Terms & conditions

Effective 1 June 2026

These terms and conditions (the “Terms”) form a legal contract between you and us. They govern your access to and use of Sezvo — the mobile app, the web app, your account, your cards, savings vaults, payments and transfers, investing, the self-custodial crypto wallet, business accounts, loans, insurance and every other feature we make available. By creating an account, ticking to accept these Terms, or using any part of the service, you confirm that you have read, understood and agreed to them. If you do not agree, please do not open or continue to use an account.

01 · Who we are

Sezvo is a brand of UAB Aušra Pay, a private limited liability company incorporated in the Republic of Lithuania. UAB Aušra Pay is a licensed electronic money institution (EMI), authorised and supervised by the Bank of Lithuania. Our licence permits us to issue electronic money and provide payment services, and we passport these services across the European Economic Area (EEA) under the freedom to provide services.

Our Business Identifier Code (BIC/SWIFT) is OCENLT22, and the accounts we provide use Lithuanian (LT) IBANs. Throughout these Terms, “we”, “us”, “our” and “Sezvo” mean UAB Aušra Pay. “You” and “your” mean the account holder and any authorised user acting on the account.

Sezvo is an electronic money institution, not a bank. The money you hold with us is electronic money (e-money), and it is safeguarded rather than covered by ordinary deposit protection. The difference matters — we explain it in section 06.

02 · Definitions

A few words carry a specific meaning in these Terms:

• Account — your Sezvo e-money account, including any sub-accounts, currency wallets, savings vaults and goals associated with it.
• E-money — monetary value stored electronically, issued by us on receipt of funds, and redeemable at par value.
• Payment instrument — a card, app login, biometric credential or other means you use to instruct a payment.
• Business day — Monday to Friday, excluding public holidays in Lithuania, between 09:00 and 17:00 Vilnius time.
• Cut-off time — the time after which a payment instruction is treated as received on the next business day.
• SEPA — the Single Euro Payments Area scheme for euro transfers; SWIFT — the network for international, often non-euro, transfers.
• Crypto assets — digital assets held through the self-custodial wallet, which are unregulated and volatile.

03 · Eligibility, onboarding & KYC

To open a personal account you must be at least 18 years old, have full legal capacity, and be resident in one of the 160+ countries and territories we serve. Business accounts are available to eligible companies, sole traders and partnerships subject to additional checks. You may hold only one personal account unless we agree otherwise in writing.

We are legally required to know who our customers are. Before we open your account, and from time to time afterwards, we will ask you to complete identity verification (“Know Your Customer”, or KYC). This may include providing your full name, date of birth, address, a government-issued identity document, a selfie or liveness check, your source of funds and the purpose of the account. We carry out checks under applicable anti-money-laundering (AML), counter-terrorist-financing and sanctions laws.

We may decline to open an account, ask for further information, or place limits on your account if we cannot verify your identity, if you appear on a sanctions list, or if opening the account would breach our legal or regulatory obligations. We do not have to give a reason where the law prevents us from doing so. By accepting these Terms you confirm that the information you give us is true, accurate and complete, and you agree to keep it up to date.

04 · Opening & operating your account

Once your identity is verified, we will provide you with a multi-currency current account capable of holding and spending across 28 currencies, together with one or more Lithuanian IBANs for receiving and sending funds. You operate the account primarily through the Sezvo app, secured by your passcode, biometrics and any step-up authentication we apply.

You are responsible for keeping your login credentials, device, PIN and card details secure, and for all activity carried out through your authenticated sessions. You must notify us without undue delay if you suspect your account or any payment instrument has been lost, stolen, misappropriated or used without your authorisation. We may require you to confirm certain instructions through strong customer authentication (SCA) to comply with regulation and to protect you from fraud.

We provide statements and transaction histories in the app. You should review these regularly and tell us promptly about anything that looks wrong. Where we are entitled to, we may set, vary or remove limits on transaction sizes, daily volumes, balances or cash withdrawals for legal, regulatory, security or risk reasons.

05 · How e-money works

When you load funds onto your account — by bank transfer, card top-up or incoming payment — we issue an equivalent amount of electronic money to you. That e-money sits in your account until you spend it, transfer it, or ask us to redeem it back to an external account. E-money does not earn interest simply by being held in your current account; interest is only paid where you place funds into an eligible savings product (see section 11).

You can redeem your e-money at any time, at par value, by withdrawing it to a bank account in your name, subject to any verification and to deduction of any fees properly due. There is no maturity date on your e-money and we do not lend it out for our own account in the way a traditional bank lends customer deposits.

06 · Safeguarding & deposit protection

Because we are an electronic money institution and not a bank, the funds corresponding to your e-money are protected by safeguarding, as required by EMI rules. This means we hold the equivalent value of customer funds separately from our own money — typically in segregated accounts at credit institutions, or covered by an equivalent permitted method. If we were to become insolvent, safeguarded funds would form an asset pool from which your claim would be met ahead of our general creditors.

