These General Service Terms for payers govern the provision of the Transferencia Online payment service by Inespay (hereinafter, the “Service”) to payers or users of the payment service (hereinafter, “Payer”).
The Service is provided by INESPAY Financial Technologies S.L.U., a Payment Institution supervised and authorized by the Bank of Spain and registered in the Special Register of Payment Institutions of the Bank of Spain under registration number 6902 (hereinafter referred to as “INESPAY”), located at Pza. Alfonso el Magnánimo, 13-1B 46003 Valencia; website: www.inespay.com, and Customer Service email: sac@inespay.com.
The use of the Service implies the prior acceptance of these General Service Terms by the Payer.
1. WHAT IS TRANSFERENCIA ONLINE
Transferencia Online is a payment initiation service, regulated under Royal Decree-Law 19/2018, of November 23, 2018, which transposes into Spain the Directive (EU) 2015/2366 of the European Parliament and the Council of November 25, 2015, on payment services (PSD2 Directive).
The Service allows the Payer to make online payments via bank transfer from their bank in a simple, secure, and real-time manner.
To complete a payment, the Service redirects the Payer to their bank’s portal, providing payment details so that they can authorize the transfer using their usual Online Banking credentials. Once the transfer is authorized by the Payer, the Service confirms its successful completion to the merchant or beneficiary in real time.
2. HOW IT WORKS
When the Payer selects the payment option Transferencia Online:
- The Payer will choose the bank they wish to pay from, and the Service will redirect them to their bank’s portal.
- The bank will request the Payer to login using their usual Online Banking credentials (Username and Password, or any other authentication methods their bank may require at any time).
- The bank will guide the Payer through the process of authorizing the bank transfer, asking them to:
- Confirm the account from which they wish to pay.
- Check the payment details and authorize the payment through the usual procedure established with their bank.
- The Payer’s bank will inform INESPAY in real-time that the Payer has authorized the bank transfer, allowing INESPAY to confirm the payment to the merchants or beneficiary immediately.
- Payments made through Transferencia Online are non-reversible. Therefore, the beneficiary may, at their discretion, deliver the goods or provide the service to the Payer without undue delay.
Payments made through Transferencia Online are bank transfers initiated and executed by the Payer’s bank directly to the beneficiary’s bank account. INESPAY’s role is limited to facilitating the connection between the Payer, their bank, and the beneficiary or payee, as well as confirming the successful authorization of the bank transfer. The exact moment of the actual execution of the payment by the Payer’s bank depends on each bank’s internal procedures.
INESPAY does not have access to the Payer’s personal banking credentials, account balances, or funds at any stage of the payment process.
3. ECONOMIC CONDITIONS
Transferencia Online is free of charge and does not incur any costs or fees for the Payer.
However, the Payer’s bank will apply the fees established in the agreements with the Payer for carrying out bank transfers. In other words, the Payer’s bank will charge the Payer’s bank account the same fees that are applied when the Payer makes an ordinary bank transfer directly from their bank.
4. PERSONAL DATA
To use the Service, registration is not required, and therefore the Payer does not need to identify themselves or provide personal data to INESPAY.
INESPAY does not have access at any time, under any circumstances, to the personal or security credentials for Online Banking, nor to bank balances or transactions. The Payer is the one who directly provides their personal or security credentials to their bank. INESPAY merely connects the Payer to their bank’s portal, allowing them to identify themselves and authorize a payment via bank transfer with full privacy.
While providing the Service, INESPAY only knows:
- The bank selected by the Payer.
- The bank account number (IBAN) and the name of its holder, provided to INESPAY by the Payer’s bank with each successfully processed payment.
- The amount and payment reason pre-set by the merchant or payee, along with the date and time of the payment.
- The confirmation from the Payer’s bank of the successful completion of the payment.
- Connection-related information: IP address, device used, and geolocation.
This information is protected by the General Data Protection Regulation (GDPR).
