11. Adding money to my account

You can add money to your account using by bank transfer.

When you add money by bank transfer, you must use the account details stated in the Kontode. When we receive the money we will add the equivalent value of e-money to your account. Make sure you follow the prompts from the app carefully to avoid any delays.

The account details you must use to add money to your account will depend on the currency of the money you are adding. For example, if you want to add money to your account in euro (€), you must use the ‘Euro account’ details stated in the Kontode.

We will consider that you gave us consent and authorized us to execute the transaction once you submit your payment order on the Kontode.

There is more information on adding money to your account in our FAQs.

Holding money in your e-money account.

Once you have added money to your e-money account, you can transfer it between the various types of sub-accounts we offer. For example, you can transfer your e-money between currencies, or hold it in a Personal Vault or Pocket. These are all sub-accounts of your e-money account. All the rules that apply to your main account also apply to your sub-accounts – for example, they can be accessed by debt collecting agencies.

Never worry about the balance of your Kontode account getting too low

We know that it’s important to be able to make payments from your account whenever you want.

Payment limits

Due to the anti-money laundering and counter-terrorist financing requirements or the limits applied by third parties, we might limit how much you can receive into or pay from your account, or how much you can withdraw or spend using your Kontode Card in the future. We might also limit the value of currency exchange you can carry out at any one time or over a period of time. These limits can change from time to time.

Keep your currency consistent

It’s important that any payment to your account is made in the currency of your account. Otherwise, the payment will be converted to the currency of your account. This means that your account might be credited with more or less than you expected. We won’t be responsible for any losses if this happens.

12. Transferring money between Kontode accounts

You can send money to, and receive money from, other Kontode accounts. We call these sorts of payments Instant Transfers. All Instant Transfers are received immediately.

You can make an Instant Transfer to another Kontode user’s account by choosing them from the contacts list in the Kontode, by using their username, or by using any other method we provide to identify them, and following the prompts.

Making purchases using Pay with Kontode

You can also make an Instant Transfer to a business which uses “Pay with Kontode” to receive payments. This can happen in the following two ways:

• You can instruct us to make an Instant Transfer for a set amount from your Kontode Account to a business, either instantly or at a set date or dates in the future (for example, instead of paying by card in a checkout). We call these payments “Customer Initiated Payments”.
• You can consent to a business being able to collect Instant Transfers from your Kontode account (for example, if you allow a business to collect payments from your account on a regular basis, like for a subscription ). We call these “Merchant Initiated Payments”.

Customer Initiated Payments

Customer Initiated Payments must be for a set amount. The set amount will be a one-off payment. You can turn off recurring Customer Initiated Payments to a business at any time (but you’ll need to turn it off the day before its due if you want to cancel it). You will be asked to confirm and authenticate the amount of a Customer Initiated Payment, and any recurrence of

it, in the checkout or signup flow. The business will only ever be paid the amount you confirm and the business cannot collect any other payments without your permission.

Merchant Initiated Payments

Merchant Initiated Payments can be for any amount, but you set limits on the frequency and total or individual value of Merchant Initiated Payments a business can collect. You can also turn off Merchant Initiated Payments to a business at any time. However, if a business asks us to collect a Merchant Initiated Payment from your account, and it is within the limits you have set, we will not ask you to approve it before it is made.

We will notify you in the Kontode whenever a Customer Initiated Payment or Merchant.
Initiated Payment is made from your Kontode account.

Refunds for Merchant Initiated Payments

Merchant Initiated Payments are collected from your account based on a consent you have given in the past. We encourage businesses to tell you the amount of any Merchant Initiated Payment before they collect it. However, if you think a Merchant Initiated Payment has been taken from your account in error, you can ask us to refund it within 8 weeks of it being paid. To request a refund, contact us via chat, and we will let you know if your refund is successful within 10 business days.

