2. The Client shall immediately inform the Company of the loss, theft or any other event involving the Access Tools, the Card, PIN code or Password which results in loss of the Card or the PIN code or Password, as well as damage of the Card or access by a third party to the PIN code or Password. If such circumstances arise, the Client is obliged to immediately inform the Company by calling +371 67222 555 or another telephone number which is specified by the Company for this purpose or by submitting a written declaration at the premises of the Company. The Client must approve in writing each oral declaration made to the Company in the event of circumstances indicated in this section. The Client may inform the Company of a Card lost abroad using any bank abroad that services MasterCard cards. Upon receipt of the declaration, the Company will terminate the operation of the Card and declare it invalid until the Company receives a request in writing from the Client for renewal of Card operation. If the Card is declared invalid, the Client has the right, in agreement with the Company, to submit an application for the replacement of the invalid Card, by paying the Commission fee if indicated in the Price List.
5.3.3. The Client is obliged to keep the Card in a way that prevents it from exposure to high temperatures, proximity to strong electro-magnetic fields, or to a mobile phone, as well as to preserve the Card from mechanical damage.
5.3.4. The Company has the right, but (until the moment the Client informs the Company according to appropriate arrangements) is not obliged to terminate the operation of the Card or declare it invalid if the Company discovers grounds that would lead it to conclude that the PIN code, Password or Card were used unlawfully, or if there are concerns that the Client might have performed fraudulent activities with the Card or doubts regarding the identity of the person using the Card.
5.4. Card Expiry Date, renewal and substitution
5.4.1. The Card Expiry Date is indicated on the surface of the Card. The Card is valid until the last day of the month indicated, including that day.
5.4.2. The Company, at its own discretion without a prior application from the Client but upon receipt of the Client’s consent, has the right to renew the Card, i.e. to replace the existing Card by producing the Card with a new Expiry Date instead of the previous one unless the Client or the Lender have given the Company a written instruction at least 1 (one) month prior to the end of the Card’s validity expiration.
5.4.3. If the Company does not renew the Card independently according to the arrangements provided for by section 5.4.2. of the Conditions, the Client may submit an application to the Company requesting renewal of the Card after the end of the Card’s validity. In such case, if the Company has agreed to renew the Card and the Lender’s consent is received for renewal of the Card, it will produce and issue the Card to the Client within 3 (three) Business Days of the Company with a new Expiry Date.
5.4.4. Upon receipt of the Card with a new Expiry Date, the Client should destroy the previous Card or return it to the Company.
5.4.5. The Card is not valid for use, if:
220.127.116.11. the Card’s validity has expired; or
18.104.22.168. it is damaged (the Card is considered damaged if it is not possible to electronically read the information stored in it using an electronic carrier – a magnetic line or a chip, as well as if, due to mechanical damage to the plastic or due to deterioration, the Card Number, Expiry Date, security features, or the Client’s signature is not visible); or
22.214.171.124. it is blocked due to the theft, loss, or other unlawful seizure of the Card’s PIN code or Password, following a decision of the Company according to section 5.2.13., 5.3.4., 10.3., or 10.5. of the Conditions or other cases provided for by regulatory acts of the Republic of Latvia; or
126.96.36.199. it is counterfeit.
5.4.6. The Card is considered counterfeit, if:
188.8.131.52. the design of the Card does not match the look or the design specified by the Company; or
184.108.40.206. safety features of the Card do not comply with international card organisation requirements; or
220.127.116.11. other indications of forgery are found, including indications of modification of information integrated in the Card carrier (plastic, magnetic line or chip), as mentioned in section 13.4. of the Conditions.
5.4.7. It is possible to replace damaged Cards that cannot make payments, as well as those that are stolen, lost or otherwise unlawfully seized, with valid ones or change them, after the Client correctly fills in and submits to the Company or the Lender the relevant application according to the form approved by the company and pays a Commission Fee if indicated in the Price List. In this case, if the Company has agreed to replace the Card, the Company will produce and deliver to the Client a new Card with an Expiry Date identical to the one on the card to be replaced within 3 (three) Business Days if the Card is damaged due to the fault of the Client. The Client shall destroy the damaged Card. If the substitution application is completed less than 6 (six) months before the Expiry Date of the previous Card, the Company has the right to refuse to replace the Card and issue a new Card to the Client with a new Expiry Date.
