Terms & Conditions

Welcome to Pana! Our mission revolves around the purpose of having a healthy relationship with money where it is more friendly and social.

Please read these Terms and Conditions ("Terms", "Terms and Conditions") carefully before using the http://www.getpana.app website ("Pana App") and any applications we associate with these terms (the "Service" or "Services") operated by Pana Finance, Inc. ("us", "we", "our", or "Pana").

These Terms are a binding contract between you and Pana. Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who wish to access or use the Service.

You are responsible for obtaining and maintaining all devices and other equipment and software, as well as all Internet service providers, wireless service and other services necessary for your access to and use of the Site, and will be responsible for all charges related thereto.

By accessing or using the Service, you acknowledge that you have read, understood and agree to these Terms. If you do not agree with any part of the Terms, you are not permitted to access the Service, but please let us know by email to suppo[email protected] so that we can try to find a solution.

PANA IS A FINANCIAL TECHNOLOGY COMPANY AND IS NOT A BANK. ALL BANKING AND BANKING-RELATED SERVICES ARE PROVIDED BY PIERMONT BANK, A MEMBER OF THE FDIC. THE PANA DEBIT CARD IS ISSUED BY PIERMONT BANK PURSUANT TO A LICENSE FROM VISA U.S.A. Inc. AND MAY BE USED EVERYWHERE VISA DEBIT CARDS ARE ACCEPTED.

Banking Services

Banking services associated with our services are provided by Piermont Bank, Member FDIC. Your transactions will be processed through an FBO account that we maintain at Piermont Bank for the benefit of our customers or clients. We will provide you with a monthly summary statement describing your transactions. Your deposit balances at Piermont Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to the legal limit (currently $250,000 for each category of legal ownership).

Use of Pana's services

To access the Services, you must register a user account on the Application ("Pana App") and agree to the following Terms and Conditions.

You must be at least eighteen (18) years of age to use the Services. By agreeing to these Terms, you represent and warrant that: (i) you are at least eighteen (18) years of age; (ii) you have not previously been suspended, removed or disabled from the Services; (iii) you are a legal resident of the United States or its territories; (iv) and that the information you provide to us is accurate, complete and current at all times. Inaccurate, incomplete or outdated information may result in immediate termination of your account on the Service or a delay in processing your registration for the Pana Services. You are responsible for maintaining the confidentiality of your account and password, including, but not limited to, restricting access to your computer and/or account. You agree to accept responsibility for any and all activities or actions that occur under your account and/or password, whether with our Service or a third party service. You must notify us immediately upon becoming aware of any breach of security or unauthorized use of your account.

You may not use the Services in any manner that could impair, overburden, damage, disable or otherwise compromise (i) Pana's Services; (ii) any other person's use and enjoyment of the Services; or (iii) any third party's services and products, including, without limitation, any device through which you access the Application ("the Authorized Device"). You agree to comply with all applicable laws and regulations governing the download, installation and/or use of the Application, including, without limitation, any usage rules set forth in the online app store terms of use.

Application updates

From time to time, Pana may automatically check the version of the Application installed on the Authorized Device and, if applicable, provide updates to the Pana Application ("Updates"). Updates may contain, without limitation, bug fixes, patches, enhanced functionality, plug-ins and new versions of the Pana Application. By installing the Application, you consent to the automatic download and installation of Updates and agree to manually download and install any Updates if necessary. Your use of the Application and Updates will be governed by these Terms (as modified by any terms and conditions that may be provided with Updates). Pana reserves the right to temporarily disable or permanently discontinue any functionality of the Application at any time without notice and without liability to you.

Beta Features

From time to time, we may, in our sole discretion, include certain beta or test features in the Services ("Beta Features"). Use of any Beta Feature is voluntary. You agree that once you use a Beta Feature, your content or data may be affected in such a way that you may not be able to revert to an earlier, non-beta version of the same or similar feature. In addition, if such reversion is possible, you may not be able to return or restore data created within the Beta Feature to the previous non-beta version. Beta Features are provided "as is" and may contain errors or inaccuracies that could cause failure, corruption or loss of data and information from any connected device You acknowledge and agree that all use of any Beta Feature is at Your own risk.

