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The protection of your personal data is very important to Wirecard Bank AG (hereinafter referred to as "Wirecard"). Personal data is collected and used by Wirecard for specific purposes in accordance with statutory provisions, in particular in accordance with the provisions of the German Federal Data Protection Act [Bundesdatenschutzgesetz, "BDSG"] and the provisions of the German Teleservices Data Protection Act [Teledienstedatenschutzgesetz, "TDDSG"]. The following declaration explains to you what personal data Wirecard collects when keeping accounts in connection with Wirecard transactions and when you visit the Wirecard website and how said data is used by Wirecard.
Terms and Conditions for Wirecard Bank AG's Wirecard Wallet
- 1. Scope of Application for this Declaration
The rules and regulations set out in this Article A shall apply to all Wallets issued by Wirecard Bank AG, Einsteinring 35, 85609 Aschheim, Germany ("Bank"). The Bank is a deposit-taking credit institution approved and supervised by the German Federal Office for the Supervision of Financial Services [Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin"].
- 1. Possible Uses
1.1. Points of Use
The Wirecard Wallet ("Wallet") is issued by the Bank as a prepaid payment instrument (electronic money). The holder of the Wallet ("User") can, in accordance with the following provisions:
- use the Wallet as a prepaid instrument for payment purposes at the points authorized to accept the Wallet or to transfer electronic cash from the Wallet to the Wirecard Wallet of another User at the Bank and
- optionally use a physical MasterCard credit card ("Wallet Card") to dispose of the prepaid credit in the Wallet (only for credit balances, crediting not possible) in order to use the prepaid credit for payment purposes at appropriately authorized acceptors or to redeem credit from the credit balance at its nominal value in cash at automated teller machines (ATMs).
The credit balance in the Wallet can be used by the User as electronic money in accordance with these Terms and Conditions using the authorized processes and at the authorized acceptors. The issue of the Wallet Card only gives the User another technical option of using his prepaid credit balance in the Wallet; the Wallet Card is not a credit card and does not allow any overdraft facility or other crediting of payment transactions.
The acceptance points and acceptance terminals, and loading points and loading terminals, to which these Terms and Conditions refer can be recognized by acceptance symbols, of which the Bank advises the User, or as embossed on the Wallet Card. The Bank's obligation to provide service does not include any obligation that every acceptance point will accept the Wallet Card or that ATMs designated with the acceptance symbols, as stated in the above sentence, are available or in working order.
1.2. Using the Wallet's Loaded Credit Balance
Payment of the transactions effected using the Wallet shall be made solely from the loaded credit balance. Irrespective of whether or not a Wallet Card is issued, the User may only use the Wallet in such a way that ensures that the transactions effected using the Wallet are settled from the loaded credit balance. The User shall always be obligated to ensure that he does not enter into any payment transactions that are likely to trigger amounts for payment that are higher than the credit balance loaded in the Wallet. The Wallet may therefore not be used in certain sectors or for certain types of use. In particular, the User is not entitled to use the Wallet for blank payment transactions where the final amount to be debited from the Wallet is not yet fixed at the time of authorization. This particularly applies to the reservation or collection of rental cars, hotel room reservations, the automated payment of fuel at gas stations before the filling process has been completed, the payment of recurring payments such as membership fees or subscriptions, in particular also telecommunications services where the amount is not fixed, deposits for future goods/services, providing deposits or other security, as well as the payment of transactions which take place in contravention of the respectively applicable statutory provisions, e.g., prohibited games of chance or lotteries, transactions in breach of the provisions for the protection of minors, etc.
1.3. Limits of Use
In transactions with the Wallet without using a Wallet Card, the User can only dispose of up to a maximum transaction limit per individual transaction in accordance with the respectively applicable limit specified the List of Prices and Limits. The Bank's current List of Prices and Limits can be called up and reviewed on the Internet under www.mywirecard.com.
In transactions using the Wallet Card, the daily limits set out in the List of Prices and Limits shall apply as the maximum daily spending amounts.
1.4. Other Payments
The User can transfer electronic money within the scope of the loaded credit balance in the Wallet to other users of a Wirecard Wallet at the Bank by stating the information required for the transfer as notified by the Bank ("Transfer").
