General Terms of Use

Introduction:
These General Terms of Use (“Terms”) govern your access to and use of the Globnk.com platform and services. The platform is provided by Globnk PL sp. z o.o. (“Globnk,” “we,” “us,” or “our”). By registering for or using Globnk’s platform, you (“User” or “you”) agree to comply with these Terms and all applicable laws and regulations. Please read these Terms carefully before using the platform.

Scope of Services:
Globnk provides a secure financial technology platform and infrastructure enabling Users to manage deposits, withdrawals and digital assets in compliance with legal requirements. Our services include, but are not limited to:

• Conducting and receiving payment transactions in a manner compliant with applicable regulations and industry standards.
• Processing deposits and withdrawals in collaboration with licensed financial institutions selected by Globnk (such institutions are responsible for executing actual fund transfers on our behalf).
• Offering multi-currency Stable Token services, including storage of value, transfers, and conversion between fiat currency and digital tokens. Each Stable Token is a digital asset pegged 1:1 to a designated fiat currency (e.g. USD, EUR) (PAYMENT SERVICE – Terms 1.0.docx).
• Enabling minting and management of tokens (including reward tokens or debt tokens) on supported networks as part of our services (e.g. issuing reward tokens for loyalty or providing tokenized credit to eligible Users).

Globnk may modify or expand the scope of its services over time. We reserve the right to update or discontinue certain services, and will communicate any material changes to Users appropriately.

Account Registration and Verification:
To access the platform, you must create a User Account with Globnk. You agree to:

• Provide Accurate Information: Submit truthful, current, and complete information during registration and keep your profile information (such as name, address, tax ID, and contact details) up-to-date.
• Eligibility: Ensure you meet the eligibility criteria. You must be at least 18 years old (and of full legal capacity) to register. You may register as an individual or on behalf of a legal entity (company or organization), provided all registration information (e.g. business name, registered address, company identifiers, and beneficial owners) is accurate and the entity is compliant with relevant laws.
• Identity Verification (KYC/KYB): Comply with all verification procedures required by Globnk, including “Know Your Customer” (KYC) for individuals and “Know Your Business” (KYB) for business accounts. This may require providing identity documents, proof of address, information on directors/shareholders, and source of funds details (Understanding KYC Crypto Requirements | Trulioo). You agree to cooperate with Globnk’s ongoing compliance checks and periodic requests for information, as mandated by anti-money laundering and counter-terrorism financing laws. Unverified or partially verified Users may be restricted from using some or all services until verification is completed.
• Account Security: Maintain the confidentiality of your login credentials. You are responsible for all activities under your account. Notify us immediately at support@globnk.com if you suspect any unauthorized access or security breach. Globnk will not be liable for losses arising from unauthorized access due to your failure to secure your account.
• User Responsibilities: Use the platform only for legitimate, lawful purposes. You must comply with these Terms, Globnk’s policies, and all applicable laws and regulations when using our services. Users are responsible for their own actions on the platform and for all transactions initiated through their account.

Platform Usage and Compliance Obligations:
By using Globnk, you agree to conduct your activities in compliance with all applicable laws and regulatory frameworks. This includes obligations under financial regulations, such as:

• Anti-Money Laundering/Counter Terrorist Financing (AML/CFT): You must not use the platform to conceal or transfer illicit funds. Globnk complies with AML/CFT laws and may monitor transactions, report suspicious activity, or request additional information to remain compliant. We may suspend or refuse services if you do not fulfill KYC requirements or if your usage is suspected to violate AML laws.
• Sanctions and Restricted Activities: You affirm that you (and any end-users or parties to your transactions) are not subject to any economic or trade sanctions. The platform must not be used for deposits and withdrawals involving sanctioned persons, entities, or countries, or for any business that is illegal or subject to embargo.
• Regulated Services: You acknowledge that Globnk is not a bank or a licensed credit institution. Our Stable Token service may be regulated under cryptocurrency or electronic money regulations in Poland and the EU. Globnk PL sp. z o.o. is registered in Poland under KRS number 0001142714 and is authorized to conduct cryptocurrency business under registration number RDWW-1755 (General Terms of Use Globnk.com Platform for Users 1.0.docx). All fiat currency transactions are processed by our licensed partner institutions in accordance with relevant payment services laws. You are responsible for complying with any local laws that may apply to your use of Globnk services (such as reporting foreign accounts or adhering to exchange control rules, if applicable).

Payment Processing and External Partners:
Globnk facilitates your payment transactions by working with licensed third-party financial service providers (such as banks, payment processors, or electronic money institutions). By using Globnk’s payment features, you agree that:

• Third-Party Execution: Globnk will route fiat fund transfers (deposits, withdrawals, wire transfers, etc.) through our partner financial institutions. While we carefully select regulated partners, the actual execution and timing of fiat transactions depend on those institutions. Globnk is not liable for delays or errors caused by external payment service providers (General Terms of Use Globnk.com Platform for Users 1.0.docx).
• Internal Transfers: Transactions between Globnk Users using Stable Tokens are conducted on our internal platform ledger. These transfers are generally instantaneous within the platform, but remain subject to our security and compliance checks.
• Transaction Reversals/Errors: In the event of any incorrect or erroneous transaction (for example, if you receive funds by mistake), you agree to cooperate with Globnk to resolve the issue. This may include promptly returning funds that were credited to you in error or providing necessary information about a transaction. Globnk may, with notice, reverse or adjust transactions in your account to correct mistakes or recover misdirected funds, in accordance with legal requirements.
• Withdrawals: Converting Stable Tokens back to fiat and withdrawing to your bank account will be done at your instruction. Withdrawals of fiat currency are only processed to bank accounts in your name (for businesses, to the company’s bank account) that you have registered with Globnk (PAYMENT SERVICE – Terms 1.0.docx). This is a security measure to prevent unauthorized third-party withdrawals. Withdrawal requests will typically be fulfilled by debiting your Stable Token balance and initiating an equivalent transfer of fiat funds to your bank, or by transferring cryptocurrencies to your external wallet, as applicable.

Fees and Charges:
Using certain Globnk services may incur fees. Globnk will inform you of any fees or charges upfront, before you confirm a transaction or use a service. Examples of fees include conversion spreads, withdrawal fees, or account service fees (if applicable). All fees are transparently disclosed through the platform interface or in a fee schedule. By proceeding with a transaction after seeing the applicable fee, you consent to that fee. Globnk may update its fees from time to time and will notify Users of any changes to fee schedules in advance (for example, via the website or email). There are no hidden fees; any charges not disclosed and agreed to by you will not be applied.

Prohibited Activities:
Users are strictly prohibited from using the Globnk platform for any activities that are unlawful, abusive, or that contravene Globnk’s rules or ethical standards. Prohibited uses include, but are not limited to:

• Illegal Transactions: Conducting or facilitating transactions involving illegal goods or services, such as narcotics, illegal arms, fraud schemes, or any activity that would violate applicable law.
• Fraud and Security Violations: Engaging in fraudulent behavior, impersonating any person or entity, or attempting to deceive Globnk or other Users. Additionally, you must not attempt to probe, scan, or test the vulnerability of the platform, breach security or authentication measures, or introduce any malware or harmful code into the platform. Any attempt to compromise Globnk’s system integrity or to gain unauthorized access to other accounts is strictly forbidden.
• Financial Crime and Evasion: Using the platform to launder money, finance terrorism, evade taxes, or circumvent reporting or legal requirements. You may not use Globnk to bypass international financial regulations or to transfer funds in violation of trade or economic sanctions.
• Harm to Others or the Platform: Engaging in activities that harm other Users, Globnk, or third parties. This includes using Globnk’s services in a manner that could damage, disable, overburden, or impair our servers or networks, or interfere with any other party’s use of the platform. Harassing, threatening, or defrauding other Users or Globnk staff is also prohibited.

Globnk reserves the right to suspend or terminate your account if we determine, in our sole discretion, that you have engaged in any of the above activities or any activity that is otherwise illegal or in breach of these Terms. We may also report such violations to law enforcement or other authorities as appropriate.

Taxes and Reporting:
You are solely responsible for determining and fulfilling your tax obligations that arise from your use of Globnk services. Any income, sales, value-added, or other taxes applicable to transactions or rewards obtained through Globnk are your responsibility. Globnk does not calculate, withhold, or remit taxes on your behalf, unless explicitly required by law in specific circumstances. We strongly encourage you to maintain records of your transactions and consult with a tax advisor to ensure you comply with all tax reporting requirements in your jurisdiction (General Terms of Use Globnk.com Platform for Users 1.0.docx). Globnk will comply with any lawful requests from tax authorities (such as providing transaction history or account information, if properly requested), but we do not provide personalized tax advice.

