Updated 06.10.2025

 

1. DEFINITIONS

The capitalized terms used in these Terms and Conditions have the meanings set out below:

Account Blocking – a suspension of access to the Account that prevents the use of the Application and services provided by Silvo.

Customer – a natural person, legal person, or organizational unit without legal personality that is granted legal capacity by law, who uses services provided by Silvo.

Account – an individual Customer account, through which the Customer may use services provided by Silvo and by third parties cooperating with Silvo, in accordance with these Terms and Conditions.

KNF – the Polish Financial Supervision Authority.

Customer Panel – an online service accessible via the Application that constitutes an electronic channel through which Silvo provides payment services and related functionality under the Framework Agreement.

Partner – a third party authorized, in cooperation with Silvo, to provide the Customer with access to services delivered by Silvo via a separate mobile application.

Terms and Conditions – these Terms and Conditions of the Silvo Pay application.

Framework Agreement – the framework agreement concluded by the Customer with Silvo for opening and maintaining a payment account, for issuance and servicing of a payment card, and for access to payment services via the Application.

UUP – the Polish Act of 19 August 2011 on Payment Services.

KYC Verification – application of financial security measures referred to in Article 34 of the Polish Act of 1 March 2018 on Anti-Money Laundering and Counter-Terrorist Financing, as applicable.

Proposal – an offer by the Customer to conclude a Contract with Silvo on the terms current at the time the Application is submitted.

 

2. SUBJECT MATTER AND PRELIMINARY PROVISIONS

2.1. Subject to clause 2.2, Silvo administers the Application. Services provided by Silvo and other entities cooperating with Silvo may be made available to the Customer within the Application.
2.2. If the Customer accesses Silvo’s services via a Partner’s mobile application, that Partner administers the Application; services of Silvo and cooperating entities may still be made available therein.
2.3. To use services, the Customer must install the Application on a compatible device.
2.4. These Terms and Conditions set out the rules for using the Application, maintaining an Account, and providing electronic services by Silvo (including access to payment services delivered by Silvo as an authorized electronic money institution under the UUP).
2.5. Services provided by Silvo do not constitute banking services and do not involve maintaining a bank account under Polish banking law.
2.6. The Account is not an “electronic banking service” within the meaning of the Regulation of the Minister of Development and Finance of 14 July 2017 on the list of representative services linked to a payment account.
2.7. Each Customer may access these Terms and Conditions free of charge within the Application in a form enabling storage and reproduction.
2.8. Silvo’s personal data processing is described in the Privacy Policy available in the Application. Where Silvo cooperates with third parties, their personal-data processing is governed by the respective agreements with the Customer.

 

3. APPLICATION AND ELECTRONIC SERVICES

3.1. The Application provides access to:
a) Home – navigation within the Application and information about Silvo’s offerings;
b) Profile – viewing and editing basic Customer information and core settings;
c) Security – managing security features and authentication methods;
d) About – information on the Application and access to legal documents, model agreements, and regulations applicable to services of Silvo, the Partner, and cooperating entities;
e) Application (Onboarding) – submitting a Proposal and concluding a Contract under which Silvo provides the Account;
f) Customer Account – an area where Silvo enables the Customer to:
i. access the Customer Panel and its features (including a top-up section that does not permit direct top-ups; currency conversion, if any, occurs outside the Application) and manage funds held in payment and foreign-currency accounts maintained by Silvo;
ii. access payment services provided by Silvo, including maintaining payment and foreign-currency accounts and issuing/servicing a payment card;
iii. submit instructions and declarations as set out in the Framework Agreement;
iv. receive information and documents related to implementation of the Framework Agreement;
v. use services of third-party providers cooperating with Silvo under separate agreements concluded by the Customer;
vi. manage the Account.

