Mollie Business Account Terms

Mollie Business Account Terms

These general terms and conditions (“Business Account Terms”) apply between you, the "Organisation", (which in this document also includes "you" or "your"), whose details are recorded on the registration page of your Dashboard, and Mollie B.V. (which in this document also includes "Mollie", "we", "us" or "our") concerning the Business Account as further explained below. In these Business Account Terms, you and we are collectively referred to as "Parties" and individually as "Party".

These Business Account Terms complement the User Agreement. In the event of any conflict or inconsistency between the definitions and provisions of the User Agreement and these Business Account Terms, these Business Account Terms shall prevail, but only in relation to the Business Account services.

Mollie is a financial institution authorised by the Dutch Central Bank under relationship number F0038 and Chamber of Commerce number 30204462 that issues, among other things, payment accounts and electronic money, and offers payment services. If you have any questions or complaints regarding our services, you can contact us via info@mollie.com or through your customer portal (“Dashboard”).

These Business Account Terms are entered into under the suspensive condition that you timely and fully send us all relevant information and/or documents that we request from you and we have approved your application for opening a Business Account in writing or digitally.

If you are not satisfied with our services and wish to make a complaint, you can do so by sending us an email at complaints@mollie.com. Always include:

• Your name;

• The phone number and email address linked to your Business Account;

• What the problem is and when it occurred;

• How you want us to resolve the issue.

We will investigate your complaint and inform you about the further handling process in accordance with regulatory timelines. We will communicate with you in Dutch or English, or another language to the extent reasonably possible.

In case of an emergency, you can contact us during regular opening hours at +31 20 793 1118.

Definitions

We use the following terms in addition to those stipulated in the User Agreement:

1. About your Business Account

   1. The Mollie Business Account is a payment account with an IBAN. The balance on the Business Account is held in euros unless otherwise specified.

   2. The Business Account is an electronic money account. This means that the funds transferred by Mollie to your Business Account are converted into the equivalent value in electronic money. We are not entitled to pay interest on the balance held in the Business Account, and the balance is not guaranteed under the Dutch deposit guarantee scheme or any alternative guarantee scheme. The balance is safeguarded from our own assets in a client funds account at an authorised bank or payment service provider in accordance with applicable laws and regulations.

   3. The Business Account, Cards, and related services provided under this Agreement are intended  exclusively for business purposes. You are entering into this Agreement for purposes related to your trade, business, or profession and not as a consumer within the meaning of Directive (EU) 2015/2366 (PSD2) or equivalent directives, laws or regulations. 

   4. It is not possible to deposit cash into your Business Account.

   5. Funds you receive from us in the context of the payment services we provide to you under the User Agreement will be automatically deposited to your Business Account.

   6. If you request us to issue a Card to your Business Account, the relevant terms of use shall be provided to you separately.

   7. Payment Transactions can be made in a currency other than the euro. The Payment Transaction will then be made at the equivalent value of these amounts in euros. The equivalent value is determined by Mollie based on an exchange rate as listed on our website or as communicated to you. Changes in the exchange rate can be implemented immediately and without prior notice.

   8. By opening a Business Account, you consent to the processing of your personal data in accordance with section 7 of the User Agreement.

2. Limits, Shortfall, and Debit Interest

   1. There are limits for depositing, withdrawing, and/or transferring funds, and we have the right to change these limits without your prior consent if we think that is reasonable. For more information on current limits, please consult your Mollie App, your Dashboard, or our website. We will inform you if we change the limits. 

   2. Your Business Account is not a credit facility. If your balance becomes negative due to an unauthorised overdraft (“Shortfall”), you must immediately cover this Shortfall by depositing funds into your Business Account. We reserve the right to immediately offset any amounts in accordance with the User Agreement to cover a Shortfall.

   3. The Account Holder is liable for the debit interest on a Shortfall. The debit interest rate is set to the statutory commercial interest rate applicable in the Netherlands. We may apply changes to the debit interest rate and we will notify you.

   4. All reasonable judicial and extrajudicial costs incurred or to be incurred by Mollie concerning the collection of a Shortfall shall be borne by the Account Holder.

3. Access to the Business Account and performing Payment Transactions

   1. You gain access to your Business Account and may perform Payment Transactions by using personal login credentials and additional security measures, which may include multi-factor authentication (more commonly known as Strong Customer Authentication or SCA).To use the Business Account, including the authorisation of certain Payment Transactions, you must possess a mobile phone and register your phone number with Mollie.

   2. By using our payment services, You agree to the use of the underlying payment providers and/or Intermediaries, and their execution of the respective Transactions using a method agreed between the Parties.

   3. We may choose to exempt applying Strong Customer Authentication for certain Payment Transactions in accordance with applicable law, such as but not limited to: low-value transactions, recurring transactions (e.g. subscription payments), payment to trusted beneficiaries and/or secure corporate payments. We may nevertheless decide to apply Strong Customer Authentication in the case such application is optional under law or regulation.

   4. Unauthorised login attempts to your Business Account will be recorded, and multiple failed login attempts or other abnormal activities may result in a temporary suspension of access to the Business Account for your safety or the security of our systems. We will inform you if we temporarily block access to, or use of, your Business Account without undue delay.

4. Authorised Persons and Users

   1. In principle, only the Account Holder is authorised to manage the Business Account. The Account Holder can authorise someone else ("Authorised Person") to manage the Account. An Authorised Person is authorised to perform all actions on the Business Account on behalf of and for the account of the Account Holder that the Account Holder is authorised to perform, unless Mollie has only granted partial rights to the Authorised Person. Neither the Account Holder nor the Authorised Person has any right of substitution of the rights and obligations laid out in these Business Account Terms.

