EEA settlement policy

MuchBetter Wallet Terms & Conditions EEA

Last updated: September 25, 2023

QUICKPAY LIMITED (“QuickPay“, “MuchBetter”, “we”, “our”, “us”) is an official distributor of an app based payment wallet (“the App”) allowing customers and merchants to process and manage e-payments in a secure, fair and economical way (the “MuchBetter Service”).

You acknowledge and accept that by checking the “accept” box when opening your Account, you agree to abide by these Customer Terms as amended from time to time (“Customer Terms”) concerning your use of MuchBetter Service. If there is any part of the Customer Terms you do not understand or wish to clarify, please contact our customer centre at support@muchbetter.com or visit here.

1.    DEFINITIONS

In these Customer Terms, the following words have the meaning set out beside them:

“Account” means your account with MuchBetter Service which holds electronic money and, where applicable, which your Card(s) is linked to;

“Account ID Information” means any and all of the following pieces of information: your Card details (Card number, expiry date and CVC code), your PIN, information you use to log in to your Account, your secure identification number and other Account credentials and information specific to your Account;

“Account Violations” has the meaning set out in clause 4;

“Authorised User” means a person authorised to use the MuchBetter Service, after meeting all eligibility requirements set out in these Customer Terms;

“Authorised User Site” means the mobile application, the App or website accessed by Authorised Users using their Account ID Information, where Authorised Users can view their transaction history, top up funds into their Account and make other Transactions;

“Business Day” means a day other than a Saturday, Sunday or a public holiday in Cyprus when financial institutions in Nicosia are open for business;

“Card” ;

“Customer Contact Centre” can be contacted by visiting Help.

“Top up” means the crediting of funds to your Account by purchasing electronic money;

“Merchant” means any commercial or business entity that (i) accepts cards displaying the MasterCard® acceptance symbol as payment (where a Card Transaction is concerned) or (ii) is validly registered with MuchBetter or with any company of the MuchBetter Group to accept Transactions from your Account;

“Month” means a calendar month;

“QuickPay”, “MuchBetter”, “we”, “our”, “us” also means QUICKPAY LIMITED with its registered office located at the Black Church, St. Mary’s Place, Dublin 7, Ireland;

“MuchBetter Exchange Rate” means the exchange rate used by us on all currency exchange transactions as published on our Website and which may be amended by us from time to time in accordance with these Customer Terms;

“MuchBetter” means Rtekk Holdings Limited (incorporated in the Isle of Man with company number 018684V), its subsidiaries, holding companies and any third party EMD (Electronic Money Distributer) supplier, including QuickPay limited.

“Payment” means any of the following: (i) any payment made using your Card; (ii) the debiting of an amount of electronic money from your Account and the concurrent crediting of such amount to a Merchant account, or another MuchBetter customer account, as designated by you (including by way of Subscription Billing); or (iii) the crediting of an amount of electronic money to your Account and the concurrent debiting of a Merchant account, or another MuchBetter customer account;

“Payment Order” means a request from you to us for us to execute one or more Payments;

“PIN” means the personal identification number which we issue to be used with your Card and access to the MuchBetter Service;

“Prohibited Transaction” means any of the following types of transactions: (i) drugs; (ii) pornographic content or services; (iii) illegal downloads; (iv) illegal gambling; (v) goods or services infringing Intellectual Property Rights of anyone, including a third party; (vi) firearms; (vii) Ponzi schemes or similar fraudulent investment operations; or (viii) any goods or services prohibited by applicable law and regulations to the user, user’s country or MuchBetter. We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories to these Customer Terms published on the Website;

“Recurring Payments” means an order by an Authorised User to make regular Payments from its Account at specified intervals to an online Merchant; For the avoidance of doubt, a Recurring Payment is a Payment and is subject to any applicable fees which may apply;

“Transaction” means, as the context permits: (i) a Payment; or (ii) a Withdrawal; or (iii) a top up; and, in each case less any applicable fees (including third party fees);

“Website” means www.muchbetter.com or such other website, mobile application or the App (“Apps”) through which we may offer the MuchBetter Service, or information related thereto, from time to time;

“Withdrawal” means removing funds from your Account by using your Card at any ATM or by selecting one of the withdrawal methods available to you in your country of residence as set out in the “withdrawal” page of the Authorised Users Site; and

“you” or “your” means the person to whom these Customer Terms shall apply.

2.    MuchBetter Service

QuickPay is acting as an Electronic Money Distributor (EMD) for Sureswipe E.M.I. PLC (“Sureswipe”), a public limited liability company established in Cyprus, with registration number HE366500 and registered address at 18 Kyriakou Matsi, 1st Floor, Nicosia 1082, Cyprus and authorised as an Electronic Money Institution (EMI) with authorisation number 115.1.3.26, under the supervision of the Central Bank of Cyprus.

