We would like to inform you about an important upgrade we are introducing to the BCX and Lova platforms starting April 30th of this year. On that day, we will begin implementing a new feature that involves separating the Lova KM wallet and the BCX KM wallet within our application. The entire process will take several days (until May 5th at the latest), and it is possible that during this period there will be occasional interruptions to the BCX platform and the Lova application. Below, you can find out more about this change and how it will ensure Lova remains your ideal choice for all electronic money transfers.
Why is this change being implemented?
As users of the BCX/Lova platforms, until now you had a single wallet in convertible marks, simply called the KM wallet. From this wallet, you could make all payments and money transfers in KM value and receive KM amounts.
With the legal changes that came into force in Republika Srpska, introduced by the Law on Electronic Money of RS (Official Gazette of Republika Srpska number 1/24), the definition of services and service providers related to electronic money has been established. The new legal framework requires the separation of digital wallets used for buying and selling virtual currencies (cryptocurrencies) from digital wallets used for other electronic transactions. Given that from day one we have operated in accordance with all applicable regulations in Bosnia and Herzegovina and under the control of domestic regulators, our development team immediately began the process of aligning the Lova application with the amended regulations. By separating the Lova KM wallet and the BCX KM wallet, we will enable all users, from across BiH, to continue using the Lova application and BCX platform as they have done until now.
What exactly is changing for you as users?
To implement the separation of these two wallets, all funds you had in your KM wallet have been moved to the BCX KM wallet. If you use the Lova application exclusively for transactions not related to cryptocurrencies (electronic money deposits, withdrawals, transfers, payments, purchasing vouchers, top-ups, etc.), you can seamlessly continue these activities using your new Lova KM wallet. If you are active in the virtual currency market or plan to become active in the future, all you need to do is transfer funds from your Lova KM wallet to your BCX KM wallet with a single click and without any fees. You can then use the BCX KM wallet for buying and selling cryptocurrencies, and at any time, transfer your funds from the BCX KM wallet to the Lova KM wallet and vice versa, each time with a single click and without any costs.
Does this change affect your funds and functionalities?
No. All funds you had in your wallet have been securely stored in your BCX KM wallet. Transferring funds between the two new wallets is completely free, whether you are moving money from the Lova KM wallet to the BCX KM wallet or from the BCX KM wallet to the Lova KM wallet. Furthermore, you can continue to use all application functionalities without interruption, with the note that your BCX KM wallet can now be used for buying and selling cryptocurrencies, and your Lova KM wallet for all other electronic money transactions (deposits, withdrawals, transfers, payments, purchasing vouchers, top-ups, etc.).
How can deposits be made to and withdrawals from the new wallets?
You can transfer funds from your Lova KM wallet to your BCX KM wallet at any time, and vice versa, from your BCX KM wallet to your Lova KM wallet. These fund transfers are completely free for all users. Additionally, you can deposit funds into your BCX KM wallet via bank transfer and withdraw them from this wallet to a bank account. Regarding the Lova KM wallet, the deposit methods remain bank transfer, bank card, Lova depositron, and xBon. You can also withdraw funds from this wallet to a bank account or depositron.
Where can you get assistance if you have questions?
If you have additional questions or difficulties using the application, please feel free to contact us by email: podrska@bcx.ba, podrska@lova.ba or call us at: 051229406 (weekdays from 08-16h).
