online Payment system

PayChi Terms and Conditions

1. Recitals

These terms and conditions (the “ Terms ”) shall be deemed as a legally binding agreement between you (the “ Client ”) and PayChi (as this term is defined below) (each a “ Party ” and collectively the “ Parties ”), which governs your access to the Website and use of the PayChi Services (as these terms are defined below).

By conducting any action in your PayChi Account (as this term is defined below), including, but not limited to, pushing the “Submit” button, you represent, warrant and agree that you give us your irrevocable written consent and authorisation to perform the relevant actions (e.g . hold, receive, and disburse Clearable Items in accordance with your instructions).

Please review these Terms before you decide whether to accept them and continue with the registration process.

  1. Interpretation

2.1 Definitions

Unless the context otherwise requires, in these Terms, the following terms shall have the following meanings:

 “ Business Day ” means a day, when PayChi provides its services, set by PayChi at its sole discretion. PayChi can set different business days for different services;

“ Clearable Items ” means Fiat Currency, , as well as any other financial instrument or other property approved by PayChi at its sole discretion and without any prior or further approval from the Client;

“ Customer Service ” means PayChi customer service, which you can reach by sending a message through the “Contact Us” facility on the Website;

 “ Fiat Currency ” means USD, EUR, or any other currency approved by PayChi at its sole discretion and without any prior or further approval from the Client;

“ Force Majeure ” means extraordinary events, which are beyond the reasonable control of the Party, which occur after the acceptance of these Terms by the Parties, and which the Parties could not reasonably foresee or prevent. In particular, the following events shall constitute an extraordinary event:

(a) acts of God, flood, drought, earthquake, explosion or other natural disaster;

(b) epidemic or pandemic;

(c) acts of terrorism, civil war, civil commotion or riots, war (declared or undeclared), threat of or preparation for war, armed conflict, imposition of sanctions, embargo, breaking off of diplomatic relations, invasion, acts of foreign enemies, hostilities (whether war is declared or not), rebellion, revolution, insurrection of military or usurped power, requisition or compulsory acquisition by any governmental or competent authority;

(d) ionising radiation or contamination, radio activity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel, radioactive toxic explosive or other hazardous properties of any explosive assembly or nuclear component;

(e) pressure waves caused by aircraft or other aerial devices traveling at sonic or supersonic speeds;

(f) any law or any action taken by a government or public authority in effect on or after the date of this Terms (which impede fulfilment of obligations by the Parties under these Terms), including without limitation imposing an export or import restriction, currency restriction, quota or prohibition, or failing to grant a necessary licence or consent; and

(g) collapse of buildings, fire, explosion or accident; national or regional emergency, strikes, labour stoppages or slowdowns or other industrial disturbances;

“ PayChi Account ” means an account at the Website, which enables you to receive the PayChi Services;

“ PayChi Services ” means the following services:

(a) transfer of the funds denominated in same Fiat Currency between PayChi Accounts;

 (b) conversion of different Fiat Currency in your PayChi Account; and

“ PayChi ” means payment system Progressive Payment System SE, a company incorporated and existing under the laws of the Czech Republic with registration number 24282693, having its registered office at Bilkova 855/19, Old Town, 110 00, Prague 1, Prague, Czech Republic;

“ Privacy Policy ” means policy governing the processing of personal data, which is available on the website, as may be amended from time to time;

“ VAT ” means value added tax;

“ We ”, “ us ”, “ our ” means PayChi;

“ Website ” means a website available at ; and

“ You ”, “ your ” means you in whose name the PayChi Account is opened and maintained.