Wire transfers to another bank account using the bank routing number, account number, IBAN, or BIC are not permitted, nor may direct debits to the debit of the Wallet or standing orders be granted with the Wallet.
1.5. Amendments to Product Features and Processes
Irrespective of the right to make amendments reserved under Section 16, the Bank shall be entitled to amend or supplement the product features or processes described in this Section 1 with effect for the future by complying with a notice period of two weeks after notice/announcement to the User if the Bank considers said amendments to be necessary because of possible abusive practices or said amendments become necessary due to requirements of the credit card organizations or the Bank would like to amend the product features or the processes for using the Wallet for other reasons according to its equitable discretion (§ 315 German Civil Code [GCC]).
- 2. Means of Identification and Activating the Wallet
2.1. Means of Identification
The Bank shall provide the User with various means of identification (e.g., identification number, PIN, login, and password for Internet access), which are required to use various service functions. The Bank shall inform the User separately about the use of the means of identification. The User must ensure that no other person discovers the User's means of identification. In particular, the means of identification may in no case be communicated to third parties, noted on the Wallet Card, or kept together with the Wallet Card. Anyone who discovers the means of identification can use them for abusive purposes.
2.2. Activating the Wallet
The Wallet will only be activated and can only be used for payment transactions once a sum in the amount of at least the minimum load amount has been loaded into the Wallet by the User and the Bank has allocated the Wallet's MasterCard number together with an expiry date and CVC number to the User. The application to set up the Wallet is deemed to have been accepted by the Bank when it notifies the User of the means of identification mentioned in sentence 1. The minimum load amount applicable to the Wallet, which amount must at least have been loaded in order to activate the Wallet, is set out in the List of Prices and Limits applicable to the Wallet.
2.3. Activating the Wallet with the Wallet Card
If the User agrees with the Bank to also use the Wallet Card as well as the Wallet (see Section 1), the Wallet shall be activated as described in Section 2.2. The application to have a Wallet Card issued is deemed to have been accepted by the Bank when it sends the Wallet Card to the User. Immediately after receipt, the User must sign the Wallet Card in the place intended for signature in accordance with the information provided to the User by the Bank. In order to use the Wallet Card at ATMs, the User shall be sent a PIN code, which the User must open immediately upon receipt; the User should note this code and then destroy it immediately thereafter. The User is prohibited from keeping the PIN code together with the Wallet Card or from noting it on the Wallet Card.
2.4. Prohibition of Double Registration
The User is expressly prohibited from applying for a second Wallet from the Bank for himself or for someone else's use who acts for the account of the User as an ostensibly registered user of the Wallet. When applying for the Wallet, the User has expressly warranted that he himself is not yet a User of a Wallet and that no other User holds a Wallet for his account.
- 3. Fees and Limits
3.1. The Charging of and the Amount of Fees
The Bank is entitled to charge the User fees for the services used by the User under this Agreement ("Wallet Agreement").
The Bank shall not charge any fees for services if and to the extent it shall be obligated by operation of law or on the basis of a secondary contractual obligation to render said services free of charge or if it performs such services solely in the interests of the Bank. In particular, the Bank shall charge a reasonable fee that is in line with the Bank's actual costs for performing statutory secondary obligations in connection with rendering payment services under §§ 675 et seq. German Civil Code [Bürgerliches Gesetzbuch, "BGB"] only if and to the extent that this is permitted by statute.
The amount of the fees is set out in the Bank's List of Prices and Limits (see the Annex to this Agreement and Section 1.3). The Bank in particular levies fees in accordance with the List of Prices and Limits for loading and for locking the Wallet as well as for foreign currency transactions, extending the Wallet's period of validity when a new Wallet Card is sent, and for paying out credit balances from the Wallet upon termination of the Agreement. Furthermore, the Bank is entitled to charge a fee in accordance with the List of Prices and Limits for the notification of a justified rejection of a transaction and for recovering transaction amounts that have been misdirected because the User has given an incorrect customer identifier (see Section 14.2 (4)).
