Terms and Conditions for Crypto Investments with P.F.C.
These terms and conditions apply to the product Krypto. When you invest in crypto through the P.F.C. app, you also need to accept our partner's terms and conditions. Please refer to Bitpanda's terms and conditions here: https://www.bitpanda.com/en/pfc-bitpanda-terms?utm_referrer=https://getpfc.atlassian.net/
In case of any discrepancies between the Swedish version and the English translation, the Swedish version shall prevail.
You/your: the User who has applied for, or been granted, a Bitpanda User Account
We/us/our: PFC Technology AB, 556851-3112, Box 55983, 102 16 Stockholm
Bitpanda: Bitpanda GmbH, Stella Klein Löw Weg 17, 1020 Vienna
General Terms and Conditions for P.F.C.: the terms and conditions applicable for P.F.C.’s services in the App including the payment accounts and payment services
Terms and Conditions for Crypto Investments: these terms and conditions
Access Service: a functionality within our App that allows you to access Bitpanda’s online platform and its Crypto Services
Bitpanda Account: a user account with Bitpanda obtained by registering via the Access Service
Crypto Services: the broker, wallet and custodial services offered by Bitpanda to you
Bitpanda System: Bitpanda’s online platform where you access the Crypto Services
Unless otherwise stated, defined concepts and definitions shall have the same meaning as they have in the General Terms and Conditions for P.F.C.
2.1. You and we are the parties in the agreement of the Access Service that is governed by these terms and conditions.
2.2. These terms and conditions apply to the crypto investment product and set out the Access Service as a functionality within the App that allows you to access Bitpanda’s online platform and the Crypto Services.
2.3. The General Terms and Conditions for P.F.C. apply to the Access Service unless otherwise is stated herein. Should there be any discrepancies between these terms and conditions and the General Terms and Conditions for P.F.C., these terms and conditions shall prevail.
2.4. For the purchase and sale of crypto assets and the use of the Crypto Services, Bitpanda’s General Terms and Conditions for the Use of Bitpanda’s Services (“Bitpanda WL TC”) apply. As the Access Service provided by us and the Crypto Services provided by Bitpanda can only be used jointly, both these terms and conditions and Bitpanda WL TC need to be accepted by you.
3.1. In order to have access to the Access Service, you need to register in the App and have a P.F.C. Account. Additionally, in order to have access to the Bitpanda System, you have to create a Bitpanda Account, which is made by answering a series of questions. As part of the registration process, you need to pass the verification process, in which it is ensured that you have been appropriately identified, (re)verified and the registration data has been authenticated in accordance with the applicable laws including anti-money laundering regulations. In order to enable Bitpanda to create a Bitpanda Account, we are explicitly allowed to forward any personal information to Bitpanda if necessary for the provision of the services.
3.2. We do not guarantee that you may open a Bitpanda Account even if all requested information has been provided. The reasons for this may include, but are not limited to, legal restrictions or economic considerations.
3.3. The Access Service functionality within the App allows you to directly access and interact with the Bitpanda System. Via the Access Service, Bitpanda provides you with relevant information, in particular information on executed purchases, sale orders and your crypto assets. Access to the Crypto Services and interaction with the Bitpanda System is only possible through the Access Service.
4.1. By accepting these terms and conditions you confirm that you are not:
4.1.1. younger than 18 years or (if higher) of the age legally required to use the Access Service and the Crypto Services;
4.1.2. a natural person from the United States, being
4.1.2.1. a person with citizenship of such country;
4.1.2.2. a person having its residence in such country;
4.1.3. a natural person that is subject to economic sanctions by the UN, the EU, the United States or the United Kingdom;
4.1.4. subject to any of the measures described in section 8.3.
4.2. We may at any time exclude any person or jurisdiction from being eligible for the Access Service.
5.1. You are responsible for ensuring that sensitive security information related to the Access Service and the Crypto Services are handled securely and kept unavailable to unauthorized persons (others than you) in accordance with section 28 of the General Terms and Conditions for P.F.C.
5.2. You shall provide any necessary data and/or other information that is required in order to offer the Crypto Services as long as this is not unreasonable for you. This concerns, inter alia, details with regard to proof of origin of funds (such as banking statements or any other details provided by banks or financial institutions, contracts of sales or contracts in general, or any other suitable data). The documents and data submitted by you to us may be subject to verification by Bitpanda. Bitpanda will verify the documents as quickly as possible. However, it may happen that a verification will be delayed. As a result, the execution of the requested transaction may be delayed or, if the documents submitted is not deemed sufficient by Bitpanda for objectively justified reasons, may not be carried out at all.
6.1. We will charge you a transaction fee for every crypto asset transaction you do (purchase and sale). The current fees are available on our website www.getpfc.com. We have the right to change the fees from time to time. Applicable fees will always be available in your purchase or sale order.
6.2. Purchase and sale orders for crypto assets are directly processed and executed by Bitpanda.
6.3. An order to purchase crypto is considered as a payment order that you make to transfer funds for the purchase from your P.F.C. Account to Bitpanda. Payment orders are regulated in the General Terms and Conditions for P.F.C.