Limitation of Liability and Dispute Resolution:
Globnk strives to provide a reliable and secure platform, but there are inherent risks in any financial service. This section outlines important disclaimers and limitations of our liability:

• No Mediation of User Disputes: Globnk is not a party to the underlying transactions between you and any third party (for example, between a seller User and their buyer or client). We do not mediate disputes that may arise between you and your customers, suppliers, or other parties. Any disagreements regarding the purpose of a payment, quality of goods/services, refunds, etc., are between the transacting parties.
• Platform Availability: The platform and services are provided on an “as is” and “as available” basis. While we aim for high availability and continuity, Globnk does not guarantee uninterrupted service or error-free operation at all times. Scheduled maintenance or unforeseen outages may occur. We will use reasonable efforts to provide advance notice of major downtime and to resolve any service interruptions, but we are not liable for any loss or inconvenience caused by service unavailability.
• Indirect Damages: To the fullest extent permitted by law, Globnk will not be liable for indirect, consequential, or special damages, or for lost profits, lost revenue, loss of business opportunity, or anticipated savings, arising from or related to your use of the platform (General Terms of Use Globnk.com Platform for Users 1.0.docx). This limitation applies even if we have been advised of the possibility of such damages.
• Direct Liability Cap: Globnk’s total aggregate liability for any claims arising in connection with the platform or these Terms will not exceed the fees actually paid by you to Globnk in the 3 months preceding the event giving rise to the claim (or, if no fees were paid, an amount of 100 EUR as a nominal cap). This limitation does not exclude liability that cannot be limited under law (such as liability for fraud or personal injury caused by negligence, if applicable).
• User’s Liability: You may be held liable for losses incurred by Globnk or others due to your breach of these Terms or misuse of the platform. This includes liability for transactions that violate the Terms or law, and any use of your account by others if you have failed to secure your credentials.
• No Warranty: Globnk makes no warranty or representation, express or implied, about the accuracy, reliability, or suitability of the platform for your specific purposes. All warranties of merchantability, fitness for a particular purpose, and non-infringement are expressly disclaimed to the extent permitted by law.
• Dispute Resolution: Any dispute or claim arising out of or in connection with these Terms or your use of the platform shall be governed by the laws specified in the Governing Law section below and brought before the competent courts as described. Prior to formal legal action, we encourage Users to contact Globnk support to attempt to resolve issues amicably.

Updates and Amendments:
Globnk reserves the right to update, amend, or modify these Terms of Use at any time. We may revise these Terms for reasons that include, but are not limited to, changes in law or regulation, changes in our services or business practices, or for security reasons. When we make changes, we will notify Users by appropriate means – for example, by posting the revised Terms on our website and/or by sending an email notification. Any updated Terms will indicate the “Last Updated” date. Unless otherwise required by law, changes to the Terms will become effective after they are communicated to you. By continuing to use the platform after the effective date of updated Terms, you are indicating acceptance of the new Terms. If you do not agree to the changes, you must stop using the platform and may request account closure. We encourage you to review the Terms periodically to ensure you understand the current rules for using Globnk.

Governing Law and Jurisdiction:
These Terms and any separate agreements whereby we provide you services are governed by and construed in accordance with the laws of Poland. Globnk PL sp. z o.o. is a company registered and operating in Poland, and thus Polish law will apply to the interpretation and enforcement of these Terms, without regard to conflict of law principles. Any disputes or claims arising out of your use of the Globnk platform or these Terms that cannot be resolved through our support channel shall be brought exclusively in the courts competent for Globnk’s registered seat. By agreeing to these Terms, you consent to the jurisdiction of the Polish courts. If you are a consumer entitled to mandatory consumer protections under the laws of your country of residence, nothing in this section will affect those protections or your ability to resolve disputes in your home jurisdiction as provided by law.

Contact and Company Information:
If you have any questions, concerns, or require assistance regarding the platform or these Terms, please contact us:

• Email: support@globnk.com
• Registered Company: Globnk PL sp. z o.o., a limited liability company registered in Poland.
• Registered Address: ul. Bartycka 22B, lok. 21A, 00-716 Warsaw, Poland.
• Company Registration (KRS): 0001142714, registered in the National Court Register of Poland.
• Cryptocurrency Business Registration: RDWW-1755, registered with the National Tax Administration in Katowice, Poland (General Terms of Use Globnk.com Platform for Users 1.0.docx). (This registration certifies Globnk’s authorization to conduct cryptocurrency-related activities in compliance with Polish regulations.)
• Last Updated: March 14, 2025.

Payment Services Terms

Introduction:
These Payment Services Terms (the “Payment Terms”) apply specifically to Globnk’s payment and Stable Token services offered through the Globnk.com platform. They supplement the General Terms of Use and provide additional rules for using Globnk’s digital token system, fiat conversions, internal transfers, and related payment functionalities. By using Globnk’s payment services (such as depositing funds, transacting in Stable Tokens, or withdrawing funds), you agree to these Payment Terms. In the event of any conflict between these Payment Terms and the General Terms, these Payment Terms will govern matters related to payment services. All definitions and terms from the General Terms of Use apply here as well, unless defined differently below.

1. Definitions: For the purpose of these Payment Services Terms, the following definitions apply (in addition to definitions provided in the General Terms):

• Globnk / Operator: Globnk PL sp. z o.o., the operator of the Globnk.com platform and all related payment services.
• Platform: The Globnk.com website and associated applications or APIs through which Globnk provides its services.
• User Account: Your account on the Platform, which includes a digital wallet for Stable Tokens and access to payment features. Each User Account is for your exclusive use and is secured by your credentials.
• Stable Token: An internal digital token issued by Globnk on the Platform, designed to maintain a stable value by being pegged to a specific fiat currency on a 1:1 basis (e.g., 1 token = 1 unit of the fiat currency). Globnk may offer multiple Stable Tokens pegged to different fiat currencies (such as USD, EUR, GBP, etc.) (PAYMENT SERVICE – Terms 1.0.docx). Stable Tokens are used as the settlement asset for transactions on the Platform.
• Transaction: Any operation involving Stable Tokens on the Platform. This includes (a) exchanging fiat currency or other supported cryptocurrencies for Stable Tokens (often called “deposit” or “token purchase”), (b) internal transfers of Stable Tokens between Users within the Platform, and (c) exchanging Stable Tokens back to fiat currency or to other supported digital currencies (“withdrawal” or “redemption”).
• Transfer: An internal transaction on the Platform wherein Stable Tokens are moved from one User’s account to another’s. Transfers are recorded on Globnk’s internal ledger and do not involve external banks or blockchains (unless explicitly stated for certain token networks).
• Conversion Rate: The exchange rate applied when converting between fiat currency and Stable Tokens, or between Stable Tokens and other currencies. The Platform will display the current rate at the time of transaction, which may be influenced by external market rates and Globnk’s pricing formula.

2. Description of Service:
   Globnk’s payment service enables Users to seamlessly move between fiat currency and Stable Tokens and to send or receive deposits and withdrawals using those Stable Tokens. The service works as follows:

• Funding Your Account (Fiat to Stable Token): To obtain Stable Tokens, you deposit fiat money or supported cryptocurrency with Globnk. Fiat deposits are made via bank transfer or other payment methods to Globnk’s designated bank account (or, for crypto, to Globnk’s wallet address). Upon receipt of your funds, Globnk will credit your User Account with an equivalent amount of Stable Tokens. This credit is done at the current conversion rate provided by the Platform at the time of processing your deposit (PAYMENT SERVICE – Terms 1.0.docx). For example, if you deposit 100 USD to the Platform, you will receive 100 USD-pegged Stable Tokens (minus any applicable fees disclosed).
• Using Stable Tokens for Payments: Once your account is funded with Stable Tokens, you can use them to make payments or transfers to other Users on the Platform. An internal Transfer between Users will deduct the specified number of Stable Tokens from your balance and add the equivalent tokens to the recipient’s balance. Internal transfers are typically instant and do not incur third-party banking fees. They can be used for transactions such as paying vendors, affiliates, or other parties who also use Globnk.
• Receiving Payments: If another User transfers Stable Tokens to your User Account, you will see an increase in your Stable Token balance. You can hold these tokens in your account (for later use or potential Rewards as described in the Rewards & Interest Terms) or convert them to fiat at your discretion.
• Converting Stable Tokens to Fiat (Withdrawal): You may, at any time, request to redeem your Stable Tokens for the underlying fiat currency or for another supported cryptocurrency. When you initiate a withdrawal of fiat, Globnk will deduct the corresponding Stable Tokens from your balance and arrange an equivalent fiat transfer to your linked bank account. This is effectively a sale of Stable Tokens back to Globnk in exchange for fiat. If you choose to convert Stable Tokens to a different digital asset (where supported), Globnk will facilitate the exchange at the displayed rate and send the resulting asset to your provided wallet address. Converting Stable Tokens to fiat and withdrawing is treated as a single Transaction – once you confirm the conversion, it triggers the withdrawal to the bank or wallet details you provide (PAYMENT SERVICE – Terms 1.0.docx).
• Supported Currencies: Globnk may support multiple fiat currencies and digital assets. We will inform you which currencies are available for deposit, withdrawal, and conversion on the Platform. If you deposit a currency or cryptocurrency that Globnk supports, it will be converted into the corresponding Stable Token or used to purchase an equivalent value of Stable Tokens pegged to another currency (depending on what you select).
• Fees and Rates: Globnk applies any applicable fees or conversion spreads to Transactions, which are clearly shown to you before you finalize a Transaction (PAYMENT SERVICE – Terms 1.0.docx). For example, if there is a conversion fee or a difference between buy/sell price of a Stable Token, it will be indicated. By confirming the Transaction, you agree to pay those fees. If no fee is shown, then the transaction is free of charge (Globnk currently offers no fee internal transfers between Users, for instance).
• Use of Subcontractors: Globnk may use external partners or subcontractors to fulfill certain aspects of the service (PAYMENT SERVICE – Terms 1.0.docx). For instance, we might use a licensed crypto liquidity provider to help convert between Stable Tokens and other cryptocurrencies, or banking partners to hold and transfer fiat funds. Any such subcontractors operate under Globnk’s direction and applicable agreements, and Globnk remains responsible for the overall provision of the service to you.
• Service Availability: The Platform’s conversion and transfer services are available according to the Platform’s operational hours (generally 24/7 for internal operations). However, fiat deposit and withdrawal processing depend on banking hours and cut-off times. We will process incoming and outgoing bank transfers promptly, but they might not occur on weekends or public holidays depending on the banks involved. Globnk is not responsible for the time it takes for your bank or another payment provider to actually deliver funds to us or to you once we have instructed a payout.

