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SECCI Form for W1TTY Capital UAB

1. Contact details

Lender
W1TTY CAPITAL UAB
Address       Telephone number E-mail address Web address
Office address: Didžioji St. 18, LT-01128 Vilnius, Lithuania Registered address: Jogailos St. 9, Vilnius, Lithuania +370 665 87253 contact@w1tty.com www.w1tty.com
Credit intermediary
WITTY GLOBAL UAB
Address       Telephone number E-mail address Web address
Office address: Didžioji St. 18, LT-01128 Vilnius, Lithuania Registered address: Jogailos St. 9, Vilnius, Lithuania +370 665 87253 contact@w1tty.com www.w1tty.com

2. Main features of the credit product

The type of credit
Fixed-duration credit line, regulated by the Law on Consumer Credit of the Republic of Lithuania, which enables you to borrow and use funds without exceeding credit limit.   Credit limit is revolving, meaning that if you repay the used credit to us earlier than at the end of duration term of the credit agreement, you may use these funds repeatedly (but without exceeding the credit limit at any given time).
The total amount of credit This means the credit limit or the amount of credit to be provided under the credit agreement.
The amount of credit limit to be provided under the credit agreement is EUR XXX (a specific amount given personally to the Client).
The conditions governing the drawdown This means how and when you will obtain the money.
You may use your credit limit by way of utilising credit (not exceeding the credit limit at any time) from us to cover the amount of payment transactions initiated from your W1TTY e-money account opened with WITTY GLOBAL UAB. Credit shall be deemed utilised at the moment of your authorisation of payment transaction from your W1TTY e-money account made via W1TTY Mobile App, by using W1TTY Card or otherwise as permitted by WITTY GLOBAL UAB, if you do not have sufficient balance of Euros in your W1TTY e‑money account, but have sufficient available credit limit, for executing such payment transaction. In such case, the authorised payment will be automatically executed as follows: (i) firstly, by using your own funds held in Euros on your W1TTY e‑money account; and (ii) then, by using available credit limit (to the extent that your balance of funds held in Euros on your W1TTY e-money account is not sufficient). We will never allow larger credit amount than needed to cover the rest of the payment transaction that cannot be covered by your own funds held in Euros on your W1TTY e-money account and the available credit limit.
The duration of the credit agreement
The duration of the credit agreement is 6 months (unless terminated earlier) or, if at the end of 6 months term, you have outstanding payments to us that arise under the credit agreement – the credit agreement shall be valid until you fulfil all such payments to us. In any case, you will no longer be able to use the credit limit after the end of 6 months term.
Instalments and, where appropriate, the order in which instalments will be allocated
You will not be obliged to pay monthly instalments to cover the amount of used credit limit. You can repay the used credit to us whenever it is convenient to you, but no later than after 6 months following the conclusion of the credit agreement (i.e. at the end of duration term of the credit agreement).   Interest will be payable in the following manner: Interest will be accumulated only on the amount of credit that you actually used until it is repaid. The amount of interest which accumulates during a specific month will be called “Monthly Interest Payment” that you need to pay to us within 1 (one) month following the end date of a specific month during which that amount of interest has accumulated. However, the due date of the last two Monthly Interest Payments for the interest which accrues during the last two months of the credit agreement shall be the same day as the end date of the 6-months’ duration term of the credit agreement (so that all payable amounts would be settled no later than on the last day of the 6-months’ duration term of the credit agreement). The amount of your Monthly Interest Payment will depend on how much credit limit you will use and when you will repay it.   For illustration purposes, assuming that you: (i)      will accept the credit agreement on 01st March 2023; (ii)     have the repayment date of 31st August 2023 under the credit agreement; (iii)    have been given a credit limit of EUR 200 by us; (iv)   use all credit limit on the first day (i.e., 01st March 2023) of the credit agreement; (v)    do not make any repayment of the used credit (except Monthly Interest Payment) during the credit repayment term; (vi)   pay interest on used credit monthly and assuming that each month has 30 days; and (vii)  repay all used credit on the repayment date, you will have 6 Monthly Interest Payments in total, each of which will be EUR 2.96.
The total amount you will have to pay This means the amount of borrowed capital plus interest and possible costs related to your credit.
The total amount that will be payable by you under the credit agreement will depend on how much credit limit you will use and when you will repay it.   For illustration purposes, assuming that you: (i)      will accept the credit agreement on 01st March 2023; (ii)     have the repayment date of 31st August 2023 under the credit agreement; (iii)    have been given a credit limit of EUR 200 by us; (iv)   use all credit limit on the first day (i.e., 01st March 2023) of the credit agreement; (v)    do not make any repayment of the used credit (except Monthly Interest Payment) during the credit repayment term; (vi)   pay interest on used credit monthly and assuming that each month has 30 days; and (vii)  repay all used credit on the repayment date, your total amount that will be payable throughout the entire duration of the credit agreement will be EUR 217.76*. *EUR 200 (used Credit) + 6 Monthly Interest Payments of EUR 2.96   .
Repayments do not give rise to immediate amortisation of the capital
Monthly Interest Payments will cover only interest (they are not used for repayment of the used credit). However, you have the right to repay the used credit early at any time in full or partially.

