Argentina

IMPORTANT NOTICE – LIMITATION OF SERVICES

BLOCK DIGITAL SERVICES S.A. provides payment services only and is not authorized to operate as a financial institution by the Central Bank of the Argentine Republic (BCRA). Funds deposited in payment accounts do not constitute bank deposits and are not covered by any of the guarantees applicable to deposits in financial institutions under Argentine law and regulations.

ADHESION CONTRACT – LAW 24,240 (CONSUMER PROTECTION)

These Terms and Conditions of Use, including their annexes (the “Terms of Use”), constitute a binding contract between any person (the “User” or, collectively, the “Users”) who accesses and/or uses the services of BLOCK DIGITAL SERVICES S.A., CUIT: 30-71738972-3 (“BLOCK DIGITAL SERVICES”). Such services include access to and use of the digital wallet and any related payment services (each, a “Service” and collectively, the “Services”).
 

These Terms of Use describe the rights, responsibilities, and obligations of the User and BLOCK DIGITAL SERVICES in relation to the use of payment processing, payment accounts, the Platform (as defined below), and any related product, functionality, or service.
 

By registering as a User and/or using the Services, the User expressly acknowledges and accepts these Terms of Use and all other policies and principles incorporated herein by reference. Any person who does not accept these Terms of Use, which are mandatory and binding, must refrain from using the Platform and/or the Services.
For any operation contemplated herein that requires registration as a Payment Service Provider with the Central Bank of the Argentine Republic, such operation and related functions shall be deemed to be carried out by BLOCK DIGITAL SERVICES S.A.

Consent – Compliance with BCRA Communication “A” 7463

The User authorizes the enrollment of their demand payment account to be used in the digital wallet. The User acknowledges that the wallet is provided by BLOCK DIGITAL SERVICES S.A. and that the enrolled payment account is their own.
 

All payment or debit instructions issued by the User shall remain valid for as long as such consent or authorization is in force.
The User may unlink the enrolled account through the following procedure:
Platform > Profile button (top left corner) > “Personal Data” > “Delete Account” > “Confirm.”
Alternatively, the User may request unlinking by sending an email to legal@blockdg.com, in accordance with these Terms of Use and any procedures established in the future.

1. Account Registration

a) Registration

To use the Services, Users must register with BLOCK DIGITAL SERVICES and accept these Terms of Use. Registration requires completing the form with valid, accurate, and truthful personal information (“Personal Data”).
The User undertakes to keep such data updated through the Platform’s support channels. BLOCK DIGITAL SERVICES is not responsible for the accuracy of data provided by Users, who remain solely liable for its truthfulness, accuracy, completeness, and authenticity. All data provided has the nature of a sworn statement.
BLOCK DIGITAL SERVICES may request supporting documents or additional information to verify the data provided and may temporarily or permanently suspend accounts that cannot be verified.
For compliance with anti–money laundering and counter–terrorist financing (“AML/CFT”) regulations, BLOCK DIGITAL SERVICES may request identification and monitoring information from the User, which may vary according to their activity or Services used. Periodic updates may be required.
BLOCK DIGITAL SERVICES reserves the right to reject registration requests or to cancel/suspend accounts if (i) inconsistencies or suspicious activities are detected, or (ii) the User fails to provide or update required information. Such decisions give no right to damages or compensation.

b) Block Digital Services Account

Upon registration, a User will open a Block Digital Services Account (the “Account”), which enables access to the Services and any future features subject to applicable terms. A Uniform Virtual Key (CVU) may be automatically generated and linked to the Account.
The User is solely responsible for all activity under their Account and must immediately notify BLOCK DIGITAL SERVICES of any unauthorized use via reliable means or to legal@blockdg.com.
Accounts are personal, unique, and non-transferable. Only “Individual” Accounts are available by default, provided requirements are met.
All references to money within BLOCK DIGITAL SERVICES are to Argentine pesos unless expressly stated otherwise.

2. Proper Use of the Account

2.1. Users may not use their Account for unlawful purposes or for activities contrary to public morals, customs, or regulations. Prohibited uses include but are not limited to: money laundering, terrorist financing, human trafficking, arms trafficking, or supporting illegal activities. Accounts linked to such activities will be immediately closed or blocked.
2.2. Each Account is personal, unique, and non-transferable, and may not be sold, assigned, or transferred in any manner. Third-party use is strictly prohibited.
2.3. Commercial use of the Account is strictly prohibited, including use on behalf of third parties. Any such activity will result in immediate closure or blocking.
2.4. User Representations. The User declares that their use of the Services does not involve: (i) gambling or betting prohibited by law; (ii) arms, human, or animal trafficking; (iii) AML/CFT violations; (iv) pornography, prostitution, or pedophilia; (v) fraudulent or suspicious activities.
The User shall not use the Services to transmit material constituting a crime, giving rise to civil liability, or infringing these Terms of Use.
Cash advances or loans between Users are expressly prohibited. BLOCK DIGITAL SERVICES may reject, cancel, or suspend suspicious transactions and block or terminate Accounts involved. Users shall be liable for damages caused to BLOCK DIGITAL SERVICES or other Users.
2.5. Services may only be used on the User’s own behalf. Resale of Services is strictly prohibited.

