MONEY RECEIVING. Anyone can start a payment process to remit funds to your Oro Pay account irrespective of having an Oro Pay account themselves or not. You – the Client – have the right to accept or decline receipt of the payment from the other party. All incoming payments, where the Virtual IBAN is used as payment detail, are automatically credited to your Oro Pay account. A periodic receipt limit may be imposed on your Account either by requirement of the anti- money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the money laundering law or any other law or directive that is relevant to Oro Pay’ jurisdiction of authorization. Any such limits set can be viewed in your account details. 6.1. There are at least two receipt limits imposed on all accounts. To lift your initial receipt limit, you must complete the steps set out below to obtain a verified status. The procedures by which Oro Pay will require you to change your status and lift your limits may change, from time to time and the relevant information regarding the new methodologies will be provided to you. 6.2. Oro Pay is entitled to review all payment transactions and will do so in cases it deems to be of higher than normal risk. Such reviews will occur when Oro Pay has reasonable suspicion that the payment transaction may involve a restricted or prohibited activity, or any other reason that may be determined by Oro Pay from time to time. When a payment is reviewed, Oro Pay will execute the Client instruction to make the payment but hold the release of the e-money to the intended recipient. This action means that the Client’s account will be debited the amount but the recipient’s account will not be credited, resulting in a suspense balance. If the transaction involves a purchase, Oro Pay will notify the seller to hold off dispatching the item(s) until Oro Pay concludes the review and allows the transaction to be completed. 6.3. Should the transaction be deemed as problematic, Oro Pay will reverse the payment and place the e- money back to the sender’s balance. Oro Pay will provide notices to you by email. A payment is subject to review for the sole purpose of minimizing Oro Pay’s risk as well as its Clients’ transaction dealings. Oro Pay does not intent with this process to review the involved parties’ business relations, their reputation and should not be construed as demeaning or discriminant in any way. 6.4. The receipt of e-money is only concluded after the Client accepts it, at which point Oro Pay clears the balance in the account and makes it available for other payment or withdrawal transactions. Notifications from Oro Pay that you are the recipient of e-money do not constitute a confirmation that the balance has been cleared and has become available. You acknowledge and agree that a payment transaction is completed and received by you upon acceptance even if it becomes subject to a Reversal for reasons stated in this Agreement or its updates/amendments as it may be updated/amended from time to time. 6.5. Invalidation of a transaction by means of reversal or cancelation, or suspension of a transaction does not release you from any liability towards Oro Pay and you will remain liable for any amount due to Oro Pay plus any Fees that relate to the payments. 6.6. As a seller, you agree not to surcharge for the use of Oro Pay unless the applicable laws allow you to do so. Should you charge a client a surcharge fee, Oro Pay will be no party to such charge and you agree to inform the purchaser directly of the charge clearly stating that you as the seller and not Oro Pay is charging the surcharge. It is not Oro Pay’s responsibility to inform and where you fail to inform the purchaser of the surcharge details, Oro Pay will assume no responsibility and will have no liability towards any purchaser as a result of the omission. You further acknowledge that failure to disclose such surcharge to the purchaser when permitted, may constitute a criminal and/or civic offense. 6.7. A recipient can receive funds in any currency allowed by Oro Pay irrespective of the currency maintained in the account at the time of the receipt for as long as the payment is accepted. In such instances, Oro Pay will credit your balance with the amount in the currency it was sent. Oro Pay does not offer currency conversion service at this time, and you acknowledge and agree that where you hold balances in multiple currencies, at time of withdrawal, your receiving funding source may cause you to convert the currency balances to the reference currency of the funding source’s account. This may lead to additional charges not relating to Oro Pay and its Service and for which Oro Pay is not responsible for. Contact your funding source directly to inquire about such potential charges and their currency conversion policy. 6.8. Oro Pay is not responsible to determine any applicable taxes relating to your transaction, nor is it responsible to collect, report and remit any taxes arising from any transaction. You agree that it is your sole responsibility to determine the applicable taxes relating to a transaction and further to collect, report and remit tax balances arising from any transaction to the relevant tax authority.