2.2 Meaning of references

In these Terms, except where the context otherwise requires:

(a) words importing one gender shall be treated as importing any gender, words importing the singular shall be treated as importing the plural and vice versa, and words importing the whole shall be treated as including a reference to any part thereof;

(b) references to any document (including these Terms) are references to that document as amended, consolidated, supplemented, novated or replaced from time to time;

(c) references to the word “include” or “including” or “in particular” (or any similar term) are not to be construed as implying any limitation, except where made together with words like “exclusively” (or any similar term) and general words introduced by the word “other” (or any similar term) shall not be given a restrictive meaning by reason of the fact that they are preceded by words indicating a particular class of acts, matters or things;

(d) references to “US Dollars” or “$” or “USD” are to the lawful currency from time to time of the United States of America;

(e) references to “Euro” or “€” or “EUR” are to the single currency of the European Union constituted by the Treaty on European Union;

(f) references to a “person” or “entity” shall include any individual, firm, body corporate, unincorporated association, government, state or agency of state, association, joint venture or partnership, in each case whether or not having a separate legal personality;

(g) if a period of time is specified as from a given day, or from the day of an act or event, it shall be calculated exclusive of that day; and

(h) any obligation in these Terms on a person not to do something includes an obligation not to agree or allow that thing to be done.

2.3 Headings

Clause, paragraph, and section headings are inserted for ease of reference only and shall not affect construction.

2.4 Meaning of undefined terms

If a word or term used in these Terms is not defined in this section 2, it shall have the meaning given in the text of these Terms.

2.5 Negotiation of Terms

In the event that an ambiguity or question of intent or interpretation arises, these Terms shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favouring or disfavouring any Party by virtue of the authorship of any provisions of these Terms.

  1. PayChi Account

3.1 PayChi Account

  • In order to start using PayChi Services, you must first open the PayChi Account by registering your details on our Website. As part of the registration process, you will need to accept the Terms and the Privacy Policy.

3.2 Number of PayChi Accounts

You may open only one PayChi Account unless PayChi explicitly approves the opening of additional accounts.

3.3 Age restrictions

If you are an individual, you must reach the age, which is required by the laws of your jurisdiction for the lawful use of the PayChi Services and by opening the PayChi Account you represent and warrant that you have reached the age, which is required by the laws of your jurisdiction for the lawful use of the PayChi Services.

It is prohibited to use PayChi services for persons below the age of 18 (eighteen). If you are a natural person and have not reached the age of 18 (eighteen) yet, you have to confirm that the your legal representatives (parents/guardians) agree with your registration in the PayChi. PayChi has the right to require a written consent (approved by a notary) from the legal representatives (parents/guardians) the Client at any time. If you fails to submit the written consent within the terms given by PayChi, PayChi shall immediately suspend provision of all or a part of the services.

3.4 Legality of opening PayChi Account

You may only open the PayChi Account if it is legal to do so in the country of your residence. By opening the PayChi Account, you represent and warrant to PayChi that opening of the PayChi Account by you does not violate any laws or regulations applicable to you and that you have obtained all and any approvals, licenses, permits or other documents required for you to open the PayChi Account and use any of PayChi Services. You shall indemnify in full and hold harmless PayChi and its affiliates from and against all losses, which PayChi and its affiliates may suffer as a result of the breach of this sections of the Terms by you.

3.5 Information for registration on Website

You hereby represent and warrant that all information provided during the registration process or any time afterwards is true, complete and accurate.

3.6 Currency of PayChi Account

Your PayChi Account has separate sections denominated in each of the Clearable Items.

3.7 No interest

Clearable Items held on you PayChi Account does not expire and, for the avoidance of doubt, will not earn any interest.

3.8 Withdrawal of funds from PayChi Account

Subject to section 11 of the Terms, you have the right to withdraw the funds from your PayChi Account at any time. However, you may be required to confirm your identity in advance. The funds on your PayChi Account must be sufficient to cover any applicable withdrawal fee. You can choose the method of withdrawal when submitting your withdrawal request.

3.9 Exclusion of e-money regulation

PayChi account is not a bank account. By accepting these Terms, you acknowledge that the UK’s Financial Services Compensation Scheme (FSCS), Deposit Insurance Fund of Czech Republic, any other deposit guarantee institution set up or operating in accordance with Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes, or any other equivalent scheme or arrangement does not apply to your PayChi Account.