3.2. Access to services listed in 3.1(a–e) is available to all Customers. The Account service in 3.1(f) is provided only to Customers who have concluded a valid Contract with Silvo.
3.3. Within an application operated by Silvo, the Customer may access Account data maintained in Silvo’s app and, if applicable, in a Partner’s app with which the Customer has a valid agreement. In an application operated solely by a Partner, the Customer will only access the Partner-maintained account data.
3.4. Silvo provides payment services within the Customer Panel only to Customers who have concluded a valid Framework Agreement.
3.5. Where required by law, access to the Account and to the Customer Panel may require strong customer authentication or additional authorization.
3.6. The contract for electronic services between the Customer and Silvo is concluded:
a) upon entering the Silvo Application and ends upon exit—for general services that do not require a Contract;
b) upon conclusion of the Contract and lasts until the Contract terminates—for services requiring a Contract.
3.7. Materials in the Application are protected by copyright and industrial property laws. The Customer must respect such protections.
3.8. The Customer may use the Application only for the purposes and within the scope specified in these Terms and Conditions.
3.9. Additional optional services by Silvo or cooperating entities may be made available; their terms will be set out in separate regulations or agreements.
3.10. In particular, third-party payment-related services (e.g., account funding) provided by authorized providers cooperating with Silvo may be made available under separate agreements.
3.11. Use of the Application requires a mobile phone or similar device with Android or iOS capable of installing the Application and Internet access with a data rate of at least 512 Kbps (minimum technical requirements).

 

4. CONCLUSION OF THE CONTRACT AND ACCOUNT OPENING

4.1. The Contract for opening and maintaining an Account is concluded based on a Proposal submitted when opening the Account, and may only be submitted via the Application.
4.2. The Contract may be concluded only by a Customer who:
a) is a natural person with full legal capacity; and
b) is a consumer concluding the Contract for purposes not directly related to their business or professional activity.
4.3. When submitting a Proposal, the Customer must provide all necessary and truthful data.
4.4. When submitting a Proposal, the Customer must set a strong password and PIN that meet the minimum requirements specified in the Application.
4.5. By submitting a Proposal, the Customer accepts these Terms and Conditions and makes any statements required by Silvo and cooperating partners.
4.6. Upon acceptance of the Proposal by Silvo, the Customer and Silvo conclude the Contract.
4.7. By submitting a Proposal, the Customer simultaneously applies to conclude a Framework Agreement with Silvo in accordance with clause 7.
4.8. By submitting a Proposal, the Customer may also enter into optional agreements with third parties cooperating with Silvo.
4.9. Before and during the term of the Contract, Silvo may require documents and information necessary to fulfill obligations related to AML/CFT and to verify the Customer’s identity.
4.10. By using Silvo’s services, the Customer authorizes Silvo to make inquiries (directly or via third-party KYC providers) needed to verify identity, validate information, and protect against financial crime. If the Customer refuses to provide required KYC documents or information, Silvo may immediately cease providing services.
4.11. Acceptance of the Proposal and conclusion of the Contract will be communicated to the Customer via email to the address provided in the Proposal and via the Application.
4.12. Silvo may refuse to conclude the Contract for legitimate legal reasons, including failure or refusal to undergo KYC verification, notifying the Customer by email.
4.13. If a Customer who already uses Silvo’s services applies to open and maintain an account with a Partner, Silvo may enable the Customer to use Partner services within the Customer Panel without the verification referred to in 4.10.
4.14. The Contract is concluded in Polish or English; the Polish version prevails in case of discrepancies.

 

5. CUSTOMER ACCOUNT

5.1. The Account is activated upon conclusion of the Contract.
5.2. Account access is available after logging into the Application.
5.3. Login requires:
a) the Customer’s email address provided in the Proposal; and
b) the password set by the Customer.
5.4. Three failed attempts to provide correct login data will result in Account Blocking. In such case, the Customer should contact Silvo to restore access.
5.5. After logging into the Application, each access to the Account requires entering the Customer’s PIN. The Customer may enable biometric authentication to unlock the Application.
5.6. The Customer must maintain security measures to prevent unauthorized access or disclosure of data, including storing login and authorization data separately. The Customer must also comply with all security requirements under the Framework Agreement.
5.7. Certain Account actions may require additional authorization or authentication.
5.8. Silvo may temporarily interrupt access due to maintenance or upgrades.

 

6. ACCOUNT BLOCKING

6.1. If it is found or suspected that:
a) an unauthorized person has accessed or may access the Account (including due to loss, theft, or misappropriation of access data); or
b) the Account is being used without authorization,
the Customer must promptly notify Silvo and request Account Blocking.