13. Making other types of payments

It’s easy to send money to your or someone else’s bank account. You can make a one-off payment or set up a recurring payment. Just enter the sort code and account number (or, for international payments, the BIC and IBAN) of the account you’re sending money to in the Kontode app and follow the prompts. We may need to ask for other information as well.

We are not responsible for losses where payments are returned in a different currency

Sometimes, money you’ve asked us to transfer to someone is not paid into their account and is returned to us. If we had to carry out a currency exchange when we sent the payment and can show that we did everything right, when we return the money to you we will return it in the converted currency or convert it back to the original currency. This means that the amount you receive back into your account might be less or more depending on the currency conversion rate at the time of return. We would not be responsible for any losses that this causes you.

TAKE CARE ENTERING THE DETAILS OF THE PERSON YOU WANT TO PAY

When you enter the details of the person you want to pay, make sure the details are correct. If they’re not, your payment might be delayed or you might lose your money if it’s sent to the wrong account.

Make sure you know the person you are making a payment to. If someone approaches you and asks you to make a payment to them, but you are not sure who they are or what the payment is for, you may be a victim of a scam, and we may not be able to recover the money for you.

If the person you want to pay does not receive the money, we won’t be responsible if we processed the payment correctly but you gave us the wrong details. If you ask us to, we’ll be happy to try to get your money back, but this might be easier in some countries than in others. If you contact our customer support team through Kontode we can give you information to help you try to recover the money, including details of the person who did receive the money (if we have those details).

The EEA is made up of all the countries in the European Union, plus Norway, Iceland, and Liechtenstein. A ‘business day’ means a day that the banks are open in both the Republic of Lithuania and the UK.

SEPA direct debits

Depending on where you live, you may be able to pay direct debits, in euros, from your account to bank accounts held in the Single European Payments Area (which is all the countries in the EEA plus Switzerland, Monaco and San Marino). These payments are called SEPA direct debits. The bank holding the account the direct debit is to be paid to (the payee’s bank) is responsible for asking us for the payment when it is due.

You can:

• limit the amount of a SEPA direct debit or how often it is paid from your account (or both);
• cancel SEPA direct debits paid from your account; and
• choose to only allow SEPA direct debits to be paid to certain people.

You can do this by contacting us through the Kontode.

If you have set up a SEPA direct debit, the payee’s bank will ask for it on the business day before it is due and we will pay it to the bank on the due date. If the due date is a non-working day for the payee’s bank (this is normally a weekend or bank holiday), it will reach the bank on the next working day.

14. What happens if a payment was sent to the wrong account, wasn’t sent at all or was delayed?

We’ll always try to process your payments correctly and on time, but sometimes things go wrong and a payment might be delayed or not received by the person you wanted to pay.

If something has gone wrong and:

• the person paying you;
• the bank account you wanted to make the payment into; or
• the retailer you were paying;

is in the EEA, let us know through the Kontode. You need to let us know as soon as possible.

If the money is not received into the account, you sent it to, we’ll refund the payment back into your account. If you’ve had to pay any charges or interest as a result of our mistake, we’ll refund those too.

If we received a payment on your behalf, but the money was not paid into your account on time, we’ll immediately credit your account with the amount of the payment.

These rules don’t apply to currency exchanges.

What to do if you think you have made a mistake?

You should always check that you have entered the correct details for the person you want to pay before you make a payment. It’s always a good idea to make a test payment of a small amount (say, €1) to make sure that you have the account details correct. You should always think about the following:

• Always make sure you know the person you are making a payment to. If someone approaches you and asks you to make a payment to them, but you are not sure who they are or what the payment is for, you may be a victim of a scam.
• The contacts you see in the Kontode app are taken from the names and phone numbers you have saved to your own phone. These names and numbers are not verified by us or anyone else. This means that if you have saved the wrong number or wrong name to your phone, you will pay the wrong person and may lose your money.
• The usernames you see in the Kontode app can look similar to other usernames and are able to be changed by individual users. We take steps to remove any inappropriate usernames, but these usernames are not verified by us or anyone else. This means that if you are not sure that the person is who they say they are, you may pay the wrong person and may lose your money.

