MoneyZen’s General Terms and Conditions

By registrating as a user of www.moneyzen.eu portal you accept the following terms and conditions.

MoneyZen’s General Terms

1. DEFINITIONS

General Terms and Conditions – This document.

Portal Operator – An independent credit intermediary Moneyzen OÜ, registry code 12541882, address Rävala pst 5, Tallinn 10143, Estonia, e-mail info@moneyzen.eu.

Portal - An internet based e-service environment located at www.moneyzen.eu and managed by the administrator of the Portal through which users can borrow or lend with other users.

User – A natural person or a legal entity registered and accepted by the Portal and who uses Portal to conclude loan contracts under the Terms and Conditions of the Portal.

Borrower – A citizen or a permanent resident of Estonia or any other European Union country who is at least 18 years of age to whom a valid identity document (passport or identity card) has been issued and who has submitted a declaration of intent to borrow a loan through the Portal.

Investor – A citizen or a permanent resident or a person to whom a valid identity document (passport or identity card) has been issued by the European Union member state, who is at least 18 years of age, or a legal entity established in the respective register in the European Union member state, who has accepted investment terms and conditions, provided that the credit provision is not that user’s main business or professional activity.

Party or Parties – Portal Operator, User, Borrower or Investor.

Virtual Account – User account in the Portal that contains User’s data and is administrated by Portal Operator.

Investment Account - A portal user created account through which an investor administers the conditions of the loan offers made to the portal users.

Investment Criteria – Agreement on the Investment terms confirmed by the Investor.

Loan Application – An application submitted in the Portal to conclude a Loan contract.

Loan Conditions – Concluded Loan Contract’s conditions, including Loan repayment schedule.

Loan Contract – Includes General Terms and Conditions, Loan Conditions and Loan Application.

Claim – Investing User's claim against the Borrower deriving from the Loan Contract.

Sales Contract – An agreement to sell the Claim partially or entirely to another Investor.

Credit Score - A numberical expression attributed to Borrower by the Portal that is based on User’s credit report and represents Borrower's previous credit history and capability to service debt.

ZenInvest – An application of the Portal, that on behalf of Investor automatically submits Loan Offers to Borrowers in accordance with set Investment Criteria. To use ZenInvest Investor needs to set and approve the automatic offering criteria. To use the ZenInvest, sufficient funds need to be deposited on Investor’s investment account. In order to use ZenInvest, the User has to fill a risk profile quiestionnaire, which is the basis for Portal to make suggestions for setting up ZenInvest criteria.

ZenFund – Fund established and administrated by Portal that is made up of Borrowers’ compulsory payments on occasion of concluding a Loan Contract. The amount of ZenFund is depicted in the Loan Offer and it is added to contract fee after concluding the Loan Contract. The Portal is authorized to use ZenFund’s capital to compensate Investors’ losses in the event of loan defaults.

2. TERMS OF USE

2.1. When registering the User confirms that he or she has read, understood and accepted Portal’s General Terms and Conditions that apply to all legal affairs and affirms that has provided solely accurate, truthful and complete data.

2.2. When registering a User or legal entity’s representative chooses a unique username and password in order to enter the Portal. The User is obliged to inform the Portal Operator If the representative of the legal entity has been changed.

2.3. While registering a user, the Portal Operator has a duty and a right to request for confirmation of identification verification. The User has no right to use Portal services unless the identity is verified.

2.4. When registration is complteled, each User shall be provided with a Virtual Account that shows User’s available funds in the Portal. Investors may transfer money from Virtual Account to their Portfolio Accounts or withdraw money from the Portal. Borrowers may withdraw money and make payments to the Portal. The User is obliged to use appropriate reference number when transferring money to the Portal.

2.5. The User authorizes the Portal Operator to use User’s funds only in compliance with the Loan Contract or Investment Criteria. Funds transferred by Investor to the Portal is the asset obtained by the Portal for performance of the given mandate on behalf of Investor and, therefore, does not belong to the Portal’s assets.

2.6. The Portal Operator has the right to debit User’s virtual account or increase User’s obligations pursuant to the price list and the Loan Contract.

