These standard terms and conditions are applicable for the services that we provide to you in the App.
This is an English translation. The Swedish original version can be found on www.getpfc.com. If there are any discrepancies between the Swedish version and the English translation, the Swedish version shall prevail.
These standard terms and conditions are applicable for:
· that services and functions that we provide to you;
· the payment accounts that we provide to the you; and
· the payment services that we provide and execute for you.
Account: the payment accounts that we provide to you
App: the application we provide in Appstore, and Android under the name P.F.C.
Duo Account: the payment account with two account holders which we start when two users connect to the Subscription Service Duo
Duo User: two users with a joint Duo Account
General Terms and Conditions: these terms and conditions
We/our: P.F.C. Technology AB, 556851-3112, Box 55983, 102 16 Stockholm
P.F.C. Account: the individual account that we provide to you as a part of the Service
P.F.C. Card: The debit card provided by us and issued by Svea Bank AB connected to an Account
Service/Services: the services that we provide to you under these General Terms and Conditions including the payment accounts and the payment services
Settlement Payments: payment transactions between members of a group (in the service Group),
Subscription Service: different types of subscription services in which you obtain more functionality
You/your: The natural person who has entered into and agreement with us to use our services
Payer: a person who holds a payment account and allows a payment order from that payment account
Payee: a person who is the intended recipient of funds which have been the subject of a payment transaction
Payment transaction: an act, initiated by the payer or on his behalf or by the payee, of placing, transferring, or withdrawing funds, irrespective of any underlying obligations between the payer and the payee;
Strong Customer Authentication: an authentication based on the use of two or more elements categorized as a) something only you know (for example personal code), b) something only you possess (for example card) c) a unique identifier of yours (for example fingerprint)
If there is uncertainty around definitions and interpretations of expressions, the definitions in the Swedish Payment Service Act (2010:751) apply (Sw. lagen om betaltjänster).
1.1 We are authorized by the Swedish Financial Supervisory Authority to provide payment services as a payment institution. We are under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen) and are subject, among other regulations, to the regulations laid down in payment service act on payment services as well as in the Swedish Financial Supervisory Authority's regulations and general advice on payment institutions and registered payment service providers (FFFS 2010:3).
1.2 You have the right to access the General Terms and Conditions and information about the Service at any time and may find the General Terms and Conditions and information regarding the Service in the App or on our website www.getpfc.com.
P.F.C. is a trademark owned by us. Through the App named P.F.C, We provide a number of services for physical individuals under the name P.F.C. Our board is placed in Stockholm.
We provide among other services debit cards connected to Account. To be able to get the P.F.C. Card, you need to apply for the card and accept the terms and conditions applicable for the P.F.C. Card. The application for the P.F.C Card needs to be approved by the Issuer and us. These terms do not regulate the use of the P.F.C. Card.
4.1 We provide several features as a part of the Service. The features change over time, and we reserve the right to, without further notice, change the availability of the features.
4.2 We provide inter alia the following features in the App:
· transaction overview for your Accounts;
· budget tool;
· categorization of your purchases made with the P.F.C. Card;
· the feature Group; and
· the feature Goals.
5.1 The following conditions must be met in order for a physical person to register, have full access to the Service and use the Service:
· You have to be 18 years of age or older and authorized to enter into an agreement. For minors, the legal guardians may enter into an agreement and approve these terms and conditions, see further in 5.2.
· You have to be registered in Sweden, have a Swedish social security number and be permanently living in Sweden.
· You may not have a protected identity.
· You must respond to the questions we ask you in order for us to obtain full customer knowledge
5.2 Children under the age of 18 may, with the approval of their guardians, be connected to the service Junior, where they can access a limited part of the Service and can apply for P.F.C. Card. Junior is regulated by separate terms and conditions.
5.3 The Service may not be used for funds or transactions relating to business activities or to the assets and transactions of legal entities.