Please note that Stable Tokens are not legal tender; they are digital representations of fiat currency held by Globnk’s partners. While each Stable Token is intended to maintain a one-to-one peg with its reference fiat currency, Globnk does not guarantee that the value will never fluctuate. For example, if converting Stable Tokens to a different currency or asset, exchange rates can vary and might result in slightly more or fewer funds than expected due to market movements (PAYMENT SERVICE – Terms 1.0.docx). Globnk will always show you the applicable rate at the time of your transaction.

3. User Verification (KYC/AML Requirements):
   Globnk takes compliance seriously. To use any Payment Service features, you must have a verified account:

• Registration Data: Upon account signup, you provided personal or corporate information. You must ensure this information is truthful and complete. For individual Users: your full name, date of birth, nationality, current address, email, and a verified phone number may be required. For corporate Users: company name, registration number, registered address, industry, and details of directors or ultimate beneficial owners (UBOs) are required (PAYMENT SERVICE – Terms 1.0.docx). We may ask for documentation to support these details (e.g., government-issued ID, proof of address, corporate registration documents).
• Verification Process: Globnk will conduct a Know Your Customer (KYC) verification (and for entities, Know Your Business – KYB) in accordance with applicable anti-money laundering laws and regulations (PAYMENT SERVICE – Terms 1.0.docx). This process can include identity verification through ID documents, selfie or biometric checks, verification of your provided bank account or wallet ownership, and gathering information about the source of funds you plan to use on the platform. For businesses, we may also perform checks on your business registration, ownership structure, and the nature of your business activities to assess industry risk. All Users must comply with these verification requests. Until your account is verified and approved, you will not be able to use the deposit, transfer, or withdrawal functions of the Platform.
• Ongoing Compliance: Even after initial verification, Globnk may require you to provide additional information or update documents on a periodic basis or when certain thresholds are met. For example, if your transaction volume increases significantly or if you start using new features, we might perform enhanced due diligence. This could involve providing updated identification, more detailed proof of your funds’ origin, or explanation of the nature of certain transactions. These measures are to ensure continuous compliance with AML/CFT rules and to protect both you and Globnk from fraud or illicit activity.
• Failure to Verify: If you refuse or fail to complete required verification steps, Globnk reserves the right to decline to provide services to you. Unverified Users (or those with expired/outdated verification) are not permitted to transact (PAYMENT SERVICE – Terms 1.0.docx). In such cases, any funds you attempted to deposit may be returned to the original source (if feasible), or maintained in a restricted status until verification is completed or the relationship is terminated in accordance with law.
• Account Limits: Based on your verification status and Globnk’s risk policies, we may impose certain limits on your account (e.g., maximum daily transfer amounts, deposit limits, etc.). These limits are for regulatory compliance and security. We will inform you of any such limits applicable to your account. Generally, higher tiers of verification (providing more information) will result in higher permissible transaction limits, whereas unverified or partially verified accounts will have very low or no capabilities.

Globnk’s verification processes are designed to meet the requirements of laws and also to be as swift and user-friendly as possible. We appreciate your cooperation, which ultimately helps protect the integrity of the Platform and all Users.

4. Security and Fraud Prevention:
   When using Globnk’s payment services, you agree to do so in accordance with the law and these Terms to maintain a secure environment:

• Lawful Use: You undertake to use the Platform only for legitimate transactions. You must not use Globnk’s payment services to engage in fraud, money laundering, terrorist financing, or any activity that is unlawful or violates the Prohibited Activities section of the General Terms.
• Transaction Monitoring: Globnk may monitor Transactions for compliance and security purposes. If a particular Transaction appears suspicious or high-risk (for example, it significantly deviates from your normal activity or appears to involve a sanctioned entity), Globnk may pause or refuse to execute that Transaction pending further review (PAYMENT SERVICE – Terms 1.0.docx). This is to protect you and Globnk. We will generally notify you if a Transaction is delayed for review, unless legal constraints prevent us from doing so.
• Right to Refuse Service: Globnk reserves the right to refuse to process, or to cancel, any Transaction if we have a reasonable belief that processing the Transaction would violate any law, regulation, or these Terms (PAYMENT SERVICE – Terms 1.0.docx). This may include cases where: your account has not completed required KYC, we suspect the funds involved are derived from illegal activity, the recipient or sending bank is on a sanctions list, or the transaction violates our risk policies. We may also block or freeze funds in accordance with legal orders from authorities or as required by law.
• No Illegal Use Guarantee: Globnk is a neutral platform provider. We do not endorse or take responsibility for the legality of Transactions initiated by Users. You are solely responsible for ensuring that your use of Globnk’s payment services is legal in your jurisdiction and for your specific situation. Globnk does not assume liability for the underlying purpose of any transaction (for example, if you are paying for a product, we are not responsible for that product or any contract between you and the seller). We simply facilitate the movement of funds. As such, Globnk is not responsible for the legality of Transactions made by Users through the Platform, nor for verifying the truth of any invoice or reason for payment you provide.
• Account Security Measures: In addition to keeping your login credentials safe (as noted in the General Terms), for payment services you must also secure any API keys or payment authorizations. For example, if you use Globnk’s API (see API Access & Data Usage Agreement) to initiate deposits and withdrawals, your API credentials must be stored securely. Any instruction received through your authenticated account or API key will be treated as authorized by you.
• Liability for Unauthorized Transactions: Globnk will use commercially reasonable efforts to secure the Platform and protect against unauthorized access. However, any Transaction that is authenticated with your credentials or verification (including two-factor authentication, if enabled) will be treated as having been made by you. If you notice any unauthorized Transaction or suspect your account has been compromised, you must inform us immediately. We may assist in attempting to halt or recover fraudulent transfers, but we do not guarantee recovery of funds lost due to compromised User accounts (especially if due to the User’s negligence in safeguarding credentials).
• Platform Security: We implement industry-standard security protocols (such as encryption for data transmission and secure storage of sensitive information) to protect the Platform. Users should also ensure they are using the official Globnk website or app (check for correct domain, security certificates) to avoid phishing. We will never ask for your password via email or chat. If someone claiming to be from Globnk asks for sensitive information, contact us through official support channels.

5. Exchange Rate and Volatility Disclaimer:
   Stable Tokens aim to maintain a stable value relative to their pegged fiat currency. However, when you are converting between currencies or between Stable Tokens and other assets, be aware that exchange rates may fluctuate. Globnk does not guarantee that the peg will hold in all circumstances or that you will receive an exact fiat value for your Stable Tokens outside of the Platform environment. The value of a Stable Token in terms of another currency (for example, how many EUR a USD Stable Token is worth) will vary based on market exchange rates (PAYMENT SERVICE – Terms 1.0.docx). We source exchange rate information from reliable market feeds, but sudden market movements can occur. By using the conversion and transfer services, you acknowledge these risks. Globnk is not liable for losses due to exchange rate fluctuations, except to the extent a calculation error by us (not market movement) caused an incorrect conversion, in which case we will correct the error.
6. Fees and Pricing:
   Globnk’s fees for payment services (if any) are clearly disclosed as mentioned above. In summary:

• Conversion Fees: If Globnk charges a fee or spread for converting between fiat and Stable Tokens (or between different currencies), it will be included in the rate or shown as a separate fee before you confirm the transaction.
• Transfer Fees: Internal transfers between Users in the same Stable Token are generally free of Globnk fees. If we introduce a fee for certain transfers (for example, high volume micropayments or specific network fees if transferring on-chain in the future), we will inform you beforehand.
• Withdrawal Fees: Withdrawal of fiat to your bank may incur a bank transfer fee (e.g., outgoing wire fee) which either Globnk or the receiving bank might charge. If Globnk applies such a fee, it will be shown when you initiate the withdrawal. If your own bank or intermediary banks deduct fees, those are beyond Globnk’s control (for instance, an intermediary bank taking a fee on an international transfer).
• Other Costs: Globnk does not charge monthly account fees or maintenance fees at this time. If that changes, it will be communicated and likely part of separate commercial terms. There may be fees for additional services (for example, currency exchange between two different fiat Stable Tokens might involve a small fee or spread). Again, transparency is our policy: no fees will be hidden.

