This Agreement outlines the terms and conditions (the “T&C”) for the Banxis Account and the related Services (as defined below). It is a contract that is entered between Banxis Limited (“ Banxis”, “we”, “us”), acting as a distributor of Sureswipe E.M.I. PLC which is an EMI regulated by CBC and operating under license number 115.1.3 26/2018 (“Sureswipe” and “EMI”) and you (the “Client”, “ you”, “your”). It applies to Banxis Account accounts of Corporate organisations’ which exist within the EEA Countries.

These terms and conditions are valid and bound by both parties throughout the duration of the business relation, until terminated in accordance with the terms set out herein.

Please read this Agreement carefully prior to accepting it and before you start using the Services. The Agreement and the relevant documents tell you who we are, how we provide the Services to you, how this Agreement can be changed or terminated, what to do if there is a problem and other important information.

If you do not accept these Terms and Conditions you should abstain from having a Banxis Account.

Should you require any further information or assistance, please contact us at support@banxis.com.

This Agreement is concluded in English language and all communications between you and us shall be in English only. By accepting this Agreement, you confirm that you understand this language, do not have any objections for this language being used as a language of contractual relations between you and us and agree to be bound by this Agreement in the language that it is drafted in. We may also elect to use an alternative language to effectively communicate locally with you. Use of such alternative language for localization purposes should not be deemed as official for contractual purposes, unless otherwise provided in the applicable legislation. For contract purposes the official language is English and where any discrepancy exists between the English and the alternative language version, the English version will supersede.
By accepting this Agreement, you agree that we will contact you by writing at the email address(es) you provided when agreeing to this Agreement or by using any other contact details you have provided to us or have used in communications with us. We may also provide notices or other information to you from time to time through our Website (including the posting of information accessible to you after your Account login)

“Account” or “Banxis Account” is the Business web-based e-money payments account you have opened with us (acting in our capacity mentioned below) in your name which you will be using in accordance with the terms and conditions of this Agreement.

“Agreement” are the T&Cs included in this agreement, including all subsequent amendments and any additional documents that accompany, this Agreement including the Privacy Policy and Cookies Policy of Banxis to which you should adhere to.

“Affiliates” means all third parties and/or service providers and/or external partners of Banxis.

“Available balance” means the amount of E-money held in your Banxis Account.

“Banxis Platform” is a SaaS application through which you may access the Services.

“Business” or “Corporate” means a legal entity, duly represented by a representative.

“Business Day” means Monday to Friday from 9:00 – 17:00 Easter European Time – UTC+2, excluding bank and public holidays in Cyprus.

“CBC” means Central Bank of Cyprus which is the current regulator of Banxis.

“Client Account” a segregated bank account to protect client funds which keeps clients' funds completely separate from the Company’s operational funds.

“EEA” or “European Economic Area” are the European Union (EU) member states as well as Iceland, Norway and Lichtenstein.

“EMD” means electronic money distributor.

“EMI” means electronic money institution.

“E-money” or “Electronic Money” means electronically, including magnetically, stored monetary value as represented by a claim on the issuer, which is issued on receipt of funds for the purpose of making payment transactions and which is accepted by a natural or legal person other than the issuer of the electronic money. The electronic money shall not constitute a bank deposit and shall bear no interest. For the purposes of this Agreement, any value stored in your Banxis Account is electronic money and the issuer is Sureswipe. The terms “e-money”, “money” and “funds” are used interchangeable in this Agreement.

“IBAN” is the International Bank Account Number, a standard international numbering system that identifies your account.

“Registered User” a Business or corporate that has been successfully onboarded and who has been registered to use the Website, and its Services.

“Safeguarding” the obligation to identify and keep client funds segregated in a Client Account and protected from all other funds that the Company may receive for the purpose of the provision of a payment service.

“Services” means the e-money services (apart from issuance of E-money) and the related payment services provided by us, in our capacity as an EMD of Sureswipe, according to the terms and provisions of this Agreement, including opening and closing of an Account, viewing your e-statements, checking the Available Balance and Transaction history as well as executing payments, as these are accessed through the Banxis platform application.

“Third Party” any other natural or legal person other than the parties under this Agreement.

“Transaction” is an action performed or permitted by you which results to money entering or leaving your Account.

“Visitor” an internet user that visits our Website.

“Website” means our website https://banxis.com/ .

Banxis is a registered EMD with CBC to distribute and redeem Electronic Money on behalf of Sureswipe.

Therefore, by accepting the T&C of Banxis, you are implicitly accepting the T&C of SURESWIPE EMI PLC. You can find more information with respect to the T&C of SURESWIPE EMI PLC at the following link: https://revsto.com/wp-content/uploads/Sureswipe-BUSINESS-TnCs.pdf

For greater clarity, any reference to Banxis shall include the registered EMD, as defined below:

Banxis Ltd
58 Agios Athanasios Avenue
El Greco Building, 2nd Floor
Office 202, 4102
Limassol, Cyprus

You can agree to this Agreement and open an Banxis Account if you are registered within the EEA and after having completed the onboarding process in place. As a legal entity, you warrant that the person that accepts this Agreement on your behalf is an authorized representative of yours who has been granted full authority to act on your behalf in relation to the Services (and as this may be modified from time to time), and any actions taken by this person including but not limited to purchase of Services, modification of the service plan, termination, or transfer of the service plan, would be considered binding and final.

