Argentina

ADHESION CONTRACT – LAW 24.240 – CONSUMER PROTECTION

Block Digital Services S.A. (hereinafter, the “Company”) offers interested parties (hereinafter, the “User” or the “Cardholder”) the subscription to the BNKA Prepaid Card product, available in both physical and virtual form (indistinctly referred to as the “Prepaid Card” or the “Prepaid Cards”). The scope, modalities, and requirements of this product are governed by these Terms and Conditions (hereinafter, the “Terms”).
By subscribing to and using the Prepaid Card, the User expressly accepts these Terms and undertakes to comply fully and unconditionally with all provisions herein, in accordance with applicable laws, statutes, rules, and regulations.
The Company reserves the right to amend these Terms at any time. Any amendments shall be notified through the communication channels specified herein, including details of the changes and their effective date. Such amendments will be deemed accepted unless expressly rejected by the User within ten (10) days of notification. An express rejection will result in termination of the Prepaid Card contract. Any person who does not accept these mandatory and binding Terms must refrain from requesting or using the Prepaid Cards, the Platform, and/or related Services.

Definitions

A. Prepaid Card

A nominative, rechargeable, personal, and non-transferable card that allows the User to make payments for goods and/or services both in Argentina and abroad. The Prepaid Card may be:
(i) Physical (the “Physical Prepaid Card”); and/or

(ii) Virtual (the “Virtual Prepaid Card”), which is exclusively enabled for electronic transactions.

The Prepaid Card does not allow cash advances through ATMs or over-the-counter withdrawals. Transactions made with the Prepaid Card are the sole responsibility of the User, who must safeguard it and maintain the confidentiality of their password.
 

B. Physical Prepaid Card

The Physical Prepaid Card is a nominative, personal, and non-transferable plastic card that may be used for in-person payments via POS terminals (including contactless), as well as for online, telephone, or other authorized transactions.

Once received, the Physical Prepaid Card must be activated by the Cardholder through the Platform and/or any other channel that the Company may make available in the future.

If the envelope containing the Physical Prepaid Card appears damaged or tampered with, the Cardholder must refuse delivery and immediately notify the Company via the available customer service channels. The Company will then deactivate the card, and the User may request a replacement through the authorized channels.

C. Virtual Prepaid Card

The Virtual Prepaid Card is a nominative, personal, and rechargeable card, intended exclusively for electronic transactions at merchants affiliated with the VISA network in Argentina and abroad.

Any User validated on the Platform may request a Virtual Prepaid Card, which shall be made available immediately upon acceptance of these Terms.

The Virtual Prepaid Card is automatically activated upon request, without physical delivery.

1. Issuance and Verification Procedure

1.1. To issue a Prepaid Card, the Company will use the information provided by the applicant through the Platform, as a previously validated User. The User must provide all requested personal data, documents, and information truthfully, accurately, and completely, particularly to comply with applicable regulations, including but not limited to those of the Financial Intelligence Unit (“UIF”), the Anti–Money Laundering and Counter–Terrorism Financing Procedures Manual, and any other requirements imposed by the Company.
1.2. The Company may reject, suspend, or cancel a Prepaid Card application if it detects inconsistencies in the data, documents, or information provided, or if the User fails to submit the requested information properly. The Company reserves the right to review applications and deny requests at its sole discretion.
1.3. Once activated, the Prepaid Card may be used within the validity period indicated on its front, subject to the available balance in the Cardholder’s Platform account and to the usage limits set by the Company and/or third-party service providers.
1.4. Upon expiration, the Prepaid Card will be automatically canceled. Renewal will occur automatically if transactions were made within the previous twelve (12) months, unless the Cardholder expressly instructs otherwise at least thirty (30) days before expiration.
1.5. The Company may cancel the Prepaid Card due to inactivity exceeding twelve (12) months, without prior notice.
1.6. In the event of cancellation, the User may request a new card through the authorized channels, subject to compliance with any new requirements.

2. Use of the Prepaid Card

2.1. The Prepaid Card is not a credit, debit, or charge card. It does not allow installment purchases or any form of financing by the Company. It may only be used for lawful purposes, in accordance with these Terms and any future terms governing the product.
2.2. Each transaction shall be subject to the specific requirements or procedures of the merchant, type of transaction, and/or payment channel used. Compliance with such requirements constitutes acceptance of the transaction and makes the Cardholder solely responsible for it.
2.3. The Prepaid Card reflects the balance available in Argentine pesos in the User’s Platform account. All inflows and outflows of funds will be recorded accordingly. Older transactions may not appear on the Platform but can be requested through customer service.
2.4. Transaction amounts, including fees, commissions, charges, and other items (“Associated Costs”), will be fully debited from the Cardholder’s Platform account at the time of the transaction. If the account balance is insufficient or unavailable, the transaction will be declined. The Company may impose operational limits. Notwithstanding such limits, Users may freely transfer and withdraw funds from their CVU accounts.
2.5. Funds in the Platform account do not constitute deposits with a financial institution and are not guaranteed under applicable banking deposit protection laws.

