Europe

Please read these Terms and Conditions carefully before accessing and using the website www.bnka.com and/or the BNKA application. BNKA is not a financial institution, merchant, lender, charity, advisor or broker of any kind.

These Terms and Conditions apply to transactions carried out by authorized users through the BNKA application and/or platform, which is owned by Block Ventures, S.L., a company incorporated under the laws of Spain, with registered office at Calle Zurbano 45, 1°, 28010, Madrid, Spain, authorized to operate as a Virtual Asset Service Provider (VASP). BNKA has created the BNKA App and the BNKA web platform (together, the “Platform”).

This Agreement governs the provision of services offered through the App by means of a “IBAN” (“Virtual IBAN Account”).

The Company reserves the right to review these Terms and Conditions at any time. Users should review them regularly. Continued use of the Platform constitutes acceptance of any amendments.

If the User disagrees, the Company will close the User’s Account once instructions for disposal of remaining Assets are received; until then, the Account may be blocked.

1. General Information

1.1 These Terms and Conditions govern access to and use of the Platform.

1.2 BNKA is not a financial institution, bank, credit institution, electronic money institution, payment acquirer, investment advisor or intermediary.

1.3 The Platform is owned and operated by Block Ventures, S.L., authorized and supervised in Spain as a VASP.

1.4 These Terms govern:
• use of the Platform and BNKA Account;
• use of Virtual IBAN functionality and related payment flows arranged through external providers.

1.5 The Virtual IBAN is a technical feature allowing BNKA to receive and send funds via payment accounts held with external payment service providers. Users do not become direct clients of such providers.

2. Regulatory Status and Role of External Providers

2.1 Block Ventures, S.L. is authorized as a VASP.

2.2 BNKA does not:
• issue electronic money;
• provide payment services under PSD2;
• operate as a bank or accept deposits.

2.3 Fiat deposits and withdrawals may be enabled via authorized payment service providers (“PSPs”). PSPs provide services to BNKA, not directly to Users.

2.4 Funds are processed through payment accounts held in the name of group entities or regulated third parties. Users do not have a direct contractual relationship with PSPs.

3. Scope of the Agreement

3.1 By registering, you accept these Terms.

3.2 The BNKA Account is an internal record showing:
• virtual asset balances;
• fiat balances reflected via PSPs;
• transaction history.

3.3 This Agreement is entered into between you and Block Ventures, S.L.

3.5 Service Structure and Involved Entities

(a) Fiat-related services are provided by regulated PSPs. Block Digital UAB facilitates access and acts as technical, operational and compliance interface, without providing payment services itself.

(b) Crypto-related services, including execution and conversion, are provided exclusively by Block Ventures, S.L.

3.6 Limitation of Services of Block Ventures, S.L.

Block Ventures, S.L. does not provide payment services, issue electronic money, open or maintain payment accounts, hold fiat funds, or maintain contractual relationships with banks or PSPs.

3.7 Regulatory Clarification

Nothing herein shall be construed as either entity providing regulated services without authorization.

4. Eligibility

Users must be at least 18, reside in the EEA and complete KYC.

5. Account Opening and KYC

Users must provide accurate KYC information. BNKA may suspend or close accounts if requirements are not met.

6. Customer Support and Complaints

Support is available via https://support.bnka.com.

7. Personal Data

Data is processed in accordance with GDPR.

8. Virtual IBAN and Fiat Operations

Virtual IBANs are technical identifiers linked to regulated payment accounts. Funds are reflected in the Platform but held with PSPs.

9. Rejected Transactions and Unauthorized Use

BNKA may block or reverse transactions for legal or risk reasons.

10. Fees and Charges

Applicable fees are displayed in the Platform.

11. Account Security

Users are responsible for safeguarding credentials.

12. Amendments and Account Closure

BNKA may amend these Terms and close accounts in accordance with applicable law.

13. Additional Legal Terms

Includes intellectual property, liability limitations, force majeure.

14. Governing Law and Dispute Resolution

Spanish law applies, without prejudice to mandatory consumer protection laws.