Even in the absence of any notification to us, this Agreement is also applicable to any other person (legal or natural) you grant permission to use your Account. In any case, you remain liable against us for any action or omission performed by these persons.

It is your responsibility and the responsibility of your agents, representatives, officers to ensure that the products and services are not accessible to persons under the age of 18 (underage persons or minors).

Your Banxis Account is an Electronic Money payments account in your name, that holds E-money. The primary use of the Banxis Account is for your Businesses’ operational purposes and should not be used for personal purposes. We are offering only payment accounts in Euro.

With your Banxis Account you can proceed with the following functions:

• Send and receive funds to and from Payment Service Users.
• Redeem money from your Account by sending it to your bank account.
• Send and receive payments via a dedicated IBAN for your business needs.

You should never allow anyone to operate your Banxis Account on your behalf if they are not your authorized representatives. All activities carried out in your Banxis Account are deemed as activities carried out by you and you represent and warrant that you are the sole beneficiary of your Banxis Account.

You may only open one Banxis Account. Multiple Banxis Accounts may be allowed at EMI’s sole discretion.

Our provided Services are displayed on our Website. Additional (new) or amended features or services may be provided at any time. You may be notified of any such event, but it remains your responsibility to regularly check the Website for such additions or amendments.

You can maintain balances in your Banxis Account however you will not receive any interest on the money in your account. Banxis Account is an Electronic Money account and it is not a bank account. Electronic Money accounts are not allowed by European laws to receive any paying interest. Electronic Money is not a deposit or investment under Cyprus laws and it is therefore not protected by any deposit protection scheme or the investor compensation fund scheme that is provided for in the Republic of Cyprus.

Every Transaction executed, will appear in your Transaction history together with all applicable fees and charges.

When requesting to open a Banxis Account through the Banxis Platform, you will need to (a) accept all required Terms and Conditions (other to these T&Cs) and (b) provide us with all necessary information and documents and (c) provide us with an e-mail to which you are the legitimate holder, and which is validated via a one-time password (OTP).

To comply with the requirements of the applicable laws and/or legislations on the Prevention of Money Laundering and Terrorist Financing and/or any other laws, regulations, directives and/or circulars issued by the CBC from time to time, it may be necessary to obtain from you, and retain, evidence of your personal identity (or directors or partners of your business and/or your ultimate beneficial owners) in our records from time to time. If satisfactory evidence is not promptly provided to us and/οr Sureswipe, we cannot accept you and/or continue having you as our Client and no Services will be or continue to be provided to you.

To assist us with meeting our obligations, we may carry out an electronic verification check via third party providers in order to verify your or your shareholders’ or officers’ or partners’, identity. If such searches are carried out, we may keep records of the contents and results of such searches in accordance with all current and applicable laws.

From time to time, we might make available to you other methods or procedures for you to become of verified status in order to be able to receive our Services through a Banxis Account. Such methods will be provided on the Website or sent to you by email.

You agree to comply with any further request from us for additional information for this purpose and that you will provide this information promptly.

It is important to keep your details up to date and let us know immediately if any information you have given to us has changed. This is necessary to avoid possible disruption to your Account services. We cannot be responsible for any financial loss arising out of your failure to do so. We will ask you from time to time to confirm the accuracy of your information and in some cases ask you to provide additional supporting documents.

You must take appropriate steps to protect your Account from being misused. You must take reasonable steps to secure your devices, items, IDs, passwords required to access your Banxis Account. We advise that you change your password regularly and ensure that it is not reused in other online accounts.

In order to ensure the safety of your Account and of the Services provided to you, you agree to do the following:

1. Try to conceal your password in order to make it hard for others to understand.
2. Try to avoid using as a password information that can be known to a number of people, like your birthday, ID number, telephone number, or a sequence of letters and number that can easily be guessed.
3. Try not to allow any prying eyes from seeing you entering your login details.
4. Refrain from using any functionality, either device or software specific, that allows you to store (“remember”) your login details as they may be compromised.
5. Ensure that you do not remain logged in your account after you have finished accessing the Services.
6. Do not allow other people to use your Banxis Account.
7. Do not share your security credentials with anyone else.

In some cases, we and/or Sureswipe may ask you to authenticate an instruction related to your Account.

This is necessary to ensure that it’s you giving us the instruction. This could include your email and password to successfully log into your Account to provide us with your instruction.

If your security credentials are stolen, lost, used without authorization or compromised, you should immediately contact support@banxis.com and change your password without delay.