   2. The registration of an Authorised Person is conducted either electronically or in writing, as determined by Mollie from time to time. In many cases, Mollie will need to verify the identity of the Authorised Person according to laws and regulations before granting access to the Business Account services. Upon Mollie's first request, the Account Holder must provide a valid copy of an identity document and/or other documents providing insight into the identity of the Authorised Person, and allowing Mollie to verify it.

   3. The Authorised Person is bound by the provisions of these Business Account Terms in the same manner as the Account Holder. If the Authorised Person fails to comply with the Business Account Terms, they are liable towards Mollie. The Account Holder remains jointly liable to Mollie for all obligations under these Business Account Terms and for all actions performed by the Authorised Person.

   4. The authorisation remains in effect until Mollie has been notified by the Account Holder of the revocation of the authorisation and has confirmed that the authorisation has been revoked. It is the responsibility of the Account Holder to timely revoke or impose restrictions on the Authorised Person’s authority (e.g., if he/she is no longer under employment). Mollie is entitled to execute Payment Orders issued by the Authorised Person prior to or shortly after Mollie has been informed of the revocation of the authorisation if Mollie cannot reasonably prevent the execution.

   5. If there is more than one Authorised Person concerning the Business Account and there is a dispute over the authority to manage the Business Account, Mollie is entitled to suspend the authority over (the balance of) the Business Account in whole or in part for all Authorised Persons during the dispute. If Mollie exercises this authority, it must inform the relevant Account Holder(s) of this, stating the reason. Mollie is not liable for damage arising from or as a result of suspending the authority over the Business Account.

   6. The Account Holder is responsible for managing the rights and activities of Users. Mollie is entitled to rely on, and the Account Holder agrees to be bound by, instructions and confirmations provided by Users to Mollie. When granting access and usage rights to Users, the Account Holder must ensure that (i) the rights of the Users are in accordance with their role within the company or individual's mandate, (ii) access/login credentials are not shared among two or more Users; and (iii) access/login credentials are immediately revoked when the User is no longer authorised to access and/or perform actions related to the Business Account. 

   7. When required by applicable law, the Account Holder must provide Mollie with information and documentation that allows Mollie to reasonably identify and verify Users.

   8. The Account Holder is responsible for the behaviour of its Users, and will ensure that the Users use the Business Account in accordance with these Business Account Terms.

   9. The Account Holder, Authorised Person(s) and User(s) must be at least 18 years of age.

5. Payment Orders

   1. Payment Orders must be submitted electronically via the Dashboard, the Mollie App, or in another manner as prescribed by Mollie. Mollie may invalidate a Payment Order if it does not comply with the method of order submission provided by Mollie. Mollie is not liable for any damage the Account Holder suffers from invalidating a Payment Order.

   2. Mollie may modify the method of order submission unilaterally at any time and will inform the Account Holder in advance if possible.

   3. In many cases, SEPA Payment Orders are processed immediately upon receipt using SEPA Instant Credit Transfer, regardless of whether this time is outside Mollie's regular business hours or if the Payment Order is received during the weekend. For Payment Orders other than SEPA Instant Credit Transfer, Article 5.4 applies.

   4. If a Payment Order is received on a Business Day and before the relevant Cut-Off Time, Mollie will begin executing the Payment Order on the same Business Day. If a Payment Order is received on a non-Business Day or after the relevant Cut-Off Time, Mollie will consider it received on the next Business Day.

   5. Payment Orders cannot be revoked once received by Mollie, unless stipulated differently in these Business Account Terms.

   6. If the Account Holder indicates that the execution of a Payment Order should occur on a future date, the time of receipt of the Payment Order will be the future date specified by the Account Holder.

   7. If the Account Holder discovers an inaccuracy or incompleteness in the Payment Order or its execution, he must report this as further described in Article 9. Meanwhile, the Account Holder will take all reasonable measures to minimise or prevent the risk of damage.

   8. Mollie will execute Payment Orders based solely on the account number provided and the  account number shall be the definitive reference for determining whether Mollie has properly executed the Payment Transaction. The Account Holder acknowledges and accepts that Mollie’s liability in these cases is limited to the correct execution as per the account number supplied. Where Mollie is required under Intermediary rules or applicable regulations to verify if the account number matches the beneficiary name, Mollie will notify the Account Holder in case of a no-match or partial match. If the Account Holder nonetheless proceeds with the Payment Order, the Account Holder assumes full responsibility and liability for any resulting losses or damages. Mollie shall not be liable for any loss in such circumstances.

6. Payment Transactions

   1. A Payment Transaction to an account at a bank in an EEA country will be transferred to the beneficiary's account no later than one (1) Business Day after receipt by Mollie.

   2. A Payment Transaction in the currency of an EEA country that does not use the euro will be transferred to the beneficiary's account no later than four (4) Business Days after receipt.

   3. For Payment Transactions other than those mentioned in Articles 6.1 and 6.2, different execution periods apply. For more information about these execution periods, you can contact Mollie.

   4. For the execution of certain Payment Transactions and related additional services via your Business Account, Mollie may provide certain identifiers (such as a unique payment session or profile characteristic) to the relevant Intermediary of the respective service, in order to enable proper processing of the service and any related value-added services.

   5. When Mollie receives a deposit on behalf of the Account Holder, the corresponding amount will be available in the Business Account within one (1) Business Day.

   6. Payment Transactions may be reserved by Mollie before the booking takes place. The credit or debit entry will be executed by Mollie as soon as possible thereafter.

   7. If the Account Holder transfers an amount to a beneficiary with an account number in a 'switching process'/'switching service', Mollie may redirect the payment to the beneficiary's account number at their new bank or payment service provider without the Account Holder's consent.

