Terms and Conditions
1. GENERAL PROVISIONS
1.1. These Terms and Conditions (hereinafter referred to as the "Terms") constitute a legally binding agreement between the Service Provider and the Customer regarding the use of payment services offered through the Website.
1.2. The Service Provider is a company FINAST Sp.z o.o., incorporated under the laws of the Republic of Poland, registered in the National Court Register (KRS) under number 0001164432, with tax identification number (NIP) 5214111567, and with its registered office at ul. JANA HEWELIUSZA, nr 11, lok. 811, kod 80-890, GDAŃSK, POLSKA (hereinafter referred to as the "Service Provider").
1.3. The Service Provider operates as a Small Payment Institution (Mała Instytucja Płatnicza — MIP/SPI) with registration number MIP 282/2025 and is supervised by the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego - KNF). The register of payment service providers is available at: https://e-rup.knf.gov.pl/index.html.
1.4. By accessing the Website www.finastpay.com (hereinafter referred to as the "Website") or using any of the Services, the Customer confirms that they have read, understood, and agree to be bound by these Terms.
1.5. The Customer shall review these Terms regularly, as the Service Provider may update them from time to time in accordance with Section 13. Additional terms may apply to specific services. If the Customer does not accept these Terms, they shall refrain from using the Services.
1.6. The Service Provider offers payment account services and the execution of domestic transfers. The Service Provider does not issue electronic money, handle cash, issue payment cards, operate ATMs, provide e-wallets, offer acquiring services, or execute international transfers.
1.7. These Terms are entered into solely for business purposes. The Customer confirms that it is acting within the scope of its business or professional activity and is not a consumer as defined under applicable laws.
2. DEFINITIONS
2.1. Account means a payment account opened by the Service Provider in the name of the Customer, used to hold funds and execute payment transactions.
2.2. Business Day means a day on which the Service Provider carries out its operations, as specified on the Website.
2.3. Customer means a business entity or merchant who has registered on the Website and to whom the Service Provider provides Services.
2.4. Commission Fee means the fee charged by the Service Provider for the provision of Services.
2.5. EU Member State means a member state of the European Union.
2.6. Payment Operation means a transfer, payment, or withdrawal initiated by the Customer.
2.7. Payment Order means an instruction given by the Customer to execute a Payment Operation.
2.8. Services means the execution of payment transactions, including the transfer of funds from a payment account held with the Service Provider to another payment service provider operating within the territory of the Republic of Poland.
2.9. Website means the internet domain owned and operated by the Service Provider through which the Services are offered.
2.10. Password means any authentication code created by the Customer or provided by the Service Provider to access the Account or authorize Services.
2.11. Payment Instrument means any personalized device or set of procedures agreed between the Customer and the Service Provider that the Customer uses to initiate a Payment Order.
3. SCOPE OF SERVICES
3.1. The Service Provider offers the following Services (hereinafter collectively referred to as the "Services"): opening and maintaining payment accounts for Customers; execution of domestic transfers in Polish złoty (PLN) and other currencies (subject to currency conversion); receiving funds to the Account.
Detailed descriptions of available Services are provided on the Website.
3.2. The Services are subject to continuous development and may change at the Service Provider's discretion.
3.3. In accordance with applicable regulations governing Small Payment Institutions (Mała Instytucja Płatnicza), the Service Provider provides the Services exclusively within the territory of the Republic of Poland.
3.4. The total amount of funds held in a Customer's Account shall not exceed the equivalent of EUR 2,000 (two thousand euro) at any time. If a transaction would cause the balance to exceed this limit, the Service Provider reserves the right to refuse or reverse such transaction.
3.5. The Service Provider monitors the average monthly value of payment transactions executed over any 12-month period. The Service Provider ensures that the average monthly value does not exceed the equivalent of EUR 1,500,000 (one million five hundred thousand euro) . The Service Provider reserves the right to suspend Services if this limit is approached or exceeded.
3.6. The Service Provider reserves the right to:
suspend (permanently or temporarily) the provision of Services to the Customer or to all customers;
impose limits on use and storage at its sole discretion;
remove content and suspend or terminate the Customer's access without liability.
