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Terms for Private Payment Accounts

Version 1.0 - Effective from 8th February 2021

1. Introduction

These terms apply to payment accounts created for the purpose of executing payment transactions.

Apart from cash deposits and withdrawals in the bank and transfers to your accounts, the use of payment services requires a separate agreement on the use of payment instruments, e.g., Visa debit terms of use.

2. Consent to the processing of personal data

At the time of entering into an agreement for establishing a payment account, you consent to the processing of your personal data in connection with the provision of this service. This includes using your personal data for the purposes of and in connection with the execution or correction of payment transactions. The personal data that can be processed may be civil registration number, address, and account number.

The data are stored for the current year, plus five years.

You can revoke your consent at any time, but please be aware that, if you do, you may not be able to use your account.

3. Norwegian Financial Contracts Act

The Norwegian Financial Contracts Act applies to deposits into and withdrawals from payment accounts. Extracts from the act relating to liability and responsibility are attached.

The entire text of the act (in Norwegian) is available on

4. Main characteristics of the payment service

Payment services are services that enable deposits into and withdrawals from a payment account, such as mobile banking and Visa debit cards.

Deposits into a payment account can be made in cash by you or others, by transfer from a Lunar account, or transfer from another financial institution.

Withdrawals from a payment account can be made in cash by you, by transfer to Lunar accounts, to accounts of other financial institutions, by means of payment instruments, and by payment of bills.

5. Information for executing a payment service

For withdrawals, you must provide the registration number and account number of the account from which the amount is to be withdrawn.

Also, for domestic transfers, you must provide the registration number and account number of the account to which the amount is to be transferred.

In the case of cross-border payment transactions, you must also provide the IBAN No. and SWIFT code of the recipient.

SWIFT is required to disclose information about the transfer to the US authorities in case of suspicion of money laundering or financing of terrorism.

We consider a payment order executed in accordance with the unique identification code specified in the payment order to be successfully executed.

6. Form and procedure for consent to execute a payment transaction and withdrawal of consent

You can, for example, submit payment orders in the following ways:

  • By personal request
  • Via the app
  • By sending a letter to us.

A withdrawal must be confirmed using BankID in the app.

A prerequisite for us to complete a payment order is that the amount is available in the account.

Once we have received a payment order, it cannot be revoked.

However, a payment order to be executed at a later date may be revoked at the latest at the end of the banking day before the agreed date.

If you wish to revoke a payment order, this can be achieved via your access to the app or by contacting us. We reserve the right to charge a fee for the revocation.

If a payment order is rejected due to factual errors, we will notify you of this, the reasons for the rejection, and the procedure to correct the error that has led to the rejection.

7. Description of the time a payment order has been received

A payment order is considered received on the banking day on which we receive the payment order.

Saturdays, Sundays and public holidays, Christmas Eve, New Year's Day, Constitution Day, and Friday after Ascension Day are not considered banking days.

Payment orders received near the end of a banking day or between two banking days are deemed to have been received on the following banking day and will not be processed until the next banking day. For more information on the deadline for receiving payment orders to be processed on the same banking day, please contact our support.

8. Maximum execution time

The execution time is the time it takes for the payment transaction to be credited to the recipient's account.

The maximum execution time for deposits and withdrawals in Norway and to and from EEA countries in EEA currencies is usually one banking day from receipt of the payment order. However, this is also dependent on the type of transfer and currency.

Lunar is deemed to have received a payment order at the point of time when it has received all the information necessary to execute the payment.

If a payment order is involving a currency conversion, the payment order is deemed to have been received by Lunar after the necessary conversion was made, unless otherwise stipulated by mandatory law.

For payment orders received on paper, including payment slips, forms or electronic notification, the execution time may be up to two banking days.

9. Information on payments

You can view in-app transaction information at any time. These are also sent to you via e-Boks or other digital channels once annually.

10. Prices

Our prices are specified in our separate price list. Also, we provide information about specific payments associated with a payment account to you through the app at any time.

If an amount is transferred to your account, we will be entitled to withdraw any payment associated with the transfer of the transferred amount before the amount is deposited into your account.