5.4.8. The Company will not replace a damaged Card if indications of forgery are identified. Counterfeit Cards are annulled and cannot be exchanged for valid Cards or used to perform Transactions.
5.4.9. The Company has the right not to replace a damaged Card if the damage does not prevent reading the Card data from the information carrier (magnetic line, plastic, or chip) or use of the Card to perform Transactions. Such Cards are not considered invalid.
5.4.10. If the Client requests the renewal or replacement of an invalid Card, the Company has the right to refuse to accept an Application if the Client does not fulfil its obligations, including liabilities provided for by the Conditions or Law regarding the use of the Card, as well as if the Card is declared invalid according to section 5.2.13. of the Conditions.
5.4.11. The Company has the right to refuse to replace the Card if the Client has incorrectly completed the application.
5.5. Financial liability arising from the use of the Card
5.5.1. The Client is obliged to familiarise themselves with the Price List as well as to follow any changes therein and pay timely the Commission Fees for Transactions with the Card according to the Price List. Signature and submission of the application to the Company or the Lender and receipt of the Card signifies the Client’s acceptance of the Price List.
5.5.2. If a Transaction using the Card is performed in a different currency than the currency in which the Account is denominated, and Transaction processing is performed by the MasterCard transaction centre, the following rules apply:
18.104.22.168. If the Transaction is not performed in EUR, the sum of the Transaction in the currency of the Transaction will be converted to EUR in accordance with the currency exchange rate specified by the international payment card organisation MasterCard as at the day of the Transaction processing;
22.214.171.124. The Client shall pay the Company for the currency exchange of the Transaction sum according to the Price List from the sum of the Transaction converted to the Account currency. The currency exchange mark-up sum is automatically added to the Transaction sum in the Account currency and is not indicated separately.
5.5.3. If a Card Transaction is performed in a different currency than the one the Account is denominated in and the Transaction is executed by the Company, the Transaction sum currency is exchanged to EUR according to the currency exchange rate of the Company in force as of the moment when the Company processes the Transaction.
5.5.4. In addition to the Price List and Commission Fees indicated in sub-section 126.96.36.199. of the Conditions, when a Transaction using the Card is performed abroad or in a foreign currency, the Company has the right to write off additional fees from the Account specified by an international card organisation.
5.5.5. The Company writes off the Transaction sum performed by the Card from the Account on the day of the respective Commission, when the Company receives the payment order for the specific Transaction from the Merchant or an international payment card organisation payment centre. Prior to receipt of the Transaction and write-off of the respective Transaction sum from the Account, the Company has the right to block the Transaction sum and the related Commission Fees on the Client’s Account by reducing the Account balance accordingly and by limiting the use of a blocked amount. The Company also has the right to write off the sum of the Transaction and respective Commission Fees from the Account on other dates specified by the Company.
5.5.6. The Client has an obligation to ensure that the available Credit Limit necessary for the Transaction and the respective Commission Fees or charges, is freely available in the Account from which the respective Transaction is performed.
5.5.7. Should the Card Account be blocked or closed due to any reasons, funds received by the Company for refunded Transactions and satisfied chargebacks, if any, shall be transferred to the Lender. The Client is aware that all issues regarding the mentioned funds are further settled directly with the Lender.
5.6. Additional conditions of Card use
5.6.1. The Client may use a Card to receive the services and benefits offered by both the Company and the Lender. Use of a Card issued in cooperation with the Lender to receive services or benefits, as well as the mutual legal relationship between the Client and Lender related to Card use to receive services and benefits offered by the Lender or to receive benefits are regulated by the Lender’s terms and conditions.
5.6.2. The Company is not responsible for the services and benefits offered by the Lender or for any losses incurred by the Client in relation to the Lender’s services or benefits and their use.
6.1. After the Transaction amount is written-off from the Account the Client shall be provided with the possibility to receive the following information about the Transaction:
6.1.1. Transaction Authorisation code, allowing the Client to identify the respective Transaction;
6.1.2. Information about the Transaction sum receiver (Merchant’s name, ATM details);
6.1.3. Sum of the Transaction in the currency of the Transaction;
6.1.4. Sum of the Transaction in the currency of the Account;
6.1.5. Commission Fee which the Client pays for performance of the Transaction if specified in the Price List;
6.1.6. If a currency exchange is performed, the currency exchange rate;
6.1.7. Value date and date of write-off from the Account.
6.2. The Client may receive information specified in section 6.1. of the Conditions for free:
6.2.1. In the Electronic Internet Office at any time;
6.2.2. In paper form during Business Days of the Company, once per calendar month for the previous calendar month, by filling in and submitting an application to the Company according to the form approved by the Company, if the Client has no access to internet or the Internet Office.
