Rules and Regulations for Registration and Administration of Payment Cards on the BitBay Platform

§ 1 Preliminary Provisions

  1. These "Rules and Regulations for Registration and Administration of Payment Cards on the Bitbay.net platform" (hereinafter referred to as the "Rules and Regulations”) sets forth detailed rules for the delivery of services by Expofer Servis House s.r.o. (hereinafter referred to as the "Processor") via the Platform, comprising the technical enablement of options to make payments for transactions made on the BitBay.net platform made available to the Users who hold an Account kept by a User on the BitBay.net platform.
  2. The Processor is an entity providing technical transaction handling services.
  3. The Processor does not deliver payment services, it only provides technical support for transactions.
  4. The Processor provides technical support for transactions made by the User on behalf of BB Trade Estonia OÜ (bitbay.net) under an agreement concluded between the User and BB Trade Estonia OÜ.
  5. The User may use the Website on condition that he or she has read and accepted the content of these Rules and Regulations. By accepting the Rules and Regulations, the User enters into a Technical Support Agreement with the Processor.
  6. The Rules and Regulations are available on the website at www.bitbay.net.
  7. In order to enjoy the Service, the User must be equipped with a device enabling Web access, including software commonly used to browse Web resources.

§ 2 Definitions

Bitbay.net
The address of the website at which the online cryptographic trading platform is operated, where transactions are made. The platform operator is BB Trade Estonia OÜ .

Service Provider
A payment service provider maintaining the User’s Account.

Service Provider interface
An interface provided by the Service Provider, by the use of which the Website may initiate a Payment Order.

Intermediary Institution
An entity through the agency of which the User transfers funds to the Payment Operator for the purpose of effecting Payments for a Transaction (in particular a bank, credit institution, paying institution, clearing agent).

Payment card (Card)
A financial instrument enabling the execution of payment transactions, processed by Payment Operators, which may be registered by a User, i.e. the holder of a card attached to an Account.

Foreign payment card
A payment card issued by a Paying Authority outside Estonia.

CVV2/CVC2 code
A three-digit code provided on the back (reverse) of the Payment Card next to the Cardholder's signature, used to authorise a payment transaction executed with the Payment Card without its physical presence (payment transactions made on the Web, on the phone, via mail).

Payment Operator
An entity or entities, jointly or each of them separately, providing payment services on the Website, according to the rules set forth in the BitBay.net Rules and Regulations.

Service fee
A fee for handling of Transactions by the Website; the fee is charged by Processor to the User via BBTrade.

Payment Organisations
Organizations that associate issuers and service providers handling Payment Cards issued by these organizations; here: Visa and Mastercard.

Payment
A payment by the User made for the exchange of currencies on the website at bitbay.net using the payment channels provided by the Payment Operator, in particular using a Payment Card crediting a bitbay.net account.

Card holder
A natural person, a legal person, or an organisational unit that is not a legal person but may acquire rights and take obligations in its own name which has entered into an agreement with the Payment Card issuer, or which, pursuant to an agreement concluded with the Payment Card issuer, is entitled to make transactions using the Payment Card, under which agreement the Payment Card was issued and payment transactions are made using the Payment Card.

Processor
Expofer Servis House s.r.o., a company established under Czech law, with its registered office in Ostrava, at V Zátiší 810/1, 709 00 Ostrava, entered into the Register of Companies under number CZ06095976 - a company providing technical processing services for transactions made with a Payment Card between Users and Bitbay.net.

Rules and Regulations
The content of these Rules and Regulations.

Rules and Regulations of BitBay.net
Rules and Regulations with the wording provided on the website at bitbay.net/terms-of-use-bitbay-estonia

Maintenance services
Technical transaction handling services provided in Polish by the Processor.

Parties
A User or the Website.

Transaction
A service consisting in crediting the account at bitbay.net using a payment card, which results in entering into a sales agreement between a User and bitbay.net .

Processing Agreement
An agreement concluded under these Rules and Regulations.

Service
The service provided by the Processor, consisting in technical support extended to the Transactions.