The mentioned personal data is stored by INESPAY in an encrypted and secure manner for the strictly necessary period to provide the Service. In addition, tax laws related to anti-money laundering and fraud prevention require INESPAY to retain, at the disposal of the competent authorities, information related to each processed payment.
During its retention, INESPAY maintains security measures that ensure the confidentiality, integrity, availability, and permanent resilience of the data, systems, and processing services, pseudonymizing and encrypting personal data. These measures are regularly verified and evaluated to ensure security.
4.1 WHEN AND TO WHOM WE COMMUNICATE PERSONAL DATA
INESPAY confirms to the merchant or payee the successful completion of the payment and the payment reason to reconcile the received payments and, if necessary, manage refunds or issues.
INESPAY does not make any other communication, except to the competent authorities, such as the Bank of Spain in its supervision of the Service, the Spanish Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses (SEPBLAC), or the Courts upon their request.
5. AVAILABILITY OF THE SERVICE
INESPAY provides the Service without interruption. However, since the Service redirects the Payers to their bank’s interfaces or portals, and INESPAY has no control over them, it is possible that the Service may occasionally be unavailable. Despite INESPAY taking the necessary measures to prevent such disruptions, INESPAY is not liable for any damages or losses that may arise from such circumstances.
If the Service cannot be provided, INESPAY will notify the Payer as soon as possible and will take the necessary steps to restore its normal operation as quickly as possible.
6. RESPONSIBILITY
INESPAY is only liable for damages of any kind that the Payer may suffer, provided they are a direct result of INESPAY’s actions, will, or responsibility.
Specifically, INESPAY is not responsible for periodic suspensions in access to the Service due to maintenance of the banking interfaces. INESPAY will notify the Payer as soon as possible, if feasible.
7. USE OF THE SERVICE
To use the Service, the Payer must fully accept these General Service Terms without reservation.
The Payer must meet the legal minimum age to initiate payment orders, must not be legally incapacitated, and must have access to Online Banking services with their bank.
The Payer agrees not to use the Service for any purpose that violates their agreements with third parties or any applicable laws. The Payer will be solely responsible for such violations.
8. WHO CAN I CONTACT TO EXERCISE MY RIGHTS?
You can exercise your rights of access, rectification, deletion, objection, restriction, and data portability by sending a written request to INESPAY at the following email address: gdpr@inespay.com.
If you believe that INESPAY has violated your rights, you may file a complaint with the Spanish Data Protection Agency.
9. CUSTOMER SERVICE. CLAIMS AND DISPUTE RESOLUTION
For any questions, incidents, complaints, or claims, INESPAY provides a Customer Service with the following contact channels:
Customer Service:
- Phone: (+34) 960 666 665
- Email: sac@inespay.com
INESPAY will respond through Customer Service within a reasonable period, and no later than fifteen (15) business days from the receipt of the communication.
In exceptional situations, if a response cannot be provided within fifteen (15) business days due to circumstances beyond INESPAY’s control, a provisional response will be sent to the Payer. This response will clearly indicate the reasons for the delay and specify the timeframe in which the final response will be provided, which will not exceed thirty-five (35) business days.
If the response received from INESPAY is unsatisfactory, the Payer may file a complaint with the competent authority: Banco de España, located at Calle Alcalá 48, 28014 Madrid, public phone (+34) 900 545 454.
In such cases, the competent authority will inform the Payer about alternative dispute resolution procedures, without prejudice to the right to file a legal claim before a court of law in accordance with Spanish procedural law.
10. LEGISLATION AND JURISDICTION
These General Terms and Conditions shall be governed and interpreted in accordance with Spanish law.
For any disputes arising from the provision of the Service, the parties submit to the jurisdiction of the competent courts of the city of Valencia, Spain, expressly waiving any other jurisdiction that may correspond to them, unless otherwise determined by applicable consumer protection regulations.