T&Cs

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General

Specific Terms and Conditions – Pay Later

These Specific Terms and Conditions apply to transactions made through the wamo website at www.wamo.io and any subsidiary pages. They must be read and agreed to in full, together with the General Terms and Conditions for the UK https://wamo.io/terms-and-conditions/united-kingdom/ and the General Terms and Conditions for Europe https://wamo.io/terms-and-conditions/europe/ which apply to any agreement between us and your use of the Website in general.

2. DEFINITIONS

2.1. Account means the account designated to make payments under the Standing Order.

2.2. Instructions means the instructions given by the Payer for making payments under the Standing Order.

2.3. Payee means Wamo.io LTD, incorporated and registered in the United Kingdom under company registration number 12352849 and the registered office of which is at TECHNIQUE BUILDING 132-140 GOSWELL ROAD, UNIT 3, LONDON, EC1V 7DY.

2.4. Payer means the person granting the Instructions to, and entering into these terms with, Wamo.

2.5. Payment means the transfer of funds from the Account to the Payee on the basis of the Instructions.

2.6. Payment Date means the date/s for making the payments in terms of the Instructions.

2.7. Standing Order means a payment instruction given by the Payer for making regular payments from the Account to the Payee.

2.8. "Wamo" or "we" or "us" means Wamo Solutions Ltd, a private limited liability company registered under the Laws of Malta, having company registration number C 97355 and its registered office at Dragonara Business Centre, 5th Floor, Dragonara Road, St. Julians STJ 3141, Malta.

2. EXECUTION OF PAYMENTS

2.1. By accepting these terms, the Payer is instructing us to make payments from the Account to the Payee according to the Instructions. The Payer is also authorising us to automatically take out any fees due to us or third parties which may be applicable for the execution of the Payment.

2.2. We shall execute the payment on the Payment Date according to the Instructions.

2.3. The Payer undertakes to ensure that there are sufficient funds on the Account for the execution of each Payment and any applicable fees.

2.4. The Payer confirms and undertakes to ensure that there are no restrictions on the Account that prevent the execution of the Payment.

2.5. We shall reserve the right to charge additional administration or service fees as specified in the [Fees Schedule] in the event that funds available on the Account are not sufficient for the execution of the Payment and applicable fees and/or we are otherwise restricted from executing a Payment due to a reason not attributable to us.

2.6. We shall not be responsible for the failure to execute a Payment or for any costs or fees incurred by the Payer, in the event that such failure arises from a breach of duty or obligation by the Payer, including a breach of clauses 2.3 or 2.4 of these terms.

Wamo.Io LTD incorporated and registered in the United Kingdom under the company registration number 12352849 and the operational office of which is at WeWork, 199 Bishopgate, London EC2M 3TY. Wamo.Io LTD (Firm Reference Number 922901) is an EMD agent of PayrNet Ltd which is an Electronic Money Institution authorised by the FCA under the Electronic Money Regulations 2011 (EMR’s) with Firm Reference Number 900594.

Wamo Solutions Ltd is registered under the Laws of Malta with company registration number C97355 and registered office at Dragonara Business Centre, 5th Floor, Dragonara Road, St. Julians STJ 3141, Malta. Wamo Solutions Ltd is an EMD agent of UAB “PAYRNET” which is authorised by the Bank of Lithuania under the Law on Electronic Money and Electronic Money Institutions (authorization code LB001994, license reference 72).

The wamo card is issued pursuant to licence from Visa. UK issuance is conducted by PayrNet Ltd and EU issuance is conducted by UAB PayrNet. wamo operates the wamo.io website and the app. wamo is not a bank, the current account is an e-money account. Issuance of Electronic Money and payment services is provided by PayrNet Limited. The Financial Services Compensation Scheme does not cover electronic money products. No other compensation scheme exists to cover losses from your electronic money account. Your funds will be safeguarded in one or more segregated bank accounts with a regulated third party credit institution and not lent out, which gives you protection against insolvency, in accordance with the provisions of the Electronic Money Regulations 2011.

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