7. Limitations of Service and Liability (Specific to deposits and withdrawals):
   In addition to the general liability limitations in the General Terms, the following apply to payment services:

• No Financial Advice or Guarantee: Globnk is not giving you investment advice or guaranteeing that holding Stable Tokens will have any particular outcome. Any decision to hold or convert Stable Tokens is your own decision.
• Service “As-Is”: The payment services (fiat ramps, token transfers, etc.) are provided as-is. While we endeavor to process transactions quickly, we make no guarantee on processing times, especially where third-party banks or blockchain networks are involved.
• Not a Bank Deposit: Funds held as Stable Tokens in your account are not bank deposits, and Globnk is not a bank. Stable Tokens do not benefit from any government deposit insurance (e.g., they are not FDIC-insured, not covered by a Bank Guarantee Fund in Poland, etc.). They are backed by assets as described in our program, but there is a risk (however small) that those backing mechanisms could fail beyond Globnk’s control. By using the service, you accept this risk. Globnk’s obligation is to redeem Stable Tokens for the corresponding fiat as long as Globnk remains solvent and the banking partners hold the reserves; this is a contractual obligation under these Terms.
• Indemnification: You agree to indemnify and hold Globnk harmless for any losses, expenses, or damages arising out of your violation of these Payment Terms, including any misuse of the Platform or violation of law. For example, if you use your account to attempt fraud and it causes Globnk to incur legal penalties or costs, you may be held responsible for those costs.

8. Changes and Termination of Payment Services:
   Globnk may modify these Payment Services Terms as needed (following the procedure in the General Terms “Updates” section). Additionally:

• Feature Changes: We may add, alter, or remove features of the payment service. For instance, we might introduce new types of Stable Tokens, or discontinue support for a particular fiat currency if our banking partner support changes. We will notify affected users in advance when a significant feature is changed or removed.
• Termination or Suspension: We reserve the right to suspend your access to payment services if you breach these Terms or we suspect your account is compromised or involved in illicit activities. We may also terminate the payment services or a portion thereof for all Users if required (for example, if laws change making the service nonviable, or if we choose to discontinue the Stable Token program). In such case, we will provide notice and, where possible, allow Users a period to redeem remaining Stable Tokens to fiat.
• User-Initiated Closure: You may stop using the payment services at any time. If you choose to close your Globnk account, any remaining Stable Tokens will be converted to fiat and returned to you (subject to satisfying any verification requirements and settlement of any fees or obligations).
• Survival: Even after termination of these services or closing of an account, certain provisions survive (for example, record-keeping, any outstanding obligations you owe, and liability limitations for actions taken while the Terms were in effect).

9. Governing Law and Disputes:
   These Payment Services Terms are governed by Polish law, similar to the General Terms. Any dispute specifically arising out of these Payment Terms shall be handled in accordance with the dispute resolution and jurisdiction clauses of the General Terms (Polish courts having jurisdiction, etc.), unless otherwise required by a mandatory law.
10. Contact Information:
    For any queries related to payment services, Stable Tokens, or transactions on the Platform, you can contact Globnk at support@globnk.com. We will assist you with any concerns such as transaction status, reporting technical issues, or clarifying these Terms. Please reference your User Account or transaction ID where applicable to help us assist you more efficiently.

Last Updated: March 14, 2025

API Access & Data Usage Agreement

Introduction:
This API Access & Data Usage Agreement (“API Agreement”) governs your use of Globnk’s Application Programming Interface (“API”) and any related data integration services. Globnk may provide APIs to allow Users (particularly business clients) to integrate their own systems with the Globnk platform for purposes such as initiating transactions, retrieving account information, and enabling compliance-related data sharing. By registering for API credentials or using Globnk’s API, you (the “Client” or “User”) agree to the terms of this API Agreement, in addition to the General Terms of Use and any other applicable terms. If you do not agree to these terms, you are not authorized to use the API.

API License and Purpose:
Globnk grants you a limited, non-exclusive, non-transferable, revocable license to access and use our APIs solely for your internal business purposes in connection with Globnk’s services. Permitted uses of the API include:

• Financial Transactions Integration: You may use the API to initiate or request financial transactions on the Globnk platform, such as creating payment orders (e.g., initiating wire transfers or internal Stable Token transfers), requesting currency conversions, checking exchange rates, and utilizing other Globnk financial products programmatically. For example, instead of manually using the Globnk web interface to send a payment, a merchant can integrate the API to automatically instruct a payment from their Globnk account when a sale happens on their e-commerce site.
• Account Information Retrieval: The API may provide endpoints to retrieve account balances, transaction history, statements, or other analytical data related to your Globnk account. This allows you to sync Globnk data with your own systems (e.g., for accounting or treasury management purposes).
• Automation and Efficiency: The API is designed to help Globnk clients (especially businesses like digital brands, affiliates, or platforms) automate their interactions with Globnk. This can include automating payouts to multiple recipients, reconciling incoming deposits by fetching data, or converting currencies in bulk.
• Compliance Data Integration: A unique aspect of Globnk’s API offering is the ability to connect or transmit compliance-related data. With your authorization, the API can be used to feed Globnk with relevant information from your systems – for instance, details about the underlying source of funds for a transaction, invoice or order IDs, customer info for a payment, or industry-specific metadata that explains the nature of transactions. This data helps Globnk assess transactions for regulatory compliance (source of funds verification, monitoring for high-risk industries, etc.) and provide you with a smoother service (potentially reducing the need for manual compliance checks since Globnk “already knows” the context of each payment).

All usage of the API must be in service of legitimate tasks related to your use of Globnk’s financial services. You may not use the API for any activity that you could not do manually via the platform under the General Terms. Any misuse of the API or use of the API for unrelated purposes (for example, using the API to scrape data you have no right to access, or to operate a service for third parties without permission) is prohibited.

Access Credentials and Security:
To use the Globnk API, you will need API access credentials (such as an API key, secret, OAuth token, or similar mechanism provided by Globnk). You agree to the following security rules:

• Credential Confidentiality: You must keep your API credentials secure and confidential. Do not embed them in client-side code, public repositories, or anywhere that could expose them to unauthorized parties. Treat API keys like passwords. If you believe any API credential has been compromised, you must regenerate/replace it if possible and notify Globnk immediately so we can disable the old credentials.
• Authorized Use Only: All calls to the API must be authenticated with your credentials. You are responsible for all actions performed with your API credentials. Globnk will consider any request signed with your valid credentials to be authorized by you. Do not share your credentials with any third party unless necessary for your own system integration, and if you do, you remain responsible for any use by that third party.
• API Documentation and Policies: Follow the usage guidelines and rate limits as described in Globnk’s API documentation (which will be provided to API users). This includes adhering to any maximum request rates, not making unnecessarily repetitive calls, and using efficient queries. Globnk may throttle or temporarily block API access if usage exceeds reasonable levels or appears to threaten the stability of our platform.
• Security Measures: Implement industry-standard security measures in your integration. For example, use TLS/HTTPS for all API requests to ensure data is encrypted in transit. If the API uses webhooks (callbacks from Globnk to your server), you should secure your endpoints and verify signatures if provided, to ensure the incoming data is truly from Globnk. Both Globnk and the Client should maintain up-to-date security practices to prevent data breaches.
• Testing: Use any provided sandbox or test environment for testing your integration whenever possible. Do not test with real data in the production environment in ways that could trigger unintended transactions or compliance flags.

Permitted Data Use and Privacy:
When you use the Globnk API, data will be exchanged between your systems and Globnk. This section describes how data can be used by both parties:

