This Agreement sets out the terms and conditions of the service on electronic currency sale/purchase provided by Norob BV, which operates as noropay.com. Using the services of the noropay.com means the full acceptance of this Agreement by the User. In case of disagreement with the Agreement, the User shall not perform any transactions. 

Electronic money accounts are not bank accounts. By accepting these Terms of Use you acknowledge that the Dutch Deposit Guarantee Scheme does not apply to your Noropay Account. In the unlikely event that we become insolvent, you may lose the electronic money held in your Noropay Account. However, the European Communities (Electronic Money) Regulations 2011 apply to us and these are designed to ensure the safety and liquidity of funds deposited in electronic money accounts.

1.Uploading Fund

1.1 You can upload funds by visiting the Website, logging into your Noropay account and following the relevant upload instructions. You may be presented with a number of different upload methods, depending on which Payment Methods you have added to your choose  and which Payment Methods are available in your country of residence. 

Upload methods are payment services provided by third party financial institutions (for example, the issuer of the payment card you use to upload funds or third party direct banking service providers) and are not part of our service. 

We do not guarantee the use of any particular upload method made available, and may make changes to or discontinue the acceptance of any particular upload method at any time without following the procedure , we shall not be responsible for the upload payment until the uploaded funds are received by us.


Uploads are subject to fees including currency conversion fees.

1.2 Uploads may be subject to upload limits due to security and legal requirements. These limits are set dynamically depending on your verification status and the  upload method you want to use. You should be aware that depending on your verification status your upload limits may be higher than your withdrawal limits. 

1.3 Every recipient of a payment you wish to send through us must be a registered user with a valid e-mail address with us, have a valid means that we can use for their identification. For most of our services that means of identification will be a valid e-mail address but other means of identification may be required for our other services.

1.4 If you are asked to provide details of the recipient’s e-mail address or other means of identification, where applicable, you must take great care to properly type the exact details of who you wish to send money to. We use those details as the unique identifier to determine the intended recipient of the payment which you instruct us to process. Other information you provide along with the recipient’s means of identification may be disregarded and we shall not be liable for any error you make when entering the recipient’s means of identification.

1.5 If the e-mail address of the intended recipient is registered with us, the funds will be instantly credited to the Noropay account associated with that e-mail address. Once funds are credited to the recipient’s Noropay account, the transaction becomes irreversible.

1.6 If the recipient’s e-mail address is not registered with us, we will send a notification e-mail to that e­mail address with instructions on how to claim and receive the payment. If the recipient does not claim the payment within 14 days, the transaction will be cancelled and the funds will be returned to you. You may also cancel the transaction at any time before the funds have been credited to the recipient’s Noropay account. To cancel a transaction you should log into your Noropay account, locate the relevant transaction in your transactions history and select “Cancel”. 

1.7 When you send or receive a payment, we will disclose your registered account name to the recipient and/or sender in order to process the respective transaction. We may also display that information in notifications sent to the recipient and/or sender.

1.8  You must not make an upload through a Payment Method if you are not the named holder of that Payment Method. We take any violation of this requirement very seriously and will treat any attempt to use a Payment Method of which you are not the named holder as a fraudulent act.

1.9  If you choose to upload funds using a Payment Method that may be subject to a right to claim funds back (a "Chargeback") such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such Chargeback other than for unauthorized use of the Payment Method or for a breach by us of these Terms of Use which would result in you having a right to a refund of the uploaded amount. Otherwise, you may not Chargeback any upload transaction or allow Chargeback of any upload transaction for reasons for which we are not responsible including (but not limited to) disputes with merchants for non-delivery of goods or services or insufficient balance on the Payment Method account. 

We reserve the right to charge you fees and expenses we incur in connection with such Chargeback and any action undertaken to challenge the same. We may also charge you a Chargeback fee.

