top of page
  • Instagram
  • Facebook

Contract Terms
of the Services


Last updated: March 01, 2022.

This Service Agreement has the general terms and conditions for contracting the systems and services made available through the Software/Platform in application or on any or all of the following websites:, or, through which the brand “Seletobank” presents itself to the public, as well as provides a tool that manages and processes payments through partner Custodian or Settlement Banks, that is, Financial Institutions duly backed and authorized by the Regulator in their country to maintain the balance and custody of the values held in the digital payment accounts of the holders, integrated with the Processor Software/Platform for operationalizing the transactions of the following incorporated companies:


United States: SELECT, a legal entity governed by private law, issuer of electronic money and permitted to operate in the United States with its head office at the following address - 55 Boardwalk, Carlton Landing, Oklahoma, 74432.


Brazil: SELETOBANK PAGAMENTOS S/A., Institution, registered with CNPJ/ME nº 34.049.840/0001-60, with operational headquarters at the following addresses - Brazil: São Paulo – Rua Major Quedinho, 99, Centro, São Paulo, CEP 01050-030 and Goiânia - Rua T- 64, 322 - Bela Vista Sector - CEP 74.823-350.


Mexico: SELECT INC SA DE CV, Electronic Payment Funds Institution (IFPE), with operational headquarters at the following address - Calle Fray Toribio de Benavente #104 col Independencia 1ra. Section Celaya Guanajuato, Mexico. CP 38010.


This Agreement becomes effective between the incorporated companies, through which the brand“SELECTOBANK”, provides and makes available its payment management and processing tools and services and the “CONTRACTOR” from the date of opening of its digital account on the Software/Platform, application or on any or all of the following,, or even, in the signature of the Agreement, Terms and Conditions of Use of the API of Seletobank – Legal Entity, which contains all the relevant data of the Use of the API of Seletobank between the Legal Entities Parties. The Client's access and use of the Services contracted will be by this Agreement, which presents the general conditions applicable to the relationship between the Parties.


Of the object

1.1 The purpose of this Agreement is the provision of services by SELETOBANK to the CONTRACTING PARTY identified in the digital account in the Software/Platform, application or on any or all of the following websites: “”, or “ br”.

Granting the use of the software

2.1 In order to use the SELETOBANK System, and consequent provision of the services specified in this Agreement, the CONTRACTING PARTY will have an original access user (Login), who will perform the first access to the platform, as specified in the Software/Platform, application or in any or all of the following websites: “”, or “”.

2.1.1. In addition to being responsible for using the Software, the CONTRACTING PARTY may create other internal accesses (Login) and (Credentials) so that the digital account and API of Seletobank - Legal Entity of the system can also be used by other third parties authorized by the CONTRACTING PARTY.

2.1.2. The accesses provided to the CONTRACTING PARTYuser are personal and non-transferable. The CONTRACTING PARTY users will have accessto the services through login and password, determined by the CONTRACTING PARTY, which data it undertakes not to disclose to third parties.

2.1.3. It is the exclusive responsibility of the CONTRACTING PARTY for any concession to use the digital account or API of Seletobank – Legal Entity. Likewise, it is your sole responsibility for any service request that is made using your login and password.

2.1.4. The CONTRACTING PARTY shall immediately inform SELETOBANK if an unauthorized person has access to its login and password or (“Credentials”). In the absence of such communication, SELETOBANK will assume the legitimacy of the operations carried out.

2.2 The registration of users on the Platform will be governed by the specific procedures and rules of the SELETOBANK Terms of Use (, document that the CONTRACTING PARTY declares to have read and agreed in its entirety.

2.2.1. The CONTRACTING PARTY hereby acknowledges that SELETOBANK may use any lawful means to identify and confirm the Responsible User data and other logins.

Operating methodology

3.1. For the effective correct provision of the service, it is essential that the CONTRACTING PARTY sends the information indicated by SELETOBANK, so that the failure to correctly present such information prevents the provision of the service.

3.2. If there is a failure and/or lack of information, SELETOBANK will notify the CONTRACTING PARTY so that it can provide the necessary information correctly. If there is no return from the CONTRACTING PARTY or if it is impossible to provide the services due to incorrect information, SELETOBANK will be unable to comply with its obligations, without this characterizing a failure in the provision of the service.

3.3. In order for the service to be provided, the CONTRACTING PARTY must inform, when carrying out its initial registration, its bank details (name of the bank, branch and account number).

3.3.1 At no time will SELETOBANK ask the CONTRACTING PARTY for access or passwords to the bank account(s) exclusively owned by the CONTRACTING PARTY.

3.3.2. The collection of this information will comply with applicable legislation and the SELETOBANK Privacy Policy, available

3.4 In order for the services to be provided with the expected quality, the CONTRACTING PARTY appoints SELETOBANK as its agent, guaranteeing the powers necessary exclusively to perform the services provided identified in the digital account in the Software/Platform, application or on any or all of the following websites : “”, or “”.

3.5. The CONTRACTING PARTY declares that it has had full access to the Terms of Service, API Terms of Use, Money Laundering Prevention Policy, Anti-Corruption Policy and is aware of and in accordance with all its procedures and guidelines indicated therein, available at the following links;; and

3.6. In case of system failure or inaccessibility of the third-party banking institution providing the service, without fault on the part of SELETOBANK, the services that should be performed for this institution will be postponed to the next business day or until the system is normalized, without this being interfere with SELETOBANK SLA.

