Terms of Service
Last Updated: January 1, 2026
1. Introduction
These Terms of Service ("Terms") govern your access to and use of the PALFA website, platform, applications, dashboards, accounts, wallets and related technology services (collectively, the "Platform").
PALFA is operated by PALFA AB, company registration number 5590353669, with its registered office at c/o YourOffice, Bror Nilssons gata 5, 417 55 Göteborg, Sweden ("PALFA AB", "PALFA", "we", "us" or "our").
By creating an account, accessing the Platform or using any service made available through PALFA, you acknowledge that you have read, understood and agreed to these Terms and our Privacy Policy.
If you do not agree to these Terms, you must not use the Platform.
2. Nature of PALFA
PALFA is a financial technology platform that provides users with a digital interface for accessing supported financial, payment and digital asset functionality.
Depending on your country, eligibility, account type and successful verification, services available through the Platform may include:
- virtual accounts and virtual IBANs;
- receiving and sending payments;
- SEPA and other supported payment rails;
- international transfers;
- digital wallets;
- supported fiat currencies;
- supported digital assets and stablecoins;
- fiat-to-digital-asset conversions;
- digital-asset-to-fiat conversions;
- currency exchange;
- transaction history and account management; and
- other financial technology services made available from time to time.
The availability and functionality of individual services may vary by jurisdiction, currency, asset, account type and service provider.
3. Regulatory Status and Third-Party Services
PALFA AB provides and operates the PALFA technology platform.
Unless expressly stated otherwise in relation to a specific service, PALFA AB is not a bank, credit institution, electronic money institution or payment institution and does not itself provide regulated banking or payment services.
Certain financial, payment, virtual account, digital asset, conversion and related services accessible through PALFA may be provided by independent regulated third-party service providers.
Where a regulated service is provided by a third party, that provider may impose its own terms, privacy notices, compliance requirements, fees, limits and eligibility criteria.
You may be required to accept additional terms directly with the relevant provider before using a particular service.
The identity of the applicable provider and any additional terms may be presented to you during onboarding, verification, activation or use of the relevant service where required.
4. Eligibility
To create and use a PALFA account, you must:
- be at least 18 years old if registering as an individual;
- have legal capacity to enter into binding agreements;
- provide accurate, complete and current information;
- successfully complete any required identity or business verification;
- not be located in or subject to restrictions applicable to prohibited or unsupported jurisdictions;
- not be subject to applicable sanctions or other legal restrictions that prohibit use of the services; and
- comply with these Terms and all applicable laws and regulations.
Business accounts may only be created by persons authorised to act on behalf of the relevant legal entity.
Registration alone does not guarantee access to any financial service.
5. Account Registration
You must provide accurate and complete information when creating your account.
You are responsible for maintaining the accuracy of your information and promptly updating it whenever it changes.
You are responsible for maintaining the confidentiality and security of your login credentials and for all activity conducted through your account, except where applicable law provides otherwise.
You must notify us promptly if you become aware of unauthorised access, suspected fraud, loss of credentials or any other security incident affecting your account.
We may require additional verification before permitting access to certain Platform functionality.
6. Identity and Business Verification
Access to financial and digital asset services may require Know Your Customer ("KYC"), Know Your Business ("KYB"), Proof of Address, sanctions screening, anti-money laundering checks, fraud screening and other compliance procedures.
Depending on the service, you may be required to provide information or documentation including:
- full legal name;
- residential or registered address;
- date of birth;
- nationality;
- government-issued identification;
- proof of address;
- tax-related information where required;
- source of funds or source of wealth information;
- company registration documents;
- directors and authorised representatives;
- shareholders and ultimate beneficial owners;
- business activity information; and
- other information reasonably required for regulatory or compliance purposes.
Verification may be performed by PALFA and/or the regulated third-party provider responsible for the relevant service.
You agree to provide accurate information and cooperate with reasonable verification requests.
Access to a service may be refused, restricted, suspended or terminated if verification cannot be completed or if required by applicable law, regulation, sanctions requirements, risk controls or provider policies.