3.2. Altering the Fees
The Bank can alter or reset the fees or limits referred to in Section 3.1 above or those set out in the List of Prices and Limits by exercising equitable discretion (§ 315 German Civil Code) but tied to the extent of the increase or reduction in its own costs. In all other respects Section 16 shall apply.
- 4. The User's Duties and Obligations
4.1. Safekeeping of the User Medium (Means of Identification and Wallet Card)
Upon receipt, the User must keep his means of identification (Section 2) and the Wallet Card (both together hereinafter referred to as "the User Medium") with particular care in order to protect them against misuse, and must thereby take all reasonable precautions to protect the Wallet Card and the means of identification against unauthorized access. Anyone who comes to have possession of the User Medium will be able to use the User Medium for payment purposes.
In particular, the User may not hand over the User Medium to third parties or authorize third parties to use the User Medium or to discover the means of identification. In particular,
- the means of identification may on no account be communicated to third parties, be kept together with the Wallet Card, or noted on the Wallet Card, and
- the User must enter/use the means of identification in such a way that third parties cannot cannot gain access to this information.
4.2. Notification of Unauthorized or Incorrect Transactions; Obligations in the Event of Loss and Misuse
If the User learns that his User Medium has been lost or stolen or of any misuse or other unauthorized use of his User Medium, the User must immediately inform the Bank, Einsteinring 35, 85609 Aschheim, Germany, +49 (0) 180 5 94 73 22 ("Lock Notice"). The User must likewise inform the Bank immediately if he discovers an incorrect transaction.
Following notification by the User of the loss, theft, misuse, or other unauthorized use, the Bank will lock the User Medium. In the event that the User Medium has been stolen or misused, the User must also report this to the police immediately.
4.3. Notification of Any Change in Personal Details
The User must notify the Bank immediately of any change in his personal details as well as of any change in his bank or credit card details. In the event of any breach of this obligation, the User must compensate the Bank for any extra cost incurred thereby by the Bank and/or any other loss incurred thereby.
- 5. Prepaid Credit, Payments/Transfers, Execution Periods
5.1. Payment Instrument
The prepaid credit in the Wallet serves as electronic money solely as a payment instrument of the User; it is not connected to the User's checking account with the Bank, and is operated without earning interest.
Any dispositions which produce, increase, or reduce the credit balance, such as loading and unloading credit, paying with or transferring electronic money, and debiting charges and fees shall be settled immediately upon every transaction as a revolving account (adjusted current account in the Wallet) so the credit balance which the User can use is always only the respective balance of the postings.
5.2. No Assignments
The User is not entitled to assign or pledge his claims against the Bank, in particular his claim arising out of the prepaid credit balance, to third parties without the consent of the Bank.
5.3. The Wallet's Currency
The Wallet's credit balance shall be kept in the currency which the User designated when applying for the Wallet. Any further loading or unloading of credit as well as use of the credit balance to make payment shall, as a matter of principle, be effected in said Wallet currency. If when using his Wallet the User initiates transactions in other currencies (e.g., disbursement at an ATM or use at an acceptance point in another currency), the Bank shall settle said foreign currency transactions at that day's rate of exchange more specifically defined in the List of Prices and Limits ("Exchange Rate") plus a charge as specified in the List of Prices and Limits for exchanging the currency. Changes in the Exchange Rate shall take effect in relation to the User immediately and without prior notification provided they are based on the reference exchange rates more specifically defined in the List of Prices and Limits (see Section 1.3). The reference exchange rate is the exchange rate that is used as a basis for every currency conversion and which is announced either by the Bank in the current List of Prices and Limits, which can be reviewed at any time on the Bank's homepage (www.mywirecard.com), or which originates from a publicly available source.
5.4. Payment with the Wallet
In the case of payments from a Wallet without a Wallet Card, the User, by using the means of identification required for the Wallet (see Section 2.1), irrevocably instructs the Bank to pay electronic money from the Wallet to the acceptance point to pay for the goods/services purchased and to debit it from the credit balance in the Wallet. The payment transaction becomes legally effective for the User when the means of identification are entered at the acceptance point and there is no possibility of revoking or cancelling the authorized payment transaction in relation to the Bank.
