GENERAL INFORMATION ON RULES APPLICABLE TO PAYMENT TRANSACTIONS

ONE.- About RIA

Ria Payment Institution E.P., S.A.U. (hereinafter, RIA), with registration number (CIF) A- 80696792 and head office located at Calle Cantabria 2, 28108, Alcobendas, Madrid (Spain), is authorised by the Ministry of Economy and Treasury of Spain as a Payment Institution since 28 July 2011 and is authorised to provide payment services in Portugal. RIA holds license number 6842 with Bank of Spain (RIA´s license details can be accessed at www.bde.es). RIA may be contacted by mail at its head office address indicated herein, by phone (+34 91 7613760) or by email at TitularServicioCliente@riafinancial.com.

The purpose of these General Information is to provide the Customer with additional information applicable to the RIA’s provision of payment services regulated in Decreto-Lei n.º 91/2018, de 12 de novembro (hereinafter "Payment Services Act"),  connected with the execution of Payment Transactions by signing, where appropriate, the respective individual contracts establishing the specific conditions applicable to the specific payment service in question (hereinafter, the "Individual Payment Orders").

TWO.- Definitions

The following terms used throughout this General Information shall have the meaning and scope indicated below:

“Beneficiary” means a natural or legal person or an organization without legal personality having legal capacity under law intended to receive funds from a Sender.

"Business Day" means the day from Monday to Friday, excluding public holidays in accordance with relevant provisions of law, and with regard to the date of execution of the Payment Transaction by RIA acting as the payment service provider of the Sender, also excluding days in which the activity required to perform the Payment Transaction is not carried out in the country of the Beneficiary’s service provider.

“Customer” means, (i) in the context of a "consumer",  a natural person who, in payment service contracts, acts for purposes unrelated directly to his commercial or professional activity; and (ii) in the context of a "Non-consumer", a legal person, an organization without legal personality having legal capacity under law or a natural person acting in payment service contracts for purposes related directly to his commercial or professional activity.

“Money Remittance” means a payment service that allows funds to be received from a Sender without creating a payment account in the name of the Sender or the Beneficiary, for the sole purpose of transferring an equivalent amount to a Beneficiary or to another payment service provider that acts on behalf of the Beneficiary, or funds to be received on behalf of the Beneficiary and making them available to the Beneficiary;

“Payment Transaction” means an action, initiated by the Sender or by the Beneficiary, as the case may be, consisting of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the two; and

“Sender” means a natural or legal person or an organization without legal personality having legal capacity under law who gives a Payment Transaction instruction for the payment of funds to a Beneficiary.

THREE.- Scope of application

This General Information apply to the following payment services that are provided in the territory of Portugal:

·         Money Remittance.

FOUR.- Actions of the Customers

When contracting any product or service associated with Payment Transactions, the Customer shall be considered a “consumer” or “non-consumer” as provided by applicable regulations.

FIVE.- Information obligations prior to the issuance of a Payment Transaction

The Sender and Beneficiary must provide RIA with all information and documentation requested by RIA necessary to perform the obligations of RIA resulting from provisions of law on the prevention of money laundering and terrorist financing, that may include without limitation the following:

Data relating to natural persons: Full name, surnames, valid and in force identification document (residence card, ID card, passport or valid and in force identification document of the country of origin that includes photograph and signature), nationality, profession, date and place of birth, valid postal address, telephone and purpose for which the Payment Transaction is made.

Data relating to legal persons and an organization unit without legal personality having legal capacity under law: Deed of incorporation, Articles of Association, Certification of the Companies Registry (and which shall at least indicate the name, the legal form, the address of the registered office and if different principal place of business, the identity of the directors or managers of the legal person, excerpt of the corporate resolution  authorising the entry into the relationship and any provision governing the power to bind the legal person), Corporation Tax Code. When beginning the relationship, information will be requested on the shareholding and control structure of the company.

The Sender must provide data relating to the Payment Transaction specified by RIA in the Individual Payment Order. In case of Payment Transactions in which the funds are placed into a bank account, the Sender must also provide Beneficiary’s bank account number. The Sender undertakes to verify the accuracy and integrity of the data relating to the Payment Transaction it orders RIA to perform the execution of any of the payment services described in Section Three of this General Information, especially as regards the identification details of the Beneficiary and the economic terms of the Individual Payment Order. Individual Payment Order will have a unique number for future tracking or a unique identification number. Such Individual Payment Order for the purposes of the Payment Services Act and relevant local legislation, shall be considered the individual contract that will govern that Payment Transaction.