3.10 Loss of funds

In the unlikely event that PayChi becomes insolvent, you may lose the funds held in your PayChi Account.

3.11 Title to funds

The funds on the PayChi Account belongs to the person or legal entity registered as the PayChi Account holder. No person other than the PayChi Account holder has any rights in relation to the funds held in a relevant PayChi Account, except for the events of succession.

3.12 No assignment

You shall not assign, dispose or otherwise transfer your PayChi Account to any of your affiliates or any third party or otherwise grant any of your affiliates or any third party a legal or equitable interest over it.

3.13 Advertising

Some of the PayChi Services’ features may be supported by advertising revenue and may display advertisements and promotions. In consideration for PayChi granting you access to and use of the PayChi Services, you agree that PayChi may place such advertising.

3.14 Limits

Your PayChi Account may be subject to upload, payment and withdrawal limits, depending on your country of residence, the verification status of your PayChi Account and other factors used by us to determine such limits from time to time at our sole discretion. Information on the applicable limits will be made available to you in informational part of your PayChi Account on the Website.

3.15 Responsibility for taxes

The reporting and payment of any applicable taxes arising from the use of the PayChi Services is your responsibility. You hereby agree to comply with any and all applicable tax laws in connection with your use of the PayChi Services, including without limitation, the reporting and payment of any taxes arising in connection with transactions made or income received through the PayChi Services.

  1. Maintenance of PayChi Account

4.1 Updated information

You must ensure that the information recorded on your PayChi Account is always true, complete, accurate and up to date and we shall not be liable for any loss arising out of your failure to comply with the obligation provided in section 4.1 of these Terms. We may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence.

4.2 Notices

We may contact you by e-mail or in other ways described in section 19 of these Terms with the information or notices regarding your PayChi Account. It is your responsibility to regularly check the proper functioning of your e-mail account or other methods of communication that you have registered with your PayChi Account and to retrieve and read messages relating to your PayChi Account as soon as practicable. We shall not be liable for any loss arising out of your failure to comply with the obligation provided in this section 4.2 of the Terms.

4.3 Monitoring of transactions

Fund uploads, payments received, payments sent and fund withdrawals are displayed in your online transactions history together with the fees charged. Each transaction is given a unique transaction ID and shown in the transaction history. You should quote this transaction ID when communicating with us about a particular transaction. You should check your PayChi Account balance and transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Customer Service.

4.4 Claim for refund

(a) To claim a refund for an unauthorised or incorrectly executed payment transaction on your PayChi Account in accordance with section 16(a) of these Terms, you must notify us without undue delay after becoming aware of the unauthorised or incorrect transaction and in any event no later than three (3) months after the debit date of the transaction.

(b) For the avoidance of doubt, the Client shall has no rights to claim a refund in any cases except as expressly provided in the Terms.

  1. Safety of PayChi Account

5.1 Password security

You must take all reasonable steps to keep your PayChi Account password safe at all times and never disclose it to anyone. Our personnel will never ask you to provide your password to us, our affiliates or any third party. Any message you receive or website you visit that asks for your password for the PayChi Account, other than the Website, must be reported to us. If you are in doubt whether a website is genuine, you should contact Customer Service. It is advisable to change your password regularly (at least every three (3) months) in order to reduce the risk of a security breach in relation to your PayChi Account. We also advise you not to choose a password that is easily guessed from information someone might know or gather about you or a password that has a meaning. You must not allow any affiliate or third party to access your PayChi Account or watch you accessing your PayChi Account.

5.2 Unauthorised access

If you have any indication or suspicion of your PayChi Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you are advised to change your password. You must contact Customer Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorised use of your PayChi Account, login details, password or other security features. Any undue delay in notifying us may affect the security of your PayChi Account and result in you being liable for any losses as a result.

