LOADING

Terms & Conditions – Personal Account

These terms and conditions govern the relationship between:
Paymix Ltd trading as "Prospero" under company registration number C. 55838 with registered office at The Penthouse, JPR Buildings, Triq taz-Zwejt, San Gwann SGN 3000, Malta, a Financial Institution Authorised by the Malta Financial Services Authority under the Financial Institution Act 1994, for the issuing of electronic money and the provision of payment services, ("Prospero", "We", "Us, "Our"), and You (the Prospero Account holder).
These terms and conditions explain Prospero obligations to You and Your obligations to Prospero.
The following documents are incorporated into and form part of these Terms and Conditions:
  The Registration Form;
  these Terms and Conditions, together with any additional terms and conditions which apply in relation to any of other services Prosperomay provide to You;
  any fee or tariff sheet referred to in Our Website where applicable; and
  any Operating Instructions, information sheets or manuals relating to various aspects of the Services which are issued by Prosperofrom to time to time.
These terms and conditions become effective on the Operative Date in accordance with the Provisions herein.
Prosperoreserves the right to suspend, cancel, add, modify or delete any term and condition in connection with Your Personal Account and to amend its fees or tariff sheet. Prosperowill provide You with 60 days’ written notice before amending any term and condition. You reserve the right to cancel Your Personal Account and immediately terminate the Agreement without incurring any fees for doing so provided that You notify Us in writing or by contacting Our customer services within the said 60 days. If You do not accept the change, the provisions of Clauses 13 and 16 below will apply. If You do not notify Us within the said 60 days, then You will be deemed to have accepted the amendments to the terms and conditions and these will take effect.
At Registration, Prosperoconsider that these terms and conditions are read, understood and accepted by You. In accepting these terms and conditions You are also agreeing to the Fee or tariff sheet referred to on Our Website.
Every Registration is considered individually and the provision of these Terms and Conditions do not guarantee or imply acceptance by Prosperoof any Registration. Prosperoreserve the right to reject a registration should it be considered appropriate to do so.

Definitions and interpretation


The following terms shall (unless the context otherwise requires) have the meanings ascribed below:
  "Agreement": means the agreement entered into between Prosperoand You in accordance with these Terms and Conditions and any terms and conditions applying to any of the Services, as applicable;
  "BIC": means a Bank Identifier Code;
  "EEA": means the European Economic Area;
  "Group Company": means in respect of a party, any undertaking which, directly or indirectly controls or is controlled by such party or an undertaking which, directly or indirectly, controls or is controlled by any aforementioned undertaking;
  "IBAN": means an International Bank Account Number;
  "Instruction": means any instruction given to Prosperoby You, as referred to in Clause 6;
  "Operative Date": means the date upon which Your Personal Account is opened;
  "Online Portal" means the online management system made available by Prosperoon the Website and accessible by You which enables You to manage the information and functionality relating to Your Personal Account;
  "Operating Instructions": means any operating instructions as communicated to You by Prosperofrom time to time, setting out the procedures, information and instructions which You must follow in connection with the Services;
  "PEP (Politically Exposed Person)": means all persons who fulfil a prominent public function. For the purposes of the definition of 'political exposed persons' –
The term 'have been entrusted with prominent public functions' shall include the following:
    Heads of State, Heads of Government, Ministers and Deputy and Assistant Ministers and Parliamentary Secretaries;
    Members of Parliament;
    Members of the Courts or of other high-level judicial bodies whose decision are not subject to further appeal, except in exceptional circumstances;
    Members of courts of auditors, Audit Committees or of the boards of central banks;
    Ambassadors, charges d’affaires and other high ranking officers in the armed forces;
    Members of the administrative, management or boards of State-owned corporations.
    Where applicable, for the purposes of subparagraphs (i) to (v), shall include positions held at the Community or international level. But shall exclude middle ranking or more junior official positions.
The term 'immediate family members' shall include the following:
    The spouse, or any partner recognized by national law as equivalent to the spouse;
    The children and their spouses or partners; and
    The parents.
The term ‘persons known to be close associates’ shall include the following:
    A natural person known to have joint beneficial ownership of a body corporate or any other form of legal arrangement, or any other close business relations with that politically exposed person;
    A natural person who has sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of that politically exposed person."Personal Account": means Your E-wallet account which shall be provided to you as an Individual Customer/Natural person in accordance with these Terms and Conditions;
  "Person" means any individual and/or natural personal;
  "Registration": means Your registration to Us for the provision of any of the Services (and " Registration Form" shall be construed accordingly);
  "Regulation": means all laws, acts, regulations, orders and directives and all codes of practice and guidance issued by government agencies, self-regulatory bodies and trade associations (whether or not having the force of law) applicable to the conduct of Our or Your businesses or in connection with their rights and obligations under these Terms and Conditions;
  "Rules": means the applicable rules, regulations and operating guidelines relating to your Personal Account;
  "Transaction: means a payment transaction issued by a payee or payer to place, transfer or withdraw funds;
  "Website": means Our website which is available at yourprospero.com;
  "Working Day": means Monday to Friday, excluding Bank Holidays; and
  "You": means the Person which has applied for the Services and been accepted by Us as a customer.
In these Terms and Conditions (unless the context otherwise requires):
  the words "including" and "include" and words of similar effect shall not limit the general effect of the words which precede them;
  references to the Agreement, Terms and Conditions and any other agreement, contract or document (including the Rules) shall be construed as a reference to it or them as varied, supplemented or novated from time to time;
  words importing the singular shall include the plural and vice versa;
  words importing any gender shall include a reference to each other gender; and
  references to a numbered clause or paragraph are to a clause of these Terms and Conditions or paragraph of the schedule so numbered.
The headings in these Terms and Conditions are for convenience only and shall not affect their construction or interpretation.

