Terms and Conditions for Business Clients
- About OKEO
- Scope and Purpose
- Issuance and redemption of Electronic Money
- Account and Transfers management
- Initiation of Payment Orders
- Handling of errors in Payment Orders
- Execution of Payment Orders
- Additional rules on Accounts management
- Prohibited actions
- Client information
- Amendments. Validity. Termination
- Suspensions of Services
- Liability of the Parties
- Final provisionss
1. About OKEO
Okeo Payments UAB is a company incorporated and registered under the Law of Lithuania, with legal entity code
305219549, with registered address at Gedimino pr. 20, LT-01103 Vilnius, Lithuania, hereinafter referred to as OKEO.
OKEO is a holder of Electronic Money Institution License No.71.
The supervising authority overseeing activities of OKEO is the Bank of Lithuania (Gedimino pr. 6, LT-01103 Vilnius,
Lithuania, phone no.: +370 800 50 500, e-mail: [email protected], with more information
available at https://www.lb.lt/en/contacts).
The data about OKEO is collected and stored in the Register of Legal Entities of the Republic of Lithuania.
the Payment Transaction or other activity related to the Account is being conducted.
information addressed personally to him in a way accessible for future
reference for a period of time adequate to the purposes of
the information and which allows the unchanged reproduction of
the information stored.
the procedure established by OKEO.
prospective Clients, accessible via internet at https://join.okeo.com,
via which the Users and the prospective Users can apply for a registration
of new Client.
Summer Time (EEST, UTC+03:00) or Eastern European Time (EET or
Clients, accessible via internet at https://my.okeo.com after providing the
User Credentials and passing the Strong Customer Authentication, via
which the Users can check OKEO Account balances, initiate Payment
Transactions and use other Services.
Payment Account or on a payment account with another Payment Service
Provider, embracing execution of credit transfers, including standing
Issuing of Payment Instruments and/or acquiring of Payment
Operations required for operating a Payment Account.
the business relationship commencement with the Client is evaluated by
the Client, including:
a natural person who has a right to act on behalf of the Business Client
under articles of association or other similar document,
a natural person who has a right to act on behalf of the Business Client or
to use some of the Services available to the Client based on other
arrangements, e.g. power of attorney.
Clients, including the service of opening the Account in the name of
as knowledge (something only the user knows), possession (something
only the user possesses) and inherence (something the user is) that are
independent, in that the breach of one does not compromise
the reliability of the others, and is designed in such a way as to protect
the confidentiality of the authentication data.
The Strong Customer Authentication under the mechanism provided by
the OKEO System typically requires the User to type in the code (received
in SMS) in the My OKEO interface. The Strong Customer Authentication is
required to access My OKEO, confirm the Payment Transaction or
authenticate other sensitive operation in the System.
enables access and use of the Services.
Service User by the Payment Service Provider and to be provided by
the Payment Service User to identify unambiguously the other Payment
Service User and/or his payment account for a Payment Transaction.
System after successful Registration.
during which personal data of the User are saved, a login and Password
are set and the access rights of the User to the System are assigned.
Scope and Purpose
Business Clients and prospective Business Clients, and constitute general terms of electronic money
issuer (OKEO) and electronic money holder (the Client) agreement and the general payment services
the Republic of Lithuania, other applicable laws and the principles of reasonableness, fairness and good
as well as other documents governing the provision of the Services and the OKEO System interface are
provided in the English language.
means his/her consent to comply with them.
pass the Registration. The Registration is performed remotely according to the internal policies of OKEO,
and involves non-face-to-face identification measures, including those provided via the service provider
Ondato UAB (entity code 303342439).
interface via which the information regarding the prospective Client and related persons is provided to
the Account is given. During the Registration process OKEO may also require the identification of
the shareholders, directors, other Users or other physical persons related to the Client and provision of
the Services. By accepting the Terms and Conditions the Client and the Representative agree that
the aforementioned persons may be identified during the Registration process and consecutively after
the successful Registration, upon the OKEO request.
including the information regarding the Beneficial Owner(s) of the Client. OKEO has the right to request
additional information or documents related to the operations of the Client, during the Registration
process and consecutively after the successful Registration.
