Terms & Conditions
Globe Capital Fincorp Ltd registered address 20-22 Wenlock Road, London N1 7GU
1.1. Globe Capital Fincorp offers the following services: a) opening of an accounts; b) incoming and outgoing transfers in various currencies, including SEPA and SWIFT payments; c) eWallet services, including loading of eWallets through outside parties; d) merchant accounts for collection of payments; e) payments by card; f) cash withdrawals via ATM.
2.1. Application means a mobile application for Account management, installed and used in mobile devices. 2.2. Account means an account opened within Globe Capital Fincorp in the name of the Client. 2.3. Business Day means a day, when Globe Capital Fincorp provides its services, set by Globe Capital Fincorp. Globe Capital Fincorp can set different business days for different services. 2.4. Client means a natural (private), corporate or merchant who has registered in the System and to whom Globe Capital Fincorp provides services to. 2.5. Consumer means a natural person who buys Services for his/her personal use. 2.6. Electronic Money means money credited/ transferred to and held on Account for executing Payment Services via the System. 2.7. Payment Operation means a money transfer, payment or withdrawal initiated by a payer or a payee. 2.8. Payment Order means an order from the Client for the execution of the Payment Operation. 2.9. Payment Service means: (i) execution of payment transactions, including transfers of funds on a payment account with the payment service provider of the payment service user or with another payment service provider: execution of direct debits, including one-off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders; and/ or (ii) execution of payment transactions where the consent of the payer to execute a payment transaction is given by means of any telecommunications terminal equipment, digital or it device and the payment is made to the telecommunications network or it system operator, acting only as an intermediary between the supplier of the goods or services and the payment service user; and/ or (iii) issuing and/or acquiring of payment instruments; and/ or (iv) money remittance; and/ or (v) services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account; and/ or (vi) services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account.
2.10. Payment Instrument means any payment instrument which allows to link to the Account and perform payment transfers using this payment instrument. 2.11. Globe Capital Fincorp Account means an account opened in the System in the name of the Client and used to keep funds and make payment transfers. 2.12. Services means a service of issuance and redemption of Electronic Money, Payment Services and other services provided by Globe Capital Fincorp. 2.13. Online Account means the result of registration in the computer system or Application, during which personal data of the registered Client is saved, a login name is assigned and the rights of the Client in the System are defined. 2.14. System means a software solution on Globe Capital Fincorp web page and Application used for provision of Globe Capital Fincorp services. 2.15. Password (Passwords) means any code of the Client created in the System or provided to the Client by Globe Capital Fincorp for the access to the Online Account and/ or Account or initiation and management of separate services provided by Globe Capital Fincorp and/ or initiation, authorization, implementation, confirmation and reception of Services. 2.16. Party means Globe Capital Fincorp or the Client (jointly known as Parties).
- Registration in Globe Capital Fincorp system
3.1. The Client who wants to start using the System has to go through the registration process. Globe Capital Fincorp onboard the Client remotely. The detailed description of the Client’s identification procedure is provided within the Rules on Anti-Money Laundering and Terrorist Financing Prevention of Globe Capital Fincorp. 3.2. The Client obligates to ensure security and secrecy of the Password and the Unique Identifier granted to the Client. In case the Password becomes (or possibly becomes) known to the third parties, the Client obligates to immediately change the Password and/or Unique Identifier. 3.3. The Client obligates to ensure security and secrecy of the details about his/ hers Payment Instrument, including payment card number and Card Verification Value (CVV) code. 3.4. While registering in the System, the Client obligates to provide correct and complete data about himself/ herself during the registration process. The Client obligates to immediately, however, no later than 1 Business Day, inform Globe Capital Fincorp about any change of information and documents provided to Globe Capital Fincorp during the registration process, including, but not limited to, change of the e-mail, phone, information on the representative and etc. 3.5. Globe Capital Fincorp has the right to request the Client additional information and/ or documents related to the operations of the Client and to request the Client to fill such information periodically. 3.6. If the Client does not provide requested information and/ or documents within the terms specified by Globe Capital Fincorp, Globe Capital Fincorp has the right to suspend the Client registration process. 3.7. The Client might enter into legal relations with Globe Capital Fincorp directly and/ or through the Client’s Representatives.