We do not accept responsibility for any interference or damage to your own computer system which arises in connection with your accessing of our Website and/or the Banxis Platform. You must take your own precautions to ensure that you are not exposed to the risk of viruses or other form of interference which may damage your own computer system.

Sureswipe does not lend your money to other individuals or businesses. When Sureswipe receives money from you through the Banxis Account, Sureswipe issues the equivalent value of e-money and places it in your account. The equivalent money received from you are deposited into a pooled safeguarding Client Account with a bank in the European Union, separated from Sureswipe’s and/or Banxis own money. This means that, in case of insolvency, your e-money will not be used against payment of Sureswipe’s and/or Banxis’ liabilities. Sureswipe will exercise all due skill, care and diligence in the selection, appointment, and periodic review of the institution where the money is deposited. It should be noted, that segregated account(s) will be established, maintained, and operated according to the applicable rules and regulations. Sureswipe will give instructions to the banking institution(s) regarding the transfer and movement(s) of the E-money.

You can view your Banxis Account statement by logging into your Banxis Account. All your Transactions (money received, redeems or sent) together with all applicable fees and charges will appear in the transaction history section of your Banxis Account. You can access the Transaction history when you log in to your Banxis Account and select the transactions tab/button.

The Account information is available for 5 years after you close your Account with us.

You need to check your Banxis Account regularly and let us know immediately if you see a Transaction that was not authorized by you or a payment that you think it might be made incorrectly. You can do this no later than 13 months from the date of the Transaction otherwise, you are not entitled to any correction of errors or refund of funds. By this Agreement you acknowledge and agree to review your Transactions through your Banxis Account, and the relevant Transaction history section and you understand and accept that no period statements will be sent to you either physical or by e-mail.

The balance in your Account should always be positive or zero. If your Banxis Account goes negative as a result of a reversal of a Transaction, deduction of fees or any other action, Sureswipe may ask you to repay the negative balance within seven (7) Business Days. In case you fail to do so, we will close your Banxis Account and terminate this Agreement.

You can add money to you Banxis Account (top-up) by making a bank transfer. If you add money to your Banxis Account, Sureswipe will issue the equivalent amount of e-money in Euro. The e-money will be stored in your Account, and you can use it for the available Transactions. For now, Sureswipe can only issue electronic money in Euro.

Sureswipe and/or us may put limitation on the topping-up of your Banxis Account, in order to comply with the applicable anti-money laundering laws and regulations, or at Sureswipe’s and/or our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation including mainly the anti-money laundering legislation. Any such limits set can be viewed in your Account details.

Money in your Banxis Account can be received as per the following methods:

• Through the Banxis Account of the payer to your Banxis Account;
• Through verified bank account transfers (internet banking, phone banking etc).

The receipt of E-Money is only concluded after you accept it, at which point Sureswipe clears the balance in your Banxis Account and makes it available for other Transactions. Notifications that you are the recipient of E-Money do not constitute a confirmation that the balance has been cleared and has become available. You acknowledge and agree that a Transaction is completed and received by you upon acceptance, even if it becomes subject to a reversal for reasons stated in this Agreement.

Sureswipe and/or Banxis may put limitations on the receipt of money in your Banxis Account, in order to comply with the applicable anti-money laundering laws and regulations, or at Sureswipe’s and/or our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation, including mainly the anti-money laundering legislation. Any such limits set can be viewed in your Account details.

You can redeem money from your Banxis Account by transferring the relevant funds directly to a bank account in your name and convert them into cash money. Fees apply to withdrawals. Fees are disclosed in advance each time you initiate a withdrawal.

When you give us instruction to transfer any amount from your Banxis Account balance, you agree that you authorize us to transfer the Electronic Money to the bank account in your name by the end of the next Business Day. Sureswipe is only offering Accounts in Euro and does not offer currency conversion for now.

In certain situations, Sureswipe and/or us may delay or suspend a redemption of Electronic Money to comply with the anti-money laundering and other legal obligations, to protect you, other users and itself and/or us from loss or if we need to confirm that you are the one who has authorized the withdrawal.

Once you submit a payment order, we consider that you have given consent and authorized us to execute the Transaction, to debit your Banxis Account and to credit the account you are sending money to. You have the option to send money in Euro.

You need to have enough available funds in your Account to cover the amount of any Transaction you make plus any additional fees. We reserve the right not to conclude a Transaction until it receives cleared funds.

When making a transfer, make sure that the details of the beneficiary/account you want to pay are correct. If they are not, the payment may be delayed, or you may lose your money if you send it to the wrong account.

Neither we nor Sureswipe are responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information, you may ask us to assist you in recovering the money, but we cannot guarantee you that these efforts will be successful.

Sureswipe and/or we may impose a limit on sending money from your Banxis Account, either by requirement of the anti-money laundering laws and regulations, or at Sureswipe’s and/or our reasonable discretion (for example, without limitation, as a means to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation including mainly the anti-money laundering legislation. Any such limits set can be viewed in your Banxis Account details.