OKEO has the right to suspend the Client’s Registration process.
or related persons by itself or by using the services of third parties for the purpose of provision of the
set, the User is granted an access to the System and to the Services.
Issuance and redemption of Electronic Money
the money transferred to the Account, OKEO issues Electronic Money at the nominal value equal to the
transferred amount and credits (increases) Client’s Account balance with that amount.
interest on Electronic Money balance held on the OKEO Account or does not provide any other benefits
associated with the time period the Electronic Money is stored on the Account.
nominal value, except for the cases set forth in the Terms and Conditions or in the applicable laws.
transfer the Electronic Money from the Account to other account specified in the Payment Order.
for the Payment Transactions, shall be applied. The amount of redeemed Electronic Money is indicated
by the Representative, however cannot be higher than the available balance on the Account after
consideration of the related Fees.
behalf of the Client and requests closure of the Account, or OKEO terminates the provision of the Services
to the Client, Electronic Money held on the Client’s Account shall be transferred to the account within
other Payment Service Provider indicated by the Representative, provided that the Electronic Money can
be transferred to the indicated account under the payment schemas supported by OKEO.
the amounts that are owed to OKEO, e.g. Fees for Services provided by OKEO and other unpaid amounts,
including but not limited to, fines and damages incurred by OKEO due to the breach of the Terms and
Conditions or other obligations committed by the Client, which have been imposed by international
payment card organizations, other financial institutions or state institutions. In the event of a dispute
between OKEO and the Client, OKEO has the right to detain money under dispute until the dispute is
Account and Transfers management
Payment Transactions and other operations associated with the Account(s), including all applied Fees
deducted from the Client’s Account balance during a selected period of time.
System via My OKEO. After maximum five (5) attempts of unsuccessful logging to the System the User
Account is blocked and the User receives instructions how the access can be restored.
(or possibly becomes) known to the third parties, the User is obliged to immediately change the
Password. To further enhance the security the User is obliged to:
safe from the theft or unauthorized access by the third parties;
updated software installed to ensure the security of the devices and the networks being used
(e.g. antivirus software and firewalls);
or the devices/mobile numbers are lost, stolen or otherwise breached by the unauthorized third
parties, or he/she has become aware of any suspicious activity related to the OKEO System
different currencies available within OKEO Services. The list of currencies supported by OKEO under
the Account is indicated in the Product and Fee Terms.
for conversion of money from one currency to another currency. Each Client shall have at least one active
Account to have the access to the aforementioned Services.
Transfers from and to the Account may be executed on Client’s behalf:
Service Provider, provided that such account is reachable within the payment schemas
supported by OKEO.
and Fee Terms.
Order, i.e. it is lower than the sum of the Payment Transaction amount and the related Fees, the Payment
Transaction is not executed.
of third persons or other places by the Users logging into the System and identifying himself/herself in
this way are treated as conclusion and execution of an agreement between OKEO and the Client.
to the Client’s trade, business or profession and will not be used as a personal account of a user.
successful Strong Customer Authentication. Each time the Strong Customer Authentication is required,
the User is notified by the System.
any time and at his own discretion. The User may check the current limits via My OKEO. The Client will be
informed about the new limits entry into force via My OKEO interface or relevant notification channel
(e.g. via e-mail).
Clients and on the Electronic Money balances held on the Accounts. OKEO may charge additional Fees
for excessive Payment Transactions or excessive Account balances.
the Payees to which the Payment Transactions are forbidden according to the OKEO internal policies.