3. Costs of the credit

The interest rate or, if applicable, different interest rates which apply to the credit agreement
The interest rate in relation to the credit agreement is a fixed rate of 18 %. Interest will be accumulated for the used credit daily starting from the date the credit was used until the date when you repay such used credit to us.
Annual Percentage Rate of Charge (APR) This is the total cost expressed as an annual percentage of the total amount of credit. The APR is there to help you compare different offers.
The APR in relation to the credit agreement is 18 % - it consists only of interest rate. Interest will be accumulated for the used credit daily starting from the date the credit was used until the date when you repay such used credit to us.
Is it compulsory, in order to obtain the credit or to obtain it on the terms and conditions marketed, to take out:
—  an insurance policy securing the credit, or
No.
—  another ancillary service contract?
Yes – you need to have an existing contract for provision of electronic money and payment services concluded with WITTY GLOBAL UAB.
If the costs of these services are not known by the lender they are not included in the APR.
Related costs
Maintaining one or more accounts is required for recording both payment transactions and drawdowns
For using the credit under the credit agreement, you will be required to have an active e-money account opened with WITTY GLOBAL UAB. This e-money account is provided free of charge, unless you subscribe for a paid plan, as agreed between you and WITTY GLOBAL UAB.
Amount of costs for using a specific payment instruments (e.g. a credit card)
You may use the credit with your W1TTY Card if such payment card is issued to you by WITTY GLOBAL UAB. You can use your W1TTY Card as per the prices set by WITTY GLOBAL UAB.
Conditions under which the abovementioned costs related to the credit agreement can be changed
Conditions under which related costs (for maintaining e-money account and using W1TTY Card, if any) can be changed are agreed upon in your existing contract for provision of electronic money and payment services concluded with WITTY GLOBAL UAB.
Costs in the case of late payments
If you do not make Monthly Interest Payments due under the credit agreement on time and/or if you do not repay used credit on time, late fees of 0.05 % will be charged on delayed payment for each day of delay (but for not longer than 180 days on each delayed amount). Late fees are charged from the next day after the obligation became due. The date of full performance of the due obligations is deemed as the end date for calculating late fees.   Missing payments under the credit agreement may result in: (i) the total cost of the debt growing; (ii) adverse entries being entered in credit databases which may make it more difficult for you to obtain credit or credit at an affordable cost; (iii) legal proceedings being possibly taken against you and incurring costs associated with such proceedings and (iv) termination of the credit agreement and sale of your debt to third party debt collection agencies.
Missing payments could have severe consequences for you (e.g. forced sale) and make obtaining credit more difficult.

4. Other important legal aspects

Right of withdrawal You have the right to withdraw from the credit agreement within a period of 14 calendar days.
You have the right to cancel the credit agreement, without giving any reasons, within the cooling-off period of 2 calendar days and not pay interest or any other fees. The period of 2 calendar days is calculated from the date of first drawdown (usage) of credit from credit limit you make under the credit agreement. If you wish to exercise the right of cancellation of the credit agreement, you should notify us of this and you must repay to us the used credit amount, but you do not need to pay interest or any other fees. If you do not repay the used credit to us until the end of the cooling-off period, your cancellation of the credit agreement shall be deemed invalid.   You also have the right to withdraw from the credit agreement within 14 calendar days. The period of 14 calendar days is calculated from the date of conclusion of the credit agreement. If you wish to exercise the right of withdrawal from the credit agreement, you should notify us of this and you must repay to us the used credit amount and interest accumulated from the day the credit was utilised until the day the credit is repaid to us. You can check the exact amount that you need to pay to us upon logging in to your account on W1TTY Mobile App. If you do not repay the utilised credit and accumulated interest to us within 30 calendar days following the date of withdrawal notification, your withdrawal from the credit agreement shall be deemed invalid.
Early repayment You have the right to repay the credit early at any time in full or partially.
You have the right to repay the credit early at any time in full or partially.
Consultation of a database The lender must inform you immediately and without charge of the result of a consultation of a database, if a credit application is rejected on the basis of such a consultation. This does not apply if the provision of such information is prohibited by law or is contrary to objectives of public policy or public security.
If we decide not to proceed with concluding the credit agreement with you based on the creditworthiness assessment results, we will inform you of this free of charge through W1TTY Mobile App and indicate the list of registers and information systems that we use for creditworthiness assessment purposes. We may also provide more detailed information about the data collected and used for your creditworthiness assessment upon your separate request.
Right to a draft credit agreement You have the right, upon request, to obtain a copy of the draft credit agreement free of charge. This provision does not apply if the lender is at the time of the request unwilling to proceed to the conclusion of the credit agreement with you.
You can download a draft credit agreement free of charge upon logging in to your account on W1TTY Mobile App. You can also receive a draft credit agreement free of charge upon contacting us via Live Chat Support on W1TTY Mobile App, via phone +370 665 87253 or email contact@w1tty.com, or by writing to Didžioji St. 18, LT 01128 Vilnius, Lithuania.
The period of time during which the lender is bound by the pre-contractual information
The pre-contractual information is valid for 7 days from the date it is first provided to you.

5. Additional information in the case of distance marketing of financial services

(a)  concerning the lender
Registration
The supervisory authority
(b)  concerning the credit agreement
Exercise of the right of withdrawal
The law taken by the lender as a basis for the establishment of relations with you before the conclusion of the credit contract
Clause stipulating the governing law applicable to the credit agreement and/or the competent court
Language regime
(c)  concerning redress
Existence of and access to out-of-court complaint and redress mechanism