5.4 You agree to notify us if you are or have been a politically exposed person* ("PEP") and thus have or have held a high political or governmental position, or in the event that you are a related and/or known associate of a PEP. Such notice shall be sent to us by e-mail and include details of the social security number, address, function, title and country of activity or organization regarding you or the PEP to whom you are related and/or known employee. You further undertake to notify us of any changes in the circumstances set out in this paragraph.
5.5 You may only place funds that you are the owner of at your P.F.C. Account. At the Duo Account, you may place funds that the account holders own. Placement of funds that other than the account holder is the owner of constitutes significant breach of these terms and conditions.
5.6 We have the right to terminate the full customer engagement in accordance with point 32.3 and 32.4 if you do not fulfill the prerequisites for the service in point 5.1.
6.1 You may share information about card transactions with other users and in that way make it possible for other Users to gather their card transactions in a group in order to share joint expenses directly in the group through a Settlement Payment. Group members and card transactions can be added at any time after a group has been created until that group is deleted, but members cannot be removed from or leave a group. A group can be deleted at any time by a group member, which means that that group is deleted for all members of the group and that all transaction history in the group is deleted. However, the executed card transaction information remains in the individual users’ own transaction history and can, if necessary, be re-added to one or more groups.
6.2 All members of a group can see all of the card transactions that the group members have added to the group. A group member can at all times track the total sum of the card transactions that each and every one of the group members have added to that group ("Group Balance"). The total sum of all card transactions that group members have added to the group and how the Group Balance is distributed to the group members as set out in point 6.3 below.
6.3 Each individual member's share of the Group Balance is calculated according to the equation below where a positive balance means that the group member has paid more than his/her share of the Group Balance and a negative balance means that the group member has paid less than his /her share of the Group Balance:
-a/b+c+d-e = Group Balance
a = the sum of all transactions added by the members of the group, b = number of members of the group, c = the sum of the transactions in the group added by the group member and d = the sum of the Settlement Payments made by a group member and charged his/hers P.F.C. Account and e = the sum of the Settlement Payments received by the group member and credited to his/her P.F.C. Account.
6.4 Groups shall only be considered an aid to keep track of and calculate the distribution of shared expenses and to easily transfer money between members of a group. The use of a group does not result in any debts among the members of a group or between the group members and us. We have no responsibility for or connection to any underlying debt relationship between possible debts among the members of the group and the numbers of which the calculations are based on. We will not offer any aid (except for the transaction history) if a user wishes specifications to be able to calculate the financial situation between the members of a group.
7.1 Goals allow you to earmark funds for a future Payment Transaction which, during the time of earmarking, cannot be used for purchase with the P.F.C. Card or for other Payment Transactions. You can choose between different options for when and how much money to earmark for a specific goal. The purpose of the feature Goals is that the funds earmarked for a specific goal shall be used for future Payment Transactions at the time specified by you. You can remove the earmark of the funds at any given time which makes the funds available for Payment Transactions.
7.2 You may not save funds without purpose and indefinitely by earmarking them in a goal or by placing funds on the P.F.C. Account or Duo Account for indefinite time. We reserve the right to terminate the earmark of funds if you, according to our assessment, abuse the feature Goals and do not use it as intended.
8.1 We provide a number of features and services governed by these terms and conditions. Some of the features and services are included in the basic services provided by us free of charge, while other features and/or services or upgraded versions are provided only to persons with a specific subscription. If you sign up for a Subscription Service, you sign up for a service that we provide to you for a set fee. If you register for a Subscription Service, you approve that you will be charged the fee in accordance with the applicable price list and description at our website and in the App.
8.2 If you sign up for a Subscription Service, the fee is charged to an Account that you are the account holder of. Which account that will be debited is found at the description of each Subscription Service. The fee will be charged at the start of every billing period.
8.3 The fee for the Subscription Service is not referring to the issuing of the P.F.C. Card but is debited by us for the additional service or feature that is included in the Subscription Service. If you do not have enough funds on the relevant account to cover for the fee for the Subscriptions Service, the account may be over drafted which may result in additional charge, see further in point 27.2.