Appears in 3 contracts
Samples: General Client Agreement, General Client Agreement, General Client Agreement
MONEY RECEIVING. Anyone can start a payment process to remit funds to your Oro Pay account irrespective of having an Oro Pay account themselves or not. You – the Client – have the right to accept or decline receipt of the payment from the other party. All incoming payments, where the Virtual IBAN is used as payment detail, are automatically credited to your Oro Pay account. A periodic receipt limit may be imposed on your Account either by requirement of the anti- money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the money laundering law or any other law or directive that is relevant to Oro Pay’ jurisdiction of authorization. Any such limits set can be viewed in your account details.
6.1. There are at least two receipt limits imposed on all accounts. To lift your initial receipt limit, you must complete the steps set out below to obtain a verified status. The procedures by which Oro Pay will require you to change your status and lift your limits may change, from time to time and the relevant information regarding the new methodologies will be provided to you.
6.2. Oro Pay is entitled to review all payment transactions and will do so in cases it deems to be of higher than normal risk. Such reviews will occur when Oro Pay has reasonable suspicion that the payment transaction may involve a restricted or prohibited activity, or any other reason that may be determined by Oro Pay from time to time. When a payment is reviewed, Oro Pay will execute the Client instruction to make the payment but hold the release of the e-money to the intended recipient. This action means that the Client’s account will be debited the amount but the recipient’s account will not be credited, resulting in a suspense balance. If the transaction involves a purchase, Oro Pay will notify the seller to hold off dispatching the item(s) until Oro Pay concludes the review and allows the transaction to be completed.
6.3. Should the transaction be deemed as problematic, Oro Pay will reverse the payment and place the e- money back to the sender’s balance. Oro Pay will provide notices to you by email. A payment is subject to review for the sole purpose of minimizing Oro Pay’s risk as well as its Clients’ transaction dealings. Oro Pay does not intent with this process to review the involved parties’ business relations, their reputation and should not be construed as demeaning or discriminant in any way.
6.4. The receipt of e-money is only concluded after the Client accepts it, at which point Oro Pay clears the balance in the account and makes it available for other payment or withdrawal transactions. Notifications from Oro Pay that you are the recipient of e-money do not constitute a confirmation that the balance has been cleared and has become available. You acknowledge and agree that a payment transaction is completed and received by you upon acceptance even if it becomes subject to a Reversal for reasons stated in this Agreement or its updates/amendments as it may be updated/amended from time to time.
6.5. Invalidation of a transaction by means of reversal or cancelation, or suspension of a transaction does not release you from any liability towards Oro Pay and you will remain liable for any amount due to Oro Pay plus any Fees that relate to the payments.
6.6. As a seller, you agree not to surcharge for the use of Oro Pay unless the applicable laws allow you to do so. Should you charge a client a surcharge fee, Oro Pay will be no party to such charge and you agree to inform the purchaser directly of the charge clearly stating that you as the seller and not Oro Pay is charging the surcharge. It is not Oro Pay’s responsibility to inform and where you fail to inform the purchaser of the surcharge details, Oro Pay will assume no responsibility and will have no liability towards any purchaser as a result of the omission. You further acknowledge that failure to disclose such surcharge to the purchaser when permitted, may constitute a criminal and/or civic offense.
6.7. A recipient can receive funds in any currency allowed by Oro Pay irrespective of the currency maintained in the account at the time of the receipt for as long as the payment is accepted. In such instances, Oro Pay will credit your balance with the amount in the currency it was sent. Oro Pay does not offer currency conversion service at this time, and you acknowledge and agree that where you hold balances in multiple currencies, at time of withdrawal, your receiving funding source may cause you to convert the currency balances to the reference currency of the funding source’s account. This may lead to additional charges not relating to Oro Pay and its Service and for which Oro Pay is not responsible for. Contact your funding source directly to inquire about such potential charges and their currency conversion policy.
6.8. Oro Pay is not responsible to determine any applicable taxes relating to your transaction, nor is it responsible to collect, report and remit any taxes arising from any transaction. You agree that it is your sole responsibility to determine the applicable taxes relating to a transaction and further to collect, report and remit tax balances arising from any transaction to the relevant tax authority.