6.3. Should the Client wish to receive the information specified in the section 6.1. in paper form more frequently than pursuant to the section 6.2.2, the relevant Commission Fee shall be paid by the Client, if indicated in the Price List.
6.4. The formalised reports and information is prepared electronically and issued in the form of computer print-out. The Lender provides that electronically prepared information, including about the Account statement, is freely available unchanged in the Internet Office for at least two years. The Client agrees that all electronically prepared documents, including but not limited to reports and information indicated in this section, as well as Account statements available in the Internet Office and other documents, are considered to be signed electronically by the Lender. Any document electronically prepared and available in the Internet Office is valid without a signature or seal and from a legal perspective is considered equal to a document signed by the Lender or the Company prepared in paper form. The Client has the right to request approval of the authenticity of the electronic signature from the Lender or the Company.
6.5. Any Client is obliged to independently follow the Account balance, as well as to verify information about Transactions at least once per calendar month, according to the Conditions the Client may receive from the Company or Lender, and make sure that the Transactions are correct. The Client is obliged to immediately inform the Company of any incorrect or unauthorised Transaction or other errors related to use or service of the Account or the Card in writing no later than 50 calendar days after the money write-off from the Account. If the Client cannot inform the Company about an unauthorised or faulty EEA Transaction within the term specified in this section, the Client is obliged to immediately inform the Company of this fact in writing no later than 13 months after the money write-off from the Account. If the Client has not submitted such an announcement to the Company during the terms specified in this section, the Company has the right to conclude that the Client does not have any objections related to the Transactions performed during this time frame. The Company has the right to reject any claims submitted after this period. Non-receipt of information about Transactions, if the Lender has made this available to the Client according to the Conditions, does not release the Client from responsibility for the Transactions.
7.1. All terms and conditions pursuant the Conditions shall be applied to virtual (non-plastic) Card, except where provided otherwise in this paragraph.
7.2. The virtual Card shall be valid for Transactions for one calendar month following the month the Card is issued. The Card Expiry Date is indicated in the Internet Office provided by the Lender. The Card is valid until the last day of the month indicated, including that day. The Expiry Date is given exclusively for the purpose of Client identification while making Transactions online and shall not be used to discuss the granted Credit Limit validity term. The Credit Limit granted to the virtual Card shall be available to the Client for 7 (seven) days following the day the Card is issued notwithstanding the Expiry Date stated on the Card.
7.3. The virtual Card can be used for Transactions only in the virtual environment, where Transactions are made without the presence of the Card and where the Card details referred to in section 5.2.6 are used for the identification of the Client. The virtual Card may not be used to pay for Transactions, execution of which requires the presence of the Card, including when it is required to electronically read the information from the Card’s magnetic stripe or microchip.
7.4. Section 3.2 does not apply to the virtual Card. The Credit Limit granted to the virtual Card shall be repaid according to procedures laid down in the Loan agreement.
7.5. No Transactions with ATM are possible with the virtual Card, including checking of the Card balance with ATM.
7.6. The virtual Card shall be delivered to the Client electronically and shall be available through the Internet Office provided by the Lender.
8.1. The Client will compensate the Company for all losses which it causes by failure to fulfil or by fulfilling inappropriately the liabilities specified in the Conditions.
8.2. The Client is responsible for information submitted to the Company, the authenticity, completeness, correctness, validity and timely submission of documents, as well as lawfulness of the Transactions performed in the Account. The Company is not responsible for losses which it incurs because of the Client or a third party. The Client is responsible for all losses which are caused by the Client himself/herself or are caused to the Company due to the fact that the Client has submitted counterfeit or incorrectly or inappropriately completed documents to the Company.
8.3. The Client is responsible for losses caused by the fraudulent activity of the Client or deception of the Company.
8.4. Until the moment when the Company receives the Client’s request to terminate Card operation or to declare it invalid according to section 5.3.2, the Client assumes all liability for Transactions performed using the Card.
8.5. Failure to submit a written application to the Company regarding the occurrence of circumstances indicated in sections 5.2.12. or 5.3.2. of the Conditions is considered proof that the Client has acted carelessly and in such cases the Client is fully responsible for the consequences of such carelessness.