8.4 When you sign up for a Subscription Service, you choose an interval for the charges of the fees for service. The subscription cost will be charged regularly starting from when the Subscription Service is activated until the Subscription Service is terminated. You can generally terminate the Subscription Service at any time. For Junior, only the Account Owning User can terminate the Subscription Service. If you terminate a Subscription Service, no more fees will be charged, and the Subscription Service will be terminated by the end of the billing period. Paid fees will not be refunded. That means that if you have chosen yearly payment and the Subscription Service is terminated before the year, we will not do a refund even if the Subscription Service is terminated.
8.5 We have the right to terminate Subscription Services under the same terms as termination of the full engagement regulated in point 32.
9.1 The person who first signs up for a Junior is referred to as the “Account Owning User”. For Junior, additional person may be added without any additional charge if the person enters into an agreement with us and accepts these terms and conditions. Only registered legal guardians can be added to Junior for that specific child.
9.2 The fee for Junior will be charged to the P.F.C. Account of the Account Owning User at the start of every billing period.
Premium is a Subscription Service where we provide additional features and other benefits. The features and benefits of Premium are described on our website and may change from time to time. The fee for Premium will be charged to your P.F.C. Account.
11.1 Duo is a Subscription Service where two persons (Duo Users) have a joint account (Duo Account). The Duo Account is opened when both Duo Users have accepted to sign up to the Subscription Service. Both Duo Users are holders of the Duo Account.
11.2 We have no responsibility or connection to any underlying debts between the Duo Users. We will not offer any aid (except the transaction history in the App) or summaries for you if you wish to settle the financial situation between you and the other Duo User.
11.3 The fee for Duo will be charged to the Duo Account. By accepting an invitation to Duo, you accept that the fee for Duo will be charged to the Duo Account.
11.4 Both Duo Users are jointly liable for the debts that may occur on the Duo Account. Both Duo Users may terminate Duo. The Subscription Service including the Duo Account will be terminated when paid billing period comes to an end. When the Duo Account is closed, any remaining positive balance will be shared evenly between the two Duo Users and will automatically be transferred by us to your individual P.F.C. Accounts.
11.5 If the one or both Duo Users are terminated for any reason or if we block any of the Duo Users access in accordance with point 26 below, both Duo Users may lose the access to the Duo Account with immediate effect. Any funds on the Duo Account remain on the account even though the account holders lose the access. We will decide at our own disclosure to which Duo User the funds will be paid.
12.1 We may provide services and products from third-party providers. You are in such cases given the opportunity to enter into agreements for these services and products directly with the respective third-party provider. We are not responsible for the performance of these agreements between you and the third-party provider or for any disputes that may arise as a result of the agreements.
12.2 If Payment Transactions are made from Account to the third-party providers, the payment services are governed by these terms and conditions.
13.1 When we receive funds from you, these funds are placed with accountability with a Swedish bank, or a bank established within the European Union with a registered branch in Sweden and are kept separate from our own funds in accordance with the Commercial Legislation Funds Accounting Act (1944:181) (Sw. lag om redovisningsmedel). You are the owner of an accounting claim on us and the funds are thus protected in accordance with the Deposit Guarantee Scheme (1995:1571) (Sw. lag om insättningsgaranti) as if the funds were held in the bank account in your own name. We do not accept that you transfer such a claim.
13.2 Placement in a bank usually takes place in our name on behalf of you and your funds are placed with other persons funds, a client account). You are thus aware that your funds may be stored in a collection account at a bank. Whether you have a proprietary right of separation in the event that we or the bank would be bankrupt or affected by another measure with the corresponding legal effects may vary and depend on applicable law. In Sweden, the right of separation is generally applied, provided that the funds are kept separate from our own funds.
14.1 When you become a costumer and approve these terms and conditions, we will create a payment account for you (P.F.C. Account). We apply limitations on the account. For example, you cannot make payments to Plusgiro, Bankgiro, make withdrawals to foreign bank accounts or directly to any other user of P.F.C. Neither can you make a transaction to the account or from the account until you have responded to specific customer knowledge questions that we ask you. You will have access to the account when you have responded to our customer knowledge questions. We may also ask you further customer knowledge questions for specific services or transactions.