Our obligation


Notwithstanding any Registration Form submission, Prosperoshall not be obliged to provide any Service unless and until We notify You in writing that We have accepted your Registration and Your Personal Account been activated as a result.
The Services shall be provided in return for the fees and upon and subject to the provisions of these Terms and Conditions.
The Services shall be provided with reasonable care and skill and in accordance with all applicable laws and regulations (including the Rules and the Operating Instructions).

Term


You acknowledge and accept that Your Personal Account does not expire and that no interest shall accrue in favour of Your monies that are held on Your Account.

Services


Our Services shall include the services provided by Prosperoin respect of the Personal Account, together with any other Services which may be requested by You and agreed to by Prosperofrom time to time.

Opening Your Personal Account


Identity Verification
On Registration, You will be asked for your identity and other personal details. Prosperohas established special verification systems involving your bank account or payment card to prove your identity. To safeguard the integrity of our payment system, your Personal account will also be subject to periodic transaction limits depending on your user status.
Depending on your user status, You may also find that you are asked to confirm your identity and provide additional personal details and supporting documentation. While our identity verification procedures are designed to minimise any inconvenience for you, the verification process may take several days to complete depending on the timely receipt of the original documentation requested by us.
Why do we need to carry identity verification?
We are required by the Prevention of Money Laundering and Funding of Terrorism Act ("PMLFTA") to verify Your identity and address. This helps to protect Our customers and members of the public against fraud, combat Money Laundering and Funding of Terrorism and prevent misuse of Our systems.
The PMLFTA requires that We:
  Verify your identity and address;
  Keep full records of all transactions together with identification provided;
  Monitor any unusual or suspicious transactions of any size;
Report to the Financial Intelligence Analysis Unit (FIAU) any suspicious transaction.
If We are unable to verify identity through an electronic search, or would require further documentation according to individual circumstances, We will contact You and ask You to provide such documents and You agree to provide such documents.
Politically Exposed Persons ("PEP")
At Registration, You warrant that You are not a PEP or an immediate family member or a close associate of a PEP and You shall immediately inform Us as soon as You become a PEP or an immediate family member or a close associate of a PEP.
Additional Information
We also have an obligation to maintain up to date identification for all Our customers. This means that We may require additional information from time to time, even for customers who currently receive or have previously received services from Us and You will, upon request, provide such additional information.

