Term
Definition
Maintaining the account
Transact Payments Ltd. or Jazari operates the account for use by the customer.
Subscribing or renewing internet, mobile and telephone banking
Transact Payments Ltd. or Jazari provides the customer with access for banking services using the internet, mobile or telephone.
Requesting statements
The customer requests bank statements, in paper or on other Durable Medium, over and above those which Transact Payments Ltd. or Jazari is required to send by law.
Standing order
Transact Payments Ltd. or Jazari makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer's account to another account.
Sending money in Euro to other accounts in the Single Euro Payments Area
Transact Payments Ltd. or Jazari transfers money, in Euros, on the instruction of the customer, from the customer's account to another account in a SEPA country.
Sending money in other currencies to any other account
Transact Payments Ltd. or Jazari transfers money, in non euro currencies, on the instruction of the customer, from the customer's account to another account.
Receiving money – GBP
The customer receives money in GBP from a GBP account.
Arranged overdraft
Transact Payments Ltd. or Jazari and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer.
Account Information Service (AIS)
A service that provides access to a user's bank account information, such as balances and transaction history.
Payment Initiation Service (PIS)
A service that allows a user to initiate payments directly from their bank account via a third-party app.
SEPA Payment
A SEPA (Single Euro Payments Area) payment is a standardized electronic payment made in euros between bank accounts within the SEPA zone, which includes European Union countries and certain other participating countries. It allows individuals and businesses to make cross-border transfers as easily, efficiently, and securely as domestic payments.