5.5. Use of the Wallet Card for the Purposes of Receiving Cash at ATMs
When using the Wallet Card at ATMs, the dispensing of money is authorized at the moment when the PIN code allocated to the User's Wallet is entered. Upon completion of the entry of the transaction data at the ATM and of the correct PIN code, the dispensing transaction becomes legally effective and there is no possibility of cancelling or revoking said authorized transaction in relation to the Bank. When the PIN code is entered, the Bank is instructed by the User to pay the authorized amount to the operator of the ATM. For use of the ATMs, the Bank is entitled to demand a charge from the User for every dispensing transaction - in accordance with the List of Prices and Limits - and, as the case may be, in addition the reimbursement of expenses from the User to the extent that the third-party bank operating the ATM levies an additional charge from the Bank.
5.6. Authorization of the Wallet Card at an Acceptance Point for Payment Purposes
When the Wallet Card is used at an acceptance point, the User authorizes the payment transaction by signing the written payment voucher. When the payment voucher is signed, the payment transaction becomes legally effective and there is no possibility of cancelling or revoking said transaction in relation to the Bank. By signing the payment voucher, the User irrevocably instructs the Bank to pay the authorized sum to the acceptance point.
5.7. The Transfer of Electronic Money to Another Wallet
When electronic money (see Section 1.4) is transferred from one Wallet to another Wallet, the User, by using the means of identification required for the Wallet (see Section 2.1) and in addition by entering the transfer information required for a Transfer (Section 1.4), irrevocably instructs the Bank to pay electronic money from the Wallet to other users of a Wallet and to debit it from the credit balance in the User's own Wallet. Upon completion of the entry of the means of identification and of the required transfer information, the Transfer order is received by the Bank, the Transfer becomes legally effective for the User, and there is no possibility of revoking or cancelling the authorized Transfer in relation to the Bank.
5.8. Execution Periods
Each time after an order for payment (see Sections 5.4 and 5.6), for dispensing cash (see Section 5.5), or for a Transfer (see Section 5.7) has been received, the Bank shall be obligated to ensure that the transaction amount is paid, refunded, or transferred as follows:
a) Payments in accordance with Sections 5.4 and 5.6
Here the payment transaction is initiated by the recipient. The Bank shall be obligated to ensure that, after the payment order has been received by the Bank, the payment amount is received by the recipient's payment service provider (acceptance point) as follows:
- Within the European Economic Area (EEA), the Bank shall execute User requests for payment in Euros, made before December 31, 2011, within a maximum of 3 business days (as of receipt of the payment order by the Bank); the statutory execution periods shall apply for payment orders made by the User as of January 1, 2012.
- - The Bank shall execute payments within the EEA in EEA currencies other than Euros within a maximum of 4 business days, and shall execute payments outside the EEA as soon as possible.
b) Dispensing cash pursuant to Section 5.5.
When cash is dispensed, the payment transaction is likewise initiated by the recipient (here the respective bank operating the ATM). The Bank shall be obligated to ensure that, after the payment order has been received by the Bank, the payment amount is received by the point operating the ATM or by the recipient's payment service provider in accordance with the execution periods stipulated under a) above.
c) Transfers pursuant to Section 5.7.
In the case of Transfers instructed by the User on or before December 31, 2011, the Bank shall ensure that the amount to be transferred is received by the recipient's payment service provider no later than the end of the third business day following receipt of the Transfer order. The statutory execution periods shall apply as of January 1, 2012.
In the case of Transfers within the European Economic Area (EEA) that are not made in Euros, the Bank shall ensure that the amount to be transferred is received by the recipient's payment service provider no later than by the end of the fourth business day following receipt of the Transfer order.
If, in breach of his obligations under Section 1.2 to use the Wallet within the scope of the loaded credit balance, the User initiates a payment transaction with an amount that is higher than the credit balance loaded in the Wallet and if this is not technically blocked in the course of processing the transaction, a deficit is thereby created to the User's debt in the amount of the sum not covered by the sum triggered by the payment transaction. The User shall be obligated to settle said deficit in relation to the Bank immediately. The User hereby already authorizes the Bank, in the event that any such deficit arises, to collect/settle said deficit with the loading mechanism (direct debit or credit card) provided by the User upon registration. If deficits occur in the event of a direct debit or card-based loading mechanism (e.g., wire transfer or values loaded by direct debit or credit card which are not covered or are cancelled), the Bank's claim against the User arising out of the deficit shall be due for payment immediately.