Initiation of Payment Orders
accordance with the instructions specified in the System and valid at the moment of the Payment Order
OKEO and submit it for execution. The following information must be provided by the User in
the Payment Order:
- Payment Transaction Beneficiary (Payee) name (including full name and surname – if the Payee
is a natural person, or full company name – if the Payee is a business entity),
- Payment Transaction Beneficiary (Payee) account (serving as Unique identifier),
- Payment Transaction amount,
- Payment Transaction currency,
- Client’s Account to be debited, in the form of IBAN number,
- Client’s Account currency (determining the currency balance to be debited),
- Description of the Payment Transaction.
The following information may be requested to be provided by the User in relation to the Payment Order:
- Payment Transaction Beneficiary (Payee) address,
- Documents related to the Payment Transaction (e.g. invoice constituting the basis for
authorization of the Payment Transaction in the System (e.g. via typing the code, received in SMS, in
My OKEO interface) is equivalent to giving consent to OKEO to execute the Payment Order. If additional
authorization is not required for a particular Payment Transaction (e.g. due to exemptions applicable for
Strong Customer Authentication procedure), confirmation of the Payment Order with a dedicated button
(e.g. “Send”) is equivalent to giving the consent to OKEO to initiate and execute the Payment Order.
execute the Payment Transaction and it cannot be cancelled, unless the execution of the Payment
Transaction has not been started. The status of the Payment Transaction shall be visible in My OKEO.
Handling of errors in Payment Orders
Payment Orders and their content, as set by the legal acts or payment organizations or by OKEO.
Payment Orders submitted on behalf of the Client shall be formulated clearly, unambiguously, shall be
executable and contain clearly stated will of the Client.
Payment Orders submitted on behalf of the Client, including but not limited to correctness of requisites
of the Payment Order submitted on behalf of the Client. If the Payment Order submitted on behalf of the
Client does not contain enough data or contains deficiencies, OKEO, regardless of the nature of
deficiencies in the Payment Order, can choose to either refuse to execute such Payment Order, or to
execute it in accordance with the data given in the Payment Order if technically possible.
according to the Payment Order placed by the User (e.g. the User indicates a wrong account number),
OKEO will make all reasonable efforts to trace the Payment Transaction and will seek to recover the funds
involved in the Payment Transaction. If it is not possible to recover the funds, it shall be considered that
OKEO has fulfilled its obligations properly and shall not repay the transferred amount to the Client. In
such case the Client’s Representative shall directly contact the person or the entity that has received the
Transfer regarding the return of the funds. OKEO, upon written request of the Representative, is obliged
to provide all relevant information about such Payment Transaction to the Representative on a Durable
Medium. OKEO may charge additional fees on the Client for funds recovery or Payment Transaction
has not been executed yet, the User may request cancellation of the Payment Order.
to the errors in the Payment Order or insufficient information, OKEO undertakes reasonable effort to
inform the User about possible issues with the Payment Transaction before it is initiated or, if the
Payment Transaction has been initiated, to track and inform the User about the Payment Transaction
in the Payment Order, the Payment Order may be cancelled and funds may be returned to the Client if it
is technically possible.
that has no legal basis, is obliged to notify OKEO about it immediately and not later than within 1 (one)
Business Days after noticing the wrongly credited money. The User has no right to dispose of the money
that does not belong to the Client. In such cases OKEO has the right and the Client gives an irrevocable
consent to deduct the money from the wrongly credited Account without the Client’s order. If the amount
of money on the Client’s Account is insufficient to debit the money credited by mistake, the Client
unconditionally commits to repay OKEO the money credited by mistake within 5 (five) Business Days from
the receipt of such request from OKEO.
Execution of Payment Orders
For the SEPA Transfers following general rules apply regarding the timeline of the Payment Orders execution::
- Payment Orders placed on the Business Days before 4:30 p.m. Local Time are executed the same
- Payment Orders placed on the Business Days after 4:30 p.m. Local Time are executed on the next
- Payment Orders placed on the days other than Business Days are executed on the first Business
Day after the day when the Payment Order was placed.