3.7. The Customer may request a change to the limits by contacting the Service Provider in writing.
3.8. Client Funds Management.
3.8.1. Customer funds are held and transferred via a dedicated bank account maintained in accordance with the provisions of the Payment Services Act.
3.8.4. Customer funds do not constitute deposits and do not earn interest; are not covered by the deposit guarantee scheme (Bankowy Fundusz Gwarancyjny — BFG); are not used by the Service Provider for its own operations.
3.8.5. The Service Provider shall maintain appropriate internal records and controls to ensure proper tracking and reconciliation of Customer funds at all times.
3.8.6. The execution of payment transactions involving Customer funds is carried out without undue delay and in accordance with applicable law.
3.9. The Services are provided until the Agreement is terminated or suspended in accordance with these Terms.
3.10. The Service Provider is not liable for delays beyond its control. In the event of such delays, the Service Provider will inform the Customer and take steps to minimize the impact.
4. ACCOUNT OPENING AND MANAGEMENT
4.1. Application and Eligibility
4.1.1. To access the Services, the Customer must apply for an Account and provide all requested information accurately and completely.
4.1.2. The Customer confirms that it is the sole beneficial owner of the Account. Only one Account per Customer is permitted.
4.1.3. The Service Provider may refuse to open an Account without providing a reason.
4.2. Account Usage
4.2.1. The Account allows the Customer to deposit funds, execute domestic transfers, receive funds, and perform related operations.
4.2.2. The Customer must comply with applicable anti-money laundering (AML) and know-your-customer (KYC) requirements at the time of application and throughout the duration of the Agreement.
4.2.3. The Customer may authorize other persons to access the Account but remains fully responsible for their actions.
4.2.4. The Customer must keep Account information up to date and safeguard their login credentials.
4.3. Representations and Warranties
By applying for an Account, the Customer certifies and warrants that the Account opening does not violate any applicable laws; it is a legal entity duly organized and validly existing under the laws of its jurisdiction; it is authorized to act on behalf of the business entity it represents; the Account is used only for lawful purposes and at its own risk; it is solely responsible for any tax obligations arising from the use of the Services; it is established or resides in the territory of the Republic of Poland; it is acting within the scope of its business or professional activity and is not a consumer as defined under applicable consumer protection laws.
4.4. Additional Information Requests
The Service Provider may request additional information or documentation at any time. If the Customer fails to provide such information, the Service Provider may suspend or terminate the Account.
5. PAYMENT TRANSACTIONS
5.1. Authorized Transfers
5.1.1. Transfers may be executed:
to other users of the Website;
to bank accounts held with payment service providers operating within the territory of the Republic of Poland;
to other electronic payment platforms operating within the territory of the Republic of Poland.
5.1.2. Transfers may be made in various currencies. Currency exchange rates are displayed before confirmation.
5.2. Execution Times
5.2.1. For transactions in Polish złoty (PLN) and for euro transactions within Poland, funds will be credited to the recipient's payment service provider in accordance with standard domestic transfer timelines, as specified on the Website.
5.2.2. These time limits do not apply to transactions where incorrect data is provided, or to cases involving AML/CFT investigations.
5.3. Incorrect Payment Orders
5.3.1. If the Customer provides incorrect recipient details and the Payment Order is executed accordingly, the Service Provider is deemed to have fulfilled its obligations. The Customer must contact the recipient directly.
5.3.2. If a Payment Order has not yet been executed, the Customer may request correction.
5.3.3. If funds cannot be credited due to errors in the Payment Order, the Service Provider will take reasonable measures to resolve the issue.
5.4. Wrongly Credited Funds
5.4.1. If funds are credited to the Account by mistake, the Customer must notify the Service Provider immediately, no later than 1 Business Day after becoming aware.
5.4.2. The Customer has no right to dispose of such funds and irrevocably authorizes the Service Provider to debit them from the Account. If funds are insufficient, the Customer must repay the amount within 3 Business Days.
5.5. Payment Order Processing
5.5.1. Payment Orders are processed in a priority-based queue. Execution occurs immediately or as preceding orders are completed.
5.5.2. A Payment Order is considered received on the day it is submitted, or on the next Business Day if submitted outside Business Hours.