Payments from your Banxis Account may be initiated by a third-party service provider that facilitates open banking-enabled payments between bank accounts with secure authorization. By submitting a payment order through your Banxis Account, you acknowledge and consent to this third-party service provider initiating the payment on your behalf. The involvement of the third-party service provider does not alter your obligations under these T&Cs. You remain responsible for ensuring the accuracy of all payment details and for maintaining sufficient funds in your Banxis Account to cover the transaction amount and any applicable fees.

When you want to make a payment in another currency other than EUR, we will let you know about the applicable exchange rate. The exchange rate offered for a payment, is only valid for the specific transaction at the time the payment is processed. Where a currency conversion is offered at the point of sale by the merchant, not by Revsto, and you choose to authorise the payment transaction on the basis of the merchant's exchange rate and charges, we have no liability to you for that currency conversion.

We charge fees for our Services. Our pricing and fees for the Services will be provided to you separately and shall inform an integral part of these T&Cs. We are not responsible to determine any applicable taxes relating to your Transaction, nor we are responsible to collect report and remit any taxes arising from any Transaction. You agree that it is your sole responsibility to determine the applicable taxes relating to a Transaction and further to collect, report and remit tax balances arising from any Transaction to the relevant tax authority. If a Transaction or payment requires you to pay a fee, we will disclose that fee to you at the time of the payment instruction.

Fees become due and payable upon the use of the Services by you. We have the right to receive all due and payable amounts towards you by directly debiting and subsequently reducing the balance of your Account without any specific notification. With the acceptance of this Agreement, you explicitly and unconditionally mandate us for the receipt and/or compensate these amounts with the equivalent debiting of your BANXIS Account. Any amount that has become due and payable and has not been paid off due to insufficient balance, shall be withheld in priority against any other debit, once and to the extent the Available Balance is sufficient or compensated, if applicable.

We will not process your Transaction until we have received the fees from you. You cannot deduct any amounts from our fees.

We may make a charge for additional services we provide outside this Agreement. We will notify you if there are fees applicable when you ask for the specific service.

We are not responsible for the fees associated with a bank or another payment service provider to process payments from you to us. Any fees charged by third parties will be deducted by Sureswipe before crediting the remaining balance to you.

We agree to pay all applicable sales, value added (VAT) and any other taxes relevant to the Services or to any payments made to us where such relevant taxes apply. No deduction or withholding should be made to the aforesaid payments unless otherwise required by law. In such case the fee sum that the withholding party must pay, will be adjusted to include any such deduction or withholding, ensuring that the resulting amount we receive is equal to what the amount would have been, should it not have been for such a deduction or withholding being required. Unpaid balances that are overdue (where overdue means that their “pay by” date has lapsed, and any additional remedial period has also lapsed), will accrue a late charge interest of 2% per month or the maximum allowed under the law, where the lesser of the two will apply. In the event that we cannot collect the fees due, we shall have the right to terminate the Agreement in accordance with these terms.

A payment can be cancelled any time before execution. You may not cancel or revoke a payment instruction that has already been received by us, nor can you withdraw your consent to execute a Transaction.

You can only cancel a payment instruction in the case of a recurring payment (where available) and where the cancellation instruction is given at least by the end of the Business Day preceding the day the next recurring payment is due.

If you give your payment instruction after the cut-off time (5.00 pm Easter European Time) the payment will be executed the next Business Day.

You may have the option to give us instructions to make a payment on a later date. In this case, the money will leave your Account on that day.

We try to process your payments correctly and timely, but sometimes things go wrong, and a payment might be delayed, be of incorrect amount or not received by the person you wanted to pay.

If a recipient has not received the money, you have sent them, we will not be responsible if we have processed the payment correctly, but you gave us the wrong details.

If the payment was not received or delayed and the payer is in the EEA, let us know by sending an email to support@banxis.com no later than 13 months after the date on which amount was taken from your Account.

If the money was not received into the account, due to a reason we consider is our and/or Sureswipe’s mistake, then Sureswipe and/or we will refund the payment back into your Account including any charges paid as a result of our mistake. If possible, we will restore your account to the state in which it would have been if the transaction did not take place.

We may refuse to execute any type of Transaction in the following cases:

1. You do not have enough Available Balance.
2. You do not provide us with all mandatory information requested in a payment instruction.
3. We have a reason to believe that the activity is in breach of this Agreement.
4. If Sureswipe and/or we have a legal or regulatory obligation that prevents us from making the payment or if Sureswipe and/or we are required to perform further checks.
5. If a third party prevents us from making the payment (for example card scheme does not allow a payment or a withdrawal).
6. If you owe money to Sureswipe and/or us and we need to repay the amount owed by you.
7. If your Account has specific restrictions.
8. If your Account is blocked for any other reason.

If you have been declared bankrupt, if a bankruptcy order was made against you or if you have entered an individual voluntary arrangement with your creditors, and the applicable legislation in this case forbids us from making any payments to you or instructed by you.