3.7. Any questions or complaints regarding the services must be sent to SELETOBANK, through the form of communication and term provided for in the general provisions of this Agreement and in the Service Level Agreement - SLA.

From PIX account


4.1. SELETOBANK is able to provide the instant payment solution created and managed by Bacen through PIX, through partner Custodian or Settlement Banks, in the form of Transactional Account Provider. In this sense, through the system provided by SELETOBANK, the CONTRACTING PARTY may have access to the PIX via the Seletobank API – Legal Entity.

4.1.1. The use of the PIX is subject to the normative bases and the regulations referring to its operation, which were duly edited by the Central Bank of Brazil and which are mandatory for all contracting parties.


4.1.2. The CONTRACTING PARTY expressly acknowledges that the use of services for receiving values (Cash In) through PIX, payment or validation, under the terms of clauses five, six and seven of this Instrument, will only be carried out upon specific contracting, as indicated in the Agreement, Terms and Conditions of Use of the Seletobank API – Legal Entity signed between the Parties. There will be no automatic contracting of any of the aforementioned Seletobank API services – Legal Entities with the creation of a digital account linked to SELETOBANK. The PIX Payments and Receipts API Contractor has a duty to be responsible for frauds resulting from failures in their own risk management mechanisms, including failure to observe risk management measures.

4.2. For the PIX environment, you have the following settings:


a. Paying User: legal entity user whose transactional account is debited.


b. Receiving User: natural or legal person who has their transactional account credited.


c. Pix Key: information that allows identifying the user transactional account so that he can perform a Pix.


d. DICT (Directory of Transactional Account Identifiers), managed by the Central Bank and responsible for storing the account information of the receiving users, facilitating the way to find the receiving user.

e. Pix Regulation: Regulation issued by the Central Bank of Brazil, permanently available at

4.3. The PIX Key with QRCode represents the address of an account on PIX and is used to identify the CONTRACTING PARTY account. It is already established that the CONTRACTING PARTY may use the CNPJ, e-mail, cell phone number and random key for registration.

4.3.1. The CONTRACTING PARTY is prohibited from registering any CPF as the PIX Key for API of Seletobank – Legal Entity as identification with the SELETOBANK account.

4.4. The CONTRACTING PARTY may link up to 20 (twenty) PIX Keys in the SELETOBANK account and declares to be fully aware that the same key cannot be linked to more than one account.

4.4.1. The Client_ID will be generated automatically by the SELETOBANK system, as indicated in the Agreement, Terms and Conditions of Use of the API of Seletobank - Legal Entity, and the CONTRACTING PARTY is not authorized to include the email, telephone numbers or any other keys that it deems relevant for the use of the platform.

4.4.2. In cases of registration of the PIX Key on the SELETOBANK platform, using e-mail or telephone to register the PIX Key, SELETOBANK will send an access code to release the respective key. Only after validating the code, the PIX Key will be released for use.

4.5. If there are no irregularities or cases that deviate from the security standards established by SELETOBANK, as provided for in Clause 8.2., the transfers requested by the User occur instantly.

4.6. Availability limitations may occur if determined by Bacen or third-party banking institutions, without SELETOBANK having any responsibility or interference in its SLA for their occurrence.

4.7. The CONTRACTING PARTY may change or cancel the transaction only before confirmation of payment. After confirmation, the transaction cannot be canceled, considering that it takes place in real time. In this case, the paying user may negotiate with the receiving user the return of the amount paid. The return is a feature available on PIX and is always initiated by the receiving user, and SELETOBANK is not responsible for intermediating or guaranteeing the return.

4.8. The User may, at any time, request portability, claim, which consists of transferring the link of a given PIX key to another transactional account held by it, or deleting PIX Keys. For that, the CONTRACTING PARTY must formalize its request through the API or the System interface, with SELETOBANK being responsible for complying with the entire procedure determined by Bacen to formalize the claim, portability or exclusion.

4.9. In the event of an error in the bank details informed that results in a failure to process or chargeback the transfer, the transfer fee may be charged to the CONTRACTING PARTY.

From the service of receiving value through Pix (cash in)

5.1. Upon specific contracting, and in cases where the CONTRACTING PARTY has a PIX Account registered in the SELETOBANK System, the provision of Cash In services will be made available, which consists of receiving amounts from third parties in its SELETOBANK account.

5.2. The Cash in service can be carried out through PIX transfer, through registered PIX keys, as well as due to the settlement of the previously issued QR Code, which can be static or dynamic

5.2.1. The provision of Cash In services through the PIX Key will be carried out through the interface of the SELETOBANK digital account, while third-party receipts via QR Code can only be carried out through the Seletobank API – Legal Entity.

5.3. Each of the forms of receipt described herein will be contracted and charged separately, as duly described between the Parties.

5.4. If the receipt of amounts from third parties (cash in) is carried out through transfer through the registered Pix, SELETOBANK will charge the fee determined in the service plan, which will be applied to each third-party deposit made in the CONTRACTING PARTY account.

