Documentation Monext Online

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Giropay Specific terms

Payment Type

Real-time Bank Transfer

Chargeback Risk

No

Missing Funds Risk

No

Payment guarantee

Yes

Refund possibility

Yes

Transaction minimum

EUR 1.00 per Transaction

Transaction maximum

N/A

Specific Prohibited Goods and Services

In addition to any prohibited goods or services listed in Terms of use, section 11.k: Payment instruments (cash, savings or e-money, currencies including virtual currencies such as bitcoins, as well as checks) as far as the recipient of the payment instrument can’t be identified by the acquirer or Merchant, except vouchers or stored value products.

 

  1. Giropay is a bank transfer Payment Method where the Merchant receives a real time confirmation of the Transaction. Information on the beneficiary of a payment Transaction and the intended use of a Transaction is automatically entered into the online banking mask of the Customer.

  2. Giropay is restricted to Customers with access to an online banking compatible account held at an authorized credit institution based in Germany. MONEXT does not guarantee that all German bank accounts are giropay compatible.

  3. The Merchant must request from MONEXT a copy of the giropay Rules and Regulations and the Giropay Brand Book and must ensure that it adhere to the terms and conditions for Giropay contained therein, including the use of the giropay logo which is limited to the European region.

  4. Giropay offers a special guarantee in form of an abstract promissory note meaning that the Merchant is not only provided with a confirmation statement concerning the completion of the online transfer, but a positive confirmation statement is combined with a guarantee issued by the Giropay participating banks as an abstract promissory note. A guarantee event occurs if a positive bank transfer confirmation is received by the Merchant even if a Giropay bank transfer order is not carried out.

  5. The payment guarantees passed on by MONEXT in the scope of the Giropay Payment Method are in each case limited to an amount of EUR 10,000.00 per Transaction, even if the Transaction executed is for a higher amount.

  6. The Merchant shall report any events that require reliance on the giropay guarantee to Monext without delay.

  7. The Merchant’s claims resulting from the Giropay payment guarantee expire 6 weeks after receipt of a positive bank transfer confirmation unless the Merchant reported the claim from the payment guarantee to MONEXT in writing without delay before this date.

  8. After selecting Giropay as the payment method it is prohibited to request the Customer’s data, in particular personal data such as IBAN or names.