6.2. Notifications may be submitted by email to [support@Silvo.com].
6.3. Silvo may temporarily block the Account in the event of:
a) suspected unauthorized use;
b) justified security concerns regarding the Application’s operation;
c) loss of access data or loss of access by the Customer;
d) cases specified by law;
e) violations of law, social norms, or good morals by the Customer;
f) requirements under AML/CFT regulations;
g) use of the Application or its features contrary to their intended purpose;
h) transmission of unlawful content;
i) blocking of the Customer Panel in accordance with the Framework Agreement;
j) occurrence of circumstances justifying termination without notice.
6.4. Silvo will promptly inform the Customer of the blocking and the reasons, by email to the address provided in the Proposal and within the Application.
6.5. Silvo will unblock the Account once the reasons cease.
6.6. Account Blocking does not limit Silvo’s right to terminate the Contract.

 

7. SERVICES PROVIDED BY SILVO

7.1. Silvo provides payment services to the Customer via the Customer Panel in accordance with the Framework Agreement.
7.2. In particular, Silvo will:
a) operate the Customer Panel;
b) provide access to payment services via the Customer Panel;
c) open and maintain payment and/or foreign-currency accounts in currencies available in the Customer Panel;
d) issue and process payment cards.
7.3. Silvo may provide other services under the Framework Agreement and relevant service terms.
7.4. The detailed scope of Silvo’s services, including within the Customer Panel, is set out in the Framework Agreement.
7.5. Silvo provides payment services only to Customers who have concluded a valid Framework Agreement.
7.6. Concluding the Framework Agreement is conditional upon:
a) the Customer simultaneously concluding the Contract with Silvo and Silvo opening the Account;
b) successful AML/CFT verification (verification takes place via the Customer Panel);
c) acceptance of the Framework Agreement and any applicable service terms; and
d) fulfillment of all requirements set out therein.
7.7. The Framework Agreement is concluded upon the Customer’s request submitted via the Account.
7.8. Upon conclusion of the Framework Agreement, the Customer concludes with Silvo:
a) an agreement for access to payment services via the Application;
b) an agreement to open and maintain a payment account;
c) a payment card agreement.
7.9. Immediately after conclusion, Silvo will provide the Framework Agreement to the Customer on a durable medium via the Customer Panel or by email to the address provided.
7.10. Templates of the Framework Agreement and applicable service terms are also available in the Application.

 

8. OBLIGATIONS OF SILVO

8.1. Silvo undertakes to:
a) provide the Customer with Account access in accordance with these Terms and Conditions;
b) deliver the services specified herein;
c) provide information required by applicable law; and
d) enable the Customer to use services of cooperating third parties via the Application.

 

9. OBLIGATIONS OF THE CUSTOMER

9.1. The Customer shall:
a) use the Application and Account only for lawful purposes and as intended;
b) protect all authorization and login data with particular care and refrain from disclosing them to third parties;
c) promptly notify Silvo of any irregularities in executed payment instructions and of theft or loss of authorization or login data;
d) keep Account data accurate and up to date without delay;
e) refrain from providing unlawful content via the Application or Account;
f) comply with all other duties set out in these Terms and Conditions.

 

10. LIABILITY

10.1. Silvo is liable for non-performance or improper performance of the Contract to the extent and on the terms provided by the Contract, these Terms and Conditions, and applicable law.
10.2. Silvo is liable for non-conformity of a digital service delivered once or in parts that existed at delivery and becomes apparent within two years. Any non-conformity apparent within one year of delivery is presumed to have existed at delivery.
10.3. Silvo is liable for non-conformity of a digital service provided on a continuous basis that occurred or became apparent at the time the service should have been delivered; non-conformity apparent at that time is presumed to have occurred then.
10.4. Silvo is not a party to, and is not affected by, the legal effects of agreements the Customer concludes with third parties via the Application.
10.5. Silvo bears no responsibility for the performance of services provided by third parties within the Application.

 

11. FEES AND COMMISSIONS

11.1. Use of certain Silvo services providing technical solutions that support payment services may entail fees or commissions payable by the Customer.
11.2. Partners may charge separate fees for their services, under their own fee and commission schedules.
11.3. Details of Silvo’s fees and commissions are available at https://www.Silvo.com and in the Application.