5.5. In cases where the CONTRACTING PARTY uses the QR Code services to receive the amounts, the charge will be as follows:

5.5.1. For both Static and Dynamic QR Codes, SELETOBANK will charge the Receipt Fee for each third-party payment made to the CONTRACTING PARTY's account. In these cases, the same unit value of each PIX transaction will be applied, as formalized between the parties in the contracted Service Plan

5.5.2. For the Dynamic QR Code, a certain fee will be charged for each QR Code issuance requested, only if 50% (fifty percent) of the QR Codes issued are not paid. In these cases, the amount of R$ 0.30 (thirty cents) will be charged per dynamic QR Code issued and not paid.

5.6. In all cases dealt with herein, the CONTRACTING PARTY may monitor its transactions through its access within the digital account interface on the SELETOBANK platform or via API.

5.7. In case the CONTRACTING PARTY, for any reason, does not accept the amounts received from third parties, it must notify SELETOBANK so that its reversal can be carried out. In these cases, the payment of the receipt fee due to SELETOBANK will still be due, considering the service provided. Likewise, the CONTRACTING PARTY will pay the fee for carrying out the reversal that will follow the rules and values applied for payment services (cash out), as provided in clause six of this Agreement.

5.8. The CONTRACTING PARTY may at any time request the redemption of the amounts deposited in its SELETOBANK account, which will be carried out under the terms and rules described in Clause 12.2. of this Instrument. Even in cases where the redemption is made to an account also held by the CONTRACTING PARTY, the fee will be charged.

Payment processing via TEV, TED and PIX (cash out)


6.1. SELETOBANK provides payment services (cash out) to the CONTRACTING PARTY via the digital account interface, electronic transfers of amounts will be made to certain bank accounts, through TEV, TED or PIX, as specified in the service plan between the parts. The case of processing TEV, TED and PIX payments (cash out) via API, requires the contracting of services by the CONTRACTING PARTY.

6.2. For the execution of transfers, the CONTRACTING PARTY may need to inform the agency number, current account number, name of the financial institution, full name of the first account holder, and identification document, which may be CPF or CNPJ. For payment of slips, it will be necessary to transfer the typed line or barcode number to SELETOBANK.

6.3. SELETOBANK will carry out the processing within the following deadlines and times:

a. Transfer requests sent to SELETOBANK via TEV will be processed from Monday to Friday from 8:00 am to 7:00 pm, while TED transfers will be processed on the same days, from 8:00 am to 4:30 pm. Requests sent outside these hours, as well as on Saturdays, Sundays and holidays, will be carried out on the next business day;

b. Transfer requests sent to SELETOBANK through the PIX system will be processed within 6 (six) hours. On business days after 20 (twenty) hours, on weekends and holidays, there may be limitations on the amounts carried over, depending on the operation of the other banks integrated to the SELETOBANK system;

c. For payment of slips, the typeable line or barcode number must be sent to SELETOBANK from Monday to Friday from 8:00 am to 7:00 pm for payment on the same day;

d. Requests sent outside these hours, as well as on Saturdays, Sundays and holidays, will be carried out as soon as possible on the next business day.

6.3.1. SELETOBANK may, upon notice to the CONTRACTING PARTY, with the possibility of immediate applicability, change the processing times described in this clause.

6.4. It will be the CONTRACTING PARTY obligation to keep in its account the necessary resources for SELETOBANK to make the due payments and/or return payments. In cases where the CONTRACTING PARTY only contracts payment services (cash out), deposits on the platform can only be made through accounts held by the same legal entity.

6.5. If there is any failure to make the payment through PIX, SELETOBANK will perform the service automatically by any other authorized form (TED or TEV), and the fee will be due for the service actually provided.

6.6. In case of any lack of funds in the account or unavailability of the set of integrated APIs, SELETOBANK will indicate through its application the amount necessary to effect the payments, within the item Insufficient balance. If no deposit is made, the CONTRACTING PARTY declares that it is aware that no payment can be made.

6.7. For payment services via PIX (cash out), TED or TEV, the CONTRACTING PARTY will have a limit of BRL 35,000.00 (twenty-five thousand reais) per transaction. If interested in carrying out transactions for a greater amount, the referred party must forward a prior request to SELETOBANK for internal analysis through the email, stating the reason, the amount required and the corresponding documentation for the increase. SELETOBANK, at its sole discretion, may or may not accept the request.


From the validation service

7.1.  For validation of third-party accounts, the CONTRACTING PARTY may proceed with the contracting of the services listed below, by signing the specific Plan. Each of the services must be contracted separately, and the contracting of one of them will not lead to the release of use of the others.


7.1.1. In the event of the use of any of the other validation services, SELETOBANK is already authorized to charge the same unit value of the validation service actually contracted, as indicated in the Specific Plan Request, without the need for any prior notification.


7.2. The validation service consists of the previous automatic validation to verify the authenticity of the bank details and the Pix key. The service consists of the prior automatic validation of the existence and availability of the bank account and the Pix Key, through micro deposits of certain cents.


7.2.1. For the validations described here, it is possible that the CONTRACTING PARTY sends SELETOBANK only the Pix Key, the Pix Key and a document, or the complete data of the bank account to be validated.

7.2.2. Only with the Micro Deposit service will the CONTRACTING PARTY be able to validate that the third party's bank account is an effectively existing account. 


Operations monitoring

8.1. All transactions carried out are monitored by SELETOBANK with the aim of guaranteeing security, verifying non-conformities, and avoiding possible fraud. In this way, SELETOBANK verifies the destination of amounts, quantities, profile, receiving users, among other criteria.