7. Virtual Accounts and IBANs
Eligible users may be provided access to virtual account details, including virtual IBANs or other local or international payment details where supported.
Availability depends on factors including:
- jurisdiction;
- currency;
- account type;
- successful verification;
- applicable compliance requirements;
- provider availability; and
- approval by the relevant service provider.
Virtual account details must only be used for lawful purposes and in accordance with any instructions displayed on the Platform.
A virtual account or IBAN made available through PALFA should not be interpreted as meaning that PALFA or PALFA AB is a bank or deposit-taking institution.
The characteristics of a virtual account, including supported currencies, payment rails, settlement process and conversion functionality, depend on the applicable provider and product.
8. Payments and Transfers
Where available, users may send or receive payments through supported payment rails.
These may include:
- SEPA;
- other local payment systems;
- international transfers;
- SWIFT where available; and
- other supported payment networks.
Payment availability, processing times, currencies, limits and fees may vary.
A transfer may be delayed, rejected, returned, suspended or subject to additional review because of:
- incorrect payment information;
- compliance or sanctions screening;
- fraud prevention controls;
- provider requirements;
- intermediary or correspondent institutions;
- insufficient funds;
- unsupported beneficiaries or jurisdictions;
- technical or network issues; or
- requirements imposed by applicable law.
Any estimated processing time displayed on the Platform is indicative unless expressly stated otherwise.
9. Digital Wallets and Digital Assets
Where available, PALFA may provide access to functionality relating to supported digital assets, including stablecoins.
Supported functionality may include receiving, sending, viewing and exchanging supported digital assets.
The availability of a particular asset, network or functionality may change at any time.
You are responsible for verifying wallet addresses, blockchain networks and transaction details before confirming a transaction.
Transactions executed on blockchain networks may be irreversible.
PALFA is not responsible for assets sent to an incorrect address, an unsupported network or an incompatible wallet where the loss results from information or instructions provided by the user, except where otherwise required by applicable law.
10. Fiat and Digital Asset Conversion
Eligible users may be able to convert supported fiat currencies into supported digital assets and convert supported digital assets into fiat currencies.
Conversions may be facilitated through third-party service providers.
Before confirming a transaction, you may be shown applicable information such as:
- exchange rate;
- transaction amount;
- applicable fees;
- estimated amount to be received; and
- other relevant transaction information.
Exchange rates may change between quotation and execution where a quote is not expressly locked for a stated period.
Digital asset values may be volatile and may increase or decrease significantly.
You are responsible for evaluating whether a transaction is appropriate for you.
PALFA does not provide investment, financial, tax or legal advice.
11. Stablecoins
Certain services may support stablecoins.
Stablecoins are digital assets designed to reference the value of another asset or currency, but their value, liquidity and redemption characteristics may depend on the relevant issuer, market and infrastructure.
PALFA does not guarantee that any stablecoin will maintain a particular value or remain continuously available.
Supported stablecoins, networks and functionality may be changed, suspended or discontinued where necessary.
12. Fees and Exchange Rates
Fees may apply to services available through PALFA.
Applicable fees may depend on:
- service type;
- currency;
- digital asset;
- transaction amount;
- payment method;
- jurisdiction;
- network;
- third-party provider; and
- other transaction-specific factors.
Where practicable, applicable transaction fees or rates will be displayed before you confirm a transaction.
Third-party banks, payment institutions, correspondent banks, blockchain networks or other intermediaries may impose additional charges outside PALFA's control.
13. Limits
Transaction, account, wallet and service limits may apply.
Limits may vary according to factors including:
- verification level;
- account type;
- jurisdiction;
- currency or digital asset;
- transaction history;
- risk profile;
- regulatory requirements; and
- provider requirements.
Limits may be adjusted where reasonably necessary for security, compliance, operational or regulatory purposes.
14. Safeguarding and Customer Funds
PALFA AB does not itself operate as a deposit-taking bank and does not itself hold customer funds as bank deposits.