Identity verification

You hereby authorize Pana, directly or through third parties, to make any inquiries we deem necessary to validate your identity and/or authenticate your identity and Account information. This may include requesting further information and/or documentation of your identity, or requiring you to take steps to confirm ownership of your email address or physical address/residence, mobile/cell phone number or financial instruments, and verifying your information against third party databases or through other sources.

Limitation of accounts

You may not create more than one (1) Pana Account. Each unique mobile device may not be associated with more than one (1) Account. Users who attempt to associate multiple mobile devices to a single Pana Account may be deemed to have violated these Terms to the extent Pana deems them to have abused the Services, and may be subject to Account suspension or termination.

Text messaging

By providing us with a phone number for a cell phone or other wireless device and opting in to transactional messaging, you agree to receive non-marketing related autodialed and prerecorded text messages from or on behalf of Pana at the phone number provided. Pana will send you news and updates, including recommendations to help you get the most out of your Pana account(s) and access certain Pana features. The frequency of messages varies.

By providing us with a cell phone number or other wireless device and opting in to receive promotional messages, you consent to receive autodialed and prerecorded text messages from Pana or on your behalf at the number provided for marketing or promotional purposes. The frequency of messages varies. You understand that consent to marketing-related messages is not a condition of using the Services. To stop receiving marketing-related messages, you must specify this in your user settings within the Application. Standard message and data rates may apply to both non-marketing and marketing-related messages. Carriers are not responsible for delayed or undelivered messages.

Push Notifications

By accepting these Terms, you agree to receive push notifications from us. You may opt out of receiving push notifications through your device settings. Please note that opting out of receiving push notifications may affect your use of the Services.

Third-party services

The Services, including our websites, may contain links to third-party websites. The linked sites are not under our control, and we are not responsible for the content of any linked site. We provide these links only as a convenience, and a link does not imply our endorsement, sponsorship or affiliation with the linked site. You should make such investigation as you deem necessary or appropriate before proceeding with any transaction with any of these third party websites or services.

User content

Pana does not claim ownership of the content you provide, upload, submit or send through the Services or to Pana. You understand and agree that all materials transmitted on or through the Services are the sole responsibility of the sender, not Pana, and that you are responsible for all material you provide, upload, submit or send to or through the Services. When you provide content to Pana or through the Services, you grant Pana (and the parties we work with) a non-exclusive, irrevocable, royalty-free, transferable, worldwide license to use your content and associated intellectual property rights and publicity in any manner and for any purpose, including to improve the Services and to create other products and services. Pana will not compensate you for any of your content. You acknowledge that Pana's use of your content will not infringe any intellectual property or publicity rights. You further acknowledge and warrant that you own or otherwise control all rights in the content you provide, and you agree to waive your moral rights and promise not to assert such rights against Pana.

Prohibited conduct

By using the Services, you agree not to do so:

  1. Breach these Terms or any other agreement between you and Pana or violate any Pana policy;
  2. Access or use any part of the Services for any non-personal, non-commercial purpose;
  3. Access or use the Services for illegal purposes or to violate any law, statute, ordinance or regulation;
  4. Attempting to gain unauthorized access to the Account of any other user;
  5. Modify or attempt to modify or otherwise tamper with, circumvent, disable, damage or interfere in any way with the Services;
  6. Access or use the Services in a manner that may infringe the intellectual property or other rights of third parties, including, without limitation, trademark, copyright, privacy or publicity rights; or
  7. Providing false, inaccurate or misleading information;
  8. Reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of the Services or any part thereof (including any Application), except and only to the extent that such activity is expressly permitted by applicable law notwithstanding this limitation;
  9. Modify, adapt, translate or create derivative works based on the Services or any part thereof, except and only to the extent that the foregoing restriction is expressly prohibited by applicable law; or
  10. Copy, distribute, transfer, sell or license all or part of the Services;
  11. Transferring the Application to, or using the Application on, a device other than the Authorized Device;
  12. Intentionally interfere with or damage the operation of the Services or any user's enjoyment of the Services by any means, including by uploading or disseminating viruses, adware, spyware, worms or other malicious code.
  13. Take any action to circumvent, compromise or defeat any security measures implemented on the Services;
  14. Use the Services to access, copy, transfer, retransmit or transcode information, logos, trademarks, brands, names or designs of Pana or any other content in violation of any law or third party rights; or
  15. Remove, obscure or alter Pana's (or any third party's) copyright, trademark or other proprietary rights notices affixed to or contained in or accessed through the Services.