QuickPay and Sureswipe activities are supervised by the Central Bank of Cyprus which is located at 80 Kennedy Avenue, 1076, Nicosia, the Republic of Cyprus, telephone number +357 22714100. Further details of the Central Bank of Cyprus are available at its official website: www.centralbank.cy.

By accepting these Customer Terms and using the MuchBetter Service you acknowledge that: (i) we are not a bank and your Account is not a bank account; (ii) Accounts are not covered by any deposit or investment protection scheme of the Republic of Cyprus or a comparable guarantee scheme in any other country; (iii) we do not act as a trustee, fiduciary or escrow holder in respect of balances in your Account; and (iv) we do not pay you interest on any balances in your Account.

Although you are not required to keep a balance in your Account, if you do have a balance in your Account, funds representing that balance are segregated and pooled with funds representing the balances of other Authorised Users in an account held by us pursuant to the requirements under the Law on Electronic Money and Electronic Money Institutions and the Law on Payment Institutions. We are not permitted to pay any interest to you in respect of balances held in your Account; any interest earned on the pooled account will be the property of QuickPay.

3.    Authorised Users

3.1 Authorised Users must:

• If a natural person – Be at least 18 years of age
• If a corporate – Be duly incorporated in accordance with the applicable laws governing the jurisdiction in which the business is established;
• Reside in a country which is not within the Non-Serviced Country list which may be amended by us from time to time, without notice;
• Open an Account through the App registration process;
• Provide full and accurate information, as required in the registration process and on ongoing basis
• Maintain an active address and phone number;
• Satisfactorily pass all of our required identity, security and verification checks; and
• Accept these Customer Terms, which includes our Privacy Policy.

3.2 Access to your Account or to certain MuchBetter Service may be restricted if you have had a previous Account which was closed by us or if you fail to comply with our requests for information or documentation.

3.3 These Customer Terms shall come into force on the date that we confirm to you that you are an Authorised User, or we otherwise make the MuchBetter Service available to you and shall remain in force until terminated in accordance with these Customer Terms.

4.    The Account – Applicable to natural persons

4.1 You may not open more than one Account without prior approval from QuickPay. We may close without notice any or all of the Accounts of an Authorised User who has, or whom we have reasonable grounds to believe has, unauthorised multiple Accounts.

4.2 You undertake and obligate to maintain your Account details updated at all times, including but not limited to: name, address, email address, phone number, Card or bank account information.

4.3 You must only use your Account for personal purposes and not as a means to trade or run a business unless, in certain circumstances as determined by us, we give our prior written consent for you to do so.

4.4 You must use your Account in accordance with these Customer Terms including, but not limited to, refrain from committing any Account Violations. Account Violations are:

• Using the Account for any Prohibited Transaction (see definitions at 1.0);
• Using the Account in any deceptive, fraudulent, inappropriate or false manner;
• Using the Account in any way and for any purpose which may violate laws or regulation which apply to the Authorised User or to relevant jurisdictions, and specifically (but not limited to) Financial legislation and regulation, such as anti-money laundering;
• Take any action which may interfere, limit or adversely affect the functionality of the MuchBetter Service; and
• Failure to interact with MuchBetter including providing due diligence as required.

4.5    Purchasing electronic money

4.5.1 You may purchase electronic money by accessing the App and selecting one of the top up options available to you depending on your country of residence. You may be asked to answer security questions or to complete other activities that we may reasonably require to ensure proper authorisation of a top up.

4.5.2 The electronic money will be credited to your Account, after the funds have been received by us and subject to deduction of the applicable fees and conversion fees, as detailed on the Website. Some top ups may be credited to your Account immediately, but are subject to reversal in case the actual funds do not reach QuickPay within a reasonable time in which case we will deduct the funds from the balance of your Account. If your Account balance is insufficient, we reserve the right to require repayment from you.

4.5.3 If you choose to make a top up through an account at your financial institution, you must ensure that this account has sufficient funds. If there are insufficient funds to clear the top up, we may debit the applicable insufficient funds charge and such uncleared payment from your Account, obtain it from your designated financial institution or otherwise collect it from you.

4.6   Making Payments to and from your Account

4.6.1 You can make Payments and Withdrawals, provided you complete the information on the “Cashier” page of the Authorised User Site, by:

• Using your Card;
• Paying straight from your Account to a Merchant accepting MuchBetter or another Authorised User;
• In some cases, the Merchant’s website which will enable you to make a Payment directly from that website;
• From/to another authorised MuchBetter account; and
• From any other authorised payment methods by MuchBetter such as crypto.

4.6.2 You must make sure you have sufficient cleared funds, including the required applicable fees, in your Account before making a Payment. Insufficient funds may lead to rejection of your Payment request.