14.2 If there is more than one account holder, each account holder has the full right to dispose of the account.
14.3 We may charge the account with the following:
· amounts that you have requested or approved;
· costs or fees agreed between you and us;
· costs for missions that we have executed on behalf of you;
· costs for overdrafts and applicable interest for the overdraft; and
· costs in accordance with the applicable price list on our homepage.
The charges will be made in accordance with our routines at the time of the charge.
You must follow the instructions that we provide in the App or on our homepage, in order for the Service to function correctly and for Payment Transactions to be executed correctly. A transfer from an Account to another Account is normally executed instantly while other Payment Transactions might take a couple of bank days.
16.1 You are responsible to have sufficient funds in an Account for execution of a Payment Order and that the information in the Payment Order is sufficient and correct. We are responsible for the transfer of the amount and information to the Payee.
16.2 If we can prove that the receiving payment service provider has received a Payment Transaction, the receiving payment service provider is responsible for the execution of the Payment Transaction or if the Payment Transaction is defective. Should the receiving payment service provider, despite the liability, resent the amount, we are liable for the refund of the amount to you.
16.3 If we are liable for the execution of a Payment Transaction according to point 16.1 and the amount has not been transferred to the Payee’s service provider or the Payment Transaction has been defect and you have notified us in accordance with point 24, we shall in a suitable way and without undue delay refund the amount or restore the debited account to the state the account would have had if the defect Payment Transaction had not been executed.
16.4 At your request, we shall as soon as possible make efforts to trace the Payment Transaction and notify you of the outcome. This shall be free of charge for you.
16.5 When you make a Payment Order, the order is deemed to have been received by us when we have received your approval. The time of when we are deemed to have received the Payment Order made in another way, is found at the description of each transaction.
16.6 You may not revoke a Payment Order when we have received an approved Payment Order made with an approved security solution.
16.7 If you are the Payee and the Payer’s payment service provider can prove that we have received a Payment Transaction, we are liable for the execution of the Payment Transaction. Provided that you have notified us in accordance with point 25, we shall immediately put the amount of the Payment Transactions at your disposal or credit your Account with the same amount.
17.1 This point 18 is referring to the situation where a transaction is made within EES and in Swedish SEK, Euro or any other of the EES countries’ currency.
17.2 You have a right to receive a refund from us of an approved and executed Payment Transaction initiated by the Payee if:
- the exact amount of the transaction is not known at the moment of approval of transaction and
- the amount of the transaction exceeds the amount which you could reasonably have expected considering your previous spending pattern, the conditions in the framework contract and other relevant circumstances.
17.3 At your request, you shall bear the burden of proving that the requirements for repayment are met. You do not have the right to repayment if the difference in the amount is caused by the currency exchange rate that we use. Request for repayment shall be made within eight weeks of the date when the amount was debited to the Account. We shall within ten business days if the receiving a request for a refund, refund the requested amount or provide a justification for refusing the refund. We shall in connection to information about refusal indicate the bodies to which you may refer the matter.
Deposits to an Account can be made through the alternatives offered from time to time. Deposits to an Account may generally only be made by the holder of the Account However, deposits may be made in other ways through the features Junior and Group. If we discover a deposit from some other than the account holder, the deposit will not be credited to your Account, even if it is clear to whom the deposit was intended to be made to.
In addition to deposits and withdrawals, you can do transactions to other members of a Group. The transactions are made by approving a Settlement Payment in the service Group. Settlement Payments are based on the individual group member's balance in a Group calculated in accordance with point 6.3 above. By approving a settlement payment, you authorize that the Settlement Payment, and the stated amounts are transferred from your P.F.C. Account to the relevant group member’s P.F.C. Account (Payment Order). A Settlement Payment is normally executed immediately.
By using the features Duo and Junior, you can transfer funds from an Account of which you are the holder of to another account that you are the holder of or that you have access to (Payment Order). These are normally executed and accounted for immediately.