- Payment Orders placed on the Business Days before 2:00 p.m. Local (Summer) Time are executed the same Business Day,
- Payment Orders placed on the Business Days before 1:00 p.m. Local (Winter) Time are executed the same Business Day,
- Payment Orders placed on the Business Days after 2:00 p.m. Local (Summer) Time are executed on the next Business Day,
- Payment Orders placed on the Business Days after 1:00 p.m. Local (Winter) Time are executed on the next Business Day,
- Payment Orders placed on the days other than Business Days are executed on the first Business Day after the day when the Payment Order was placed.
Payment Transaction as stated in 9.7 and 9.8, the execution time might be longer than stated in 9.1, 9.2 and
Payment Transactions are executed according to the queue, with execution occurring either immediately
or as soon as preceding Payment Transactions are completed.
with OKEO, and to record and store information about all Payment Transactions performed on behalf of
the Client or otherwise affecting the balance of the Client’s Account. Records mentioned in this clause
may be submitted by OKEO to the Client or third persons, who have the right to receive such data under
the basis set forth in the applicable laws, as evidence confirming the submission of Payment Orders or
execution of Payment Transactions.
Payment Order has been submitted by the authorized Representative of the Client, or whether the
Payment Order or the submitted documents are legitimate. In such cases, OKEO has the right to demand
from the Client to additionally confirm the submitted Payment Order or submit documents confirming
the rights of persons to manage the funds held on the Account or other documents indicated by OKEO
in a way acceptable to OKEO and at expense of the Client. In cases mentioned in this point OKEO acts
with the aim to protect legal interests of the Client, OKEO or other persons. Thus, OKEO does not
undertake the responsibility for losses which may arise due to refusal of the execution of the Payment
Transaction related to the submitted Payment Order.
Client, OKEO has a right to demand from the Client documents which prove the legal source of money
related to the Payment Order. In case the Client does not submit such documents, OKEO has the right to
refuse to execute the Payment Transaction related to that Payment Order.
on behalf of the Client, if it is in the Client’s interest or the nature of the Payment Transaction requires
so. If the Payment Transaction requires sending and executing the Payment Transaction further by
another financial institution, but this institution suspends the Payment Transaction, OKEO is not
responsible for such actions of that financial institution, but makes attempts to find out the reasons for
the suspension of the Payment Transaction. OKEO has the right to suspend or terminate the execution
of the Payment Transaction of the Client, if required by law or in case it is necessary for other reasons
beyond the control of OKEO.
of the Client, OKEO shall immediately inform the Client thereon or create necessary conditions for the
Client to get acquainted with such notification, except when such notification is technically impossible or
forbidden by legal acts.
which the funds are arrested, or when the right of the Client to manage the funds on the Account is
otherwise legally limited, or in case operations are suspended by the applicable legal acts. This will not
apply for the specified amount of the Client’s funds which cannot be arrested or legally limited by the
applicable legal acts.
OKEO (e.g. inaccurate data in the Payment Order, the account of the Payee is closed, etc.), the returned
amount is credited to the Account of the Client. Fees paid by the Client for the Payment Transaction
execution are not returned. Other Fees related to returning of the money can be deducted from the
Client’s Account balance (e.g. additional fee might be charged for the currency conversion movements in case of the payment reversal, etc.).
appears suspicious in any way, and to charge the applicable Fees to the Client’s account. The Fees may
include the standard charges for a wire transfer or a SWIFT confirmation procedure to identify the
account number of the issuer and allocate the returned funds there. The Fee may vary depending on the
destination, currency and, if applies, foreign currency conversion rate.
directly related to the execution of the Payment Transactions, such as international payment card
organizations, companies processing information about payments by payment cards, the provider of
Payment Services of the Payee, the operator of the payment system for execution of the Payment
Transaction, intermediaries of the provider of Payment Services of the Client and the Payee, currency exchange providers.
information (e.g. name and surname or the title of the Payee, a payment code, a copy of
the identity document) and other documents necessary to ensure Anti-Money Laundering and
Counter Terrorism Financing implementation measures required for the appropriate execution
of the Payment Transaction
Payment Service Provider of the Payee the information (including personal data of the User) associated
with the Payment Order.