5.3 Suspension for security reasons

We may suspend your PayChi Account or otherwise restrict its functionality on reasonable grounds relating to the security of the PayChi Account or any of its security features or if we reasonably suspect that an unauthorised or fraudulent use of your PayChi Account has occurred or that any of its security features have been compromised. We will notify you of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.

5.4 Security of e-mail account

You must take all reasonable care to ensure that your e-mail account(s) are secure and only accessed by you, as your e-mail address may be used to reset passwords or to communicate with you about the security of your PayChi Account. In case any of the e-mail addresses registered with your PayChi Account is compromised, without undue delay after becoming aware of this, you must contact Customer Service, as well as your e-mail service provider.

5.5 Storage of login details

Irrespective of whether you are using a public, a shared or your own computer to access your PayChi Account, you must always ensure that your login details are not stored by the browser or cached or otherwise recorded. You must never use any functionality that allows login details or passwords to be stored by the computer you are using.

  1. Closing PayChi Account

6.1 Right to close PayChi Account

You are not authorised to close your PayChi Account at your sole discretion. However, you are authorised to refuse from each and all PayChi Services related to the transfer and conversion of funds available to you as the holder of the PayChi Account.

6.2 PayChi Account balance reset

You may reset the balance of your PayChi Account if your PayChi Account balance is positive as of the day of adopting a respective decision.

  1. Uploading funds

7.1 Upload method

(a) The funds in USD or EUR could be credited to the PayChi Account via wire bank transfer to the one of PayChi’s bank accounts specifying the details of the relevant PayChi Account or in any other way, which could be made available by PayChi from time to time

(b) PayChi’s bank accounts are specified in the “Bank Details” facility on the Website (as may be amended from time to time).

7.2 Third party services

Upload methods are payment services provided by third parties (for example, the issuer of the payment card you use to upload funds or third party direct banking service providers) and are not part of the PayChi Services. We do not guarantee the use of any particular upload method made available, and may make changes to or discontinue the acceptance of any particular upload method at any time without following the procedure set out in section 19. Notwithstanding section 7.4 below, we shall not be responsible for the upload payment until the uploaded funds are received by us.

7.3 Upload authorisation

You may be asked to answer security questions or to complete other activities that we may reasonably require to ensure proper authorisation of an upload transaction.

7.4 Uploaded funds

Uploaded funds will be credited to your PayChi Account after the funds have been received by us. Some upload transactions, such as those by credit or debit card will be credited to your PayChi Account immediately, but are subject to reversal in case the actual funds do not reach us within a reasonable time in which case we will deduct such reversed transaction from the balance of your PayChi Account. If your PayChi Account balance is insufficient, we reserve the right to require repayment from you or cancel any of your last transactions resulting in insufficient balance.

7.5 Payment recipient

For the purposes of an upload transaction through a payment instrument, we are a payment recipient and not a payment service provider.

7.6 Upload limits

Uploads may be subject to upload limits due to security and/or legal reasons. You can view these limits (as amended from time to time) at any time in the relevant facility on the Website.

  1. Sending Payments

8.1 Authorisation

To send a payment to another PayChi Account you are required to authorise the payment with your login details and password to the PayChi Account. We may also ask you additional security questions relating to you or your PayChi Account.

8.2 Payment limits

Payments are subject to payment limits due to security and /or legal reasons. You can view these limits (as amended from time to time) at any time in the relevant facility on the Website. You should ensure that your limits are sufficient to cover the payment you intend to make as well as any applicable fees including service fees and currency conversion fees. You should be aware that the recipient of a payment may also be subject to spending and withdrawal limits and that this may affect the recipient’s access to the funds you intend to send.

8.3 Sending payments fees

Sending payments is subject to fees and currency conversion fees depending on the type of payment you make.

  1. Receiving Funds

9.1 Notification on receipt

If you receive funds into your PayChi Account, we will send you a notification email and display the payment as a “Receive Money” transaction in your transactions history. You should regularly reconcile incoming payments with your own records.