8.1.1. SELETOBANK, at any time, at its sole discretion, may carry out verification procedures, and may request additional documents, such as invoices, contracts and proof of payment, link to the commercial website used by the CONTRACTING PARTY, contact with the receiving user, among others. .

8.1.2. If irregularities or deviations from security standards are identified, regardless of whether a payment dispute has been initiated, the deadlines will be suspended and the allocation of amounts will be evaluated within a reasonable period for analysis by the SELETOBANK team.

8.1.3. The mere submission of documentation, when requested, does not signify acceptance of the Transaction.

8.2. SELETOBANK may block access to Credentials: the mechanisms that allow access to SELETOBANK systems, including the API, as well as: usernames and passwords, digital signatures, Pix keys, API integration client_Id keys, certificates, tokens, etc., regardless of authorization or prior notice from the CONTRACTING PARTY, when there is:

a. Suspected, attempted or committed fraud in the use of the Seletobank API – Legal Entity or the PIX key;

b. Identification of the need for adjustment after the key synchronization verification process, as provided for in the PIX Regulation;

c. Inactivity of the account linked to the Seletobank API – Legal Entity or the PIX key, characterized by the non-receipt of settlement orders for more than 2 (two) months, or;


d. Closing of the CONTRACTING PARTY account in the SELETOBANK system.

Price and payment method

9.1. The payment of amounts related to fees and provision of services, to be paid by the CONTRACTING PARTY, must be carried out automatically, and SELETOBANK must invoice at the time of each operation, recording each fee in the contracting party account.

9.2. The payment of the amounts related to the service provision plan: (Platinum Plan) or (Diamond Plan), to be paid by the CONTRACTING PARTY, must be carried out automatically, and SELETOBANK must invoice monthly, every 30 days, from the beginning of the CONTRACTING PARTY operation, registering each monthly fee in the contracting party account.


The Contractor and Contracting Party Obligations

10.1. SELETOBANK obligations are:

a. Employ qualified personnel in the provision of services, using the best techniques available on the market;


b. Develop services in strict compliance with applicable legislation; and

c. Keep the personal information, account information and financial information of the CONTRACTING PARTY, as well as their access records, in absolute secrecy, storing the information in a secure environment.

d. Make or inform Precautionary Blocking - Temporarily blocking of funds transferred by third parties to the CONTRACTING PARTY, simultaneously with the credit of the amount in the account. When there is a return request (MED) or suspected fraud, the blocking of up to 72 hours. Made through SELETOBANK and/or its CUSTODIAN BANKS, in accordance with the rules and conditions established by the Central Bank of Brazil in the Pix Regulation, which the USER declares to know and accept. During this period, the CONTRACTING PARTY must formally rule on the return request(s) (MED), sending its response to, SELETOBANKe/or its CUSTODIAN BANKS, must carry out a detailed assessment of the evidence supporting the return request (MED) or the suspicion of fraud. After 72 hours, after the evaluation, and proven the return (MED) or fraud, the resources will be returned to the paying user. If the indications are not confirmed, the block is terminated and the resource is effectively released in the receiving CONTRACTING PARTY account.

e. Directly or indirectly Notifying infringements and using security-related information - When there is a well-founded suspicion of using Pix to commit fraud, SELETOBANK and/or its CUSTODIAN BANKS must notify the infringement by registering a key Pix, in the CONTRACTOR CPF/CNPJ and in the account number. This information will be shared with other institutions whenever your Pix key is consulted, providing support for fraud prevention mechanisms. Such information may be consulted even in processes not related to Pix, such as, for example, in opening accounts, which the USER declares to know and accept.

f. Create additional mechanisms for protection - OSELETOBANK implements and adopts mechanisms similar to the mechanisms implemented by the Central Bank (BACEN) or internally to protect data related to the CONTRACTING PARTY. In addition, SELETOBANK and/or its CUSTODIAN BANKS will define internal procedures for the identification and treatment of cases in which excessive return requests (MED) or suspected fraud with Pixda CONTRACTING PARTY keys occur, which do not result in effective statements of contestation of the settlement .

10.2. The CONTRACTING PARTY obligations, in addition to those already provided for in this instrument:

a. Provide, whenever requested by SELETOBANK, vouchers, contracts and documents, a link to the commercial website used that attest to the integrity and legality of the use of the service, as well as all other essential information for the provision of the contracted services, as well as provide in your technological structure for its customers to claim the return, which must be available to end users from 8:00 am to 8:00 pm, Brasília time, every day of the year;

b. Adopt technical and administrative measures, in accordance with satisfactory security standards, capable of protecting unauthorized access and accidental or illegal situations that may imply undue access to the SELETOBANK Platform;

c. Do not use the service for illegal purposes, as well as, but not limited to, the following purposes:

i. Remunerate illegal activities, such as, but not limited to: bestiality, pedophilia, drug trafficking, money laundering, terrorist financing, sale of wild animals, products derived from smuggling or embezzlement;


ii. Transfer resources to political parties or to any Politically Exposed Person (PPE), pursuant to Circular of the Central Bank of Brazil 3,461/09;


iii. Any action that violates the anti-corruption laws in force in Brazil, in particular the provisions set out in laws 9,613/98 (“Money Laundering Law”) and 12,846/13 (“Anti-Corruption Law”); and

d. Do not take/carry out any measure contrary to the provisions of the anti-fraud, money laundering and terrorist financing laws in force in Brazil, COAF, BACEN and Federal Revenue of Brazil resolutions, such as, but not limited to, Decree 5639/2005, Decree 5640/2005 and Resolution 15 of COAF, exempting SELETOBANK from any liability regarding these issues.