Payment Instructions


All Instructions given by You shall be logged through the online portal. Such Instructions will be actioned in accordance with the time periods set out herein and as soon as reasonably possible after the Instruction is received.
Transactions are regarded as authorised by You where You confirm the execution of a Transaction on Your Account. Our online portal will provide you with a second Authentication level at login stage and when executing payments. You need to follow the instructions provided to You with such additional security measures.
Where We reasonably believe that an Instruction purporting to come from You has not been properly authorised by You or that any other breach of security has occurred in relation to Your Use of the Services, we reserve the right not to act, or to delay acting upon the Instruction and, in that event, We will inform You as soon as reasonably practicable. Prosperowill not have any liability to You if You suffer loss as a result of Our decision not to act or to delay in acting on an Instruction in these circumstances.
You shall ensure that all Instructions sent to Us are complete and accurate. Prosperowill not be liable for any loss if an Instruction is not actioned or is actioned incorrectly due to inaccurate or incomplete Instructions or if an Instruction is not received by Us.
You may request Us to cancel or modify any Instruction but We are only required to use reasonable efforts to comply with such request. Prosperowill not be liable for any failure to cancel or modify such an Instruction.
We may refuse, at Our discretion and without liability, to act or delay acting on Your Instruction if it is a request or Instruction, the effect of which would be to exceed a general limit imposed by Us in relation to Your Personal Account.
You should ensure that Your Monies in your Personal Account are sufficient to cover the payment You intend to make as well as any applicable fees. We shall refuse an informal overdraft request that would cause Your Personal Account to go overdrawn.
You shall indemnify and keep Us indemnified against all actions, proceedings, costs, loss or damage of any kind We and Our subsidiaries and associate undertakings may suffer as a result of acting on Your Instructions in relation to the Services or as a result of Your failure to comply with Your obligations under these Terms and Conditions.