2.7. By accepting Terms and Conditions the User grants to the Portal the right to withdraw fees stipulated in price list and Loan Contracts from User’s Virtual Account.

2.8. The User is obliged to use Portal in good faith lawfully and ethically in accordance with the purpose of the Portal and not to violate the law or to disclose Loan Contract or its conditions to third parties and not to modify files exported from the Portal, including Loan Contract conditions and repayment schedule, etc.

2.9. The User is obliged and viable to declare the income earned from using the Portal as the income shall be taxed pursuant to the legislation of the country of User’s residence.

2.10. The Portal, its content and data, including the Loan Contract, are meant for User’s personal use; the User does not have the right to save, copy, disclose, modify, transfer, forward, publish the content of the Portal for other purposes.

2.11. The User is obliged to immediately inform the Portal Operator about the change or loss of personal data relevant to User identification (passport, ID card, Username, password etc.) or inform about of the fact that the third parties have gained possession of personal data. The User is liable for any damage caused by loss of personal data or possesion of it by the third parties.

2.12. The Investor confirms that he or she has lawfully acquired the funds transferred to the Portal and he or she uses the Portal to earn return on capital.

2.13. The Borrower confirms that is he or she uses the Portal to conclude Loan Contracts and he or she is aware of one’s income and obligations and has considered to be capable to fulfil obligations arising from the Loan Contract in time. The applicant affirms that he or she has provided to the Portal solely accurate, truthful and complete data.

2.14. If due to some technical issue the User has used more or less funds than available on the Virtual Account, then the Portal Operator is entitled to debit or credit User's Virtual Account to restore the correct account balance.

3. ASSIGNMENT OF CLAIMS

3.1. The Portal enables Investors to alienate Claims deriving from the Loan Contract to other Users via Portal.

3.2. The Portal enables Investors to acquire Claims deriving from the Loan Contract from other Users via Portal.

3.3. Investor determines the conditions of alienating the claims deriving form the Loan Contract by confirming the offer of sale in the Portal.

3.4. In the offer of sale Investor determines the selling price, the selling period, and his consent to sell the Claim deriving from the Loan Contract partially or entirely accepting the selling fees.

3.5. The User has the right to alienate Claims deriving from the Loan Contract either at a discount or a premium. The Portal Operator can set discount and premium ceiling.

3.6. After the offer of sale of Claims has been confirmed by Investor, the Portal allows other Investors to acquire the Claim at the conditions imposed.

3.7. The Investor can acquire Claims deriving from the Loan Contract via the Portal by accepting the offer of sale to the extent of the unreserved amount on his or her investment account.

3.8. The selling price of a Claim is equal to the sum of investment balance, discount or premium and the sales fee.

3.9. The Portal does not disclose Borrower's personal data in the offer of sales of Claims deriving from the Loan Contract.

3.10. According to confirmed offer of sale Users conclude a Sales Contract to alienate Claims deriving from the Loan Contract through the Portal.

3.11. The Sales Contract shall be deemed as concluded after being confirmed by all Users involved in the sale. In the event of that, the Selling price shall be debited from the buyer's virtual account and credited to the seller's virtual account in the Portal and the sold investment shall be partially or entirely transferred from seller's to buyer's investment portfolio as according to the Sales Contract.

3.12. Upon the sale of a Claim, the rights of the seller to the interest receivable and overdue charges receivable shall be transferred to the buyer. Following the alienation of a Claim, all the payments the Borrower makes which belong to investors shall be transferred to the Buyer's Virtual Account in the extent of the assigned Claim.

3.12.1. In case of a partially alienated Claim, the rights of the seller to principle, interest and overdue charges receivable shall be transferred to the buyer proportionally to the acquired amount of investment.

3.13. The Portal Operator and Users that are parties to the Sales Contract shall not inform the Borrower about the alienation of the Claim and the Operator shall continue to service the Loan.

3.14. The User irrevocably authorises the Portal Operator to conclude contracts for amending the Loan Contract, which is the basis for Claim, in accordance with local legislation, directives regulating consumer credit, responsible lending guidelines and market practices (incl. selling the Claim to debt collection company, reduce the Claim in the amount of debt collection expenses).