When a Payment Transaction is executed in accordance with the data received from the Sender and recorded in the Individual Payment Order, it will be considered to have been correctly executed in relation to the specified Beneficiary, and in the case of indicating by the Sender in the Individual Payment Order the Beneficiary’s bank account number – when it has been executed in accordance with such bank account number, regardless of any other additional data provided by the Sender in the Individual Payment Order. If the bank account number provided by the Sender in the Individual Payment Order is incorrect, RIA will not be responsible for the non-execution or defective execution of the Payment Transaction.

Within the scope permissible under provisions of law, RIA will store the copies of the identification documents of the Customers in optical, magnetic or electronic format to guarantee their integrity, the correct reading of the data, the impossibility of their manipulation and their adequate conservation and localisation.

Within the scope required under provisions of law, RIA may request for the amount of the Payment Transaction to be credited into a bank account held by RIA.

Furthermore, enhanced due diligence measures for the identification and better knowledge of the Customers will be adopted if necessary to perform obligations of RIA resulting from provisions of law on the prevention of money laundering and terrorist financing in accordance with law requirements but also in any case when the amount of a Payment Transaction, either individually or accumulated for a certain period exceeds that other amount to be determined by RIA from time to time in line with applicable laws.

In the event that you have at any time selected digital delivery of your receipt, you can select to change this option to receive your receipt in paper form at the time of submitting an Individual Payment Order.

SIX.- Expenses and applicable fees

For RIA´s provision of payment services, including Money Remittance, the Customer, whether acting as Sender or as a Beneficiary, must pay RIA the expenses and commissions applicable to the Payment Transaction in question in accordance with the settlement that is carried out in the Individual Payment Order.

The Beneficiary of a Payment Transaction will be paid the full amount recorded in the Individual Payment Order, however the Beneficiary agrees that when RIA is acting as the Beneficiary’s payment service provider RIA may deduct its expenses from the amount transferred before paying it.

If the payment service provider of the Sender or Beneficiary is different from RIA, such payment service provider may charge fees and taxes associated with the Payment Transaction in accordance with the rules set out in relation between the Sender or the Beneficiary and his/her payment service provider.

In the event that three (3) months have elapsed since the receipt of funds for Payment Transactions without the payment order having been paid to the Beneficiary and the funds being returned to the Sender for reasons out of RIA´s control, RIA may charge a monthly fee against such funds for the purpose of compensating RIA for those reasonable costs incurred by RIA in connection with RIA´s efforts to reimburse the Sender the outstanding funds and RIA´s management of the funds while in its possession. The maximum fees applicable by RIA for those costs incurred by RIA as provided herein are set out in the fees table at the end of this General Information.

Information regarding the conditions on RIA´s provision of payment services, including Money Remittance, is provided free of charge to the Customer. However, RIA may pass on to the Customer the expenses caused by the revocation of Payment Transactions and those that arise from the recovery of funds for Payment Transactions with an incorrect Beneficiary’s bank account number provided by the Sender in the Individual Payment Order.

The exchange rates applicable, as the case may be, to the currency conversion implicit in the Individual Payment Order will be made available to Customers along with the commissions applicable to the Payment Transaction and will be accepted by the Customer with the signature of each Individual Payment Order.

SEVEN.- Consent, irrevocability and cancellation of Payment Transactions.

Consent:

The consent of the Sender to the execution of a Payment Transaction is provided by signing the corresponding Individual Payment Order.

The Costumer is obliged to store the document evidencing the Individual Payment Order provided to him/her by RIA with due diligence, keep it safe and secure it from disclosure to any third party.

Irrevocability:

The Sender may not revoke a Payment Transaction order or withdraw his/her consent to the execution of a Payment Transaction after the order has been received by RIA and funds has been sent to the payment service provider of the Beneficiary.

Cancellation of Payment Transactions:

The Sender may cancel a Payment Transaction at any time past to the dates of irrevocability indicated above if the Payment Transaction has not yet been paid at the destination country to a Beneficiary. RIA may charge expenses for the cancellation of the Payment Transaction as agreed with the Sender for any Individual Payment Order.