We are not responsible if we make a payment to the person, you tell us to, even if you gave us the wrong account number, username or phone number by mistake. However, if you ask us to, we’ll try to get your money back for you. We may also try to get you information about the beneficiary so that you can try to get it back yourself (if the law allows us to). While we will try to do these things, we don’t guarantee that we will, and in some cases we won’t be able to.

What we’ll do if we, or someone else, has made a mistake?

On the other hand, if a payment is mistakenly paid into your Kontode account by another person, you will have to pay them back. If the person who mistakenly made the payment makes a legal claim to get it back themselves, we may need to share your information with them.

You agree that if we pre-fund a payment into your account when you initiate a top-up using our Open Banking Services as described in Section 10, and the payment fails to arrive, we can reverse the payment or put a hold on it.

For these reasons, you should always check your account regularly to make sure everything is correct.

Sometimes we may have to ask your friend to open a Kontode account before they can receive a payment for other reasons too. If they don’t, we won’t be able to make the payment to them or from them.

All payment links have a time limit. After this, the link will expire, and your friend will not be able to make or receive your payment. We’ll tell you what this time limit is in the app when you create the link.

15. What exchange rate do you use?

You can find more details of our fee on our Fees page. You can always see our live exchange rate in the Kontode. You can also use the currency converter tools on our website to understand what exchange rate fee applies when making a currency conversion or when making a transfer or card payment involving a currency exchange.

Once we’ve converted a currency, your transaction history in the Kontode will show the exchange rate we used too.

The exchange rate may change between the time you told us you wanted to exchange currency and the time we actually carry out the conversion. This means that if you ask us to exchange currency, you may receive a little more or less back than what you had expected.

We’re not responsible if:

• you lose any money as a result of converting currency; or

• you’re charged any fees or lose any money because you’re using your Kontode Card in example, imagine you’re a Lithuanian customer travelling in Japan. When you pay your bill at a restaurant you agree to pay in Euro rather than yen. This means you’ve asked for the retailer’s bank to convert the currency. We can’t be responsible if that bank gives you a worse exchange rate or charges you fees).

16. Can I cancel a payment or currency exchange?

You can cancel a payment (including a recurring payment or a SEPA direct debit) at any time up to the end of the business day before the payment is due to be paid from your account.

You can’t cancel a payment on the same day it’s due to be paid from your account. This means that you cannot cancel transfers between Kontode accounts.

You also can’t cancel a currency exchange once we’ve received your request to carry it out.

It’s easy to cancel a bank transfer.

You can cancel a bank transfer through the Kontode app.

17. How long does it take to make a payment?

We understand that when you make a payment, one of the most important things is that the person the payment is for receives it on time. When their bank will receive the money depends on what time you tell us to make the payment, and the currency you want us to make it in.

The below explains when we’ll make payments. Please note all times in these terms and conditions are based on UK time, that is, Greenwich Mean Time (GMT) from October to March, and British Summer Time (BST) from March to October.

Instant transfer to a Kontode account:

• You can provide your payment instruction at any time and we’ll receive it immediately.

Payment to someone else’s bank account:

• If you provide your payment instruction before 1pm (or 3pm Vilnius time) on a business day, we’ll receive it immediately.
• If you provide your payment instruction after 1pm (or 3pm Vilnius time) on a business day, we’ll receive it the next business day.
• If you provide your payment instruction on a day that is not a business day, we’ll receive it
• the next business day.

Payment link transfer to a bank account:

• You can provide your payment instruction at any time and we’ll receive it when the person you want to pay enters their bank details (as long as this is within 24 hours of you sending them the payment link).

Payment to a bank account at a future date (such as a recurring payment):

• You can provide your payment instruction at any time and we’ll receive it the same business day (if the payment is due to come out of your account on a business day) or the next business day (if the payment is due to come out of your account on a non-business day).