5.5.3. The Service Provider may refuse to execute a Payment Order if there are reasonable doubts about its authenticity or legitimacy, or if the Customer fails to provide documentation regarding the source of funds.
5.5.4. If funds in the Account are insufficient, the Payment Order will be cancelled. The Customer may resubmit the order once sufficient funds are available.
5.5.5. The Service Provider is entitled to involve third parties (e.g., correspondent banks) to execute Payment Orders. The Service Provider is not liable for the actions of such third parties.
5.6. Return of Funds
5.6.1. If funds are returned due to incorrect data or a closed recipient account, the returned amount is credited to the Account. Fees for the original transfer are not refunded.
5.6.2. The Service Provider may return suspicious incoming transactions and charge applicable fees.
5.7. Limits and Modifications
5.7.1. The Customer may request changes to transfer limits, which will be implemented after additional verification. The Service Provider reserves the right to limit such limits at any time.
5.7.2. All confirmations, orders, and notifications made through the Website by logging into the Account are treated as legally binding.
6. FEES AND CHARGES
6.1. Fees for Services are published on the Website in the "Fees" section and are considered part of these Terms, unless otherwise agreed in writing.
6.2. The Service Provider reserves the right to change fees at any time without prior notice. Updated fees will be published on the Website.
6.3. Fees are deducted from the Account immediately after the corresponding operation is completed.
6.4. If performance of a Service requires additional work or causes unforeseen expenses, the Service Provider may determine special fees or increase the standard fees accordingly.
6.5. If the Account balance is insufficient to cover applicable fees, the Service Provider may refuse to execute the operation.
6.6. Currency conversion fees may apply. Exchange rates are displayed on the Website and may change without notice.
6.7. All fees are non-refundable.
6.8. Late payments accrue interest at 0.2% per day of the overdue amount.
6.9. Payment of penalties does not release the Customer from fulfilling their obligations.
7. AUTHORIZATION OF PAYMENT OPERATIONS
7.1. Authorization Process
7.1.1. A Payment Operation is considered authorized by the Customer when the Customer gives consent through the Website using the Password or other authentication methods provided by the Service Provider.
7.1.2. The Customer must take all reasonable steps to keep the Payment Instrument and Password safe and must not disclose them to third parties.
7.1.3. The Customer must notify the Service Provider without undue delay, and in any event no later than 1 Business Day, upon becoming aware of the loss, theft, misappropriation, or unauthorized use of the Payment Instrument or Password.
7.2. Unauthorized Transactions
7.2.1. If the Customer denies having authorized a Payment Operation, the Service Provider bears the burden of proving that the operation was authenticated, properly recorded, and not affected by technical issues.
7.2.2. The Customer bears losses incurred due to unauthorized Payment Operations if the Customer acted dishonestly, with gross negligence, or intentionally failed to comply with security obligations under these Terms.
7.2.3. In all other cases, the Service Provider is liable for unauthorized Payment Operations.
7.3. Reporting Unauthorized Transactions
7.3.1. The Customer must notify the Service Provider of any unauthorized or incorrectly executed Payment Operation without undue delay, and in any event no later than 13 months after the debit date of the operation.
7.3.2. The Customer shall check information about Payment Operations performed on the Account at least once a month.
8. ACCOUNT SUSPENSION, BLOCKING, AND TERMINATION
8.1. Duration
The Account remains valid until cancelled by the Customer or terminated by the Service Provider in accordance with these Terms.
8.2. Blocking of the Payment Instrument
8.2.1. The Service Provider may block the use of the Payment Instrument (including the Password and Account access) for the following reasons:
reasonable security concerns;
suspicion of unauthorized or fraudulent use;
suspicion that the Payment Instrument is compromised;
increased risk of the Customer's insolvency.
8.2.2. The Service Provider will inform the Customer of the blocking before the blocking takes effect, or immediately after, unless such notification would compromise security or is prohibited by law.
8.2.3. The Service Provider will unblock the Payment Instrument or replace it once the reasons for blocking cease to exist.