When a Sender wishes to cancel a Payment Transaction in person, he/she must appear at the establishment where he/she ordered it with the respective Individual Payment Order receipt. Only after verifying that the Payment Transaction has not been paid at the destination country to a Beneficiary, RIA shall proceed with the cancellation of the Payment Transaction.

If a Payment Transaction is cancelled, RIA will reimburse the funds to the Sender through the agent, through its own RIA store/s or through a deposit into the Sender's bank account.

EIGHT.- Execution of payment transactions

8.1. Receiving Payment Transactions

The time of receipt of a Payment Transaction is the date on which the Individual Payment Order and the corresponding funds are received by RIA. If the time of receipt is not a Business Day for RIA, the Payment Transaction will be deemed to have been received the following Business Day.

RIA reserves the right to refuse the execution of a Payment Transaction where a provision of an individual contract, including the provisions of the terms & conditions in an Individual Payment Order, are not met, and also in situations specified by law, including:

a)    if, prior to the execution of a Payment Transaction, the Sender does not provide RIA with all funds, including when the Sender provides funds by card payment, where such payment instrument is accepted by RIA,

b)    if the Sender was unable or refused to provide the required information and/or documentation,

c)     in the cases specified in the provisions of law on the prevention of money laundering and terrorism financing,

d)    in the event of RIA having reasonable grounds for suspecting that execution of Payment Transaction is the result of fraud, or

e)    when in accordance with applicable provisions of law, it requires additional verifications and prevents the immediate execution thereof

In the event that RIA rejects the execution of a Payment Transaction, it will notify the Sender of said refusal and, if possible, the reasons for it, as well as the procedure to rectify possible errors that led to such refusal, unless any applicable law or regulation prohibits such notification.

Payment Transactions rejected will not be considered as received for the purposes set out in Section 8.2 of this General Information.

8.2. Term of execution

8.2.1 Payment Transactions in which the Customer is the Sender

a)       In case of Payment Transactions made in the currency of one of the member states of the European Economic Area (EEA), where Beneficiary’s payment service provider is located within the EEA, RIA will ensure that the amount of the Payment Transaction is paid into the account of the Beneficiary's payment service provider at the latest, at the end of the Business Day following the time of receipt of the Payment Transaction order. These terms will be extended by one Business Day in the case of paper-initiated Payment Transactions.

b)       In case of Payment Transactions other than those indicated in point a) above the execution deadlines will depend on the Beneficiary's payment service provider, with RIA undertaking to pay the amount of the Payment Transaction into the account of the Beneficiary's payment service provider within a maximum period of four (4) Business Days from the receipt of the Remittance order.

8.2.2 Payment Transactions in which the Customer is the Beneficiary. In the case of Payment Transactions in which the Customer is the Beneficiary, RIA will make available the funds of the Payment Transaction no later than the Business Day on which the funds have been received by RIA.

8.2.3 Collecting the Payment Transaction by the Beneficiary

The Beneficiary can collect the amount of Payment Transaction within a period of not less than 21 days from the moment of execution of Payment Transaction. Within not more than 9 days of the expiry of that period, RIA shall recognize the amount of Payment Transaction as not collected by the Beneficiary about which RIA will inform the Sender via SMS. From the moment of informing the Sender about recognizing the amount of Payment Transaction as uncollected, the amount of Payment Transaction is made available to the Sender for return in any of the RIA facilities (including RIA´s agents’ facilities) serving clients in Portugal.

8.3. Safeguarding measures

In the event that funds received from Senders or received through another payment service provider to be paid to the Beneficiary are in RIA's possession at the end of the Business Day following the day they were received, they will be deposited in a separate account in a credit institution or will be invested in safe, liquid and low risk assets as established by applicable laws and regulations.

8.4 Staged Sending Service

RIA may make the Staged Sending Service available to those Senders who wish to use that service. By means of this service, Senders can use the RIA application (available for iOS and Android) to execute Payment Transactions in which the transaction is configured and subsequently, once the Payment Transaction is configured, is paid via cash or credit card on the same business day to an RIA agent who has available the Staged Sending Service.