The User may not accept refunds on transactions concluded using the Wallet in the form of cash or cashless payments, but rather only in the form of a credit note signed by the acceptance point. If no credit has been made in the Wallet within eight weeks, the User must inform the Bank thereof by submitting a copy of the credit note.
- 6. Ownership and Validity of the User Medium
The Wallet Card shall remain the property of the Bank. It is non-transferable and may only be used by the User personally.
The User shall be notified of the User Medium's period of validity at the time when it is issued or it shall be embossed on the Wallet Card. When a new User Medium is issued, at the latest upon expiry of the validity of the User Medium, the User shall be obligated to destroy the old User Medium or return it to the Bank immediately. The credit balance loaded in the Wallet at the time the User Medium is returned shall be transferred to the new User Medium. If the Wallet still has a credit balance in the amount of the minimum load amount two months prior to expiry of the validity, the Bank shall automatically renew the User Medium. If, after expiry of the validity, the credit balance in the Wallet falls short of the minimum load amount, no new User Medium shall be issued; however, the Wallet's credit balance shall remain available for payment to the User (see Section 12).
- 7. The User's Right of Termination
The User can terminate the Wallet Agreement at any time without complying with any notice period.
- 8. The Bank's Right of Termination
8.1. Termination With Notice
The Bank may terminate the Wallet Agreement with a notice period of two months.
8.2. Termination Without Notice for Good Cause
The Bank can terminate the Wallet Agreement without notice for good cause. In particular, such good cause shall be deemed to exist if:
- the User fails to meet his payment obligations arising out of this Agreement to an extent that is not only minor within a reasonable period set by the Bank,
- the User manipulates the User Medium for fraudulent purposes,
- the User gives false statements, in particular regarding his personal details,
- the User initiates a payment transaction, the amount of which is not covered by the credit balance in the Wallet and a deficit occurs (Section 5.7),
- the User, contrary to his assurances when he applied for the Wallet, maintains more than one Wallet or allows someone else to hold an additional Wallet for the User's account,
- the User damages or destroys the User Medium intentionally or with gross negligence, or
- the User commits serious violations of other obligations under the Wallet Agreement.
- 9. Consequences of Terminating the Wallet Agreement
9.1. Expiration of Rights of Use and Return of User Medium
When a notice of termination becomes effective or in the event that the Wallet Agreement is otherwise terminated or expires ("Termination of the Wallet Agreement"), the User shall no longer be entitled to use the User Medium. In that case, the User must return his Wallet Card to the Bank immediately and without being asked to do so.
9.2. Refunding Unused Credit
Any credit balance loaded in the Wallet at the time when the User Medium is returned and/or the Wallet is terminated shall, upon the User's choice, be refunded either in cash or to an account stipulated by the User less any claims which the Bank has, in particular due to any loading processes not complied with or claims for charges or fees.
9.3. Immediate Applicability of Bank Claims
Upon Termination of the Wallet Agreement, all of the Bank's claims against the User arising out of the contractual relationship shall be due immediately.
- 10. Locking and Withdrawing the User Medium; Consequences of Withdrawal
10.1. Locking and Withdrawal
The Bank may arrange for the User Medium to be locked and/or withdrawn as a whole or for some of the possible uses described in Section 1 if it is justified in terminating the Wallet Agreement for good cause, in particular if the User has initiated a deficit with a transaction that is not covered by the credit balance. In such cases of locking the User Medium, the Bank shall - in accordance with the statutory provisions, in particular the German Federal Data Protection Act [Bundesdatenschutzgesetz] - be entitled to provide the credit reference agency Schufa with information on the User's conduct in breach of contract.
The Bank shall also be entitled to lock and/or withdraw the User Medium if the right to use the User Medium ends due to Termination of the Wallet Agreement or expiry of the validity of the User Medium or if irregular or conspicuous transactions give rise to a suspicion that the User Medium has been misused.