Payments to Your Personal Account


Depending on Your verification status, the following loading channels are available for payment to Your Personal Account:
  Bank transfers from other bank accounts held with other credit institutions in Your or third party name depending on Your level of due diligence, for which You must provide Your credit institution with ProsperoBIC & IBAN and Your Business account number as reference;
  Credit/Debit cards issued in Your name by other credit institutions/issuers;
  Transfers from other ProsperoE-wallet accounts; and
  Other payment methods available in Your country of residence.
Where the Loading channels are payment services provided by third party financial institutions, we do not guarantee the use of any particular loading channel made available, and may make changes to or discontinue the acceptance of any particular loading channel at any time by giving you notice in accordance with Clause 13.
If You choose a loading channel that may be subject to chargeback rights such as (but not limited to) credit or debit card or direct debit, You declare that You will not exercise such chargeback right other than for a breach by Us of this Agreement which would result in You having a right to a refund of the loaded / reloaded amount. Otherwise, You may not charge back any loading transaction or allow a chargeback of any such transaction for reasons for which We are not responsible including (but not limited to) disputes with merchants for non-delivery of goods or services or insufficient balance on Your account. We reserve the right to charge You fees and expenses We incur in connection with such chargeback and any action undertaken to challenge the same. We may also charge You a chargeback fee per chargeback as referred to on Our Website, where applicable.
If a chargeback or reversal of a loading Transaction results in a negative balance on Your Account, You will be required to repay such negative balance by reloading sufficient funds into Your Personal Account. Failure to do so is a breach of this Agreement. Repayment of the negative balance is due immediately without notice. During such period when the Account is in negative balance and until You make the required repayment to Your Account We reserve the right to block Your Account and require repayment from You . To the extent that You do not reimburse Us within 2 Working Days following notification by Us, We reserve the right to charge you a Negative fee. We also reserve the right, at any time, to send You reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge You the expenses Prosperoreasonably incurs in connection with any debt collection or enforcement efforts.
You must not load Your Account through a credit/debit card issued by other credit institutions/issuers, if You are not the named holder of that card. We take any violation of this requirement very seriously and will treat any attempt to use a payment instrument of which You are not the named holder as a fraudulent act.
If You have applied for a Global Plus Personal Account, You must not load Your Account through a payment instrument if You are not the named holder of that payment instrument nor receive any funds from other third parties. If We are required to return funds loaded from a payment instrument that is not in Your name or funds received from third parties, We may charge a fee per loaded return as referred to on Our Website, where applicable.
You should be aware that loadings may be subject to loading limits due to security and legal requirements. These limits are set dynamically depending on Your verification status and the respective products You have applied for.
Payments received through Bank transfers will be credited to Your Personal Account on the following Working Day after funds are received by Prospero.
Loading through Credit/Debit cards issued in Your name by other credit institutions/issuers will be credited to Your Personal Account once the transaction is authorised by Your credit institution/issuer.
Transfers from other ProsperoE-wallet accounts will be credited to Your Personal Account on the same Working Day.
If a payment is (i) fraudulently or mistakenly paid into Your Personal Account or (ii) refused by any competent authorities or if We are obliged to return a payment to the payer for any reason after it has been credited to Your Personal Account, You agree that the amount of the payment may subsequently be deducted by Us. This may occur even if (i) the funds are included in Your Personal Account balance,(ii) You have used the funds to make a payment or (iii) You have transferred or withdrawn all or part of them. If the deduction of the payment from Your Personal Account would make Your Account go overdrawn, You acknowledge that the amount by which Your Account is in debit, shall constitute a debt owing by You to Us. Following notification by Us to You that You have a debit balance on Your Personal Account, You shall promptly reimburse such sum to Us and in any event within 2 Working Days of notification by Us. To the extent that You do not reimburse Us within 2 Working Days following notification by Us, We reserve the right to charge you a Negative fee. We also reserve the right, at any time, to send You reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge You the expenses Prosperoreasonably incur in connection with any debt collection or enforcement efforts.
You should be aware that payment paid into Your Personal Account can be reversed. We reserve the right to reverse a payment in cases where the Payer or the Payer’s bank has charged back or otherwise reversed (or is reasonable likely to charge back or otherwise reverse) a loaded or other payment which was used to fund the payment to You.

Payments from Your Personal Account


Payments from Your Personal Account can be made to a third party recipient through SEPA Credit Transfers and Electronic Fund Transfer or other methods notified to You from time to time.
We will process and be responsible for processing payments from Your Personal Account solely on the basis of the BIC, sort code or national bank code of the recipient’s bank and the recipient’s bank account number (or IBAN) included in the payment Instructions We receive from You, regardless of any additional information provided to Us.
If incorrect payment details have been provided, the payment may be delayed or credited to a wrong account and We will not be liable for any loss incurred by anyone and/or for any delay to the payment being made. In addition Prosperoreserve the right to charge You with a cancellations/repair fee plus a recharge of other third party banks.
Payment instructions will be processed by Prosperoas follows:
  SEPA Credit Transfers
    on the same day – for payments received on a Working Day by 16.00 CET; or
    on the following Working Day – for payments received after 16.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
  Non-SEPA Transfers
    on the same day – for payments received on a Working Day by 13.00 CET; or
    on the following Working Day – for payments received after 13.00 CET or on a day that is not a Working Day in Malta and/or the country of our counterparty banks.
SEPA credit transfers will be executed as a "Shared" ("SHA") payment instruction whereby You will bear charges applied by Us and the beneficiary bears charges applied by the beneficiary’s payment service provider.
For Non-SEPA transfers, You must indicate the person bearing the charges applied by other payment service providers. If You indicate "SHA", You will bear charges applied by Us and the beneficiary bears charges applied by the beneficiary’s payment service provider. On the other hand if You indicate "Borne by ordering customer" ("OUR"), You will bear charges applied by Us and by the other payment service provider. The respective charges by the other payment service provider will be debited to your Personal Account once communicated to Us by the other payment service provider.
We will give You prior notice of any National and/or Public Holidays during a particular calendar month.
Outward payments will be reflected in Your Personal Account on the next working day. Nevertheless, Your Personal Account available balance would be deducted with the payment amount.
Payments may be subject to payment limits due to security and legal requirements. You should ensure that Your limits are sufficient to cover the payment You intend to make as well as any applicable fees.
When executing transfers from Your Personal Account to another Personal Account held with Us, You should be aware that the recipient of a payment may also be subject to loading, spending and withdrawal limits and that this may affect the recipient’s access to the funds You intend to send.
Transfers from Your Personal Account to another Personal Account held with Us will be processed on the same day.