7. Refusal of Payment Orders and Payment Transactions

   1. Mollie is authorised to refuse the execution of incomplete, incorrect, or unclearly submitted Payment Orders. 

   2. If there are suspicions of irregularities, Mollie may refuse to execute Payment Orders until it is established that the suspicion is unfounded.

   3. Payment Orders will not be executed by Mollie in the event of insufficient balance or if the Business Account is blocked.

   4. Mollie is authorised to refuse Payment Orders and Payment Transactions if the payment or its execution is contrary to applicable laws and regulations or Mollie's policies, or if required third parties (such as the payment infrastructure provider) do not permit them.

   5. In the aforementioned circumstances, Mollie is not liable to the Account Holder for any damage resulting from not (timely) executing Payment Orders or Payment Transactions.

   6. When Mollie refuses to execute a Payment Order, the Account Holder will be informed of the refusal and, if possible, the reasons for it and the procedure for correcting any factual inaccuracies that led to the refusal, unless applicable laws and regulations prohibit this.

8. Direct Debits and Reversal

   1. The following provisions, and all provisions related to direct debits, apply only to Business Accounts with direct debit functionality. Please consult Mollie regarding the functionality of your Business Account and which types of direct debits (standard and/or business) are applicable. Articles 8.4 and 8.5 apply to standard direct debits.

   2. A direct debit transaction is a one-time or recurring Payment Transaction in euros based on a direct debit mandate, debiting the Business Account and crediting a beneficiary's account. A direct debit can occur in the form of a ‘standard direct debit’ or a ‘business direct debit’.

   3. Direct debit instructions can only be successfully executed if there is sufficient balance on the Business Account and no direct debit blocks or other (temporary) blocks are in place according to these Business Account Terms.

   4. At the request of the Account Holder, Mollie can reverse (refund) a standard direct debit transaction within eight (8) weeks regardless of the reason for the refund, unless we have reasonable suspicion of fraud. Within a maximum of one (1) Business Day after receiving a timely and correctly submitted reversal request, Mollie will refund the full amount of the relevant standard direct debit transaction to the Business Account.

   5. If the Account Holder believes that a direct debit transaction was unauthorised and the period specified in Article 8.4 has expired, they must inform Mollie within thirteen (13) months of the date of the direct debit transaction with a request for a refund. Mollie will assess this request to determine if the amount should be refunded and will initiate the refund if necessary. If the refund request is denied, Mollie will share its considerations with the Account Holder.

   6. The Account Holder will be notified of the reversal of a direct debit transaction via the Dashboard, the Mollie App, and/or through a (digital)statement.

9. Errors in information or Payment Transactions

   1. The Account Holder must check the content of data and information provided by or on behalf of Mollie or made available electronically immediately upon receipt. This includes verifying the accuracy and completeness of executed Payment Transactions.

   2. If the Account Holder disputes the content of data and/or information they must report this to Mollie as soon as possible, but within three (3) months after the information was provided.In the case of disputing a debit or credit entry to the Business Account, the period starts from the booking date.

   3. After the period of three (3) months has expired, the Account Holder is deemed to have agreed with the data and information provided by or on behalf of Mollie, as well as with the executed Payment Transactions.

   4. If calculation errors are found in the data and information provided by or on behalf of Mollie, Mollie is authorised and obligated to correct these calculation errors, even after the period of three (3) months has expired. Mollie further reserves the right to correct its own errors or mistakes without the consent of the Account Holder, including reversing unauthorised Payment Orders or Payment Transactions.

   5. At the request of the Account Holder, Mollie may, within six (6) months after the booking date, ask the beneficiary of the payment to refund the transferred amount to the Account Holder. Such a request does not guarantee a refund by the beneficiary. The beneficiary decides whether to refund the Account Holder. The Account Holder must clearly state and substantiate the reasons for their request. Mollie reserves the right not to process the request under certain circumstances, for example, if the Account Holder does not have a reasonable ground for their request.

   6. If a transfer is made to an unintended or incorrect account number by the Account Holder and the beneficiary does not refund, Mollie will, at the request of the Account Holder, attempt to share information about the beneficiary with the Account Holder so that the Account Holder can pursue a claim for wrongful payment directly with the beneficiary.

   7. If the Account Holder is the beneficiary of an incorrect payment and the payer requests a refund of the amount, we will, upon request, provide the payer's bank with information about the transaction.

10. Security measures for Business Accounts

    1. The Account Holder agrees to comply with applicable security guidelines as communicated by Mollie from time to time or as described in the Business Account Terms.

    2. The Account Holder ensures that all login credentials, including usernames, passwords, and other security information in their possession, are kept securely. The Account Holder is responsible for implementing appropriate security measures to prevent unauthorised access.

    3. The Account Holder is responsible for the actions of Authorised Persons and Users and ensures that they do not share login credentials with unauthorised parties. The Account Holder will not grant access to the Business Account or Cards to unauthorised persons.

    4. The Account Holder must inform Mollie immediately if the security of the Business Account is at risk or may be compromised, for example if login credentials have been lost or stolen or have otherwise been disclosed in an unauthorised manner. The Account Holder must take all reasonable measures to prevent or limit damage, for example by temporarily blocking the Business Account. Notwithstanding the foregoing, Mollie reserves the right to temporarily block access to or use of the Business Account if there is a suspicion of unauthorised access to the Business Account.

    5. The Account Holder must regularly change passwords and ensure reasonable password complexity to maintain the security of the account.

    6. The Account Holder must ensure that all hardware and/or software used to access the Business Account is up-to-date, including antivirus and antimalware software.

    7. The Account Holder must periodically review access and Payment Transactions conducted via the Business Account to timely detect unauthorised activities.

    8. The Account Holder ensures that all Authorised Persons and Users with access to the Business Account are adequately trained and aware of security guidelines.

