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GENERAL CONDITIONS AND REIMBURSEMENT POLICY | Trans-Fast España

GENERAL CONDITIONS AND REIMBURSEMENT POLICY

Last Update January 2019.

In accordance with the provisions of current legal regulations provided for in Law 18/2018, of November 23, on payment services; The purpose is to establish the transparency measures towards the clientele that are presented below through the conditions of a general framework of rights and obligations assumed by the parties in relation to the use of the money remittance service.

Trans Fast Financial Services, SA, EP, CIF: A-83085217 (hereinafter Trans Fast, EP or Entity) is a Payment Entity authorized by the Bank of Spain to provide the service of sending money and registered under registration No. 6813 through its Main Office located at Batalla del Salado street, 25 CP 28045 Madrid and through its Authorized Agents throughout the Spanish territory.

Definitions:

Agent: a natural or legal person who provides payment services on behalf of a payment service provider.

Correspondent Bank / Payer: Also called Payment Service Provider that is legally authorized to perform the transfer service to the beneficiary of the payment order.

Beneficiary: a natural or legal person who is the intended recipient of the funds that have been the subject of a payment transaction.

Business day: commercial opening day (every day of the year except Sundays and holidays are of international, national, autonomous or local scope), for the purposes necessary for the execution of a payment transaction, of the payment service provider of the payer or of the beneficiary involved in the execution of the payment transaction.

Entity of payment: a legal entity to which authorization has been granted, to provide and execute payment services.

Value date: time used by a payment service provider as a reference for calculating the interest on the funds subscribed or charged to a payment account.

Unique identifier: a combination of letters, numbers or signs specified by the provider of payment services to the Originator of said services, which the latter must provide in order to unequivocally identify the other Originator of the payment service, to its payment account in a payment transaction or both.

Originator / Sender: a natural or legal person holding a payment account that authorizes a payment order from that account or, in the event that there is no payment account, the natural or legal person that issues a payment order payment.

Payment order: any instruction issued by a payer or beneficiary to its payment service provider requesting the execution of a payment transaction.

Payment service provider: credit institutions, payment entities such as Trans Fast and other financial entities and agencies contemplated in Law 18/2019 on payment services.

Sending / receiving money service: a payment service that allows you to receive funds from a payer without creating a payment account in the name of the payer or beneficiary, with the sole purpose of transferring an equivalent amount to a beneficiary or another payment service provider acting on behalf of the beneficiary, or receiving funds on behalf of the beneficiary and making them available to him.

Reference exchange rate: exchange rate used as the basis for calculating any currency exchange, whether provided by the payment service provider or from a publicly available source.

Payment service provider: the natural or legal person that uses a payment service, either as payer, beneficiary or both.

Description of the Services provided by the Payment Institution:

Service of sending / Receiving money In-person / Distance:

The money remittance service enables the Originator to use the remote or technological means to allow the Originator, either as a real holder or as authorized to send money from / to abroad.

Money transfer service through “Trans Fast On Line” system (online):

It is a payment mechanism in foreign currencies carried out by Trans Fast, EP through electronic funds transfer, on behalf of the Service Provider and in favor of natural persons resident in other countries.

Main characteristics of the Service:

Fast and secure payment system.

Service with international coverage through correspondent banks.

Through this mechanism, international payments are made for family remittances.

It can be made in any internationally quotable currency

Identification System for any option of the Services of sending / receiving money: (Face-to-face / Distance / Trans Fast On Line)

Data to be provided by the Customer and Beneficiary:

Individuals: Original and in force of the identity document DNI, PASSPORT, RESIDENCE CARD (NIE), or (another identity document valid in the country of origin that incorporates a photograph of its owner and signature in accordance with current legal regulations), activity economic or professional, address, telephone, concept by which the operation is carried out and amount in euros to send.

Legal Persons: copy of the original articles of incorporation, a copy of the original identity document of the Royal Owner (natural person acting on behalf of the company), document proving the tax identification (NIF) and address.

Important, if the payer acts on behalf of another person, he must prove the powers of representation and identification of the Originator on behalf of which he acts.

Information to be provided by the Beneficiary: Full names, telephone, city, country, amount, currency and concept of the order, payment method. If it is to be deposited in a bank account at destination, name of the Bank, number and type of bank account. And in some cases according to the conditions of each country, beneficiary identity document number, full address, population, type of relationship and email (optional).