e. Take all security measures so that its employees, agents, representatives and/or third parties do not violate any intellectual property rights of SELETOBANK, and must immediately report any violation of which they become aware, and must bear any damage suffered by SELETOBANK .

f. Always keep your registration with SELETOBANK updated, communicating in the manner provided for in the general provisions of this Agreement, whenever there are any changes in your data, such as corporate changes, change of administrators and/or legal representative, address, telephone and e-mail contact email.

g. Pay the Capital Quota, which is the amount of BRL 5,000.00 (five thousand reais) or equivalent in US dollars, to use the API of Seletobank – Legal Entities. Your contribution is automatically debited whenever the transactions via the CONTRACTING PARTY API reach the amount or multiple of R$ 500,000.00 (five hundred thousand reais) or equivalent in US dollars, and will be deposited in the CONTRACTING PARTY Capital Quota account. The Capital Quota account aims to maintain the sustainability of Seletobank API services – Legal Entities, and cannot be operated like the Available Balance of the digital account. Your withdrawal conditions are described in Clause 12.2 of this term, which the USER declares to know and accept.

h. Pay the Compulsory Guarantor, which is the amount equivalent to 20% (twenty percent), for using the Seletobank API – Legal Entities. Your contribution is automatically debited in all receipt transactions via API, and is deposited in the CONTRACTING PARTY Compulsory Guarantor account. The Compulsory Guarantor account aims to cover the CONTRACTING PARTY operational risks, in cases of Chargeback, PIX return, in cases of fraud in the use of the API or in those in which there is an operational failure in the information technology system of the participants involved in the transaction, and cannot be moved like the available balance of the digital account. Your withdrawal conditions are described in Clause 12.2 of this term, which the USER declares to know and accept.

From the validity


11.1. This Agreement will be in force for an indefinite period, if there is no manifestation to the contrary by either Party.

Termination and penalties

12.1. The first 30 (thirty) days of validity of this Instrument will be considered as an adaptation period for the CONTRACTING PARTY, and within this period the Agreement may be terminated by either Party without any prior notice or penalty. The CONTRACTING PARTY previously authorizes returns, including the possibility of blocking the funds held in the transactional account, of the total amount of the transaction, either due to fraud or failure in the system used by any participant involved in the transaction.

12.2. During the period of operation, SELETOBANK, at any time, may discontinue the provision of the service, as it understands that the CONTRACTING PARTY or the transactions do not meet the profile of its business. In this case, there will be communication to the USER at least 7 (days) days in advance. For the CONTRACTING PARTY that does not make use of the Seletobank API - Legal Entity (Receipts and Payments), the amounts that may exist in the account will be made available for bank transfer, via PIX or TED, respecting the daily limits available on the account, and the existing charges must be withdrawn or cancelled. CONTRACTING PARTY that makes use of the Seletobank API - Legal Entity (Receipts and Payments), the amounts that may exist in an account such as "Available Balance" will be made available for bank transfer, via PIX or TED, respecting the daily limits available in the service plan of the account, the existing charges must be collected or cancelled, the CONTRACTING PARTY will also be prevented from making new charges and will have the functions of moving the Account blocked. The amounts that may exist in an account, such as "Cota Capital"; will be transferred via PIX or TED, in full, directly to an account of the same ownership, within 3 (three) months after the closing of the balance sheet for the current year at the end of the account. The amounts that may exist in the account, such as "Compulsory Guarantor" will be transferred via PIX or TED, if there is a balance, directly to an account held by the same holder, within 3 (three) months after closing the account, during this period, the Return orders (MED) or proven frauds will be deducted from the “Compulsory Guarantor” balance and returned to the paying user. If the resources requested in the return (MED) or in the frauds proven by the paying user, are greater than the “Compulsory Guarantor” balance, a charge will be issued for the amount due to the CONTRACTING PARTY, who declares to know and accept to pay within 72 hours after being notified. .


12.2.1. Termination may occur with reason, without prior notification, in the following cases:


a. breach of any contractual clause;


b. declaration of bankruptcy, request for judicial or extrajudicial recovery, insolvency, dissolution or judicial or extrajudicial liquidation, declared or ratified;


c. suspension, by the competent authorities, of the execution of the services as a result of violation of legal provisions in force;

d. if the CONTRACTING PARTY carries out financial transactions to the PEP (Politically Exposed Person); and

e. practice of any act or activity, by the CONTRACTING PARTY, involving the laundering or concealment of assets, rights and values and the financing of terrorism, pursuant to Circular No. 3.978/2020 issued by the Central Bank.

12.2.2. The Capital Quota does not earn interest according to the time you stay in the CONTRACTING PARTY's Digital Account at Seletobank. Like any institution, we seek sustainability in the operations and services offered.

12.2.3. The Compulsory Guarantor does not earn interest according to the time you stay in the CONTRACTING PARTY digital Account at Seletobank. Like any institution, we seek safety in operations with the CONTRACTING PARTY.

