Terms & Conditions Page

Conditions applicable to the operation of payments and currency exchange

In order for the Client to carry out local and international payment and currency exchange operations, RITMO will register the Client on the The Currency Cloud Limited platform if Client is from the UK and on the CurrencyCloud B.V. platform if Client is from the EU. (the “Payment Platform” and “CurrencyCloud”, respectively) —The Currency Cloud Limited is registered in England No. 06323311 with a registered Office in Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. Authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). CurrencyCloud B.V. is registered in the Netherlands No. 72186178 with registered office in Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. Authorized by the DNB under the Wet op het financieel toezicht for the issuing of electronic money (Relation Number: R142701) —and will open a multi-currency account in its name from which the Client can carry out such activities.

The CurrencyCloud terms and conditions that can be consulted here for the UK and here for the EU will apply to said currency exchange and payment operations through a multi-currency account opened in the name of the Client in CurrencyCloud, in which RITMO does not provide any service to the Client.

The Client may make payments and/or transfers through the multi-currency account opened in his name in CurrencyCloud. Both local payments and SWIFT payments may be made, depending on the applicable currency. Annex 1 details the currencies available as well as the different operations that can be carried out with each one. In any case, foreign currency purchase and sale operations could be carried out in all the currencies mentioned in said Annex.

The costs that the Client must pay to CurrencyCloud, through RITMO, are those reflected in Annex 2.

For currency exchange, the Client will pay a commission on the total amount of currency exchanged. The applicable commission percentage is detailed in Annex 2. The exchange rate used for currency exchange services will be the one in effect at the time of the currency exchange on the Payment Platform, which will include the commission.

The Client may carry out currency conversions on the same day without having the funds to be converted. In case of not covering the converted amount before the end of the day, Ritmo will incur costs for rolling the operation the next day as well as the impact of any loss resulting from said transaction. Ritmo will pass on all of these costs to the client. The details of these costs can be found in Annex 3. These costs will be debited from the client's account on a monthly basis.

Currency	Local Payment	SWIFT Payment	Receive Local	Receive SWIFT
AUD	YES	YES	NO	YES
CAD	YES	YES	YES	YES
HRK	YES	YES	NO	YES
CZK	YES	YES	NO	YES
DKK	YES	YES	NO	YES
EUR	YES	YES	YES	YES
HKD	YES	YES	NO	YES
HUF	YES	YES	NO	YES
JPY	NO	YES	NO	YES
KES	NO	YES	NO	YES
NZD	NO	YES	NO	YES
NOK	YES	YES	NO	YES
PLN	YES	YES	NO	YES
RON	YES	YES	NO	YES
SAR	NO	YES	NO	YES
SGD	YES	YES	NO	YES
ZAR	NO	YES	NO	YES
SEK	YES	YES	NO	YES
CHF	NO	YES	NO	YES
TRY	NO	YES	NO	YES
GBP	YES	YES	YES	YES
AED	NO	YES	NO	YES
USD	YES	YES	YES	YES

SWIFT payment SHA	£10 per payment
SWIFT payments OUR	£15 per payment
Local payment	£0 for the first 20 payments per month. £1 per payment following.
Currency exchange commission	1%

Costs to roll an open position	£15 per day
Losses	The loss resulting from maintaining an open position will be fully passed on to the client.