Privacy and security
Trust is a key factor in all of Meniga's operations which is why we put great emphasis on ensuring, confidentiality, reliability and the safe and responsible handling of all information. If you have any questions or concerns, please do not hesitate to contact firstname.lastname@example.org.
Meniga welcomes the new legislation on personal data protection and processing (GDPR) which came into force on 25 May 2018 in the European Economic Area. Security and privacy have always been a cornerstone of our operations, and it is therefore both important and positive that the legislature has taken this step to sharpen laws and regulations concerning the handling of personal data by companies. Further information on this can be found in the lower part of this summary "Compliance with Regulations and Cooperation with Regulators".
The following factors describe how Meniga secures your rights following the GDPR.
Meniga analyzes bank transactions from the bank accounts and credit cards you choose to share with Meniga. Entries from these accounts are usually retrieved and stored once a day or whenever you request them to be retrieved. In addition, the status of invoices and cards is stored.
You are asked to choose an e-mail address when you register for the service, in addition to which the service may ask for information regarding age, gender, place of residence, size of car or number of vehicles. You are free to choose whether you choose to provide the requested demographic information.
If you choose to take advantage of a refund offer, you will be asked for account information (account number and ID number) so that you can be reimbursed for the benefits of trading in active offers.
To improve the service, Meniga also collects technical information on how you use Meniga, e.g. with which browser or app you access the service, where and what functionality you use most. In this way, we find out which aspects of our service work best and how to improve accessibility and functionality for the benefit of all users.
If you contact Meniga for a question or a solution to a technical problem, Meniga also has a communication history.
We collect, store and analyze data through our services for the following purposes:
To provide the service
In order for Meniga to provide you with the services you have signed up for, Meniga analyzes your consumption patterns based on entries that accompany the bank accounts and cards you have linked to the system. Meniga categorizes the main income and expense items and links transactions to the company that was traded with (if applicable). The purpose of this elaboration is to provide you with a simple overview of household finances as well as to provide new insights in the form of accessible user interfaces, reports and notifications.
In addition, Meniga uses transaction information to compile non-personally identifiable market analyzes sold to companies and / or published in the media, to inform the public about the situation on the Icelandic market.
Your personal information is never made available to these companies, and if analytics does not meet the minimum number of users requirements, those reports will not be made available to companies.Viðhald og þróun á okkar þjónustu
Meniga greinir einnig notkun þína á appi eða vefsvæði Meniga til að geta bætt og þróað þjónustuna enn frekar.
Í þessari greiningu felst meðal annars að telja hvaða þætti þjónustunnar þú notar helst, hversu oft þú skráir þig inn, hvaðan og með hvaða vafra og stýrikerfi.
Development of new products
Meniga collects information from users, e.g. through tips via social media and e-mail, through user behavior on the Meniga.is app and web system or user tests, in order to develop new products and solutions that could be useful to users. User feedback is very important to us in all development work.
To provide customized services, e.g. refund offer and comparison
In addition, Meniga uses transaction information, demographic information or statistical analysis to show you how your consumption patterns compare to aggregate (and non-personally identifiable) information about other users.
Meniga also uses your personal consumption pattern to find suitable offers from companies participating in Meniga's refund offers. However, your personal information (including bank transactions related to the use of offers) is never provided to these companies under any circumstances.
Meniga collects information about the use of Meniga's products in order to better understand which aspects of the service are most useful to users and to measure users' reactions to new products or updates to existing products. The performance measurements are a key part of "Maintenance and development" of our service and "Development of new products" which can be read about above.
Communication with users
Meniga is a service developed by users and for users. It is very important for Meniga to be able to communicate openly with you and other users. Both so that we can inform you about updates, new products, new refund offers or other important changes to our service and also so that you can easily let us know if any part of the service is down, is not being used as it should be, you experience dissatisfaction with updates or if the service is being useful. We welcome any feedback on our service and try to respond quickly.
On the one hand, we store information about users' email addresses (usernames) so that we can send you an email with notifications of updates, new products, new refund offers or other important changes. Each email will give you the option to unsubscribe from such notifications and then your email address will be deleted from that list. However, the email address will still be available in Meniga's databases for authentication of login to Meniga's app and / or web system.
However, we collect and store data that enables us to communicate directly with you and other users through the Meniga app and / or web system.