Provided it is not prohibited by any applicable law, Sureswipe and/or us may be required to provide information as to the reason of refusal and any remedial action you may take to resolve the refusal issue if possible.

You agree that Sureswipe and/or us may also suspend the execution of a Transaction, which based on available information at the time, can be reasonably deemed as above acceptable risk levels, and you will be notified for such action. Should the excessive risk be eliminated, the suspension will be lifted allowing the execution of the Transaction.

In the case of a refund of a payment, you agree to bear the fees charged for the processing of the initial payment.

We will not refund the payment if:

1. The personalized security credentials, are lost, stolen or misappropriated. For unauthorized payments where we believe you should have been aware of the loss, theft or unauthorized use, you will be liable for the first 50 EUR. We will not hold you liable for the first 50 EUR if the unauthorized payment was caused either by us, Sureswipe or a third party carrying out activities on our behalf. Your liability for the first 50 EUR also does not apply to any unauthorized transactions made after you have notified us that your BANXIS Account may have been compromised.
2. if we believe you have acted fraudulently,
3. if you do not quickly notify us for the loss, stealing or unauthorized use of your security credentials or access to your BANXIS Account,
4. if the payment transaction was unauthorized but you have acted with intent, gross negligence or without due diligence,
5. if you don’t let us know about the unauthorized or incorrectly completed Transaction within thirteen (13) months from the date of the payment transaction.

(For more information, please read the Refund Policy)

Sureswipe and/ or we will try to rectify all errors that may originate from our system, except if you tried to execute the erroneous Transaction at a time that it was known to users that the system was not properly functioning, either due to maintenance or unresolved technical issues.

If you have a reason to believe that someone has stolen money from your Account, you need to let us know as soon as possible and no later within 13 months from the date the money was taken from your Account. Sureswipe and/or we will pay the money back into your Account if any of the following applies:

1. There was no way to know that your security credentials were at risk of being misused.
2. The payment happened because of our and/or Sureswipe’s mistake.
3. The payment was made after you told us that someone knew your security credentials or if we didn’t give you a way to tell us about this.
4. Any charges you had to pay because of the unauthorized payment will be paid back to you.

You will not be entitled to any refund if you have acted fraudulently or you failed to keep your security credentials of Banxis Account safe.

Unless otherwise agreed in writing between us, you can terminate this Agreement and close your BANXIS Merchant Account at any time and for any reason by giving us a written notice. Please ensure that any available balances on your Banxis Account are withdrawn prior the closure request of your Banxis Account. In case you maintain a positive balance in your Banxis Account, you will be requested to provide an active bank account of which you are the beneficiary, to which the equivalent funds will be transferred net of any fees or other charges incurred by Sureswipe. Banxis support team can assist you with the Account closing process and can provide you additional information if needed by contacting them at support support@banxis.com.

You must not close your Banxis Account to avoid an investigation. If you attempt to do that, Sureswipe and/or we may hold your money until the investigation is fully completed in order to protect our interests and meet our legal obligations.

In case you close your Banxis Account, you agree the following:

1. You will not be able to avail yourself with Banxis Services and any rights granted to you for the use of the Services and as per this Agreement shall cease immediately.
2. To forfeit any non-monetary benefits such as bonuses, coupons and/or vouchers (if applicable).
3. Any pending Transactions will be cancelled and any instructions for recurring payments (if available) will be withdrawn.
4. The balance in your Account, if any, will be fully withdrawn/redeemed at the time of the account closing.
5. This Agreement should be terminated, except to the extent and for so long as we require to deal with the closure of your Banxis Account and to comply with applicable laws and regulations.
6. After your Banxis Account is closed you will remain liable for any outstanding obligations related to your Account prior to closure.
7. You shall stop to use any material, digital or electronic right that has been granted to you for the facilitation of Transactions, and you are obliged to return it to us.
8. You shall stop the use of any of our trademarks or distinctive signs, to the extent this was allowed to you under this Agreement.
9. Sureswipe has the right to hold the balance in your account for a period of 180 calendar days from the day you close your account, in order to protect ourselves and any third party against any potential claims of reversals, fines, penalties and other liabilities that stem from the use of your account while it was active. After this time, you will be able to withdraw any undisputed funds we are holding.

We may terminate this Agreement, suspend and/or block your Banxis Account and cease our Services under this Agreement at any time:

1. If we have a good reason to believe that you might be acting fraudulently.
2. If we and/or Sureswipe believe that you have provided false or misleading information.
3. If this is required to meet our legal obligations.
4. If you did not provide us with the information, we need to meet our legal obligations or if you have provided us with incorrect information.
5. If we and/or Sureswipe are unable to verify your identity or other information we have required.
6. If you have acted in breach of this Agreement in a serious way or in a way that we are entitled to close your Account.
7. If we have a reason to believe that you use the Banxis Platform in a way that might be harmful to our systems.
8. If we and/or Sureswipe have a good reason to believe that, if we continue to offer you the Services this may harm our reputation.
9. If you refuse to repay money you owe us within a reasonable period.
10. If we and/or Sureswipe must do so to meet instructions from governmental authorities within their legal competencies.
11. If we or you have been declared insolvent or bankrupt, have filed for voluntary bankruptcy judgement or have consented to the filing of a petition of bankruptcy against us or you, have admitted to be in default of your debts, have made a general assignment for the benefit of creditors, seek bankruptcy protection or have been granted bankruptcy protection to reorganize our/your operations, have had a receiver or trustee appointed for the proper disposition, liquidation of assets.
12. We and/or Sureswipe suspects that your Account has been accessed without your authorization or if we are concerned about the security of your Account.
13. If we have reasonable grounds to believe you are carrying out a prohibited or illegal activity.
14. Your account becomes dormant:
    • the account has not been the object of any transaction (except for debiting of fees and commissions of all kinds) and you did not manifest or contact us in any form whatsoever for twelve (12) consecutive months.
    • the customer is deceased and at the end of 12 (twelve) consecutive months from the date of death none of his heirs has informed us of his wish to assert his rights on the assets and deposits registered on the accounts of the deceased.

In order for your account to no longer be identified as dormant, we must witness a manifestation on your part:

• you just need to log in to your account with your password or perform an operation on one of your accounts;
• if you are the heir of a deceased customer, simply contact us by e-mail, attaching the supporting documents relating to your status as heir (death certificate of the holder, certificate of inheritance, etc.).

We will let you know when we block your Account including the reasons for this if the law allows us to do so. We will unblock your Account as soon as the reasons for the account blocking do not exist.

*If Sureswipe holds Electronic Money for you for more than (12) consecutive months without any activity on the Account, we shall use reasonable endeavours to contact you to redeem the Electronic Money and return the corresponding funds to you. If we are unable to contact you, we may redeem the Electronic Money and send the corresponding funds, less any of our costs incurred, to the last known bank account we have on file for you.

For any alert to indicating possible suspicious activity or transactions or possible fraud within the Account, Sureswipe may hold the outstanding balance until an investigation is concluded and as instructed by a regulator or authorised body.

If we close your account due to a breach of our T&Cs, we will contact you to request details of your bank account to return any balance remaining within your Account. If you do not provide bank account details for the remaining balance to be returned, after an eight-week period the funds minus applicable charges will be returned where possible to the originator of those initial transactions.

The Services must not be used, directly or indirectly, for the following prohibited uses:

1. Breach this user Agreement, the Banxis Privacy Policy or any other policies.
2. Violate any law, regulation, directive, statute or contract in relation to the Services, including without limitation, anti-money laundering laws and regulations, consumer and personal data protection laws and regulations, e-money and payment services laws and regulations.
3. Use tools and mechanisms to conceal your online identity and location (use of proxy and other anonymizing technics).
4. Cause and maintain an Account with a negative balance.
5. Engage in activities that may present Sureswipe and/or us with increased risk or fraud or credit exposure or that lead us to handling a disproportionate number of claims settled in favor of the claimant.
6. Use the Services in a manner that results in complaints, disputes, claims, reversals, fees, fines, penalties and other liability to us, Sureswipe, another Client or a third party.
7. Use the Banxis Services for illegal purposes.
8. Intentionally or unintentionally facilitate any malicious computer programming routines that may cause damage, harmfully interfere with, clandestinely capture or steal any system, data or information.
9. Intentionally or unintentionally use any automatic device process or manual process to monitor or copy the Website without out prior written permission.
10. Use any device and/or software that intentionally or unintentionally interfered with the proper operation of the Banxis Platform, and/or the Website.
11. Infringe our, or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy.
12. Provide false, inaccurate or misleading information.
13. Send or receive what we reasonably believe to be potentially fraudulent or unauthorized funds.
14. Refuse to cooperate in an investigation or provide confirmation of your identity, or any other required information.
15. Control an Account that is linked to another Account that has engaged in any of these restricted activities.
16. Use the Services in a manner that is an abuse of a card system or a violation of card association or network rules.
17. Use the Services in a way that we reasonably believe that might harm the provision of the Services.
18. Control or use an Account that is not yours.
19. Give your or security credentials to any other person.
20. Allow anyone else to access or use your Account or the Banxis Platform.
21. Harass and/or threaten our employees, agents, or other users.

Regardless of any specific provisions agreed upon in writing, if you utilize the Services for the aforementioned restricted purposes or in a manner that leads to complaints, disputes, claims, chargebacks, reversals, fees, fines, penalties, or any other liabilities to us, Sureswipe, another user, or a third party, you may be held responsible for such activities and their consequences. In such instances, you agree to indemnify us, Sureswipe, a user, or a third party for any and all such liabilities. Additionally, you authorize Sureswipe and/or us to settle any owed amounts resulting from such liabilities using your available balance. If your balance is insufficient to cover the required amount, you consent to Sureswipe utilizing proceeds from transactions to cover the liability. If these proceeds are insufficient, the claim holder may seek recovery through other legal avenues.