    9. The Account Holder, Authorised Persons, and Users must comply at all times with Mollie's security policies and guidelines, as amended and provided by Mollie from time to time.

11. Open Banking

    1. The Account Holder can grant another payment service provider (account information service provider or payment initiation service provider) access to the Business Account to provide account information services  or initiate Payment Transactions on behalf of the Account Holder. This is commonly referred to as ‘Open Banking’. For Payment Initiation Services, Mollie shares your account and payment data necessary for executing a payment order with the payment initiation service provider. For Account Information Services, Mollie shares transaction information with the account information service provider regarding the Business Account(s) designated by the Account Holder.

    2. If the Account Holder wishes to grant a third-party payment service provider access to the Business Account for the purposes of Open Banking, the Account Holder must first give explicit consent to such a third party payment service provider. Mollie will verify the access request based on policy and security requirements set out in the Payment Services Directive II (PSD2) and other relevant laws and regulations.

    3. If the Account Holder wishes to withdraw their mandate to account information services or payment initiation services of other payment service providers, the Account Holder must terminate these services directly with the respective payment service providers.

12. Term and Termination

    1. The Business Account Terms are entered into for an indefinite period and can be terminated in accordance with the notice periods stated in the User Agreement.

    2. Upon sending or receiving a written notice of termination, Mollie will begin the settlement process for the Business Account. The Account Holder must ensure that no more Payment Orders or Payment Transactions occur via the Business Account after termination. Any debit balances and all other claims of Mollie against the Account Holder under these Business Account Terms become immediately due and payable upon termination.

    3. Mollie reserves the right to terminate the Business Account Terms with immediate effect if required by (changes in) laws or regulations, making it reasonably impossible to continue providing the services. Mollie is not liable for any compensation in such cases.

    4. The Account Holder is responsible for the costs of Payment Transactions related to the Business Account, even if these occur after termination. These costs will be charged by Mollie as soon as possible after the termination of the Business Account. If the Business Account Terms are terminated during a period for which fees are owed to Mollie, these fees remain payable.

    5. Mollie will close the Business Account once all costs have been paid, any debit balances have been settled by the Account Holder, any credit balances have been refunded by Mollie to the Account Holder, and no mutual claims exist regarding these Business Account Terms.

    6. The time required to close the Business Account may depend on other products linked to the Account and the cooperation of the Account Holder. The Business Account Terms will terminate as soon as the Business Account is finally closed.

13. Blocking of Business Account, suspension or termination under special circumstances

    1. Mollie is authorised to partially or entirely block, suspend or terminate the Business Account (and/or Cards (i) in the event of an attachment order against Mollie directed at the Account Holder, (ii) for reasons related to the security of the Business Account or the Card, (iii) if you seriously or repeatedly violate our terms, for example by granting access to unauthorised persons, (iv) in case of suspected unauthorised or fraudulent use of the Business Account, (v) if we have asked you to repay the money you owe us and you have not done so within a reasonable period, (vi) if there is a significant change in the composition of the ultimate beneficial owners or the senior management of your organisation, (vii) if Mollie has reasonable grounds to believe that you have disposed of business assets, (viii) if you are a sole trader and pass away, or if you are a partner in a business and the partnership ends, (ix) if Mollie must do so under any law or regulation, court order, or instructions from an ombudsman or competent arbitrator.

    2. In the event of suspending or blocking your Business Account and/or Card(s), Mollie will inform the Account Holder without undue delay, unless such notification would compromise security considerations or is prohibited under other applicable national or international laws and/or regulations.

    3. Mollie is not liable for any damages the Account Holder may suffer due to the blocking, suspension or termination of the Business Account or Card(s) as a result of the circumstances mentioned under section 13. 

    4. Mollie will lift the block or suspension on the Business Account or Card as soon as the reasons for the blocking no longer exist.

14. Inactive Account

    1. Mollie reserves the right to close the Business Account if no Payment Transactions have occurred concerning the Business Account for a period of twelve (12) months, and/or if Mollie is unable to reach the Account Holder despite reasonable attempts for a period of more than six months. Any debit balances are immediately due and payable and remain subject to any applicable overdraft interest.

15. Remaining Balance upon Closure of Business Account

    1. After your Business Account is closed, and if the closure is not due to circumstances mentioned in Article 13, you can withdraw the remaining balance in any currency held in the account at that time by transferring it to an external account.

    2. Upon closure of the Business Account, you will no longer be able to increase the balance or make payments with or without the Card. Incoming payments will be refused and returned to the sender.

16. Fees and Charges

    1. The fees that the Account Holder owes to Mollie for using the Business Account and performing Payment Transactions are listed in Annex 1: Fee Schedule or otherwise made public on our website.

    2. The fees are dependent on, but not limited to, economic and market conditions, developments in the money and capital markets, technological and societal developments, changes in our range of products and services, operational costs, and costs related to control measures arising from the implementation of laws and regulations or measures from our regulators (including laws and regulations or measures aimed at preventing money laundering or other (financial) fraud, financing of terrorism, violations of sanctions regulations, and/or maintaining the integrity of the financial system). Mollie may also apply differentiated fees.

    3. During the term of the Business Account Terms and Conditions, the Account Holder can review digital versions of the Fee Schedule at Mollie.

    4. Mollie is authorised to charge all interest, costs, and fees for maintaining and using the Business Account, as well as all other fees listed in the Fee Schedule, to the Business Account.

    5. We may change fees at our sole discretion and we will communicate any changes to you prior and without undue delay. By continuing to use our Business Account services, you agree to the new fees as communicated from time to time.

17. Cost allocation for international Payment Transactions

    1. There are three ways in which the costs for an international Payment Transaction can be divided:

• Shared Cost (SHA): The Account Holder pays Mollie's fees, while the beneficiary bears the remaining costs.

