CROSSPAY TERMS & CONDITIONS

1 GENERAL PROVISIONS

1.1 These Terms and Conditions govern the terms under which you may access and use this website and our mobile application and the services associated with it (together, the "Service"). By accessing, registering with and using the Service, you agree to be bound by the terms of the Terms and Conditions. If you do not wish to be bound by the Terms and Conditions do not access, register with or use the Service. The language of these Terms and Conditions is English and all Services, instructions and transactions carried out in connection with it shall be in English.

1.2 It is important that you understand that access and use of the Service is conditional on your acceptance of present Terms and Conditions.

1.3 In theseTerms and Conditions, the terms “we”, “us”, “our” refer to Crosspay Ltd. and “you”, “your” refers to any person who accesses and/or uses the Service.

1.4 Crosspay Ltd. is incorporated in England and Wales (company registration number 09749104) with its registered office at Suites 3-4, Essex House, Upminster, RM14 2SJ. Crosspay is registered as a money service business by Her Majesty's Revenue and Customs (HMRC) (MLR Registration Number: 12847230) and is authorised and regulated by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2009 for the provision of payment services (Firm Reference Number:________).

1.5 These Terms and Conditions are effective from _____2016. The Terms and Conditions may change from time to time, but changes will only be effective from the date they are made and will not change the terms on which you previously used the Service.

2 DEFINITIONS

In this Terms and Conditions:

"Destination Country" means the country in which the Recipient receives money through the Service.

"Exchange Rate Margin" means the difference between the exchange rate we buy the currency in and the exchange rate we provide to you, which is communicated to you in the order confirmation.

"Local Taxes" means any taxes or charges payable in the Destination Country.

"Payment Instrument" means a valid instrument of payment such as a bank account, debit card or credit card.

"Payout Amount" means the amount paid out to the Recipient, after any foreign exchange conversion and excluding Local Taxes.

"Prohibited purpose" means any unlawful purpose (whether such illegality arises in the country from which the funds are transferred or where they are intended to be received or in any territory with jurisdiction over the Sender or the Receiver) including, without limitation, the transfer or receipt of payment for illegal activities, the transfer of funds which constitute proceeds of crime or money laundering under the Proceeds of Crime Act 2002 or which are obtained by illegal activity, the transfer of funds for the purpose of funding illegal activity, the transfer of funds for the purpose of avoiding the seizure of such funds by law enforcement authorities or under orders of any court of law, and any transfer of funds without the permission of their owner.

"Recipient" means someone who receives money through the Service.

"Reference Number" means the unique transaction number, which will be issued to you as and which the recipient will be required to provide to our partners in order to receive the amount transferred.

"Sender" means someone who uses the Service to send money.

"Service" means the access and use of our website, mobile application and other ancillary services

"Service Fee" means the fee plus any additional charges applicable to each Transaction.

"Service Provider" means a local bank, money exchange house, or other third party service providers in the Destination Country with whom Crosspay works with in providing the Service.

"Transaction" means a specific instruction to send money through the Service.

"Transaction Amount" means the amount of money that the Sender wishes to send to the Recipient, excluding any applicable fees and prior to any foreign exchange conversion.

3 OUR OBLIGATIONS

3.1 A transaction order constitutes solely an offer to buy our services, which is subject to our discretionary acceptance. Such acceptance will be communicated to you via e-mail confirming that we are processing your request (hereinafter called “the Confirmation”). The contract between you and us (hereinafter called “the Contract”) will only be formed when the Confirmation has been sent.

3.2 We reserve the right to refuse to perform any of the Services (including after Confirmation) if:

i. We are unable to obtain satisfactory evidence of your identity;

ii. You provide us with false, incorrect or incomplete information;

iii. We are unable to reach you via contact details provided by you;

iv. Your transfer order, information or documentation is not provided sufficiently in advance to allow us to process it in accordance to your request;

v. You attempt to tamper, hack, modify, overload, or otherwise corrupt or circumvent the security and/or functionality of our website and/or the Application or to infect it with any computer virus;

vi. You are in breach of these Terms and Conditions;

vii. You or the order you placed are in breach of any applicable laws or regulations or are made for a Prohibited Purpose;

viii. Processing the Service in accordance with your order may expose us to liability;

ix. We are unable to process your transfer due to variations in business hours, currency exchange or currency availability issues or due to any Force Majeure Event;

x. We have reason to believe that any of the foregoing has occurred or is likely to occur; or

xi. Our Compliance department has taken a discretionary decision to do so.