3. Disputes and Chargebacks

3.1. Purchases made with the Prepaid Card establish a contractual relationship solely between the Cardholder and the merchant. The Company bears no responsibility for such transactions, which cannot be revoked or canceled by the Company. Non-fraudulent disputes (e.g., duplicate transactions, cancellation of automatic debits, payment errors) must be resolved directly with the merchant.
3.2. If a transaction is canceled by the merchant, the Cardholder must obtain proof of cancellation and submit it to VISA. Subject to VISA’s approval, the Company will refund the amount to the Cardholder’s Platform account.
3.3. The Cardholder may dispute a transaction within thirty (30) days of its appearance on the Platform. The Company must respond within fifteen (15) days of receiving the claim and may request supporting documentation before issuing a refund. A final response will be provided within thirty (30) days, subject to internal review. Claims deemed non-fraudulent or inconsistent with recorded transactions will be rejected.

4. Differences in Transaction Presentation

4.1. The User acknowledges that merchants may request pre-authorization and later present transactions for settlement. Presentation constitutes confirmation of the charge and may involve delays or nominal differences. In case of delay, the Company may temporarily credit funds back to the User and later debit them once the merchant presents the transaction. In case of difference, the Company may adjust by crediting or debiting the appropriate amount.

5. Reporting and Reissuance

5.1. The User may pause or report loss, theft, misplacement, destruction, misuse, or suspected compromise of a Prepaid Card via the Platform or customer service channels. Reported cards will be permanently canceled and cannot be reactivated. A new card must be requested, which may involve costs or new requirements in the case of Physical Prepaid Cards.
5.2. The User must immediately notify the Company of such events. A police report is required to initiate a dispute process. Submission of a report does not guarantee a favorable resolution, which depends on the Company’s review.
5.3. The User remains solely responsible for all use of the card until the Company confirms its cancellation. Neither the Company nor VISA will be liable for transactions prior to effective cancellation.
5.4. The Platform offers a “Pause” option to temporarily suspend the card while its status is verified. If suspicion is confirmed, the User must report and proceed as outlined above. Otherwise, the card may be reactivated.

6. Cancellation or Suspension

6.1. The User may voluntarily cancel the Prepaid Card at any time via the Platform or customer service channels.
6.2. The Company may cancel or suspend a card in cases of: (i) user report, (ii) judicial or regulatory order, (iii) suspected fraud or illegal use, (iv) suspension or closure of the User’s Platform account, (v) failure to provide required data, or (vi) breach of these Terms, the Platform’s Terms, or the Company’s Privacy Policy.

7. User’s Right of Termination or Withdrawal

7.1. Termination: The User may cancel the Prepaid Card at any time through the Company’s website, simply and at no cost.
7.2. Withdrawal: The User may revoke the card request within ten (10) calendar days of receipt, provided the card has not been used. If the card has been used, Associated Costs proportional to the usage period will be charged.
7.3. The Company shall provide a visible “termination/withdrawal” button on its website. Upon activation, the User will receive a case number and the process will be executed automatically, unless otherwise informed.

8. Responsibilities

8.1. The Company does not guarantee uninterrupted access to the Prepaid Card services, which may be affected by technical issues, internet failures, VISA network outages, or causes beyond its control.
8.2. The Cardholder agrees to hold the Company, its affiliates, officers, employees, and representatives harmless from any damages, losses, or claims related to use of the Prepaid Card.

9. Taxes

9.1. All present and future taxes applicable to the Prepaid Card (issuance, maintenance, transactions) shall be borne by the User and debited from their Platform account.
9.2. The User undertakes to maintain a sufficient balance to cover such taxes. In case of insufficient funds, the Company will inform the User of the payment method.
9.3. Users who are tax-exempt may request refunds. The Company may reject requests that do not meet regulatory requirements. Rejections may be further pursued through remedies under Law 11.683.

10. Foreign Currency Transactions

10.1. International transactions will be converted into Argentine pesos at the official Banco Nación Argentina exchange rate, plus an additional charge. The transaction date may differ from the posting date.
10.2. Certain transactions may be subject to Dynamic Currency Conversion (DCC), where VISA applies its own exchange rate.
10.3. Foreign currency transactions may be subject to taxes, deductions, or withholdings established by law. Such amounts will be borne by the User and debited from their Platform account.

11. Associated Costs

Any Associated Costs will be automatically debited from the User’s Platform account. In case of insufficient funds, the Company will inform the User of the required payment method.

12. Regulatory Information and Data Processing

12.1. The Company is authorized to provide information on the User to VISA, the Central Bank of Argentina, UIF, and other competent authorities, as required.
12.2. By accepting these Terms, the User consents to the inclusion of their personal data in the Company’s registered databases and authorizes its processing by the Company and its affiliates for the operation of the Prepaid Card.

13. Communications

All communications between the Company and the Cardholder under these Terms shall be conducted through the Platform and the channels provided therein.

14. Governing Law and Jurisdiction

These Terms shall be interpreted in accordance with Argentine law. Any dispute arising from these Terms or the use of the Prepaid Card shall be resolved exclusively before the Commercial Courts of the Cardholder’s domicile.