Authorization of the payer to third parties.

The Issuer may authorize another person, by power of attorney or in writing, signed by both the authorizer and the authorized person in the presence of Trans Fast Financial Services S.A., E.P.

The payer exempts Trans Fast Financial Services SA, EP from any claim against it in the event of the use of the revoked powers or signatures modified, limited or extinguished provided that Trans Fast Financial Services SA, EP has not previously received Communication of the aforementioned variation.

For the Computers that make a shipment in a non-face-to-face manner even through the Trans Fast On Line system; It will be managed according to the following:

The identity of the Service Provider is accredited in accordance with the provisions of paragraphs a) b) and c) of section 2.1.

The first income comes from an account in the name of the same Service Operator opened in an entity domiciled in Spain, in the European Union or in equivalent third countries.

The Originator may only deliver the money exclusively and without exception to the offices of Trans-Fast, E.P., or through bank transfer in one of our bank accounts intended for that purpose; and under no circumstances will the client transfer to bank accounts in the name of authorized agents (natural or legal persons) or third parties other than Trans Fast Financial Services, S.A., E.P.

In the case of the Fast Fast Line Service; the Originator must be linked to the services of Trans Fast, EP; register through the Trans Fast web portal, filling in the requested details of formal identification; send the identification document: DNI / NIE / Passport in force.

For New Order (customers) without exception must make the first entry as indicated in paragraph b) of this section in accordance with the Non-Presential operations, the Legal Compliance Department of the Entity when it requires it will request additional documentation to execute the operation.

For the Beneficiaries that receive a non-contact delivery; it will be managed in attention to the following:

Your identity document will be requested and must be in force and complete the formal identification information (country of origin, nationality, residence, economic or professional activity) prior to payment of the order.

In compliance with Law 10/2010, of April 28 on the prevention of money laundering and the financing of terrorism, Trans Fast, E.P will request the applicant to complete and sign a customer knowledge form; and provide, additional information, when: 1) the amount sent exceeds the maximum time limit of € 3,000, in a single operation or accumulated in the period of three calendar months; 2) when it is required by the Bank’s policy.

The Originator will accredit his labor, economic or professional activity, declarations of origin and destination of the funds, place of stay in Spain (certificate of registration, invoice or bank receipt in which his name and address are recorded, etc.), proof of income of funds (payroll, etc.).

For any query about the address of the place to send / receive an order and / or bank account number of Trans Fast, EP, the payer / beneficiary can contact the telephone number indicated in section 11 of customer service.

Applicants are not admitted, who make attempts to not complete the information requested, minors or those customers who do not provide the reliable documentation requested by Trans Fast, EP, or those Ordering that the Entity reserves the right of Non-Admission.

The proof of the executed operation will be understood as having the same validity of the autographed signature and will have full evidentiary value in relation to the instructions or statements made through them.

Trans Fast, EP will not ask the Originator or Beneficiary any type of data, information, document or filling in forms by any means, either by telephone, SMS, email or WhatsApp after the execution of a payment order for shipping / receipt. of money.

Rates, commissions and expenses, service exchange rate:

The money transfer service will accrue in favor of Trans-Fast, E.P., a maximum fixed commission of € 12 plus a maximum percentage fee of 6%, which will be solely at the expense of the Originator.

The issuance of certificates will accrue a fixed commission in favor of Trans Fast of € 3.

The rates and commissions of the service offered by Trans Fast E.P. they will be duly updated and published on the bulletin board in our Main Office; and in the premises in which our Authorized Agents operate, in a perfectly visible place.

In the case, the currency purchase service will not earn any commission in favor of Trans Fast, E.P., and will apply the updated reference exchange rate published on the bulletin board existing in our Main Office.

Payment of Commissions and expenses: All commissions and expenses in sending money are charged to the Originator; the beneficiary will receive the full amount shown on the invoice delivered to the Originator and in the currency that he has decided to send.

The Correspondent may not charge the beneficiary any commission for the service, nor for any other concept, unless it is required by local law additional charges pertaining to local taxes, or has been previously agreed.