You can transfer funds from your P.F.C. Account to a bank account that you are the account holder of. You choose the amount and the bank account number to which the funds will be transferred to and by pressing "Approve", you accept the transfer and that the specified amount is transferred from your P.F.C. Account to the specified bank account (Payment Order). You undertake to only make withdrawals to bank accounts of which you are the account holder of. A withdrawal to a bank account is normally executed instantly but it may take up to three bank days until the transferred funds are accounted for and booked at the bank account.
If you have entered into a contract with a third-party provider trough us and make a Payment Order to the third-party Provider, the payment is normally executed instantly but it may take up to three bank days until transferred funds are accounted for and booked at the third-party provider.
23.1 If there has been an unauthorized transaction from any of your Accounts, we shall refund the amount as though the transaction had never been executed.
23.2 Refunds shall be made instantly and at the latest by the end of the bank day after we have received information about the transaction. Refunds will be made to the Account of which the relevant transaction has been executed, we have the right to investigate the matter before refund is made if there is reason to suspect that the transaction is correct.
23.3 If we have refunded an amount to you and we thereafter subsequently determine that the transaction was authorized or that you for any other reason were not entitled to recoup the full amount, you will be liable for repaying the amount to us. In such cases, we have the right to deduct the corresponding amount from the account that we have refunded.
23.4 If unauthorized transactions have been executed as a result of your failure to protect a personal security information such as mobile BankID, you shall pay the amount, up to a maximum of 400 SEK.
23.5 If unauthorized transactions have been executed from your Account as a result of a breach of these terms and conditions or the terms and conditions for the P.F.C. Card, you are liable for the full amount up to a maximum of 12 000 SEK. If you have acted fraudulently (Sw. särskilt klandervärt), you shall be liable for all losses relating to the unauthorized transaction.
23.6 You are however not responsible for any amount debited your Account if Strong Customer Authentication has not been used when the unauthorized transaction was initiated. This is however not applicable if you have caused or contributed to the execution of the fraudulent transaction.
23.7 Notification to us of an unauthorized transaction shall be made in accordance with point 25. Failure to do so results in your liability for the full amount charged to your account.
We provide transaction history in the App. You shall notify us and ask for correction without undue delay upon an unauthorized or incorrectly executed payment transaction. Notification made later than 13 months after the amount was debited the amount will not be considered by us. If you deny that you have authorized a Payment Transaction or that it is defective, you shall assist us in identifying the transaction. You also need to assist us in the investigation by providing the information we ask for. If you claim that a transaction is unauthorized, we require a copy of a police report.
We apply certain limits on transactions for a specific period. We may also set and communicate individual limits to you. Exceeding the limits may result in transactions not being able to be executed. It is your responsibility to follow and comply with the restrictions communicated by us regardless of if there are general limitations or individual limitations.
26.1 We reserve the right to block your access to the Service if:
· we consider there is a risk of unsafe use of the Service,
· we have reason to suspect that there is a right to immediate termination pursuant to 32.4 below or
· we suspect that the Service is used or has been used by an unauthorized person.
If we block the Service, we will inform you about this as soon as possible or sometimes warn you before we block the service. When there is no further reason for us to block your access to the Service, we shall suspend the block.
26.2 We immediately block your access to the Service or parts of the Service if you do not respond to customer knowledge questions.
27.1 The applicable prices are always listed on www.getpfc.com. We reserve the right to change prices and add fees. If the price change is to your disadvantage, we must notify you within at least 30 days before the price change is applied. The same applies if we choose to introduce a fee on services that have previously been offered without additional fees.
27.2 If you carry out a transaction for an amount exceeding the available balance at the account that you have at the time of execution and you do not top-up the balance with at least the total amount of the outstanding amount, we will charge you an administrative fee of 100 SEK (overdraft fee). We also have the right to charge interest for late payment in accordance with the 6 § Interest Act (Sw. Räntelagen 1975:635). Debts to us may be managed by a debt collection company and reminder fee, currently 60 SEK, may be charged. In addition to that, further statutory debt collection costs and other costs may be charged in order for us to exercise our rights.