- Payment Services and account Opening Rules
4.1. Account allows the Client to deposit, transfer, keep funds in the Account for transfers, local and international money transfers executions, contribution payments, also receive money to the Account, settle for goods and services, and perform other operations directly related to money transfers. 4.2. Money held on the Client’s Account is considered Electronic Money which Globe Capital Fincorp issues after the Client transfers or deposits money to his/ her Account. After the Client deposits/ transfers money to his/ her Account and Globe Capital Fincorp receives the money, Globe Capital Fincorp credits it
To the Client’s Account, at the same time issuing Electronic Money at the nominal value. The Electronic Money is credited to and held on the Client’s Account. 4.3. The specific method of depositing/ transferring funds to the Account is selected by the Client in the Online Account by selecting the “Funding instructions” section, which contains instructions for depositing money for each method of payment. 4.4. The nominal value of Electronic Money coincides with the value of money deposited/ transferred to the Account (after deduction of standard Commission Fee appropriate for a particular payment method, if applicable). 4.5. Electronic Money held on the Account is not a deposit and Globe Capital Fincorp does not, in any circumstances, pay any interest for Electronic Money held on the Globe Capital Fincorp Account and does not provide any other benefit associated with the time period the Electronic Money is stored. 4.6. At the request of the Client, Electronic Money held on his/ her Account shall be redeemed at their nominal value at any time, except for cases set forth in the General Terms. 4.7. The Client submits the request for redemption of Electronic Money by generating a Payment Order to transfer Electronic Money from his/ her Account to any other account specified by the Client or withdrawing Electronic Money from his/ her Account by other methods supported by Globe Capital Fincorp and indicated in the System. Globe Capital Fincorp has the right to apply limitations for redemption of Electronic Money. 4.8. No specific conditions for Electronic Money redemption that would differ from the standard conditions for transfers and other Payment Operations performed on the Account shall be applied. The amount of redeemed/ transferred Electronic Money is chosen by the Client. 4.9. No additional fee for Electronic Money redemption is applied. In the event of redemption of Electronic Money, the Client pays the usual Commission Fee for a money transfer or withdrawal which depends on the method of Electronic Money transfer/ withdrawal chosen by the Client. Standard Globe Capital Fincorp Commission Fees for money transfer/ withdrawal are applied. 4.10. Provided that the Client terminates the General Terms and agreements concluded, and applies with the request to close his/ her Account and delete his/ her Online Account from the System, or Globe Capital Fincorp terminates the provision of Services, money held on the Client’s Account shall be transferred to the bank account or to the account within other electronic payment system indicated by the Client. Globe Capital Fincorp has a right to deduct first the funds that belongs to Globe Capital Fincorp (fees for Services provided by Globe Capital Fincorp and other unpaid amounts, including but not limited to, fines and damages incurred by Globe Capital Fincorp due to the breach of the General Terms or other obligations committed by the Client, which have been imposed by international payment card organizations, other financial institutions and/ or state institutions). In the event of a dispute between Globe Capital Fincorp and the Client, Globe Capital Fincorp has the right to detain money under dispute until the dispute is resolved. 4.11. Globe Capital Fincorp reserves the right not to open an account and/ or close an account without providing a reason.