The storage of transactions in bank accounts and cards meets the strictest security requirements (comparable to bank security) and is such that information about you cannot be accessed based on simple personal information such as ID number or account number, as Meniga does not store that information (this information are stored encrypted if they have been provided as part of your participation in refund offers).
In addition, only Meniga employees with special rights have access to the databases that contain transaction data and other user data. In addition, all employee reviews are recorded.
Meniga never shares your personal information. The only information that Meniga shares is statistical reports and / or analyzes based on aggregated and non-personally identifiable data from a group of users, see "Reasons for data collection" above.
The following sections contain information about how you can access, delete or update your information:
Access to and updating your information
All transactions from bank accounts and cards that Meniga stores as well as other personal information that you have provided are accessible following the registration on meniga.is.
There you can also correct and / or update the personal information you have chosen to share with Meniga.
Export of your information
Meniga allows you to back up your information stored in Meniga's databases. However, this does not apply to transaction information as it is available to you at the banking or financial institution with which you do business. To request a copy of your information, you can contact us via oryggismal (at) meniga.is.
Deletion of your information
If you decide to stop using Meniga by deleting your Meniga user account, Meniga will delete all personal information about you stored by Meniga (including account and card entries as well as account and card status).
The exception to this is entries related to earned refunds in refund offers, if you have chosen to take advantage of them.
Meniga, however, does not delete data that has been made completely impersonal, which is the case when your data has been compiled with other users' data and therefore cannot be reconnected to you in any way.
Privacy and security have always been very important to Meniga, as it is a cornerstone of the trust that exists between us and the users of the service. At the beginning of Meniga's operations, we took the initiative to contact the Data Protection Authority and request their audit of Meniga's operations to ensure that it complies with laws and regulations. Security measures and respect for our users' privacy have therefore been an integral part of Meniga's genome from the beginning, and we therefore welcome improved legislation that further secures our users' rights and sets clear boundaries for companies on how individuals' personal information can be used.
All communications are encrypted, both with users and banks (marked in the browser with the "https" prefix in front of the URL and a picture of the padlock). The Meniga.is databases are also encrypted.
Access control is mostly the same as in online banking, e.g. automatic check-out after 15 minutes, "secure" password requirements, etc. The website and its databases are hosted in a locked and monitored room by a security-certified host. Meniga's current host is Microsoft, which has ISO-27001 security certification.
User information is only accessible, and only as needed, to Meniga's staff who operate, develop, or improve the Service. All Meniga employees have a clean criminal record and are bound by a duty of confidentiality regarding anything they may become aware of about users' well-being. Meniga actively monitors employees and reserves the right to report any breach of confidentiality to the appropriate authorities. Meniga's supervision is i.a. This means that all employees 'access to users' data is registered in a database so that Meniga's security manager can always see who has viewed the information.
The security managers of Icelandic financial institutions with which Meniga cooperates have reviewed Meniga's security issues and confirmed that Meniga meets the strictest security requirements.
Meniga is one of the very few Icelandic companies that has an EV SSL certificate for encrypted internet communication from Verisign (identified in green browsers in the URL field). In addition, Meniga has a "Hacker-safe" certification from McAfee which confirms that it is not possible to use known methods to break into Meniga.is' web servers.
Meniga's policy is to store and process as little personally identifiable information as possible in order to provide the service. There is no e.g. ask for your name, ID number, address or other personal information. In order to be able to communicate with users, however, Meniga requests an email address, which in some cases can be personally identifiable (users can, however, choose to use an impersonal email address). If users use an unidentifiable email address and do not provide Meniga with a mobile phone number, Meniga does not have any personally identifiable information about users.
Meniga has access to transaction information and not bank account numbers or credit card numbers (at Meniga's request, financial institutions provide us with distorted account numbers and credit card numbers when retrieving data).
If a user chooses to participate in Meniga's refund offers, Meniga will request an account number and ID number in order to be able to pay the earned refund to the selected account. Both the account number and ID number are encrypted in the Meniga database.
Meniga has access to detailed financial information and will treat all users' information as personal information and therefore promises to operate in full accordance with Icelandic law on personal data protection and handling.
Meniga has notified the Data Protection Authority of its activities as required by the Data Protection Act and the processing of personal data.
Meniga does not have access to the implementation of any financial actions on behalf of users. Meniga has only (with the permission of users) read access to posts.