3.3 We shall not be liable for any damages, costs or losses incurred by the Sender or the Recipient or any third party if, as a result of any of the circumstances referred to in clause 3.2, we fail to complete the transfer of funds in accordance with an order.

3.4 We reserve the right to modify or discontinue the service or any part of the Service without notice, at any time and from time to time. We may, in our absolute discretion, refuse any Transaction or limit the amount to be transferred, either on a per transaction basis or on an aggregate basis, and either on individual accounts or on related accounts.

4 YOUR OBLIGATIONS

4.1 You will not use the Service unless you are at least 18 years old and you have a legal capacity to enter into legally binding contracts.

4.2 You will pay us the us the Service Fee in addition to the Transaction Amount for every Transaction that you submit. Payment becomes due at the time that you submit your Transaction. If you submit a Transaction that results in Crosspay becoming liable for charges including but not limited to chargeback or other third party fees, you agree to reimburse us for all such fees;

4.3 We will not be responsible for any fees or charges that you may incur by a third party including and not limited to overdraft fees, interest and cash advance fees.

4.4 We reserve the right to apply a convenience fee for processing credit cards in certain jurisdictions at our discretion;

4.5 You shall comply with these Terms and Conditions as well as with any applicable laws, rules and regulations.

4.6 In relation to your registration and use of the Service you will:

i. provide us with accurate, current, complete and true evidence of your identity and any additional information or evidence we may require to confirm your identity;

ii. supply us with all information and documentation we may ask in order to process your transfer and to comply with any legal requirements applicable to us or to our partners (including without limitation, the Payment Services Regulations 2009 and the Money Laundering Regulations 2007);

iii. update all information you provide to us to keep it accurate, current, complete and true;

iv. ensure all the Transaction details are accurate before submission. It will not normally possible to change any details after submitting the Transaction;

v. not use the Service for or in connection with any Prohibited Purpose or attempt to tamper, hack, modify, overload, or otherwise corrupt or circumvent the security and/or functionality of our website and/or the Application or to infect it with any computer viruses;

vi. transfer money only from your own credit, debit card or bank account. You may not submit a transfer on behalf of another person;

vii. not open more than one account with us.

viii. keep your Reference Number secure, you must not share the Reference Number or any other transaction details with anybody except the Recipient;

ix. use the Service to send money only to people that you know personally or to pay for goods and services purchased from suppliers of whom you have sufficient knowledge and whose identity you verified. You acknowledge that we have no control over the suppliers or over the goods and services for which you use our Services to make payments and we have no responsibility for the quality, safety, legality, or the delivery of such goods or services to you.

4.7 You understand and accept that:

i. We are legally obliged to retain information about our users and the transactions that we process for up to 5 years or as may be required from time to time by applicable law or by any regulatory authorities;

ii. All currency converted as part of the Service will be converted using our rate of exchange (as published on our website and/or the Application or as may be communicated to you before we issue a Confirmation);

iii. We reserve the right to increase our Exchange Rate Margin when the markets are closed (such as weekends and bank holidays) to prevent any loss stemming from currency fluctuations and also to ensure payout for our customer. We will always display the rate that we are offering on the homepage as well as the rate applied for the transaction on the checkout page.

iv. Some countries may impose minimum and maximum thresholds in relation to the amounts that can be sent through our Service;

v. You will be liable to us for all losses which we suffer or incur in relation to any fraud or fraudulent activity by you;

vi. You must call us or write an e-mail to us as soon as possible if you believe or suspect that a transfer of funds was not executed properly or that the amount has not been received or was only partly received;

vii. It is your responsibility to inform the Recipient of the information he/she will need to provide in order to collect the money you transfer through the Service (such as photographic identification, the exact amount of the send order and the Reference Number).