3.15. In case of payment defaults Investor authorises the Portal Operator to conclude contracts to assign or sell Claim to third party or pre-terminate the Loan Contract taking into consideration the Borrower's financial situation, Claims deriving from the Loan Contract, debt management costs and other circumstances.

4. TERMINATION OF USER STATUS

4.1. The User may terminate User status only if the liabilities to the Portal Operator and other Users derived from the Loan Contracts are fulfilled and there are no further pending Loan Offers and User’s Virtual Account balance is zero.

4.2. To terminate the User’s status the User must send an email to info@moneyzen.eu with the corresponding request or use the Portal solution.

4.3. The Portal Operator has the right to refuse to grant User status without obligation to explain the refusal.

4.4. The Portal Operator has the right to limit or terminate the Portal User’s using rights without obligation to explain the decision with the two-month-advance notice. The refusal does not end the rights and/or obligations derived from Loan Contract or Investment Criteria.

4.5. The confirmation notice of user status termination must be sent to the User by e-mail.

5. PERSONAL DATA

5.1. The user is obliged to provide the Portal Operator with accurate, truthful and complete data (including documents, scanned images). Submitting false or inaccurate data is considered a breach of Loan Contract or Investment Criteria and User is liable for the damage and loss arising from transactions based on inaccurate data.

5.2. The User is obliged to inform the Portal Operator about the change of personal data during seven days by e-mail or via the Portal.

5.3. By signing the Terms and Conditions the User authorizes the Portal Operator to process his or her personal data according to the purposes and provisions of General Terms and Conditions and legislative acts. Natural persons have the right to withdraw their approval for processing personal data at any time, demand to stop the processing of their data and delete collected or seal the data.

5.4. The Portal Operator is obliged to maintain the secrecy of User provided data.

5.5. The Portal Operator is not liable for the validity of data and confirmations provided by Portal Users, servicing the obligations arising from Loan Contracts and ensuring the proxy right of the legal entity’s representatives.

5.6. The portal Users conclude Loan Contracts on their own behalf and take the full responsibility by being party of the Loan Contract. The Users use Portal’s Loan Contract forms at their own risk and responsibility.

5.7. The Portal Operator has the right to disclose User’s personal data to debt colleting companies and credit registries for the purpose of providing additional information relevant for making credit decisions. Investor authorizes Portal Operator on the behalf of and in the name of Investor to register Borrower’s payment defaults in various registries at the Portal Operator’s own discretion and to conclude mandate contracts with the companies maintaining the registry of default payments.

5.8. The Portal Operator is entitled to disclose User’s personal data to Portal Operator’s partners who have confirmed the data confidentiality.

5.9. The Portal Operator is entitled to disclose User’s personal data to Loan Contract Parties.

5.10. The Portal Operator is entitled to use the User’s data for informational and advertizing purposes, including generalizing Loan Contract’s data for statistical and public presentation purposes.

5.11. The Borrower accepts to disclose the following data provided to the Portal and Investors: Borrower’s personal identity code as well as beginning and ending date and the sum of defaulted payments to the credit worthiness registries for credit decisions purposes.

  1. The right to disclose Borrower’s data to Krediidiinfo AS begins in case of active payments defaults.
  2. Read about AS Krediidiinfo's borrower data handling policy and span on the webpage www.krediidiinfo.ee.

5.12. Borrowers can review their credit reports in AS Krediidiinfo online database on www.krediidiinfo.ee.

5.13. The Borrower has the right to demand correcting or deleting or ending the processing of his or her personal data pursuant with Data Protection Law.

5.14. By accepting the General Terms and Conditions the Borrower grants Portal Operator access to Borrower's personal data, except for delicate personal data, with the purpose to check the data in accordance with the personal identification documents database.

6. LOAN CONTRACT

6.1. Loan Contract's currency is Euro. Loans are granted and repaid in Euro.

6.2. The Portal Operator submits Loan Offers to Loan Applications according to General Terms and Conditions and Investment Criteria confirmed by Investor.