Users can revoke access to accounts and credit cards at any time in their online bank or in the app or on Meniga's website.
Under no circumstances will Meniga hand over, sell or lease personal or financial information (transactions or account balances) of users to third parties.
Meniga will never provide users' communication information (eg email address or mobile phone number) to third parties except their potential partners involved in providing the service (eg banks and financial institutions) and never for any purpose other than to have moderate and normal communication with users regarding their access. and use of Meniga's services.
Users (but not Meniga) have their personal and financial information and have sole access to it (by logging in to Meniga's services). All information provided by Meniga to Meniga or which Meniga obtains with their permission from third parties (eg information on bank account and credit card transactions) is collected solely for the purpose of providing the service to users.
Notwithstanding the foregoing, Meniga reserves the right to compile non-personally identifiable statistical summaries and other derivative information that is undoubtedly non-personally identifiable and uses it for commercial purposes or to disclose to third parties for material and valid reasons, e.g. as follows:
- Due to research by responsible parties on financial behavior.
- As part of Meniga.is' services, e.g. so that users can compare their consumption patterns with the averages of other users of the site.
- So that Meniga can inform advertisers and other partners about the composition and consumption behavior of the site's users. E.g. Meniga may inform advertisers or affiliates of the percentage of users purchasing a particular product or service or offer advertisers that their ad will only appear to a certain group of users who meet certain (non-personally identifiable) criteria if Meniga does not consider it against the interests of users.
Notwithstanding the foregoing, Meniga also reserves the right to disclose user information to third parties if:
- Meniga is required to do so by law.
- Meniga is acquired or merged with another company but only in accordance with the provisions of this security policy (so that the new company will continue to operate similar services on the same terms).
- Meniga users give their informed consent to give other users of the website or external parties access to their registration and / or financial information for a purpose that is in accordance with the goals and services of the website (e.g. to expand the service with the help of third parties). However, this will never be done unless Meniga considers that the parties in question meet similar requirements as are stated here regarding security issues and the handling of information.
In order to provide the service free of charge, Meniga relies in part on advertising to finance its operations. All advertisements in Meniga's services are clearly marked and demarcated from edited material, such as e.g. savings tips and practical information. In some cases, Meniga may invite advertisers to control the display of ads so that the ad appears only to those users who are likely, based on their consumption patterns, to be interested in the ad. However, this is never done if Meniga does not consider it in the interests of users.
When users visit Meniga's services, Meniga may collect technical information about their use, e.g. about the type of browser, which websites users visit on Meniga.is, the time users spend on the service, etc. This kind of information is only used to improve the user experience of the service, e.g. by improving the design of the service or informing users of possible technical problems in their equipment.
When users block access to Meniga's website, all information belonging to them will be immediately deleted from Meniga's computer systems. However, user information may exist in encrypted form in backups of Meniga databases for up to two months after the access is blocked.
About Meniga's services
Meniga's services include information, functionality and controls for personal finances in the form of software that classifies and analyzes users' bank transactions (bank account and credit card transactions) and enables users to: Have an overview of income and expenses, analyze finances and find ways to save or use resources better.
The service also includes articles and information on home finance and aims to promote responsible financial behavior and enable people to manage home finances in the easiest and most efficient way.
Part of the service is to publish regular savings tips and practical information that may be tailored to your personal consumption pattern as it appears in the information stored by Meniga, inquiries to third parties or other data.
The service may also be financed in part by advertising on the Meniga website. All advertisements on Meniga's website appear in well-defined advertising areas and a clear distinction is made between them and savings tips and practical information that Meniga edits and no one has paid for.
Meniga may control the display of advertisements based on your personal consumption patterns as reflected in Meniga's information, inquiries to third parties or other data. Advertisers on Meniga's website are never given access to your personal information, whether it be personal information, financial information or other data.
Savings tips, practical information and advertisements that may appear on Meniga's websites may contain web links to third party websites.
Meniga's service is free for users of the website.
By using the information, tools and functionality on the Meniga.is website (collectively, the "Service"), you agree to abide by these Terms, whether or not you are a "Guest" (meaning you have accessed the Meniga.is Website) or "member" (meaning you have created a Meniga user account). The words "you" and "user" in all inflections in these terms refer to a guest or member. If you wish to become a member, interact with other members and use the service, then you must read these terms and agree to the registration process. The use includes e.g. inspection, gathering of information and / or utilization of the services offered on the Meniga.is website at any given time. All use of the website is limited to the actions that can be considered normal and legal and the information and services offered at any given time.