• Data You Retrieve (From Globnk to You): You may retrieve certain data from Globnk via the API, such as your transaction records, balances, or possibly aggregated industry metrics if offered. You agree that this data is for your internal use to operate and manage your business. All data provided by Globnk remains Globnk’s or its clients’ intellectual property. You must handle any personal data retrieved (for example, names or details of payees) in compliance with applicable privacy laws (e.g., GDPR if in Europe). You should not share Globnk-provided data with unauthorized parties or use it to build competitive services. If you store Globnk data on your systems, you must secure it and delete it if you no longer need it.
• Data You Send (From You to Globnk): By using the API, you might send data to Globnk, beyond just transaction instructions. This can include compliance and context data such as: order or invoice numbers, descriptions of what a payment is for, URLs or IDs from your marketing/affiliate tracking systems that show the source of funds, information about your end customers (if you are paying out to individuals), or analytics data that helps identify the nature of transactions. For example, an affiliate marketing platform client might integrate their tracking system with Globnk so that each incoming payment to the client’s Globnk account is tagged with the campaign or affiliate source, allowing Globnk to see “this $500 is earnings from Campaign X for Advertiser Y”. You represent and warrant that you have the right to share all data that you send to Globnk via the API, and that doing so does not violate any third-party privacy policies or data protection laws. If required, you must obtain consent from your customers to share their data with Globnk for these purposes.
• Use of Client-Provided Data: Globnk will use the data you provide via the API strictly for the purposes of providing our services to you and fulfilling our legal/regulatory obligations. Specifically, data such as source-of-funds details, transaction context, and industry information will be used to perform risk assessments, comply with AML/KYC regulations, and ensure your transactions are processed without unnecessary holdups. For instance, if Globnk “already knows” the reason and source of a payment (because you provided metadata via the API), we can more easily approve the transaction without reaching out for clarification, as long as everything appears compliant. We may also use the data to enhance our services, e.g., providing you with richer reports (“each payment is explained in your tracking tool”, as our platform offers). Globnk will not use data you provide about your customers or business for marketing to third parties or for any purpose outside of compliance and servicing your account, unless expressly permitted by you or required by law. We also will not share your proprietary data with other clients.
• Data Protection: Both Globnk and the Client agree to handle personal data received through the API in accordance with applicable data protection laws (such as the EU General Data Protection Regulation – GDPR, if relevant). Globnk’s handling of any personal data you send will be governed by our Privacy Policy and this Agreement. In brief, we will implement appropriate technical and organizational measures to protect personal data, and you must do the same on your side. If there is a data breach on either side that affects data exchanged via the API, the party experiencing the breach should promptly notify the other with sufficient details to meet any legal reporting obligations and to cooperate on required actions.
• Client Systems Access: In some cases, Globnk’s integration might involve Globnk accessing certain client systems or tools (with your permission). For example, you might integrate Google Analytics, an e-commerce platform, or another tracking system with Globnk. If Globnk is given access (read-only or via an API token you provide us) to some of your systems to pull data for compliance or reconciliation, Globnk will access and use such external system data only for the agreed purpose. We will treat any credentials you provide to access your systems with confidentiality and will not share them or use them beyond what is necessary. You can revoke Globnk’s access at any time, though doing so might impact the level of automation or convenience in compliance processes.

Acceptable Use and Restrictions:
To maintain system integrity and compliance, you agree to a few additional restrictions on API use:

• No Reverse Engineering: You will not reverse engineer, decompile, or disassemble Globnk’s API or any of our software. You will not attempt to derive source code or any underlying trade secrets from the API.
• No Abuse or Interference: You will not use the API in a manner that disrupts or degrades Globnk’s services for other users. This means you should not overload the API with unreasonable request volumes (beyond documented limits) or perform actions that might spam the system (e.g., repeatedly creating and cancelling transactions to game some system). If we detect abuse, we may suspend your API access to protect the platform.
• No Circumvention: You will not attempt to circumvent any security measures or usage limits that Globnk has placed on the API. This includes creating multiple accounts to exceed rate limits or using proxies to hide request origins.
• Proper Attribution and Non-Misrepresentation: If your application or website uses Globnk’s API, any use of Globnk’s names, logos, or trademarks must comply with our branding guidelines (we may provide separate branding guidance). You must not misrepresent to your users how you are using Globnk or what Globnk is – for example, not implying that Globnk is your own service, or that Globnk endorses your application without permission. If you display data obtained from Globnk, you should attribute it where appropriate (unless otherwise agreed, e.g., internal systems don’t need to show “data by Globnk” but if it’s a public interface, you might need to note the source).
• Compliance with Laws: You will not use the API in any way that causes Globnk to violate laws. For example, if you are using the API to move money, you must ensure those transactions are lawful and within the scope of what Globnk’s platform allows. If you are subject to sector-specific regulations (say, you’re a financial institution using our API), it’s your responsibility to comply with any rules that apply to you beyond our platform (though we both share responsibility for common compliance like AML where data is shared).
• Monitoring and Audit: Globnk reserves the right to monitor your API usage for security, performance, and compliance purposes. This means we might log API calls and examine them if needed. In rare cases, Globnk may request an audit of your use of the API (for example, if required by a regulator to ensure that our client integrations also meet standards). You agree to reasonably cooperate in demonstrating that your use of the API and handling of data is compliant with this Agreement and relevant laws.

Intellectual Property Rights:
All right, title, and interest in and to the Globnk API (including all software, code, algorithms, documentation, and data provided by Globnk) are and will remain the exclusive property of Globnk and its licensors. This API Agreement does not grant you any ownership of Globnk’s intellectual property. It only grants you a limited license to use the API as described.

• You are free to write your own application or integration that calls the API. You own the code of your integration, but not the underlying API itself.
• Any feedback or suggestions you provide to Globnk regarding the API may be used by Globnk to improve our services, and we will not be obligated to pay you for such feedback (i.e., consider that feedback as contributed without restriction).
• If this Agreement is terminated, you must cease using the API and delete any persistent copies of Globnk’s API specifications or documentation that are not publicly available (excluding any data you retrieved during legitimate use, which you may retain if needed for legal or record-keeping purposes and handle per the data use guidelines above).

Liability and Warranties (API-specific):
Using the API involves complex interactions between systems, and issues can arise. This section clarifies the responsibilities:

• No Warranty: Globnk provides the API “as-is” and makes no guarantees that it is free of errors or vulnerabilities. We do not warrant that the API will be available uninterrupted or that it will meet your specific needs. There may be times when the API is down for maintenance or experiences outages beyond our control. We will strive to maintain a high uptime and fix bugs that arise, but we disclaim warranties to the fullest extent permitted by law regarding the API and any data provided through it.
• Limitation of Liability: Globnk’s liability for any damages arising from API use is limited in line with the limitations stated in the General Terms of Use (see Limitation of Liability section there). In particular, Globnk will not be liable for indirect or consequential damages resulting from your use of or inability to use the API, such as lost profits, lost data, or business interruption. If, notwithstanding this limitation, Globnk is found liable for any claim related to the API, our aggregate liability shall not exceed a reasonable amount (for example, a few hundred euros or an amount equivalent to fees you’ve paid specifically for API access, if any). Some jurisdictions do not allow certain liability limitations, so some of these limitations may not apply to you fully.
• Your Liability: You agree to indemnify and hold Globnk harmless from any third-party claims or losses (including government fines) that arise due to your misuse of the API or violation of this Agreement. For example, if you use the API in a way that breaches data protection laws and a third party (or regulator) seeks action against Globnk for it, you will cover Globnk’s losses and expenses to the extent that your actions caused the issue.
• No Misuse of Data: Globnk shall not be responsible for what you do with the data retrieved via the API, beyond our obligations to provide it correctly. If you misinterpret or mishandle that data, that’s on you. Conversely, as long as Globnk uses data you provide solely as permitted, we expect that you won’t have grounds to claim we misused your data (and any such claim would be limited by our compliance obligations and the terms of this Agreement).

Termination of API Access:
Either party may terminate this API Agreement as follows:

• By You: If you no longer wish to use the API, you may stop using it at any time. You should inform Globnk so we can deactivate your API credentials for security. Termination of API use does not automatically close your Globnk account (you’d need to do that separately if desired), it just means you won’t call the API anymore.
• By Globnk (for Convenience): Globnk reserves the right to discontinue or suspend the API program or your specific access to it, for any reason with 30 days’ notice (or shorter, if required by circumstances such as security issues or legal compliance). We might do this if we decide to retire the API or replace it with a new version. In case of a planned discontinuation, we will attempt to provide you with advance notice so you can adjust.
• By Globnk (for Breach or Risk): If you violate any term of this Agreement or we believe your API usage poses a security or legal risk, Globnk can immediately suspend or terminate your access without prior notice. We will typically attempt to contact you about the issue and perhaps give an opportunity to cure a remediable breach, but for severe violations, immediate termination might be necessary (for instance, if your credentials are compromised and being used maliciously, we’d cut it off first and discuss later).
• Effect of Termination: Upon termination, you must cease all API calls and use of Globnk’s API. Destroy any sensitive information like API keys in your possession. Any data you have obtained and stored under this Agreement should be handled according to the continuing obligations (you may retain business records but must continue to protect any personal data, etc.). Sections relating to intellectual property, confidentiality, liability, and any other clauses that by their nature should survive termination will survive. Your Globnk account can still be used via other means (web interface) unless it was separately terminated.

Confidentiality:
In using the API, you might receive confidential information of Globnk (for example, non-public aspects of the API, documentation marked confidential, or data that is not meant to be public). Likewise, Globnk might receive confidential information about your business through integration. Both parties agree to keep such information confidential and not to disclose it to outside parties except as permitted. Specifically, treat any non-public technical or business information obtained through the API as confidential. This obligation does not cover information that is already public (through no breach of this Agreement), independently developed, or rightfully obtained from others without confidentiality duty. If required by law or regulation to disclose confidential information (e.g., a court order), a party will, if legally allowed, give notice to the other to allow an opportunity to seek protection for the information.