3. Payment Processing – Mandate

a) Payment Processing Agreement

The User and BLOCK DIGITAL SERVICES (the “Parties”) may enter into Payment Processing Requests under which BLOCK DIGITAL SERVICES provides payment processing services (“Payment Processing Services”) in accordance with the User’s instructions.

b) Irrevocable Mandate

By submitting a Payment Processing Request, the User grants BLOCK DIGITAL SERVICES an irrevocable mandate to (i) pay or (ii) collect funds (“Funds”) on their behalf. This authorizes BLOCK DIGITAL SERVICES to dispose of or receive Funds in the User’s Account, as instructed.

c) Execution

Payment Processing Requests must be submitted via the online form on the Platform. Incomplete or inconsistent requests may be rejected. Users are solely responsible for their instructions. BLOCK DIGITAL SERVICES does not verify the underlying obligation.

d) Completion

A Payment Processing Request is not perfected until BLOCK DIGITAL SERVICES accepts it and sufficient Funds are available. BLOCK DIGITAL SERVICES may refuse requests at its sole discretion without liability.

e) User Responsibility

The User is fully responsible for erroneous, fraudulent, duplicate, or unauthorized instructions issued from their Account, and for any damages caused.

f) Limitation of Liability

BLOCK DIGITAL SERVICES is not responsible for Users’ obligations to third parties or the quality, legality, or legitimacy of goods or services paid for via the Platform. Disputes between Users or with third parties release BLOCK DIGITAL SERVICES from liability.

4. Delivery, Use, and Withdrawal of Funds

a) Delivery. Before a request is processed, sufficient funds must be available in the Account. Pending or retained funds are not considered available.
b) Instructions. BLOCK DIGITAL SERVICES will follow User instructions for sending or receiving Funds. By holding an Account, the User authorizes receipt of funds and applicable debits.
c) Withdrawals. Users in Argentina may withdraw available funds to a designated bank account, subject to limits. Transfers are executed immediately upon request. Errors in bank details are the User’s responsibility. BLOCK DIGITAL SERVICES may block withdrawals in cases of fraud or legal suspicion.
d) Limits. BLOCK DIGITAL SERVICES may establish maximum amounts per transaction, which may vary and be modified by publishing updates on the Platform.
e) Authorization to Debit. The User authorizes BLOCK DIGITAL SERVICES to debit funds for chargebacks, reversals, or disputes. If insufficient funds are available, future inflows may be debited, or the User must repay within thirty (30) days.
h) Responsibility. Funds are held in demand accounts with Argentine banks chosen by BLOCK DIGITAL SERVICES. The Company is not liable for bank insolvency, political/economic crises, or related risks. Users release BLOCK DIGITAL SERVICES from liability in such cases.

5. General Conditions

5.1. Service Provider. BLOCK DIGITAL SERVICES is a payment service provider and not a financial institution. Funds in payment accounts are not deposits and carry no guarantees.
5.2. No Interest. Funds in the Account do not accrue interest.
5.3. Data Security. Personal data will not be sold or rented. It may be shared with value-added service providers integrated into the Platform. Data is encrypted and stored securely.
5.4. Limitation of Liability. Continuous access to the Platform or Services is not guaranteed. Users may not claim damages for outages or technical failures.
5.5. Intellectual Property. All rights in the Platform (software, hardware, logos, content, etc.) are owned by BLOCK DIGITAL SERVICES or its affiliates. Unauthorized use is prohibited.
5.6. Amendments. Terms may be amended at any time without prior notice, effective upon publication in the “Adhesion Contracts – Law 24,240 Consumer Protection” section. Users who disagree may terminate the Service.
5.7. Assignment. Users may not assign their rights or obligations. BLOCK DIGITAL SERVICES may assign or transfer its contractual position.
5.8. Termination. Either Party may terminate this Agreement without cause, provided no obligations remain pending. BLOCK DIGITAL SERVICES may terminate immediately in case of User breach, reserving the right to claim damages.
5.9. Right of Withdrawal. Users may revoke the Service within ten (10) business days of acceptance, provided the Service has not been used.
5.10. Termination of Service. Users may terminate the Service at any time via the App or contact channels, after withdrawing all funds. BLOCK DIGITAL SERVICES may also terminate or suspend the Service at any time with notice.

6. Service Payment Functionality

By using this feature, the User grants BLOCK DIGITAL SERVICES an irrevocable mandate to debit available funds to pay Service Providers.
The User must maintain sufficient balance to complete requests. Refunds, if any, will be credited via reverse transfer by the Service Provider. BLOCK DIGITAL SERVICES is not liable for Providers’ actions, omissions, or refund decisions.
Users remain solely responsible for their use of this functionality. Service Providers are solely responsible for their business activity and compliance with applicable laws.
The User authorizes BLOCK DIGITAL SERVICES to withhold or collect applicable taxes, fees, or charges. Users are responsible for their own tax obligations.

7. Notifications

BLOCK DIGITAL SERVICES may notify Users via:
(i) the primary email registered,
(ii) the mobile application, and/or
(iii) the User’s Account.
Registered Address of BLOCK DIGITAL SERVICES: Av. Corrientes 1386, 9th Floor, CABA, Buenos Aires, Argentina.

8. Annexes

All annexes published on the Platform form an integral part of these Terms of Use.

9. Dispute Resolution

BLOCK DIGITAL SERVICES undertakes to comply with Argentine law, including the Consumer Protection Law No. 24,240 and Purchase Protection rules, providing Users with all necessary cooperation and information.

10. Governing Law and Jurisdiction

These Terms are governed by the laws of Argentina. Any dispute relating to their existence, validity, interpretation, scope, or performance shall be submitted to the Commercial Courts of the City of Buenos Aires.