8.6. After the Company has received a written announcement of the occurrence of circumstances specified in sections 5.2.12. or 5.3.2. of the Conditions, the Client is responsible for the losses that have occurred, if:
8.6.1. The Card is unlawfully used and a fraudulent Transaction is authorised using the PIN code, Password or any other identification feature or personalised security element; or
8.6.2. The Client has acted carelessly or with malice.
8.7. The Client is responsible for all losses caused by unlawful use of the Card if the Client has violated liabilities specified in the Conditions or applicable regulatory acts related to the use of the Card, or if the Client has performed fraudulent activities.
8.8. Upon establishing responsibility for contested EEA Transactions, the following rules apply:
8.8.1. If the Company, within the term provided for by section 6.5. of the Conditions, receives an announcement from the Client regarding an unauthorised Transaction, the Company, immediately after making sure that the Transaction is unauthorised, will compensate the Client in the amount of the unauthorised Transaction or credit the Account from which the respective Transaction amount was written off, restoring the balance that existed before the performance of the unauthorised Transaction. The conditions of this section are not applicable and the Client is responsible for an unauthorised Transaction if the Client has acted unlawfully or has not observed the Conditions or other applicable legal acts.
8.8.2. The Client has the right to receive compensation from the Company for a confirmed and executed Transaction sum, if both of the following conditions exist:
188.8.131.52. upon Transaction confirmation, its precise sum was not indicated, and;
184.108.40.206. the sum of the Transaction was larger than the Client would have reasonably assigned to the respective Transaction considering data about his/her previous Transactions, Conditions and the respective Transaction circumstances.
8.8.3. At the request of the Company, the Client will provide evidence related to the conditions mentioned in section 8.8.2. of the Conditions. Fulfilment of these conditions cannot be justified by the Client based on reasoning related to currency exchange if the exchange rate is applied according to the Conditions;
8.8.4. The Client may request compensation of funds according to section 8.8.2. of the Conditions within 8 (eight) weeks from the date when the respective Transaction sum is written off from the Account;
8.8.5. The Company will pay back the Transaction sum indicated in section 8.8.2. of the Conditions or provide the Client with an explanation of its refusal within 10 (ten) Business Days of the Company after the claim application of the Client and receipt of evidence specified in section 8.8.3. of the Conditions. The Company has the right, until full clarification of the circumstances, to block the sum transferred to the Account which the Company has paid back according to this section, accordingly by reducing the available Account balance.
8.9. The Company is not responsible for any failure to fulfil any liabilities against the Client or inappropriately completed or unauthorised Transaction if the Client has not informed the Company about such Transaction according to section 6.5. or 8.8.4. of the Conditions.
8.10. The Company is not responsible for fulfilment of a Transaction according to the Conditions if Authorisation for the Transaction was refused.
8.11. The Company is not responsible for failure to perform Transactions for the Client if this is due to circumstances which are related to the fulfilment of applicable regulatory acts by the Company.
8.12. The Company is not responsible for losses which are incurred due to third-party involvement in Transaction execution, including in cases when the Merchant refuses to accept the Card in payment for its traded products or provided services, as well as when the POS terminal in the possession of the Merchant is not operating or telecommunication is disrupted between the Merchant’s POS terminal and its servicing company or international payment card service centre, which does not enable Authorisation of the Transaction by the Merchant.
8.13. The Company is not responsible for losses occurring due to the fact that the Company, according to the Conditions or the Loan Agreement, has terminated or limited the operation or use of the Client’s Card.
8.14. The Company is not liable for losses which occur due to currency exchange or cash withdrawal limitations of a particular country or as a result of specific arrangements.
8.15. The Company is responsible for accurate performance of Transactions according to the Transaction order and the Law, as far as the Company is able to influence the fulfilment of a Transaction or its execution process. If the Transaction is performed improperly and, according to this section, the Company is responsible for performance of the Transaction, the Company will immediately pay the Client back in the amount of the incorrectly executed Transaction sum or credit the Client Account to the balance that would have existed if the faulty Transaction had been completed.
9.1. The Company performs Transactions in the currency indicated in the Transaction order. The Company writes off the Transaction sums from the Client Account in the currency in which the respective Client Account was opened.
9.2. The Company has the right to execute the Transaction in another currency if Transaction performance in the indicated currency is impossible due to reasons for which the Company is not responsible or which have not occurred as a result of the Company’s actions.