Before you continue reading, you should print and save a copy of these terms.
3. Access to the service and your access information
You understand and agree that you are responsible for ensuring the confidentiality of your password that enables you, along with your username (email address), to access the Service. By providing Meniga with your email address, you agree that Meniga may, when necessary, send you notifications to your email address in connection with your access to the Service. Your username, password and other contact information that you may provide to Meniga (e.g. mobile phone numbers for SMS notifications) are included in your "access information".
If you become aware in any way that an unauthorized party has gained access to your access information, you agree to notify Meniga immediately by sending an e-mail to oryggismal (at) meniga.is.
Your right to access and use the Service is limited to you and you may not transfer that right to another person or legal entity. You may, however, give your spouse or cohabitant access to your area, provided you have joint finances. You may only access and use the Service for lawful purposes.
Your access to Meniga.is may be lost for various reasons, e.g. hardware failures, technical glitches, software errors, or system updates.
4. Meniga's neutrality towards your financial information
The service may offer members the right to request that Meniga collect their financial information on their behalf, e.g. transactions in bank accounts and credit cards, which are in the custody of a third party and with whom they have a business relationship. Meniga has entered into agreements with financial institutions to obtain such information with the consent of the owners of the information. Meniga is a neutral party and does not in any way take a position on such financial information. Meniga's neutrality implies, but is not limited to, that Meniga does not in any way take a position on whether transactions or other information are correct, legal or ethical. Meniga is not responsible for the information, products and services on third party websites.
Meniga cannot always foresee technical or other problems that may prevent information from being retrieved, data lost or service disruptions in any other way. Meniga seeks to ensure the utmost reliability, but is not responsible for the correct display, deletion, deletion or delivery of communications, settings or data to Meniga's users. Meniga also does not guarantee that the latest data is always visible or accessible on Meniga's website, but only reflects when Meniga last retrieved data from other parties.
5. Savings tips, practical information and advertising
Meniga does not in any way guarantee the products and services of third parties that may be mentioned on Meniga's website, whether it is an advertisement or not. Meniga also does not guarantee that the prices or terms of business of third parties for a product or service published or advertised on Meniga's website are correct, favorable or that such goods and services can in fact be purchased at that price or on the terms that may appear on Meniga website.
6. Email notifications and text messages to mobile numbers
From time to time, Meniga may send you the necessary notifications electronically regarding your registration and access to or use of the Service (e.g. when changing access information) or other optional notices in connection with your use of the Service. When you access your service for the first time, you may be signed up for some optional notifications. You can then change, unsubscribe or sign up for any optional notifications at any time. From time to time, Meniga may add new types of notifications or remove certain types of notifications.
Electronic notifications from Meniga will be sent to the email address you have provided as your primary email address for Meniga.is. You may also be invited to receive certain notifications as a text message to your mobile phone number.
Because notifications are not encrypted, they will never contain your password. However, notifications can include your email address (when you are sent an email), mobile phone number (when you are sent a text message to a mobile phone number) and information related to your finances. The nature of financial information in notifications to you depends on which notifications you choose and how they are set up. Anyone who has access to your email will be able to see the contents of these notifications. You can opt out of all optional notifications at any time.
You understand and agree that all notifications sent to you through the use of the Service may be delayed or not received by you for various reasons. Meniga tries its best to ensure that you receive notifications quickly and securely, but in no way guarantees that you will receive notifications or that notifications will always contain the latest or correct information. You agree that Meniga is not liable for late or no late notifications or for errors in the content of the notices provided the mistake is not made intentionally.
7. Rights you grant Meniga
By signing up for the service and agreeing to the terms and conditions in your online bank, you agree that the financial institutions with which you do business provide Meniga with electronic reading access to information on certain bank accounts and credit cards in your name (you choose which accounts and credit cards when you register you to the service in your online bank) as well as to all transactions on these accounts and credit cards. The license you grant Meniga is subject to the following conditions and restrictions:
- This is read-only access. Meniga is neither authorized nor able to transfer or perform any financial operations.
- The license is indefinite but can be revoked from the online bank at any time.
