Terms of Service for Business Accounts

29 September 23

Dear customers, please be informed that we have updated Terms of Service for Business Accounts (the Terms) by changing payment term of monthly account maintenance fee and monthly fee for holding funds (the Fees). Instead of payment in advance of monthly account maintenance fee, from the effective date of changed Terms that is 30 November 2023 the monthly account maintenance fee for the calendar month will be paid at the last day of that month. From the effective day of change of Terms monthly fee for holding funds (if applicable) will be payable for the calendar month on the last day of that month. Please note that we have not changed the amount of the Fee, and conditions when such Fees are payable.

Full wording of the updated Terms is attached.

Any Fee paid for the period from 1 December 2023 will be used for the next payment of Fee on 31 December 2023 by reducing such Fee.

No actions are required from you regarding this update as it will automatically enter into force on 30 November 2023. However, if you disagree with the changes made you are entitled to terminate free of charge our contractual relationships based on the Terms by 29 November 2023 (inclusive) by contacting TeslaPay Customer Support.

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