Common use of LIABILITY AND REFUNDS Clause in Contracts

LIABILITY AND REFUNDS. Collecting fees and our right of Set-Off We do not provide credit services and you cannot borrow money on your Account. If your balance becomes negative (for example, because you do not have enough e- money to cover fees you owe us), you must add money to your Account immediately. If you owe us fees or any other amount, we'll take the amount you owe us from your Account, in the currency of the country you live in (your “Base Currency”). If you don’t have enough money in your Account in your Base Currency, we'll take the equivalent value from money you hold in another currency or from any other connected account you hold with us (such as your Merchant account). There are other ways for us to recover any amounts we’re owed such as by taking the amount you owe us from any amount we are due to pay to you (our "Right of Set- Off”) or taking other legal steps such as instructing lawyers or debt collectors. You do not have any Right of Set-Off under this Agreement. If we take any (or all) of these steps, we might charge you our reasonable costs. Our right to refuse or delay payments We must refuse or delay payments coming into or out of your Account if you owe us money or we intend to exercise our Right of Set-Off (as described above). We may also refuse payments for the following reasons: if even after doing everything reasonably possible, we won't be able to make the payment on time; if a third party prevents us from making the payment (for example, if a card scheme does not allow a payment or cash withdrawal using your Revolut card); if we need to carry out further checks or if we have asked you for important information we reasonably need and you have not given us that information; or if we have suspended your Account. When we refuse to make a payment, we'll always try to let you know. We won't be responsible for any losses you suffer as a result of us refusing or delaying a payment. When a payment does not go as planned We'll always try to process your payments correctly and on time, but sometimes things go wrong and a payment might be delayed or not received by the person you wanted to pay. Please see below for what action you must take and what action we will take in relation to different payments where something has not gone as planned. If you are not a Large Corporation: What's gone wrong What you must do What we will do If money is not received into the account you sent If a payment was sent to it to, we will refund the the wrong account, not payment back into your sent at all, or delayed, Let us know without Account. and the bank account delay through the We will also refund any you wanted to make a Revolut Business app potential charges or payment into and the and no later than 13 interest you had to pay person you wanted to months. as a result of our pay is in the EEA/UK. mistake. This does not apply to currency exchanges. If we received a payment on your behalf but the money was not paid into your Account on time. You don’t need to do anything. We will immediately credit your Account with the amount of the payment. If someone steals from your Business Account. Let us know through the Revolut Business app without delay and no later than 13 months from the date the money was stolen. We will pay the money back into your Account if all of the following apply: you couldn't have known that your security details or Revolut card were at risk of being misused; What's gone wrong What you must do What we will do the payment happened because someone we're responsible for made a mistake; the payment was taken after you told us that someone knew your security details or your Revolut card was lost or stolen, or we didn't give you a way to notify us us about this; and the law required us to make you follow certain prompts when you instructed us to make the payment and we didn't do this. We'll also pay back any charges you had to pay as a result of the payment being taken from your Account. We won't refund any money if you've acted fraudulently, or you intentionally or carelessly failed to keep your Revolut Account (such as your security details or Revolut card) safe (unless you told us about this before the payment was taken from your Account). If you are a Large Corporation: Payment type What you must do What we will do If money is not received into the account you If a payment was sent to sent it to, we will refund the wrong account, not the payment back into sent at all, or delayed, and the bank account you wanted to make a payment into and the person you wanted to Let us know without delay through the Revolut Business app within three months. your Account. We will also refund any potential charges or interest you had to pay as a result of our pay is in the EEA/UK. mistake. This does not apply to currency exchanges. If we received a payment We will credit your on your behalf but the You don’t need to do Account with the money was not paid into anything. amount of the payment your Account on time. within ten business days. If someone steals from Let us know without We may pay the money your Business Account. delay through the back and restore your Revolut Business app Account to the state it within three months of would have been in if the the date the money was amount had not been stolen. stolen. We won't provide a refund if the theft happened because you didn't keep your security details safe or evidence suggests that you acted fraudulently. We'll treat any payment instruction given using the Revolut card or the Open API as evidence that you authorised the payment or didn't keep Payment type What you must do What we will do your security details safe. Your