4.6.3 The amount of any Payment made to your Account will be credited to your Account balance, less any applicable Fees. If a Payment credited to your Account is reversed by the sender prior to you performing a Transaction, the amount of the reversed Payment will be returned to the sender and no Fees will be owed by you.

4.6.4 You should take great care in providing us with instructions regarding Payment, including amounts and the identity of the recipient. We will not be liable for any error or omission which you may perform when providing us with instructions. The Payment Order must confirm:

4.6.4.1 the amount and currency of the money you wish to send pursuant to each Payment;

4.6.4.2 the details of the beneficiary account which is to be the subject of each Payment, including the following:

1. full name and address of the beneficiary;
2. the account details of the beneficiary account which shall be: (a) the IBAN; or (b)  such other details that we request from you.

4.6.5 The Payment Order shall be deemed to be received at the time at which it is received except that:

4.6.5.1 where the Payment Order is received on a day which is not a Business Day or is received after 4 pm, Nicosia time on a Business Day, we have the right to treat your Payment Order as having been received on the next Business Day; and

4.6.5.2 if a Payment is to be made on a day in the future your Payment Order shall be deemed to be received on the day stated for the making of that Payment (provided we hold enough Electronic Money to execute the Payment and pay the associated Fees) or, if that day is not a Business Day, on the Business Day immediately following that date.

4.6.6 Following receipt of a Payment Order, we may:

4.6.6.1 refuse that Payment Order and if we do so, we shall (unless it would be unlawful for us to do so) notify you of that refusal, the reasons for that refusal (if possible), and the procedure for rectifying any factual errors that lead to that refusal. Such notification shall be given to you as soon as practicable following the refusal and we may charge you for such notification where the refusal is reasonably justified. Such charge will be equivalent to the cost of processing the Payment Order. A Payment Order which is refused by us shall be deemed not to have been received for the purposes of section 4.6.5; and/or

4.6.6.2 request further confirmation or information from you if we consider that such confirmation or information is desirable and/or that Payment Order is ambiguous.

4.6.7 Your verification, authorisation and MuchBetter receipt of the Payment Order will be deemed as “Consent” for the execution of a Payment Order as set out in applicable laws.

4.6.8 Payments are subject to fees and currency conversion fees depending on the method used. Please see section 7 for further details on Fees.

4.7   Time for delivery of proceeds of Payment [*]

4.7.1 Where the Payment is denominated in Euro and:

4.7.1.1 is being sent to a beneficiary account in Cyprus, and the Payment Order is submitted before 00:00 Nicosia time, we shall ensure that the amount of the Payment is credited to the beneficiary’s payment service provider’s account by the end of the same Business Day;

4.7.1.2 is being sent to a beneficiary account in the European Economic Area (“EEA”), we shall ensure that the amount of the Payment is submitted to the beneficiary’s payment service provider’s account by the end of the Business Day and completed in no more than 3 business days from the moment it is submitted*, following that on which your Payment Order was deemed to be received, except where the Payment Order was submitted with the future Payment date – in such a case the amount of the Payment is credited to the beneficiary’s payment service provider’s account by the end of the Business Day on which your Payment Order was deemed to be received in accordance with section 4.6.5.2;

4.7.2 Where the Payment is denominated in an EEA currency other than Euro and the beneficiary account is located within the EEA, we shall ensure that the amount of the Payment is credited to the beneficiary’s payment service provider’s account no later than by the end of the fourth Business Day following that on which your Payment Order was deemed to be received.

4.7.3 Where the Payment is denominated in a non-EEA currency or if the beneficiary account is located outside the EEA, depending on the payment method used, it may take up to 72 hours to be submitted, and completed in no more than 3 business days from the moment it is submitted.

[*] All Payments are subject to transaction screening in accordance with applicable laws and regulations.

4.8    Negative Balance

4.8.1 If the Account balance is insufficient to cover your payments (and any additional fees), this will result in a negative balance. If your Account is in a negative balance, you . We may act to collect applicable amounts from you, including an automatic debit of any top ups you make to your Account. We will also be entitled to charge you for any fees which may be associated with such collection procedures. This right shall survive termination of these Customer Terms.

4.8.2 Without derogating from the generality of the above, in case your Account is in negative balance, we may, at our sole discretion, restrict your access to the Account or limit any of your rights as an Authorised User.

4.9   Recurring Payments

4.9.1 You may choose to use Recurring Payments, if an online Merchant offers such an option. The amount of the Payment and frequency of Payment will be determined by the relevant Merchant.

4.9.2 QuickPay is not a party to the Recurring Payments arrangement between you and the Merchant and the Recurring Payments shall be governed by the terms and conditions of the applicable Merchant. QuickPay cannot cancel or amend Recurring Payments without the consent of the relevant Merchant. Any request to amend or cancel the Recurring Payments should be made by you, directly to the Merchant.