9.3. If the currency of the Transaction is different from the respective Account currency in which the Transaction sum should be transferred or written off, in cases provided for by the Conditions, the Transaction sum currency exchange shall be calculated according to the applicable currency exchange rate.
9.4. Information about the exchange rates specified by the Company is available to the Client in the premises of the office of the Company during Business Days and at any time on the website of the Company.
9.5. Changes in the exchange rate specified by the Company are applied immediately without prior announcement to the Client. The Company will inform the Client about changes in the Company’s specified exchange rate by publishing information about the Company’s specified exchange rates in the premises of the office of the Company and on the website of the Company.
9.6. Changes in the exchange rate specified by the international payment card organisation MasterCard are applied immediately without prior announcement to the Client.
10.1. The Company has the right to unilaterally amend these Conditions time by time notifying the Client about the changes by placing the respective amendments on Company’s and Lender’s website in at least 10 (ten) days prior to their effective date or, if amendments refer to payment services, at least 60 (sixty) days prior to their effective date.
10.2. The Client is obliged to follow changes in the Conditions, the Price List and other conditions which are part of the Card Service Agreement. The Client is deemed to have agreed to amendments if the Client has not informed the Company about their claims against such amendments by the day of their initiated (planned) entrance into force. If the Client does not agree to such amendments, he/she has the right to, immediately and without the imposition of a penalty, terminate the Card Service Agreement by informing the Company of this fact by the day of entry into force of such amendments.
10.3. The Client has the right at any moment to unilaterally withdraw from the Card Service Agreement by submitting to the Company a relevant announcement. The Client has the right, upon agreement with the Company, to revoke their announcement to the Company about withdrawal from the Card Service Agreement.
10.4. The Company has the right at any time to unilaterally withdraw from the Card Service Agreement by informing the Client of this fact at least 60 calendar days in advance.
10.5. The Company has the right to unilaterally, incl. at the request of the Lender, withdraw from the Card Service Agreement without prior notification if the Client violates the Card Service Agreement or Conditions, or the Loan Agreement or in other cases provided for by the applicable regulatory acts.
10.6. If any of the Parties informs the other Party about a unilateral withdrawal from the Card Service Agreement, the Company has the right to:
10.6.1. refuse performing the Client’s Transactions;
10.6.2. annul the Credit Limit, terminate Card operation and declare the Card invalid;
10.6.3. unilaterally withdraw from agreements concluded between the Parties or the provision of other services;
10.6.4. close the Account.
10.7. The Card Service Agreement is considered terminated only after the Parties have fully fulfilled their obligations deriving from the Card Service Agreement and the Client has fully fulfilled her/his obligations to the Lender deriving from the Loan Agreement.
11.1. The Client has the right at any time to request the cancellation of the Card in writing by submitting an application to the Lender according to the prepared form. The Client’s application to cancel the Card at the same time is also considered to be the Client’s announcement of unilateral withdrawal from the Card Service Agreement.
11.2. After the Client’s application for Card cancellation is submitted to the Lender, the Client does not have the right to perform Transactions with the Card and the Company has the right not to perform Transactions initiated at the moment when it has received the Card cancellation application from the Lender.
11.3. Upon receipt of the Client’s application to cancel the Card, the Company will immediately terminate operation of the Card indicated in the Card cancellation application and declare it invalid, as well as deny the Client access to and annul the Credit Limit on the Card Account. The Company closes the Card Account based on the Client’s application after the Lender has certified that the Client has fulfilled the liabilities deriving from the Loan Agreement in full.
11.4. The Company has the right without prior warning to annul the Credit Limit (if applicable) and close the Account or the Card linked to it in cases listed below:
11.4.1. if no Transactions are performed during 12 (twelve) months on the Account and no payments are made to replenish the Account during that period, according to the Conditions, and if there is no credit (positive) balance;
11.4.2. at the request of the Lender, if the Client does not fulfil or inappropriately fulfils their obligations with respect to the Loan Agreement or other agreement concluded with the Lender;
11.4.3. in other cases provided for by the Conditions or an agreement concluded between the Parties or the Law.