Where fiat funds, payment balances or other regulated assets are handled as part of a service, they are handled through the infrastructure of the relevant financial or regulated service provider in accordance with the legal and regulatory framework applicable to that provider and service.
The specific safeguarding, custody or account structure applicable to a service may therefore depend on the provider, jurisdiction and product being used.
15. Prohibited Activities
You must not use PALFA for unlawful, fraudulent, abusive or prohibited activity.
This includes, without limitation:
- money laundering or terrorist financing;
- sanctions evasion;
- fraud or attempted fraud;
- transactions involving proceeds of crime;
- identity theft or impersonation;
- unauthorised use of another person's account or payment method;
- illegal goods or services;
- exploitation, trafficking or other unlawful activity;
- market manipulation or other unlawful financial activity;
- attempts to circumvent transaction or compliance controls;
- use of the Platform from prohibited jurisdictions;
- providing false or misleading information;
- interfering with Platform security or operation; or
- any activity prohibited by an applicable service provider.
We or the relevant provider may investigate activity reasonably suspected of violating these restrictions.
16. Sanctions and Restricted Jurisdictions
Services are not available where their provision would violate applicable sanctions, financial crime laws or provider restrictions.
Availability may vary according to jurisdiction and risk classification.
We or a service provider may restrict or refuse services involving persons, entities, jurisdictions, wallet addresses or transactions subject to applicable sanctions or other legal restrictions.
17. Transaction Monitoring and Compliance
Transactions and account activity may be subject to automated and manual monitoring for purposes including:
- anti-money laundering compliance;
- counter-terrorist financing;
- sanctions compliance;
- fraud prevention;
- security;
- risk management; and
- compliance with legal and regulatory obligations.
Additional information or documentation may be requested in connection with a transaction or account review.
A transaction may be delayed, suspended, rejected or reported to an appropriate authority where required by applicable law or regulatory obligations.
18. Suspension and Termination
We may restrict, suspend or terminate access to all or part of the Platform where reasonably necessary because of:
- violation of these Terms;
- suspected fraud or unlawful activity;
- sanctions or compliance concerns;
- failure to complete required verification;
- security concerns;
- legal or regulatory requirements;
- provider instructions or restrictions;
- material risk to PALFA, another user or a service provider; or
- discontinuation of the relevant service.
Where legally and operationally permitted, we will provide appropriate information regarding the restriction or suspension.
We may be prohibited by law from providing certain information regarding compliance investigations or regulatory actions.
You may stop using PALFA at any time, subject to completion of outstanding transactions and applicable legal or provider requirements.
19. Service Availability
We aim to maintain reliable access to the Platform but do not guarantee uninterrupted or error-free availability.
Services may temporarily be unavailable because of:
- maintenance;
- technical failures;
- provider outages;
- blockchain congestion;
- banking network interruptions;
- security incidents;
- regulatory requirements; or
- circumstances outside our reasonable control.
Specific services, currencies, assets, jurisdictions or payment methods may be modified or discontinued.
20. Third-Party Providers
Certain functionality available through PALFA depends on third-party infrastructure.
Third-party providers may include financial institutions, payment service providers, digital asset service providers, identity verification providers, banking infrastructure providers, blockchain networks and technology providers.
Their services may be governed by additional terms and policies.
PALFA is not responsible for independent third-party services outside its reasonable control, subject to any rights you may have under applicable law.
21. No Investment or Financial Advice
Information available through PALFA is provided for general informational and transactional purposes.
Nothing on the Platform constitutes:
- investment advice;
- investment management;
- financial advice;
- legal advice;
- tax advice; or
- a recommendation to purchase, sell or hold any digital asset.
You should obtain independent professional advice where appropriate.
22. Risks of Digital Assets
Digital assets involve risks that may not apply to traditional currencies.
These risks may include:
- price volatility;
- loss of value;
- blockchain or protocol failure;
- network congestion;
- smart-contract risks;
- issuer or counterparty risks;
- changes in law or regulation;
- stablecoin de-pegging;
- cybersecurity incidents; and
- irreversible transactions.