In the event of disputed amounts arising from a claim or payment reversal, we and/or Sureswipe will reserve the necessary funds in your Account to cover the entire disputed amount. This reserve will not impact the usability of your Account if you maintain a residual balance exceeding the reserved disputed amount. The reserve is specifically limited to the disputed balance. Should the dispute be resolved on your favor, we will restore the full access to your Account and remove the block from the formerly disputed amount. To the contrary, if the dispute is resolved in favor of the opposing party, the blocked amount will remove the required amount from your Account in settlement of the dispute resolution decision.

The Website and/or Banxis Platform is available online and access by be established by usage of most available browsers.

Each party shall use the Confidential Information solely in the performance of its obligations under this agreement, treat it as confidential, and not disclose it, except as expressly permitted by this Agreement and to its authorised employees, officers, directors, legal counsels and accountants (provided that they are bound by a duty of confidentiality no less restrictive than the duty imposed by this Section). Without limiting the foregoing, the receiving party shall treat the other party’s Confidential Information with at least the same degree of care it uses to prevent the disclosure of its own Confidential Information, but in no event less than reasonable care. The receiving party shall promptly notify the disclosing party of any actual or suspected misuse or unauthorized disclosure of the Confidential Information. Upon expiration or termination of this Agreement, each party shall destroy all electronic copies, and return all tangible copies, of any Confidential Information of the other party unless otherwise required by any applicable laws and regulations.

Confidential Information shall not include information that the receiving party can prove: (a) was generally available to the public at the time it received the information from the disclosing party or later becomes generally available to the public through no fault of the receiving party, (b) was known to it, without restriction, at the time of disclosure by the disclosing party, (c) is disclosed with the prior written approval of the disclosing party, (d) was independently developed by it without any use of the Confidential Information of the disclosing party, (e) becomes known to it, without restriction, from a source other than the disclosing party without a duty of confidentiality to the disclosing party, or (f) is disclosed in response to an order or requirement of a court, administrative agency, or other governmental body or pursuant to the rules of any applicable securities market or exchange; provided, however, that (i) the receiving party must provide prompt advance notice of the proposed disclosure to the disclosing party, and (ii) any Confidential Information so disclosed shall otherwise remain subject to the provisions of this Section. All source code and the terms of this Agreement will be considered Confidential Information.

Each party acknowledges that breach of this Section by it would result in irreparable harm to the other party, for which money damages would be an insufficient remedy, and therefore that the other party will be entitled to seek injunctive relief to enforce the provisions of this Section.

Banxis endeavours consistently to offer its Services to you. However, Banxis is not liable for any interruptions or outages of the Internet connection provided by third parties.

Visitors and registered users of the Banxis Platform shall not be entitled to any compensation for interruptions, outages, or other deficiencies related to the Platform due to planned or unscheduled maintenance work and/or internet disruptions due to issues resulting on behalf of third parties. We may not be able to deliver the Services to certain regions or countries for various reasons, including any internet access limitations and restrictions from governments. Banxis shall not have any liability to you for any such action.

Visitors and registered users shall notify Banxis for any failures, outages, and other deficiencies regarding the Website and/or Platform without delay after their occurrence and describe them and indicate whether they occurred during the use of the Platform, as well as any other relevant information.

Every effort is made to provide useful, accurate and complete information to this Website and/or Platform. However, Banxis cannot guarantee that there are or there will not be any errors.

Neither Banxis nor its employees, contractors, associates make any warranty, expressed, implies or statutory including but not limited to any warranty that third party rights or titles have not been infringed or merchantability or fitness for any particular purpose.

No warranty of any sort is made with respect to the content of third party websites that have links for this Website and/or Platform and all liability of every sort is expressly disclaimed.

Banxis is not and cannot be held liable in any circumstance for special, indirect, or consequential damages or any damages whatsoever resulting from loss of use, data, revenue of profits whether in an action of contract, negligence or otherwise arising in connection with any use of the information and/or services available on the Website and/or Platform.

This Website and/or Banxis Platform and documents posted in it, may contain hypertext links or pointed to information created and maintained by other public and/or private organisations. Banxis does not guarantee the accuracy, relevance, usefulness, timeliness, or completeness of any linked information.

The inclusion of links or pointers to other websites is not intended to (a) assign importance to those websites and the information contained in them, (b) endorse, recommend, or favour any views expressed or commercial products or services offered on those links or websites or the organisation sponsoring such websites by trade name, trademark, manufacture, or anything of similar nature.

Reference in this Website and/or Platform to any specific commercial products, processes or services or use of any trade, firm or corporation name is for the information and convenience of the Website and/or Platform’s Visitors and/or Registered Users and does not constitute endorsement, recommendation or favouring by Banxis, unless expressly provided otherwise.

If you are not happy with the provision of our services, please contact us at support@banxis.com and a customer representative will contact you for the matter. We take seriously the complaints of our customers. If we receive a complaint from you, we will try to solve it within 15 business days. If the problem cannot be solved within 15 business days, we will send you a reply stating the reasons of the delay including the date of by which we will give you the final answer. In any case, the final reply will not exceed the 35 business days.