Liability


Except to the extent that loss or damage is caused directly by Prosperonegligence or wilful misconduct, and as otherwise set out in this Clause 9, Prosperowill not be liable to You for any loss or damage which You may suffer as a result of Your use of the Services.
Prosperowill not be liable to You or any third party for:
  any loss suffered if You give Prosperoan Instruction which is incorrect including but not limited to incorrect payment details;
  any loss of information, profit, goodwill, business or anticipated savings nor for any indirect loss or damage in each case whether reasonably foreseeable or not and even if Prosperohas been advised of the likelihood of such loss or damage and whether arising from negligence, breach of agreement or otherwise;
  any loss suffered if Prosperois prevented from or delayed in providing You with payment or other services due to Prosperocomplying with its other obligations under applicable law or Regulation or due to abnormal or unforeseeable circumstances beyond Prosperoreasonable control (which may include but is not limited to the action of any government or government agency, strikes or other industrial action not involving Prosperostaff, failure of third party equipment, interruption to third party power supplies and/or disruption to the international banking systems to and/or through which payments are sent); or
  any losses resulting from third party services outside Prosperoreasonable control (including, but not limited to, telephone and browser services or any act or failure to act by any other financial institution or third party), whether such services are used by You to access the Services or used by Prosperoin order to provide the Services or to comply with Your Instructions. We shall not be liable for errors, delays or failures in the transmission or receipt of Instructions.
Nothing in these Terms and Conditions shall limit Prosperoliability for death or personal injury resulting from its negligence.
You are responsible for the security of any information which You communicate to Prosperoin the course of using the Services.
You are liable for any telephone or other communication charges and any charges made by Your internet service provider or any third party as a result of its use of the Services.
You shall be liable, without limitation or exclusion, to Prosperofor any loss suffered by Us as a result of Your breach of these Terms and Conditions or through your negligence.
We will be responsible for losses resulting directly from payments which You tell Us that You have not authorised unless You have acted fraudulently or You have allowed an unauthorised person to give payment instructions or You have not immediately notified Us and/or changed Your password when You become aware of any breach of security relating to Your Personal Account.
For the avoidance of doubt, You are liable without any limit for all losses relating to payments where You have acted fraudulently or failed to comply with these Terms and Conditions.
You shall indemnify and keep Prosperoindemnified against all actions, proceedings, costs, loss or damage of any kind Prosperoand any of Our subsidiaries and associate undertakings may suffer as a result of acting on Your instructions in relation to the Services or as a result of the Your failure to comply with Your obligations under these Terms and Conditions.

Safeguarding of Assets


As per article 10B of the Financial Institutions Act, Prosperoshall safeguard all funds received from payment services users or in exchange for electronic money that has been issued.
Such funds held by Prospero, shall be deposited in a separate bank account in a credit institution domiciled in a reputable jurisdiction.
You acknowledge that the Maltese Deposit Guarantee Scheme does not cover electronic money issued by Us or claims made in connection with the issuing of electronic money.