Violation of any of the above is grounds for termination of your right to use or access the Services.

Modifications to these Terms

Pana reserves the right, in its sole discretion, to modify, augment, limit, suspend, discontinue or terminate any or all of the Services without notice. All modifications and additions to the Services shall be governed by these Terms, unless Pana expressly states otherwise in writing. Pana may, from time to time, modify the Terms. Please review these Terms periodically for changes. Your continued use of the Services after changes become effective constitutes your binding acceptance of such changes. In the event that a change to these Terms materially modifies your rights or obligations, we will make an effort to notify you of the change, for example, by sending you an email to the email address we have on file for you, or by presenting you with a pop-up or other notification through the Services when you log in, or by reflecting such modification in an Application Update, and we may require you to accept the modified Terms in order to continue using the Services. Irrelevant modifications will be effective upon posting, and material changes will be effective upon (a) your continued use of the Services with actual knowledge of the modification, or (b) thirty (30) days after the change. For the avoidance of doubt, disputes arising hereunder shall be resolved in accordance with the Terms in effect at the time the dispute arose. You can determine when these Terms were last revised by referring to the "LAST UPDATED" legend at the top of the then-current version of these Terms.

Remittance transaction services

Pana offers remittance transaction ("RT") services through the Pana application in partnership with Uniteller Service, Inc. All international money transmission for remittance transactions is provided by Uniteller Service, Inc. If you wish to use RT services, you must agree to Uniteller's User Agreement and Privacy Policy, both of which are located on the Pana application.

Subject to applicable rules, you may send one (01) RT per month up to $300 free of charge.

See below for a breakdown of RT costs:

1. One (01) RT per month up to $300 free of charge.

2. If you exceed the above threshold in the amount of RT or remittance amount, the RT will cost you $9.99.

For the avoidance of doubt:

- After the first RT is processed in a given month, any further RTs within that month will cost you $9.99 regardless of the amount.

- If the first RT in a given month exceeds $300, it will cost you $9.99.

*The above rules do not apply to Ambassador ("VIP") users.

For both Standard and VIP Users, the remittance transaction limits per User are: $2999.00 per day and up to $5000 per day, subject to Pana and Uniteller's internal review, due diligence and request for additional documentation. Please note that these limits may change even after the User has accepted and acknowledged these terms.

Ambassador/VIP Referral Rewards Program

VIP Referral Reward

Pana Finance Inc. ("Pana") is offering a Cash Referral Reward ("VIP Reward") to Ambassador users as an incentive to spread the word about the Pana application.

The VIP Reward consists of a three dollar ($3) reward offered to the Ambassador user for each new user who opens a Pana account with that Ambassador's referral link, once certain conditions are met.

Eligibility

The VIP Reward only applies to Ambassador Users. As a reminder, Ambassadors are chosen at Pana's sole discretion and will be invited to enroll in the Ambassador account as per provision 1.4 of the Consumer Deposit Agreement.

To apply and be considered for the Ambassador level, any interested user can send an email to [email protected] or communicate through Pana's social networks.

The following conditions must be met to receive the VIP Reward:

Certain restrictions and additional requirements may apply. For example, you may not be eligible for any rewards if your account has ever been suspended, frozen, deactivated or terminated for any reason, including, but not limited to, fraudulent or suspicious activity.

In addition, you may not be able to earn more than one thousand dollars ($1,000) per month in total Ambassador/VIP Referral Rewards Program incentives. In other words, you will only be eligible to receive a three dollar ($3) reward for the first three hundred and thirty-three (333) users you refer per month who fully meet the above requirements.