5 FEES & PAYMENTS

5.1 The prices for the Service consist of the Exchange Rate Margin and the Fees.

5.2 Our Fees vary from time to time, but changes in the Fees will not apply to any orders in respect for which we have already sent you the Confirmation.

5.3 The Fees applicable for each transaction will be displayed.

5.4 If you pay by debit card it will be charged as soon as we accept your request for the transfer.

5.5 We may apply a charge for the use of certain types of cards, such as credit cards in certain jurisdictions, and any such charge will be displayed.

5.6 Some Service Providers in the Destination Country may charge you a fee (which may be deducted from the Payout Amount), we will not be liable for these charges. We will endeavour to inform you if we are aware of any such charges.

5.7 When you pay by debit card and your order is refused by your bank or by the card issuer, your bank account will not be debited. However, it is possible that your bank or the card issuer might hold the amount you tried to send. If this happens you will need to contact your bank or card issuer to resolve the issue.

5.8 Discounts on our Fees may be available through promotions that we or our partners may offer from time to time. Promotions are subject to terms and conditions and will be honoured in accordance with their published terms.

6 CANCELLATIONS & REFUNDS

6.1 You have a right to cancel an order before payment has been made to the Recipient. You may exercise this right by contacting using the details mentioned at the end of these Terms and Conditions.

6.2 If you wish to exercise your right to cancel under this clause, you must submit a written request to one of the contact points listed at the bottom of this Terms and Conditions, giving the Sender's full name, address, and phone number, together with the Transaction tracking number, Transaction Amount, and the reason for your refund request.

6.3 If you exercise your right to cancel the order after you have already paid us the funds to be transferred:

i. we will refund money paid by you and intended for a Recipient only under the condition that it has not already been paid out to the Recipient in accordance with your original instructions prior to the cancellation request; and

ii. we reserve the right to retain the Fees charged for the Service (and we may charge you with those Fees if they have not yet been paid); and

6.4 if by the time you notify us of the cancellation of the transfer we have already sent the money to one of our partners in the country of destination, we may not be able to successfully cancel the order, given that the cancellation procedures with our partners differ in length and complexity, as well as often require communication across time zones.

6.5 Refunds can take up to 7 working days to be processed and this depends as well on the customer’s bank processes, which are beyond our control.

6.6 If we do not transfer the money to the Recipient in accordance with an order within 30 days after your instructions have been received, provided that you correctly followed our procedures and complied with all our policies, you may ask for a refund of the money transferred to us and intended for the Recipient.

6.7 If the Recipient does not collect the money within 13 months after the date it became available for collection, all rights of cancellation of the order or refund of the money transferred or the Fees shall be deemed to be waived by you.

6.8 Your order expires after 1 month. If the money has not been collected (in the case of cash transfers) or the order requires a correction after 1 month of the order being placed, we reserve the right to cancel your order without prior notice to you and to refund to you the amount that was to be transferred. The refund will not include the Fees paid for the Service, which we will retain.

6.9 Any refunds will only be credited back to the same Payment Instrument used to fund the Transaction and in the same currency. No adjustment will be made for any currency fluctuations which may have occurred in the meanwhile.

7 COLLECTION & USE OF INFORMATION

7.1 The legislation of the United Kingdom and some other jurisdictions requires all financial institutions to assist in the fight against money laundering activities and the funding of terrorism by obtaining, verifying, and recording identifying information about all customers. We may therefore require you to supply us with personal identifying information and we may also legally consult other sources to obtain information about you.

7.2 We will verify your residential address and personal details in order to confirm your identity. We may also pass your personal information to a credit reference agency, which may keep a record of that information. this is done only to confirm your identity, a credit check is not performed and your credit rating will be unaffected. All information provided by you will be treated securely and strictly in accordance with the Data Protection Act 1998.

7.3 By accepting these Terms and Conditions you authorise us to make any inquiries we consider necessary to validate the information that you provide to us. We may do this directly, for example by asking you for additional information, requiring you to take steps to confirm ownership of your Payment Instruments or email address; or by verifying your information against third party databases; or through other sources.

7.4 You consent to our processing your personal information for the purposes of providing the Service, including for verification purposes as set out above. You also consent to the use of such data for communicating with you, and for statutory, accounting and archival purposes. You acknowledge that you have read and consented to Crosspay’s Privacy Policy. The Privacy Policy can be found by clicking here: Privacy Policy.