Safeguarding is not the same as the deposit guarantee scheme that protects bank deposits. Where eligible deposits are held with a participating credit institution, they may be protected up to €100,000 per person under the applicable deposit guarantee scheme. The precise protection that applies to your money depends on the product, how funds are held, and the institution concerned. We will always be clear in-product about whether a given balance is safeguarded e-money or a protected deposit. If you are ever unsure which protection applies, contact our 24/7 support team.

Crypto assets held in the self-custodial wallet (section 09) are neither safeguarded e-money nor protected deposits. They are unregulated, you alone control the keys, and their value can fall as well as rise — potentially to zero.

07 · Payments & transfers

You can move money in several ways:

• Internal transfers between Sezvo accounts are free and usually land in around six seconds, day or night.
• SEPA & SEPA Instant for euro transfers across the SEPA zone — SEPA Instant payments typically settle in seconds; standard SEPA may take up to one business day.
• SWIFT for international transfers in supported currencies, which usually arrive within one to four business days depending on the destination and any intermediary banks.

When you instruct a payment, you authorise it using strong customer authentication. Once authorised and accepted, a payment cannot normally be cancelled. You are responsible for entering the correct IBAN, account number and reference. A payment executed to the unique identifier (IBAN) you provide is treated as correctly executed, even if you also gave us a name that does not match. If a payment goes to the wrong place because of an incorrect identifier you supplied, we will use reasonable efforts to help recover the funds, but we are not liable for the loss.

Cut-off times. Instructions received before the relevant cut-off on a business day are processed that day; instructions received after the cut-off, or on a non-business day, are treated as received on the next business day. SEPA Instant and internal transfers are not bound by business-day cut-offs and run continuously. We may delay, refuse or reverse a payment where we are required to by law, where we reasonably suspect fraud or error, where there are insufficient funds, or where executing it would breach sanctions.

08 · Cards & their use

We issue virtual and physical metal cards linked to your account. Cards remain our property and the property of our card scheme partners at all times, and you must return or destroy a card when we ask. You can add eligible cards to Apple Pay and Google Pay, freeze and unfreeze them instantly in the app, set per-card spending limits, and toggle features such as online, contactless and ATM use.

You must keep your card, card number, PIN and security details confidential and use them in line with these Terms and the law. If your card is lost or stolen, or you suspect unauthorised use, freeze it in the app immediately and tell us. We may decline, suspend or cancel a card to protect you and us from fraud, to comply with scheme rules, or where the account is suspended. Some merchants place temporary authorisation holds that briefly reduce your available balance before the final amount settles.

09 · The self-custodial crypto wallet

Sezvo offers an on-chain, self-custodial crypto wallet across nine networks — Ethereum, Arbitrum, Polygon, BNB Chain, Optimism, Base, Avalanche, Bitcoin and TRON. “Self-custodial” means you, and not us, control the private keys and the assets. We do not hold your crypto, we cannot reverse on-chain transactions, and we cannot recover lost keys or recovery phrases on your behalf.

Crypto assets are unregulated and highly volatile. Their value can move sharply and you may lose your entire investment. Network fees, congestion and irreversible mistakes (such as sending to the wrong address or chain) are your responsibility. Nothing we provide in the wallet is investment advice. Only transact with crypto you can afford to lose.

10 · Foreign exchange (FX)

When you spend or transfer in a currency you do not hold, or convert between your currency wallets, we apply an exchange rate. For most common currencies during market hours we apply the prevailing interbank rate; a small, transparent fee may apply outside standard hours, at weekends, or above any fair-usage thresholds shown on our pricing page. Exchange rates fluctuate constantly, and the rate applied is the rate at the moment the conversion is executed, not the moment you initiate it. You can always see the amount and rate before confirming.

11 · Fees, charges & interest on savings

Our fees are set out on our pricing page and within the app, and they form part of these Terms. We will always show fees before you confirm a chargeable action. Typical charges may include certain SWIFT transfers, out-of-hours or above-threshold FX, physical card issuance or delivery, and some cash withdrawals above fair-usage limits. We may deduct fees due to us directly from your account balance.

Funds placed in eligible savings vaults and goals can earn interest of up to 5.2% AER, with interest accrued and paid daily. The advertised rate is variable and may change; where a change is to your disadvantage we will give you notice as described in section 16. The actual rate you receive depends on the product, currency and any balance tiers in force at the time. Interest is paid gross; you are responsible for any tax due on it according to your country of residence.

12 · Investing

Where available, we offer commission-free investing in thousands of stocks and ETFs, including fractional shares from as little as £1. Investing puts your capital at risk: the value of investments can go down as well as up, and you may get back less than you put in. Past performance is not a reliable indicator of future results. We do not provide investment advice or personal recommendations, and we are not your financial adviser. Investment products may be provided under separate product terms, which you should read alongside these Terms.

13 · Your responsibilities & acceptable use

You agree to use Sezvo lawfully, honestly and only for your own legitimate purposes. You must not:

• use the account for money laundering, terrorist financing, fraud, tax evasion, or any unlawful, deceptive or harmful activity;
• breach sanctions, or transact with sanctioned persons, regions or prohibited business types;
• allow anyone else to use your credentials, or impersonate another person;
• provide false information, or attempt to circumvent our security, limits or verification controls;
• misuse the app, reverse-engineer it, or interfere with its operation, availability or integrity.