Force Majeure


Prosperoshall not be responsible or liable for any losses arising out of any delay in or interruption of the performance of its obligations under this Agreement due to any act of God, act of governmental authority, act of the public enemy or due to war or terrorism, the outbreak or escalation of hostilities, riot, civil commotion, insurrection, labour difficulty in relation to a third party (including, without limitation, any strike, or other work stoppage or slow down), severe or adverse weather conditions, communications line failure, or other similar cause beyond the reasonable control of Prosperoso affected at the time such causes arise ("Force Majeure Event"). Prosperoshall be excused from its performance of its obligations for the duration of such Force Majeure Event provided that it shall at all times use all reasonable endeavours to mitigate the effects of such Force Majeure Event. If a Force Majeure Event continues for a period exceeding fifteen (15) consecutive Business Days then You will be entitled to terminate this Agreement without further charges.

Fees


Our fees for providing the Services to You are set out on Our Website and You agree that they may be deducted from Your Personal Account either when the Services are provided or at the end of the applicable charging period (as appropriate).
We may amend Our fees at any time in accordance with Clause below.

Variation of terms and conditions

Except as is otherwise set out herein, Prosperomay, at its discretion, amend these Terms and Conditions at any time (including amendments and additions to Our fees).
Where amendments are made in order to comply with the Rules or any Regulation, Prosperomay implement such amendments prior to notification to You.
If Prosperoapply a change that is in Your favour, Prosperowill apply the change immediately and notify You via Our online portal or in writing. If Prosperowish to make a change that is not in Your favour, Prosperowill provide You with at least 60 days notice in writing.
Prosperomay upgrade Your Personal Account or enhance the Services provided to You at any time where You will incur no extra cost and Prosperoconsider this to Your advantage.
Prosperomay from time to time adjust the content and interfaces of the Services. If such adjustments lead to a change in software, interfaces or operating procedures, Prosperoshall notify You as soon as reasonably practicable prior to the implementation of such adjustments.
If You do not agree to changes to these Terms and Conditions which are unfavourable to You, You have a right to close your Personal Account or terminate this Agreement, where applicable. If You do not write to Prosperoto close your Personal Account or terminate the Agreement on these grounds, Prosperoare entitled to assume You have accepted the changes to the Terms and Conditions on the lapse of the 60 day notice.
For the avoidance of doubt, these Terms and Conditions will not be deemed to be or be interpreted as having been amended as a result of any oral communication between the Parties or as a result of any practice between the Parties.

Statements


Statements (including such information relating to payments made out of the Business Account as is required under the Central Bank Of Malta Directive No 1 – The Provision and Use of Payment Services) will be made available through Our Online Portal.
You are expected to check each statement and notify Us immediately of any errors or queries.
Through Our Onine Portal you may also generate on an ad hoc basis at Your request transaction history reports – for which no fees apply.

Contact


Prosperomay contact You by post, telephone, fax or email using the latest address, telephone number or email address You have given Us. It is Your responsibility to ensure that Prosperohave Your current contact details. If You do not inform Prosperopromptly of a change to Your details, the security of Your information could be put at risk.
If Prosperobelieve that there is any doubt about the address which You have provided, Prosperomay suspend the operation of Your Personal Account (without liability for the consequences of so doing) until Your address is confirmed to Our satisfaction.
We will contact only You as the holder of the Personal Account.
You can contact Us at the appropriate address and telephone number We give You, or by email. For further information You may visit Our Website.
We may record or monitor telephone calls and monitor electronic communications (including emails) between us so that Prosperocan check Instructions and make sure that Prosperoare meeting its service standards and complying with all applicable laws and Regulations.
We only provide information to You in the English language.