Additional rules on Accounts management
protection against possible risks and expenses associated with particular Accounts. OKEO notifies such
Clients of the requirement and the advance payment is only imposed with prior agreement by the Client.
additional expenses associated with the Account emerge after the Account has been closed,
OKEO may retain the advance payment for the period longer than 30 (thirty) calendar days.
OKEO also has a right to charge emerged expenses from the advance payment. If the amount
of the advance payment is not enough, OKEO might claim reimbursement of other expenses
appeared from the activity of the Client in the court.
any security threat, using e-mail, text message and, optionally, via telephone conversation.
and the basis of the underlying Payment Transaction with diligence and reasonable care, in order to
mitigate the risk of deception.
website or on a Durable Medium to a Client. Product and Fee Terms are considered an integral part of
these Terms and Conditions. In case of discrepancies between the Fees stated directly on the website
(i.e. its general content, e.g. home page) or other marketing materials and the Fees described in the
Product and Fee Terms, the content of the latter prevails.
frequency or time frame for charging any fees related to the Services. OKEO shall notify the Client of
these changes at least 60 (sixty) calendar days before the new or amended Fees take effect. Once
the notification is given, the Client has the right to withdraw from the contracts concluded with OKEO as
described in points 15.4 and 15.5.
possible to credit them to the Client’s Account.
the Client’s Account.
in the Product and Fee Terms.
the Payment Transactions or not.
Account and decrease its balance.
currency to cover all the Fees payable to OKEO. If the Client does not ensure sufficient funds to cover the
Fees payable to OKEO, OKEO may continue charging the Fees, including the penalty fees, or close the
Account without prior order or consent of the Client.
and commissions charged during previous calendar year. The statement is sent by OKEO via e-mail to
the e-mail address provided by the Client and visible in My OKEO. Upon the termination of the Terms
and Conditions the statement of the Fees and commissions is provided for the period since the beginning
of the calendar year until the day of agreement termination.
When using the Services or in connection to the Services, the Client and the User are forbidden from:
secrets and other intellectual property rights;
malfunctions, damage or distraction of information or cause other damage to the systems and
damage or distraction of information or cause other damage to the systems, equipment or
pornographic production, unlicensed lottery or illegal trade of software;
public order or good morals.
operations and the usage of the Services.
(e.g. messages sent to and available in My OKEO) is considered to be submitted properly and delivered
effectively to the Client and the User. It is considered that the Client has received communication within
24 hours since it has been made available in My OKEO.
OKEO, shall be performed in the Acceptable Language.
not provide the paper documents and does not use the seal.
submitted while Registration or at later stage, up to date and immediately, and not later than within 5
(five) Business Days since the change, inform OKEO about the change. If the User uses his telephone
number or e-mail address as a login to My OKEO, the term specified in this clause shall be replaced with
1 (one) Business Day with respect to this information.
documents or other proof underlying the change.
contact details as provided to OKEO and visible in My OKEO, unless such communication is performed
directly through the system enabled by OKEO (e.g. dedicated customer support system).
the Clients and the Users with non-confidential or not personally addressed information by publishing it
on the OKEO website.
Clients or Users about such change, unless it is a change to the Terms and Conditions, Product and Fee
documents related directly to Services.
Conditions, as well as any other information, related to the Services, on a Durable Medium in the format
selected by OKEO. Additionally, OKEO will provide information related to the Services on regular basis on
the OKEO website.
the possibility to familiarize with these Terms and Conditions by publishing its content directly on a
dedicated website (and giving the possibility to download the current version from the aforementioned
website) or providing it on a Durable Medium to a Client.
Conditions published on its website.
