Effective February 28, 2024

Complaint Policy

1. Purpose

1.1 This Policy is established in accordance with Art. 23(1) of law No. 17/2013, on the issuance and handling of electronic money.

1.2 The purpose of this Policy is to promote prompt, effective, and fair handling of customer complaints.

1.3 A complaint must be objectively based, according to Monerium, in order to be considered.

1.4 The objective of this Policy is to promote reasonable and sound practices within Monerium and to promote a stable and credible financial market.

2. Definitions

2.1 A customer is an individual or legal entity that has entered into a business relationship with Monerium, and its customer application has been accepted.

2.2 A complaint is a statement submitted in accordance with the instructions in section 3, by a customer towards the company relating to the customer dissatisfaction with Monerium service, case handling, or the handling of the business relationship.

3. Complaint submission

3.1 All complaints must be sent in writing to complaint@monerium.com.

3.2 If a complaint is not sent from the email address associated with the Monerium customer account, the complainant shall include personally identifiable information or the blockchain address linked to the customer account in the email so the complaint can be associated with the correct customer profile.

3.3 The subject of the email shall clearly state that its content includes a complaint.

3.4 The complaint shall be clearly stated, whereas its subject and the customer’s motive for the complaint submission can be well understood.

4. Customer confidential requirement

4.1 Monerium shall conduct its business in an honest and trustworthy manner. Business shall be handled diligently and professionally with the customers’ interests and the credibility of the financial market at the forefront.

4.2 It shall be ensured that customers are provided with all necessary information regarding the business relationship during and after it terminates in accordance with law and regulations.

4.3 Relevant information about the service and products we provide e.g. total costs, shall be provided clearly and understandably, beforehand and during the business relationship. More detailed information shall be provided if requested.

4.4 It shall be ensured that information about our service and products is not misleading or deceptive.

4.5 If Monerium intends to provide consulting, it shall be provided in a clear and understandable manner with the customer interests at the forefront.

4.6 Customers shall not be pressured to affect their decisions.

4.7 Monerium shall, as far as possible, reduce conflict of interest.

4.8 Policies, procedures, and processes shall not hinder or, in an unreasonable manner, block customer access to Monerium service.

5. Handling of complaints

5.1 It shall be ensured that complaints receive swift, effective, and fair handling.

5.2 Upon receiving a complaint, Monerium will acknowledge its reception and provide information regarding the complaint handling.

5.3 Response to a complaint shall be provided within four weeks. If it’s not possible to respond within that timeframe, the complainant shall be informed of the delay, its reasons, and when he/she can anticipate a response.

5.4 All information and data on the complaint shall be gathered and objectively assessed.

5.5 Information shall be provided in a clear and understandable manner.

5.6 If the complaint is not partly or fully taken into consideration, Monerium reasoning shall be provided in writing with accompanying information on the customer’s applicable legal remedies.

6. Vague complaints

6.1 Monerium shall request further information from the complainant if the complaint is vague.

7. Publication

7.1 This policy shall be available on the Monerium website along with further information regarding handling complaints. Clear information on how to submit a complaint is provided in section 3.

8. Legal remedies

8.1 Monerium shall provide information on legal remedies available to customers if disputes arise.

8.2 Customers can submit an appeal and seek a ruling with the Complaints Committee on Transactions with Financial Firms, according to Art. 42 of Act No. 17/2013, on the issuance and handling of electronic money.

8.3 The Complaint Committee is located at Guðrúnartún 1, 105 Reykjavik, with the email address fjarmal@nefndir.is and can be reached via the phone number +354 578-6500. Further information can be found on the Complaint Committee website nefndir.is.

8.4 It shall be stressed that Committee rulings do not prevent subsequent case handling by a court of law.

9. Complaint registry

9.1 Monerium will retain information on complaints and their handling for five years from the day of submission.

9.2 The following data and information will be retained.

– Complaint content and type.

– Date of the complaint.

– Data accompanying the complaint.

– Date of Monerium response.

– Monerium conclusion or stance to the complaint.