If you are not satisfied with our final reply, or would like to make a complaint regarding the provision of our services directly to Sureswipe E.M.I PLC (trading as Revsto), the licensed e-money issuer, please email complaints@revsto.com. Additionally, you may refer to the following Alternative Dispute Resolution Bodies:

• Financial Ombudsman of the Republic of Cyprus: Address: 13 Lord Byron Avenue, 1096
  Nicosia
  Phone: +357 22848900,
  Facsimile (Fax): +357 22660584, +357 22660118,
  Website: www.financialombudsman.gov.cy,
  Financial Ombudsman: fin.ombudsman@financialombudsman.gov.cy
  Complaints: complaints@financialombudsman.gov.cy

• Central Bank of Cyprus:
  Address: 80 Kennedy Avenue, 1076 Nicosia
  Phone: +357 22 71 41 00
  Facsimile (Fax): +357 22 71 49 59
  Website: www.centralbank.cy

• Cyprus Consumer Center for Alternative Dispute Resolution:
  Address: 16 Kyriakou Matsi, Eagle House, 8th Floor, Agioi Omologites, 1082 Nicosia
  Phone: +357 22519741
  Facsimile (Fax): +357 22318214
  Email: secretariat@adrcyprus.com
  Website: www.adrcyprus.com

Except if something more specific has been agreed upon in writing you shall indemnify, defend and hold harmless us and our employees, representatives, agents, affiliates, directors, officers, distributors and franchisees from and against any and all claims, suits, actions, liabilities or other proceedings brought against them that are based on a breach of your representations or warranties or any claim that you infringe the Intellectual Property Rights of any third party. You shall pay any and all costs, damages, and expenses, including, without limitation, reasonable attorneys’ fees and costs awarded against or otherwise incurred by you in connection with or arising from any such claim, suit, action, or proceeding.

You further agree to indemnify and hold us, our employees, affiliates, associated and any persons who are authorised to act on our behalf harmless from any claim or demand (including legal fees) made or incurred by any third party as a result of your employees’, affiliates’ associates’ or agents’ breach of this Agreement, breach of any applicable law and/or use of the Services.

Either Party shall promptly notify the other Party (the “indemnifying Party”) in writing of any potential claim and cooperate in all reasonable respects, at the indemnifying Party’s cost and expense, with the investigation, trial and defence of such claim and any appeal arising therefrom. The indemnifying party shall not compromise any claim or enter into any settlement, or consent to the entry of any judgment without the written consent of the indemnified party. The indemnified party may in addition retain separate counsel of its own choosing at its own cost.

Except if something more specific has been agreed upon in writing, in no event shall we, our associates, our affiliates and other related persons who act on our behalf, and/or the persons we enter into contracts with, have liability (including liability for negligence) for any foregone profits, missed opportunity, costs relating to the procurement of substitute goods or services, or for any indirect, incidental, consequential, punitive or special damages arising out of this agreement, under any cause of action or theory of liability (including negligence), and whether or not we have been advised of the possibility of such damage. These limitations will apply notwithstanding any failure of essential purpose of any limited remedy. Notwithstanding the above, the limitations set forth above shall be enforceable to the maximum extent allowed by applicable law.

We reserve the right to amend this Agreement at any time. Amendments may occur without prior notice, although we will endeavour to notify you through our Website within a reasonable timeframe and provide the effective date for these amendments. If you disagree with the proposed amendments, you have the option to terminate this Agreement before the proposed effective date of the changes. You may send an email in such instance at support@banxis.com. Unless you notify us and terminate this Agreement before the proposed effective date, you will be considered to have accepted the amendments. Amendments will take effect from the specified date, without retroactive impact on any existing rights or obligations.

Notwithstanding clause 36 (“Governing Law”) of these T&Cs, if any of these T&Cs are at any time held in any jurisdiction to be void, invalid or unenforceable, then they shall be treated as modified only to the minimum extent to align it with the laws of that jurisdiction and prevent them from being void and they shall be binding in that modified form.

Any delay or non-exercise by Banxis of any right, power and/or provision of these T&Cs shall not operate and/or be interpreted as a waiver of any right and/or any other related right.

These T&Cs and the relationship between Visitors and/or Registered Users and Banxis shall be governed and construed in accordance with the laws of the Republic of Cyprus and any Visitor and/or Registered User of the Website and/or Platform explicitly accepts and submits to the exclusive jurisdiction of the Court of the Republic of Cyprus for any matter arising from, directly and/or indirectly, the use of the Website. Accordingly, each Visitor and/or Registered User explicitly waives all and any rights to bring any action relating to the Website itself and/or Platform and/or their use in any court anywhere in the world.

Any rights not expressly granted herein are reserved.

If you have any inquiries about these Terms & Conditions, please contact us at support@banxis.com.