6.4. Bitpanda only uses Euros. All trading through the Access Service is made in Swedish krona. We do a currency exchange between Euro and Swedish krona at purchases and sale of crypto assets, which can affect the price and the amount of crypto currency you get/dispose when you buy and sell.
6.5. Payment settlement for purchases and sales of crypto assets is only possible via your P.F.C. Account. Additionally, a purchase of crypto assets is only possible if you have sufficient funds on your P.F.C. Account.
6.6. By submitting a Final Buy Offer (as defined in Bitpanda WL TC) to Bitpanda, you instruct us to make a payment on behalf of you to Bitpanda from your P.F.C. Account in the amount of the total purchase price including fees to be paid in accordance with the Final Buy Offer.
The right of withdrawal under the Act on Distance Contracts and Off-Premises Contracts (Sw. lagen (2005:59) om distansavtal och avtal utanför affärslokaler) does not apply when you buy and sell crypto assets as the price depends on fluctuations in the financial market over which Bitpanda has no control and which may occur within the withdrawal period.
8.1. We reserve the right to suspend the Access Service fully or partially for a certain period of time or permanently with immediate effect insofar there is a good cause to do so according to section 8.3.
8.2. A full or partial suspension of the Access Service means a full or partial suspension of the Bitpanda System including suspending access to the Bitpanda Account and the Crypto Services. Suspension to any extent means that buying and selling crypto assets may be disabled. In any case of a full or partial suspension based on the reasons determined in clause 8.3, the interest and the security of us prevails over your right of disposal of your crypto assets. In these cases, any claims against us and/or Bitpanda due to losses or damages are excluded.
8.3. In addition to section 26 of the General Terms and Conditions for P.F.C., we are entitled to suspend your access to the Access Service, in full or partial, if:
8.3.1. we have sufficient evidence to believe that you have been convicted or accused of (including any reasonably documented media reports or market rumors) any breach or violation of criminal, administrative or tax laws in any country of the world;
8.3.2. official investigations by any competent public authority against you and in relation to P.F.C. Account have been initiated or threatened with respect to any breach or violation of relevant criminal, administrative or tax laws in any country of the world;
8.3.3. we need to do so in order to comply with any (i) applicable law or regulation (in particular for anti-money laundering and terrorism financing purposes), (ii) internal guidelines based on such law or regulation, (iii) any order or request by a court or other authority, or (iv) any applicable sanctions program;
8.3.4. you conceal your correct identity or origin of funds by providing incorrect, incomplete, outdated or misleading data;
8.3.5. you use a Bitpanda Account without legal entitlement;
8.3.6. we reasonably believe that the Bitpanda Account is being used by a person other than you;
8.3.7. you manipulate the Access Service and/or the Crypto Services and/or the Bitpanda System. Such manipulation is in particular any use of an automated system (e.g. bot) or any other tool or method which deviates from normal and typical trading behavior of retail investors and, hence, indicates the involvement of a certain technology, software and/or system automating such trading;
8.3.8. you have breached any of your obligations under these terms and conditions and have failed to cure such breach within 10 business days from the date of notification of such breach by us;
8.3.9. you use the Access Service in a way that is clearly intended to damage the Access Service and/or the Crypto Services and/or clearly causes damage to us and/or Bitpanda;
8.3.10. insolvency or similar proceedings have been initiated relating to you. The Bitpanda Account and all activity related thereto may be suspended in the event of insolvency proceedings until it has been clarified who may dispose of the Bitpanda Account in accordance with applicable laws;
8.3.11. you lose your legal capacity to act. The Bitpanda Account and all activity related thereto may be suspended in the event of a loss of legal capacity to act until it has been clarified who may dispose of the Bitpanda Account with applicable laws;
8.3.12. upon your death.
9.1. You can terminate the business relationship with Bitpanda for the use of the Crypto Services in accordance with the Bitpanda WL TC. If you terminate the Crypto Services, your access to the Access Service will be terminated accordingly. This means that buying and selling crypto assets using the Access Service will be disabled.
9.2. By terminating the Crypto Services, your customer relationship with us will not be terminated. Termination of your customer relationship with us needs to be terminated separately in accordance with the General Terms and Conditions for P.F.C.
9.3. Section 32.2 of the General Terms and Conditions for P.F.C., regarding immediate termination, does not apply if you have crypto assets on your Bitpanda Account. If you hold crypto assets and terminate your customer relationship with us, we will await the withdrawal of such crypto assets before terminating your customer relationship with us. This means that the termination will only have immediate effect if you have sold all your crypto assets before termination.
9.4. If you or we terminate your customer relationship with us, the Access Service can no longer be used to access the Crypto Services and interact with the Bitpanda System. Buying and selling crypto assets using the Access Service will be disabled.
10.1. Save for section 10.4 below, amendments to these terms and conditions may be made with immediate effect only if you expressly have agreed to the amendments. We have, however, always the right to immediate minor changes in these terms and conditions such as clarifications and changes that do not have any negative impact on you and your rights.