- Usage of the Account
5.1. The Client may manage the Account via the internet by logging in to his/her Online Account with his/her login name and Password or via Application. 5.2. Payment Transfers from the Client’s Account may be executed: 5.2.1. To another user of the System; 5.2.2. to the Lithuanian, EU and foreign bank accounts (except for banks in foreign countries to which the Payment Transfers are forbidden; Globe Capital Fincorp informs the Client about such countries in the System); 5.2.3. To accounts in other electronic payment systems specified in the System;
5.2.4. To other debit and credit cards using card to card payment services. 5.3. Funds may be transferred to the Account in different currencies. The Client will be shown the currency exchange rate valid at the moment of conversion before making any transaction in a different currency within the System. The exchange rate is constantly updated on the System. 5.4. A bank or another electronic money transfer system may apply fees for transferring money from/ to Client’s Account to the Client’s bank account, card or a payment account of another electronic payment system. 5.4.1. Globe Capital Fincorp may charge additional fees if received funds have to be converted to another currency before it is possible to credit them to the Client’s account. 5.5. Fees for the Services of Globe Capital Fincorp are deducted from the Client’s Account. In case the amount of money on the Account is less than the amount of the Payment Transfer and the price of the Service of Globe Capital Fincorp, the Payment Transfer is not executed. 5.6. In case the Client indicates incorrect data of the recipient and the Payment Order is executed according to the data provided by the Client (e.g. the Client indicates a wrong account number), it shall be considered that Globe Capital Fincorp has fulfilled its obligations properly and shall not repay the transferred amount to the Client. The Client shall directly contact the person who has received the transfer regarding the return of the money. 5.7. The Client is obliged to provide a Payment Order for the execution of the Payment Transaction in accordance with the instructions specified in the System and valid at the moment of transfer. 5.8. If the Payer submits an incorrect Payment Order or indicates incorrect data for the Payment Transfer, but the Payment Transfer has not been executed yet, the Client may request to correct the Payment Order. 5.9. If Globe Capital Fincorp cannot credit funds indicated in the Payment Order to the recipient due to errors of the Client made in the Payment Order, the Payment Order may be cancelled and funds may be returned to the Client if it is technically possible. 5.10. In all cases, when Globe Capital Fincorp receives a Payment Order but funds cannot be credited due to errors in the Payment Order or insufficiency of information, Globe Capital Fincorp undertakes all possible measures to track the Payment Operation in order to receive accurate information and execute the Payment Order. 5.11. The Client, having noticed that money has been credited to his/ her Account by mistake or in other ways that have no legal basis, is obliged to notify Globe Capital Fincorp about it immediately, however, no later than within 1 Business Day after noticing the wrongly credited money. The Client has no right to dispose of money that does not belong to him/ her. In such cases Globe Capital Fincorp has the right and the Client gives an irrevocable consent to deduct the money from the his/ her Account without the Client’s order. If the amount of money on the Client’s Account is insufficient to debit the money credited by mistake, the Client unconditionally commits to repay Globe Capital Fincorp the money credited by mistake in 3 (three) Business Days from the receipt of such request from Globe Capital Fincorp. 5.12. The Client has the right to change the limits on Payment Transfers for the Account by completing an additional Online Account confirmation in accordance with the procedure established in the System and setting other limits for transfers by completing an additional confirmation. The Client may set the limits at his own discretion, however Globe Capital Fincorp has the right to limit the size of the limits at any time. The Client may check the applied limits in the System. The Client will be notified about the limit’s entry into force by e-mail and through the System. 5.13. The Client may check the Account balance and history by logging in to the Online Account or the Application. The Client can also find information about all applied fees and other fees deducted from the Account of the Client during a selected period of time. 5.14. The Client’s confirmations, orders, requests, notifications and other actions performed through websites of third persons or other places by logging in to his/ her Account and identifying himself/ herself in this way are treated as conclusion of an agreement.