User
A natural or legal person, or an organisational entity without legal capacity, to which BB Trade Estonia OÜ provides services, making card payments to replenish the balance of a fiat currency account at the BitBay platform.

Issuer
A bank issuing Payment Cards to Users under an agreement previously concluded with the User.

Payment Order
An order to execute a specific Payment submitted by the User to the Issuer or Provider of services to bitbay.net via the Website.

§ 3 Registration of Payment Card

  1. In order to register the Payment Card in the User's Account, when choosing the payment method the User/Card Holder should provide the details of the Payment Card (16-digit Payment Card number, expiry date of the Payment Card, CVV2/CVC2 code) and become familiar with the rules of Service delivery, accept the provisions of these Rules and Regulations and undergo the Verification process referred to in §3.2 of these Rules and Regulations.
  2. The User's Payment Card is charged with a non-refundable fee between EUR 0.01 and EUR 1. After the amount is blocked, the User is obliged to verify the card by entering a sequence of digits corresponding to the blocked amount.
  3. In the case of an unsuccessful attempt to verify the Payment Card, the Card will not be charged with verification costs.
  4. The User accepts the provisions of these Regulations by filing a declaration of joining the Service.
  5. By verifying the Payment Card, the User declares that he or she is its owner. Moreover, the User may use only the Payment Card that he or she holds. It is prohibited to use Payment Cards owned by third parties.
  6. The Website allows Users to make payments only with a card that has a functionality for verification of transactions by means of 3D Secure service. Transactions made using a card whose Issuer does not offer 3D Secure verification will not be accepted.
  7. The User undertakes to undergo a two-phase verification process (also called 2FA), comprising two phases: by entering the correct user ID and authentication password, and then by providing a code to which access is only enjoyed by the correct account holder at a specified portal. An example of software that provides two-phase authentication is Google Authenticator.
  8. The Website does not support payment using cards issued by issuers with their registered offices in the following countries:
    • Iran
    • Yemen
    • Libya
    • Pakistan
    • USA
    • Sudan
    • South Sudan
    • Syria
    • São Tomé and Príncipe Islands;
  9. Within the scope of Service, the User may have a maximum of three Payment Cards assigned to the Account simultaneously.
  10. It is not possible to register a prepaid card, issued to the bearer.
  11. The User is responsible for ensuring the completeness and reliability of the encrypted and recorded data of the Payment Cards. The above service is provided by third parties with whom the Website has entered into relevant agreements. If such data have been modified, in order to use the Service the User is obliged to register again.
  12. The User manages the Payment Cards recorded on the Account on his or her own, i.e. by registering and deleting Payment Cards from the Account.
  13. Under the Service, the User, in addition to the obligations arising from Bitbay.net's Rules and Regulations, is obliged to:
    • a. comply with the rules of using the Payment Card agreed with the Issuer, in particular with regard to security and the procedure applicable to its loss (loss or theft),
    • b. monitor on an on-going basis the payment transactions made in the Payment Card Service recorded on the Account and immediately report any identified inconsistencies and irregularities following the procedure referred to in §7, Section 3.
  14. The Service is provided by Bitbay.net on a free-of-charge basis.
  15. The Service Fee for Transactions, which is specified in the Appendix 1 to these Rules and Regulations, is transferred by the User to the Processor via BB Trade. Any other fees and exchange rates related to the execution of the Payment by the Issuer of the payment instrument or the Provider are specified in the agreement between that entity and the User.
  16. Payment transactions made on the bitbay.net website with the use of a registered Payment Card are handled by the Payment Operators delivering payment services offered by the Website, under the rules referred to in the Rules and Regulations of bitbay.net.
  17. The Service is not a payment service. The use of the Service does not involve opening a bank account or payment account.
  18. By accepting these Rules and Regulations, the User declares that he or she is aware of the investment risk associated with participation in cryptocurrency trading - the warning content is available at: https://bitbay.net/en/warning
  19. By accepting these Rules and Regulations, the User declares that he is aware of the fact that the primary threat to any Internet user, including persons using services delivered electronically, is the risk of third parties taking control of the User's device or acquisition of data in another manner to take over the User's account at bitbay.net, which may result in the theft of funds accumulated by the User.
  20. The User is solely responsible for the eventualities described in Sections 18 and 19 and may not pursue any claims against BitBay.net and the Website to that extent.