4.9.3 QuickPay is not responsible to ensure that you have sufficient funds in your Account in order to perform the Recurring Payments and will not be obligated to inform you if a negative balance is likely to be created in your Account. If your Account goes into a negative balance, the terms set out in section 4.8 shall be applicable.

4.9.4 You will not be able to cancel a Payment that has already been made to a Merchant.

4.10  Closing your Account and redeeming your funds

4.10.1 You may close your Account by providing us with a written notification (email is acceptable). You may withdraw the balance in your Account (excluding amounts that have not been cleared by your financial institution) by selecting one of the withdrawal options in the “Withdrawal” page of the Authorised User Site, or if you have a Card or wearable connected to your Account, at any supportive ATM or PoS. The Withdrawal from an ATM may be subject to applicable fees.

4.10.2 Any funds which remain in the Account after the Account has not been active for 12 months will be moved to a pool account until these funds are claimed.

4.10.3 Our compliance with the Withdrawal request is conditioned on successful completion of all identity and security validation and verification inspections.

4.10.4 If your Account is not active for a consecutive period of 12 months, we may close the Account. Please see section 6.5 for more details.  Any balance remaining on the Account shall be withdrawn via one of the authorised methods.

4.10.5 Termination of these Customer Terms will terminate your Account. We will provide you with a two (2) months’ notice prior to such termination. If the Customer Terms become unenforceable or if we are required to terminate them by law or administrative order, we will terminate them and close your Account without prior notice.

4.10.6 Notwithstanding the above, we may, at our sole discretion, restrict your access to the Account or limit any of your rights as an Authorised User, if we have found, or have reasonable grounds to suspect, that you have committed any “Account Violations” (See section 4.4).

4.10.7 You can terminate these Customer Terms at any time and for any reason by cancelling your agreement with us.

4.10.8 Unless prohibited, we will notify you of the termination of your Account and will return to you any undisputed funds, provided they are not related to “Account Violations” which led to your Account’s restriction or termination.

4.10.9 If an Account has been closed, for any reason, you will not be able to perform any Transactions. You will be liable to pay all amounts which may have been incurred prior to the closing of the Account (including, Transactions, Payments, fees, etc.). This obligation shall survive the termination of these Customer Terms.

4.10.10 In addition, you have a right to request us to provide you with, in durable medium and free of charge, your transaction history during the past 36 (thirty-six) months before the termination of these Customer Terms (or a shorter period, if these Customer Terms was in force for less than 36 (thirty-six) months.

5.    Transactions

5.1 To authorise a Transaction, you are required to enter your Account ID Information or your PIN or press a button affirming you consent to the Transaction (some Transactions may require providing your Account credentials and pressing “consent” buttons). You cannot revoke a Transaction after you have consented to it.

5.2 We may refuse to execute any Transaction under the following circumstances if:

• we reasonably believe that you did not give us the instruction;
• we reasonably suspect fraudulent activity;
• your instructions are unclear, incomplete or not in the required form;
• we suspect that the Customer Terms have been violated;
• we need to do so in order to comply with the Card scheme rules; or
• we are otherwise required to do so by law or any other appropriate regulatory body.

5.3 Merchants may not be able to authorise a Payment if they cannot obtain online authorisation from us (for example, if they are unable to access the internet).

5.4 We will not be able to recover funds sent incorrectly, unless you have a police crime reference number or the consent of the other person involved.

5.5 Transactions are final and are not reversible except in the following circumstances and at our sole discretion:

1. where we confirm there has been a Merchant error;
2. where there is illegal activity involving your Account; or
3. where you are in breach of these Customer Terms.

5.6 All transaction information, i.e. information about the executed Payment Orders, is available anytime and free of charge through the Authorised User Site. You should regularly check transaction information for mistakes or discrepancies, through the Authorised User Site.

5.7   Unauthorised, Non-Executed or Incorrectly Executed Transactions

5.7.1 If you have any indication or suspicion of your Account ID Information being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you are advised to change your password. You must contact our Customer Support Team without undue delay on becoming aware of any loss, theft, misappropriation or unauthorised use of your Account ID Information. Any undue delay in notifying us may not only affect the security of your Account but may result in you being liable for any losses as a result. If you suspect that your Account was accessed by someone else, you should also contact the police and report the incident.

5.7.2 In the event of an unauthorised Transaction, or a Transaction which has not been executed or has been incorrectly executed by us, you must let us know without undue delay and in any case no later than 13 months after the debit date, by contacting the Customer Contact Centre. If requested to, you must also write to us within seven days to confirm the loss, theft or possible misuse.

5.7.3 Subject to satisfactory fulfilment of section 13, you shall be entitled to a refund in the amount of an unauthorised Transaction or a Transaction incorrectly executed by us and, where applicable, restoration of your Account to the state it would have been in had the unauthorised or incorrectly executed Transaction not taken place, provided you have notified us of the Transaction in question without undue delay and in any case no later than 13 months after the debit date (save where we have failed to provide or make available the required transaction information to you). Any undue delay in making a notification may result in you being liable for any losses as a result.