12.3. If a violation of any practice of this Agreement or of the current Terms is found, SELETOBANK reserves the right to immediately terminate the existing relationship, without prejudice to the liability of the CONTRACTING PARTY, as applicable.

12.4. As duly determined by art. 67, of Circular issued by Bacen No. 3.978/2020, SELETOBANK will keep the CONTRACTING PARTY data stored for a period of 6 (six) months to 10 (ten) years after the closure of its Account, regardless of its reason. After this period, personal information will be deleted or anonymized.


12.5. It constitutes the exclusive fault of a third party and does not give rise to the liability of SELETOBANK, the eventual fact that one or more banking institutions close SELETOBANK accounts, which makes it impossible, without its will, to provide the services object of this Agreement.

of intellectual property

13.1. The CONTRACTING PARTY does not acquire, by this instrument or by using the services provided by SELETOBANK, any intellectual property rights or other exclusive rights, including patents, designs, trademarks, copyrights or any rights to confidential information or business secrets, and any rights not expressly granted hereunder are reserved.

13.1.1. There is also no transfer or licensing to the CONTRACTING PARTY of the content made available on the SELETOBANK Website, including, but not limited to, texts, graphics, images, logos, icons, photographs, editorial content, notifications, software and any other material, about or related to the SELECT BANK.

13.1.2. The CONTRACTING PARTY may not copy, reproduce, modify, republish, upload, publish, transmit or distribute any documents or information from SELETOBANK in any form or by any means, without the prior written permission of SELETOBANK. Unauthorized use of materials appearing on the Website or Platform may violate copyright, trademark and other laws, which could result in criminal or civil penalties.

13.1.3. The other rules regarding protections, permissions and prohibitions regarding intellectual property are duly described in the Trademark Policy document.

of confidentiality


14.1. The Parties undertake to keep and treat it as confidential and not reveal to third parties any Confidential Information related to the system and services, user data, industry secrets and others, or use such information for any purpose other than that provided for in this Agreement.


14.1.1. For purposes of this Agreement, the term “Confidential Information” includes:


a. information provided by the CONTRACTING PARTY and made available to SELETOBANK or its Representatives, relating to the personal data of third parties, comprising any information of a natural person that can identify him/her, such as name, identification number, location data, bank details, this being merely exemplary role for the concept of personal data;

b. any and all technical, financial, legal and/or analytical information of the Parties, not limited to information relating to their assets, operations, services, technologies, activities, financial statements, strategies, business (including documents of any kind, opinions, etc. .), intellectual property rights and other information inherent and linked to the provision of services object of this Agreement.


14.1.2. Both the Parties and their legal representatives, directors, employees, agents and consultants, including lawyers, auditors and financial advisors, are subject to the duty of secrecy and confidentiality provided for in this Agreement.


14.1.3. If either Party is required to disclose any confidential information by virtue of a court decision, law or regulation, such disclosure will only be carried out to the extent necessary for its faithful compliance.


14.2. Confidential information does not include information that is demonstrably:


a. Are publicly known at the time of their disclosure;


b. They become public knowledge through no fault of SELETOBANK and/or the CONTRACTING PARTY;


c. Are lawfully acquired from a third party that has not breached any confidentiality agreement with respect to Confidential Information.


14.3. The confidentiality obligation set forth herein will remain in force as long as the confidentiality of the information received remains and this condition will last for a period of 05 (five) years after the account is closed.

From data protection

15.1. The Parties acknowledge that, in order to perform the provision of the services object of this Agreement, it will be necessary for SELETOBANK to access certain personal data. For this reason, both undertake to comply, in what is applied to each, the rules provided for in the General Data Protection Law (Federal Law No. 13,709/2018).


15.1.1. Likewise, the Parties recognize that the current rules related to privacy and data protection provided for in the Federal Constitution, in the Consumer Protection Code, in the Civil Code, in the Civil Rights Framework for the Internet (Federal Law n. 12.965/2014) will also be applied. ), in its regulatory decree (Decree n. 8,771/2016) and in other sectoral or general rules on the subject, both of which must be responsible for their compliance.


15.2. The CONTRACTING PARTY, as Data Controller, will observe and comply with the provisions established in the LGPD, and in particular, will ensure that it has all the necessary requirements and notices to allow the legal transfer of personal data of its customers, being responsible for the completeness and legitimacy of the information for SELETOBANK to perform the services provided in this Agreement. In this sense, the CONTRACTING PARTY, in its role as Controller, declares that:

a. is aware of the Privacy Policy of the SELETOBANK virtual platform, available, in force and applicable to all users, as well as agrees and consents to the specific procedures, obligations and responsibilities of the instrument, including in relation to inherent safety precautions, which must also be adopted by the CONTRACTING PARTY; and


b. in cases of need to Process sensitive data, its collection will only take place upon the occurrence of any of the hypotheses mentioned in art. 11 of the LGPD.

15.3. SELETOBANK, as Data Operator, will process this information, solely for the provision of the contracted services and object of this instrument, in accordance with the guidelines provided by the Parent Company, now the CONTRACTING PARTY.