8.3. Grounds for Suspension or Termination by the Service Provider
The Service Provider may suspend or terminate the Account and this Agreement at any time, with or without prior notice, in the following circumstances:
violation of these Terms or applicable laws;
failure to meet AML/KYC requirements;
risk of reputational harm, losses, or monetary sanctions to the Service Provider;
incomplete or incorrect payment instructions;
insufficient funds in the Account;
suspicion of money laundering, terrorist financing, fraud, or other illegal activity;
bankruptcy or insolvency of the Customer;
failure to pay fees;
dispute over Account ownership or funds;
threatening or aggressive behavior toward Service Provider staff;
suspected violation of international sanctions;
failure to provide required information or documentation;
inactivity for an extended period;
unauthorized or fraudulent use of funds;
legal requirement from a court or supervisory authority.
8.4. Immediate Suspension
The Service Provider may immediately suspend Services without prior notice if there is reasonable suspicion of unauthorized access, hacking, or breach of applicable law.
8.5. Termination by the Service Provider Without Cause
The Service Provider may terminate the Agreement for any reason by giving 30 days' prior notice.
8.6. Termination by the Customer
The Customer may terminate the Agreement at any time by contacting the Service Provider. The Agreement will terminate no later than 30 days after such notification.
8.7. Termination Fee
If the Customer terminates the Agreement within 6 months of Account activation, the Service Provider may apply a termination fee as notified to the Customer.
8.8. Consequences of Termination
Suspension or termination does not relieve the Customer from any obligations that arose prior to termination. Any outstanding fees or debts must be paid immediately.
9. DATA PROTECTION AND CONFIDENTIALITY
9.1. The Service Provider processes personal data to the extent necessary to provide the Services, in accordance with the Privacy Policy available on the Website.
9.2. The Service Provider maintains strict confidentiality standards and does not disclose customer information unless authorized by the Customer or required by law.
9.3. The Service Provider may record telephone conversations for quality assurance, verification, and training purposes.
9.4. Information transmitted over the internet is not guaranteed to be fully secure. Customers provide information at their own risk.
9.5. Personal data and transaction history are retained as required by law, including AML obligations. Closing an Account does not automatically result in data deletion, unless the Customer exercises their legal rights.
9.6. The Customer must carefully review the Privacy Policy before using the Services.
10. COMPLAINTS AND DISPUTE RESOLUTION
10.1. Filing a Complaint
10.1.1. The Customer may file a complaint regarding the Services by contacting the Service Provider via email at support@finastpay.com or through other contact details published on the Website.
10.1.2. The complaint must include:
Customer identification details (name, registered address, Account number);
detailed description of the issue;
transaction details (if applicable, including date, amount, and recipient);
supporting documentation (if any);
proposed resolution.
10.2. Response Timeline
10.2.1. The Service Provider will investigate and respond to the complaint within 15 Business Days of receipt.
10.2.2. In complex cases where a response cannot be provided within 15 Business Days, the Service Provider will send a provisional response explaining the reasons for the delay and specifying the expected deadline for the final response. The final response shall be provided within 30 Business Days of receipt of the complaint.
10.3. Dispute Resolution
10.3.1. Any disputes arising from or in connection with these Terms shall first be resolved through good-faith negotiations between the Service Provider and the Customer.
10.3.2. If no resolution is reached within 30 days from the date of written notice of dispute, any controversy or claim arising out of or relating to this Agreement shall be finally settled by binding arbitration at the Polish Chamber of Commerce (Polska Izba Gospodarcza).
10.3.3. The venue of any arbitration commenced under this section shall be in Warsaw, Poland. The arbitration shall be conducted in English before a single arbitrator who is a practicing commercial lawyer licensed in Poland.
10.3.4. The arbitrator's award shall be final and binding on the Parties, and judgment upon the award may be entered in any court having jurisdiction thereof.
10.4. Applicable Law
10.4.1. These Terms are governed by the laws of the Republic of Poland, without regard to its conflict of laws principles.
10.4.2. The United Nations Convention on Contracts for the International Sale of Goods (CISG) shall not apply to this Agreement.
11. LIABILITY
11.1. General Liability
Each Party is liable for fines, forfeits, and direct losses incurred by the other Party as a result of breach of these Terms.
11.2. Service Provider Liability
11.2.1. The Service Provider is liable for direct damages caused by a direct and material breach of these Terms, including breach of terms and time limits for execution of payment operations, and only for damages foreseeable at the time of the breach.