6.3. The Borrower submits Loan Application and bank statement for each bank account for the last six months to certify the information presented in Loan Application.

6.4. The Borrower accepts General Terms and Conditions and Loan Conditions by confirming the Loan Offer.

6.5. The Loan Contract is concluded by terms accepted by the Borrower.

6.6. the Loan Contract contains the following data:

Borrower's name and personal identity code, home address, Loan amount and interest rate, annual percentage rate of the credit, total Loan fees, total repayment sum, period, repayment schedule, Portal price list, Loan Conditions confirmation date and time.

6.7. The Loan Contract is deemed concluded when the Borrower accepts General Terms and Conditions and Loan Conditions.

6.8. After concluding a Loan Contract the Portal Operator transfers the Loan amount from Investor's Portfolio Account to the Borrower's Virtual Account in the Portal. With this transfer Investor’s obligations derived from Loan Contract are considered to be fulfilled and the Loan amount transferred to the Borrower.

6.9. The Borrower has the right to withdraw the Loan amount from Virtual Account to the personal bank account to use it according to declared Loan purpose.

6.10. The Borrower is obliged to use Loan according to Loan purpose and not use it for illegal transactions or operations, icluding fraud. If the Loan purpose is to refinance other debt then the Borrower is obliged to send a digitally signed bank statement verifying the refinancing transactions to Portal Operator’s e-mail info@moneyzen.eu in three days after concluding the Loan Contract. In case the user violates ascribed obligations, the Portal Operator is entitled to terminate the Loan Contract before term and charge from User fees according to Portal price list.

6.11. The Portal Operator is entitled to assign claims derived from Loan Contract to third party according to Loan Contract or Investment Criteria.

6.12. The Portal Operator is entitled to demand additional guarantees in favour of the Operator to secure the fulfillment of obligations derived from the Loan Contract.

6.13. According to Loan Contract the Borrower has the right to withdraw from the Contract within fourteen days after concluding agreement by sending respective notice to e-mail address info@moneyzen.eu or using the respective solution in the Portal.

6.14. In case of withdrawal from the Loan Contract the Borrower is obliged to repay the Loan amount with interest accrued for the period since concluding the contract till repayment during thirty days from submitting the withdrawal notice to the Portal.

6.15. If the Borrower fails to repay the Loan and interest in full according to withdrawal conditions on time, then the submitted wihtdrawal notice shall be considered void and the Loan is to be repaid according to the conditions and repayment schedule stipulated in the Loan Contract.

7. LOAN REPAYMENT

7.1. The Borrower is obliged to make Loan installments according to the Loan Contract.

7.2. The Borrower shall ensure that the Virtual Account holds a respective amount on the due dates.

7.3. The Portal shall debit the Virtual Account on the repayment dates of the loan amount by the amounts fixed in the repayment schedule and distribute money to the Virtual Accounts of the Investors, who finance the Loan Contract.

7.4. In case the Virtual Account does not hold the funds needed for making the payment on the respective term, he debited ampount shall be distributed between Investors that have financed the Loan proportionally to the amount of their claims.

8. INTEREST

8.1. The interest rate is fixed in the Loan Contract. The interest shall be calculated on the outstanding Loan Amount at the nterest rate provided i nthe Loan Contract.

8.2. While calculating Interest, the Portal shall proceed from a 360-day year.

8.3. Default interest shall start being calculated on the outstanding amount from the day following the payment day on the basis of the rate provided in the Loan Contract.

9. THE VALIDITY OF THE LOAN CONTRACT

9.1. If the borrower has complied with all obligations under the Loan Contract, the Loan Contract shall be considered terminated (fulfilled).

9.2. Premature termination of the Loan Contract does not release Borrower from responsibilities arising from the Loan Contract.

10. PREMATURE TERMINATION OF THE LOAN CONTRACT

10.1. The Borrower has the right to repay the Loan Amount prematurely according to the Loan Contract conditions submitting a request for early repayment in the Portal.

10.2. In order to terminate the Loan Contract prematurely, the Borrower has to ensure that the Virtual Account holds sufficient funds to repay the loan principals, interests, default intrests and other applicable fees no later than by the due date of pre-termination event.