Closing Your Personal Account


Subject to Clause 16.3.2, You have the right to close Your Personal Account immediately by written notice to Us. In the event that You close Your Personal Account or if We close Your Personal Account for the reasons described in Clauses 16.2 and 16.3.1 prior to 12 months after Your Personal Account is opened, termination fees as set out on Our Website shall apply.
We may take action to close Your Personal Account immediately in exceptional circumstances such as if We reasonably believe that:
  You are not eligible for a Personal Account;
  You have given Us any false information at any time;
  You or someone else is using the Personal Account illegally or for criminal activity;
  Your behaviour means that it is inappropriate for Us to maintain Your Personal Account;
  Your conduct in relation to Your Personal Account has been consistently unacceptable.
  by maintaining Your Personal Account We may break a law, regulation, code or other duty which applies to Us;
  by maintaining Your Personal Account We may damage Our reputation; or
  You have been in serious or persistent breach of this agreement or any additional conditions which apply to Your Personal Account.
In addition to Our rights to close Your Personal Account set out above, We may also close Your Personal Account where:
  any minimum balance in place from time to time of the Personal Account has not been maintained or your account has been dormant in accordance with Clause 17; or   You do not accept a change which is unfavourable to You, of which notice has been given in accordance with Clauses 11 above. You should tell Us in writing before the lapse of the said notice period. Telling Us that You do not accept the change will be deemed to be Your request to close Your Personal Account immediately and without any additional fees for closing Your Personal Account.
When Your Personal Account is closed it is Your responsibility to cancel any direct payments to Your Personal Account. Where someone attempts to make a payment into a Personal Account which has been closed, Prosperowill take reasonable steps to return the payment to the sender.
If Prosperowant You to close the Personal Account We will write to You specifying the period of time within which You are required to comply with this request. If, at the end of that period the Personal Account has not closed, We will be entitled to refuse to accept any more payments into the Personal Account and may return any existing balance to You.
Other than in the circumstances mentioned above in clauses 16.2 and 16.3, We will not close Your Personal Account without giving at least 2 months’ notice.
We will return any funds to You within 30 calendar days of the Personal Account closure (unless they are reasonably required by Us as security against any liability owed by You to Us).
You agree to repay any amounts You owe Us which have not been taken out of Your Personal Account at the date of closure, and any charges incurred.

Blocking/Dormant Accounts


We may take action to block Your Personal Account immediately in the following circumstances:
  If We reasonably believe that an Instruction purporting to come from You has not been properly authorised by You or that any other breach of security has occurred in relation to Your Use of the Services;
  If your account has been dormant and there have been no Transactions (excluding all and any fees and charges that may apply) for a period of at least 6 months, we reserve the right to block it and list your account as a dormant account;
  If at any time the sum of all credits exceeds the maximum loading limits per calendar year assigned to your Personal Account by Us.
Except for Clause 17(c), You can reactivate your blocked account upon contacting and providing clear instructions to Our Customer support.

Confidentiality


We will take reasonable care to ensure that information Prosperohold about You is not disclosed to anyone, except where:
  Prosperois required to disclose information to Our Group Companies, professional advisers employees, officers, sub-contractors and agents (on a need to know basis);
  Prosperois required to disclose information in connection with the sale, acquisition or restructuring of Our Group Companies, provided that the recipient of the information uses it for the same or similar purposes for which it was supplied or used by Us;
  Prosperois legally required to disclose;
  Prosperohas a public duty to disclose;
  Our legitimate business purposes require disclosure;
  the disclosure is made with Your consent; or
  it is disclosed in accordance with Clause 19 below and such other provisions of these Terms and Conditions.