1.9.1  Uploaded funds will be credited to your Noropay account after the funds have been received by us. Some upload transactions, such as those by credit or debit card, direct debit or direct banking will be credited to your Noropay account immediately, but are subject to reversal if the actual funds do not reach us within a reasonable time in which case we will deduct such reversed transaction from the balance of your Noropay account. If your Noropay account balance is insufficient, we reserve the right to require repayment from you. 

1.9.2  For the purposes of an upload transaction through a Payment Method, we are an e-money issuer and will issue e-money in exchange for the uploaded funds. We will not be acting as a payment service provider when receiving such funds.

1.9.3  Uploads may be subject to upload limits due to security and legal requirements. These limits are set dynamically depending on your verification status and the upload method you want to use. You should be aware that depending on your verification status your upload limits may be higher than your withdrawal or spending limits. 

2.Sending Payments

2.1  To send a payment you are required to authorize the payment with your login details and password. We may also ask you additional security questions relating to you or your Noropay account. If your Noropay account is protected by additional security measures such as password tokens, you need to follow the instructions provided to you with such additional security measures. If your Noropay account is enabled to make mass payments, the procedure to make such payments will be communicated to you in the relevant integration manual.

2.2  You can make recurring payments by setting up a recurring payment order on your Noropay account. You can cancel your recurring payment order for future payments at any point by logging into your Noropay account and deleting it. You will not be able to cancel transactions that have already been credited to the recipient.

2.3  Payments are subject to payment limits due to security and legal requirements. These limits are set dynamically depending on your verification status. You can view these limits at any time in your Noropay account profile. You should ensure that your limits are sufficient to cover the payment you intend to make as well as any applicable fees including service fees and currency conversion fees. You should be aware that the recipient of a payment may also be subject to spending and withdrawal limits and that this may affect the recipient’s access to the funds you intend to send.

2.4  Sending payments is subject to fees including currency conversion fees (if applicable) depending on the type of payment you make and the type of Noropay account you hold.

3.Receiving Funds

3.1 If you receive funds into your Noropay account, we will send you a notification email and display the payment as a “Receive Money” transaction in your transactions history, together with the date of receipt (the credit value date), the fees charged and, where applicable, any exchange rate used. Each transaction is given a unique transaction ID and shown in the transaction history. We will not alter or amend information displayed in your online transaction history. You should regularly reconcile incoming payments with your own records.

3.2  You should be aware that receipt of funds to your Noropay account does not necessarily mean that these transactions cannot be reversed. We reserve the right to reverse a payment if the payer or the payer’s bank or payment service provider has charged back or otherwise reversed (or is reasonably likely to Chargeback or otherwise reverse) an upload or other payment which was used to fund the payment to you.

3.3  If a person received a payment notification from us indicating that someone has sent them funds to an email address that is not registered, they will not be credited with the payment until it has been claimed in accordance with the instructions laid out in the notification email. Until then, there will be no contractual or fiduciary relationship between us and the intended recipient. The funds remain those of the sender.

3.4 The receipt of payments is subject to fees and currency exchange fees, depending on the type of payment you receive and the type of Noropay account you have.

4.Withdrawing Funds

4.1 You can request a withdrawal of all or part of the funds held in your Noropay account at any time. To do this you must log into your Noropay account and select a withdrawal method and enter the amount to be withdrawn. Withdrawal methods are payment services provided, at least in part, by third party financial institutions where you hold a bank account. We do not guarantee the availability of any particular withdrawal method and may make changes to or discontinue a particular withdrawal method at any time without following the procedure as long as there is at least one withdrawal method available to you. Where the withdrawal payment is received by you through the involvement of a payment service provider (such as the bank where you hold a bank account), we shall not be responsible for the withdrawal payment once the withdrawn funds are received by your payment service provider. We also reserve the right to request an alternative bank account or other withdrawal method to be used in case we are unable to process the withdrawal to your preferred withdrawal method.

