Information on the transfer of accounts from RONDA FINANCE a.s. to PAYMONT UAB
The company RONDA FINANCE a.s. has been a part of the RONDA HOLDING group since 2019 and provided payment services to clients of RONDA INVEST a.s. In order for RONDA INVEST clients to have the opportunity not only to invest but also to use an extended range of payment services, the client accounts held by RONDA FINANCE a.s. were transferred to PAYMONT UAB, which is also a member of the RONDA HOLDING group.
The legal effectiveness of this transfer was based on an agreement for the sale of a part of the business of RONDA FINANCE a.s. to PAYMONT UAB.
PAYMONT UAB is an Electronic Money Institution based in Lithuania and is subject to the supervision of the Central Bank of Lithuania.
And why Lithuania? Lithuania joined the European Union in 2004 and has since attracted a large number of technology institutions as well as successfully developing startups. Among them, a large number of those in the field of financial technology, or FinTech.
Significant companies such as Western Union, Nasdaq, IBM, AIG, and tech giants like Google operate in Lithuania. Similarly, financial firms from Singapore, Hong Kong, Israel, the United Kingdom, and other countries have established their offices in Lithuania. Lithuania is home to hundreds of startups that provide thousands of jobs to its residents. FinTechs based in Lithuania take advantage of the favourable conditions, including local talent, low wages, and public incentives. An important factor in the success of FinTechs in Lithuania is also the strategic and supportive decisions made by the Central Bank of Lithuania.
What has changed?
After transfer of your account and funds to PAYMONT, your previously concluded contracts with RONDA FINANCE remain valid. Therefore, there is no need to sign new contractual documentation. Only at the moment of the transfer, the General Terms and Conditions of PAYMONT and the new Tariff became effective for you. However, there is no need to worry, as the prices remain the same as you were used to in RONDA FINANCE, and most services are free. Also, your investments with RONDA INVEST will continue to operate as usual.
To access PAYMONT’s online banking, you will use the same login details, i.e., client number and PIN, that you used to log in to RONDA FINANCE’s online banking. However, you will need to change your PIN to a full-fledged password after your first login.
After the transfer of your account and funds, the balance of the funds that you had in your RONDA FINANCE account will be transferred to your account with PAYMONT.