In all cases, the exchange rate of reference and fees applied will be communicated to the Originator prior to the issuance of the order, and will also be printed on the invoice and signed by the same as acceptance of the transaction.

Delivery time for payment services:

4.1) For the On-site / Remote delivery service:

Payment orders are normally ready to be collected by the beneficiaries within a maximum period of 24 to 48 business days (Monday to Friday), counted from the moment the payment order is transmitted to the correspondent, except for destinations special and / or bank deposits for which the maximum term will be 72 business hours. For the calculation of these terms, only bank working days will be considered.

These deadlines can be extended automatically when the operation requires additional verification by the Department of Legal Compliance, in accordance with section 2.4 of these Conditions.

4.2) For the shipping service through Trans Fast On Line System:

The delivery time of the consignment at destination ranges between 2 and 72 hours of business days (Monday to Friday). In the event that the Ordering party has applied to make the payment order and has not made the entry or transfer into the Trans Fast, EP account within 72 hours, the order will be eliminated without prior consent or withdrawal by the party. of the Originator due to fluctuations in exchange rates. Therefore, you must manage this operation again.

4.3) For the service of payment of orders received:

Delivery times for payment orders received in Spain range between 2 and 72 business days.

Authorization of payment operations.

The payment transactions will be considered authorized when the Originator has given the consent for its execution. In the absence of such consent, the payment transaction will be considered unauthorized. It is understood that such consent is unequivocal when the Originator signs the invoice as execution of the payment order.

Confirmation of the availability of funds.

The beneficiary must show a valid and valid ID ORIGINAL document in order to withdraw the money. In some cases you will also be asked for a key number that is a Unique Identifier, which will be communicated to the Originator at the time of the transaction, or directly to the beneficiary when you are notified to go to withdraw the amount of the payment order. .

Payments can be made in cash, check / check or both and by bank deposit in the beneficiary’s account, in the currency of the country of destination, USD and / or Euros, when so requested by the Originator and in the destinations that are available. transfer service to bank account. The payer will be informed of the address, telephone numbers and hours where the beneficiary must go to collect their money. And in some cases the beneficiary will be notified by phone or via whatsapp that their transfer is ready to be collected.

Payment orders executed incorrectly.

When the Originator learns that a payment transaction has been incorrectly executed, he must communicate it to Trans Fast without undue delay, in order to rectify the omission or the error committed. If it is impossible to rectify the error and it is attributable to Trans Fast, the Entity will return to the Originator the total amount of the money transfer order.

On the other hand, if the error is attributable to the Originator, it will be incumbent on him to assume the incident generated by the data erroneously provided by the sending of the payment order, therefore, the amount will not be refunded as a commission; and in the cases of requesting its return, the Return Policy of the Entity will be in accordance with the established form and deadlines.

It will be understood that the execution of a new payment order for error or omission of data from the beneficiary by the payer, the delivery time to the beneficiary will start from said new order authorized as indicated in section 4.

No execution or defective execution of a payment order made.

Trans Fast, EP will be liable to the Originator for the correct execution of the money transfer operation, until such time as the amount is paid to the beneficiary.

In the case of payment transactions, the responsibility of Trans Fast will be extended until such time as the amount of the money remittance order is paid into the correspondent’s account of the beneficiary’s payment services. Once this payment is made, the beneficiary’s payment services correspondent will be responsible to the beneficiary for the correct execution of the operation.

In the case of payment transactions not executed or executed defectively, when the Entity is liable to the Originator, it will return the amount corresponding to the transaction without undue delay to the Originator, in accordance with the terms established in the Return Policy of the Payment Institution.

When the person responsible in accordance with the provisions of the preceding paragraph is the beneficiary’s payment services correspondent, the beneficiary shall immediately make available to the beneficiary the amount corresponding to the payment transaction.

In any case, Trans Fast, EP will try to find out immediately, on request and independently of its responsibility, the data related to the payment transaction and will notify the Originator of the results.

Refund Policy / Money Refund:

The Paying Party Originator will request to process the elimination or cancellation through the main office of the Network of Agents; as well as, those that operate through the Trans Fast On Line platform.

The refund to the Originator of the amount of the payment order, will occur in case the fault is not attributable to Trans Fast, EP will be refunded the net amount, without commission and expenses paid in relation to it, when there is: a) Impossibility of delivery of the transfer, due to error or omission in the identification data of the beneficiary provided by the Originator of the service. b) the identification presented by the Originator is not valid, including option c) that the beneficiary does not withdraw the transfer.