4.2 Your Noropay account is subject to withdrawal limits. These limits are adjusted dynamically depending on the type of identification documentation we hold on you. Before uploading any funds into your Noropay account, you must ensure that your current withdrawal and spending limits meet your withdrawal and spending requirements as we legally cannot allow you to exceed these limits.

4.3 If your withdrawal request exceeds the current limit, we may decline your request and instead require you to send us documents verifying your identity and address prior to allowing a withdrawal of funds or to otherwise cooperate with us to verify your identity.

4.4 Withdrawals are subject to fees including currency conversion fees.

4.5 For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.

4.6 You must not make a withdrawal to a bank account or other Payment Method if you are not the named holder. We take any violation of this requirement very seriously and will treat any attempt to use a Payment Method of which you are not the named holder as a fraudulent act.

4.7 You must ensure that the payment details you enter when withdrawing funds are correct and complete. We will not be liable for withdrawn funds being sent to the wrong account where this is due to you providing incorrect payment details. When withdrawing to a bank account, you must ensure that the account number, sort code, IBAN and/or BIC/SWIFT are correct. 

5.Fees

5.1 Fees depend on whether you are using your Noropay account for personal or commercial use.

5.2 Your Noropay account is free for personal use as long as you log in or make a transaction . If you do not withdraw the remaining balance from your Noropay account on closure , we advise you withdraw before closing your account with Noropay.

5.3 Our Fees are either expressed as a percentage of the transaction or as a fixed amount in EUR. Where fixed fee amounts are displayed in a currency other than EUR, this is for information purposes only. If fees are deducted from a balance or a transaction denominated in a different currency, the EUR fee amount will be converted into an equivalent fee in that other currency based on the Noropay exchange rates applicable at the time and then deducted. We will not apply a foreign exchange fee on currency conversions of fees.

5.4 Fees payable by you will be deducted from your Noropay account balance and you hereby authorize us to do the same. Transaction fees will be charged when the transaction is executed. If your Noropay account balance is insufficient to cover the fees, we may refuse to execute the payment. Reversal or chargeback fees will be deducted when incurred.

6.Fees

6.1 Fees depend on whether you are using your Noropay account for personal or commercial use.

6.2 Your Noropay account is free for personal use as long as you log in or make a transaction . If you do not withdraw the remaining balance from your Noropay account on closure , we advise you withdraw before closing your account with Noropay.

6.3 Our Fees are either expressed as a percentage of the transaction or as a fixed amount in EUR. Where fixed fee amounts are displayed in a currency other than EUR, this is for information purposes only. If fees are deducted from a balance or a transaction denominated in a different currency, the EUR fee amount will be converted into an equivalent fee in that other currency based on the Noropay exchange rates applicable at the time and then deducted. We will not apply a foreign exchange fee on currency conversions of fees.

6.4 Fees payable by you will be deducted from your Noropay account balance and you hereby authorize us to do the same. Transaction fees will be charged when the transaction is executed. If your Noropay account balance is insufficient to cover the fees, we may refuse to execute the payment. Reversal or chargeback fees will be deducted when incurred.

7.Third Party Providers (Agent)

7.1  A Third Party Provider is a service provider that is permitted by law to make payments from your account on your behalf and to provide account information services to you, provided they are acting in accordance with your instructions and the relevant regulatory requirements. You can check whether the provider is authorized in the information they give to you about the services they will provide.

7.2 We will treat any instruction from a Third Party Provider as if it were from you and the terms of this Agreement will still apply. If you consent to a Third Party Provider having access to information concerning your account, we will assume that you consent to access being granted as frequently as the Third Party Provider requests it.

7.3 If you give your security details to someone who is not a Third Party Provider, we will have to assume it is you that is authorizing us to give access to your account, we will treat payments instructed by that third party as authorized by you and will not be responsible for any losses you suffer as a result of misuse or disclosure of information about your account by that third party.