In particular, locked User Mediums can also be withdrawn by affiliated acceptance points on behalf of the Bank.
10.2. Consequences of User Medium Being Withdrawn Due to Expiry of Validity
If the User Medium is withdrawn as a consequence of its validity having expired, the legal consequences stipulated in Section 9.2 and Section 13 Sentence 3 shall apply mutatis mutandis with regard to the credit balance loaded at the time of the withdrawal.
10.3. Consequences of User Medium Being Withdrawn in Other Cases
In the other cases of withdrawal specified in Section 10.1, the legal consequences stipulated in Section 9.2 shall apply with regard to the credit balance loaded at the time of the withdrawal.
- 11. Loading the User Medium; Maximum Load Amount; Disposition Limit per Calendar Year
11.1. Loading Cash and Cashless Loading
The User can load the Wallet's credit balance at loading points and loading terminals in return for cash or by cashless payment on the Internet using loading mechanisms individually agreed with the Bank, in particular, for example, loading by means of direct debit from another bank account, wire transfer, or by means of a credit card payment - depending on the agreement - whereby, when reloading, the User must first check and confirm past transactions in accordance with Section 12.
11.2. Loading Processes
The User is entitled to load the credit in the Wallet solely using payment methods which debit a bank or credit card account which is held in the User's name. In particular, the User is only entitled to initiate a wire transfer or a direct debit or a credit card payment to the credit of the Wallet from a reference account in the User's name if the reference account debited with the wire transfer or direct debit or the credit card used is held in the User's name. The User shall not be entitled to load the Wallet using payments received from third parties, i.e., wire transfers or direct debits to the debit of a third party's account. If payments are nevertheless received from third parties, the User shall not have the right to have said payments paid out or credited to an account or any other right to draw thereon. The possibility of Transfers in accordance with Section 1.4 remains unaffected thereby.
11.3. Maximum Load Amount
The credit on the Wallet can be loaded up to a maximum amount of EUR 2,500 per annum. If the customer so wishes, higher load amounts can be used following separate agreement and the performance of additional identity checks.
- 12. Statement of Accounts
The User can review the current amount of credit available to him in the Wallet as well as past transactions online, using the access code provided by the Bank for the User's Wallet ("Online Administration" or "Online Statement"). The User shall be obligated to monitor the transactions and statements that are available for review online continuously – but at least once per week – and to raise any objections to individual transactions immediately but no later than six weeks after the Bank has posted the information onto the Online Administration of the Wallet. The Wallet can be re-loaded with credit in accordance with Section 11.1 only after the User's transactions that are available for review on the Online Statement have first been expressly confirmed by the User.
Deviating from Art. 248 §§ 3,7, and 8 of the Introductory Act to the German Civil Code [Einführungsgesetzes zum Bürgerlichen Gesetzbuch, "EGBGB"], the Bank shall notify the User of the information stipulated in Art. 248 §§ 7 and 8 Introductory Act to the German Civil Code once per month - in each case by the 15th day of the following month for the past month - such that the User can keep and render the information unaltered ("Monthly Notification"). The decision about the specific form of the Monthly Notification shall be made by the Bank, exercising equitable discretion and taking into account the modes of communication agreed with the User (see Section 12a).
12a. Notices to the User; Communication
Notifications, communications, and declarations relating to this Agreement can be effected by e-mail, telephone, fax, post, or via the Online Administration. Termination of this Agreement must be made in writing.
- 13. Redeemability of Electronic Money (§ 22p German Banking Act, "KWG")
The User can, at any time, redeem a credit loaded into the Wallet at the Bank in part or in full. Insofar as the User uses a Wallet Card as the User Medium, the User can also redeem the credit balance at an ATM showing the acceptance symbols embossed on the Wallet Card. The loaded credit balance shall, at the User's option, either be refunded in cash or into the reference account stipulated by the User. The Bank shall not charge the User any fees other than the costs that are absolutely necessary to carry out the redemption. Redemption shall not be possible if the credit balance loaded into the Wallet is less than the minimum redemption amount of EUR 2.50. The Bank can reserve the right to retain the credit balance available in the Wallet for 15 banking days in order to settle any payment transactions that have not yet been settled or charges owed to the Bank. If, after electronic money has been redeemed from the Wallet, the User is only left with a credit balance which is less than the minimum redemption amount, the User hereby already instructs the Bank to pay out the User the outstanding amount in addition (full redemption). Once the credit balance in the Wallet has been redeemed in full, the Bank reserves the right to lock the Wallet and the User Medium issued to the User.