§4 Transaction handling

  1. The subject of services provided by the Website is technical support of transactions made by the User.
  2. The Services of the Website are delivered according to the choice made by the User, as a payment using Payment Cards made on the Web platform, subject to the option of limiting the aforementioned methods by the Website or bitbay.net.
  3. The User may execute Transactions only after accepting the Rules and Regulations. The Agreement is concluded upon the acceptance of the Rules and Regulations by the User.
  4. The transaction is executed by the Payment Operator on the basis of the Payment Order at the time agreed with bitbay.net in an agreement signed between the Payment Operator and bitbay.net.
  5. Once the payment has been made or in the case of a refund, the User is informed about this fact by means of an electronic message, i.e. information provided on the bitbay.net website or via e-mail.
  6. If it is not possible to effect a payment, the Payment Operator shall immediately return the relevant amount to the User.
  7. The payments are made in the following currencies: EURO, GBP, PLN. If the User does not have funds in one of the supported currencies, the currency conversion will be made at the rate prevailing at the Intermediary Institution. The currency conversion will take place during the Payment Instruction.
  8. The User may make deposits of €10,000 over a period of 30 days; this limit may be raised upon the User's request after positive additional verification by the Security Department. The 30-day cycle starts to run from the date of effecting the first payment.
  9. A User who is a consumer, by accepting the Rules and Regulations and entering into a Transaction Agreement, files a request for technical execution or initiation of the Payment Order before the lapse of 14 days from the Agreement Date, which results in the loss of the User's right to withdraw from the Agreement.
  10. The Website reserves the right to block the use of the Payment Card in the case of a violation of provisions of the AML Act - the content of the legal act is available at the following address https://www.riigiteataja.ee/en/eli/517112017003/consolide.
  11. If the Security Department determines that the User repeatedly assigns different Payment Cards to the account, assessed on the basis of the activity undertaken in the Account, this may result in the User's Account being blocked.
  12. A breach of any of the provisions of these Rules and Regulations shall result in blocking of the Account.
  13. If BitBay reasonably suspects that a crime has been committed, in particular a suspicion that the funds or cryptocurrencies being the subject of the transaction originate from a crime, BitBay reserves the right to block a given transaction or User Account, as well as to notify law enforcement and judicial authorities about such a suspicion. The notification is made independently of any other action taken by BitBay itself. Until the doubts have been clarified (e.g. through another User verification) or an appropriate decision of the relevant authority has been obtained, BitBay has the right to block the Account of the given User.

§5 Personal data

  1. The processor is the administrator of the personal data of Users, including Card Holders, in connection with offering the Service by the Website within the meaning of Article 4, Section 7 of the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation - GDPR).
  2. Bitbay.net does not store, process or administer data of Users' Payment Cards. Storage, encryption and saving of card data services are delivered by third parties with whom the Website entered into relevant agreements, and the data is processed in a secure environment certified with a PCI-DSS Level 1 document.
  3. By accepting these Rules and Regulations, the User declares that the data provided by him or her during the handling and execution of the Payments is true and valid. The provision of false data will result in civil liability borne by the User vis-a-vis the Website. The above does not exclude criminal liability, if the law so specifies.