• Our Cost (OUR): The Account Holder pays all the costs.

• Beneficiary Cost (BEN): The beneficiary pays all the costs.

2. If Mollie conducts a payment on behalf of the Account Holder to a bank account in an EEA country, or a euro payment to a SEPA country outside the EEA, the costs will always be divided according to the SHA principle, even if the Account Holder has chosen a different cost allocation.

3. For other international payments, we follow the cost allocation as indicated in the payment instruction (SHA, OUR, or BEN).

4. If an incoming payment is marked as BEN or SHA, the costs will be passed on to the Account Holder according to the sender’s instructions. Mollie may deduct these costs from the transaction amount. The costs and the transferred amount will be listed separately, and the Account Holder can find this information on their account statement or via the Dashboard or the Mollie App.

18. Representations and Warranties

    1. The Account Holder hereby represents and warrants to Mollie the following:

       1. The Account Holder conducts its business operations in full compliance with all applicable laws and regulations.

       2. The Account Holder will use the Business Account solely for legitimate business purposes and will refrain from any use that is illegal or that is improper, misleading, or fraudulent.

       3. The Account Holder is fully authorised to open a Business Account with Mollie on behalf of the organisation and to sign all necessary documents and perform all actions required in connection with the opening and management of the account.

       4. The Account Holder will provide Mollie with all information that Mollie reasonably deems necessary to verify compliance with the terms of this Agreement. This includes, but is not limited to, information about the identity of ultimate beneficial owners, the nature of the business activities, and financial information of the organisation.

       5. The Account Holder’s organisation is duly incorporated and legally exists under the laws of the jurisdiction of incorporation.

       6. The performance of the obligations under this contract by the Account Holder does not breach any agreement, mortgage, pledge, or other legal obligations the Account Holder has towards third parties.

       7. The Account Holder is in a financially stable situation and is not involved in any bankruptcy proceedings, suspension of payments, or other financial restructurings or negotiations that may negatively impact its ability to fulfill its obligations under this Agreement.

       8. The Account Holder will immediately inform Mollie if the nature of the organisation or any information provided during the process of opening the Business Account materially changes.

19. Bankruptcy, suspension of payments, statutory debt restructuring, and attachment

    1. In the event of the Account Holder's bankruptcy, suspension of payments, or statutory debt restructuring, the Account Holder will lose the ability to use the funds available in the Business Account.

    2. In the event of an attachment order against Mollie directed at the Account Holder, the Account Holder may no longer access the balance in the Business Account subject to the attachment. This pertains to the balance at the time of the attachment or the funds thereafter as long as the attachment is effective. If the Account Holder makes payments in violation of the attachment and Mollie is subsequently required to remit the attached balance or a portion thereof to the bailiff, an obligation from Mollie to the Account Holder will arise.

20. Communication

    1. Mollie can communicate with the Account Holder and make information available in the following ways:

• In writing: via letter, statement, or invoice.

• Orally or by telephone: via telephone calls, voice computers, and SMS messages.

• Electronically: via email, the Dashboard, the Mollie App, and/or www.mollie.com.

• Via the screen of a payment device or ATM (if this payment functionality is activated): relevant information will be displayed on the device's screen.

2. If there is a suspected or actual fraud or security risk, Mollie will inform the Account Holder through one of the available channels.

3. Communication between Mollie and the Account Holder will take place in Dutch or English, unless otherwise agreed by Mollie.

4. The Account Holder must ensure that Mollie always has the correct address information, so Mollie can send payment instruments and other important information to the correct address. Any address changes must be communicated to Mollie as soon as possible.

5. Notwithstanding any other provision of these Business Account Terms, any communication, documentation, or notification, including account statements, may be delivered to you electronically, including by placing and/or uploading them to your Dashboard or the Mollie App.

6. Communication, documentation, or a notification made via the Dashboard or Mollie App is deemed to have been delivered to you at the moment the communication, documentation, or notification is visible in your Dashboard or Mollie App.

21. Non-transferability of claims

    1. Without the written consent of Mollie, the Account Holder's right of claim arising from a positive balance on the Business Account cannot be transferred or pledged within the meaning of Article 6:83 paragraph 2 of the Dutch Civil Code (Burgerlijk Wetboek), and no financial security agreements to transfer and no financial security agreements to establish a pledge can be entered into in relation thereto. If the Account Holder attempts to transfer or pledge the claim right, no transfer will take place, nor will the pledge be established. The aforementioned consent is not required when the transfer or pledge, or the entering into of a financial security agreement to transfer or a financial security agreement to establish a pledge, concerns Mollie itself.

22. Rights of Third Parties

    1. A person who is not a Party to these Business Account Terms has no right to enforce or to enjoy any provision of these Business Account Terms.

23. Liability, Indemnification, and Force Majeure

    1. Mollie is only liable to the Account Holder for damage that directly results from its intentional misconduct or gross negligence. To the extent permitted by law, Mollie's liability in all cases, including tort or negligence, is limited to a maximum amount of 100 euros (one hundred euros) per calendar year, unless applicable laws and regulations mandate otherwise.

    2. Under no circumstances is Mollie liable to the Account Holder for damage or loss resulting from (i) recklessness, errors, or negligence of the Account Holder, including but not limited to incorrect Payment Instructions or inadequate security or protection of personal login credentials or access to Cards, (ii) failure to promptly report lost, stolen, misappropriated or unlawfully used login credentials or Cards, (iii) fraud committed by the Account Holder, Authorised Persons, or Users, or (iv) illegal acts committed by the Account Holder, Authorised Persons, or Users, in the broadest sense of the word.