9.2 Request for payment

You can request a payment from any person by using the “Receive Money” service within your PayChi Account. You must only use this service for undisputed amounts that a person owes you and that are due for payment in full. This service may not be used as a debt collection or enforcement tool. If the person that owes you the payment asks you not to use PayChi “Receive Money” service to request payment from them, you must comply with this request regardless of the merits of your claim. When using this service, you must ensure that you have the right to contact the person you are claiming from. You are strictly prohibited from requesting money by using the “Request Money” service within your PayChi Account from someone, who does not owe you the amount requested; would be ineligible to open a PayChi Account (for example, minors); or has not given or has withdrawn his or her consent to receive a request for payment via the “Request Money” service and we shall have the right to claim any damages or losses arising out of your breach of this section.

  1. Prohibited transactions

10.1 Prohibited transactions

It is strictly forbidden to send or receive payments as consideration for the sale or supply of the following activities: tobacco products, prescription drugs, drugs, weapons (including without limitation, knives, guns, firearms or ammunition), satellite and cable TV descramblers, pornography, adult material, material which incites violence, hatred, racism or which is considered obscene, any counterfeit products, unlicensed or illegal lotteries or gambling services (including without limitation the use of or participation in illegal gambling houses), unregistered charity services, items which encourage or facilitate illegal activities, third party processing or payment aggregation products or services, goods or services that infringe the intellectual property rights of a third party. We reserve the right, at our sole discretion, to add categories of prohibited transactions by adding such categories either to these Terms or an acceptable use policy published on the Website.

10.2 Gambling and related transactions

It is strictly forbidden to make payments to or to receive payments from persons or entities offering illegal gambling services, including (but not limited to) illegal sports betting, casino games and poker games. We may suspend or terminate your PayChi Account at any time or refuse to execute or reverse a transaction if we believe that you directly or indirectly use or have used your PayChi Account for or in connection with illegal gambling transactions. Countries, where online gambling is illegal include, among others, the United States of America, Turkey, China, Malaysia, Ukraine and Israel. This list is not exhaustive and it is your responsibility to ensure that you do not use the PayChi Services for transactions that may be considered illegal in your jurisdiction.

10.3 Prohibited countries of residence

You may not use the PayChi Services if you are residing in any of the following territories: Afghanistan, Cuba, Eritrea, Iran, Iraq, Libya, North Korea, South Sudan, Sudan, Syria or Crimea. This list is not exhaustive and we may, at our sole discretion, decide to discontinue or restrict our services in other countries at any time and without prior notice. We reserve the right to suspend or terminate your PayChi Account at any time if we reasonably believe to be required to do so by law or to comply with recommendations issued by a relevant government authority or recognised body for the prevention of financial crime.

10.4 Fraud and money laundering

It is strictly forbidden to use your PayChi Account for any illegal purposes including, but not limited to, fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency.

10.5 Special business

You may only accept payments for certain categories of business after our approval at our sole discretion. Such business categories include, but are not limited to: money exchange or remittance businesses, including, but not limited to, currency exchanges and purchase of travel money; the collection of any form of donations or payments to charitable or not-for-profit organisations; dealing in natural resources such as jewels, precious metals or stones; the sale or supply of alcoholic beverages; the sale of supply of dietary supplements and alternative health products; any other business category published in an acceptable use policy on the Website from time to time. In case you are in doubt whether your business falls under any of the above categories, you must contact Customer Service. We reserve the right, at our sole discretion, to add business categories requiring approval by adding such categories to these Terms.

10.6 Misconduct

If you conduct or attempt to conduct any transaction in violation of the prohibitions contained in this section 11 or without the necessary approval under section 11.5, we reserve the right to: reverse the relevant transaction; and/or close or suspend your PayChi Account; and/or report the transaction to the relevant law enforcement authority; and/or claim damages from you; and charge you an administration fee of up to USD10,000 if we apply any of the above.