You must maintain a sufficient balance to cover the payments, fees and charges you authorise, and you must keep your contact details current so we can reach you about important matters.

14 · Unauthorised transactions & chargebacks

If you tell us promptly about a payment you did not authorise, we will investigate and, where you are entitled to a refund under applicable payment-services law, refund the transaction — generally by the end of the next business day after you notify us, unless we have reasonable grounds to suspect fraud on your part. You may be liable for losses arising from unauthorised transactions if you acted fraudulently, or with intent or gross negligence failed to keep your credentials secure or to notify us in time, subject to the limits set by law.

For card purchases, you may be able to raise a chargeback through the relevant card scheme — for example where goods or services were not provided, were not as described, or where a merchant charged you incorrectly. Chargebacks are governed by scheme rules and time limits; we will help you raise an eligible dispute but cannot guarantee its outcome. Always try to resolve matters with the merchant first.

15 · Suspending, restricting & closing accounts

You may close your account at any time, free of charge, from the app or by contacting us, once any outstanding balance has been withdrawn and any sums you owe us have been settled.

We may suspend, restrict or close your account, or a particular feature, where: you breach these Terms; we are required to by law, a regulator or a court; we reasonably suspect fraud, financial crime or a security risk; you become someone we are not permitted to provide services to; or you have provided false information. Where we close your account for convenience and you are not in breach, we will normally give you at least two months' notice. Where the law or the circumstances require, we may act immediately and, where permitted, with limited explanation. On closure we will return any remaining safeguarded e-money to you, subject to verification and to any deduction we are entitled to make.

16 · Dormancy

If you do not access or transact on your account for an extended period, we may treat it as dormant. We will attempt to contact you using your registered details before taking action. Dormant accounts may have certain features restricted to protect them, but your safeguarded e-money remains yours, and you can reactivate the account by completing any verification we reasonably require. We do not charge dormancy fees that would erode your balance to zero.

17 · Our liability & its limits

We will provide the service with reasonable care and skill, but we do not guarantee that it will always be uninterrupted or error-free. We are not liable for losses caused by events beyond our reasonable control, by a third party (such as a merchant, intermediary bank or card scheme), by your own breach of these Terms, or by your provision of incorrect payment details. To the fullest extent permitted by law, we are not liable for indirect, consequential or unforeseeable loss, or for loss of profit, goodwill or opportunity.

Nothing in these Terms limits or excludes any liability that cannot be limited or excluded by law, including liability under mandatory payment-services and consumer-protection rules. Your statutory rights as a consumer are not affected.

18 · Changes to these Terms

We may change these Terms, our fees, interest rates or features. Where a change is to your disadvantage, we will normally give you at least two months' notice before it takes effect, through the app, by email or by another durable medium. If you do not agree to a change, you may close your account before it takes effect without charge; if you continue to use the account after the effective date, you are treated as having accepted the change. We may make changes that are required by law, or that are wholly to your benefit, with shorter notice or immediately.

19 · Intellectual property

Sezvo, UAB Aušra Pay, our logos, the app, its design, software and content are owned by us or our licensors and are protected by intellectual-property laws. We grant you a limited, personal, non-transferable and revocable licence to use the app for accessing your account. You must not copy, modify, distribute, sell or create derivative works from any part of the service except as the law expressly permits.

20 · Force majeure

We are not responsible for any failure or delay in performing our obligations that results from events beyond our reasonable control — including, without limitation, acts of God, war, terrorism, civil unrest, pandemics, strikes, failures of telecommunications or power, actions of governments or regulators, sanctions, or the failure of third-party networks, banks or card schemes. We will take reasonable steps to resume normal service as soon as we can.

21 · Complaints

If something goes wrong, we want to put it right. Contact our 24/7 in-app support team or write to us, and we will acknowledge and investigate your complaint in line with our complaints procedure and applicable timeframes. If you are not satisfied with our final response, or we have not responded within the required period, you may refer the matter to the competent out-of-court dispute body in Lithuania, and you may also have the right to complain to the Bank of Lithuania as our supervisory authority. These rights are in addition to any right you have to take legal action.

22 · Governing law & jurisdiction

These Terms, and any dispute or claim arising out of or in connection with them or your account, are governed by the laws of the Republic of Lithuania. The courts of Lithuania have jurisdiction, except that, if you are a consumer, you may also bring proceedings in the courts of your country of residence where mandatory consumer-protection rules give you that right. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions continue in full force.

23 · How to contact us

The fastest way to reach us is through 24/7 in-app chat. You can also contact UAB Aušra Pay (operating as Sezvo) at our registered office in Vilnius, Lithuania, or by the support channels listed in the app and on our website. For payments-related references, our BIC/SWIFT is OCENLT22 and your account details (LT IBAN) are shown in the app. We may contact you through the app, by email, push notification, or another durable medium using the details you have given us — please keep them up to date.

Last updated: June 2026. The binding versions of these Terms, together with our product-specific annexes (cards, savings, investing, crypto wallet and business accounts), are available on request and in the app.