10.3. In case of early repayment declaration of intent and agreement to the terms and conditions of the loan termination the Borrower fails to comply with the conditions for early repayment, the Loan Contracr shall not be terminated.

11. CONDUCT IN CASE OF LOAN DEFAULTS

11.1. By signing the General Terms and Conditions Investor provides to the Portal Operator an irrevocable and termless right to process users’ accounts payable.

11.2. The Portal Operator is entitled to send the Borrower reminding letters for charge reminding about late payments and to make other debt recovery operations.

11.2.1. The Portal Operator is entitled to receive compensation for debt collection fees and charges under the circumstances described in law and according to the Portal price list.

11.3. The Portal Operator is entitled to receive compensation for debt collection fees and charges under the circumstances described in law and according to the Portal price list.

11.4. The Borrower is obliged to compensate the costs and expenses for actions that the Portal Operator undertakes to recover debt from the Borrower according to Loan Contract and Portal price list, including expenses for legal aid, debt collectors, lawsuits in courts, etc.

11.5. In the event of late payments, the costs related to the collection of debt shall be considered to have been paid in the first order, thereupon the outstanding Loan Amount, thereupon the outstanding Interest, thereupon the outstanding loan management fee, and thereupon the default interest.

11.6. In case the Borrower is in partial or full deferral regarding three (3) consecutive payments of the Loan Amount according to the Loan repayment schedule, all claims derived from the Loan Contract become enforceable (pre-termination) and are assigned to the Portal Operator with the right to reassign the claims to third parties. The purpose of assigning the claims is the collection of debt, upon which the collected money shall be distributed to Investors’ Virtual Account.

11.7. The Portal Operator shall not be liable for the non-performance of obligations by users. Investor agrees and confirms that he or she understands that lending money via MoneyZen poses the risk of losing the invested capital partially or entirely if Borrower fails to fulfil obligations arising from the Loan Contract.

12. AMENDMENT OF TERMS

12.1. The Portal Operator reserves the right to change or amend the terms and conditions at any time. Users shall be notified by e-mail or via the Portal.

12.2. Amendment of General Terms and Conditions enter into the force after being approved by User or one month after publishing the notice in the Portal.

12.3. The user may terminate User Agreement if one does not agree to amendments of General Terms and Conditions.

13. FINAL PROVISIONS

13.1. The User has the right tol submit complaints according to procedure of Resolving Complaints.

13.2. Parties shall resolve disputes that are not regulated by General Terms and Conditions or other contracts governing by the legislation of the Republic of Estonia.

13.3. Any disputes shall be settled by an agreement of the Parties. Failing agreement, the dispute shall be resolved according to the legislation of the Republic of Estonia and prior agreements between parties.

13.4. The contract has been drawn up Estonian. The English text is a translation of the content of the contract and shall be interpreted according to the Estonian text.

Terms and Conditions valid as of 02.04.2018

Moneyzen OÜ, company number 12541882
Address: Tartu rd. 84a-M302, Tallinn, Estonia
Phone: + 372 58 855 553



Privacy Conditions

Moneyzen OÜ complies with national and European Union legislative acts and best practice on handling and preserving customers’ personal data. All the data provided to the Portal by customers and collected by the Portal for Loan Application processing and Loan decisions purposes shall be confidential and be available to Moneyzen OÜ employees whose duties require access to that information. Moneyzen OÜ does not disclose user data to any third party, except under the circumstances provided by Contract or law.

Moneyzen OÜ Users database is not accessible to the third parties. The access to the database is available only to Moneyzen OÜ employees for the work duties porposes and Moneyzen OÜ Users according to General Terms and Conditions.



Cookie Policy

MoneyZen OÜ uses cookies on its website only with the purpose to ensure simple and convenient user experience. Cookies are required to identify a person visiting the website to store homepage user preferences and to gather information on how the visitor uses the website and how he or she moves there. Cookies are also used to improve the website and to measure the effectiveness of campaigns, as well as to gather information on the behavior users on the website.