10.7 Business with third parties

It is your and not our responsibility to ensure that you only send payments to or receive payments from persons or entities for the sale or supply of goods and services that you may provide or receive in compliance with any applicable laws and regulations. The mere fact that a person or entity accepts payments through us is not an indication of the legality of the supply or provision of their goods and services. If you are in doubt as to the legality of a supply or purchase, you should not continue with your payment.

  1. Anti-money laundering compliance

11.1 Transaction suspension

If any anti-money laundering regulation applicable to PayChi requires or authorises PayChi to suspend any transaction, you hereby agree that such suspension (regardless of the term of such suspension) shall not be deemed as the violation of these Terms by PayChi and you understand and agree that PayChi will not be held liable for any losses or damages resulting from such suspension.

11.2 Verification

(a) We are committed in our compliance with all applicable laws and regulations with regard to anti-money laundering, terrorism financing, fraud or other illegal activity. Without prejudice to our rights provided in these Terms in respect of money laundering prevention and anti-money laundering compliance, we reserve the right in our sole discretion to carry out all and any necessary verifications before processing any upload, payment or withdrawal of funds, including but not limited to:

(i) the right to request for proper documentation to verify your identity and/or your business, as well as additional personal or business information or bank account details;

(ii) the right to request the abovementioned information during your application for a PayChi Account in order to provide you with the PayChi Services.

(b) You hereby provide your irrevocable consent for including your full name, address and any other details as are required to enable us to comply with the applicable anti-money laundering regulations to the relevant authorities, organisations and companies.

11.3 Consequences of suspicious or fraudulent transactions

(a) Subject to section 17.1 of the Terms, in case of suspicious or fraudulent cash adding, including use of the stolen credit cards and/or any other activities of fraudulent nature (including any returns or cancellations of payments), we reserve the right to stop providing the PayChi Services to you and to terminate your PayChi Account, and to investigate operations of doubtful nature. During the investigation we reserve the right to request from you the documents confirming legal possession and a legal origin of funds.

(b) Our refusal to carry out suspicious operations shall not serve as the legal ground for any PayChi’s liability before the Client.

  1. Withdrawal of funds

12.1 Withdrawal of funds

You can request a withdrawal of all or part of the funds held in your PayChi Account at any time. To do this you must log into your PayChi Account and select a withdrawal method and enter the amount to be withdrawn. Withdrawal methods are payment services provided, at least in part, by third parties. We do not guarantee the availability of any particular withdrawal method and may make changes to or discontinue a particular withdrawal method at any time without following the procedure set out in section 16 as long as there is at least one withdrawal method available to you.

12.2 Withdrawal limits

Your PayChi Account is subject to withdrawal limits in terms of minimum withdrawal limits and maximum withdrawal limits. You can view your withdrawal limits (as amended from time to time) at any time in the relevant facility on the Website. Before uploading any funds into your PayChi Account, you must ensure that your current withdrawal and spending limits (if any) meet your withdrawal and spending requirements, as we legally cannot allow you to exceed these limits.

12.3 Over limit

If your withdrawal request exceeds the current limit (if any), we may decline your request and instead require you to send us documents verifying your identity and address prior to allowing a withdrawal of funds or to otherwise cooperate with us to verify your identity.

12.4 Withdrawal fees

Withdrawals are subject to withdrawal fees and currency conversion fees depending on which withdrawal method and payment instrument is chosen.

12.5 Accuracy of payment details

You must ensure that the payment details you enter when withdrawing funds are correct and complete. We will not be liable for withdrawn funds being sent to the wrong payment instrument where this is due to you providing incorrect payment details. When withdrawing to a bank account, you must ensure that the account number, sort code, IBAN and/or BIC/SWIFT are correct. If you have withdrawn funds to the wrong payment instrument, you may request that we assist you in reclaiming the funds.

  1. Fees

(a) Transaction related fees can be viewed at any time in the “Fees” section on the Website (as amended from time to time).

