Safeguarding of funds

RIA will have a guarantee comparable to an insurance policy from an insurance companyfor the purpose of safeguarding the funds sent by the payer in a payment transaction,which will comply with the conditions of Article 16 of Spanish Royal Decree 736/2019 of 20December, on the legal regime of payment services and payment institutions. Immediatelyafter receiving the funds from a Payment Order, regardless of whether the funds arereceived directly from the Client or from a different payment service provider (the'Safeguarded Funds'), RIA will protect those Safeguarded Funds by ensuring they arecovered by a comparable guarantee provided by an authorised insurance company or alicensed credit institution. The Safeguarded Funds will be protected while they are in thepossession of RIA, that is, until the funds are collected by the Beneficiary or madeavailable to the Beneficiary’s payment service provider. The Safeguarded Funds are notcovered by the Deposit Guarantee Fund.