- As clearly stated in Meniga's Security Policy, Meniga will not under any circumstances hand over, sell or rent information obtained under this license to third parties. However, you may from time to time be given the opportunity to provide other users of the Website or third parties with access to your information for purposes that are consistent with the purpose of the Service. This will never be done without your prior informed consent. Meniga may, however, compile statistical summaries and other derivative non-personally identifiable summaries without your special consent and use them for commercial purposes or to third parties, provided that they are never in personally identifiable form.
- By accepting the terms in your online bank, you confirm that you may grant Meniga permission to use the data for the purpose of providing the service.
- The license is granted to Meniga without any obligation on the part of Meniga to pay for it and without any other restrictions not mentioned in these terms.
By using the service, you give your consent for Meniga to collect, on your behalf, information that you have agreed to in your online bank. You understand and agree that when Meniga retrieves your information, Meniga is retrieving it on your behalf and not on behalf of the financial institution where it is stored.
8. Meniga's intellectual property rights
All content on the Meniga.is website, including layout design (e.g. text, graphics, images, trademarks), photographs, software, edited material, notices and other material is protected by copyright and trademark laws in Iceland and elsewhere. The content of Meniga.is is the property of Meniga or used under permission from software, data or content providers with which Meniga has a business relationship. Meniga grants you permission to view and use Meniga.is in accordance with these terms. You may only download or print copies of information and content on Meniga.is for your personal use and not for commercial purposes. Any distribution, republishing or electronic copying of the contents of Meniga.is, whether in part or in full, for any other purpose is not permitted to you at all except with the written consent of Meniga Iceland ehf.
9. Access restrictions
You hereby agree that you will not use any kind of automated software, programs or other automated methods to access, copy or monitor any part of the Meniga.is website without the written permission of Meniga.
You also agree that you will not use any programs, software or other methods to visit, use or search for data on the Meniga.is website except through general browsers (eg Firefox or Microsoft Internet Explorer) and general search engines (eg Google or Bing).
You also agree that you will not post files or data on the Meniga website that could be classified as a computer virus, computer worm or hacker or contain any harmful features or that could in any way interfere with the normal functioning of Mengia.is or the service.
You further agree that you will not attempt in any way to retrieve, publish or otherwise reverse engineer underlying code based on the software used on Meniga.is.
10. Content that you send to Meniga.is
The service means that members are enabled to submit content to forums, blogs and other areas within Meniga.is that contain content from users. You hereby agree to abide by the following rules when submitting any text, data or content to Meniga.is:
- You are responsible for all content you send to Meniga.is.
- By submitting content, you warrant that you have all the necessary rights and permissions to submit the content and that you grant Meniga an unlimited right to dispose of all your contributions, e.g. the right to publish, publish, general exhibitions, reproduce, rent, lend, sell and distribute in any technical way possible today or invented later, without Meniga having to pay you. These intellectual property rights cover all types of intellectual property and all forms of communication. Meniga also has the right to have all material translated into a foreign language. You also hereby grant permission to each user of Meniga.is to access your contributions through Meniga.is and to view, copy, distribute, prepare derivative works, display, and use your contributions in accordance with these terms, Meniga's rules and then activity that can be found on the Meniga.is website.
- You may not post content that could be considered offensive, insulting, or that contains personal information or concerns about personal matters.
- You may not submit any content, images or programs that infringe upon the property, intellectual property or copyrights of others.
- You may not interfere with the use of other users using the Service. For example, you may not interfere with normal communication in interactive areas on Meniga.is, delete or modify content submitted by others, do anything that imposes an unreasonable load on the service and the computer system on which it runs, or anything else that interferes with normal access other users of the service.
- Unless otherwise specifically stated in specially designed areas within Meniga.is, you may not request, sell, advertise or promote any product or service, whether for a fee or not, or submit a request for participation in charity , the signature collections or business opportunities (including job offers).
- You may not copy or use the personal or contact information of other users without their permission. Unsolicited communications with parties about whom you have received information on the Meniga.is website are prohibited.