(b) Our fees are either expressed as a percentage of the transaction or as a fixed amount in the currency of the relevant transaction and do not include VAT (if applicable).

(c) Fees payable by you will be deducted from your PayChi Account balance and you hereby authorise us to do the same. Transaction fees will be charged when the transaction is executed. If your PayChi Account balance is insufficient to cover the fees, we may refuse to execute the payment. Reversal or chargeback fees will be deducted when incurred.

(d) If the deduction of fees results in a negative PayChi Account balance, you will be required to repay such negative balance by uploading sufficient funds into your PayChi Account. Failure to do so is a breach of these Terms. Repayment of the negative balance is due immediately without notice. However, we reserve the right at any time to send you reminders that you need to upload funds or to take other debt collection measures. We reserve the right to charge you expenses we have reasonably incurred in connection with any debt collection or enforcement efforts

  1. Fiat Currency conversion rates

(a) As Fiat Currency prices constantly vary, it’s not possible to know in advance the conversion rate you will pay. The rate displayed online at various websites such as ECB is the mid-market rate: the average between the prices at which people are buying and selling the currency. The actual exchange rate includes markups from financial institutions.

(b) The concrete Fiat Currency conversion rate will be the rate available on “Currency Exchange” facility on the Website (as amended from time to time) and you agree that we will apply that rate (which you are responsible for checking before the relevant transaction)

  1. Provided data

15.1 Data processing

The processing of your data is governed by our Privacy Policy, which is available on our Website. By accepting these Terms, you also agree to the terms of our Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms within the term of holding the PayChi Account.

15.2 Newsletters

You will receive e-mail newsletters that will inform you about new product features, events, promotions, special deals, etc . By accepting these Terms, you agree to receive such e-mail newsletters on a regular basis. If you do not wish to receive any newsletters from us, you can opt out at any time by logging into your PayChi Account and changing the appropriate settings in your PayChi Account profile. Any e-mail newsletter you receive will also give you the option to unsubscribe from any future newsletter.

  1. Liability

(a) In case of an unauthorised payment or a payment that was incorrectly executed due to our error, we shall, at your request, use our best efforts to immediately refund the payment amount including all fees deducted therefrom. This shall not apply:

(i) where the unauthorised payment arises from your failure to keep the personalised security features of your PayChi Account safe in accordance with section 5;

(ii) if you fail to notify us without undue delay of any loss of your password or other event that could reasonably be expected to have compromised the security of your PayChi Account after you have gained knowledge of such event, in which case you shall remain liable for losses incurred up to your notification to us;

(iii) if the transaction was unauthorised but you have compromised the security of your PayChi Account with intent or gross negligence, in which case you shall be solely liable for all losses; or

(iv) if you fail to dispute and bring the unauthorised or incorrectly executed transaction to our attention within six (6) months from the date of the transaction.

(b) Section 16(a) shall not apply to transactions made after you have notified us in accordance with section 5.2, in which case we shall remain liable and refund any unauthorised transaction immediately to you.

(c) Without prejudice to the foregoing, you are asked to check the transactions history of your PayChi Account regularly and frequently and to contact Customer Service immediately in case you have any questions or concerns.

(d) In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.

(e) Subject to the foregoing, we shall not be liable for any disruption or impairment of our service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control or the control of the intermediary affected.

(f) We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.

(g) Our obligation under these Terms does not make any statement in relation to or endorsement of the quality, safety or legality of any goods or services provided by a PayChi customer or intermediary.

(h) We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and another PayChi customer.

(i) By accepting these Terms you agree to defend, reimburse or compensate us and hold us and our affiliates harmless from any claim, demand, expenses or costs (including legal fees, fines or penalties) that we incur or suffer due to or arising out of your or your agents’ breach of these Terms, breach of any applicable law or regulation and/or use of the PayChi Services. This provision shall survive termination of the relationship between you and us.