Additional Compliance and Regulatory Matters:
Because the Globnk API deals with financial transactions, certain regulatory requirements may apply:

• Audit Trail: Globnk maintains logs of API calls which may include what transaction was done and associated data. This helps in creating an audit trail for compliance (for example, tracking which deposits and withdrawals were automated and what data was attached). These logs are maintained per regulatory record-keeping requirements for financial services (often 5+ years). Globnk protects these logs as per our privacy and security policies, and will only share them with authorities if legally compelled or necessary for compliance audits.
• Regulatory Changes: If laws change (for example, a new data protection law, or a new fintech regulation that requires a certain behavior), Globnk may update this API Agreement or the functioning of the API to ensure compliance. We expect you to cooperate in making any necessary changes on your side. For instance, if regulators mandate additional data with each transaction (say, a purpose code or beneficiary ID for tracing), we might require you to provide that via the API for relevant transactions. We will communicate such needs clearly.
• Location of Data Processing: Depending on where Globnk’s systems are hosted, API data (which includes personal data) might be processed or stored on servers in certain jurisdictions. Globnk ensures that any cross-border data transfers are done in compliance with laws (using measures like standard contractual clauses for EU personal data, etc.). By using the API and providing data, you acknowledge that data may be processed in these locations. Our Privacy Policy provides more details on this.
• Client’s Regulatory Status: If you (the client) are a regulated entity (for example, a financial institution or a public company), you are responsible for ensuring that integration with Globnk via API meets any requirements you have (such as vendor due diligence, specific security audits, etc.). Globnk will reasonably assist with providing information needed for your compliance (to the extent not protected confidential info of others). For instance, if you need to ensure Globnk’s system meets certain security standards, we can share our certifications or answer questionnaires under NDA.

Amendment and Updates:
Globnk may update this API Access & Data Usage Agreement from time to time. We will notify API users of changes, for example by email or through the developer portal, especially if the changes are material (e.g., changes in data usage rights or obligations). Continued use of the API after the effective date of an update constitutes acceptance of the new terms. If you do not agree to a change, you should stop using the API. In some cases (like changes required by law or new features), we might not be able to accommodate older versions, and you may need to update your integration to comply with the new terms or APIs.

Governing Law:
This API Agreement is governed by the same law as the General Terms (laws of Poland, unless otherwise specified in a separate writing). Any disputes specifically arising from API use will be handled in accordance with the dispute resolution provisions of the General Terms, unless a separate arbitration or other mechanism is mutually agreed for developers (not anticipated at this time).

By using the API, you acknowledge that you have read and understood this Agreement and agree to be bound by it. Always use the API responsibly and feel free to reach out to Globnk for any clarifications or support in using our developer tools.

Last Updated: March 14, 2025

Rewards & Interest Terms

Introduction:
Globnk may offer a rewards program or interest-bearing feature for Users of its platform (“Rewards Program”). These Rewards & Interest Terms (“Rewards Terms”) explain how any token rewards, bonus incentives, or interest-like earnings operate on the Globnk platform. Participation in any Rewards Program is optional and is subject to both these Terms and any specific commercial terms provided to you when you become eligible for rewards. By utilizing an account or product that includes rewards or interest features, you agree to these Rewards Terms. If you do not wish to participate in rewards or interest earnings, you may choose an account type or settings that opt out or simply not meet the criteria.

Eligibility for Rewards/Interest:
Not all Globnk clients will qualify for earning rewards or interest on balances. Eligibility is determined based on specific criteria and commercial terms, which will be communicated to you either at the time of account opening or when you enroll in a particular product offering. Key points include:

• Account Type: Some account types or products include reward accrual, while others do not. For example, a standard individual account might have access to interest on stable token balances, whereas a basic business account might only have transactional functionality with no interest, unless they opt into a premium feature.
• Commercial Terms Agreement: If you are eligible for interest or rewards, the exact rates and conditions will be set out in a Commercial Terms Appendix or Schedule provided by Globnk (which may be part of your onboarding documents or a product-specific addendum). That appendix will list the applicable annual interest rate, reward percentages, any tiers or volume requirements, and how the rewards are calculated. For instance, it might say you will earn a 2% annual rate on USD Stable Token average balances, paid monthly. You might be required to sign or acknowledge these specific terms separately.
• Minimum Requirements: Globnk may impose certain minimum requirements for earning rewards. This could include maintaining a minimum balance, using a particular product (e.g., using our multi-currency wallet actively), or being a customer in good standing for a certain period. Any such requirements will be disclosed in the commercial terms. If you do not meet the requirements, you may not earn rewards even if your account would otherwise be eligible.
• Exclusions: Regulatory or policy constraints might exclude certain users or jurisdictions from the Rewards Program. For example, if you are in a country where paying interest on crypto assets is not allowed, Globnk will not offer this feature to you. Additionally, employees of Globnk or related parties might or might not be eligible depending on internal policy.

How Rewards/Interest Accrue:
If your account qualifies for rewards, Globnk will calculate and apply them as described in your commercial terms. General characteristics of the reward system are:

• Type of Reward: Rewards are typically paid in-kind as tokens. This means that if you are earning interest on Stable Tokens, the reward will likely be additional Stable Tokens (or a designated reward token) credited to your account, rather than cash deposited to a bank account. For example, interest on USD Stable Token balance would be paid in USD Stable Tokens to your Globnk wallet. If a separate reward token is used, you would see that token added, which could then potentially be converted to Stable Tokens or fiat.
• Rate and Calculation: The annual interest rate or reward rate applicable to your balances will be specified in the Commercial Terms Appendix. The calculation method (simple vs. compounding) will also be specified. Commonly, interest is calculated on a daily average balance and credited monthly. For instance, Globnk might calculate your average end-of-day balance of Stable Tokens for each day of the month, compute the daily interest (annual rate/365 * balance), sum those up for the month, and credit the total at month-end. Alternatively, some rewards might be credited daily (daily compounding). The frequency of crediting (daily, weekly, monthly) will be in your specific terms.
• Caps or Tiered Rates: There may be a cap on the maximum balance that earns rewards or tiered interest rates for different balance levels. E.g., “Balances up to $100,000 earn 1% APY, balances above that earn 0.5%” – such structures could be applied and would be detailed in the appendix.
• No Guaranteed Returns: While Globnk may quote expected or target reward rates, these are not guaranteed and can change (see “Changes to Terms” below). The program’s intention is to distribute tokens at the specified rate, but factors like market conditions, regulatory changes, or Globnk’s business discretion can result in adjustments. The rates provided in the appendix are current at the time of disclosure and subject to revision as allowed by these Terms and the appendix conditions.
• Example (for illustration only): If your agreement says 3% per annum on USD Stable Token, and you hold 10,000 tokens on average for a full year, you might expect roughly 300 tokens as interest over the year (before any compounding effects). If interest is paid monthly, you’d get about 25 tokens per month, which would itself start earning interest once credited, and so on. Actual computation may vary.

Conditions and Limitations:
Globnk’s Rewards Program comes with certain conditions:

• Compliance and Good Standing: Your account must be in good standing to receive rewards. This means you are not in violation of any Terms, and your account is not flagged for suspicious activity. If your account is suspended, under investigation, or you have materially breached any agreements, Globnk may pause or forfeit reward accrual during that period. For example, if you fail to comply with an information request for KYC review, we might stop paying interest until the issue is resolved.
• No Double Dipping: If Globnk offers multiple promotions, you may not be able to combine them unless explicitly allowed. For instance, if there’s a special promotional rate for a limited time, it might replace the standard rate for that period rather than stack on top of it. We will clarify if any special promotion affects your base rewards.
• Non-Transferable Benefit: The ability to earn rewards is attached to your Globnk account and cannot be transferred or sold. If you close your account or move funds out, you cannot “take the future interest with you” beyond what has already accrued. Similarly, you cannot transfer the reward program to another user.
• Withdrawal of Funds: You remain free to use and withdraw your funds at any time, but note that doing so might affect the interest calculation. For example, if you withdraw a large portion of your balance before an interest payout date, you will earn interest only on the time and amount the funds were actually in your account. Globnk will not pay interest for any day after funds have been withdrawn (naturally). Additionally, if you withdraw all funds and close your account mid-cycle, any interest accrued but not yet paid out may be forfeited unless otherwise specified. Globnk may specify a minimum accrued amount needed to trigger a payout (for example, if the accrued interest is less than a few cents worth, it might roll over or not be paid until a threshold is met).
• Taxes on Rewards: Any tokens or interest you earn through Globnk’s Rewards Program may be considered taxable income under the laws of your jurisdiction. It is your responsibility to track and report such earnings to the appropriate tax authorities. Globnk may provide annual statements of rewards earned (or you can export transaction histories), but we do not withhold taxes on these rewards unless required by law. Please consult a tax professional if you are unsure of the tax implications of receiving crypto-based rewards or interest.