5.7.4 Subject to section 4, you are liable up to a maximum of EUR 50 (or the equivalent in the local currency) for any losses incurred in respect of an unauthorised Transaction arising from:

1. the use of your Account ID Information where these details have been stolen; or
2. where you have failed to keep your Account ID Information safe.

5.7.5 You will not be liable for any losses which arise after you have notified us that you believe any of your Account ID Information has been stolen or might be used in an unauthorised way.

5.7.6 You shall be liable for all losses incurred in respect of an unauthorised Transaction where:

• you have acted fraudulently;
• you have compromised the security of your Account with intent or with negligence (for example by failing to comply with section 14); or
• you have provided any of your Account ID Information to another person who then uses those details to make a Transaction. In these circumstances, we reserve the right to charge you for any reasonable costs that we incur in taking action to stop your Card or Account being used and to recover any monies owed as a result.

5.7.7 A recipient may decline to receive the Payment. In such a case, the Account will be credited in the amount of the Transaction and no fees will be charged.

5.7.8 If you receive funds into your Account that were not intended to be transferred to you, we will be entitled to remove these funds from your Account. We may be allowed to share your personal information with the paying payment service provider so that you can be contacted directly.

6.    Fees

6.1 Fees payable by you will be deducted from your Account balance and you hereby authorise us to do the same. Transaction fees will be charged when the Transaction is executed. If your Account balance is insufficient to cover the fees, we may refuse to execute the payment or suspend any benefit you are receiving. Reversal or chargeback fees will be deducted when incurred.

6.2 Details of the amount of the administration fee can be found on the feespage of the Website.

6.3 We reserve the right to change the fees from time to time, in accordance with the provisions of the relevant section of these Customer Terms. Changes to the reference exchange rate shall apply immediately, without prior notice.

6.4 Additional fees may apply when using an ATM, by the ATM provider.

6.5 If your Account was inactive for a period of 12 months (“Account Inactivity”) we may charge an administration fee (“Inactivity Fee”). We will provide you with a notification one month in advance by email. The Inactivity Fee will be charged monthly and will be deducted from the available funds in your Account. If there are insufficient funds in the Account, we will charge a portion of the Inactivity Fee that will not result in a negative balance. For additional explanations, see the fees section on our website.

7.    Currency Exchange

7.1 When you register your Account, you have the option of choosing from a list of currencies, which will be the currency in which your Account will be denominated.

7.2 If you make a Transaction in a currency other than the issue currency of your Account (including through a card or wearable connected to your Account), then such a Transaction will be converted to the currency of your Account on the day we receive final settlement for the Transaction (typically 72 hours after you make the Transaction) and will incur a foreign exchange feeYou will receive an estimate of the converted amount at the time you make the Transaction, but this may be less, or more, than the final amount deducted from your Account due to exchange rate fluctuations. We will use authorised rates applicable for such a Transaction. Additional foreign exchange fees may apply depending on the currency of the Transaction and the currency of your Card and wearable (see the fees section on our Website for further details).

8.    Chargebacks and Refunds

8.1 You may exercise a right to chargeback, if applicable, only in cases of unauthorized use of your Account or a breach of these Customer Terms by MuchBetter. For the avoidance of doubt, you may not chargeback any Transaction for reasons outside the control of MuchBetter, including, but not limited to, disputes with Merchants. We reserve the right to charge you all the fees and expenses MuchBetter may incur which are associated with such chargeback.

8.2 We may, at our discretion, recover from you such amount which you decide to chargeback. We may do so by re-charging your credit card or bank account. This recovery shall not derogate from any other remedy we may have in accordance with these Customer Terms or any applicable law.

8.3 You must notify us of any dispute with a Merchant within 180 days of the purchase and chargeback will be applied to your Account if successfully secured from the Merchant through Card; Card issuer (and not QuickPay) will determine who will win the chargeback. In case of false chargeback claim, we reserve the right to debit your Account and charge you any fees we reasonably incur in pursuing the chargeback claim.

9.    Rewards or Promotional Programs

9.1 We may offer reward programs or other promotional programs from time to time (“Promotions”). Such Promotions will be subject to the specific Promotion rules. We reserve the right to cancel or amend the terms of any such Promotion at our discretion.

9.2 Authorised User participating in such Promotions must not be an employee, director, associate, agent, affiliate, relative or otherwise connected to MuchBetter or any affiliate thereto.

9.3 The rewards are for personal use only. To the extent that a reward is not cash or credit to an Account, then the reward is non-exchangeable, non-transferable and no cash alternative is offered. Authorised Users are not allowed to sell the rewards or use them for any other kind of commercial purposes. We reserve the right to exclude Authorised Users who may be deemed to be abusing the rules of the Promotion and, if necessary, take further legal action.