11.5. The Company has the right not to renew or replace a Card which is cancelled according to the Conditions.
12.1. Any claims or complaints regarding Accounts or Cards, including regarding Transactions, Card acceptance or non-acceptance of payment, account balances, Commission Fees, failure to comply with applicable Conditions or regulatory acts, shall be submitted to the Company within the terms specified in sections 8.8.4. and 6.5. (respectively) of the Conditions. Claims and complaints are only accepted by the Company from the Client. The Client can submit the claim by completing in writing and submitting an application to the Company according to the approved form of the Company in the Internet Office of the Lender or personally in the office of the Company during Business Days of the Company, by accurately providing all the details required by the Company, including the Client’s name, surname, identity code, contact telephone number and address, Card Number, Transaction details or other data challenged by the Client, as well as facts and circumstances justifying the claim and claim request of the applicant. Documents in possession of the Client shall be added to the claim application, including documents certifying the contested Transactions which justify the claim or explain its submission.
12.2. The Client is obliged to inspect the Merchant’s issued documents certifying the Transaction (checks, receipts, etc.) immediately after payment for the Transaction and inform the Merchant immediately regarding any inconsistencies. If the Merchant is not able to or refuses to correct inconsistencies found by the Client or otherwise mitigate harm inflicted on the Client, the Client has the right to submit a claim application to the Company.
12.3. Claims submitted regarding Transaction compliance are reviewed by the Company only if the Client attaches documents certifying the Transaction to the application or copies thereof. If the Client does not submit a claim application to the Company and cannot provide, at the request of the Company, a document certifying the Transaction in a timely fashion, the Company has the right to refuse to review the claim application and reject the claim. The Company does not have an obligation to independently request the Merchant to submit documents certifying the Transactions until the respective instruction is received from the Client in writing.
12.4. Claims for Transactions are reviewed by the Company according to the conditions of the international payment card organisation MasterCard and makes a decision regarding the validity of the claim based on provisions stipulated in these conditions, burden of proof and measures, as far as these provisions do not contradict with the Law.
12.5. The Client’s submitted claim application is reviewed by the Company within 10 business days after submission of a correctly completed claim application and, in separate cases, receipt of documents requested by the Company, including documents certifying the Transaction and evidence mentioned in section 8.8.3. of the Conditions, and information from the claimant about the results of the claim review, including:
12.5.1. Claim satisfaction and information from the claimant about the claim request fulfilment term and arrangement;
12.5.2. Claim rejection and provision of a justified rejection to the claimant;
12.5.3. Information about the claim review progress and the additional measures or time necessary for the Company to review the claim on its merits, including the facts and circumstances specified in the claim inspection, and evaluation of validity.
12.6. The Company will respond to a claim application in an email to the Client via the email address indicated in the claim application, or another address known to the Company, or deliver it personally to the Client. If the answer does not contain protected and publicly unavailable data (including, full card numbers) belonging to the Client or a third party, the Company has the right to send the response to the electronic address that the Client indicated to the Company and to their email address.
12.7. The Company has the right to reject and not review claims that are not submitted according to the terms (respectively) mentioned in section 6.5. and 8.8.4., as well as those which do not comply with the requirements of article 12.1.
12.8. If the Company acknowledges the Client’s claim application as justified, the Company will restore Card operation or the Account balance indicated in the claim application, thus fully or partially satisfying the applicant’s claim.
12.9. If, as a result of a review of the claim, the Company discovers that it is not valid, the Company has the right to annul previously performed claim satisfaction and restore Card operation or the Account balance to its state prior to the unjustified claim application. If the Company acknowledges the Client’s submitted claim application to be unjustified, the Client is obliged to pay a Commission Fee indicated in the Price List for review of an unjustified complaint.
12.10. If the Client is not satisfied with the Company’s reply to their claim application, the Client has the right:
12.10.1. to address the competent authority (a body dedicated to protecting consumer rights in the Member State where the Card was issued) with an application to review a dispute between the Company and the Client. A complaint to this authority can also be submitted digitally via Online Dispute Resolution website at: http://ec.europa.eu/odr/;
12.10.2. The Client may raise a claim in a court in relation to the claim or complaint according to section 14.2. of the Conditions.
13.1. Intellectual property rights, including copyright and patent rights, irrespective of whether they are acknowledged or registered over the course of work according to regulatory acts in force, including Card design, trademarks, logos, brands, programmes developed by the Company, documentation and advertising materials, are owned by the Company, persons affiliated to it and/or contracting partners of the Company or third parties where separately indicated.
13.2. The Client has no rights of any kind to reproduce the Card wholely or in part, or to use any Company, affiliated person or third-party trademarks or any other identification marks indicated on the Card.