7.5 We may be required by law to provide information about you and your Transactions to government or other competent authorities as described in our Privacy Policy. You acknowledge and consent to our doing this.

8 WARRANTIES & LIABILITIES

8.1 We will refund to you any benefit which we receive as a result of any breach of our agreement with you (this means that, for example, where a money transfer has failed in such circumstances we will refund to you the Transaction Amount and the Service Fee).

8.2 If a money transfer is delayed or fails, you may have a right to receive a refund or compensation under laws relating to the provision of international money transfer services. We will provide you with the details of your rights to a refund or compensation if you contact us using the contact details at the end of this agreement.

8.3 Any claim for compensation made by you and/or a Recipient (who is not registered with us) must be supported by any available relevant documentation.

8.4 If any loss which you or a Recipient (who is not registered with us) suffers is not covered by a right to payment under the laws referred to in clause 8.2, we will only accept liability for that loss up to a limit which is the greater of: (a) the amount of any service charge; and (b) €500, unless otherwise agreed by us in writing. Our cap on our liability only limits a claim for loss arising out of any single transaction or related transactions, or (if a loss does not arise out of a transaction or transactions) any single act, omission or event or related acts, omissions or events. This means that if, for example, you suffer loss by reason of our failure to perform our agreement with you under two unrelated transactions, you might be able to claim up to €1000.

8.5 We do not, in any event, accept responsibility for:

i. any failure to perform your instructions as a result of circumstances which could reasonably be considered to be outside our control;

ii. malfunctions in communications facilities which cannot reasonably be considered to be under our control and that may affect the accuracy or timeliness of messages you send to us;

iii. any losses or delays in transmission of messages arising out of the use of any internet service provider or caused by any browser or other software which is not under our control;

iv. errors on the website or with the Service caused by incomplete or incorrect information provided to us by you or a third party.

v. Nothing in this clause 8 shall (a) exclude or limit liability on our part for death or personal injury resulting from our negligence; or (b) exclude liability for our fraud.

8.6 Where you are sending a money transfer to a Recipient who is not registered with us, you agree to accept the provisions of this clause 11 not only for yourself, but also on behalf of the Recipient.

8.7 You agree to indemnify and hold harmless Crosspay, our subsidiaries, affiliates, officers, directors, employees, agents, independent contractors, advertisers, partners, and co-branders from all loss, damage, claims, actions or demands, including reasonable legal fees, arising out of your use or misuse of this website or Service, all activities that occur under your password or account e- mail login, your violation of this Terms and Conditions or any other violation of the rights of another person or party.

9 COMMUNICATION & NOTICES

9.1 Applicable laws and regulations require that some of the information we send to you or communications between you and us should be in writing. You agree to receive such written communications electronically. You also agree that electronic means of communication shall be effective for the purpose of the Contract between you and us. The foregoing does not affect your statutory rights.

9.2 All notices given to us must be in the English Language and sent to Crosspay Ltd, Suites 3-4, Essex House Upminster, RM14 2SJ, United Kingdom. We may give notices to you in connection with any aspect of the Service or any order either through the e-mail address or the postal address that you provided to us or in any other way permitted pursuant these Terms and Conditions. Notices to you will be deemed received and properly served immediately after an e-mail is sent to you at the address you provided, or where a notice is sent to your postal address, one day after the date of posting in the case of domestic notices and 6 days in the case of international mail.

10 TRANSFER OF RIGHTS & OBLIGATIONS

10.1 We shall be entitled, without your consent, to transfer our rights and obligations under these Terms and Conditions and under any Contract to any of our affiliates or to any entity or person that acquires our business. Any such transfer of rights and obligation will have effect upon notice being given to you (including notices given through our website or the application).

10.2 We are entitled to perform our obligations to you through subcontractors, agents and other third parties.

10.3 You may only transfer your rights and obligations under the Contract if we have agreed for this in writing.

11 WAIVER

11.1 If we fail, at any time during the term of the Contract, to insist upon strict performance of any of your obligations under the Contract or any clause of these Terms and Conditions, or if we fail to exercise any of the rights or remedies to which we are entitled under the Contract or by law, this will not constitute a waiver of such rights or remedies and will not relieve you from compliance with such obligations.