9.4 Unless stated otherwise in the specific Promotion rules, rewards will be credited to the Authorised Users’ account within 24 hours after completing all the applicable terms of the Promotion.

9.5 Rewards are subject to verification. MuchBetter may delay a reward for the purposes of investigation or for any other reason it deems appropriate.

9.6 All of the MuchBetter’s decisions in relation to the Promotions are final and binding.

9.7 You shall not perform any of the following activities:

• Manipulate or abuse the Promotions including without limitation making fake and/or artificial top ups.
• Register an Account using counterfeit, forged, imitated, stolen or otherwise altered identification documents.
• Register a new Account or enter with multiple or fake emails addresses or accounts, use fictitious identities or use any system, bot or other device or artifice to participate in the Promotion or receive a reward.
• Participate in the Promotion where doing so would be prohibited by any Applicable Regulations or local legislation in your jurisdiction.

9.8 MuchBetter may prohibit any Authorised User or new user from participating in the Promotions or receiving rewards, if it determines in its sole discretion that such user is attempting to undermine the fairness, integrity or legitimate operation of the Promotion in any way by cheating, hacking, deception, or any other unfair practices.

9.9 CAUTION: ANY ATTEMPT TO DELIBERATELY DAMAGE OR UNDERMINE THE LEGITIMATE OPERATION OF THE PROMOTIONS MAY BE IN VIOLATION OF CRIMINAL AND CIVIL LAWS AND WILL RESULT IN DISQUALIFICATION FROM PARTICIPATION IN THE PROMOTIONS. SHOULD SUCH AN ATTEMPT BE MADE, MUCHBETTER RESERVES THE RIGHT TO SEEK REMEDIES AND DAMAGES (INCLUDING ATTORNEY FEES) TO THE FULLEST EXTENT OF THE LAW, INCLUDING CRIMINAL PROSECUTION.

9.10 MuchBetter reserves the right to cancel, modify, postpone, change or suspend any Promotion at its sole discretion.

9.11 Some rewards may require sharing of personal data with third party suppliers. Personal data supplied during the course of this Promotion may be passed on to third party suppliers only insofar as required for fulfilment of the prize. Any personal data shall be processed strictly in accordance with our Privacy Policy.

9.12 Some rewards may involve participation in publicity material related to the reward which may include the publication of the winners’ names, age and image in any media (including social) and for unlimited time.

9.13 In any case of a conflict between this section of the Customer Terms (Rewards or Promotional Programs) and any specific Promotion terms, the specific Promotion terms shall prevail.

10.      Complaints Procedure

10.1 If you wish to make a complaint about the payment services provided by QuickPay, you can make a complaint by sending an e-mail to complaints@muchbetter.com. QuickPay has internal procedures for handling complaints fairly and promptly in accordance with the Bank of Cyprus requirements. A copy of QuickPay complaints’ procedure is available on MuchBetter Website and may also be sent to you directly upon your request.

10.2 We will respond to your complaint in writing or using another durable medium within 15 (fifteen) Business Days after the receipt of complaint. In exceptional cases, due to reasons which are beyond our control, it may send you a preliminary response by indicating reasons for delay and the term by which you will receive our final response. In any case the term for provision of final response will not exceed 35 (thirty-five) Business Days after the receipt of complaint. Handling of complaints is free of charge.

10.3 Should you are a consumer and not satisfied with our final response, or should we fail to respond to you within 15 Business Days from receiving the complaint, you shall have a right to apply to one the following:

Financial Ombudsman of the Republic of Cyprus:

– Address: 13 Lord Byron Avenue, 1096 Nicosia
– Phone: +357 22848900
– Facsimile (Fax): +357 22660584, +357 22660118
– Website: financialombudsman.gov.cy
– Emails: ombudsman@financialombudsman.gov.cy,
complaints@financialombudsman.gov.cy

Central Bank of Cyprus:

– Address: 80 Kennedy Avenue, 1076
– Nicosia Phone: +357 22714100
– Facsimile (Fax): +357 22714959
– Website: 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: adrcyprus.com

11.      Establishing your identity

11.1 To comply with the requirements of anti-money laundering and counter terrorism financing laws and regulations, it may be necessary to obtain from you, and retain, evidence of your personal identity (and other personal information) in our records from time to time. If satisfactory evidence is not promptly provided to us, we cannot accept your instructions.

11.2 To assist us with meeting our obligations, we may carry out an electronic verification check via third party providers in order to verify your 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. You acknowledge that us carrying out an electronic verification check may leave a soft footprint on your credit history.

11.3 We are also obliged to report any reasonable suspicions about instructions received, transactions and activities to the regulatory authorities. This may affect our relationship with you so far as confidentiality is concerned. If we are required under legislation (including anti-money laundering and counter terrorism financing laws and regulations) to refrain from communicating with you and/or proceeding with your instructions, we can accept no liability for the consequences of being prevented from doing so.