15.4. SELETOBANK also declares that it complies with the following procedures for the provision of contracted services, as well as declares that:


a. complies with the General Data Protection Law (Federal Law No. 13,709/2018), pursuant to the Term of Commitment;


b. adopts technical and administrative measures, in compliance with global security standards, able to protect personal data from unauthorized access and from accidental or unlawful situations of destruction, loss, alteration, communication or any form of inappropriate treatment, thus ensuring information security in relation to personal data circulating on the platform, more information on principles, responsibilities and guidelines regarding cyber and information security adopted by SELETOBANK;

c. the contracted services may be provided in Brazil, and the storage and/or processing of data may occur abroad and that, for this purpose, it adopts the security measures required in said countries for the storage and processing of data;


d. will maintain, while the Agreement is in force, the segregation of data and access controls to protect the CONTRACTING PARTY information or those that may be shared by the CONTRACTING PARTY with SELETOBANK for the provision of the contracted services; and


e. if requested, it will give the Central Bank of Brazil full and unrestricted access to a copy of this Agreement and its amendments, as well as any other information and/or document relating to the provision of the contracted services.


15.5. The Parties may at any time send requests for information regarding the security policies applied to the data collected. The requested party must answer the questions with the relevant information within 10 (ten) days from the request, always in writing.


15.6. In the event of a breach of this Agreement or the provisions of the personal data protection legislation, which causes property, moral, individual or collective damage to any third parties or to the opposing party, the obligation of reparation and liability will be given under the terms of article 42 and following of the LGPD.


general provisions

16.1. This Agreement does not generate any exclusive right to the Parties, as well as any other right or obligation other than those expressly provided herein, and any relationship, ostensible or remote, of a company, joint venture or association is excluded, none of them being authorized to assume any obligations or commitments on behalf of the other.


16.2. Any and all documents prior to the formalization of this Agreement and the Purchase Order shall be terminated by operation of law, with only the provisions set forth herein remaining in force.


16.3. The eventual tolerance by either Party regarding any breach of the terms and conditions of this Agreement will be considered mere liberality and will not be interpreted as novation, invoked precedent, waiver of rights, tacit alteration of contractual terms, acquired right or contractual amendment.


16.4. The nullity or invalidity of any of the provisions of this Agreement will not imply the nullity or invalidity of the others, and the provisions considered null or invalid must be reviewed based on the applicable legislation.


16.5. All notifications and communications made between the Parties during the term of this Agreement shall be made via correspondence with acknowledgment of receipt and/or email to the persons responsible below:;;;


16.6. The CONTRACTING PARTY authorizes SELETOBANK to disclose on its social media, website, blog, press and other materials or communication vehicles its name as a customer of the SELETOBANK services.


16.7. This Agreement is of a strictly civil nature, with no employment relationship between the CONTRACTING PARTY and the employees, directors or agents of SELETOBANK and vice versa, all expenses with the respective personnel, including the respective salaries , labor and social security charges and any other installments of any nature that may be related to said bond.


16.7.1. The Parties shall be individually responsible for all labor, social security, work-related accidents, civil liability, and any other judicial or extrajudicial charges under their exclusive responsibility.

16.7.2. Likewise, the responsible party must spontaneously appear in court, recognizing its real status as an employer and replacing the other in any proceedings, until the final decision, bearing the burden of conviction, in the event of labor claims or any indemnity actions.

16.8. This Agreement and its terms are subject to constant improvement and improvement. In this sense, SELETOBANK reserves the right to change them at any time, according to its purpose or need, for legal adequacy and compliance with the provision of law or adaptation to system updates, and the CONTRACTING PARTY undertakes to always update of your content.

16.8.1. Disagreement with the new Service Contracting Terms must be immediately informed by the CONTRACTING PARTY to SELETOBANK.

16.9. This Agreement shall be governed and interpreted in accordance with Brazilian laws, and the Parties elect the jurisdiction of the District of São Paulo, State of São Paulo, to resolve any doubts or controversies arising from this Agreement, with the express waiver of any other , however convenient it may be.


16.10. The Parties recognize as valid any formalization of the terms hereby agreed in electronic format, even if they do not use a digital certificate issued by the Brazilian Public Key Infrastructure - (ICP-Brasil), as provided in art. 10, § 2, of Provisional Measure No. 2,200-2, and agree to use electronic signatures, sufficient to ensure consent and binding of the Parties to this Agreement, pursuant to articles 107, 219 and 220 of the Civil Code.


For the purposes of providing services, the Parties agree that the expressions indicated in the terms set forth below, starting with a capital letter, will have the definition assigned to them herein, namely:

Banco Digital: Payment Institution duly classified as a sub-accreditor within a duly constituted payment arrangement.


Digital Account: Consists of opening digital accounts, with all the functionalities of payments, transfers, withdrawals, interbank services and bundled products.


SeletoBank: global brand that presents itself to the public, as well as provides a tool that performs the management and processing of payments through partner Custodian or Settlement Banks.

Seletobank Pagamentos S/A.: Payment Institution, under the prepaid payment arrangement not part of the Brazilian Payment System - SBP, issuer of electronic money and allowed to act as correspondents of financial institutions - LAW No. 12.865/2013 ART. 6, we follow the obligations and guidelines of CIRCULAR No. 3.682/2013 ART. 2, under CNPJ 34.049.840/0001-60, issued by the Federal Revenue Service of Brazil.