In order to use the Staged Sending Service, Senders must, after downloading the RIA application, proceed to be registered in the application by providing the personal information required by RIA at any given moment. Said information may contain, among others, the Sender's name and surnames, email address, the Sender's nationality, date of birth, profession, recommendation code or telephone number. Furthermore, to initiate the configuration of any Staged Sending Service Payment Transaction through the RIA application, it will be necessary to furnish all the required details of the transaction as well as of those Beneficiaries to whom it is wished to send a money remittance, including but not limited to the country to which the funds will be sent, the Beneficiary's details (name, surnames, nationality and/or identification document etc.), the amount to be sent (in Euros), the amount to be received by the Beneficiary (in the designated local currency), the manner of receipt by the Beneficiary (which shall include those entities which can execute the payment to the designated Beneficiary in the country where the Beneficiary receives the funds) or the method of payment of the Payment Transaction by the Sender. The Sender may cancel the Payment Transaction during its configuration. On the basis of the information provided during the configuration of a Payment Transaction, RIA will indicate to the Sender the cost of the Payment Transaction prior to the Sender proceeding to the validation of the Payment Transaction.

During the registration process in the RIA application and the configuration of any Payment Transaction, RIA may require the Sender to verify the mobile device from which he/she is operating, by sending a SMS to the mobile phone furnished in order to be entered in the corresponding boxes provided by RIA within the application. In either event, prior to executing any Payment Transaction, the Sender must accept the privacy policy and the Terms and Conditions. RIA will save by default those Beneficiaries included by the Sender. Once the Payment Transaction has been configured and validated by RIA and the Sender, the latter will receive a barcode identifying the newly configured Payment Transaction. Subsequently, the Sender will be able to access the list of RIA agents in the application where he/she will be able to disburse the funds of the payment transaction. In either event, RIA will indicate to the Beneficiary the amount to be paid in the local currency and the amount to be received by the Beneficiary at destination, with a breakdown in the former instance of the costs of the Payment Transaction that RIA will charge the Sender. To execute the Payment Transaction, the Sender must visit an authorised RIA location of its agent network which provides the Staged Sending Service, show the barcode of the Payment Transaction and his/her valid and in force identification document in accordance with the applicable regulations at any given moment. Once the RIA agent validates all this information, the agent will confirm to the Sender that he/she may proceed to pay the Payment Transaction. Once paid, the Sender will receive a receipt for the Payment Transaction from the agent or will receive the receipt via the RIA application. In those cases where the agent so requests, the Sender must proceed to sign the Payment Transaction receipt. In those cases where RIA provides an electronic receipt, the Sender will not be required to sign a receipt and will only receive a cash receipt from RIA's agent and the Sender must access the RIA application if he/she wishes to access the Payment Transaction receipt. All Staged Sending Service Payment Transactions, once validated and consent granted via the RIA Application, must be paid on the same business day before 11.59 p.m. In the event that the Payment Transaction is not paid by the Beneficiary the transaction will be automatically cancelled. RIA recommends Senders to check the agent's opening hours prior to visiting an agent.

NINE.- Payment Transactions involving currency conversion and currency exchange services

RIA will make available to its Senders the currency exchange rates applicable to Payment Transactions. In any event, the exchange rates shall be communicated to Senders prior to the Sender´s acceptance to issue a Payment Transaction order and will be included in the Individual Payment Order that includes the settlement thereof.

Payment of the amount to the Beneficiary of the Payment Transaction ordered by the Sender will be made in the currency and through the payment method available through RIA (for example in cash or by crediting the Beneficiary´s bank account) as agreed between RIA and the Sender. If the Beneficiary agrees with its service provider to convert the pay-out amount into a different currency or change the payment method, such transaction shall be separate and apart from the Payment Transaction sent by RIA, and solely between the Beneficiary and its service provider.

TEN.- Payment Transactions not authorised, non-executed or executed defectively

When the Customer is aware that an unauthorised, non-executed or defectively executed Payment Transaction has taken place, it must communicate this fact without undue delay to RIA in order to proceed with the correction to RIA´s Customer Service contact details set out below in Section 13. The Customer may be required to provide information pertaining to the Payment Transaction and/or other information determined by RIA in accordance with applicable provisions of law for identification purposes.

Except in those cases in which RIA has not provided or made available to the Customer the information corresponding to the Payment Transaction, the communication referred to in the preceding section must occur within a maximum period of thirteen (13) months from the day on which a particular unauthorised or defectively executed Payment Transaction was executed or from the day on which a particular Payment Transaction was to have been executed or date of payment to the Beneficiary, as the case may be, of the amount of the Payment Transaction.