Payment

The Ambassador will receive a VIP Reward equal to the total aggregate amount of all successful referrals within each period on the 15th and 30th of each month directly into their Pana account.

Miscellaneous

Each VIP Reward is non-transferable, may not be combined with other offers and must be used in the currency in which it was received. You are responsible for any and all tax liabilities resulting from any VIP Reward.

Pana reserves the right to review, investigate and disqualify any VIP Reward that violates the Ambassador/VIP Referral Rewards Program, such as attempting to obtain multiple VIP Rewards through self-referrals or other similar means using a different email address, phone number or email address. other personal information through fraudulent and/or illegal means. Pana may delay any VIP Reward for investigative purposes and may refuse to verify and process any transaction for any reason.

By clicking on a referral link provided by the Ambassador user, the Referrer acknowledges that some of his or her personal information may be sent to the Ambassador user who provided the Referral Link as confirmation that the Referrer registered and/or created a Pana account.

Pana reserves the right to cancel the Ambassador/VIP Referral Rewards Program or change these Terms and Conditions at any time in its sole discretion. The Ambassador/VIP Referral Rewards Program is subject to modification or termination at any time without notice in Pana's sole discretion.

By participating in the Ambassador/VIP Rewards Program, both the Ambassador ("Referrer") and the Referred User agree to:

  1. Be bound by these Terms and Conditions, the decisions of Pana and its designees, and Pana's Privacy Policy;
  2. Defend, indemnify, release and hold harmless Pana, its affiliates and subsidiaries, together with their respective employees, directors, officers, licensees, licensors, shareholders, attorneys and agents, including, without limitation, their respective advertising and promotion entities and any person or entity associated with the production, operation or administration of the Ambassador/VIP Rewards Program (collectively, the "Released Parties"), from any and all claims, actions, demands, damages, losses, liabilities, costs or expenses caused by, arising out of, in connection with, or related to the Referrer's and/or Referral's participation in the Ambassador/VIP Rewards Program (including, without limitation, any property loss, damage, personal injury or death caused to any person and/or the award, receipt and/or use or misuse of the Program or any Reward).

Android or Apple devices

The following terms apply when you use a mobile application obtained from Google Play or the Apple App Store (an "App Reseller"): (1) the license granted to you for our mobile application is limited to a non-transferable license to use the application on a device using the Android or Apple operating systems, as applicable, and in accordance with the usage rules set forth in the applicable App Reseller's terms of service; (2) Pana is responsible for providing any maintenance and support services with respect to the Mobile App as specified in the terms and conditions of this Mobile App License contained in these Terms or as otherwise required under applicable law, and you acknowledge that each App Reseller has no obligation to provide any maintenance and support services; (4) you represent and warrant that (i) you are not located in a country that is subject to a U.S. or Canadian government embargo, or that has been designated by the U.S. or Canadian governments as a "terrorist supporting" country, and (ii) you are not on any U.S. or Canadian government list of prohibited or restricted parties; (5) you represent and warrant that (i) you are not located in a country that is subject to a U.S. or Canadian government embargo, or that has been designated by the U.S. or Canadian governments as a "terrorist supporting" country, and (ii) you are not on any U.S. or Canadian government list of prohibited or restricted parties or Canada; (5) you must comply with applicable third party terms of agreement when using the mobile application, for example if you have a VoIP application, then you must not violate your wireless data service agreement when using the mobile application; and (6) you acknowledge and agree that the App Resellers are third party beneficiaries of the terms and conditions of this mobile application license contained in these Terms, and that each App Reseller shall have the right (and shall be deemed to have accepted the right) to enforce the terms and conditions of this mobile application license contained in these Terms against you as a third party beneficiary thereof.

Prohibited for use by minors

Our Site and Services are not intended for persons under the age of majority where they reside, and in no event may our Services be used by persons under eighteen (18) years of age.

Privacy

Without limiting the generality of these Terms, your use of the Site and Services is also subject to the terms of our Privacy Policy.Please carefully review our Privacy Policy for information relating to our collection, use, and disclosure of your personal information.By using the Site, you acknowledge that you have read, fully understood, and agree to be legally bound by our Privacy Policy.