12.      Keeping Your Account and Card Safe

12.1 It is your responsibility to keep your Card or wearable safe. You must take all reasonable precautions to keep your Account Information confidential and secure. This includes ensuring the ongoing security of your Account Information and your device for accessing the Internet. You are required to change your passcode regularly and to use up to date virus, malware and spyware scanning software and firewall protection to reduce the risk of a security breach.

12.2 You will receive a PIN for your Card. You must keep your PIN secret at all times. You must not disclose your PIN to anyone including friends, family or any Merchant. You must not write down your PIN anywhere. You must not use your PIN if someone else can see you typing it in.

12.3 If you suspect that someone else knows your Account login Information or Card PIN, you must change your passcode immediately and PIN. If you forget your Card PIN you can find the details in your Account. It is important you keep your Account safe and secure as it provides access to your Card.

13.      Privacy

13.1 Our Privacy Policy forms part of these Customer Terms and you should review the policy prior to agreeing to these Customer Terms.

14.      Warranties, Liabilities and Disclaimers

14.1 You warrant and represent that:

• your use of the MuchBetter Service does not violate any laws or regulations;
• you will indemnify us from and against any costs, expenses and liabilities that might arise from your use of the MuchBetter Service or your Card in violation of any law or regulation, even after the termination of the relationship between the parties.

14.2 QuickPay warrants and represents that it:

• retains all intellectual property rights in the MuchBetter Service and any use by you of such intellectual property rights, is prohibited
• reserves the right to validate and verify any of the information that you provide to us with third parties at any time.
• disclaims any and all liability for any goods or services bought or sold by you that are settled through your use of the MuchBetter Service.

14.3 QuickPay does not make any statement in relation to or endorsement of the quality, safety or legality of any goods or services provided by Authorised Users or Merchants;

14.4 Without limiting section 4, we shall make reasonable efforts to ensure that debits and credits to your Account are processed in a timely manner. It should be noted that there are some factors outside our control such as connectivity issues with third party suppliers planned and unplanned maintenances activities, periodic testing, repair, upgrade or outages which negatively impacts your ability to use your Card. We make no representations or warranties as to continuous, uninterrupted or secure access to the MuchBetter Service, which may be affected by factors outside our control.

14.5 We make no express warranties, guarantees or conditions to you with respect to the MuchBetter Service except as set out in these Customer terms and all implied and statutory warranties and conditions, including without limitation any warranty or condition of fitness for a particular purpose are hereby expressly disclaimed except where implied or statutory warranties cannot be disclaimed by applicable law.

14.6 QuickPay and the MuchBetter Group, their agents or subcontractors, shall not be responsible for any claim, loss or damage suffered or incurred by you or any third party unless it has been caused as a direct result of our negligence or wilful misconduct; provided that under no circumstances shall QuickPay or the MuchBetter Group, agents or subcontractors be liable for any claim, loss or damage caused or alleged to be caused by any of the circumstances detailed in these Customer Terms.

14.7 In no event shall we, our affiliates, holding companies, subsidiaries, agents or subcontractors be liable to you or any third party for any indirect, special, consequential, punitive, exemplary or incidental damages, whether based on negligence, wilful misconduct, tort, contract (including without limitation fundamental breach or breach of a fundamental term) or any other theory of law or for any damages for loss of data, loss of income, failure to realise expected revenues or savings, loss of profits or any economic or pecuniary loss.

14.8 You agree to indemnify us, our affiliates, holding companies, subsidiaries, agents and subcontractors from and against any and all claims brought by third parties against us, our affiliates, holding companies, subsidiaries, agents or subcontractors relating to your use of the MuchBetter Service in respect of all claims, losses, damages, expenses and liabilities whatsoever suffered or incurred by us, our affiliates, holding companies, subsidiaries, agents or subcontractors as a result of your breach of these Customer Terms. This provision shall survive termination of the relationship between you and us.

15.      General

15.1 These Customer Terms shall apply to all Authorised Users.

15.2 Section headings shall not affect the interpretation of these Customer Terms.

15.3 A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality).

15.4 Unless the context otherwise requires, words in the singular shall include the plural and words in the plural shall include the singular.

15.5 Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.

15.6 It is a condition of authorised use that you agree to these Customer Terms, which form a legally binding contract between you and us once you register to become an Authorised User.

15.7 The following policies, as amended from time to time, are incorporated into and form part of these Customer Terms (and the term “Customer Terms” shall be deemed to incorporate such policies):

• Non-Serviced Countries list
• Privacy Policy
• Complaints Policy

15.8 The latest version of each of these policies is located on the Website for your reference. At the date of these Customer Terms each of these policies can be found at: https://www.muchbetter.com.

