What is a portal account?

A virtual account created for the portal user and managed by the portal administrator for keeping current records on transactions made by the user in the portal and through which the user makes payments related to the transactions. 

The user makes payments to his/her portal account via a bank account of the portal administrator. The portal administrator shows the amount paid to the portal administrator's bank account on the user's portal account at the latest on the next working day after the receipt of the corresponding sum in the  bank account of the portal administrator. 

Regardless of the transfer of money and its existence in the portal administrator's bank account, it is an asset that belongs to portal users and not to the portal administrator. 

The portal administrator does not pay interest to users for the funds held on the portal administrator's bank account. 

The portal administrator makes deductions from the user's portal account for fulfilling the user's obligations arising from the terms and conditions of the portal and from the agreements concluded with other users. As the first priority, the funds on the user's portal account are used to cover the fees and expenses that the user is obliged to pay to the portal administrator. As the second priority, the funds on the user's portal account are used to cover the user's obligations to other users arising from the agreements concluded in the portal. 

The user is entitled to submit to the portal administrator a payment order at any time by using a special portal application, for transferring available funds on his/her portal account to his/her personal bank account that is opened in the user's name in a credit institution operating in a contracting state of the European Economic Area or in a country that fulfills equivalent money laundering and terrorist financing prevention requirements, and from which the user has previously made payments to the portal administrator's bank account. The user can submit payment orders with regard to the funds on his/her portal account only for the amount consisting of full cents. 

The portal administrator is required to execute the proper payment order within one (1) working day, provided that the user has paid to the portal administrator a service fee for the transfer. 

The user cannot make payments to the portal account nor request the disbursement of funds on his/her portal account in cash.

The portal administrator is entitled to close the user's portal account if the user has not been active in the portal for more than six (6) months and the balance of his/her portal account is less than one (1) cent. The amount smaller than 1 cent held on the user's portal account shall not be paid out to the user. 


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