Fees and payments

(a) Fees for access to the Services. We reserve the right at any time to charge for access to portions of the Services or the Services as a whole. However, in no event will you be charged for access to the Services unless we obtain your prior agreement to pay such charges. Therefore, if at any time we require a fee for portions of the Services that are now free, we will give you advance notice of such fees. You may terminate your account at any time in accordance with the Termination section. All new fees, if any, will be prominently posted on the Platform and other appropriate places on the Service. You shall pay all fees and charges incurred through your account at the rates in effect for the billing period in which such fees and charges are incurred, including, but not limited to, charges for any products or services offered through the Services by us or any other vendor or service provider. If you choose to pay such fees with a credit card, you hereby (a) authorize Pana to charge such fees to such credit card account and to verify that the credit card account has the necessary funds or credit to cover your purchase and (b) agree to provide Pana with updated information about your credit card account promptly when the information changes, or upon Pana's request. You shall pay all applicable taxes related to your use of the Services through your account.

(b) Other Fees and Limits. You acknowledge and agree that your use of the Services may result in other fees, charged by a third party, that are separate and in addition to the fees charged by Pana. Pana is not responsible for fees charged by third parties. For example, Pana or an ATM operator may impose a fee for use of the Debit Card at an ATM, including for a balance inquiry, and for any network used to complete the ATM transaction, as described in the terms and conditions of your Debit Card. In order to manage risk, we may limit the payment methods available when you make a payment. Fees and limits may change from time to time at our sole discretion.

Intellectual Property

You hereby acknowledge that Pana owns all right, title and interest in and to the Services and all proprietary and confidential information contained therein ("Pana Information"). The Services and Pana Information, including visual interfaces, graphics, design, compilation, information, computer code (including source code or object code), products, software, services, look and feel, and all other elements of the Services, are protected by applicable intellectual property and other laws, including patent, copyright, trade secret, trademark, trademark, unfair competition, and any and all other proprietary rights, and any and all applications, renewals, extensions and restorations thereof, now or hereafter in force and effect throughout the world.

DMCA Notice and Procedure for Copyright Infringement Claims

You may file a notice under the Digital Millennium Copyright Act (DMCA) by providing our Copyright Agent with the following information in writing (see 17 U.S.C. 512(c)(3) for details):

You can contact our Copyright Agent via email at [email protected].

Indemnification

To the fullest extent permitted by law, you agree to indemnify, defend and hold Pana and all of its successors, parents, subsidiaries, affiliates, officers, directors, shareholders, investors, employees, agents, representatives and attorneys and their respective heirs, successors and assigns (collectively, the "Indemnified Parties"), from and against any claims, liabilities, losses, damages, costs and expenses, including, without limitation, reasonable attorneys' fees, incurred by the Indemnified Parties arising out of or related to (i) your access, use or alleged use of the Services; (ii) your violation of these Terms and Conditions or any representation, warranty or agreement referenced herein, or any applicable law or regulation; (iii) your violation of any third party rights, including, without limitation, any intellectual property, publicity, confidentiality, proprietary or privacy rights; or (iv) any dispute or problem between you and any third party. We reserve the right, at our expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, and in such case, you agree to cooperate with our defense of such claim. You shall cooperate as fully as reasonably required in the defense of any claim. Pana reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. You agree not to settle any matter without Pana's prior written consent.

