UAB „PAYLAR EU“
GENERAL TERMS AND CONDITIONS
FOR PRIVATE INDIVIDUALS
Effective from 1st of April, 2020
The following terms when used in these T&C or any document referred to herein shall have the following meaning:
Prices and Tariffs
Terms and definitions
Account opening fee - a fee for opening an account. Paid upon a successful account opening. The fee shall be paid to Paylar’s account once the customer due-diligence procedure is completed and is required for Paylar services further use.
Customer due diligence fee - a one-time and non-refundable payment which must be paid towards a Paylar account eligibility check. Payment does not guarantee the establishment of any business relations. The fee is payable to your Paylar’s account after the initial registration and before the commencement of the due-diligence procedure.
Monthly account maintenance fee is automatically deducted from a client's account for the previous month at 01:00 CET on the first calendar day of every month. If the account balance is lower than the maintenance fee, the remainder amount is deducted from the future balance. The monthly incurred fee accumulates if not paid.
Yearly account maintenance fee is automatically deducted from a client's account for the previous year at 01:00 CET on the first calendar day of every year. If the account balance is lower than the yearly account maintenance fee, the remainder amount is deducted from the future balance. The monthly incurred fee accumulates if not paid.
Internal transfer is a free of charge fund transfer to other Paylar users accounts
SEPA transfer is a euro currency transfer to and from other accounts in the SEPA area.
SEPA Outgoing transfer fee is paid by the client in addition to the amount transferred.
SEPA Incoming transfer fee is deducted from the client account after a SEPA payment is credited to the client’s account.
International Transfer is any transfer of funds other than the Internal and SEPA transfers. Clients will be notified once International Transfers become available.
Currency exchange fee is a fee paid by the client for any currency conversion within the Paylar payment system.
Balance fee is paid if the account balance exceeds one million euros. The Balance fee is calculated and paid on a daily basis. The daily rate is 0,005556%, which is 2% per annum calculated using the 30/360 method.
Administration fee is deducted from the client’s account for performing various administrative tasks upon request of the client or authorized third parties, including but not limited to state and municipal authorities, courts, and bailiffs.
Inactive account maintenance fee is deducted from the client account at the last business day of the month if the account was not accessed by the client for at least six consecutive months.
Closing account fee is deducted from the client’s account or paid separately by the client for closing the account regardless of the reason.
Company data change fee is deducted from the client’s account or paid separately by the client if the client company information requires an amendment on the Paylar payment system. The company information includes but is not limited to: company name, registration and/or business address, general manager, board members, shareholders, the ultimate beneficial owner.
Signed account statement fee is deducted from the client’s account or paid separately by the client upon request for a signed paper account statement sent to the client by post or courier.
Low-risk business entity is a business entity assigned to a Low-risk Group by the Paylar team at its discretion during onboarding and can be changed over the course of the business relationship. If The Paylar team decides to assign the client to a Low-risk Group, it shall inform the client using the contact details provided.
A Medium-risk business entity is a business entity assigned to a Medium-risk Group by the Paylar team at its discretion during onboarding and can be changed over the course of the business relationship. If The Paylar team decides to assign the client to a Medium-risk Group, it shall inform the client using the contact details provided.
High-risk business entity is a business entity assigned to a High-risk Group by the Paylar team at its discretion during onboarding and can be changed over the course of the business relationship. If The Paylar team decides to assign the client to a High-risk Group, it shall inform the client using the contact details provided.
EU member states are: Austria Italy Belgium Latvia Bulgaria Lithuania Croatia Luxembourg Cyprus Malta Czechia Netherlands Denmark Poland Estonia Portugal Finland Romania France Slovakia Germany Slovenia Greece Spain Hungary Sweden Ireland. Clients from the United Kingdom are considered as clients from EU member - state until December 31, 2020.
EEA - member states are EU member states plus Norway, Lichtenstein, Switzerland and Iceland.
Paylar is a trademark registered in the name of UAB “PAYLAR EU”, which is a licenced electronic money institution.
Paylar payment system is a software owned and operated by UAB “PAYLAR EU” under Paylar trademark, designed for clients to access their payment accounts, make and receive payments and other services provided therein.
Freelance professional is a private individual client, who is intending to use the Paylar account for business-related activities but is not acting in the capacity of a legal entity.
An EEA - based company must meet the following criteria:
What is the Rest of the World?
We welcome our clients from the majority of countries around the globe. The clients from the Rest of the World mean private individual clients who are not residents of the EEA - member states and corporate clients who do not meet EEA - based company criteria.
List of Restricted countries
Following the international regulations, we cannot accept customers from the following jurisdictions: The Bahamas, Botswana, Democratic People's Republic of Korea, Ethiopia, Ghana, Iran, Pakistan, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Yemen, Afghanistan, American Samoa, Guam, Iraq, Libya, Nigeria, Panama, Puerto Rico, Samoa, Saudi Arabia, US Virgin Islands.
Prices for the accounts for private individuals
Type of fee
Tariffs for the EEA residents
Tariffs for the Residents from the Rest of the World
Customer due diligence
Monthly account maintenance
Yearly account maintenance
SEPA transfer. Outgoing
SEPA transfer. Incoming
Balance fee (up to one million euros)
Balance fee (over one million euros)
Inactive account maintenance
Company data change
Signed account statement