Regulations of

General provisions

Regulations have been issued by Payholding Sp. z o.o. with the registered office in Wrocław, 53-413 ul Gwiaździsta 66, Lok. 22 floor, entered in the register of Entrepreneurs of the National Court Register kept by the District Court for Wrocław-Fabryczna, VI Economic Department under KRS number 0000472748, REGON: 022207267 NIP: 894-30-47-640, share capital 700 000 PLN, which manages and in the content of the Regulations is referred to as Operator.


User – natural or legal person or organizational unit without legal personality, who through the Internet, puts an offer to buy or sell currency at the Currency Exchange, available on

Currency Exchange stock – combining opposite orders in the currency pairs, e.g .:  EUR / PLN, submitted by Members;

Table of Offers – identical to the definition of the Currency Exchange;

Opposite order – combining the currency pair from two Users orders e.g .: EUR/PLN; – Internet service that allows users to use the tools / applications with which it is possible to match pairs of opposite orders of currencies, also known as the Currency Exchange stock;

Registration – shall mean Creatin the Account;

Commission – the amount collected by the Operator for the agency service in combining currency pairs from two opposite Offers / Orders, which the User instructs to the Operator;

Regulations – these Regulations, available for each user at the Internet address and established in accordance with the Act on electronic services; exchange rate – the exchange rate updated based on the FOREX market or the best available rate suggested by the Members;

User exchange rate – currency exchange rate, which is determined by the User when placing exchange orders;

The offer – means the Order;

Order – submission of offers of sale or purchase of currency by the User with the Operator on the Currency Exchange. The offer is a proposal of the User, under the conditions set by him or her, specifying at what price the User wants to sell the currency and to determine the exchange rate, taking into account the limitations of the law and these Regulations;

Act on electronic services – the Act of 18 July 2002 on electronic services (Journal of Laws No. 144 item as amended);

Act on Personal Data Protection – Act of 29th August 1997. on the protection of personal data (Journal of Laws (02.101.926, uniform text, as amended);

Foreign Exchange Law – the Act of 27th July 2002. Foreign Exchange Law (Journal Of Laws of 2002 No. 141 item 1178 as amended);

The Act on Prevention of Money Laundering – The Act of 16th November 2000. on prevention of money laundering and financing of terrorism (Journal of Laws 03.153.1505 uniform text, as amended;

Transfer – transfer of funds to the Account specified by the Operator in the relevant currency, while submitting orders by the user or the transfer of funds effected to the designated account user after the currency exchange;

Account – a bank account maintained by the Operator, conducted for the user in accordance with applicable provisions of the Banking Law;

Compliance of User data – indicated in the transfer made using a bank account, and the data the User has provided the Operator with during Registration. At the same time, the transfer title and the login of the user is subject to a verification;

Working days – days of the week excluding Saturdays and public holidays;

Availability of – the service is available on the Internet seven days a week, 24 hours a day;

Technical requirements – technical requirements necessary for the user to use the Service freely: a computer with access to the Internet, a web browser that supports encrypted SSL connections, cookies, and Java Scripts, and a mobile phone, as well as an e-mail address, in order to obtain confirmation of the transaction. A PDF file reading programme is also necessary, which should be provided by the User themselves.

Chapter I

General regulations of the

  1. The Regulations have been developed in accordance with the Act on electronic services.
  2. The contract for the provision of electronic services is considered to be concluded with the Operator after successful completion of the registration process.
  3. The operator provides the Service which consists in matching pairs of opposinte orders of the following currencies: PLN, EUR, CHF, USD, GBP, also called the Currency Exchange stock.
  4. Each of the users, having entered into a contract with the Operator shall have the ability to issue their own currency offers they want to exchange, eg .: EUR at own rate or at the best available rate, or the average FOREX exchange rate applicable at that time in the world market. The task of the operator is to match opposite Offers and combining them in a currency pair.
  5. The Service provides:
    a. User registration and identification,
    b. the possibility to place Offers in the Exchange Currency stock,
    c. Offer matching and currency exchange,
    d. an invoice confirming the purchase or sale of currency.
  1. The operator provides services under the terms specified in the Regulations. The user has access to the Rules and Resource Service
  2. The User voluntarily enters into a contract regarding currency exchange with the use of Each time this is done, based on the declarations of intent made by the User and the positive identification of the User.