- 14. Liability
14.1 Refunding Transaction Amounts in the Event of Unauthorized Transactions
In the event of an unauthorized transaction, the Bank shall have no claim against the User for a refund of its expenses. Rather, the Bank shall be obligated to immediately refund the User the transaction amount in full. If the transaction amount has been debited from the User's Wallet, the Bank shall refund the Wallet such that its credit balance is what it would have been without the unauthorized transaction. If unauthorized transactions are due to either the use of a lost, stolen, or otherwise missing User Medium or due to other misuse of the User Medium and the User has not kept the means of identification secure, Section 14.3 shall apply.
14.2 Refunding Transaction Amounts in the Event of Non-execution or Faulty Execution of an Authorized Transaction
(1) In the event that an authorized transaction is not executed or is faultily executed, the User can require the Bank to immediately refund the transaction amount in full to the extent that the transaction was not executed or was faultily executed. If the amount has been debited from the User's Wallet, the Bank shall refund the Wallet such that its balance is what it would have been without the non-executed or faultily executed transaction. The Bank shall not be liable under this clause if the Bank proves that the transaction amount was received by the payment service provider on time and in full.
(2) In addition to the clause above, the User can require the Bank to refund those fees and any interest to the extent that the User has been charged these fees or interest in connection with the non-execution or faulty execution of the authorized transaction or they have been debited from his Wallet.
(3) If the execution is faulty because the transaction amount was not received by the recipient's payment service provider until after expiry of the respectively applicable execution period (delay), the User's claims under the above clauses (2) and (3) are excluded. If the customer has suffered damages due to the delay, the Bank shall be liable in accordance with Section 14.2.
(4) The User shall not have claims against the Bank under the above clauses (1) to (3) to the extent that the order for the transaction was executed in accordance with an incorrect customer identifier stated by the User. In that case, the Bank shall, however, upon request by the User, do all it can to try and recover the transaction amount in return for the fee set out in the List of Prices and Limits (see Section 3.1).
(5) The Bank's liability shall be limited to EUR 12,500 for damages resulting from the non-execution or faulty execution of an authorized transaction and which are not already covered by clauses (1) to (4) of this Section 14.2. The limitation of liability in terms of total amount shall not apply
- in the event of intentional or gross negligence on the part of Bank,
- for risks that the Bank has expressly assumed, and
- to any interest losses that the User may have suffered.
14.3 Other Liabilities of the Bank
Unless otherwise stipulated in these Terms and Conditions, the Bank shall be liable - irrespective of the legal ground - only in cases of intentional or gross negligence. In the event of ordinary negligence, the Bank shall be liable only for damages arising from injury to life, body, or health. Moreover, the Bank's liability is limited in cases of ordinary negligence to the breach of material contractual obligations (cardinal obligations), wherein the liability is limited to damages for the foreseeable loss that typically occurs. The obligation to execute transactions, with which the User has instructed the Bank via the Wallet or by using the Wallet Card, as ordered shall particularly constitute a cardinal obligation for the Bank.
14.3 The User's Liability for Unauthorized Transactions
14.3.1 The User's Liability Up Until the Lock Notice
(1) The User's liability for damages resulting from fraudulent or unauthorized transactions due to the use of a lost, stolen, or otherwise missing User Medium prior to receipt of a Lock Notice shall be limited to a maximum amount of EUR 150 unless the User acted with fraudulent intent or contributed to the misuse of the User Medium through intentional or gross negligent behavior. This also applies if the damages were caused as a result of any other misuse of the User Medium, and the User did not keep the means of identification safe (see Section 4.1). In the event of intentional or gross negligence, the User shall be liable for the full extent of the damages. In particular, the User may be deemed to have acted with gross negligence if he fails to inform the Bank immediately (via a Lock Notice) in accordance with Section 4.2 or if he fails to keep the User Medium or the means of identification safe in order to protect them against misuse.