§ 6 Liability of parties

  1. The rules governing the liability of the Issuer or the Provider of a payment instrument for unauthorised payment transactions, as well as for non-execution or improper execution of a payment transaction, are set forth in an agreement signed between that entity and the User.
  2. The Website will not execute Payments using payment instruments which are:
    • 1) invalid
    • 2) blocked
    • 3) used contrary to the rules on the use of the payment instrument
    • 4) suspected of unauthorised usage
  3. The Website bears the burden of proving that the Service Provider received the Payment Order and that - within the scope of the Payment Operator's competence - the Payment Order has been authenticated, properly recorded and has not been affected by a technical failure or any other type of malfunction related to failure to perform or improper performance of the Payment Order, including performance with a delay.
  4. The Website is entitled to refuse to handle a particular Payment Order if the User does not meet the requirements set forth in the Rules and Regulations or in case of doubts as to the legality of the Transaction and does not bear responsibility to this extent.
  5. The Website does not guarantee the execution of Transactions in the case of technical disruptions or other reasons attributable to the Intermediary Institutions, as well as in cases of failure to follow the instructions provided by bitbay.net or by these Rules and Regulations.
  6. The Website is not responsible for the technical infrastructure and IT system of the User and bitbay.net.
  7. The Website shall not be liable for non-performance or misperformance of transactions due to force majeure.
  8. The User is obliged to:
    • 1) use the Website only to make Transactions according to the rules specified in these Rules and Regulations and set forth in the BitBay Rules and Regulations.
    • 2) act in a reliable and lawful manner when using the Website, in particular, by giving true and not misleading information, by not taking actions to the detriment of the Website or other persons, by not allowing actions that could hinder or interfere with the delivery of services under these Rules and Regulations.
  9. The User is obliged to comply with the safety rules specified in the recommendations published on the Website. The Website is not responsible for possible consequences of not following the aforementioned recommendations. The User should check the server certificate to make sure that he or she has actually connected to the Website server.
  10. Owing to the security rules, the Website has the right to demand from the User current personal data or confirmation of such data, as well as any other information required by the Service under applicable law, in particular regarding anti-money laundering and anti-terrorist financing legislation.

§ 7 Complaints

  1. In the case of problems with the execution of Transactions, the User should first contact the issuer of his or her payment instrument.
  2. If the Website delivers services on the bitbay.net platform in breach with the provisions of these Regulations, the User has the right to lodge a complaint. Such a complaint shall be lodged without delay, not later than 5 (five) working days from the occurrence of the event.
  3. The User may submit the complaint referred to in item 2 in writing by sending it via the public postal operator to the address of the Exchange Operator: BB Trade Estonia OÜ, Harju maakond, Tallinn, Lasnamäe linnaosa, Lõõtsa tn 8a, 11415 Estonia, or electronically at the following e-mail address: [email protected] .
  4. The complaint referred to in item 2 shall be processed immediately by the Website, however, within a maximum of 14 days from the date of its lodging. If the complaint does not contain information necessary for its consideration, BitBay shall request the User to supplement such information to the extent necessary, and the period of 14 (fourteen) days shall then run from the date of delivery of the supplemented complaint. If necessary, BitBay may extend the deadline for processing a complaint by an additional fourteen (14) days, of which the person lodging a complaint will be informed. In the case of services provided by third party entities, the timeframe for complaint processing may be extended by the time expected to be required to handle a certain complaint by a given entity, of which the User will be informed, along with delivery of service provider data.
  5. The answer to the complaint shall be provided to the User in writing, or, if the complaint has been lodged via electronic channels, then via the same channel, or after consultation with the User, by means of another durable data carrier at the address indicated by the User in the content of the complaint.
  6. The User notification should comprise as much information as possible, including at least:
    • 1) Transaction number
    • 2) Transaction amount
    • 3) Transaction date and time
    • 4) order information at bitbay.net - number, services purchased, payment card number (first 6 digits and last 4 digits)
    • 5) name and login under which the User appears in BitBay
  7. Regardless of how the User chooses to contact the complaint handling department, BitBay has the right to send a hard copy answer at the User's service address.
  8. If BitBay needs additional information while processing a complaint, it is entitled to contact the User by phone at the phone number the User has provided as a contact phone number with BitBay.
  9. If BitBay has disregarded the claims made by the user in the complaint, the User has the right to lodge an appeal.
  10. The User is obliged to cooperate with BitBay upon request in order to identify the causes of the irregularities reported in the complaint.
  11. A complaint which does not concern the activity of the Website referred to in the Rules and Regulations shall be transferred to a relevant entity. The entity whose activity falls into the scope of the complaint shall examine it following the principles indicated in its rules and internal regulations.