In cases where the causes were attributable to Trans Fast, EP the Paying Party Originator has the right to request a total refund, including expenses and commissions, on an executed operation.

At the request of Trans Fast, EP will correspond to the Originator demonstrating that such conditions are met when the following occurs: i) The shipment did not specify the exact amount of the transaction; ii) That the amount of the transaction exceeds the amount that the payer could reasonably expect taking into account the previous spending guidelines, these general conditions and the circumstances relevant to the case.

In the event that the Paying Party Originator requests to process the elimination or cancellation through the Trans Fast On Line Service: (Non-Presential Operations)

In accordance with the Particular Conditions of the Trans Fast On Line Service: You can register on the Web of the Trans Fast On Line service in the Incident Access, such request where the Entity’s Customer Service will contact you by telephone with the ordering

At any time you can go to the main office of the Entity, to the address indicated in point 14 of the Conditions or through the Network of Authorized Agents where you can fill out the cancellation form and start the process.

In both cases, the Entity must complete and process the cancellation and reimbursement within 72 hours (understood between working days) from the request for the elimination / cancellation discounting if necessary the service charges for commission.

The Originator may not invoke reasons related to the currency exchange when the reference exchange rate that is visible for information purposes has been applied prior to the acceptance of the shipment of the order, or through the Trans Fast On Line portal or in the Web of the Entity where it indicates “Change of the day”, according to the particular conditions of the Trans Fast On Line service.

In any of the cases indicated above, the Entity will contact the Service Provider to proceed with the corresponding return or refund; according to the indications expressed in this policy that indicates payment method, type and time of reimbursement.

The means of payment used for the execution of the refund or return will be through the same means that the operation was performed. As established in the Single Annex of the Return Policy of the Payment Institution.

If the Service Provider is not satisfied with the service provided, he / she may submit his / her complaint or claim, since the Entity has a Customer Service Area to which the attention and resolution of queries, complaints and claims submitted by its Applicants, in relation to their legally recognized interests and rights. The data is exposed in point 14 of the aforementioned General Service Conditions.

Trans Fast, EP may reject the execution of an order to send or pay money, when the payer or beneficiary refuses to provide any information or documentation required in these general conditions, or in application of the internal policy on the Prevention of Money Laundering. of Capitals, notifying the Ordering Party of the negative service and, as far as possible, the reasons for the same, as well as what must be done to rectify the possible errors or omissions in fact that have motivated

In the Particular Conditions of the Trans Fast On Line Service, the Return Policy is also expressed.

Special declaration:

In the case of payment orders for an accumulated or singular amount of more than € 3,000, the payer must make a declaration of origin and destination of funds, in addition to attaching the Customer Identification Form duly completed, without prejudice to the fact that Trans Fast E.P. request additional information as expressed in section 2 of this document.

On the Responsibility of the Parties:

In no case Trans Fast E.P. shall be liable for damages or for negligence of one or more of its special indirect, incidental, consequential or for loss of profit obligations, as regards: The responsibility on the part of the Originator in case of payment transactions not authorized by the latter, to the provided third parties with passwords, access codes and bank details (credit / debit card) to manage money transfers.

In cases where the payment order is the result of fraudulent actions, you will receive the total amount sent, including commissions, as a result of operations not authorized by the client.

Protection of the funds of the Paying Service Operators:

The Entity will protect the funds received from the Paying Agents of its payment services subject to the procedure set forth in article 21.1, paragraph a), of Law 18/2018, of November 23, on payment services. Therefore, the funds received from the Ordering Parties will not be mixed at any time with the funds of any individual or legal entity that is not Payment Service Operators in whose name the funds are available and, in case they are still in possession of the Entity and have not yet been delivered to the beneficiary or transferred to the Correspondent at the end of the business day following the day in which the funds were received, will be kept in the open deposit account that functions as the guarantor of the funds and which is detailed to continuation:

 

ENTIDAD FINANCIERA

CUENTA CORRIENTE

TIPO

BANCO SABADELL ES43 0081 7102 0800 0163 5769 Saldo de Clientes de Entidad de Pago

 

In this case, the holders of the funds shall enjoy the right of separation on the account mentioned in the preceding paragraph, in accordance with the regulations in force, for the benefit of the Paying Service Operators, with respect to possible claims of other Trans creditors. Fast, particularly in case of insolvency.