refund rights for all other payments Type of payment Conditions/what you must do What we will do We will refund the amount of the payment if all of the following apply: you agreed that a payment could be taken, but didn't agree the actual amount of the payment; A Revolut card payment where you did not authorise the amount. You can ask us to refund an amount taken from your Account if you ask us for the refund within eight weeks of the payment being taken from your Account. the amount taken is more than you reasonably expected in all the circumstances (including your spending pattern); the person you paid is in the EEA; you didn't authorise the payment directly with us; and we and the person you paid did not give you any information about the payment during the four weeks before it was taken. Type of payment Conditions/what you must do What we will do You can cancel a Direct If your Direct Debit Indemnity Claim is successful, we will refund you under the rules of the UK Direct Debit Guarantee. Debit payment to a UK business by contacting our customer support team on the Revolut Business app before 4pm on the day that Direct Debit would be paid. If you let us know UK Direct Debits after 4pm, we will need to process your request as a ‘Direct Debit Indemnity Claim’, and the outcome of that claim would depend on the rules of the Bacs system (a UK payment system which all Direct Debits go through). For SEPA Core Direct For SEPA Core Direct Debits: You will be entitled to an unconditional refund. For SEPA Direct Debit B2B: Not applicable. Debits: Contact us within eight weeks of the date the payment was taken out of your account. SEPA Direct Debits For SEPA Direct Debit B2B (if available to you): You agree that you do not have a right to a refund for this type of payment If we have reason to believe that a payment was mistakenly paid into your Revolut account, including but not limited to where we have reason to believe that the funds were received into your Revolut account as a result of fraud, we can reverse the payment or put a hold on it. We can do this even if you have spent part of the payment. If the person who mistakenly made the payment makes a legal claim to get it back themselves, we may also need to share your information with them. For these reasons, you should always check your account regularly to make sure everything is correct.

LIABILITY AND REFUNDS. Collecting fees and our right of Set-Off We do not provide credit services and you cannot borrow money on your Account. If your balance becomes negative (for example, because you do not have enough e- e-money to cover fees you owe us), you must add money to your Account immediately. If you owe us fees or any other amount, we'll take the amount you owe us from your Account, in the currency of the country you live in (your “Base Currency”). If you don’t have enough money in your Account in your Base Currency, we'll take the equivalent value from money you hold in another currency or from any other connected account you hold with us (such as your Merchant account). There are other ways for us to recover any amounts we’re owed such as by taking the amount you owe us from any amount we are due to pay to you (our "Right of Set- Set-Off”) or taking other legal steps such as instructing lawyers or debt collectors. You do not have any Right of Set-Off under this Agreement. If we take any (or all) of these steps, we might charge you our reasonable costs. Our right to refuse or delay payments We must refuse or delay payments coming into or out of your Account if you owe us money or we intend to exercise our Right of Set-Off (as described above). We may also refuse payments for the following reasons: if even after doing everything reasonably possible, we won't be able to make the payment on time; if a third party prevents us from making the payment (for example, if a card scheme does not allow a payment or cash withdrawal using your Revolut card); if we need to carry out further checks or if we have asked you for important information we reasonably need and you have not given us that information; or if we have suspended your Account. When we refuse to make a payment, we'll always try to let you know. We won't be responsible for any losses you suffer as a result of us refusing or delaying a payment. When a payment does not go as planned We'll always try to process your payments correctly and on time, but sometimes things go wrong and a payment might be delayed or not received by the person you wanted to pay. Please see below for what action you must take and what action we will take in relation to different payments where something has not gone as planned. If you are not a Large Corporation: What's gone wrong What you must do What we will do If a payment was sent to the wrong account, not sent at all, or delayed, and the bank account you wanted to make a payment into and the person you wanted to pay is in the EEA/UK. Let us know without delay through the Revolut Business app and no later than 13 months. If money is not received into the account you sent If a payment was sent to it to, we will refund the the wrong account, not payment back into your sent at all, or delayed, Let us know without Account. and the bank account delay through the We will also refund any you wanted to make a Revolut Business app potential charges or payment into and the and no later than 13 interest you had to pay person you wanted to months. as a result of our pay is in the EEA/UK. mistake. This does not apply to currency exchanges. If we received a payment on your behalf but the money was not paid into your Account on time. You don’t need to do anything. We will immediately credit your Account with the