You should only use digital asset services if you understand and accept the associated risks.
23. Security
You must take reasonable measures to protect your PALFA account.
You should:
- use a strong and unique password;
- protect authentication credentials;
- maintain control of your registered email and devices;
- verify transaction information carefully;
- never disclose authentication codes to unauthorised persons; and
- notify us promptly of suspected unauthorised activity.
We may introduce additional authentication or security measures where appropriate.
24. Privacy and Data Protection
Personal data is processed in accordance with the PALFA Privacy Policy and applicable data protection laws.
Information may be processed or shared with relevant service providers where necessary to provide services, conduct KYC/KYB, prevent fraud, perform sanctions and AML screening, process transactions, comply with legal obligations or protect Platform security.
Please review our Privacy Policy for further information.
25. Intellectual Property
The PALFA name, Platform, software, interfaces, graphics, designs, databases, content and other associated intellectual property are owned by or licensed to PALFA AB or its licensors, except where otherwise stated.
You receive a limited, personal, non-exclusive, non-transferable and revocable right to use the Platform in accordance with these Terms.
You may not copy, reverse engineer, distribute, reproduce or commercially exploit Platform materials except where permitted by law or expressly authorised by us.
26. Limitation of Liability
To the maximum extent permitted by applicable law, PALFA AB will not be liable for indirect, incidental, special or consequential losses arising from use of the Platform.
Nothing in these Terms excludes or limits liability where such exclusion or limitation is prohibited by applicable law.
We are not responsible for losses resulting solely from matters outside our reasonable control, including failures of external payment networks, blockchain networks, correspondent institutions or independent service providers, except to the extent responsibility cannot legally be excluded.
27. Indemnification
To the extent permitted by applicable law, you agree to indemnify PALFA AB against reasonable losses, claims, liabilities and expenses arising directly from your unlawful use of the Platform, material violation of these Terms, fraud or infringement of third-party rights.
This section does not limit any mandatory consumer rights.
28. Complaints
If you have a complaint concerning PALFA or the operation of the Platform, contact:
Email: support@palfa.se
Please provide sufficient information for us to identify your account and understand the issue.
Where a complaint concerns a regulated service provided by a third party, the matter may need to be referred to the relevant service provider and handled under that provider's complaints procedure.
Nothing in these Terms limits any right you may have to refer a complaint to a competent regulator, ombudsman, dispute resolution body or court where applicable.
29. Communications
You agree that we may provide service-related communications electronically, including through:
- email;
- Platform notifications;
- dashboard messages; or
- notices published through the Platform where appropriate.
You are responsible for maintaining a valid email address associated with your account.
30. Changes to These Terms
We may amend these Terms where reasonably necessary to reflect:
- changes to the Platform;
- new or discontinued services;
- legal or regulatory requirements;
- security requirements;
- changes to provider infrastructure; or
- operational changes.
The updated Terms will be published on the Platform with a revised "Last Updated" date.
Where required by applicable law, we will provide additional notice before material changes take effect.
Continued use of the Platform following the effective date of updated Terms constitutes acceptance where permitted by applicable law.
31. Governing Law
These Terms are governed by the laws applicable to PALFA AB in Sweden, without prejudice to any mandatory consumer protection rights that may apply to you under the laws of your country of residence.
Nothing in these Terms deprives a consumer of protections that cannot lawfully be excluded by agreement.
32. Severability
If any provision of these Terms is determined to be invalid or unenforceable, the remaining provisions will continue in full force to the extent permitted by law.
33. Entire Agreement
These Terms, together with the Privacy Policy and any additional terms expressly applicable to a particular service, constitute the agreement governing your use of PALFA.
Additional terms imposed by a regulated third-party provider may separately govern the regulated service provided by that provider.
34. Contact Information
PALFA is operated by:
PALFA AB
Registration No.: 5590353669
c/o YourOffice
Bror Nilssons gata 5
417 55 Göteborg
Sweden
Email: support@palfa.se