5.15. The management of the Account via the internet: 5.15.1. In order to execute a Payment Operation via the internet, the Client must fill in a Payment Order in the System and submit it for execution, electronically confirming in the System his/ her Consent to execute the Payment Order. 5.15.2. Submission of the Payment Order in the System is an agreement of the Client to execute the Payment Operation and cannot be cancelled (cancellation of the Payment Order is only possible until the execution of the Payment Order has been started – status of the Payment Order and possibility of cancellation are visible on the Online Account of the Client). 5.15.3. When filling in the Payment Order, the Client can enter a future payment date which may be up to 30 days ahead. If the amount of money on the Account of the Client is sufficient on the day specified by the Client, the Payment Order will be executed. A transfer to another Account shall be executed at the beginning of the specified day (00:00 AM in accordance to the time zone of the server GMT+2). A transfer to a bank account is executed within terms specified in the System. 5.15.4. In case the amount of money on Account of the Client is insufficient to execute the Payment Transfer, the Payment Transfer is cancelled. The Client can file in the Payment Order again once the amount of money on Account becomes sufficient. If the amount of money on Account is insufficient in one currency, but there is a sufficient amount of money in another currency, the Payment Transfer shall not be executed until the Client converts other currency to the currency of the payment (except for cases, when the Client has ordered an automatic currency exchange feature or the transfer is intended for paying for goods or services via System). 5.16. The Payment Order is considered received (calculation of the time period of execution of such Payment Order starts) on the day of its reception, or, if the moment of reception of the Payment Order is not a Business Day, the Payment Order is considered received on the nearest Business Day. 5.17. The Payment Order (outside the System) which was received by Globe Capital Fincorp on a Business Day but not on business hours set by Globe Capital Fincorp, is considered received on the nearest Business Day of Globe Capital Fincorp. 5.18. All of the Payment Orders that the System receives are placed in a priority-based queue. Subsequently, Payment Orders are executed according to the queue, with execution occurring either immediately or as soon as preceding Payment Orders are completed. 5.19. Globe Capital Fincorp has the right to record and store any Payment Orders submitted by any of the means agreed on with Globe Capital Fincorp, and to record and store information about all Payment Operations performed by the Client or according to Payment Orders of the Client. Records mentioned in the present clause may be submitted by Globe Capital Fincorp to the Client and/ or third persons, who have the right to receive such data under the basis set forth in the legislation, as evidence confirming the submission of Payment Orders and/ or executed Payment Operations. 5.20. Payment Orders submitted by the Client shall comply with requirements for submission of such Payment Order and/ or content of the Payment Order set by the legal acts or by Globe Capital Fincorp. Payment Orders submitted by the Client shall be formulated clearly, unambiguously, shall be executable and contain clearly stated will of the Client. Globe Capital Fincorp does not undertake responsibility for errors, discrepancies, repetitions and/ or contradictions in Payment Orders submitted by the Client, including but not limited to, correctness of requisites of the Payment Order submitted by the Client. If the Payment Order submitted by the Client does not contain enough data or contains deficiencies, Globe Capital Fincorp, regardless of the nature of deficiencies in the Payment Order, can refuse to execute such Payment Order, or execute it in accordance with data given in the Payment Order. 5.21. Globe Capital Fincorp has the right to refuse to execute a Payment Order in case of a reasonable doubt that the Payment Order has been submitted by the Client or an authorized representative of the Client, Payment Order or the submitted documents are legitimate. In such cases, Globe Capital Fincorp has the right to demand from the Client to additionally confirm the submitted Payment Order and/ or submit documents confirming the rights of persons to manage the funds held on the Account or other
documents indicated by Globe Capital Fincorp in a way acceptable to Globe Capital Fincorp at expense of the Client. In cases mentioned in this point, Globe Capital Fincorp acts with the aim to protect legal interests of the Client, Globe Capital Fincorp and/ or other persons, thus, Globe Capital Fincorp does not undertake the responsibility for losses which may arise due to the refusal to execute the submitted Payment Order. 5.22. Before executing the Payment Order submitted by the Client, Globe Capital Fincorp has a right to demand from the Client documents which prove the legal source of money related to the Payment Order. In case the Client does not submit such documents, Globe Capital Fincorp has the right to refuse to execute the Payment Order of the Client. 