10.2. We have the right to amend these terms and conditions by notifying you of such amendments at least two months before the amendments enter into force. Information about changes in these terms and conditions, will be sent by email to the email address provided by you upon registration in the App. Updated terms and conditions will also be made available in the App and/or on our website www.getpfc.com.
10.3. If you do not approve the amended terms and conditions, you must notify us no later than the day before the amended terms come into effect. If you do not agree to the amended terms, we have the right to remove your access to the Access Service on the day that the amendments take effect. This means that the Access Service can no longer be used to access the Crypto Services and interact with the Bitpanda System. Thus, buying and selling crypto assets using the Access Service will be disabled. You then have an obligation to sell your crypto assets without undue delay, and at the latest the day before the day on which the amendments take effect. If you have not notified us by the day the amended terms and conditions take effect, it is considered as though you have approved the new terms and conditions.
10.4. We always have the right, with immediate effect, to make such amendments to these terms and conditions (including price changes) that are prompted by Swedish or foreign laws, or regulations or other binding decisions made by Swedish or foreign law-making bodies, authorities, or judicial bodies.
Using the Crypto Services bears risks, each of which may, in the worst case, lead to the total loss of the money you have invested.
12.1. An addition to the limitations of liabilities in the General Terms and Conditions for P.F.C., claims for damages or loss are excluded insofar as they arise from the fact that we suspend or block access to the Crypto Services and this leads to delayed or failed transactions, or that you cannot do transactions at all, due to the suspicion of money laundering or terrorist financing or the suspicion of one or more reasons pursuant to section 8.3.
12.2. You use the Crypto Services as well as any Bitpanda System accessed via the Access Service at your own risk. The responsibility for the operation of the Crypto Services is exclusively and solely with Bitpanda. For the avoidance of doubt, it is made clear that the Access Service does not enable a direct technical access to the wallet, or any system implemented to safeguard your crypto assets. Any liability of us related thereto is excluded.
12.3. We are not liable for damages or loss that may be caused to you due to power failures, telecommunications failures, internet connection failure or failure of technical equipment not belonging to us.
12.4. We are not liable for loss caused by law enforcement, government action, war, lockout, strike, boycott and blockade or other unusual or unpredictable circumstance in Sweden or abroad, as we have no influence over and whose consequences would have been impossible for us to ward off. The reservation regarding strike, lockout, boycott and blockade also applies if we ourselves are subject to such a conflict. If there is an obstacle for us to execute transactions or to take any other action due to circumstances under this clause, the action may be postponed until the obstacle has ceased. Loss that may occur in other cases should not be covered by us if we have taken actions with normal care. We are not liable for any indirect loss, provided that such loss was not caused by our gross negligence.
12.5. The App is only supported on devices where the operating system has not been modified or configured to allow program installation from sources other than those approved by us (including but not limited to Apple App Store and Google Play). Use of the App on such device is at your sole discretion and, in such use, we may not be held liable for any economic loss or loss of data or information.
12.6. We do not guarantee that the App, thus the Access Service, may be used on all mobile devices at all times. The App may require the latest version of the mobile operating system in order to function.
13.1. In order to provide you the services pursuant to these terms and conditions, data will be shared with Bitpanda including the information that you are a customer of us.
13.2. Both we and Bitpanda are independent data controllers and process personal data in accordance with the General Data Protection Regulation (EU) 2016/679 (GDPR). More information about how we manage your personal data are disclosed in the privacy policy available on our website www.getpfc.com. Bitpanda’s privacy policy can be accessed via Bitpanda’s website www.bitpanda.com.
14.1. Information related to the Access Service and Crypto Services may be provided to you in more than one language. For instance, Bitpanda WL TC and Bitpanda’s customer support is in the English language.
14.2. Complaints and any issues related to the Crypto Services as well as the Bitpanda System will be forwarded to Bitpanda via the Access Service. Any resolutions will be forwarded by Bitpanda via the Access Service.
14.3. Complaints shall be submitted either via the chat in the App or via an email to hello@getpfc.com and state “Complaint” as the subject. If you have complaints on the Access Service and you consider that a complaint does not result in a satisfactory correction on the part of us, you may apply to the National Board for Consumer Disputed (Sw. Allmänna Reklamationsnämnden) ("ARN"), Box 174, 101 23 Stockholm, www.arn.se. The notification to ARN must be made in writing. In order for ARN to examine the case, there are, among other things, certain values and time limits.
15.1. Swedish law applies to this agreement and if there is a dispute to be resolved in court, it shall be brought forward to Swedish Court. However, we have the right to bring a case forward in another country if you have your residence there or have assets there.
16.1. Our delay in exercising a right or imposing a penalty under these terms and conditions shall not affect our ability to subsequently exercise the right or impose the penalty, except when we do not adhere to applicable time limits.
16.2. Should any provision or part thereof in these terms and conditions be found to be invalid or otherwise not applicable, the remaining parts of these terms and conditions shall not in any way be affected or impaired. Other provisions shall continue to be valid in full.
16.3. You are not entitled to transfer any rights or obligations under these terms and conditions without our prior written consent. However, we have the right to transfer our respective rights and obligations under these conditions to a third party. We shall inform you about the transfer in writing.