 

  1. Treatment of the Collection of Personal Data:

Responsable del Tratamiento TRANSFAST FINANCIAL SERVICES SA

A83085217

Batalla del Salado street, 25, esc. Bj of Madrid 28045 (Madrid)

P. Contact: Dept. of Administration TRANSFAST FINANCIAL SERVICES SA

dpo@transfastspain.com

Purpose of the Treatment: Generation and processing of the commercial invoices of the company, claim management of collections.

Legitimization of Treatment

Arts. 29.2. e) Law 58/2003, 164.One. 3º Law 37/1992, 2 RD 1496/2003; as well as arts. 4, 5, 6, 7 and 12 of Law 10/2010. In case of not providing the necessary data for the purposes of the treatment, administrative management will not be possible. The data will be kept for the duration of the business relationship with the client and in case of withdrawal, the minimum period indicated by the current legal regulations.

Recipients of Transfers or Transfers Data transfers will not occur except those covered by the current data protection regulations. Data conservation dates These data will be kept for the time required for its function or as much as the corresponding tax legislation indicates. Exercise of Rights Interested parties may exercise the rights of Access, Rectification, Deletion and Portability of the data provided and limitation or opposition to the processing by writing a document, accompanied by an identification document in force, to TRANSFAST FINANCIAL SERVICES SA – Dept. Customer Service Department

Batalla del Salado street, 25, esc. Bj de Madrid 28045 (Madrid) or by e-mail to dpo@transfastspain.com

Interested parties have the right to withdraw their consent.

Interested parties have the right to complain to the Control Authority (www.agpd.es).

Trans Fast E.P. reserves the right to adopt all the rules and security measures it deems appropriate to guarantee the good use and confidentiality of the service.

The Originator authorizes Trans Fast E.P. not to execute the orders received when the identification of the payer and / or beneficiary, data or amount of the payment order are not correct and / or have reasonable doubts about the identity of the person issuing the orders in question.

Trans Fast will inform the payer that the conversations derived from the service of the Payment Institution may be recorded, and / or register all the communications and transactions that are maintained due to the use of the Remote Services.

The Originator may obtain a copy of the content of the communications for free, however, the Originator may demand that the procedure be carried out through a medium different from that used by Trans Fast, EP; however, the disproportionate costs resulting from your choice will be borne by the Originator.

Customer Service Department:

In case of any query, complaint or claim of any kind with the service, the Originator may formulate it in writing by contacting any of the offices of the Network of Authorized Agents or the Customer Service Department (SAC) of Trans-Fast , EP through the following means:

Main Office of Madrid:

In person or by mail:

C / Batalla del Salado, 25

CP: 28045 Madrid

Phone: 91 527 85 58

By email: sac@transfastspain.com

Through the web portal: www.trans-fast.eu

In cases where the CLIENT wishes to make a claim for the service provided and has provided all the necessary data to make his claim, TransFast, E.P. will resolve the same no later than fifteen (15) business days after receipt of the claim.

In exceptional situations, if a response can not be offered within fifteen (15) business days for reasons beyond the control of Trans Fast, EP, the latter must send a provisional response, stating clearly the reasons for the delay of the answer to the claim and specify the period in which the Originator of the payment services will receive the definitive answer. In any case, the deadline for receiving the definitive answer will not exceed one (01) month.

Right of withdrawal:

It will be expressly established if the right of withdrawal is applicable, the exercise of which, as the case may be, will be carried out as indicated in this clause. This right shall be applicable exclusively to the Originator (client) considered Consumer.

For the Trans Fast On Line System Service Provider, he / she will have a period of fourteen calendar days, starting from the day of the contracting date, to be able to desist from the service without needing to indicate the reasons and without any penalty, revoking by therefore the consent granted in the formalization.

The Bidder wishing to exercise the right of withdrawal must, before the end of the term, send a letter by registered mail with acknowledgment of receipt to the Customer Service Department at the address previously provided.