15.9 We may engage the services of one or more affiliates, holding companies, subsidiaries, agents or subcontractors in order to fulfil our obligations.

15.10 These Customer Terms shall be governed by the laws of Cyprus. All disputes arising out of or relating to these Customer Terms shall be resolved by the Cypriot Courts, except where European Union legislation requires a specific dispute to be resolved by the courts of another jurisdiction.

15.11 We may send communications and notices to you at the phone, email address or postal address you provided to us during the registration process (or as updated subsequently by you). Any and all communications and notices by either party under these Customer Terms by electronic communication, phone or email shall be deemed given on the day the email is sent, unless the sending party receives an electronic indication that the email was not delivered; and if by mail, shall be deemed given 10 business days after the date of mailing.

15.12 If any part of these Customer Terms is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of the Customer Terms, which shall continue to be valid and enforceable to the fullest extent permitted by law.

15.13 These Customer Terms and the policies referred to in section 17.7 constitute the entire agreement between us and you with respect to the MuchBetter Service and supersede and replace any and all prior agreements. In the event of inconsistency between this version of the Customer Terms and the version on the Website, the version on the Website will always prevail.

15.14 Our delay or failure to exercise or enforce any right under these Customer Terms shall not be deemed to be a waiver of any such right or operate to bar the exercise or enforcement thereof at any time or times thereafter.

15.15 The rights and remedies available to us in these Customer Terms are cumulative and are in addition to any other right or remedy available to us at law or in equity.

15.16 You may not transfer, novate, assign, subcontract or delegate your rights, duties or obligations under these Customer Terms. We reserve the right to transfer and assign these Customer Terms, and you agree that we may assign any rights or novate any obligations hereunder, without your further consent.

15.17 No provision in these Customer Terms creates a partnership between you and us or makes either of us or you the agent of the other for any purpose. You have no authority to bind, to contract in the name of, or to create liability for us in any way for any purpose.

15.18 In the event these Customer Terms are available in a language other than English, all versions are legally binding; if there is any inconsistency between the English Language version and a translated version, the English Language version will prevail.

16.      Changes to the Customer Terms

16.1 We may find it necessary to change the Customer Terms from time to time and we will notify you of any important changes by sending a push notification and text message to your registered phone number you registered with your Account and by posting notice of the changes on our Website with a link to the amended Customer Terms.

16.2 We will provide at least two (2) months’ notice before the proposed changes come into effect, however changes that make these Customer Terms more favourable to you or that have no effect on your rights shall come into effect immediately if so stated in the change notice.

16.3 Changes to the MuchBetter Exchange Rates shall come into effect immediately without notice (all transactions involving currency conversion are calculated based on the average daily interbank market rate published by a third-party foreign currency data provider (Xe.com) to which we add a fee as set out in our Website).

16.4 You may object to the changes by notifying us via email, before the changes come into effect. If you object to the changes, they will not apply to you. However, any such objection shall constitute a notice by you to terminate and close your Account. Your Account will be closed in accordance with the provisions of section 4.10 above.

17.      Third Party Providers

17.1 You can choose to allow a Third Party Provider (TPP) to access information on your Account, to combine and display information about your Account with information from accounts you have with other payment service providers, and, if applicable to your MuchBetter Card, to make payments for you from your Account, provided the TPP is authorised by the relevant European regulator and you have given your explicit consent.

17.2 If you do, you must keep us informed of any incorrect or unauthorised transactions that happen, so we can take steps to stop further misuse of your payment instrument and arrange any refund you’ve been entitled to.

17.3 If you are thinking of using a TPP, it is important you check with the regulator whether it is authorised before you use it.

17.4 You can see the Central Bank of Cyprus authorised firms at the following link on its website: https://www.centralbank.cy/.

17.5 We can refuse or stop access to a TPP if we are concerned it is not authorised or if we believe it’s fraudulent or acting fraudulently. If that happens, we will contact you to explain why unless we believe that would compromise our security or it would be unlawful. This change will not affect any customers who do not use TPPs.

18.      Emergency Contact

18.1 We may need to contact you urgently if we suspect or find fraudulent activity has occurred on your Account (provided we are not prohibited from doing so by law) or if we suffer a security threat. To do so, we may (for example) send you a text message instead of calling or emailing you, if we think this is the quickest way to contact you. When we contact you, we will also give you information on how you can minimise any risk to your payment instrument depending on the nature of the security threat.

18.2 We’ll use the same contact details which you have already provided us with when contacting you. You must inform us immediately if your personal details or contact information change.

19.      MuchBetter Support

Our Customer Contact Centre is open 24 hours a day, 7 days a week. You can find contact details on the Website. A Lost and Stolen reporting service for Cards is also available 24 hours a day, 7 days a week, the details of which can be found on the back of your Card, or on the Website. You can also freeze your Card or wearable on the App.