We reserve the right to charge a fee when notifying you of the reasons for a declined payment order.

We reserve the right to charge a fee for attempting to return funds where you have provided an incorrect account or identification code.

When we receive a transfer from abroad, any potential fee payment will be deducted from the transferred amount.

11. Exchange rates

Any currency conversion shall be made at the exchange rates set by Lunar for purchases and sales on the working day on which the deposit or withdrawal is made.

We may make changes to the set exchange rate without notice.

12. Languages and communication

Lunar enters into agreements and communicates in English unless otherwise specified in the individual agreement.

13. Checking transactions

You are obliged to check the transactions in your account on an ongoing basis. If, on checking, you discover transactions that do not match your receipts or you do not believe you have conducted, please contact Lunar as soon as possible.

Be aware that, in any event, your ability to object to unauthorised or faulty payment transactions will lapse 13 months after the amount has been withdrawn from your account.

14. Notification

In the event of suspected or actual misuse or security threats, Lunar may notify you by telephone, in-app notification, or other similarly secure procedure.

15. Blocking

Lunar is authorised to immediately block the use of a payment service or refrain from executing a payment transaction where:

  1. there is knowledge or suspicion of the unauthorised use of third parties;
  2. there is knowledge or suspicion of data on payment services or payment instruments having been compromised;
  3. a payment service, within a short period of time, is used in a manner that deviates from the normal;
  4. you or a person acting on your behalf must be presumed to lack the ability to act reasonably;
  5. the customer relationship or account to which the payment service is linked is terminated by you or us, or where circumstances allow the account to be terminated without notice;
  6. these terms are breached, including if the payment account to which the payment service is linked is overdrawn;
  7. there is a substantially increased risk that you will not be able to meet your payment obligation, regardless of whether a credit facility has been provided for the payment service;
  8. a payment instrument has been renewed, and the previous one must be blocked for security reasons;
  9. agreed amount thresholds are exceeded; or
  10. it is otherwise necessary for the security of the payment service or for any suspicion of unjustified use.

In case of an overdraft, if possible, you will receive a reminder before the payment service is blocked.

If we have to block the payment account immediately, you will be notified immediately after the blocking, stating the reason and time.

16. Unauthorised payment transactions

Liability and responsibility are distributed in accordance with sections 34 to 37 in the Norwegian Financial Contracts Act.

Lunar is liable for unauthorised withdrawals from or other charges to the account unless otherwise stated below. The payment transaction is deemed unauthorised if you have not authorised (approved) the transaction, either before or after its execution.

If your payment instrument or personal security devise (such as BankID) was used to execute the unauthorised payment transaction, you are liable for losses up to a maximum amount of NOK 1 200.

You are liable for the entire loss relating to any authorised payment transactions if the loss is due to your gross negligence pertaining to your obligations to protect your personal security devise. Nevertheless, if an electronic payment instrument was used for the payment transaction, you are only liable for a maximum amount of NOK 12 000 unless your failure to protect your personal security devise was intended.

Your liability according to this clause may be reduced pursuant to section 36 of the Norwegian Financial Contracts Act.

17. Lunar responsibility for the execution of payment transactions

Lunar is liable for your direct losses for failure or inadequate execution of payments provided that you have not provided us with incorrect information pertaining to the payee’s account information. However, Lunar’s liability does not apply if the financial institution can prove that the payee's financial institution has received the amount. Lunar is also liable for indirect losses related to failure or inadequate execution of a payment transaction if such failure has been caused by Lunar’s gross negligence.

18. Repayment of payment transactions initiated by or through a payee

Liability and responsibility are distributed in accordance with section 33a and section 40 in the Norwegian Financial Contracts Act, which are enclosed.

You can claim repayment of the total amount of a payment transaction initiated by or via the payee, if you can prove that;

  • You have not authorised the exact amount of the payment transaction; and
  • The amount exceeds the limit which you could reasonably have expected based on your previous utilisation pattern, the terms of this agreement and other circumstances.

The right to repayment does not apply, if you give your consent to the payment transaction directly to Lunar and (if relevant) you were notified of the future payment transaction at least four weeks before the due date.

You must forward a claim of repayment at least eight weeks after the payment date in order to be entitled to repayment.