    3. Mollie is not liable for any indirect, incidental, or consequential damage arising from or related to the implementation of these Business Account Terms. Indirect, incidental, or consequential damage includes, but is not limited to, lost profits, missed savings, damage due to business interruption, and damage due to technical failures.

    4. The Account Holder is responsible for the accuracy of all information they provide to Mollie and indemnifies Mollie against damage resulting from inaccuracies or incompleteness in the provided information.

    5. In the relationship between Mollie and the Account Holder, the data from Mollie's administration serves as conclusive evidence until the Account Holder provides evidence to the contrary. Mollie is not obliged to retain its records longer than the statutory retention periods.

    6. Neither Party is liable to the other Party for any delay or failure in the performance of their obligations under these Business Account Terms and Conditions, except for the obligation to pay fees and/or charges for Mollie’s services, as a result of force majeure, which includes natural disasters, war, epidemics, strikes, government actions, telecommunication or electricity service disruptions, or other circumstances beyond the reasonable control of the Party (collectively: "Force Majeure").

24. Applicable Law and Disputes

    1. These Business Account Terms are governed by the law and jurisdiction as specified in the User Agreement.

    2. The parties agree to take all steps necessary to reach an amicable agreement to any dispute or claim arising in relation to the validity, interpretation or fulfillment of the Business Account Terms. If a dispute cannot be settled amicably within thirty (30) days from the date on which either Party has provided written notice of the dispute, then the Parties will be bound by the dispute resolution procedure set out above.

Annex I: Card terms and conditions

Mollie Business Account Card Terms

These terms (Card Terms) complement and extend the Mollie Business Account Terms. For more information regarding using Cards in combination with a Mollie Business Account, please contact Mollie.

Article 1. General Provisions

These Card Terms apply if you activate one or more Cards in connection with your Mollie Business Account. Each Cardholder must use the Card in accordance with these Card Terms. 

The Cardholder can use the Card to make transactions (“Card Payment Transactions’). Functionality and user limits of the Card may vary depending on the relevant corporate/business card program (the “Card Program”). The Card Program is a MasterCard Business Debit. For more information about your specific Card Program, please consult help.mollie.com or contact us directly.

The Card is valid until the last day of the month indicated on the Card. Mollie may shorten or extend the validity of a Card in its reasonable discretion. Before the Card expires, Mollie will provide the Cardholder with a new Card. The Cardholder must activate the new Card as soon as possible. To prevent misuse, the Cardholder must destroy an expired physical Card by cutting it (including the chip) before disposing of it.

Cards may not be altered or copied without our explicit consent. The Card remains the property of Mollie. When you no longer use a physical Card(s), it must be returned to Mollie or otherwise disposed of in a suitable manner as communicated by us.

We reserve the right to suspend, restrict, or terminate your use of the Card or card functionalities at any time for security, compliance, legal, or risk reasons, or due to actual or suspected improper, illegal, or fraudulent activity. We will inform you of such actions and the reason for them, where possible and permitted by law.

Article 2. Payment, charges and fees

When the Card is used, the amount of the Payment Transaction will be debited from the associated Business Account on Business Days without delay and reserved on non-Business Days. By using the Card in combination with the security code or via contactless payment, the Cardholder thereby consents and instructs Mollie to execute the Payment Instruction. Unless otherwise specified, the Payment Instruction cannot be revoked by the Cardholder thereafter.

The Account Holder is responsible for paying the relevant charges and fees associated with the use of the Card. Additional fees or charges may apply for certain types of Card transactions (such as foreign exchange, ATM withdrawals, declined transactions, or replacement cards), and all such fees are published on www.mollie.com/gb/pricing. Currency conversion rates are subject to change and may vary depending on the date and time the transaction is processed.

Charges and Fees may be periodically deducted from the available funds in your Business Accounts. You are solely responsible for any fees or charges applied by other banks, ATMs, or merchants in relation to the use of the Card. Any negative balance created by fees, charges, or transactions must be restored by the Account Holder immediately upon notice from Mollie.

Article 3. Additional Cardholders and identification

The Account Holder can request Mollie to issue a Card for Authorised Persons and/or Users. Unless determined otherwise by us, the Card must be requested and issued in the name of the respective Cardholder. Pursuant to applicable anti-money laundering and financial crime legislation, we may be required to verify the identity of a Cardholder, and the Account Holder shall provide a copy of the intended Cardholder's identification document(s) within three (3) working days of having received a request from Mollie.

The Card Terms apply to all Cardholders. The Cardholder as well as the Account Holder are jointly and severally responsible towards Mollie for all Card Payment Transactions made with the Card and for compliance with these Card Terms. The Account Holder is obliged to inform Cardholders of the obligations arising from using a Mollie Card by providing them a copy of these Card Terms before they are allowed to use the Card.

The Account Holder may suspend or revoke a Card at any time in accordance with the procedures prescribed under the Card Program. After a Card is suspended or revoked, the Cardholder can no longer instruct a Card Payment Transaction using the Card until it is re-activated.  

By requesting or using a Card, the Account Holder and Cardholder confirm that all information provided to Mollie is accurate and up to date, and will promptly notify Mollie of any changes to personal or business details.

Article 4. Card Limits and restrictions

Card limits, such as maximum Payment Transaction amounts, may apply to your card program. Mollie may change certain transaction limits with immediate effect and without prior notice if this is reasonably necessary to protect the integrity or security of your Business Account. We will notify you without undue delay if this is the case.  Spending or withdrawal limits may also be set at an aggregate or cumulative level across multiple Cards or Cardholders associated with the same Business Account. For more information about the applicable Card limits and your card program, please consult your Mollie App or Dashboard, or help.mollie.com.