The below sets out when we’ll make payments in different currencies. If the currency of your payment is € or £:

• once we’ve taken the payment from your account, it will reach the account of the person you are paying the same business day.

If the currency of your payment is any currency other than € or £, to a bank account in the EEA (not the UK):

• once we’ve taken the payment from your account, it will reach the account of the person you are paying up to four working days later.

If the currency of your payment is any currency other than € or £ to a bank account outside the EEA:

• once we’ve taken the payment from your account, it will reach the account of the person you are paying as soon as we can get the payment there. How long it takes would depend on where the bank of the person you want to pay is.

If you tell us to make a currency exchange you will receive the converted e-money immediately.

18. When we will refuse or delay a payment

We must refuse to make a payment, or delay a payment (including inbound and outbound payments), in the following circumstances:

• if legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks;
• if you have broken these terms and conditions in a way that we reasonably believe justifies us refusing or delaying your payment;
• if processing your instruction would break these terms and conditions or that your instruction doesn’t contain all the information, we need to make the payment properly;
• if the amount is over, or would take you over, any limit that applies to your account. We’ve set out the limits in here;
• if there is not enough money available in your account to make the payment and cover any charge;
• if a bankruptcy order is made against you or you’ve entered into an individual voluntary arrangement with your creditors;
• if, even after doing everything reasonably possible, we won’t be able to make the payment on time;
• if a third party prevents us from making the payment (for example, if Mastercard or Visa do not allow a payment or cash withdrawal using your Kontode Card);
• if we have asked you for important information we reasonably need and you have not given us that information; or
• if we have suspended your account.
• We may also refuse to issue a new Kontode Card if you do not have enough money in your account to pay us to issue or deliver the card.

WHEN WE REFUSE TO MAKE A PAYMENT, WE’LL ALWAYS (UNLESS IT WOULD BE UNLAWFUL OR TECHNICALLY IMPOSSIBLE FOR US TO DO SO) TRY TO LET YOU KNOW OF THAT REFUSAL, THE REASONS FOR THAT REFUSAL (IF POSSIBLE), AND THE PROCEDURE FOR RECTIFYING ANY FACTUAL ERRORS THAT LEAD TO THAT REFUSAL. SUCH NOTIFICATION SHALL BE GIVEN TO YOU AS SOON AS PRACTICABLE FOLLOWING THE REFUSAL.

If we can, we’ll use the Kontode app to tell you that we have refused to make a payment. If you’d like to find out why we refused the payment, and what you can do to solve any problem, please contact us through the app.

We won’t be responsible for any losses you suffer as a result of us refusing or delaying a payment.

19. Third-party fees for making or receiving payments

We don’t charge any fees for receiving payments. We don’t charge any fees for sending local payments in your base currency either.

If you make a payment in another currency or to another country, we may charge a cross- border or SWIFT payment fee. These fees are set out in our Fees Page. We will always tell you about them, and tell you how much they cost, in the Kontode app before you make a payment. Other banks involved, such as the bank of the person you are paying or certain correspondent or intermediary banks (banks that help transfer the money between other banks) might sometimes take their fees from the payment you’re sending or receiving. This could mean that you or the person you are paying receives less than expected. For example, you could only receive €90 from someone who has sent you €100 because the other person’s bank has charged a €10 fee.

This might happen if:

• the bank of the person you are sending a payment to or receiving a payment from is within the EEA, and the payment is in a currency that is not the currency of an EEA member state; or
• you make a payment to or receive a payment from someone whose bank is outside the EEA.

To be clear, we won’t charge you any fees ourselves for making or receiving payments. We will always give you the full amount we receive from another bank. Likewise, we will always send the full amount that you ask us to send, but we can’t guarantee that the full amount will be paid into the other person’s account without a fee being taken by another bank.