Version 1.0 - Effective from 20th October 2020
These terms apply to payment accounts created for the purpose of executing payment transactions.
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.
The Danish Act on Payments 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 Danish) is available on www.retsinformation.dk.
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.
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withdrawals, you must provide the registration number and account number of the account from which the amount is to be withdrawn.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.
You can, for example, submit payment orders in the following ways:
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.
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.
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 Sweden and to and from EEA countries in EEA currencies is usually one banking day. However, this is also dependent on the type of transfer and currency.
For payment orders received on paper, including payment slips, forms or electronic notification, the execution time may be up to two banking days.
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.
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.
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.
Lunar enters into agreements and communicates in English unless otherwise specified in the individual agreement.
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.
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.
Lunar is authorised to immediately block the use of a payment service or refrain from executing a payment transaction where:
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.
Liability and responsibility are distributed in accordance with Sections 97 to 100 of the Danish Payments Act, which are enclosed.
Lunar is liable for your direct losses for failure or inadequate execution of payments in accordance with these terms. However, this does not apply if the financial institution can prove that the payee's financial institution has received the amount.
Liability and responsibility are distributed in accordance with Sections 101 and Section 102 of the Danish Payments Act, which are enclosed.
These terms apply from the specified date until they are amended or terminated by Lunar.
Both you and Lunar may terminate your payment account agreements without notice. A termination on our part must be objectively justified and will be notified in writing.
If you wish to complain about Lunar, please contact us first.
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 Danish Financial Complaint Board, Store Kongensgade 62, 2. sal, 1264 København K, www.fanke.dk, telephone: +45 35 43 63 33.
Complaints concerning the financial institution's compliance with financial legislation may be lodged with the Danish FSA, www.finanstilsynet.dk.
Complaints about the processing of personal data by the financial institution may be lodged with the Danish Data Protection Agency, www.datatilsynet.dk.
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, www.finanstilsynet.dk.
The financial institution can be contacted at Hack Kampmanns Plads 10, 8000 Aarhus and via email at firstname.lastname@example.org.
Legal disputes with you are settled under Swedish law and in a Swedish court.
You can obtain a copy of these terms at any time via the Lunar app or find them on our website.
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.
These terms are subject to change with three 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.