11.2 A waiver by us of any default will not constitute a waiver of any subsequent default.

11.3 No waiver by us of any term in these Terms and Conditions will be effective unless it is expressly stated to be a waiver and is communicated to you in writing in accordance with these Terms and Conditions.

12 SEVERABILITY

If any court or competent authority holds that any of the provisions of these Terms and Conditions or any provisions of the Contract are invalid, unlawful or unenforceable to any extent, that shall not affect the other terms of these Terms and Conditions or the Contract which will continue in full force and effect to the fullest extent permitted by law.

13 ENTIRE AGREEMENT

These Terms and Conditions and any document expressly referred to in them constitute the whole agreement between us and you and supersede all previous discussions, correspondence, negotiations, previous arrangement, understanding or agreement between us and you relating to the subject matter hereof.

14 RIGHT TO VARY

14.1 We reserve the right to revise, amend or replace these Terms and Conditions from time to time.

14.2 Our Terms and Conditions in force at the time that you order Services from us will have effect between you and us for the purpose of that order. We may notify you of a change to the Terms and Conditions after you place an order but before we send you the Confirmation, in which case, unless you notify us within a reasonable period of time and in any event within seven days that you wish to cancel the order, the revised Terms and Conditions will apply.

15 THIRD PARTY RIGHTS

A person who is not a party to this Agreement shall have no rights to enforce the provisions of this Agreement under the Contracts (Rights of Third Parties) Act 1999.

16 LAW & JURISDICTION

Contracts for the purchase of our services using the website or the Application and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) will be governed by English law. Any dispute or claim arising out of or in connection with such contracts or their formation (including non-contractual disputes or claims) will be subject to the non-exclusive jurisdiction of the courts of England and Wales. The foregoing shall be without prejudice to your statutory rights.

17 INTELLECTUAL PROPERTY

17.1 The website and the application, the content, the name Crosspay and other names, logos, signs, domain names, email addresses and other indications of origin displayed on the website or the Application relating to our products and/or services and all intellectual property relating to them and contained in them (including but not limited to copyrights, patents, database rights, design right, trademarks,) (“IPRs”) are owned by us, our affiliates or third party licensors. Other names and logos of third party product, service and companies displayed on the website may be the trademarks of third parties. You shall not acquire any right, title or interest in any such IPRs by reason of the Services or the Contract and all right, title and interest in and to the website and the Application shall remain our property and/or the property of such other third parties.

17.2 You may use the website and the Application only for the purpose of the bona fide use of our Services as an individual consumer or business customer and only as permitted by these Terms and Conditions or described on the website. You are authorized solely to view and to retain a copy of the pages of the website for your own personal use. The website and the application and the Services may not be used for the purpose of testing the Service or to obtain information about the Service or about us. You may not duplicate, publish, modify, create derivative works from, participate in the transfer or sale of, post on the internet, or in any way distribute or exploit the website, the application or any portion thereof for any public or commercial use without our express written permission. You may not: (a) use any robot, spider, scraper or other automated device to access the website or the application or to use the Service; and/or (b) remove or alter any copyright, trade mark or other proprietary notice or legend displayed on the website (or printed pages of the website)

18 COMPLAINTS

18.1 If you wish to make a complaint about any aspect of the Crosspay’s service, please send your complaint in writing to the address shown on the Contact Us page or by email to [info@crosspayments.com].

18.2 We will acknowledge receipt of your complaint within 2 business days. We will investigate your complaint and come back to you with the results of our investigation no later than 7 business days of receipt of your complaint. If you are not satisfied with the manner in which we have dealt with your complaint, or the outcome, then you may refer the matter to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR, Tel No.: 0800 0234 567, Email: complaint.info@financial-ombudsman.org.uk

19 CONTACT INFORMATION

We can be contacted via the following means:

i. Telephone: +44 20 3096 2255

ii. Post: Suites 3-4, Essex House, Upminster, RM14 2SJ, United Kingdom,

iii. Email: info@crosspayments.com

iv. Website: www.crosspayments.com

Date Updated: 22 January 2016