Chapter II

User Registration and User identification

  1. A contract is entered into on the ‘Registration’ Tab and comes into effect upon the following conditions:
    a) fill in all fields in the form on the website,
    b) data must be provided in conformity with the actual circumstances
    c) the user then confirms that they are familiar with the Regulations and accept all of its provisions.
    d) approval of the Registration shall be effected by clicking on the ‘Create Account’ button
  1. User Registration shall include:
    a) in the case of a natural person: name, surname, address (postal code, city/town, street, house number, personal identity (PESEL)) mobile phone number;
    b) in the case of a legal person, an organizational unit without legal personality, or a natural person running a business: the business name and the type of business, address of the registered office, NIP and REGON numbers, data of a representative such as their name, mobile phone number;
    c) providing the email address which the user will use to log in to and to receive messages from the Operator.
  2. Effecting the transfer to the bank account of the Operator, the amount of currency that is exchanged.
  1. Positive verification of the User by the Operator.
  2. User’s ordering the Operator to perform the service of currency exchange on the New Order Exchange tab.
  3. It is forbidden to set user names of an offensive character, contrary to morality or principles of social coexistence, or a name which is subject to legal protection, in particular the name of the user having the form of the ‘WWW’ address, or a given name, nickname or the surname of a well-known person.
  4. Providing access password, which has to consist of a minimum of 8 characters, it also has to contain uppercase and lowercase letters (a-z or A-Z), special characters (? _! @ # $) and numbers (0-9). Passwords should not be built with names or common words. You acknowledge that the Operator will not ask you to provide your password via e-mail.
  1. Providing bank account number, from which the user will transfer funds with the aim of currency exchange.
    All accounts from which the User will transfer money to, should be entered in the ‘My Data and Accounts’ tab.
  2. The e-mail address, provided by the User will be used as a login to the service.
  3. After the correct Registration, the User will be informed about this fact by e-mail to the e-mail address indicated in the Registration form.
  4. The Operator reserves the right to verify users with the use of methods other than those specified above.
  5. The Operator identifies the user confirming earlier compliance of the data provided by the User in the registration form with the data from transfer.

Chapter III

Currency exchange through

  1. A user on the ‘Payment’ tab receives information on which account the payment should be made, full address and the transfer title, depending on the chosen currency and the bank, which will perform a deposit to the account of the Operator.
  2. The operator can return the funds to the User’s account in the case of existing discrepancies between the data following from the Registration Form, and the data of the transfer.
  3. If the user verification is successful the funds automatically appear on the ‘My Account’ tab, in the position of current funds.
  4. The User, in the ‘New Order’ panel, using the mouse, indicates the currency which is set by default according to the Current Funds in the wallet e.g.: PLN. The user can click and select the currency, which he wants to exchange e.g.: EUR, indicates the selected type of the exchange rate, e.g.:
    • own rate
    • best available exchange rate
    and accepts adding the offer to the Currency Exchange stock, by clicking the ‘Accept’ button.
  5. Clicking the ‘Accept’ button means to give offers on Exchange Currency stock and giving disposal to the Operator to match offers.
  6. If in the Table of Offers there is an opposite offer to that of the User, then an automatic match of two opposing orders is done, and the payment in the currency of the transaction takes place after disposal of the User Payment Panel.
  7. In the case of submitting the User’s offer of greater amount, than the ones currently offered for Currency Exchange stock, matching offers runs in parts.
  8. The User agrees on matching partial Offers, which would cover their offer in full.
  9. Each of the partial Offers will be matched at the exchange rate of the Operator or the rate of another User, the exchange rate is most beneficial at the time of the exchange.
  10. Submission of offer by the User is active until the opposite offer is matched in full.