Changes to Rates or Program:
Globnk reserves the right to modify or terminate the Rewards Program at any time, in accordance with applicable regulations and your contract:

• Notice of Changes: If we change the standard reward/interest rates or any significant feature of the program, we will give you advance notice. For example, if the rate is being lowered or the program is being suspended, we might notify you via email or in-app message 14 days before the change takes effect (the notice period could vary based on the situation and legal requirements). In cases where market conditions dictate an urgent change (e.g., an extreme event in financial markets or new law that immediately caps interest rates), we will explain the change as soon as possible.
• Market Condition Adjustments: The rewards offered are often linked to what Globnk can earn on the underlying assets (for instance, if Globnk holds your fiat deposits in secure accounts or low-risk investments like government bonds, the yield from those might fund the rewards). If market interest rates fall or rise significantly, Globnk might adjust your reward rates correspondingly. These Terms allow such adjustments, and the Commercial Terms Appendix might state that the rate is variable.
• Regulatory Changes: If laws or regulations (such as new crypto-asset laws or banking regulations) restrict or prohibit Globnk from offering interest on digital asset balances, Globnk may have to reduce or eliminate the Rewards Program for affected users. We will do so to comply with the law. For instance, if a regulator said “stablecoin issuers cannot pay interest to consumers” in our jurisdiction, we would stop accruing interest from the effective date of that rule. Any earned rewards up to that date would presumably still be honored unless the law says otherwise. We will always act in a manner compliant with the law and transparent to you.
• Program Termination: Globnk may decide to end the Rewards Program for business reasons. If so, we will notify you and, if applicable, credit any prorated rewards that have accrued up to the termination date. After termination, no new rewards will accrue. We might replace it with a different program or none at all.
• Your Options: If you do not agree to a change in the Rewards Terms or rates, your remedy (if the change is not favorable) is typically to discontinue using the reward-featured product. For example, you could withdraw your funds or ask to switch to a non-interest account (if one exists). Continuing to hold funds in an interest-bearing account after a rate change signifies acceptance of the new rate.

No Bank Guarantee; Risk Disclosure:
While Globnk strives to reward users as a perk, it’s important to understand this is not a traditional bank savings account:

• Not Deposit Insurance: Funds in your Globnk account (including any interest-earning Stable Tokens) are not covered by deposit insurance schemes. The Rewards Program is a commercial arrangement, not a guaranteed entitlement backed by any government. You assume the risk of Globnk’s performance. Globnk’s ability to pay rewards depends on its underlying business model (such as earnings on reserves or our promotional budget).
• Volatility and Value: If rewards are paid in a token that is pegged to fiat (like our Stable Token), then 1 token is intended to equal 1 unit of fiat. If rewards are paid in a separate token that might float in value, the value of your rewards could fluctuate. (At present, Globnk’s model is to pay in Stable Tokens or equivalent, so this may not be a concern. If we ever offered a different reward token, we’d disclose its nature.)
• No Compound Guarantee: If interest is paid in tokens, those tokens, once credited, will start earning interest as well if left in the account (i.e. compounding). However, if rates change, the future compounding will reflect the new rates. There is no guarantee that rates will stay high for a long period. They could be promotional and later reduced.

Specific Product Terms:
Globnk may have different reward schemes for different products. For example:

• A multi-currency wallet might earn interest on USD balances but not on crypto balances (or vice versa).
• We might have a referral reward program where if you refer someone, both of you get a one-time token bonus. That would be governed by these Terms in general but also have specific rules (like one reward per referral, conditions on the referred user’s activity, etc.).
• If we issue “debt tokens” or similar instruments to represent an advance or loan (see Advance Payments & Risk Assessment Policy), those might not earn interest in the same way, since they are themselves a form of credit to you. Instead, they might incur interest (you paying interest rather than earning) – which would be described separately under the Advance Payments Terms. The context here is on rewards for positive balances or usage.

In any case where a product has a bespoke interest or reward structure, the Commercial Terms Appendix at account opening or product enrollment will outline those specific details and how they differ from or add to these general Rewards Terms.

Opt-Out and Flexibility:
If you prefer not to receive any rewards (perhaps due to compliance reasons on your side or other preferences), please contact Globnk support. In some cases, we might be able to provide an account setting that turns off rewards for you. Otherwise, you can simply refrain from using the features that generate rewards. There is no penalty for not participating; you just won’t earn the extra tokens.

Changes to These Terms:
Changes to the Rewards & Interest Terms will follow the process in the General Terms’ update clause. We reiterate that these Terms are designed to be flexible to allow Globnk to adapt to market and regulatory changes. However, any material changes will be communicated, and if you find them unacceptable, you have the right to stop using the service (though we hope to continue to earn your business by providing value).

Governing Law:
These Rewards Terms are part of your agreement with Globnk and are governed by the same law (Polish law) and jurisdiction as stated in the General Terms, unless otherwise specified in a separate addendum.

Last Updated: March 14, 2025

Advance Payments & Risk Assessment Policy

Introduction:
Globnk may offer an “Advance Payments” service to certain qualified clients. Advance Payments refer to Globnk providing you access to funds ahead of their normal settlement schedule or providing a short-term credit based on anticipated incoming payments or your financial profile. This Advance Payments & Risk Assessment Policy outlines how eligibility for advances is determined, the conditions under which advances are granted, and how Globnk manages risk associated with this service. By using or accepting an advance payment from Globnk, you agree to these terms. If you do not agree, you should not request or utilize any advance or credit feature from Globnk.

What is an Advance Payment?
An Advance Payment is essentially Globnk extending funds to you that you are expected to receive in the near future or as a form of short-term financing. For example, if you are an influencer or affiliate expecting a payout from a platform at the end of the month, Globnk might “advance” you that amount (or a portion of it) earlier, crediting your Globnk account now, and then recouping the advanced amount when your actual payout arrives. Another scenario: Globnk might allow a business with regular cash flows to access a line of credit or early settlement of transactions before the standard clearing date. These advances are not guaranteed and are provided at Globnk’s discretion, typically to help our clients with cash flow or immediate liquidity needs.

Eligibility Criteria:
Eligibility for Advance Payments is determined through a holistic risk assessment of your profile. Globnk evaluates several factors, which may include (but are not limited to):

• User Profile and Tenure: Your history with Globnk – how long you have been using our platform, and how you have managed your account. New users will generally not qualify for advances until they have built a track record. Established clients who have demonstrated responsible use are more likely to be considered.
• Transaction History: We look at the volume and consistency of transactions in your account. If you have regular incoming deposits and withdrawals (e.g., monthly payouts from known companies, steady sales receipts, etc.), this steady history can support eligibility. Globnk will examine metrics like average monthly credits, growth trends, and any instances of chargebacks or reversals. A history free of returned transactions or disputes is favorable.
• Industry and Business Model (Industry Risk): The nature of your industry significantly influences risk. Certain industries are considered higher risk for advances due to volatility or regulatory issues (for example, online gambling, adult entertainment, new high-risk crypto ventures might be riskier). More traditional or stable industries (e.g., a marketing agency receiving client transactions, an e-commerce seller with consistent orders) might be seen as lower risk. Globnk will assess how predictable and secure your revenue streams are. If your funds come from a small set of reputable companies, that may be lower risk than funds from many unknown individuals.
• Compliance Standing: Your compliance record with Globnk matters. If you have always promptly complied with KYC/AML requests, kept your information current, and have had no suspicious activity reports or investigations, that’s positive. If there have been any issues (like past account freezes due to verification delays, or investigations into certain transactions), we might either deny advances or require those issues fully resolved first. Essentially, a user who is fully verified and transparent is more likely to be trusted with an advance.
• Creditworthiness (External Data): Globnk might also use external data or credit scoring (where available) to assess you or your business’s creditworthiness. For individuals, this could be a soft check on credit history if applicable. For companies, it might include looking at financial statements (if provided), public credit ratings, or requiring references. We may also consider collateral or personal guarantees if such arrangements are part of a bespoke advance agreement (though generally, our advance is unsecured and based on anticipated transactions).
• Account Balance and Asset Holdings: If you maintain a significant balance with Globnk or have other assets (like cryptocurrency) in your account, Globnk might be more comfortable advancing funds since there is something to potentially offset against. For example, if you regularly keep €50,000 in your Globnk wallet, an advance of €5,000 is relatively low risk to us. Conversely, if your balance is usually near zero, any advance is purely against future income, which we will scrutinize.
• Purpose of Advance: We may ask why you need the advance (especially for larger or one-time requests). If the purpose is in line with normal business (e.g., bridging a short gap in cash flow, or investing in a project pending an incoming payment), that’s fine. If it were for something outside the scope of your usual activity, we might be more cautious. This also helps us ensure funds aren’t being taken for purposes that conflict with our compliance policies.

It’s important to note that meeting some or all of these criteria does not guarantee approval for an advance. These are simply factors we consider. The final decision involves an overall risk judgment by Globnk’s risk management team or algorithm.