You may not use or attempt to use the Card for any unlawful purposes, including, without limitation: fraud, money laundering, or the purchase of prohibited goods or services, or in violation of applicable laws, card network rules, or Mollie’s policies as notified to you or published from time to time.

Article 5. Security and blocking your Card

A Card is strictly personal and may not be given to someone else. Upon receipt of a Card, the Cardholder must take all reasonable measures to ensure the confidentiality of personalised security credentials and at all times prevent unauthorised use of the Card(s) by others. The following instructions are the minimum requirements with which every Cardholder must comply, and may be amended by us from time to time in our sole discretion:

• When being issued a physical Card, the Cardholder must always store the PIN code safely. This means that the initial letter or email containing the PIN code is destroyed immediately after reading, and that the PIN code is not written down or stored in an unsecured manner or on the Card itself. Never share the PIN code with anyone else and do not allow others to help you enter the PIN code. Mollie employees will never ask the Cardholder to provide the PIN code. 

• Store the Card in a manner that it cannot be accessed by others unnoticed and do not hand over your Card to others.

• Do not use the Card if you suspect or are aware that the situation is or may be unsafe.

• Do not allow yourself to be distracted while using the Card.

In the event of loss, theft, unauthorised use, misappropriation, including when the Cardholder has not retrieved the Card after making a payment or withdrawing cash from an ATM, you must, immediately upon becoming aware, block the Card and notify Mollie through the Mollie app or Dashboard. You may also notify us by telephone via the Emergency number +31 20 793 1118. 

If you suspect any suspicious or fraudulent activity on your Card or Business Account, you must notify us as soon as possible and cooperate fully with any investigation. You agree to provide any evidence, police reports, or other information needed by Mollie or law enforcement authorities in connection with reported loss, theft or unauthorised use.

You must check transaction history regularly for any unauthorised or unusual activity and notify Mollie immediately of any discrepancies. 

Failure to immediately take appropriate action and/or notifying us, constitutes gross negligence and Mollie shall not be liable for any damages resulting from unauthorised charges or Payment Transactions.

Article 6. Refused, invalidated or seised Card

The Card and/or Card Payment Transaction may be refused, blocked, seised, or invalidated in the following (non-exhaustive) situations:

• If Mollie has reasonable suspicion that the Card is stolen or misappropriated, or in any way is used without the consent of the Account Holder or Cardholder.

• The Cardholder has entered an incorrect PIN code several times.

• The Card is damaged.

• The (payment) terminal is damaged.

• On request from law enforcement, regulators, card networks, or where required by law.

Mollie is not liable for any loss or damage suffered by you as a result of a refusal, seizure, or invalidation of your Card or Payment Transaction, provided Mollie acted lawfully and in accordance with these Card Terms.

Article 7. Liability 

Until notification to Mollie in accordance with Article 5, the Account Holder shall be liable for unauthorised Card Payment Transactions to the extent permitted under applicable laws and regulations. Under no circumstances shall Mollie be liable for damages (or part thereof) caused by the Cardholder’s intent, fraud or gross negligence, including failure to comply with its material obligations under Article 5.

You will reasonably cooperate with an investigation into an unauthorised Card Payment Transaction, and may be required to provide additional documentation supporting your claim. If we determine that an unauthorised Card Payment Transaction has occurred for which you are not liable, we will reimburse the disputed amount without undue delay, unless applicable laws or regulations require us to withhold reimbursement. 

Article 8. Special termination

These Card Terms cease to apply when your Business Account is closed in accordance with the Mollie Business Account Terms. We may also terminate or suspend the issuance or use of Cards at any time by giving reasonable notice or immediately without notice if required for security, legal, risk, fraud prevention, or regulatory reasons. Upon termination, you must immediately stop using and destroy all Cards. Any balance remaining on your Business Account will be handled in accordance with the Mollie Business Account Terms.

Annex II: Mollie Cashback Reward Program

Terms and Conditions

Mollie Cashback Reward Program

These terms and conditions (the “Terms”) govern participation in the Cashback Reward Program (the “Cashback Reward Program”). By participating in the Program, the Account Holder, its authorised representatives, and users agree to be bound by these Terms.

1. Definitions

Unless the context requires otherwise, the following definitions apply:

Account Holder means a business customer that holds a Mollie Business Account.

Cashback means the reward credited in accordance with a Reward Campaign.

Cashback Reward Program means the cashback reward program described in these Terms.

Campaign Promotion Period means the period during which one or more Reward Campaigns are offered by Mollie.

Mollie means Mollie B.V. and/or any of its subsidiaries or affiliates issuing the Mollie Card.

Mollie Business Account means the business account provided by Mollie under the applicable Mollie Business Account Terms.

Card means a Mollie-issued business debit card, whether physical or virtual, governed by the applicable terms of use under which it is issued to the Account Holder.

2. Description of the Cashback Reward Program

2.1 Under the Cashback Reward Program, eligible Account Holders may receive Cashback on qualifying transactions executed with a Card, subject to these Terms and the terms of the individual Reward Campaigns as referenced under Article 2.3. 

2.2 The Cashback Reward Program applies to Cards issued under the Business Account as identified by its unique IBAN. Certain Cards may be explicitly excluded from the Cashback Reward Program.

2.3 The Cashback Reward Program may consist of one or more promotional or ongoing reward campaigns (each a “Reward Campaign”). Each Reward Campaign may have its own specific conditions, including (without limitation) eligibility criteria, qualifying transactions (and any exclusions), Cashback rates, maximum Cashback amounts, calculation method, accrual period, payout timing, and duration. The specific conditions for each Reward Campaign are published on our Reward Campaign page, available at www.mollie.com/products/business-accounts

3. Campaign Promotion Period and Cashback

3.1 Each Reward Campaign commences on a start date to be determined by Mollie and continues until terminated or amended by Mollie at its discretion (the “Campaign Promotion Period”).