Information and information sharing


We accept responsibility for information You provide to Us, upon receipt of such information.
Prosperomay refuse to accept information from You where the requirements specified in any instructions issued by Us from time to time are not satisfied and Our processing of the information shall not preclude Us from subsequently requiring its replacement, deletion or correction.
If You contact Prosperovia email, We may collect Your electronic identifier (for example, Internet Protocol (IP) address or telephone number) supplied by Your service provider.
Prosperomay share information which We receive from You during our initial assessment, with such associated organisations as is necessary for the purposes of providing the Services.
Prosperoreserve the right to pass information about You or Your Personal Account to third parties for administrative purposes, fraud prevention or where We are required to do so by law.
Prosperohas legal obligations regarding the detection, reporting and prevention of fraud, money laundering and terrorist activity.
The Data Protection Act (CAP 440) protects individuals from improper use of information held about them. All personal information that You provide to Us will be treated as private and confidential even when You cease to be a customer.
You are entitled to enquire about information that Prosperoholds about You by making a request in writing to Our registered address.
You can request Prosperonot to receive any marketing materials from Us by emailing Us at the address shown on Our Website.
From time to time, Prosperomay change the way it uses Your information. Where Prosperobelieve that You may not reasonably expect such a change We shall notify You in writing. If You do not object to the change within 30 days, You will be taken to have consented to such change.
For further information as to how Prosperouses Your information You can refer to Our Privacy Policy .
The information which We collect from You may be transferred to, and stored at, a destination outside the European Economic Area ("EEA"). Information may also be processed by staff operating outside the EEA who work for Us or for one of its sub-contractors or suppliers in connection with the Terms and Conditions. Prosperoshall ensure that the adequate level of protection required by law is given to any of Your information which is transferred or processed outside of the EEA in accordance with this Clause. We accept responsibility for information You provide to Us, upon receipt of such information.

Security


You should make all reasonable attempts to protect Your Personal Account. If You change any of Your Personal details such as Your name or permanent residential address, please let Us know immediately in writing to Our trading address. We may require evidence of a change of address or name.
You must keep the password of Your Personal Account safe, secure and secret at all times and You must not disclose it to any other person including friends, family or work colleagues.
Where You suspect that a third party knows the log-in details or password to Your Account, or where such details have been lost, stolen, misappropriated, used without authorisation or have become compromised, You must immediately change it through Our Online Portal.
You must immediately notify Us if You become aware of any breach of security relating to Your Personal Account. Please contact Us by telephone on + 356 2247 0088 at the earliest opportunity and no later than the next Working Day. You will be required to confirm this in writing to Us. Any delay in notifying Us may result in You bearing all the losses resulting therefrom as further explained in Clause 9.
If You become aware of a transaction on Your Personal Account which You have not authorised, please contact Us by telephone on + 356 2247 0088 in the first instance at the earliest opportunity.

Assignment and subcontracting


This Agreement is personal to You and You may not assign it or transfer any rights in relation to Your Personal Account or any of Your rights under it without Our consent.
The electronic money on the Personal Account belongs to the person or legal entity which is registered as the Account holder. No person, other than in the event of succession, has any rights in relation to the funds held in the Personal Account other than the Account holder.
We shall be entitled to assign or transfer the benefit of all or any of Our rights in relation to Your Personal Account and/or to sub-contract all or any of Our obligations herein to any Person at any time.

Governing law and jurisdiction


These Terms and Conditions and any matter arising from or in connection with Your Business Account shall be governed by and construed in accordance with Maltese law.
We and You irrevocably agree that, for Our benefit only, the Maltese courts shall have exclusive jurisdiction over any claim or matter arising from or in connection with Your Personal Account, or the legal relationships established by or in connection with it. Accordingly, any proceedings by or against Us in respect of such claim or matter must be brought in the Maltese courts, but We shall not be prevented from taking proceedings against You either in the Maltese courts or in any other court of competent jurisdiction. To the extent permitted by law, We may take concurrent proceedings in any number of jurisdictions.

Complaints


Our aim is to provide the highest possible standard of service to all Our customers. If, however, You wish to make a complaint about Our service or any other issue, please contact Us by submitting a complaint through the company’s website (yourprospero.com) using the ‘Contact Us’ tab. Alternatively, You can also call Our Customer Support on +356 2247 0099 during office hours and provide them with full details of Your complaint. We will then investigate the situation and try to resolve the issue as quickly as possible.
If You remain dissatisfied with Our full response regarding a Business Account or Our other Services, You can write to:
Consumer Complaint Unit
Malta Financial Services Authority
Notabile Road
Attard BKR 3000
Malta