§8 Effective term and termination of the contract

  1. The duration of Service delivery shall be unlimited.
  2. The Contract with the Processor for the delivery of the Service may be terminated at any time by the User by filing a resignation notification vis-a-vis bitbay.net, according to the rules provided in BitBay's Rules and Regulations.
  3. The contract shall be terminated immediately if:
    • a. The User has deleted the last Payment Card recorded in the User Account.
    • b. The agreement with bitbay.net has been terminated by termination of BitBay's Rules and Regulations.
    • c. The agreement with the Processor has been terminated through termination of BitBay's Rules and Regulations.
  4. The agreement may be terminated by the Processor subject to the provision of seven days' notice.
  5. If the User's actions are in breach of the provisions of the Rules and Regulations or if the User has taken any actions which have a negative impact on the security of BitBay.net's operations or harm other Users or which are aimed at bypassing the protections used by BitBay.net or by the Processor consisting in falsifying data under the Service, Bitbay.net is entitled to suspend Service delivery to the User.

§ 9 Final Provisions

  1. The content of these Rules and Regulations, as well as any amendments thereto, are available on the website at https://bitbay.net/en/terms-of-use-bitbay-estonia.
  2. BB Trade Estonia OU reserves the right to amend these Rules and Regulations if:
    • a. the Payment Operator changes the rules of providing payment services in a way which involves the need to change BitBay's Rules and Regulations, in particular the introduction of new services or a change in the scope or manner of providing services;
    • b. the payment organization under which the Payment Cards are issued changes the rules under which Payment Cards are issued and the under which payment transactions are executed with the Payment Cards, in so far as this affects the rules of the Service delivery;
    • c. amendments are made to the provisions of universally binding law or the issuance of court judgments or administrative decisions by a public administration body affecting the operational rules of the Service or Payment Cards;
    • d. significant amendments are made to the operations of the IT systems used by the Website or bitbay.net, provided that these amendments affect the operational rules of the Service;
    • e. other important reasons have occurred;
    • f. it is necessary to rectify or correct obvious typing mistakes or errors, to clarify the provisions, to fill in gaps or inaccuracies in the Rules and Regulations that cannot be removed as a result of interpretation of its provisions.
      • Such amendments become effective on the 8th day counting from the date of informing Users of the change in the manner referred to in paragraph 3 below.
  3. The User will be additionally informed about amendments to the Rules and Regulations via e-mail. If the User does not accept these amendments, he or she should immediately notify BitBay, in writing or via e-mail, at the following address in order to terminate the contract: [email protected] Failure to submit the notice of contract termination referred to in the preceding sentence shall be deemed as acceptance of the amendments by the User. Refusal to accept the changes is tantamount to the termination of the Service delivery contract between the User and bitbay.net. During the notice period, the User shall be bound by the wording of the Rules and Regulation effective prior to the amendments.
  4. An amendment to the Table of Fees and Charges does not represent an amendment to the Rules and Regulations.
  5. BitBay reserves the right to temporarily modify the rules indicated in these Rules and Regulations in the case of promotional campaigns arranged by bitbay.net or its business partners. The rules of promotional campaigns will be indicated on each occasion in the rules and regulations of particular promotional campaigns available on the main page or subpages of the Website.
  6. Any matters not regulated by these Rules and Regulations are subject to the provisions of the Website's Rules and Regulations and the generally applicable laws of the Republic of Estonia.
  7. Should a conflict arise between these Rules and Regulations and BitBay's Rules and Regulations, these Rules and Regulations shall prevail.
  8. The law applicable to the Processing Contract concluded on the basis of these Rules and Regulations and to the relationship between Bitbay.net and the User prior to the conclusion of the contract is the law of Estonia. If the User is not a consumer, the provisions of the Payment Service Act do not apply, whose exclusion in relationships with entities other than consumers is allowed under the provisions of this Act.
  9. Rules & Regulations The languages used for communication with the User are Polish and English.

Appendix No. 1

Table of Fees and Charges:

PLN

  • 2,99%, min. fee 10 PLN

EUR

  • 2,99%, min. fee 2,50 EUR

GBP

  • 2,99% min. fee 2 GBP