Disclaimer; no warranties

THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. EXCEPT AS REQUIRED BY LAW, PANA DISCLAIMS ALL WARRANTIES AND REPRESENTATIONS REGARDING THE SERVICES OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY, ACCURACY, QUIET ENJOYMENT, NON-INFRINGEMENT OF THIRD PARTY RIGHTS, FREEDOM FROM VIRUSES OR OTHER HARMFUL CODE, FITNESS FOR ANY PARTICULAR PURPOSE, OR ANY WARRANTY ARISING OUT OF COURSE OF DEALING, USAGE OR TRADE. SPECIFICALLY, BUT WITHOUT LIMITATION, PANA DOES NOT WARRANT THAT (1) THE INFORMATION PROVIDED ON THE SERVICES, OR THAT MAY BE OBTAINED FROM THE USE OF THE SERVICES, WILL MEET YOUR NEEDS OR WILL BE CORRECT, ACCURATE, CURRENT, OR RELIABLE; (2) THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE; (3) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SERVICES WILL MEET YOUR EXPECTATIONS; OR (4) ANY ERRORS IN THE TECHNOLOGY WILL BE CORRECTED. YOU ASSUME THE ENTIRE RISK OF ALL DAMAGES, INCLUDING DAMAGE TO YOUR COMPUTER SYSTEM, MOBILE DEVICE OR LOSS OF DATA THAT MAY RESULT FROM YOUR USE OF OR ACCESS TO THE SERVICE. YOU HEREBY ACKNOWLEDGE THAT YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK.

Limitation of liability

In no event shall Pana Finance, Inc, nor its directors, employees, partners, agents, suppliers or affiliates, be liable for any indirect, incidental, special, consequential or punitive damages, including, without limitation, loss of profits, data, use, goodwill or any other tangible or intangible loss, resulting from (i) your access to or use of, or inability to access or use, the Service; (ii) any conduct or content of any third party or Customer/Contractor posted or displayed on the Service, including, but not limited to, information submitted or posted on "Circle Interactions"; (iii) any content obtained from the Service; and (iv) unauthorized access, use or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), statute or any other legal theory, whether or not we have been advised of the possibility of such damages, and even if a remedy set forth herein is deemed to have failed of its essential purpose.

Any information or Content posted or transmitted privately through the Services is the sole responsibility of the person from whom such Content originated. You access all such information and Content at your own risk, and we are not responsible for any errors or omissions in such information or Content, or for any damage or loss you may suffer in connection with your access to such information or Content. We cannot control and have no obligation to take any action in connection with how you may interpret and use the Content or any actions you may take as a result of your exposure to the Content, and you release us from any and all liability for your having acquired or not acquired Content through the Services. We cannot guarantee the identity of the members you interact with when using the Services and are not responsible for which members access the Services.

Applicable Law

Except as otherwise required by applicable law, these Terms and Conditions shall be governed and construed in accordance with the laws of the State of New York without regard to its conflict of laws principles. These laws will apply no matter where in the world you live, but if you live outside of the United States, you may be entitled to the protection of the mandatory consumer protection provisions of your local consumer protection law.

General

If any provision of these Terms is held by a court to be invalid or unenforceable, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us relating to our Service, and supersede and replace any prior agreements we may have had between us relating to the Service. Your rights and obligations hereunder may not be assigned, subcontracted, delegated or otherwise transferred by you without the prior written consent of Pana, and any attempted assignment, subcontract, delegation or transfer in violation of the foregoing shall be null and void. We may assign these Terms or any of our rights or obligations hereunder at any time without notice to you. Our failure to require performance of any provision shall not affect our right to require performance at any time thereafter, nor shall any waiver of any breach or failure to perform under these Terms constitute a waiver of any subsequent breach or failure to perform or a waiver of the provision itself.

Users inter

The Services may be accessed from countries around the world and may contain references to Services and Content that are not available in your country. Such references do not imply that Pana intends to announce such Services or Content in your country. The Services are controlled and offered by Pana from its facilities in the United States of America. Pana makes no representation that the Services are appropriate or available for use in other locations. Those who access or use the Services from other countries do so at their own volition and are responsible for compliance with local laws.

Informal dispute resolution

We want to address your concerns without the need for a formal legal case. Before filing a claim against Pana, you agree to attempt to resolve the Dispute informally by contacting [email protected]. We will attempt to resolve the Dispute informally by contacting you via email. If the Dispute is not resolved within fifteen (15) days of your submission, you or Pana may initiate formal proceedings.

Judicial litigation forum

Unless otherwise required by applicable law, in the event that either party is required to initiate a formal proceeding, you and Pana agree that any court proceeding will be held in the courts of New York, State of New York. We both agree to waive our right to a jury trial.