7.4 We may refuse to allow a Third Party Provider to access your Noropay account if we are concerned about unauthorized or fraudulent access by that Third Party Provider. Before we do this we will tell you and explain our reasons for doing so, unless it is not reasonably practicable, in which case we will tell you immediately afterwards. In either case, we will tell you using any of the contact details we hold for you. We won’t tell you our reasons where doing so will undermine our reasonable security measures or otherwise be unlawful.

7.5 If you think a payment may have been made incorrectly or is unauthorized, you must tell us as soon as possible even where you use a Third Party Provider. If you ask a Third Party Provider to request a payment and they do not do this, we will not be responsible for your payment not being made. Once a Third Party Provider has initiated a payment, you cannot normally cancel it.

8.General Provisions

8.1  This User Agreement regulates relationship between the User and the Service in respect of the services provided by NoroPay and cancels any previous agreements between the Service and the User on this subject.

8.2  This Agreement complies with the laws and regulations effective in the countries where the User and the Service are registered and/or currently reside; it does not terminate any agreements between the User and Electronic Payment Systems.

8.3  By using or accessing NoroPay and/or forming any Orders you unconditionally accept all provisions of this Agreement. 

8.4  The properties and conditions of an Order are considered a public offer.

8.5  The actions aimed at submitting an Order are considered an acceptance of the public offer and the conditions stated by the Service, right before the Order is submitted by the User.

8.6  The date and time of the acceptance as well as the properties of the Order are recorded by the Service at the moment of the User’s submitting of the Order.

8.7  This Agreement applies to the two parties upon User’s submitting the Order.

8.8  This Agreement becomes ineffective at the moment the funds are sent in full to the account specified by the User in the Order, or at the moment of cancellation of the Order.

8.9   Both the parties admit that this Agreement in electronic form is as effective as if it would have been in written form.

8.9.1  The Service reserves the right to modify this User Agreement without notice to the User, on condition of immediate publishing the up-to-date version of the Agreement on this page.

9.Rendering of Service

9.1  Processing of the User’s Orders is fulfilled by the Service in compliance with our Privacy Policy and with the Anti-Fraud and Money Laundering Prevention Policy (chapter 5 of the Agreement).

9.2  Ordering of NoroPay services, administrating of the transaction process and checking of the transaction status are fulfilled only by the means of the user interface provided on the Noropay website.

9.3  The record-keeping of the transactions with Title Units is processed according to the rules and regulations of the respective Electronic Payment Systems.

9.4  Any completed transaction of exchanging, buying or selling Electronic Currency, as well as any other transaction completed by the means of Noropay, is considered

irrevocable, thus cannot be canceled upon being completed, i.e. upon the User’s receiving the Title Units or other financial means that are supposed to be transferred to the User by the previously accepted conditions.

9.5  In case the funds are not transferred to the account given by the Service, within one hour from the moment the Order has been submitted by the User, the agreement based on the conditions specified in the order will be unilaterally canceled by the Service without notice.

9.6   Any electronic currency transferred afterwards is subject to return within the following 24 hours, with transaction fees charged. We do not assume responsibility for any delays unless they are caused by the Service.

9.7   In case the amount of funds transferred by the User differs from that indicated in the Order, the Service shall treat it as a request to recalculate the Order in accordance with the received amount.

9.8   If the amount of funds transferred differs from that indicated in the Order, the amount which the user should receive will be recalculated. We do not assume responsibility for any delays unless they are caused by the Service.

9.9  In case of non-receipt of the Title Units by the User within 48 hours from the moment the Order has been submitted, the User may request a termination of the transaction and return the title units in full in case no particular reason for the suspension of transaction (Exchange of Electronic services).

9.9.1  The transaction will be terminated on the User’s request only if the funds have not been sent to the User’s account using the account details provided in the Order.

9.9.2  In case of termination, the return will be fulfilled within 24 hours from the moment the termination request has been filed. The Service assumes no responsibility for any delays incurred during the return process unless they are caused by the Service.

9.9.3  In order to carry out the obligations stated in this Agreement, the Service reserves the right to use third-party labor.