 

12. COMPLAINTS

12.1. The Customer may submit complaints regarding activities and services provided by Silvo.
12.2. Complaints may be submitted:
a) in writing to Waliców 11, 00-851 Warszawa, Poland; or
b) electronically to [support@Silvo.com] or via the contact form in the Application.
12.3. Silvo will respond without undue delay, no later than 30 days from receipt.
12.4. In particularly complex cases, Silvo will explain the reason for delay, indicate the circumstances to be established, and specify the expected response time, not exceeding 60 days from receipt.
12.5. The response deadline is met if the reply is sent before expiry of the deadline or, for written replies, posted with the designated postal operator before expiry.
12.6. Silvo will respond in writing or, with the Customer’s consent, on a durable medium by email.
12.7. A consumer Customer may use out-of-court dispute resolution before the Financial Ombudsman (details at www.rf.gov.pl). Customers may also use the EU ODR platform at https://webgate.ec.europa.eu/odr/main/index.cfm?event=main.home.show&lng=PL/.
12.8. The competent authority supervising consumer rights protection is the President of the Office of Competition and Consumer Protection (UOKiK).
12.9. Complaints about services provided by third parties shall be submitted in accordance with the rules applicable to those services.

13. AMENDMENTS

13.1. Silvo may amend these Terms and Conditions (including related regulations, appendices, and fee schedules) if:
a) new or amended laws are adopted, or authorities issue recommendations or interpretations requiring changes;
b) changes are aimed at enhancing security or personal-data protection;
c) changes improve the functionality of the Application, Account, or Silvo’s services;
d) adaptation is needed to market conditions or technological progress;
e) taxes or public-law charges affecting service provision change or arise;
f) it is necessary to maintain the market competitiveness of Silvo’s services;
g) Silvo’s operating costs change significantly, including increased costs of third-party services or infrastructure;
h) the manner or scope of services provided by Silvo or cooperating entities changes;
i) Silvo’s management takes reasonable internal decisions affecting these Terms and Conditions.
13.2. Silvo will inform the Customer of amendments on a durable medium no later than 30 days before they take effect.
13.3. Amendments will also be published in the Application.
13.4. Before the effective date, the Customer may object and terminate the Contract free of charge.
13.5. If the Customer does not terminate within this period, the Customer is deemed to accept the changes as of the effective date stated in the notice.
13.6. If the Customer objects, the Contract terminates on the day before the amendments take effect.

 

14. TERM AND TERMINATION

14.1. The Contract is concluded for an indefinite term.
14.2. The Customer may terminate on one month’s notice by sending a termination statement electronically to [support@Silvo.com].
14.3. Silvo may terminate on one month’s notice by sending a termination statement in writing to the Customer’s postal address or electronically to the Customer’s email address.
14.4. Silvo may terminate with immediate effect, by written or electronic notice, if:
a) there is reasonable suspicion the Customer engages in unlawful activity;
b) unlawful content is transmitted;
c) the Application is used for illegal purposes;
d) services of a cooperating third party are used unlawfully or in material breach of the relevant agreement;
e) the Customer materially breaches the Contract or these Terms and Conditions;
f) the Customer fails to provide required information or provides untrue information;
g) KNF, UOKiK, or another competent authority requests termination or amendment;
h) as a result of AML/CFT verification or subsequent analysis, termination of cooperation becomes necessary.
14.5. The Contract automatically terminates upon the Customer’s death or loss of legal existence.
14.6. Termination of the Contract automatically terminates those agreements that can only be performed via the Application, including the Framework Agreement for opening and maintaining a payment account and any payment card agreement concluded with Silvo.

 

15. RIGHT OF WITHDRAWAL

15.1. If the Customer is a consumer, for services requiring a Contract the Customer may withdraw without giving reasons within 14 days of conclusion.
15.2. The deadline is met if the withdrawal notice is sent before expiry. The Customer may submit the notice in writing to Waliców 11, 00-851 Warszawa, Poland or electronically to [support@Silvo.com].
15.3. A model withdrawal notice is attached as Annex 1.
15.4. The Customer bears no costs of withdrawal. Silvo may, however, request payment for services actually performed if performance began with the Customer’s consent before the withdrawal period ended.

 

16. FINAL PROVISIONS

16.1. Communication with the Customer is conducted in Polish and English. Contact Silvo at [support@Silvo.com] or in writing at Waliców 11, 00-851 Warszawa, Poland.
16.2. The Contract and related obligations are governed by Polish law.
16.3. Disputes not resolved amicably shall be submitted to the competent Polish courts.
16.4. These Terms and Conditions apply from 01 January 2025.
16.5. The annex forms an integral part of these Terms and Conditions.