5.23. Globe Capital Fincorp has the right to involve third parties to partially or fully execute the Payment Order of the Client, if the Client’s interests and/ or the essence of the Payment Order require so. In the event that the essence of the Payment Order of the Client requires sending and executing the Payment further by another financial institution, but this institution suspends the Payment Order, Globe Capital Fincorp is not responsible for such actions of the financial institution, but makes attempts to find out the reasons for the suspension of the Payment Order. Globe Capital Fincorp has the right to suspend and/ or terminate the execution of the Payment Order of the Client, if required by law or in case it is necessary for other reasons beyond control of Globe Capital Fincorp. 5.24. In case Globe Capital Fincorp has refused to execute the Payment Order submitted by the Client, Globe Capital Fincorp shall immediately inform the Client thereon or create necessary conditions for the Client to get acquainted with such notification, except when such notification is technically impossible or forbidden by legal acts. 5.25. Globe Capital Fincorp shall not accept and execute Payment Orders of the Client to perform operations on the Account of the Client if funds on the Account are arrested, the right of the Client to manage the funds is otherwise legally limited, or in case operations are suspended by applicable legal acts. 5.26. If money transferred by the Payment Order is returned due to reasons beyond the control of Globe Capital Fincorp (inaccurate data of the Payment Order, the account of the recipient is closed, etc.), the returned amount is credited to the Account of the Client. Fees paid by the Payer for the Payment Order execution are not returned, and other fees related to the returning of money and applied to Globe Capital Fincorp can be deducted from the Account of the Client. 5.27. Globe Capital Fincorp has the right to return to the issuing side any incoming transaction, which appears suspicious in any way, and charge the applicable fees from the Client’s account. The fees may include the standard charges for a wire transfer or a SWIFT confirmation procedure to identify the account number of the issuer and allocate the returned funds there. The fee may be higher depending on the destination, currency and, if applies, foreign currency conversion. 5.28. The Client agrees that Globe Capital Fincorp will transfer Personal Data of the Client to persons directly related to the execution of the Payment Operation, such as international payment card organizations, companies processing information about payments by payment cards, the provider of Payment Services of the recipient, the operator of the payment system for execution of the Payment Operation, intermediaries of the provider of Payment Services of the Client and the recipient. 5.29. If necessary and/ or required by institutions of other states, Globe Capital Fincorp has the right to receive additional information (e.g. name and surname/ title of the Payee, a payment code) required for the appropriate execution of the Payment Order. 5.30. When executing Payment Orders initiated by the Client, Globe Capital Fincorp shall transmit to the Payment Service provider the information (including Personal Data of the Client) specified by the Client in the Payment Order. 5.31. In case of the death of the Client (where a client is a natural person), the Account of the Client will be closed and the funds held by the Client will be transferred to the account indicated by the successor.
The actions indicated in this Clause will be implemented following the procedure provided under the applicable laws. 5.32. Globe Capital Fincorp will charge all appropriate fees related to the closure of the Account. If no successor claims the remainder of the funds (i.e. it is not indicated where the funds should be transferred) in the Account within 12 months, Globe Capital Fincorp will also charge the funds in the Account with a 0.15% daily fee. 5.33. The Client agrees that Globe Capital Fincorp, when providing Services, may use services by the counterparties (including but not limited to, banks, electronic money institutions, payment institutions and other financial institutions). Globe Capital Fincorp is entitled to attract the counterparties for the provision of Services without prior agreement with the Client. 5.34. Certain clients may be subject to the advance payment requirement which allows Globe Capital Fincorp a better protection against possible risks and expenses associated with particular Accounts. Globe Capital Fincorp notifies such Clients of the requirement and the advance payment is only imposed with prior agreement by the Client. 5.34.1. Advance payment is kept for 45 calendar days after the Account has been closed. If additional expenses associated with the Account emerge after the Account has been closed, Globe Capital Fincorp may retain the advance payment longer than 45 calendar days. Globe Capital Fincorp also has a right to charge emerged expenses from the advance payment. If the amount of the advance payment is not enough, Globe Capital Fincorp might claim other expenses appeared from the activity of the Client in the court. 5.34.2. Globe Capital Fincorp may release the advance payment before the Account is closed. 5.34.3. Globe Capital Fincorp does not pay any interest on advance payment.