  1. Termination and suspension

17.1 Termination

We may terminate your PayChi Account at any time without notice if:

(a) you breach any condition of these Terms;

(b) you violate or we have reason to believe that you are in violation of any law or regulation that is applicable to your use of the PayChi Services; or

(c) we have reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.

17.2 Suspension

We may suspend your PayChi Account at any time if:

(a) we reasonably believe that your PayChi Account has been compromised or for other security reasons; or

(b) we reasonably suspect your PayChi Account have been used or is being used without your authorisation or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify you.

  1. Changes to Terms

18.1 Changes to Terms

These Terms and any additional terms and conditions that may apply are subject to change. Changes will be implemented with prior notice from us under the procedure set forth in this section 19.

18.2 Notification on changes to Terms

We shall give notice to you of any proposed change by sending an e- mail to the primary e- mail address registered with your PayChi Account.

18.3 Effective date of changes to Terms

The proposed changes to the Terms shall come into effect immediately after publication on the Website and you shall not have the right to object to such a change. Changes to exchange rates shall come into effect immediately without any notice and you shall not have the right to object to such a change.

  1. Communication

19.1 Communication via e-mail

We usually contact you via e-mail. For this purpose, you must at all times maintain at least one valid e-mail address in your PayChi Account profile. You are required to check for incoming messages regularly and frequently. E-mails may contain links to further communication on the Website. Any communication or notice sent by e-mail will be deemed received by you on the same day if it is received in your e-mail inbox before 5.30 pm on a Business Day. If it is received in your e-mail inbox after 5:30pm on a Business Day or at any other time, it will be deemed received on the next Business Day.

19.2 Other means of communication

Apart from communicating via email, we may contact you via letter or telephone, where appropriate. If you use any mobile services, we may communicate with you via SMS. Any communication or notice sent by post will be deemed received three (3) days from the date of posting. Any communication or notice sent by SMS will be deemed received the same day.

19.3 Access to e-mails

To view emails you need a computer with email software that can display emails in HTML format. We may also send you attachments in Adobe Systems Inc.’s Portable Document Format (PDF), for which you need Adobe’s Acrobat Reader .

19.4 Communication language

We will communicate to you in English and will always accept communications made to us in English. For non-standard communication, we reserve the right to communicate with you in English. Documents or communications in any other languages are for convenience only and shall not constitute an obligation on us to conduct any further communication in that language.

19.5 PayChi contact details

You may contact us at any time by sending a message to Customer Service via the “Email Support” facility on the Website .

  1. No warranty


  1. No partnership or agency

Nothing in these Terms shall be deemed to constitute a partnership between the Parties or constitute any Party the agent of any other Party for any purpose.

  1. Force Majeure

You understand and agree that we will not be held liable for any losses or damages resulting from suspension of the PayChi Services due to Force Majeure events.

  1. Entire agreement

Subject to any terms implied by the applicable law, these Terms represent the whole and only agreement between the Parties in relation to the PayChi Services and supersede any previous agreement (whether written or oral) between the Parties in relation to the subject matter of any such document, save that nothing in these Terms shall exclude any liability for, or remedy in respect of, fraudulent misrepresentation.

  1. Severability

If any provision of these Terms is held by a court of competent jurisdiction to be illegal, invalid or unenforceable in any respect under the law of any jurisdiction, then such provision shall (so far as it is invalid or unenforceable) be given no effect and shall be deemed not to be included in these Terms but without invalidating any of the remaining provisions of these Terms. Any provision of these Terms held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. The Parties shall then use all reasonable efforts to replace the invalid or unenforceable provision(s) by a valid and enforceable substitute provision the effect of which is as close as possible to the intended effect of the invalid or unenforceable provision.

  1. Jurisdiction

Any dispute arising out of or in connection with these Terms (including a dispute relating to the existence, validity or termination of these Terms) shall be referred to the courts of Czech Republic.

  1. Governing law

The construction, validity and performance of these Terms and all non-contractual obligations arising from, or connected with, these Terms shall be governed by the laws of Czech Republic.