When RIA is acting as payment service provider of the Sender:

-          In case of an unauthorised Payment Transaction, RIA will immediately refund to the Sender the amount of the unauthorised Payment Transaction and in any event no later than by the end of the following Business Day, after noting or being notified of the transaction, except where RIA has reasonable grounds for suspecting fraud and communicates those grounds to the relevant national authority in writing.

-          In case of a defective execution or non-execution of the Payment Transaction for which RIA is liable, RIA will immediately refund to the Sender the amount of the defective or non-executed Payment Transaction.

When RIA is acting as the payment service provider of the Beneficiary and in case of a defective execution or non-execution of the Payment Transaction for which RIA is liable, RIA will immediately place the amount of the defective or non-executed Payment Transaction at the Beneficiary disposal.

ELEVEN.- Data Protection

For purposes of this Article, “Data Controller”, “Personal Data”, “Processing” and “Data Subject” shall have the meanings ascribed to them in the EU General Data Protection Regulation (GDPR) (2016/679) and in the data protection laws and requirements that apply to the parties in the different EU member states in relation to the agreement between RIA and a Customer (“Applicable Data Protection Laws”).

RIA acts as Data Controller in respect of the Personal Data that it processes in the context of the services provided under these Terms and Conditions.

For information on how RIA may Process Customer’s Personal Data, the types of Personal Data RIA may collect, how RIA uses, shares and protects these Personal Data, Customer’s data protection rights, and how to contact RIA about its privacy practices, please consult our Privacy Notice available at www.riamoneytransfer.com or in the premises of the RIA’s agents in Portugal.       

Customer acknowledges that certain Personal Data on Customer and Customer’s personnel may be disclosed, transferred to, or stored by RIA, its group companies or third parties if such disclosure, transfer or storage is reasonably necessary or desirable for purposes of entering into or performing obligations under the agreement with Customer. Customer’s Personal Data may be transferred outside of the European Economic Area to countries where the laws may not offer the same level of data protection as the country in which the Personal Data were initially collected. In that case, RIA implements required mechanisms to ensure that the transferred Personal Data receives adequate levels of protection in accordance with applicable law.

Notwithstanding any of the foregoing, RIA shall keep confidential all information relating to the Payment Transactions and other operations of Customers without such information being disclosed to third parties unless otherwise being  necessary to perform the payment services established in Section 3, above, or should applicable laws and regulations allow to disclose any such information to third parties, including without limitation governmental agencies or within the framework of compliance with obligations established in laws for the prevention of money laundering and terrorism financing. This provision shall apply without prejudice to the provisions set out in applicable personal data protection regulations.

TWELVE.- Applicable legislation and language

The Individual Payment Orders and relations between RIA and Customer are governed by Portuguese law.

The language applicable to the contractual relationship between RIA and the Customer is Portuguese.

If you wish to receive the service in English, you must indicate this and accept the terms and conditions in English.

In case of conflict, the competent jurisdiction shall be determined by the applicable law. Without prejudice to the use of competent judicial means and for disputes of equal or lesser value than the jurisdiction of first instance courts (€5,000.00), the Customer may resort to the following alternative dispute resolution entities, to which RIA has adhered:

-          Lisbon Consumer Conflict Arbitration Center (CACCL), Rua dos Douradores, No. 116 - 2nd floor, 1100-207 Lisbon - Tel: (+351) 21 880 70 30 - email: juridico@centroarbitragemlisboa.pt

-          Porto Consumer Information and Arbitration Center (CICAP), Rua Damião de Góis, No. 31, Shop 6 - 4050-225 Porto - Phones: +351225508349/+351225029791, Fax: +351225026109, Email: cicap@cicap.pt

THIRTEEN – Customer Service & Complaints procedure

For any questions or concerns about a Payment Transaction executed with RIA or these General Information, you may contact RIA´s Customer Service:

RIA CUSTOMER SERVICE

RUA DOS FANQUEIROS 206,
1100-107 Lisboa (Portugal)
+34914679760

Customers must submit their complaints for addressing any dispute, (i) in person at any of the RIA facilities serving clients (including RIA´s agents facilities); (ii) by e-mail to TitularServicioCliente@riafinancial.com; (iii) by post to the attention of the Customer Service Representative of RIA PAYMENT INSTITUTION, E.P., S.A.U., Calle Cantabria 2, 28108 Alcobendas, Madrid (Spain); or (iv) by telephone at +34914679760.