13.3. Copying of the Card (reproduction) or production or distribution of a payment instrument that is identical or similar to the Card is considered a breach of copyright of the Company or other persons and a violation of other intellectual rights as well as unlawful conduct against the Company and the property of others is subject to civil and criminal liability provided for by the law.
13.4. Any mechanical, electronic or any other modification of the Card or its information carrier (magnetic line or chip) is prohibited. If the Company determines that information has been modified on the Card or its information carrier or that such an attempt has been made, the Company has the right to terminate operation of the respective Card and declare this Card invalid according to section 5.4. of the Conditions and transfer its rights to law-enforcement authorities.
14.1. Account service and Card use, according to the Conditions and related legal relationship, are regulated by the provisions of the regulatory acts of the Republic of Latvia.
14.2. Each dispute arising between the Company and the Client related to these Conditions, the application of requirements thereof and their execution, if it cannot be solved by mutual negotiations with the Company within 90 days, will be resolved in a court of legal order at their discretion, which is assigned according to the location of the Company, or in a court of general jurisdiction.
15.1. Upon Card cancellation or Account closure, the Company has the right to keep the Client’s documents that were submitted to the Company when issuing the Card or opening an Account.
15.2. The Company has the right (but is not obliged) to contact the Client if the Company discovers that Transactions have been performed with the money in the Account that are not characteristic of the Client.
15.3. The Company has the right, without the Client’s consent, to write off sums of money from the Client’s Account in the following cases:
15.3.1. For the fulfilment of payment liabilities against the Company by the Client, including Commission Fee payments or other sums of money according to the Conditions;
15.3.2. If the Company has deposited money in the Client’s Account as the result of fraud, negligence or error or without any legal justification.
15.4. This Card Service Agreement is concluded for a temporary term.
16.1. If not otherwise indicated, terms used in singular shall be translated in the same way if these terms are used in plural in the annexes, and vice versa.
16.2. The titles of the Condition sections are intended for convenience, not for interpretation of the Conditions.
16.3. If any part of the Conditions is or becomes invalid, this does not influence the validity of other parts of the Conditions.
16.4. Unless otherwise indicated in the Conditions, reference to sections, articles or sub-sections of the Conditions mean references to sections, articles and sub-sections of the Conditions (respectively).
16.5. Reference to any document in the conditions includes a reference to this document with all its amendments and any other changes, as well as updates of this document.
The digital credit card is a temporary digital MasterCard which can be used to pay for goods and services on the Internet in the extent of the credit limit set by Holm Bank AS (hereinafter: the Bank). The digital credit cards are offered by the Bank in cooperation with SIA Transact Pro, provider of payment services.
Using the digital credit card is accompanied by certain obligations and risks. Thus, we advise you to be acquainted with the information and advice below before entry into a loan agreement (NB! This is informative material, which does not grant any rights or impose any obligations);
If you have made the decision to enter into a loan agreement after receiving answers to your questions and giving the matter careful consideration, be sure to pay attention to the following:
Prior to entry into loan agreement, please read the Standard European Consumer Credit Information form presented to you, which outlines the information on the terms and conditions of the loan agreement to be entered. The format of the information form is usually similar between different creditors and facilitates the comparison of offers of different creditors.
In order to use a digital credit card and receive the respective credit limit, you must conclude a loan agreement with the Bank and a card service agreement with the payment service provider SIA Transact Pro (terms and conditions of use of cards). The agreements take effect and the credit limit will become available after signature of the agreements and issue of the card. The agreements shall be signed electronically using Bank’s mobile app or web-based self-service. The card service agreement will be concluded by the Bank on behalf of SIA Transact Pro. There is no contractual fee charged by the Bank for the conclusion of the agreements.
Note that in order to apply for a credit limit and sign agreements via Bank’s mobile app or web-based self-service, you must also enter into an agreement for the use of the Bank’s self-service by accepting the terms and conditions of Holm Bank online self-service environments.
You may withdraw from the loan agreement within 14 days by giving or sending a notification of withdrawal to the Bank. Keep in mind that you will not be under any obligation to use the credit limit – the loan agreement expires with no further obligations if you don’t use the credit limit within 7 days from the issue of the digital credit card.
You will be charged a monthly interest for using the credit limit, which will be calculated on the used credit amount daily. The fixed interest rate applicable to the loan agreement is specified on the front page of the loan agreement as well as in the Standard European Consumer Credit Information form. Interest shall accrue from the day a purchase amount is debited from the account of your loan card up to the day when the used credit limit has been fully returned to the Bank.