Seleto: legal entity governed by private law, issuer of electronic money and permitted to operate in the United States, with its head office at the following address - 55 Boardwalk, Carlton Landing, Oklahoma, 74432. Seleto Inc SA de CV: Institution of Electronic Payment Funds ( IFPE), an electronic money issuer and authorized to operate in Mexico, with operational headquarters at the following address - Manuel rivapalacios 5, Empalme Escobedo, Colonia Manuel rivapalacios cp 38210.


SeletoBank Account - means the payment account held by a Customer with the SELETOBANK platform, opened in accordance with the terms of this Agreement, used to carry out transactions.


End User or Customers of the Partner: These are the individual or legal customers who hold accounts, who use the technology platform offered by SeletoBank, through the Partner, as a result of this Agreement.

Transactions: These are all operations that can be carried out based on a digital account.


Payment Arrangement: It is the set of rules and procedures that govern the provision of a certain payment service to the public, as defined by the Central Bank.


Software Use License: authorization granted by the copyright holder of a software for another to use, in which case SELELTOBSNK will grant the license to use your system.


Custodian or Settlement Bank: It is the financial institution duly backed and authorized by the Central Bank to maintain the balance and custody of the amounts held in the holders' digital payment accounts, integrated with the processor for the operation of transactions.


Acquirer: Company or institution that provides the acceptance of means of payment acquired directly with the brands.

Brand: Brand or organization instituting a national or international payment arrangement.


API (“Application Programming Interface”): set of routines, protocols and tools for building software applications that allow the exchange of information between different programming languages and systems, as available at:


Controller: party that determines the purposes and means of processing personal data.


Personal Data: any information relating to an identified or identifiable natural person (“Data Subject”); a natural person who can be identified, directly or indirectly, in particular by reference to an identifier, such as a name, an identification number, location data, identifiers electronically or to one or more specific elements is considered identifiable physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

LGPD: Law No. 13,709/2018 – General Personal Data Protection Law LGPD.

Operator: party that processes personal data in accordance with the instructions of the Controller.

Instant Payment System (SPI):  is the single, centralized infrastructure for the settlement of instant payments between different institutions in Brazil.


PIX: instant payment solution managed by the Central Bank, which allows immediate payments and transfers, every day of the year.

Purchase Order: document signed between SELETOBANK and the CONTRACTING PARTY, by means of the digital signature of the commercial representatives of each company, and which has all the necessary information regarding the contracting of the service, such as the identification of the contract product, term and forms of payment.

Pix Key: it is the recipient's data for receiving payment, it can be:  o CPF/CNPJ; or email; or mobile number; or random key, in case the recipient does not want to give his personal data.

Agreement, Terms and Conditions for the Use of Seletobank API - Legal Entities: document signed between SELETOBANK and the CONTRACTING PARTY, by means of a digital signature of the commercial representatives of each company, and which has all the necessary information regarding the contracting of the service, as is the case of product identification, contract, term and payment methods.

Pix Key: is the recipient's data for receiving payment, it can be: CPF/CNPJ; or email; or mobile number; or random key, in case the recipient does not want to give his personal data.

Software/Platform/Website: any or all of the following: “”, or “”, through which SELETOBANK presents itself to the public, as well as provides a tool that performs the management and payment processing.

TED (''Available Electronic Transfer''): type of bank transfer with no limit on the amount in which the amount may fall on the same business day if carried out before 5 pm.

TEV (''Electronic Transfer of Values''): financial transactions carried out within the same banking institution, in which the amount will be available in the destination account within 10 (ten) minutes.


Treatment: any operation or set of operations carried out on personal data or on sets of personal data, by automated or non-automated means, such as collection, recording, organization, structuring, conservation, adaptation or alteration, recovery , consultation, use, dissemination by transmission, dissemination or any other form of making available, comparison or interconnection, limitation, erasure or destruction.

Technical Support: Includes preventive, corrective, optimization and formative maintenance. Preventive maintenance refers to proactive attitudes of the software supplier to avoid errors in the program. Corrective maintenance occurs when problems with the software have already occurred and are intended to be fixed. Optimization maintenance aims to give more functionality to the software through the complementation of features in it (updates). And formative maintenance is related to the software provider's commitment to pass on all information about its operation.

Chargeback: it is the dispute of a transaction, it occurs when the buyer (cardholder or other instrument for making purchases) contacts the card operator and claims that he did not receive the product/service or does not recognize the entry on his invoice of the card. Costs and expenses resulting from a chargeback that occurred in payment transactions that were carried out in person must be borne exclusively by the seller customer, regardless of the reasons for the chargeback.

Special Return Mechanism (MED): is the set of rules and operational procedures intended to enable the return of a PIX in cases where there is a well-founded suspicion of the use of the arrangement for the practice of fraud and in those cases in which there is an operational failure in the information technology system of any of the participants involved in the transaction.

Precautionary blocking: when fraud is suspected, institutions must temporarily block funds transferred by other people, simultaneously with crediting the amount to the account. The blocking must last a maximum of 72 hours and must be communicated to the receiving user.

Notification of infractions: when there is a well-founded suspicion of using Pix to commit fraud, institutions must notify the infraction by registering a mark on the Pix key, the user's CPF/CNPJ and the account number. This information will be shared with other institutions whenever a Pix key is consulted, providing further support to institutions' fraud prevention mechanisms.

bottom of page