All the collected information is anonymous and not linked to specific User. To check and change your web browser preferences about using the cookies, please refer to your web browser’s privacy settings or user manual.



Customer complaint procedure

The aim of the customer complaints procedure is to inform users about the form and content, and what channels of communication User should use to file a complaint against Moneyzen OÜ (hereinafter MoneyZen) action or unwillingness to take action, when and how MoneyZen resolves complaints filed by users and to which supervisory board, pre-trial bodies and court the user can file an appeal for an unbiased assessment of MoneyZen's action or unwillingness to take action.

If you have any questions do not hesitate to contact us by phone: +372 5885 5553; e-mail: info@moneyzen.eu ; or by registry address: Rävala pst 5, Tallinn 10143, Estonia.

1. PROCEDURE FOR FILING A COMPLAINT AND COMPLAINT REQUIREMENTS

1.1. The user can file a complaint against MoneyZen in a chosen format and communication channel. MoneyZen contact details are as follows:
telephone: + 372 5885 5553;
e-mail: info@moneyzen.eu;
postal address: Rävala pst 5, Tallinn 10143, Estonia.
1.2. The user must present the following data for filing a complaint:
the complainant's personal and contact information, i.e. the first and last name, personal identification number, or in the absence thereof date of birth and place of birth, home address, telephone number and (if available) e-mail address;
the date of filing the complaint;
the facts underlying the complaint, including the reference to the agreement, under or in connection with a complaint filed;
grounds for complaint
statutory demand or petition to MoneyZen. In addition, the customer is required to submit an appeal with the documents on which the complaint relies, if they are not freely available to MoneyZen.

2. PROCESSING OF A COMPLAINT

2.1. After receiving a complaint the user shall be notified about acceptance of the complaint and the time limits for processing the complaint or about refusal to accept and its justification. A written notice shall be sent to the user about denied complaint with an explanation. If the complaint was filed in written or in a format which can be reproduced in writing, the User shall be notified in written or in a format which can be reproduced in writing about expected time for resolving the complaint.
2.2. Oral complaints are resolved immediately if possible orally. If an oral complaint can not immediately meet the needs verbally, because it needs a more thorough analysis of the facts or a thorough identification, MoneyZen has the right to require the submission of a complaint in writing or in a format which can be reproduced in writing.
2.3. If user's complaint does not meet the requirements set out in section 1.2 of this procedure, or if resolving the complaint correctly requires analysing additional data or documents, Moneyzen has the right to demand from the user to submit additional information or documents.
2.4. MoneyZen resolves the complaint within 15 days of its receipt. If the complaint can not be resolved within that time, MoneyZen informs the user of the reasons for that and the new deadline for responding. MoneyZen will notify user in written or in a format which can be reproduced in writing, if the complaint was filed in written or in a format which can be reproduced in writing.
2.5. MoneyZen will respond to a complaint in written or in a format which can be reproduced in writing, excl if a complaint was filed orally and the user agrees to complaint being resolved orally. If the complaint is dismissed in part or in full, MoneyZen submit its written reply stating the reasons.
2.6. MoneyZen shall immediately restore user’s rights or offer an another solution if the complaint has been satisfied.

3. SUPERVISORY, PRETRIAL BODIES, COURT

If MoneyZen and the user cannot settle their dissessions and reach to a compromise, then the user has the right to file an appeal for an additional unbiased assessment or settlement to a supervisory board or pretrial body (the following list is not exhaustive). Also, the customer has the right to file a claim in court against MoneyZen.

Estonian Financial Supervision Authority: postal address: Sakala 4; 15030 Tallinn, Estonia; telephone: +372 668 0500; e-mail: info@fi.ee; webpage: www.fi.ee/?lang=en.
Consumer Protection Board of Estonia: postal address: Rahukohtu 2, 10130 Tallinn Estonia; telephone: +372 620 1700; e-mail: info@tarbijakaitseamet.ee; webpage: www.tarbijakaitseamet.ee/en. A consumer can submit a complaint to Consumer Disputes Committee with the request that his/her rights and interests were taken in account (www.tarbijakaitseamet.ee/en/consumer/rights-and-obligations-consumer).
Estonian Data Protection Inspectorate: postal address: Väike-Ameerika 19, 10129 Tallinn Estonia; telephone: +372 627 4135; e-mail: info@aki.ee; webpage: www.aki.ee/en
Court (according to jurisdiction): additional information: www.kohus.ee/en.