  1. In the case of a partial matching, the User cannot make cancel a previously matched Offer, but they may cancel the remaining part of the Offer, which was not matched, by clicking the Cancel button on the ‘Transaction History’ tab.
  2. To cancel the offer, the user can cancel it in the Transaction History / details tab without incurring fees associated with offers matching. The only fee that is charged is for a payment to the account specified by the User.
  3. During the period of Offers activity, rates displayed by the Operator are dynamic.

Chapter IV

Evidence of purchase and sale

  1. The operator is obliged to provide the User with proof of execution of the service associated with matching offers.
  2. In any event the evidence of transactions will be available for the User in an electronic form to be downloaded from the ‘My Data and Accounts’ tab.
  3. The VAT invoice will be issued according to the data provided during the User Registration.
  4. The User declares to give their consent for downloading and printing the proofs of execution of the service with every transaction.
  5. A copy of the printed invoices should be kept and presented to the tax authority or tax inspection authority whenever necessary.
  6. The operator can issue and send invoices in respect of its services in electronic form on the basis of the Regulation of the Minister of Finance of 17 December 2010. (Journal of Laws 2010r., no. 249, item 1661) hereinafter referred to as the Regulation.
  7. The operator guarantees the authenticity of origin and integrity of the contents of issued and sent VAT invoices.
  8. Invoice, will be available for the user to be printed, by logging in to the ‘My Data and Accounts’ tab. A file available in this form is not an electronic invoice within the meaning of the Regulation of the Minister of Finance dated 14 July 2005 on issuance and sending invoices in an electronic form.

Chapter V

Principles concerning the fees

  1. Registration and using the savings calculator is a service provided to the user free of charge.
  2. For each subsequent adjustment the Operator charges a commission due to brokerage in matching opposite Member Offers, which is 0.2% of the value of the matched sum, which the User adds to Currency Exchange Stock.
  3. Commission for brokerage in the matching process is collected from each User individually.
  4. The commission is charged each time after a successful match of Offers and it is deducted from the amount to be paid in a currency that remained after matching the Offers.
  5. The commission is not charged by the Operator in the case of Offer Cancellation by the User.
  6. In the case of Cancellation of the Offer, the only cost that may occur is the cost of transfer for the payment of funds to the account of another bank in accordance with the disposition of the User.
  7. If the commission due to matching the Orders is smaller than the smallest currency unit e.g.: 0,004 PLN, then each time it is rounded to PLN 0.01 (1 grosz), 0.01 EUR (1 euro cent), $ 0.01 (1 cent), 0.01 GBP (0.01 pence), 0.01 RUB (1 kopeyka) and CHF 0.01 (1 centime) .
  8. The amount that the User instructs to exchange can not be lower than 1 PLN, EUR 1, 1 USD, 1 GB, 1 RUB, 1 CHF.
  9. The amount that the User instructs to withdraw can not be lower than: 1 PLN, EUR 1, $ 1, 1 GB, 1 RUB, 1 CHF, including the costs of the fee for the transfer, according to the table of fees from the given bank.
  10. The Operator commission will be increased by costs associated with the bank fee due to the transfer to the Operator’s account or due to the costs of withdrawals from the account of the Operator to the account specified by the user.
  11. The User has the right to dispose of their funds at any time after the transaction of matching.
  12. The User has the right to leave the funds on the account or to order the Operator to pay the Funds. Such an order must be confirmed with the sms CODE earlier.

Chapter VI


  1. All correspondence addressed to the Operator should be sent to the email address: or via regular mail to the following address: Payholding Sp. o.o., Gwiaździsta 66, Lok. 22 floor, 53-413 Wroclaw.
  2. The operator acts as the administrator of personal data under the provisions of the Act of 29th August 1997. Data protection, with respect to the User’s personal information, provided in connection with the performance of services specified herein.