- provide any confidential information (e.g., passwords, PINs) over the phone or via email;
- connect remotely to the User’s device;
- open a link, leading to a domain other than okeo.com.
rules on protection of the personal data and other sensitive data related to the Clients. OKEO undertakes
to protect any Client-related information in accordance with the
the applicable laws.
and that they have familiarised themselves with its content.
between Clients and the OKEO staff, or between the Users associated with the Client and the OKEO staff,
in order to improve the quality of services or for the verification purposes.
secure. The Clients provide the information at their own risk.
Transactions and other operations related to the Account, as required by the applicable law. Closing of
the OKEO Account does not result in the disposal of such data, unless the Client or the User requests
such disposal in pursuit of his/her legal rights.
Amendments. Validity. Termination
These Terms and Conditions are subject to change from time to time in order to:
calendar days before intended changes. Information about the intended changes shall be communicated
to the Client and announced on the website of OKEO or communicated via e-mail.
OKEO free of charge by giving written termination notice to OKEO (e.g. via e-mail) before the new or
amended Terms and Conditions come into force. If the termination notice is not given before the new or
amended Terms and Conditions come into force, they are considered accepted by the Client.
days’ written notice (including via e-mail) to OKEO.
with a prior 30 (thirty) calendar days’ written notice (including via e-mail) to the Client. OKEO is not
to specify the reason.
agreements between the Parties, and cease provision of Services in the following cases:
internal rules of OKEO as reasons for the termination of the business relationship;
(free of charge, on a Durable Medium in the format selected by OKEO) with the Client’s Account Payment
Transactions’ history for the period of not less than 36 months (or for the whole term of the agreement
if it came into force less than 36 months before its termination). OKEO is not obliged to provide
information specified in this paragraph if the Client voluntarily refuses to receive such information
notifying OKEO about that on paper or on another Durable Medium before the termination of the Terms
Suspensions of Services
or several of the following measures:
Measures indicated in clause 16.1 can be applied in the following cases:
such violation took place;
sanctions or other negative consequences to OKEO;
clause 16.1, took place;
ownership of funds on the Account or that an interest in Client’s Account has been claimed by
a third party;
behave in an incorrect manner towards the officials of OKEO (e.g. in a frightening, threatening
or aggressive manner);
while the competency or authorisation of the Representative raises doubts;
Account, are subject to an international payments sanction regime;
using the Account illicitly or fraudulently;
stated in these Terms and Conditions, when it is required by OKEO or in a form which is
acceptable by OKEO;
authority requires suspending or restricting the operations on the Account or the provision of
any other Services;
the Payment Instruments.
and about the possibility to return the money which belongs to the Client within 3 (three) Business Days
since provision of the instructions by the Client regarding the money redemption (see clause 5.5 for
redemption options), except for the cases when provision of such information would weaken safety
measures or is forbidden by the legal acts.
Account, OKEO has a right to suspend the provision of some or all Services to the Client.
the Payment Instruments, or about facts or suspicions that personalized safety features of the Payment
Instrument have become known or may be used by third persons, or OKEO has reasonable suspicions
that funds on the Account or Payment Instrument may be illegally used by third persons, OKEO can
suspend all Payment Transactions associated with that Payment Instrument.
responsibilities to OKEO which have arisen till the suspension or termination.
instruction for redemption of the Electronic Money from the Client’s Accounts. The Client shall be obliged
to perform all necessary actions to redeem Electronic Money. In case the Client does not choose a
method to redeem the Electronic Money or does not perform necessary actions to redeem the Electronic
Money, OKEO can redeem Electronic Money of the Client by the method of redemption of Electronic
Money which is available at the moment of the redemption.
the authorisation of the Representative has expired or the Representative authorisation has been
cancelled or when OKEO was not informed about the renewal of such authorisation.
Liability of the Parties
violation of the Terms and Conditions and other internal rules or agreements concluded by the Parties.