11. Limitation of liability
Meniga is not responsible for any inconvenience or damage caused directly or indirectly due to a failure in the computer equipment and / or software of the company or user or for other reasons, which may cause the information to be incorrect or the user not be able to connect to the service. Meniga is not responsible for any inconvenience or damage that may be caused directly or indirectly due to defects or failures in the terminal equipment, connection to the World Wide Web, the software required to connect to Meniga's website, Meniga's browser or operating system or computer system, or for any other reason which may cause operations in Meniga.is not to take place or take place in any other way than was intended, e.g. due to technical failures, errors in data or disruptions in the operation of computer systems. Meniga is not liable for damages resulting from the ignorance, misunderstanding or misuse of the user or another party with or without the user's power of attorney. Meniga is not liable for damages that can be traced to incorrect actions by the user or another party. Meniga is not liable for damages that can be traced to external events, e.g. failures, incorrect external information, etc. Furthermore, if the damage can be traced to events resulting from natural disasters, wars, strikes or due to factors that are considered to fall under force majeure.
12. Meniga's services are not formal financial or tax advice
The user realizes that the Meniga website is solely an information and analysis service in the sense that the users of the website cannot make transfers, payments or other financial actions. The service is for informational purposes only to assist people in planning household finances in the general sense and does not include legal or tax advice or other formal advice involving the legal relationship between the counselor and the recipient of the counsel. Your personal financial interests are unique and the content, information and activity on Meniga.is may not be relevant to your circumstances.
13. Termination of access and validity of these terms
These terms apply while you use Meniga.is and until your access to Meniga's website is blocked by you or Meniga. You can block your access to Meniga on the Meniga website. When you close your account, Meniga deletes all your data and information. However, your information may be stored in encrypted copies of the Meniga database for up to two months after you close your account.
Meniga may at any time, and without notice, unilaterally block your access to Meniga by sending you a notification to the email address you provided when registering. E.g. if you are found to be abusive or have violated any of the terms of these Terms or if you have behaved in a manner that makes it clear that you do not intend or cannot fulfill the terms of these Terms.
14. Changes to the terms
Meniga may change these terms. In the event of changes, all changes to these terms will be available on the Meniga.is website and will also be notified to you by e-mail or in a prominent manner on the Meniga website. In the event of a change, the next time you visit the Meniga website, you will be given the opportunity to accept the changed terms. If you choose not to accept the changed terms, you will no longer be able to access Meniga's services and you will also be given the opportunity to block your access to Meniga, which means that all data and information about you will be deleted, cf. Article 13 of these terms.
15. Venue, disputes between parties and general provisions
These terms are subject to Icelandic law. If any provision of these Terms is found to be invalid, illegal or unenforceable, it does not in any way diminish the validity, legitimacy or enforceability of other provisions of these Terms. You agree that if Meniga does not exercise any of its rights arising out of these Terms, it shall not be construed as a waiver of that right. If a case arises out of these terms, it shall be brought before the District Court of Reykjavík.
Due to increased activities abroad, Meniga has decided to embark on organizational changes which mean that a new company, Meniga Iceland ehf. (ID no. 571215–0200), has been established for Meniga's domestic operations and the new company will take over all of Meniga hf.'s operations. (ID no. 5003090160; formerly Meniga ehf.) in Iceland as of 1.1.2016 and all employees of Meniga hf. move to Meniga Iceland ehf. at the same time.
2. Refunds for discounts
Reimbursement offer ehf. will from time to time offer users offers where certain companies and retailers offer users a discount if shopping during a certain period, provided that the user pays with a credit card connected to the Meniga system. The offers and thus the discount do not take effect if the user pays in another way, e.g. cash. The offers will appear in Meniga's system.
3. Confirmation of participation
Users should generally confirm participation in bids on the Meniga website, but in certain cases confirmation is not required and participation can be automatic. In cases where confirmation is required and such confirmation is not available, the offer will not be activated against the user in question. After the user has confirmed these terms, they apply to all offers in which users participate.
4. Offers to specific groups
Users are aware that bids may only be directed to certain groups of users, selected in an impersonal manner according to certain variables, e.g. demographic, place of residence, consumption behavior, gender or other categories. Such offers only apply to the groups in question and not to others.
The user pays the full price for the product and / or service to the company in question according to each offer. The discount that the company pays will be paid to Endurgreiðslutilboð ehf. who accepts the payment on behalf of the user and then pays the user in accordance with the provisions of these terms.
When Endurgreiðslutilboð ehf. has received a notification of a transfer of users to a company during a period when the offer was in progress, Endurgreiðslutilboð ehf. that user. Such notification does not, however, amount to a refund. Reimbursement offer ehf. sends the company in question a payment recommendation for a refund on the 1st of each month after the offer has been made. The user can always see their total status at any given time inside the Meniga system. Regarding disbursement of funds, reference is made to Article 8. terms of these.