The Customer Service Department will reply to the complaints submitted by Customers in writing or – if the Consumer indicated an e-mail address for this purpose – at such e-mail address within a maximum period of fifteen (15) Business Days of receipt of the complaint, unless for exceptional circumstances (to be notified by RIA to the Customer within such period) the deadline of the final reply needs to be extended to no more than thirty five (35) days from the receipt of the complaint. In order to meet the time limit it is sufficient that an answer is sent before the expiration date time.

If the Consumer is not satisfied with the way of the complaint being resolved, the Consumer is entitled to exercise his/her right to out-of-court dispute resolution according the conditions of section twelve of this Terms and Conditions.

The Customer may submit its claim to:

1. Banco de Portugal (BdP)
   (https://clientebancario.bportugal.pt/)
   By post at:
   Banco de Portugal, Apartado 2240, 1106-001 Lisboa.
   By Email at:
   info@bportugal.pt; or
   
2. Banco de España (Site: www.bde.es)
   By post at:
   Banco de España
   Departamento de Conducta de Mercado y Reclamaciones
   C/ Alcalá 48, 28014 Madrid, Spain
   Tel.: (+34) 900 54 54 54 / (+34) 91 338 8830

The decision of the BdP or Banco de España is not mandatory for us or you;

You shall always have a right to apply to the court with a claim. You may exercise this right even before (or after) the dispute was resolved by the Bank of Spain or the BdP.

Any dispute arising out of or in connection with the Terms and Conditions, including without limitation any disputes regarding its valid conclusion, existence, nullity, breach, termination or invalidity shall be finally referred to and resolved by the courts of Spain, except where prohibited or otherwise required by EU law. Before referring the dispute to court, you and we will endeavor to resolve the dispute by amicable negotiations.

MAXIMUM FEES

The current fees of Ria Payment Institution E.P., S.A.U. (hereinafter, RIA) are not subject to any type of review by the Bank of Spain, are the MAXIMUM and apply to all Customers, both consumers and non-consumers, with RIA reserving the right to apply lower fees to its Customers for any of the items outlined.

1.- ADDITIONAL SERVICES

Revocation, Cancellation or modification of money remittances (Note 1)

Fees: The reasonable expenses that arise for RIA will be passed onto the respective Customer.

Money Remittances with insufficient or incorrect data (Note 2)

Fees: The reasonable expenses that arise for RIA will be passed on to the respective Customer

Balance management (Note 3)

Fees: € 3.00/month

Note 1. Cancellation or modification of Money Remittances.

RIA will take the necessary steps to execute an order issued by the Sender in order to cancel or modify a Payment Transaction order.

If the actions carried out involve expenses charged by third parties, these will be passed on to the respective Customer even if said actions were unsuccessful for reasons not attributable to RIA.

Note 2. Payment Transactions with insufficient or incorrect data.

The omission of any of the data necessary for executing a Payment Transaction will not entail charging an additional fee to the respective Customer thereof, although RIA will pass on to the respective Customer those reasonable costs incurred by RIA for any steps taken (despite being unsuccessful for reasons not attributable to RIA) to (i) obtain the details necessary to execute the Payment Transaction as established in Section 5 above, or (ii) recover the funds from third parties when the Payment Transaction has been executed but not paid to the Beneficiary for incorrect or incomplete data or (iii) return the funds to the Sender for a Payment Transaction that has not been executed due to incorrect or incomplete data.

Note 3. Balance management.

In the event that funds received from Senders are in RIA's possession at the end of the Business Day following the day in which received, such funds will be deposited in a separate account in a credit institution or will be invested in safe, liquid and low risk assets as established by applicable laws and regulations. After a period of three (3) months from the receipt of funds without the Payment Transaction being paid to the Beneficiary and the funds being returned to the Sender for reasons out of RIA´s control, RIA may charge a monthly fee against such funds for the purpose of compensating RIA for those reasonable costs incurred by RIA in connection with RIA´s efforts to reimburse the Sender the outstanding funds and  RIA´s management of the funds while in its possession.