amount of the payment. If someone steals from your Business Account. Let us know through the Revolut Business app without delay and no later than 13 months from the date the money was stolen. We will pay the money back into your Account if all of the following apply: you couldn't have known that your security details or Revolut card were at risk of being misused; What's gone wrong What you must do What we will do the payment happened because someone we're responsible for made a mistake; What's gone wrong What you must do What we will do the payment was taken after you told us that someone knew your security details or your Revolut card was lost or stolen, or we didn't give you a way to notify us us about this; and the law required us to make you follow certain prompts when you instructed us to make the payment and we didn't do this. We'll also pay back any charges you had to pay as a result of the payment being taken from your Account. We won't refund any money if you've acted fraudulently, or you intentionally or carelessly failed to keep your Revolut Account (such as your security details or Revolut card) safe (unless you told us about this before the payment was taken from your Account). If you are a Large Corporation: Payment type What you must do What we will do If money is not received into the account you If a payment was sent to sent it to, we will refund the wrong account, not the payment back into sent at all, or delayed, and the bank account you wanted to make a payment into and the person you wanted to pay is in the EEA/UK. Let us know without delay through the Revolut Business app within three months. If money is not received into the account you sent it to, we will refund the payment back into your Account. We will also refund any potential charges or interest you had to pay as a result of our pay is in the EEA/UK. mistake. This does not apply to currency exchanges. If we received a payment We will credit your on your behalf but the money was not paid into your Account on time. You don’t need to do anything. We will credit your Account with the money was not paid into anything. amount of the payment your Account on time. within ten business days. If someone steals from your Business Account. Let us know without delay through the Revolut Business app within three months of the date the money was stolen. We may pay the money your Business Account. delay through the back and restore your Revolut Business app Account to the state it within three months of would have been in if the the date the money was amount had not been stolen. stolen. We won't provide a refund if the theft happened because you didn't keep your security details safe or evidence suggests that you acted fraudulently. We'll treat any payment instruction given using the Revolut card or the Open API as evidence that you authorised the payment or didn't keep Payment type What you must do What we will do your security details safe. Your refund rights for all other payments Type of payment Conditions/what you must do What we will do We will refund the amount of the payment if all of the following apply: you agreed that a payment could be taken, but didn't agree the actual amount of the payment; A Revolut card payment where you did not authorise the amount. You can ask us to refund an amount taken from your Account if you ask us for the refund within eight weeks of the payment being taken from your Account. We will refund the amount of the payment if all of the following apply: you agreed that a payment could be taken, but didn't agree the actual amount of the payment; the amount taken is more than you reasonably expected in all the circumstances (including your spending pattern); Type of payment Conditions/what you must do What we will do the person you paid is in the EEA; you didn't authorise the payment directly with us; and we and the person you paid did not give you any information about the payment during the four weeks before it was taken. Type of payment Conditions/what you must do What we will do UK Direct Debits You can cancel a Direct If your Direct Debit Indemnity Claim is successful, we will refund you under the rules of the UK Direct Debit Guarantee. Debit payment to a UK business by contacting our customer support team on the Revolut Business app before 4pm on the day that Direct Debit would be paid. If you let us know UK Direct Debits after 4pm, we will need to process your request as a ‘Direct Debit Indemnity Claim’, and the outcome of that claim would depend on the rules of the Bacs system (a UK payment system which all Direct Debits go through). For SEPA Core If your Direct For SEPA Core Debit Indemnity Claim is successful, we will refund you under the rules of the UK Direct Debits: You will be entitled to an unconditional refundDebit Guarantee. For SEPA Direct Debit B2B: Not applicable. Debits: Debits Contact us within eight weeks of the date the payment was taken out of your account. SEPA Direct Debits For SEPA Direct Debit B2B (if available You will be entitled to you): You agree that you do not have a right to a refund for this type of payment If we have reason to believe that a payment was mistakenly paid into your Revolut account, including but not limited to where we have reason to believe that the funds were received into your Revolut account as a result of fraud, we can reverse the payment or put a hold on it. We can do this even if you have spent part of the payment. If the person who mistakenly made the payment makes a legal claim to get it back themselves, we may also need to share your information with them. For these reasons, you should always check your account regularly to make sure everything is correctan unconditional refund.