(2) If the Wallet or the Wallet Card is used in a country outside of Germany and the European Economic Area (EEA) ("Third Country") or in the currency of a country which is not in the EEA ("Payment in the Currency of a Third Country"), the User shall be responsible for all damages incurred due to an unauthorized transaction in accordance with clause 1 even if they are above the maximum amount of EUR 150 if the User negligently breached the obligations incumbent on him under these Terms and Conditions. If the Bank is partially responsible for the damages incurred due to a breach of its obligations, the Bank shall be liable for the damages incurred to the extent of the contributory negligence, for which it is responsible.
(3) The User shall not be liable for damages under clauses (1) and (2) if he was unable to inform the Bank immediately (via a Lock Notice) because the Bank failed to make sure that it was able to receive such a Lock Notice and the damages occurred as a result thereof. This shall not apply if the User acted with fraudulent intent.
14.3.2 The Account Holder's/User's Liability Following the Lock Notice
(1) As soon as the User has notified the Bank via a Lock Notice pursuant to Section 4.2, the User shall no longer be liable for any fraudulent transactions that are carried out with the User Medium after said point in time. This shall not apply if the User is acting or was acting with fraudulent intent.
(2) The Bank shall ensure that the User is able to notify the Bank via a Lock Notice at any time in accordance with Section 4.2 using suitable means.
14.4 Exclusion of Liability and Objections
(1) Claims against the Bank by the User of the Wallet arising from unauthorized or faulty transactions are excluded in accordance with the statutory provision under § 676b (2) German Civil Code if the User has not notified the Bank thereof at the latest 13 months after the date upon which the respective transaction amount was debited from the Wallet. The period shall only begin to run if the Bank has met its statutory obligations to provide information (see Art. 248 §§ 7, 10, and 14 of the Introductory Act to the German Civil Code); otherwise the date of notification shall be the relevant date for the commencement of the period. The User can assert claims against the Bank due to unauthorized or faultily executed transactions other than the claims stipulated in Sections 14.1 and 14.2 (1) - (4) even after the expiry of said period if the User was prevented from complying with the deadline without any fault on his part.
(2) Claims by the User against the Bank or claims by the Bank against the User are excluded if the circumstances giving rise to a claim
- are due to an unusual and unforeseeable event, beyond the control of the party by whom it is pleaded, the consequences of which could not have been avoided even if all due care had been exercised, or
- were caused by the Bank in an effort to comply with legal obligations.
- 15. International Availability
Internationally, the Wallet is only offered in the following countries: Austria, Belgium, Bulgaria, Cyprus, Denmark, Germany, Estonia, Finland, France, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Sweden, Switzerland, Slovakia, Slovenia, Spain, the Czech Republic, the Netherlands, and the United Kingdom.
- 16. Amendments and Additions to the Terms and Conditions of the Agreement
The User shall be notified in writing or by e-mail to the e-mail address stated by the User during the registration process of any amendments or additions to these Terms and Conditions of the Agreement no later than two (2) months before they take effect. The User shall be deemed to have given his consent to the amendments and additions if the User has not notified the Bank of his rejection before the date suggested for the amendment or addition to take effect. The Bank shall expressly draw the User's attention to this consequence in the notification. The relevant date for the timeliness of the objection shall be the date the objection is sent. In the event of any amendments or additions to the Terms and Conditions of the Agreement, the User shall also be entitled to terminate the Wallet Agreement without notice before the date suggested for the amendment or addition to take effect.
- 17. Applicable Law; Place of Jurisdiction
17.1. Application of German Law
This business relationship shall be governed by German law.
17.2 Place of Jurisdiction
If the User is a businessperson, a legal entity under public law, or a special body or fund under public law, the Bank can sue the User at his/its general place of jurisdiction and can only be sued at said place of jurisdiction.
- 18. Bank Disclosure
I hereby authorize my account-holding bank or my credit card company to provide the Bank and/or the bank instructed by the Bank with the usual bank information necessary in connection with the issue and administration of the User Medium.