Linked Accounts Terms and conditions

1- Linked Accounts

Two Mercado Pago Accounts may be linked together (the "Linked Accounts"). One of them will be the "Main Account" and the other the "Secondary Account". The Linked Accounts are subject to the provisions of Mercado Pago Terms and Conditions of Use, except for those matters specifically regulated herein.

 

2- Linked accounts Registry

To create Linked Accounts, it is mandatory to fill out the registration form, accepting Mercado Pago General Terms and Conditions of Use. The creation of Linked Accounts must be requested by the User owner of the Main Account, and Mercado Pago reserves the right to decline any request, without the need to explain the reason for the refusal.

 

3- Operation of Linked Accounts

3.1. Through the Main Account, there is the possibility of creating "Buy Now" Buttons, which are associated with a Secondary Account. Payments made through such buttons will be credited: (i) in full to the Secondary Account, or (ii) in proportions (equal or different) to the Secondary Account and the Main Account, according to the criteria defined by the Main Account User when creating the respective "Buy Now" Button (the "Imputation Criteria").

3.2. Each "Buy Now" Button is autonomous, therefore, the Imputation Criteria may differ between different payment buttons created by the User of the Main Account for the same Secondary Account. The definition of the Imputation Criteria is at the exclusive discretion of the User of the Main Account, and Mercado Pago has no control over them.

3.3. The User owner of the Main Account shall have the right to arrange for the refund of payments credited to the Main Account and/or the Secondary Account, either in whole or in part.

3.4. The costs corresponding to the Service provided by Mercado Pago will be carried in whole or in part by the Main Account and/or the Secondary Account, according to the criteria defined by the User of the Main Account at the time of its creation.

 

4- Indemnity

Without prejudice to the liability and indemnity provisions set forth in Mercado Pago General Terms and Conditions of Use, the User owner of the Main Account undertakes to indemnify and hold Mercado Libre S.R.L. harmless with respect to any damage arising from and/or related to the operation of the Linked Accounts and the relationship between their respective owners and the third parties with whom they interact.

Mercado Pago offers payment services and is not authorized to operate as a financial institution by the Superintendencia Financiera de Colombia. Mercado Pago does not provide the User with any banking or exchange services. The funds deposited in the payment account do not constitute deposits in a financial institution, nor do they have any of the guarantees that such deposits may benefit from in accordance with the applicable legislation and regulations regarding deposits in financial institutions.