11.2.2. The Service Provider is not liable for:
loss of profit, loss of revenue, or loss of reputation;
indirect or consequential damages;
errors, delays, or failures caused by third parties (including banks and payment systems);
consequences arising from Website disruptions beyond the Service Provider's control;
unauthorized transactions resulting from the Customer's failure to protect login credentials;
taxes or duties payable by the Customer;
goods and services purchased using the Account.
11.2.3. The Service Provider does not guarantee uninterrupted Website operation and is not liable for temporary disruptions due to maintenance or factors beyond its control.
11.3. Customer Liability
11.3.1. The Customer is fully liable for the accuracy of data, orders, and documents submitted to the Service Provider.
11.3.2. The Customer indemnifies the Service Provider from all claims, expenses, and fines arising from the Customer's breach of these Terms or applicable laws.
11.3.3. The Customer bears losses from unauthorized payment operations if they acted dishonestly, with gross negligence, or intentionally failed to comply with security obligations.
11.3.4. If the Customer's actions result in losses, fines, or legal costs for the Service Provider, the Service Provider may debit these amounts from the Account or pursue recovery through the courts.
11.4. Force Majeure
11.4.1. Force Majeure means any event or circumstance beyond the reasonable control of the affected Party that could not have been foreseen or prevented by the affected Party's reasonable efforts, including but not limited to: natural disasters, war, terrorism, civil unrest, strikes of a general nature, changes in law or governmental orders, failures of public infrastructure, cyberattacks, and actions of third-party payment systems or correspondent banks.
11.4.2. Exclusions. Force Majeure does not include: financial difficulties of the affected Party, equipment failures that could have been prevented by reasonable maintenance, strikes limited to the affected Party's employees, or errors of the affected Party's employees or contractors.
11.4.3. Consequences. A Party is relieved from liability for failure to perform its obligations to the extent caused by Force Majeure, provided that the affected Party notifies the other Party in writing within 10 calendar days of becoming aware of the event and takes all reasonable steps to mitigate its effects.
11.4.4. Termination. If a Force Majeure event continues for more than 30 consecutive days, either Party may terminate the Agreement by giving 5 Business Days' written notice.
12. PROHIBITED ACTIVITIES
The Customer is prohibited from:
violating the Service Provider's intellectual property rights;
providing false, misleading, or incomplete information;
refusing to provide requested information;
transferring or receiving illegally obtained funds;
refusing to cooperate in investigations;
spreading viruses or disrupting the Website;
engaging in illegal gambling, weapons, drugs, or prohibited goods trading;
providing financial services without authorization;
conducting activities prohibited by law or contrary to public order.
13. AMENDMENTS TO THE TERMS
13.1. The Service Provider may unilaterally amend these Terms to reflect:
new business, legal, or regulatory requirements;
market conditions or cost changes;
corrections or clarifications.
13.2. The Service Provider shall notify the Customer of amendments to these Terms by publishing them on the Website at least 10 days prior to their effective date (or longer if required by applicable law).
13.3. If the Customer continues to use the Services after the amendment enters into force, it shall constitute the Customer's consent to such amendments.
13.4. If the Customer does not agree with the amendments, they may terminate the Agreement by providing written notice to the Service Provider no later than 3 Business Days before the intended termination date.
13.5. Advance notice is not required for amendments that result from changes in law, reduce costs, introduce new services, place the Customer in a more favorable position.
14. MISCELLANEOUS
14.1. The Customer may not assign this Agreement without the prior written consent of the Service Provider. The Service Provider may assign its rights and obligations without notice.
14.2. The Service Provider may outsource any part of the Services to third parties in accordance with applicable law.
14.3. These Terms are governed by the laws of the Republic of Poland.
14.4. If any provision is found invalid, the remaining provisions remain in full force and effect.
15. CONTACT INFORMATION
15.1. The Customer may contact the Service Provider via email at support@finastpay.com or through other contact details published on the Website.
15.2. The Customer must maintain at least one valid email address and phone number and notify the Service Provider of any changes without undue delay.
15.3. The Customer should regularly check their communication channels for updates.
15.4. The Customer must immediately notify the Service Provider of any loss or theft of identification documents or Account credentials.