28.1 You are responsible for ensuring that sensitive security information related to the Service, such as login information, passwords and the like, is used and handled securely and kept secret and unavailable to unauthorized persons (others than you).
28.2 You undertake:
-to not use the Service in violation of applicable law;
-to ensure that no one else than you use the Service
-to not note sensitive security information in such a way as to enable a third party to use the Service unauthorized, and
-not disclose or provide security information to a third party
28.3 You are responsible for using the Service in accordance with our instructions and these General Terms and Conditions and undertake not to use the Service in a manner that could cause harm to us or third parties.
28.4 Subject to the disclosure of unauthorized transactions in point 23, you undertake to indemnify us of any claims that third parties may claim from us based on your intentional or grossly negligent action, or failure to act, which violates these Terms and Conditions, unless our negligence, breach of contract or intentional purpose, caused harm to a third party.
28.5 You undertake to check the transaction history of your Account and review receipts. In the event that you fail to notify us of an unauthorized Transaction according to 21.6 you are liable for the entire amount charged to the relevant Account.
28.6 You shall, as soon as possible after detecting loss of security information or suspicion that any unauthorized person has received knowledge of password or equivalent information, contact us through the App or, if your do not have any access to the App, through email to email@example.com and state “block request” in as Subject.
29.1 We are not liable for defect transactions if you have filled in wrong information or if you have not followed our instructions.
29.2 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.
29.3 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.
29.4 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 devices 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.
31.1 Save for point 31.4 below, amendments to these General 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.
31.2 We have the right to amend these General Terms and Conditions by notifying you of such amendments at least two months before the amendments enter into force. Information about changes in the General Terms and Conditions, will be sent by e-mail to the e-mail address provided by you upon registration and updated General Terms and Conditions, will be made available in the App and/or on our website www.getpfc.com.
31.3 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 close the customer relationship with us on the day that the amendments take effect. If you have not notified us by the day that the amended terms and conditions take effect, it is considered as though you have approved the new terms and conditions.
31.4 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.
32.1 These terms and conditions are in force until further notice.
32.2 You have the right to terminate the customer relationship at any time with immediate effect. Termination shall be made in writing to us through the in-app chat or in other way that we instruct from time to time.
32.3 We have the right to terminate the customer relationship in writing (through email or in-app chat) , subject to a notice period of two months. We do not have to provide grounds for the termination.
32.4 We have the right to terminate the customer relationship with immediate effect if you have committed a material breach of contract. We also have the right to terminate customer relationship for the Service if:
a) you have provided incorrect information in connection with the initiation of the contractual relationship, including incorrect information to the Issuer, and accurate information would have led to you not being able to enter into a customer relationship with us or the Issuer;
b) you have not fulfilled your obligations to us;
c) we consider that we do not have sufficient information about you in accordance with the Act on Measures against Money Laundering and Financing of Terrorism (2017:630) (Sw. lagen om åtgärder mot penningtvätt och finansiering av terrorism);
d) we suspect that the Service including Accounts, the App or the Card has been used by someone else than you;
e) you have used the Service and/or the Card for illegal purposes;
f) you have not made any transactions for the past 24 months;
g) we suspect that you have used the Service in breach with laws or other binding provision by authorities;
h) you are deceased, declared bankruptcy or is subject to a trustee in accordance with chapter 11, 7 § Parental Code (1949:381) (Sw. föräldrabalken); or
i) you do not provide information we have asked you for or if you do not meet the requirement that we have on you in accordance with law or binding provisions.
32.5 If there are reserved funds that have not been accounted for, we may wait until the reservations have been cleared and terminate the customer relationship thereafter.
32.6 When the customer relationship ceases due to termination or for any other reason, the right to new transactions or otherwise use the Service will cease. You are liable for both for transactions that were carried out before the right to use the Service had expired but are booked to your account after the termination and for transactions carried out despite the discontinuation of the right to use the Service.
32.7 If the balance at the P.F.C. Account is below 0.5% of the current base amount (Sw. prisbasbelopp) according to the National Insurance Act (1962:381) (Sw. lagen om allmän försäkring) and you have not made any deposits or withdrawals during the previous 24 months, we are not obligated to pay the remaining balance on an account to you, unless you request it.