9.9.4  All buy order payments must be made same day which the order was made to avoid expiration of order.

9.9.5  In cases where user paid for buy order before expiration deadline and was not credited. User has within 120hours to provide us with all evidence of payment for us to validate and process order, after which we will no longer validate that transaction.

9.9.6  We reserve the right to terminate any transaction being processed and return the Electronic Currency and/or financial means previously uploaded by the User, without explanation.

9.9.7  We reserve the right to refuse service in case the User has violated any provision of this Agreement and a refund will not be made.

9.9.8  In case we refuse service, we will notify the User by email. After this, we suspend all current Orders of the User. 

9.9.9  All further Orders submitted by the User after we refuse service, will be suspended automatically. The accounts connected with these Orders will be blocked.

9.10.1  We do not render services for, and does not accept Orders or honor account creation requests from individuals who are not of legal age pursuant to the laws of their country of residence.

10.Liability Rendering of Service

In the case of an unauthorized payment or a payment that was incorrectly executed due to an error by us, we shall, as soon as practicable, refund the payment amount including all fees deducted therefrom. This shall not apply:

If you fail to notify us without undue delay of any loss of your password or other security features or other event that could reasonably be expected to have compromised the security of your Noropay account after you have gained knowledge of such event in which case you shall remain liable for losses incurred until you notify us;

If the transaction was unauthorized but you have acted fraudulently or compromised the security of your Noropay account with intent or gross negligence, in which case you shall be solely liable for all losses.

Without prejudice to the foregoing, you are asked to check the transactions history of your Noropay account regularly and frequently and to contact Customer Service immediately in case you have any questions or concerns.

In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.

Subject to the foregoing, we shall not be liable for any disruption or impairment of our service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control or the control of the intermediary affected.

We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.

Our obligation under these Terms of Use is limited to providing you with an electronic money account and related payment services and we do not make any statement in relation to or endorsement of the quality, safety or legality of any goods or services provided by a Noropay customer or intermediary.

We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from your use of the Noropay account or services provided.

12.Termination and Suspension of Service

We may close your Noropay account and stop providing any payment services associated with it by giving you two months’ prior notice. You may close your Noropay account with us at any time. When your Noropay account is closed these Terms of Use shall terminate with immediate effect. Different termination provisions may apply if you use your Noropay account for commercial purposes.

Together with a termination notice or at any time thereafter we may give you reasonable instructions on how to withdraw remaining funds.

If your Noropay account is subject to a reserve, closure of your Noropay account will not affect our right to hold the reserve and to make deductions therefrom for the time agreed.

We may at any time suspend or terminate your Noropay account without notice.If we  believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity;

If we reasonably suspect your Noropay account to have been used or is being used without your authorization or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify you.

13.Definitions of Service

Various terms in these Terms of Use have a defined meaning as follows:

“Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday. 

“Customer Service” means our customer service, which you can reach by sending a message through the “Support” facility on the website

“Fees” means the charges payable by you to us for using our services

“Payment Method” means bank transfer and payment instruments including, but not limited to, credit cards and debit cards.

“Privacy Notice” is the Noropay’s policy governing the processing of personal data which is available on the Website, as may be amended from time to time

“Noropay account” means the electronic money account you open and maintain through the Noropay Website

“Noropay Exchange Rate” means a reference exchange rate set by us, changing continuously throughout each day. 

“Noropay Website” or “Website” means the website available at noropay.com

“Terms of Use”, means these Noropay account Terms of Use, published on the Website and as may be amended from time

 “We”, “us”, “our” means Noropay

“You”, “your” means you, the natural person or legal entity in whose name the Noropay account is opened and maintained

14.Change to these Terms of Service

These Terms of Use and any additional terms and conditions that may apply are subject to change. Changes will be implemented with prior notice from us under the procedure set forth in this section.

We shall give notice to you of any proposed change by sending an email to the primary email address registered with your Noropay account.

***Edited 14-01-2023***