6.1. Pricing of Services (the Pricing) is provided on www.globecapitalfincorp.com/en/fees and is considered part of these General Terms. Globe Capital Fincorp is entitled to unilaterally amend the Pricing and to change the amount, frequency or time frames for payment of any fees and/ or charges relating to the Services provided. Globe Capital Fincorp shall notify the Client of these changes 5 Business Days before the new/ amended Pricing takes effect unless the legislation of the Republic of Lithuania stipulates another period of time. 6.2. The Client confirms that he/ she has carefully acquired with the Pricing and payment terms that are applied to and relevant to the Client. 6.3. Fees payable by the Client will be deducted from the Account balance. 6.4. All of the fees are non-refundable. 6.5. All the fees to Globe Capital Fincorp are paid in EUR. In case there is not a sufficient amount of funds in fiat currency and/ or EUR within the Account, Globe Capital Fincorp arranges exchange of the required amount of funds to fiat currency and in EUR. Globe Capital Fincorp has a right to exchange money to fiat and necessary currency by applying currency exchange rate published within the System. In case there are Electronic Money on the Account and also funds in other currency than EUR, Globe Capital Fincorp might choose whether to exchange Electronic Money into fiat or funds in another currency than EUR into EUR. 6.6. The Client commits to ensure that there will be sufficient amount of money on his/ her Account to pay/ deduct all the fees payable to Globe Capital Fincorp. If the Client does not pay Globe Capital Fincorp for provided Services in due term, he/ she pays 0.2 per cent from the amount for each day overdue.
- Prohibited actions
7.1. The Client is prohibited to: 7.1.1. Violate the rights of Globe Capital Fincorp to trademarks, copyrights, commercial secrets and other intellectual property rights; 7.1.2. Provide false, misleading or incorrect information; 7.1.3. Refuse to provide information requested by Globe Capital Fincorp; 7.1.4. Transfer and/ or receive money acquired in illegal manner; 7.1.5. Refuse to cooperate with Globe Capital Fincorp in investigation of violations; 7.1.6. spread computer viruses and undertake other measures which could cause System malfunctions, damage or destroy information, as well as cause other damage to systems, equipment or information; 7.1.7. undertake any other deliberate measures which could cause System malfunctions, damage or destroy information, as well as cause other damage to systems, equipment, information or third parties; 7.1.8. organize illegal gambling, trade of guns, drugs, prescription medicine, steroids, pornographic production, unlicensed lottery, illegal trade of software or other products or services prohibited by the law; 7.1.9. Provide financial services without a prior consent of Globe Capital Fincorp; 7.1.10. Provide services which are prohibited by the laws or conflict with the public order and/ or good morals.
8.1. The Client confirms that he/ she agrees with provision of communication by Globe Capital Fincorp on System. The Client confirms that communication presented in through the System shall be considered submitted properly. It is considered that the Client has received notification within 24 (twenty four) hours after they have been published on the System. 8.2. All communication between the Client and Globe Capital Fincorp shall be performed in the language in which the Services’ agreement was concluded by the Client and Globe Capital Fincorp. 8.3. The Client obligates to keep telephone number, email address and other information submitted while creating Globe Capital Fincorp Account up to day and immediately, however, no later than within 5 Business Days inform Globe Capital Fincorp about any change. 8.4. The Client also confirms that he/ she has an access to the internet and agrees that Globe Capital Fincorp may provide Clients with non-confidential and/ or not personally addressed information by publishing it on the website https://www.globecapitalfincorp.eu 8.5. Globe Capital Fincorp are able to change the information on their website at any time. Globe Capital Fincorp also have no obligations to notify Clients about such changes.
- Client Information
9.1. Globe Capital Fincorp attaches the supreme importance to privacy and adopts severe rules of confidentiality about current and former Clients. Globe Capital Fincorp does everything reasonable to protect securely any information held about Clients in the accordance with the applicable laws. We do not disclose information about Clients to anyone unless authorised by the Client or required by the law. 9.2. Globe Capital Fincorp may record and/ or monitor telephone conversations between Clients and staff in order to improve the quality of services and/ or for verification or training purposes. 9.3. Globe Capital Fincorp cannot guarantee that the information sent over the Internet when using the Globe Capital Fincorp website is totally secure. Clients provide information at their own risk.