33.1 Complaints regarding the Service shall be sent to our complaints manager via e-mail to firstname.lastname@example.org and state “Complaint” as the subject. You may request a copy of the procedure at any time by contacting our customer service.
33.2 If 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 the ARN to examine the case, there are, among other things, certain values, and time limits.
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.
35.1 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.
35.2 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.
35.3 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.
36.1 Swedish is used for the contractual relationship and communication between the parties. Written messages from us to you are sent primarily by notice to your account in the App and e-mail and shall be deemed to have been received by you no later than the following day. It is therefore important that you ensure that you, in the app, have enabled the notification features via the App for notifications to your e-mail address, mobile phone, and user account in the App. We will only send information to the contact information you have provided to us. We may not be held liable for notifications or messages that have not been obtained by you because you have entered incorrect or outdated contact information. We may in specific cases also contact you by letter to your publicly registered mail address.
36.2 If we suspect unauthorized use of the Service or security information, we may contact you in other ways than stated above, provided that we find it suitable in the individual case. We may for example ask about if a specific transaction has been made or which date a specific transaction was made. We will never ask you to provide security information such as codes.
37.1 Under the Act on Distance Contracts and Off-Premises Contracts (2005:59) (Sw. lag om distansavtal och avtal utanför affärslokaler), you are entitled to withdraw certain financial services with us (withdrawal) if the agreement has been concluded at a distance or elsewhere than in our business premises. The right of withdrawal for agreements outside our business premises is valid only if the price that you will pay in total under the agreement exceeds 400 SEK. Distance agreement is an agreement where we and the customer have not met personally, e.g., when contracts are concluded via the Internet.
37.2 If you want to exercise their right of withdrawal under the law may do so by sending a message to us within 14 days from the date of the agreement with us or from the date you received these terms and conditions if at a later date than upon entering into the agreement. The right to withdrawal only applies to these general terms and conditions and not the transactions made before you exercised your right of withdrawal.
37.3 If you exercise your right of withdrawal, we have the right to compensation for the contracted service for the time you have had the service and for costs incurred before the right of withdrawal was exercised.
* Politically exposed persons (PEP)
The Act (2017:630) on Measures against Money Laundering and Financing of Terrorism (2017:630) (Sw. lagen om åtgärder mot penningvtätt och finansiering av terrorism) contains certain provisions for the establishment of business relations with politically exposed persons (PEP), including requirements for stricter measures to achieve knowledge about customers. The PTL defines a PEP as “a) physical person who has or has had an important public function in a state; and b) a physical person who has or has had a role in the management of an international organization.” Furthermore, the kind of provisions mentioned above shall also apply to a PEP’s family members and close associates. The Swedish Financial Supervisory Authority has issued supplementary regulations in this area (FFFS 2017:11).
The notion of important public function refers to functions held by:
a. heads of state or government, ministers and deputy and assistant ministers;
b. members of parliament;
c. members of the boards of political parties;
d. judges of the Supreme Court, constitutional courts or other high-level legal bodies whose judgments can only be appealed against in exceptional cases;
e. senior officials at audit authorities and members of central banks’ governing bodies;
f. ambassadors, heads of mission and high-ranking officers in the Armed Forces;
g. people included in the administration, management or supervision of state-owned companies; and
h. people in the management of international organizations.
Family members mean:
2. registered partners;
5. children’s spouses, registered partners or cohabitants; and
Close associate means:
1. a physical person who, according to what is known or can reasonably be assumed, is jointly with a PEP a beneficial owner of legal entities or legal arrangements or who otherwise has or has had close links with a PEP; and
2. a physical person who is the sole beneficial owner of a legal entity or legal arrangement which, according to what is known or can reasonably be assumed, has actually been established in favor of a PEP.
The notion of close links in clause 1 refers to close business relationships and other relationships that may cause the close associate to be linked to an increased risk of money laundering or terrorist financing.