Chapter VII

Privacy and security of personal data

  1. The user, filling in the Registration form voluntarily provides personal data which are processed by the Operator, for the purpose of service provision in accordance with these Regulations.
  2. Users’ personal data, have been reported as a collection to the General Inspector for Personal Data and entered into the national register of personal data.
  3. The User’s personal data may not be transferred by the Operator to other users and to third parties without the User’s permission.
  4. The User, in accordance with the Act of 29th August 1997. on the protection of personal data has the right to inspect data and the right to request correcting or removal.
  5. If the user has the knowledge that their personal data has changed, they are required to enter the correct data on the ‘My Data and Accounts’ tab. If this action is abandoned by the user, the operator is entitled to suspend the services covered by these regulations.
  6. In matters not governed by these Regulations about the protection of personal data, the Act of 29th August 1997 on protection of personal data and rules for the implementation of this Act shall apply.

Chapter VIII


  1. Any complaints must be submitted in writing to the following address: Payholding Sp. z o.o., Gwiaździsta 66, Lok. 22 floor, 53-413 Wroclaw, or via e-mail to the email address:
  2. Complaints are dealt with within 14 days from the date of their reception. The User will receive a reply to the complaints via email, they have provided in the Registration data.

Chapter IX

Final Regulations

  1. The Operator is not responsible for damage caused by the inability to use, due to lacks in technical requirements on the User’s side.
  2. The Operator is not responsible for damage that may result from the Disposition issued incorrectly by the user, including the Dispositions made by mistake.
  3. The Operator is not responsible for Dispositions on behalf of the User, but without his knowledge and consent by third parties who gained access to as a result of the ineffective protection of Password and Login by the User.
  4. The operator is not responsible for any loss, damage, claim or damage including loss of profit or loss of benefits incurred by User which took place due to using or inability to use
  5. The operator is not responsible for costs, damages, expenses or other liabilities in the event of insolvency, the decision to suspend the operations of the Bank or its bankruptcy. It includes any bank with which the operator works and is integrated.
  6. The operator is not responsible for the displayed exchange rates, since, due to the Internet connection they can be displayed with a delay, and therefore may be not accurate.
  7. The Operator is not responsible for any delays that result from the failure of the banking systems. All transactions, the performance whereof is delayed as a result of such failures will be executed the next working day after the removal of a failure by the bank.
  8. The operator is not liable for force majeure, eg .: possible natural disasters, strikes, wars or other unforeseen circumstances or random events.
  9. The operator is not responsible for failure to perform or improper performance of obligations following from the Regulations, unless the non-performance or improper performance of obligations is caused by circumstances over which the Operator had no control, despite due diligence (force majeure). In the case of force majeure, services will be suspended for a period equal to the period of force majeure.
  10. The operator is not responsible , in respect of the fact that the bank does not execute transfers at weekends.

Chapter X

Amendments to the Regulations, termination of the contract

  1. At any time the User can resign from the services provided under the Regulations without incurring any additional costs, with the exception of any bank charges for return transfers. In order to terminate the contract for the provision of electronic services, please send the termination in writing to the following address: Payholding Sp. z o.o., Gwiaździsta 66, Lok. 22 floor, 53-413 Wroclaw. The contract will be terminated within 3 working days from the date of the reception of written notice of termination of the contract.
  2. The currencies deposited by the User and the currencies exchanged as a result of Offer matching after a disposition of User’s withdrawal shall be reimbursed within up to 3 working days from the reception of the termination.
  3. In the case of clicking ‘Lock the account’, the only cost that may occur is the cost of transfer for the payment of funds to the account of another bank in accordance with the written User’s instruction.
  4. The operator reserves the right to make changes in the Regulations.
  5. Any amendments to the Regulations enter into force within 7 days from the date of their piblishing on the website Information about changes in the Regulations may be also sent to users by e-mail to the addresses specified during the registration.
  6. After the amendments to the Regulations are published on the Site, logging into is tantamount to acceptance of the amendments to the Regulations.
  7. Lack of acceptance of changes in Regulations by the user, is tantamount to termination of the contract with the Operator.
  8. In the event of finding by the Operator User’s actions illegal, against the aims and interests of or Users, against morality, in particular through the phishing information, entering false personal data, persistent lack of payments of liabilities under agreements, acting in violation of the personal rights of other users, and other actions which could cause detriment to the other Users or the operator, the Operator is entitled to block access to the User’s account, and return funds already deposited to the account they were sent from, decreased by costs of the return transfer.



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