The user realizes that a refund will not be received until Endurgreiðslutilboð ehf. has issued a payment recommendation on the 1st of each month after the expiry of the validity of each offer and furthermore that payment to the user is not received until the seller has paid to Endurgreiðslutilboð ehf, cf. Article 8 of the terms.
6. Preservation of funds
The payments that Endurgreiðslutilboð ehf. takes over on behalf of users will be kept separate from the company's other funds in a special account, which can be a trust account, a special bank account or another similar account on behalf of Endurgreiðslutilboð ehf. Reimbursement offer ehf. reserves the right to change the account or form of account for the preservation of the funds. Endurgreiðslutilboð ehf. an authorization to entrust a financial undertaking or party that has a license for payment services in accordance with Act no. 120/2011, on payment services, all administration of the relevant bank account and take care of reimbursement to users.
7. Delimitation of the discount
Users will be informed in each offer how the discount to be refunded is determined. For example, the discount can be a certain percentage of the purchase price, or a fixed amount. If more than one offer from the same retailer is available to the user at the same time, the discount that is most favorable for the user at any given time but does not accumulate between offers from the same retailer applies.
8. Payments to users
As stated in Article 5. of the terms, Endurgreiðslutilboð ehf. payment recommendations to the companies that have participated in the offer, on the 1st of each month after the offer ends. The money that Endurgreiðslutilboð ehf. has received on behalf of its users, will be paid to each user on the 18th of that month. If the 18th falls on the weekend, payment will be made on the first working day thereafter. The payment is received into an account specified by the user in Meniga's system. The user is responsible for specifying the correct invoice and realizes that Meniga cannot verify whether the invoice is truly owned by each and every user. Furthermore, Endurgreiðslutilboð ehf. does not withdraw a payment that has been paid into an account specified by the user. Payment is made automatically and does not require a special request from the user. Users cannot get money paid out at any other time or otherwise.
Failure to repay within the allotted time, e.g. due to the fact that the bank account no longer exists, Endurgreiðslutilboð ehf. look for ways to track down the user in another way and pay money to that person. If this does not work, Endurgreiðslutilboð ehf. preserve money as required by the general rules on depreciation.
9. Dealer arrears
Users are fully aware that refunds to them are subject to Endurgreiðslutilboð ehf. receive payment from the relevant dealer. Reimbursement offer ehf. does not accept responsibility for payments received from the seller and the user has no claim on Endurgreiðslutilboð ehf. in such cases. Reimbursement offer ehf. will, however, use all available means that are likely to be successful in order to collect money from the relevant vendor in the event of default and inform the relevant users of the progress of such cases, as far as possible.
If Endurgreiðslutilboð ehf. Chooses, even though it is not obliged to do so, to pay users a claim for a refund that is in arrears with a company, the user confirms that Endurgreiðslutilboð ehf. settles the claim against the seller and that the user transfers Endurgreiðslutilboð ehf. their claim against the relevant dealer.
10. Power of attorney
By confirming these terms, the user of Endurgreiðslutilboð ehf. a full and unlimited power of attorney to receive and retain on its behalf refunds from companies for offers and is otherwise subject to these terms. Furthermore, that Endurgreiðslutilboð ehf. is authorized to represent the user towards companies participating in offers on behalf of Endurgreiðslutilboð ehf. and collect the money that the user has inside the company in the event of default, cf. Article 9 terms of these.
The user realizes that Endurgreiðslutilboð ehf. retains the money that is reimbursed on its behalf until it is paid out to the user in accordance with the provisions of these terms. The user realizes and agrees not to add to the amount he paid out of Endurgreiðslutilboð ehf. interest or indexation and the user has no claim against Endurgreiðslutilboð ehf. for that reason.
11. Changes to the terms
Meniga is a service that is constantly evolving. Reimbursement offer ehf. reserves the right to change the provisions of these terms, provided that users of the service will be notified by e-mail of any changes in an appropriate manner with 10 days' notice. These changes may affect the products used and their effectiveness. If the user uses the service after 10 days' notice, he will be deemed to have accepted the terms in a modified form. If the user does not agree to the terms after the change, he shall stop using the service immediately and unsubscribe from it on the website meniga.is.
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