3.2 Mollie may end, suspend, extend, or modify a Campaign Promotion Period at any time, with or without prior notice.

3.3 In order to receive Cashback, Account Holder must be deemed eligible in accordance with these Terms and any eligibility criteria applicable to the Reward Campaign. 

3.4 Account Holders may be required to opt-in via the Mollie Dashboard or Mollie App in order to participate in one or more Reward Campaigns.

3.5 Cashback is calculated per successfully executed (i.e. captured and settled) Card transaction. Under no circumstances shall Cashback accrue on declined, failed, Chargeback, reversed, or otherwise unsuccessful Card transactions.

3.6 Cashback is calculated based on a denomination of the value of the Card transaction in euro, and subsequently credited in EUR unless expressly stated otherwise in the Reward Campaign.

3.7 Account Holder may be required to “cash-in” accrued Cashback amounts via the Mollie Dashboard or Mollie App in order for the amount to be credited to the Business Account. Mollie is not required to credit Cashback amounts if the Account Holder fails to do so within six (6) months, unless specified otherwise in the applicable Reward Campaign.

3.8 Cashback amounts shown as eligible, pending, or similar represent a promotional reward and do not form part of your account balance. Until claimed, such amounts constitute only a contractual entitlement to request payment of the reward, subject to the applicable Reward Campaign conditions, and do not represent electronic money or funds held on the Mollie Business Account. Once claimed and credited, the amount will be added to the account balance and may be used accordingly.

3.9 Mollie reserves the right to delay crediting in the event of technical issues, suspected fraud, required verification checks, or in accordance with any other provision in the User Agreement, Business Account Terms or these Terms.

3.10 The Account Holder is solely responsible for determining any tax obligations (including corporate income tax or VAT) arising from the receipt of a Cashback amount. Mollie makes no representation as to the tax treatment of a Cashback and does not provide tax advice.

4. General eligibility and payout

4.1 The Cashback Reward Program applies exclusively to Mollie Cards and may only be used in accordance with all applicable terms and conditions, including the Card Terms, these Terms and the Applicable Reward Campaign terms. Transactions and underlying products purchased with the Card must be lawful and must not relate to illegal, prohibited, or restricted goods or services. The Mollie Business Account must be active, valid, and not suspended or terminated at the time Cashback is credited.

4.2 Mollie may at its discretion exclude specific Card transactions, merchants, categories, or use cases from eligibility. Unless explicitly stated otherwise in the Reward Campaign, Cashback is not awarded on Card transactions that fall into the following categories based on their respective Merchant Category Code (“MCC”):

• Cash & Quasi-Cash: ATM withdrawals, foreign currency exchange, money orders, or travelers cheques.

• Financial Services, such as loan payments, credit card payoffs, or crypto-asset purchases.

• Government & Utilities, such as tax payments, fines, bail, or court costs 

• Gambling and betting, such as lottery tickets, or casino chips.

• Any other category Mollie publishes as excluded in the Reward Campaign as published from time to time. Mollie reserves the right to update the list of excluded transactions at its sole discretion.

• Any Card transaction where the beneficiary of the payment is the Account Holder itself, an Affiliate of the Account Holder, or any entity processing payments through Mollie’s payment processing services on behalf of the Account Holder. Cashback does not accrue on transactions that result in the recycling of funds through the Account Holder’s own payment acceptance flow.

4.3 Cashback eligibility is based on the MCC assigned by the card network and the payee. Mollie is not responsible for, and cannot correct, inaccurate MCC classifications by third parties.

5. Reversals, Chargebacks, and corrections

5.1 If a Card transaction in respect of which Cashback has been credited is later charged back, refunded, reversed, or otherwise invalidated, the corresponding Cashback entitlement is reduced accordingly.

5.2 Without prejudice to Mollie’s set-off rights as stipulated in the User Agreement and/or the Mollie Business Account terms, in the event of an adjustment or error in the calculation or crediting of Cashback, Mollie may set-off an incorrect amount with any funds held by Mollie for or on behalf of the Account Holder.

6. Abuse and disqualification

6.1 Mollie may withhold, reduce, or reclaim Cashback, or exclude an Account Holder from the Cashback Reward Program and any associated Reward Campaign, if Mollie reasonably determines that:

• these Terms or any applicable Mollie terms have been breached;

• the Cashback Reward Program has been abused or used in bad faith; or

• fraudulent, unlawful, or improper activity has occurred.

6.2 If the Mollie Business Account is closed for any reason (whether by the Account Holder or Mollie) prior to the crediting of Cashback, any pending Cashback entitlement is immediately forfeited.

7. Amendments and termination

7.1 Mollie may amend, suspend, or terminate the Cashback Reward Program, a Reward Campaign, or these Terms at any time and in its sole discretion, without a notice period.

7.2 Continued participation in the Cashback Reward Program or a Reward Campaign after any amendment constitutes acceptance of the amended Terms.

8. Relationship with other terms or agreements

8.1 These Terms apply in addition to the Mollie Business Account Terms and the Mollie Card terms.

8.2 In the event of a conflict, these Terms prevail solely in relation to the Cashback Reward Program.

9. Liability

9.1 To the fullest extent permitted by applicable law, Mollie is not liable for indirect or consequential damages arising from participation in the Cashback Reward Program.

9.2 Nothing in these Terms limits liability that cannot be excluded under mandatory law.

10. Governing Law and Jurisdiction

10.1 These Terms are governed by and construed in accordance with the laws of the Netherlands.

10.2 Any disputes arising out of or in connection with these Terms or the Cashback Reward Program shall be submitted to the competent courts of the Netherlands, unless mandatory law provides otherwise.