Appears in 2 contracts
MONEY RECEIVING. Anyone can start a payment process to remit funds to your Oro Pay OROPAY account irrespective of having an Oro Pay OROPAY account themselves or not. You – the Client – have the right to accept or decline receipt of the payment from the other party. All incoming payments, where the Virtual IBAN is used as payment detail, are automatically credited to your Oro Pay account. A periodic receipt limit may be imposed on your Account either by requirement of the anti- money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the money laundering law or any other law or directive that is relevant to Oro PayOROPAY’ jurisdiction of authorization. Any such limits set can be viewed in your account details.
6.15.1. There are at least two receipt limits imposed on all accounts. To lift your initial receipt limit, you must complete the steps set out below to obtain a verified status. The procedures by which Oro Pay OROPAY will require you to change your status and lift your limits may change, from time to time and the relevant information regarding the new methodologies will be provided to you.
6.25.2. Oro Pay OROPAY is entitled to review all payment transactions and will do so in cases it deems to be of higher than normal risk. Such reviews will occur when Oro Pay OROPAY has reasonable suspicion that the payment transaction may involve a restricted or prohibited activity, or any other reason that may be determined by Oro Pay OROPAY from time to time. When a payment is reviewed, Oro Pay OROPAY will execute the Client instruction to make the payment but hold the release of the e-money to the intended recipient. This action means that the Client’s account will be debited the amount but the recipient’s account will not be credited, resulting in a suspense balance. If the transaction involves a purchase, Oro Pay OROPAY will notify the seller to hold off dispatching the item(s) until Oro Pay OROPAY concludes the review and allows the transaction to be completed.
6.35.3. Should the transaction be deemed as problematic, Oro Pay OROPAY will reverse the payment and place the e- e-money back to the sender’s balance. Oro Pay OROPAY will provide notices to you by email. A payment is subject to review for the sole purpose of minimizing Oro PayOROPAY’s risk as well as its Clients’ transaction dealings. Oro Pay OROPAY does not intent with this process to review the involved parties’ business relations, their reputation and should not be construed as demeaning or discriminant in any way.
6.45.4. The receipt of e-money is only concluded after the Client accepts it, at which point Oro Pay OROPAY clears the balance in the account and makes it available for other payment or withdrawal transactions. Notifications from Oro Pay OROPAY that you are the recipient of e-money do not constitute a confirmation that the balance has been cleared and has become available. You acknowledge and agree that a payment transaction is completed and received by you upon acceptance even if it becomes subject to a Reversal for reasons stated in this Agreement or its updates/amendments as it may be updated/amended from time to time.
6.55.5. Invalidation of a transaction by means of reversal or cancelation, or suspension of a transaction does not release you from any liability towards Oro Pay OROPAY and you will remain liable for any amount due to Oro Pay OROPAY plus any Fees that relate to the payments.
6.65.6. As a seller, you agree not to surcharge for the use of Oro Pay OROPAY unless the applicable laws allow you to do so. Should you charge a client a surcharge fee, Oro Pay OROPAY will be no party to such charge and you agree to inform the purchaser directly of the charge clearly stating that you as the seller and not Oro Pay OROPAY is charging the surcharge. It is not Oro PayOROPAY’s responsibility to inform and where you fail to inform the purchaser of the surcharge details, Oro Pay OROPAY will assume no responsibility and will have no liability towards any purchaser as a result of the omission. You further acknowledge that failure to disclose such surcharge to the purchaser when permitted, may constitute a criminal and/or civic offense.
6.75.7. A recipient can receive funds in any currency allowed by Oro Pay OROPAY irrespective of the currency maintained in the account at the time of the receipt for as long as the payment is accepted. In such instances, Oro Pay OROPAY will credit your balance with the amount in the currency it was sent. Oro Pay OROPAY does not offer currency conversion service at this time, and you acknowledge and agree that where you hold balances in multiple currencies, at time of withdrawal, your receiving funding source may cause you to convert the currency balances to the reference currency of the funding source’s account. This may lead to additional charges not relating to Oro Pay OROPAY and its Service and for which Oro Pay OROPAY is not responsible for. Contact your funding source directly to inquire about such potential charges and their currency conversion policy.
6.85.8. Oro Pay OROPAY is not responsible to determine any applicable taxes relating to your transaction, nor is it responsible to collect, report and remit any taxes arising from any transaction. You agree that it is your sole responsibility to determine the applicable taxes relating to a transaction and further to collect, report and remit tax balances arising from any transaction to the relevant tax authority.
Appears in 1 contract
Samples: General Client Agreement