Assessment and Approval Process:
When you request an advance (or if Globnk offers you one proactively), here’s what typically happens:

• Application or Offer: You might apply for an advance through the platform (providing requested details), or Globnk might notify you that you are pre-qualified for a certain advance amount based on our analysis.
• Data Review: Globnk will review your recent account activity and perhaps request additional documentation. For instance, if you request an advance against an invoice or expected payout, we might ask for a copy of that invoice or proof of the upcoming payment (like a screenshot of your affiliate dashboard showing pending earnings).
• Amount Determination: If approved, Globnk will determine an approved advance amount and any applicable fee or interest. The amount will usually be a fraction of the expected payment or a conservative portion of what we believe you can repay. For example, if you average €10,000 monthly revenue, we might cap an advance at €5,000 to ensure you’ll have enough incoming to repay.
• Agreement: Before receiving the advance, you may need to accept a short supplemental agreement (which could be as simple as clicking to accept terms) outlining the amount, the repayment terms, any fee/interest, and other conditions. This agreement will incorporate this policy by reference.
• Disbursement: Once agreed, Globnk will credit the advance funds to your Globnk account, usually as Stable Tokens or credited balance. You can then use those funds like any other balance (send deposits and, convert to fiat and withdraw, etc., subject to the agreed terms). The date of this disbursement and the amount will be recorded.
• Repayment Mechanism: Typically, when the expected incoming funds arrive to your Globnk account, we will automatically take the portion that was advanced (plus any fee if applicable) to settle the advance. For example, if we advanced €5,000 and later that month you receive a €7,000 payment from a client, Globnk might automatically deduct €5,100 (assuming a €100 fee) from that incoming amount to repay itself, and credit you the remainder. This process will be transparent on your statement (you’d see a debit for advance repayment). If the incoming payment is less than expected or multiple smaller transactions come in, we might take a percentage of each until the advance is fully repaid. Details of how exactly it’s structured will be given – sometimes it’s a one-time sweep, other times it could be a daily percentage of sales until a target is met, depending on the product design.
• Repayment Deadline: If the expected funds do not arrive by a certain date, or if they are insufficient to cover the advance, you will be required to repay the remaining balance of the advance by a specified deadline. Globnk may allow a grace period, but generally, advances are short-term (often meant to be repaid within 30, 60, or 90 days at most, depending on arrangements). If repayment does not occur via incoming funds, you must find other means (depositing additional money into your Globnk account or otherwise settling the amount).
• Cost of Advance: Globnk may charge a fee or interest for providing the advance. The structure could be one of: a flat fee (e.g., pay X% of the advance as a fee upon repayment), an interest rate accruing over the duration (e.g., if not repaid in 30 days, interest at Y% per month applies), or even a discount mechanism (like we advance slightly less than the amount we expect to get back). The commercial terms for your advance will spell this out. We aim to make these costs clear and reasonable, reflecting the risk and time value of money. If an advance is part of a promotion, sometimes it could even be fee-free, but that would be explicitly communicated.

Risk Management and Changes to Advance Terms:
Globnk’s Advance Payments service is dynamic and risk-based. As such:

• Ongoing Monitoring: After receiving an advance, your account will be more closely monitored by our risk systems. Significant changes in your activity could trigger actions. For example, if after getting an advance your outgoing tranasctions spike in an unusual way or you stop receiving the regular transactions we expected, Globnk might reach out for an explanation or take steps to mitigate risk (like temporarily pausing further advances or freezing some funds until things clarify).
• Changes in Credit Limit: Globnk may adjust the amount of advance you qualify for as your profile changes. If your business grows and transaction history strengthens, we might increase the maximum advance available to you (with notice and perhaps a new agreement). Conversely, if your volume drops or you start missing expectations, we might reduce or suspend the ability to take new advances. These adjustments can be made at Globnk’s discretion based on internal risk models and are generally intended to protect both you and Globnk from over-extension.
• Right to Decline or Cancel: Even if you have an advance arrangement, Globnk reserves the right to decline to provide a new advance at any time, or to cancel a pending advance request, especially if new information comes to light (for example, if we learn that a source of funds you were relying on has defaulted or will not be paying you, we would not advance against it). If we cancel an advance that was already given due to discovered risk (say we found fraudulent behavior after giving an advance), you will need to repay it immediately as per breach conditions.
• Client Initiated Changes: If you realize that your expected funds will be delayed or won’t come, you should inform Globnk as soon as possible. We might work out a revised repayment plan or restructure the advance if the circumstances are genuine (for instance, your client delayed payment by another month). Communication is key; unexpected failure to repay will be viewed very seriously.
• Market Conditions and Company Policy: The availability of the Advance Payments service as a whole may depend on broader factors. Globnk, as a business, allocates a certain amount of capital or reserves to funding advances. If market conditions change (e.g., general credit markets tighten, or Globnk’s cost of funds increases sharply), we may scale back the program or adjust pricing. Likewise, internal company policy might shift: for example, we might decide to focus advances only on certain types of clients or pause offering advances if the default rate becomes too high. We explicitly note that the terms of this service, including criteria and availability, are subject to change based on market conditions and company policies. We will endeavor to communicate major changes to clients who use the service, but some changes might be implemented immediately for new advance requests (for example, we might stop offering advances without prior notice if required).

Client Obligations and Commitments:
If you receive an advance, you have certain obligations:

• Use of Funds: Ideally, use the advanced funds for the business purposes that justified it. This isn’t heavily policed, but from a risk perspective, it’s assumed you’re using it to maintain or grow the operations that will generate the revenue to repay. If you were to use an advance for something completely unrelated (like a risky personal investment), you are still fully responsible for repayment regardless of the outcome of that use.
• Honesty and Transparency: You must be truthful in all information provided to Globnk regarding your eligibility and use of advances. Any misrepresentation (e.g., falsifying an invoice or misleading about your financial situation) is a serious breach and could result in immediate demand for repayment and potential legal action for fraud.
• Repayment: You must repay the advance as agreed. Typically, this is automatic via incoming trancations, but if those don’t materialize, you need to find alternative means. By accepting the advance, you agree that Globnk can offset the amount against any balances in your account or any future incoming transaction. If you have multiple Globnk accounts or affiliated accounts, and if legally permissible, Globnk may offset between them to recover an advance (this would usually be mentioned in the agreement if applicable).
• Costs and Fees: Pay any associated fees or interest for the advance. If these are deducted automatically, ensure your incoming funds cover them. If interest accrues over time (for a longer-term advance or if repayment is late), that will increase what you owe.
• Notification: If circumstances change – for example, if the payment you were expecting is cancelled or significantly reduced, or any event occurs that could impair your ability to repay – you should inform Globnk immediately. Early communication may allow for a renegotiation or solution, whereas silence could lead to account action.
• No Abuse: You should not abuse the advance system. Taking an advance with no intention or realistic plan to repay is fraudulent. Also, using advances to continuously float your business without ever using your own capital could be risky; Globnk is not intended to be a long-term financing solution (it’s more of a bridge). If we detect patterns of potential abuse (like immediately withdrawing advanced funds to external accounts unrelated to your business and never repaying properly), we may cut off the service.

Consequences of Non-Repayment:
While we hope to never reach this situation, it’s important to outline what happens if an advance is not repaid on time:

• Late Fees or Default Interest: If you miss a repayment deadline, Globnk may impose additional fees or default interest as stipulated in your advance agreement. This is to compensate for the extra risk and cost of collection.
• Account Actions: Globnk may freeze or limit your account to prevent further outflows of funds if you have an outstanding advance. For example, we might restrict withdrawals or transfers while the advance is delinquent, effectively holding any new funds to apply toward the balance.
• Collections and Legal Action: The advance is a legal obligation. If you do not repay, Globnk can take legal steps to recover the debt. This could include engaging a collections agency, reporting the default to credit bureaus (which could impact your credit score if applicable), or taking court action to obtain a judgment against you or your business. All reasonable costs of such collection efforts may be added to what you owe, as allowed by law.
• Offsetting Other Assets: If you have other assets with Globnk, we will use them to offset the debt. This includes any cryptocurrency, Stable Token balance, or fiat in your account. We may liquidate assets (e.g., sell crypto at market rates) to generate fiat to apply to your debt, if necessary. We will generally inform you before such action, but in extreme cases of default, we might proceed to secure our exposure.
• Termination of Relationship: A major default will likely result in the termination of your ability to use Globnk’s services. We may close your account once the matter is resolved and choose not to do further business with you. This is obviously a last resort scenario and one we hope to avoid by carefully assessing risk upfront.

Amendment of Policy:
As with all sections of Globnk’s terms, this Advance Payments & Risk Assessment Policy may be updated or amended by Globnk. We emphasize that this program is offered as a courtesy and competitive feature, and it might evolve as we learn from experience and external factors. We will keep the policy flexible to adjust criteria, limits, and safeguards. However, any changes to terms that have a material adverse effect on users who already have an outstanding advance will either not apply to that outstanding advance or will be communicated in a manner consistent with our overall Terms update practices (e.g., with notice if required). For instance, if we decided to increase the fees on new advances, that wouldn’t retroactively apply to an advance you already took under earlier terms.

By participating in the Advance Payments program, you acknowledge that you understand the risks and obligations involved, and that Globnk is extending these advances in good faith reliance on your promise to repay under the agreed conditions. We look forward to helping our qualified users grow and manage their cash flow with this feature, and we will manage the program prudently to ensure it remains available to those who need it.

Governing Law:
This Advance Payments Policy, as part of your agreement with Globnk, is governed by Polish law (as with other Terms) and any disputes will be handled in accordance with the dispute resolution clauses of the General Terms, unless otherwise specified in a separate credit agreement. The word “Policy” in title does not make it any less legally binding; once you accept an advance, these terms and the specific advance agreement have contractual effect.

Last Updated: March 14, 2025