19. Entry into force and duration

These terms apply from the specified date until they are amended or terminated by Lunar.

20. Termination and cancellation

You may terminate your payment account agreements without notice.

Lunar may terminate our customer relationship in writing without a prior written notice, provided that you are in material breach of these terms and conditions.

The following factors will be considered a material breach (non-exhaustive list):

  • if you, your agents or others who are entitled to interact with Lunar on your behalf are subject to sanctions decided by the EU, or the UN, cf. the Danish Ministry of Foreign Affairs’ overview of sanctions, or similar, for example, U.S. authorities such as OFAC.
  • if you refrain from providing us with the information that we are obligated to obtain from you under legislation such as tax law anti-money laundering laws (including the Danish Anti-Money Laundering Act).

Lunar may also cancel our customer relationship upon a two month’ prior written notice, provided that our cancelation is objectively justified.

21. Complaints and reversal of payments

If, in your opinion, Lunar has carried out a transaction you have not approved or Lunar has carried out a transaction incorrectly, you must issue a complaint to Lunar. We will then document that the transaction has been authenticated (approved), correctly registered and recorded, and has not been affected by technical failure or other errors. The fact that your Lunar app has been used to execute the payment does not in itself represent adequate evidence that you have made the payment of acted dishonestly vis-à-vis the bank.

If you, despite our documentation, opine that Lunar is responsible, Lunar shall reverse the amount and compensate for loss of interest from the debit date, provided that you submit a claim for reversal of the payment without undue delay after you were or ought to have been aware of the error, and not later than 13 months after the debit date. Lunar’s obligation to reverse the payment does not apply if you have acknowledged liability for the debit, or if Lunar within four weeks from receipt of the written objection from you, has filed a civil suit of submitted the matter to the Norwegian Banking Complaints Board (Nw. Finansklagenemda). If the matter is dismissed by the Board or a court of law, a new time limit of four weeks applies from the date Lunar was informed of the dismissal.

If you suspect that you have been exposed to a criminal act in connection with a transaction, Lunar can require that you report the matter to the police. If a payment is reversed in accordance with this provision, Lunar may nevertheless require that the money be repaid on a later date, if Lunar render probable that the payment was approved by you and consequently that Lunar cannot be held liable.

Complaints about Lunar should be directed to

If you still disagree with our handling of your inquiry or the result thereof, you can contact the complainant responsible at Lunar. Information about the complainant responsible is available on our website.

If the request does not lead to a satisfactory solution, you may choose to lodge your complaint with the Norwegian Banking Complaints Board (Nw. Finansklagenemda), Askekroen 11, 0277 Oslo, telephone: +47 23 13 19 60, email:

Complaints concerning the financial institution's compliance with financial legislation may be lodged with the Danish FSA,

Complaints about the processing of personal data by the financial institution may be lodged with the Danish Data Protection Agency,

22. Provider of payment service

Lunar Bank A/S, Hack Kampmanns Plads 10, 8000 Aarhus, has a license as a financial institution and is subject to supervision by the Danish Financial Supervisory Authority,

The financial institution can be contacted at Hack Kampmanns Plads 10, 8000 Aarhus and via email at

23. Choice of law and jurisdiction

Legal disputes with you are settled under Norwegian law and in a Norwegian court.

24. Copy of these terms

You can obtain a copy of these terms at any time via the Lunar app or find them on our website.

25. General terms and conditions of business etc.

Otherwise, Lunar’s general terms and conditions of business apply to payment accounts and payment services. For payments to and from abroad, the terms of transfers to and from abroad apply.

26. Changes to terms of payment accounts

These terms are subject to change with two months' notice if the change is to your detriment. You will receive a notification of changes either via the app, your specified email, or other digital channels. Other changes may occur without notice, and we will notify you accordingly.

An announced change to these terms is deemed to be approved unless you have notified Lunar before the date of entry into force that you do not wish to be bound by the new terms. In such case, payment service agreements shall end at the time of commencement of the amended terms.

Lunar Bank A/S, Hack Kampmanns Plads 10 DK-8000 Aarhus C, CVR nr. 39697696