Monthly payments, each of which consists of principal and interest payments, shall be made in accordance with the payment schedule. The payment schedule is based on the principle of annuity schedule, which means that monthly payments are usually of equal size. The due date of monthly payments is the 25th day of each month. Our loan agreement does not involve any management fees or other monthly charges.
The amount of monthly payments is fixed after the 7-day validity period of the digital credit card proportional to the chosen repayment period and the actual amounts spent with the card. None of the monthly payments shall be less than 300 SEK. In this case the chosen repayment period will shorten automatically, and the new repayment period will be 3, 6 or 12 months depending on the need to shorten the repayment period in order to reach at least the amount of minimum monthly payment.
You can make contractual payments easily in the Bank’s mobile app or web-based self-service via usual online bank e-payments or direct debit payments. You shall use Trustly Group AB as payment method for making all contractual payments (repayments, interests, costs) to the Bank. Make sure that the payment reaches the account of the Bank on the due date, for example, on weekends and holidays, payments between banks may be delayed. Information about your digital credit card transactions, credit limit and monthly payments can be found in Bank’s mobile app and web-based self-service environment.
You have the right to repay the credit prematurely in larger amounts (or repay the credit in full). Note that in such case, we may claim a compensation amounting to 0,5-1% of the repayable amount.
No administration fee is payable for the digital credit card. Additional costs not regulated in the agreements may derive from the law or the price list published on the Bank’s website. To the extent that it is not unfair and provided that such change does not affect material aspects of the loan agreement, we retain the right to make unilateral amendments to the loan agreement by notifying you thereof at least 1 month in advance
In the event of any questions about our digital credit card or agreements, please dial +46852509905 on working days to call our advisors or send an e-mail to firstname.lastname@example.org.
Your main obligation is to make the contractual payments on time in accordance with the payment schedule. In the event of financial difficulties, please contact us immediately – we will try to help you prevent any problems and find a solution to the situation.
In the event of any disputes between us, we will first attempt to settle them by negotiations. Out-of-court dispute resolution is available via the Swedish National Board for Consumer Disputes (ARN); further information is available on the authority’s website, www.arn.se. A complaint can also be submitted via the EU Online Dispute Resolution website at: http://ec.europa.eu/odr. You may also file an action with a court to defend your rights.
Supervision over the Bank is carried out by the Estonian Financial Supervision and Resolution Authority (Sakala 4, 15030 Tallinn, Estonia; www.fi.ee) and over the payment service provider SIA Transact Pro by the Latvian Financial and Capital Market Commission (Kunguiela 1, Rīga, LV-1050, Latvia; www.fktk.lv).
|Monthly management fee|
|Compensation for early repayment of the loan|
1% of the amount of the credit repaid prematurely if the period between the date of premature repayment and expiry of the agreement is longer than 1 year and in the amount of 0,5% of the amount of the credit repaid prematurely if the period between the date of premature repayment and expiry of the agreement is shorter than 1 year.
|Currency conversion mark-up fee|
2.5% of the transaction amount (The fee applies when a transaction is made in a currency other than SEK.)
at the rate specified in the agreement
Fees for reminder notices, debt collection notices and payment plans will be charged in accordance with the Swedish Act (SFS 1981:739) on debt collection fees etc
Valid from: 01.04.2021
Regarding financial services in Kingdom of Sweden
Controller: Holm Bank AS, www.holmbank.se
SIA Transact Pro
Card issuer and payment service
Account information services
Bisnode Kredit AB
Scoring and data analytics
Telia Eesti AS
Fintech Market OÜ
Lowell Sverige AB
Messente Communications OÜ
Official data provider
Creditsafe i Sverige AB
Credit report information
Bisnode Kredit AB
Credit report information
Your personal interest rate will be offered after you have applied.
Here is an example of an average loan calculation. Please be aware that your offer may differ from the current example.
For example: A loan of SEK 90 000 at 9,9% fixed annual interest rate with a repayment period of 24 months, with 24 monthly installments of SEK 4 148,89 and agreement fee of SEK 0 gives an annual percentage rate of a total of 10,39%. The total amount to be repaid is
SEK 99 573,36.
You are on a website of financial services provider Holm Bank AS.
Before entering into any agreement read the terms and conditions or consult with a specialist.