The breaching Party undertakes to reimburse direct damage incurred due to such liability to the affected
Party. In all cases, liability of OKEO is limited by the following provisions:
the Terms and Conditions made by OKEO, and only for damages which could have been
foreseen by OKEO at the time of breaching of the Terms and Conditions, other internal rules
or agreements concluded;
internal rules or concluded agreements shall not exceed the monthly average of the Fees for
the last 3 months, paid to OKEO by the Client for the Services, or over the shorter period if the
Services has been provided over the shorter period. This restriction is applied for the total
amount of all violations during the month. In case the aforementioned average cannot be
calculated due to objective reasons, the compensation cannot exceed 500 EUR;
reputation of the Client, loss or failure of Client’s business, and indirect damages;
the applicable law.
harmless and free from any claim, expenses or costs (including legal expenses and fines) that OKEO
incurs or suffers due to the breach of the Terms and Conditions or breach of any applicable law or
influenced and disordered by many factors beyond control of OKEO. OKEO shall undertake all reasonable
efforts to ensure uninterrupted System’s operations and availability, however, OKEO shall not be liable
for consequences resulting from the System operation disorders if such disorders occur not due to the
fault of OKEO.
System repair or maintenance works and other similar cases, and when OKEO informs the Client about
such cases at least 3 (three) Business Days in advance, shall not be considered System operation
OKEO is not liable for:
not protect the Password or the User Credentials, and as a result they have become known
to the other persons,
documents or illegally received data;
third party which is beyond control of OKEO;
if these actions were performed by OKEO in line with these Terms and Conditions,
date, as required by these Terms and Conditions;
other party, which receives payments from the Account;
it was caused due to OKEO fulfilling duties determined by the law;
are beyond the control of OKEO;
dishonest actions or gross negligence or by not adhering to these Terms and Conditions;
or illegally acquired Payment Instruments.
or illegally acquired Payment Instruments.
Instruments, as stated in these Terms and Conditions and in the terms and conditions of using
Payments Instruments which were provided while ordering the Payment Instrument.
Payment Instrument, about facts and suspicions that personalized security features of his/her
Payment Instrument(s) have become known to or can be used by third persons, the Client
shall notify OKEO or the party indicated by OKEO immediately, in accordance with the rules
regulating issuance and usage of the Payment Instrument provided in these Terms and
Conditions and in the terms and conditions of using Payments Instruments which were
provided while ordering the Payment Instrument;
features of the Payment Instrument after the Payment Instrument has been issued.
right to debit the respective amounts from the Client’s Account(s). If these funds are not sufficient to
cover the losses, fines and legal costs, OKEO can apply to the court.
OKEO about unauthorized or improperly executed Payment Transactions, and about any other errors,
inconsistencies or inaccuracies noticed. The notification shall be submitted not later than 60 (sixty)
calendar days after the day when OKEO, according to the Client, has performed the unauthorized
Payment Transaction or has performed the Payment Transaction improperly. If the Client does not
submit specified notifications within the time period indicated, it is considered that the Client has
unconditionally agreed to the Payment Operations, that had been executed on the Account.
unsuccessful) to the Account or other illegal actions related to the Account, and undertake all reasonable
measures indicated by OKEO in order to help in investigating the illegal actions.
internal rules or agreements concluded in case the Party proves that obligations have not been executed
due to circumstances of force majeure which are proven in accordance with the procedure established
by the law. The Client shall notify OKEO about the force majeure in writing (e.g. via e-mail) within 10
calendar days after the day of occurrence of such circumstances.
the Client’s tax residency. The Client is solely liable for the registration and declaration of the Client’s
accounts according to the legislative acts of the country of the Client’s residency.
Republic of Lithuania.
conditions shall continue to be valid and binding for the Parties.
becomes insolvent, you may lose the money held in the accounts opened within OKEO. However, OKEO
ensures that Clients’ funds are kept on a separate account opened at the Bank of Lithuania or other
eligible financial institution, for the benefit of Clients of OKEO, and this account will not be used to
funds of OKEO or other parties which are not considered to be Clients of the Services offered by OKEO.
through negotiations or other means according to the rules stated in the
Complaints Policy and
that they have familiarised themselves with its content.