DEPARTMENT OF MARKET AND CLAIMS CONDUCT:

In the second instance, in order to present the claim or complaint it is necessary to have previously addressed Trans Fast, EP., Proving having obtained an answer on the controversy or, otherwise, the course of one (01) month without answer (if you are a client ), or (02) two months (if you are not)

They may address the Department of Market Conduct and Claims of the Bank of Spain to:

In person or by mail:

Bank of Spain

C / Alcalá 48 28014 Madrid

Telephone: 900 54 54 54/91 338 8830

Schedule:

From Monday to Friday (except holidays in Madrid capital), telephone service from 8:30 a.m. to 5:00 p.m.

O Using a form in the Virtual Claims Office www.bde.es

To carry out the process electronically, it will be necessary for the interested party to have a valid digital certificate accepted by the Bank of Spain.

Term Resolution:

Consumer Claims: 90 days since the file is completed.

Claims of non-consumers: four months from the presentation.

Consultations: one month from the presentation.

Resolution of online litigation in consumer matters: (known as “ODR Regulation”)

The Originator of the money transfer service has the possibility of an alternative resolution of litigation as a result of a claim for the service provided.

For this, certain requirements must be met:

1. The parties may submit their claims, as well as how much documentation is necessary, online or not. In case the use by the parties of electronic means is not possible, the Bank of Spain must allow its presentation by any other means that allows the identification of the claimant.

2. At the moment in which the Bank of Spain before which a claim has been submitted receives all the documentation with the pertinent information in relation to it, after rectification in its case, it will immediately notify the parties indicating, for any medium that allows to have proof of this, the date in which said complete reception has taken place.

Duration of the procedure:

The result of the procedure must be disclosed to the parties within a maximum period of ninety (90) calendar days from the date of submission of the claim or, as the case may be, from the date on which the durable has received the complete and necessary documentation to process the procedure.

The European Consumer Center and public administrations with competence in the field of consumer protection will provide links between their websites and the website or websites of the European Commission containing the consolidated list of entities accredited and notified by the different Member states.

You can consult the website http://ec.europa.eu/odr interactive and multilingual for the resolution of disputes related to contractual obligations arising from contracts of sale or services provided on-line with consumers.

Resolution. Applicable law and jurisdiction.

These General Conditions will be governed by Spanish legislation. Any dispute will be resolved before the courts or tribunals that correspond to the autonomous communities of Spain.

SINGLE ANNEX. RETURN POLICY.

The Entity must complete and process the cancellation and reimbursement in the course of 72 hours (it is understood between business days (every day of the year except Sundays and holidays are international, national, autonomous or local), from the request of the elimination / cancellation, discounting, if necessary, the service charges for administrative expenses incurred.

If the CLIENT is not satisfied with the service provided, he / she may make a complaint or complaint, since the Entity has a Customer Service Area to which the customer is responsible for the resolution and resolution of complaints and claims presented by its CLIENTS, relationship with their legally recognized interests and rights.

How and when refunds are made:

Payment method: Credit / debit card

Type of refund: Ordinary refund on the same credit / debit card

Estimated refund time: Between 2 and 3 business days *

Payment method: Bank transfer

Type of reimbursement: Ordinary reimbursement in the same bank account

Estimated refund time: Between 2 and 3 business days after you send the request for cancellation of the service and the proof of the return request is verified. *

Payment method: Cash

Type of reimbursement: Ordinary reimbursement to the Client in the Main Office of the Entity, and / or bank transfer to the account of the payer opened in Spain holding the account.

Estimated refund time: Between 2 and 3 business days after you send the request for cancellation of the service and the proof of the return request is verified. *

* This period takes into account the processing of reimbursement by the Correspondent (Payer); which can be between 2 and 3 business days (every day of the year except Sundays and holidays are international, national, autonomous or local)

Applicable regulations:

Law 18/2018, of November 23, on payment services

Law 7/2017, of November 2, by which Spanish Directive 2013/11 / UE, of the European Parliament and of the Council, of May 21, 2013, regarding the alternative resolution of litigation in the matter, is incorporated into the Spanish legal system. of consumption.

Royal Decree 712/2010, of May 28, on the legal regime of payment services and payment institutions.

Order EHA / 1608/2010, of June 14, on transparency of the conditions and information requirements applicable to payment services.