Confirmations of a person, whose person is being identified by the technological means

According to the Money Laundering and Terrorist Financing Prevention Act, MoneyZen has a duty to identify users’ personality applying the regulation of the minister of finance about using technological means for person identification.

Confirmations of Estonian resident user

As Estonian resident and /or legal entity representative I hereby certify that

  1. by identifying and controlling the identity of the person, incl. using the technological tools, the obligations and rights specified in § 15 (1) of the Money Laundering and Terrorist Financing Prevention Act apply to me and MoneyZen;
  2. I agree with the processing of personal data and their storage during procedures implementation;
  3. I perform MoneyZen user actions personally;
  4. the data submited in MoneyZen application, questionnaire survey and interview is correct and complete, I am aware of the consequences of submission a false, misleading or incomplete information, that accompany business relationship creation;
  5. I Comply with the conditions established by MoneyZen to create a transaction and business relationship;
  6. the identification of user’s person does not oblige MoneyZen to enter into business relationship or render the service;
  7. identification of a person shall be considered failed in case of;
    1. I deliberately submitted the data, which
      • does not match with the data entered in the official database
      • does not match with the data, submitted in the course of other procedures
    2. the session expires in the course of identification, questionnaire interview or interview, or the synchronized audio and video streaming information does not allow digital identification and digital signing
    3. records of personal identification performed using technological tools do not contain synchronized audio and image which are clear, of high quality, recorded and reproducible in a way that is sufficient for the unambiguous and reliable understanding of the transmitted data
    4. I have not identified myself when entering the MoneyZen environment, have not confirmed that I had read and agree to the terms and conditions of person identification by the technological means
    5. in the course of identification, I refuse to comply with the MoneyZen representative’s instructions in order to record the person's face and document pursuant to the requirements
    6. in the course of identification, I use an unauthorized assistance from another person
    7. when MoneyZen detects a fact indicating money laundering or terrorist financing suspicion

Confirmations of e-resident user

As Estonian e-resident and/or legal entity representative I hereby certify that

  1. by identifying and controlling the identity of the person, incl. using the technological tools, the obligations and rights specified in § 15 (1) of the Money Laundering and Terrorist Financing Prevention Act apply to me and MoneyZen;
  2. I agree with the processing of personal data and their storage during procedures implementation;
  3. I perform MoneyZen user actions personally;
  4. the data submited in MoneyZen application, questionnaire survey and interview is correct and complete, I am aware of the consequences of submission a false, misleading or incomplete information, that accompany business relationship creation;
  5. I Comply with the conditions established by MoneyZen to create a transaction and business relationship;
  6. I agree with applying Estonian legislation affirming it with the digital signature;
  7. in front of the camera I show to MoneyZen's representative a valid personal data page of a foreign travel document;
  8. the identification of user's person does not oblige MoneyZen to enter into business relationship or render the service;
  9. identification of a person shall be considered failed in case of:
    1. I deliberately submitted the data, which
      • does not match with the data entered in the official database
      • does not match with the data, submitted in the course of other procedures
    2. the session expires in the course of identification, questionnaire interview or interview, or the synchronized audio and video streaming information does not allow digital identification and digital signing
    3. records of personal identification performed using technological tools do not contain synchronized audio and image which are clear, of high quality, recorded and reproducible in a way that is sufficient for the unambiguous and reliable understanding of the transmitted data
    4. I have not identified myself when entering the MoneyZen environment, have not confirmed that I had read and agree to the terms and conditions of person identification by the technological means
    5. in the course of identification, I refuse to comply with the MoneyZen representative's instructions in order to record the person's face and document pursuant to the requirements
    6. in the course of identification, I use an unauthorized assistance from another person
    7. when MoneyZen detects a fact indicating money laundering or terrorist financing suspicion

Borrow