GENERAL TERMS AND CONDITIONS OF MONEYMAX GMBH

The Service is offered by Moneymax GmbH, a legal entity incorporated and organized under the laws of Switzerland, with registered offices at Muhlerain, 26, 8706 Meilen, registered in the commercial Register of the Canton Zurich with registration number CHE-215.259.192;

The following terms used herein shall be construed according to the following definitions:

“Bank Card" refers to a credit card, or a debit card.

“Business Day” refers to a day that is not a Saturday or Sunday and on which banks are open for general business in Zurich, Switzerland.

“Card Issuer" refers to the issuer and the owner of a Bank Card.

"Payment Method” or “Payment Instruments” refers to the options available to the Sender to fund a money transfer through MoneyMax GmbH and may include bank card, bank account, bank transfer, direct debit and any other payment methods except cash payment.

“Prohibited Transactions” Clients may not use the Service in violation of this Terms and Condition - User Agreement or applicable laws, rules or regulations. It is a violation of this Terms & Conditions to use the Service for any of the following activities (without limitation): sexually-oriented materials or services; gambling activities; fraud; money-laundering; funding terrorist organizations; purchase or sale of firearms, illegal drugs, or other substances; or sending money to a Recipient for a Beneficiary that has violated the User Agreement.  

"Receiver" or “Beneficiary” refers to the person named as the recipient of the money transfer by the Sender.

"Sender" refers to the natural person who initiated a money transfer through MoneyMax GmbH’s application and or webpage.

"Transaction" refers to every money transfer that Sender initiates through MoneyMax GmbH’s application and or webpage.

"The Service" refers to money transfer services which MoneyMax GmbH provides through the Website or Mobile Application.

“MoneyMax” “MM”, “We”, “Our” or “Us” refers to MoneyMax GmbH.

“You”, “Your” or “Yourself” refers to any natural person who uses the Service of MoneyMax GmbH, that is MoneyMax GmbH’s customer (the Customer).

1 ABOUT US

1.1.   The MoneyMax Service is offered by MoneyMax GmbH (“MM”). MM is a Swiss limited liability company with registered offices in Canton Zurich, Meilen, registered with the Zurich Commercial Registry under the Companies Registration Office Number CHE-215.259.192.

1.2.   "MM” is subject to the supervision of the Self-regulatory Organization (SRO) PolyReg Services GmbH, Florastrasse 44, 8008 Zürich.

2 OVERVIEW OF THE SERVICE

2.1.          The Purpose. The Service is intended to allow the Customer to send money transfers around the world. The Customer should never use the Service to send money to strangers. The Service provided to the Customer is a money transfer service, which does not entail the creation of a payment account and shall be provided on a transaction per transaction basis. For the avoidance of doubt, this Terms & Conditions applies for single payment transactions.

2.2.          Specific Transactions. By completing and consenting to the information required to make a money transfer and by accepting these Terms & Conditions, the Customer instructs MM to execute a specific money transfer. At no moment in time is a framework agreement concluded between Yourself and MM which obligates MM to execute individual and subsequent money transfers.

2.3.          Eligible Users. In order to access or use the Service as a Sender, You must (i) be registered as a MM customer (ii) be at least eighteen (18) years old, with (iii) capacity to enter legally binding contracts. Other restrictions may apply. Only natural persons are eligible to use the Service.

2.5.          Accessing the Service.  In order to use the Service, You shall have a personal register created for You in Our webpage or mobile application.  Your MM register will be accessible using Your credentials. When You create a MM customer register, Your funding instruments will be treated as MM payment instruments, and other MM information will be linked to Your MM account.

2.6.          Beneficiary Consents. You confirm that Your Beneficiary has consented You to provide his or her account information and permitted MM to collect and verify information about him or her.

2.7.          Not Available to Certain jurisdictions. MM may not be available in whole or in part in different countries and jurisdictions as determined by local laws and regulations or if We reasonably determine that providing the Service in a particular country or jurisdiction presents an unacceptable level of risk to Us, Our users, Our systems or Our Service Provider without limitations.

2.8.          Not Available for Certain Transactions. MM may, at any time and in its sole discretion, refuse any Transaction. This may include Transactions from certain Senders, for certain Beneficiaries or to certain Recipients, including without limitation, entities and individuals that are included on the Specially Designated Nationals list, Non-cooperative Countries and Territories list, United Nations Security Council Sanctions List, Switzerland State Secretariat for Economic Affairs (SECO) Sanction Ordinance and such other lists as may be issued and updated from time to time by government agencies. MM may also, at any time and in Our sole discretion, limit the amount to be transferred on a per Transaction basis or an aggregated basis without prior notice. MM may reject or limit Transactions based on violations of this Terms and Conditions - User Agreement, local laws and regulations or if We reasonably determine processing a Transaction presents an unacceptable level of risk to Us, Our users, Our systems and/or Our Service Provider.

2.9           Potential Match. If a potential match is identified in accordance with Section 2.8 above, MM research the Transaction to determine if the name matched is indeed the individual on the relevant list. For this purpose, MM is entitled to request from the Sender or the designated Receiver additional details and proof of identification which may cause the Transaction to be delayed.

2.10.        Prohibited Transactions.  If You use the Service in connection with Prohibited Transactions or any other illegal conduct, MM reserves the right to report the user to the appropriate law enforcement agency or agencies. You acknowledge that MM is not liable for Your use of the Service in violation of this User Agreement.

2.11.        Suspension or Termination of Service. Subject to applicable law, MM at its sole discretion, reserves the right to suspend or terminate this Terms & Conditions, access to or use of Our websites, mobile application, software, systems (including any networks and servers used to provide any of the Services) operated by Us or on Our behalf, for any reason and at any time with or without notice to You and, upon termination of this Terms & Conditions, cancel any or all of Your Transactions and refund the applicable Transaction Amounts to You.

2.12.        Information accuracy.  You are solely liable for the completeness and accuracy of all information and documents provided by You while You register as a MM customer. Any changes to the information You provide must be notified to Us immediately, so that Your information is always up-to-date, true and complete.

3. FEES AND PAYMENTS

3.1           Transaction Fees. For each submitted Transaction, You agree to pay MM a transaction fee (the "Transaction Fee"), if applicable, plus the Transaction Amount. Any Transaction Fee will be disclosed to You prior to You authorizing a Transaction. The Transaction Fee varies by Transaction type, destination, Payment Instrument, Transaction amount and Payout Currency. The Sender shall bear all fees due to complete the money transfer unless applicable law in the destination country requires otherwise. The costs and charges will be due, immediately upon Our acceptance of Your order.

3.2.          Transaction Costs. MM does not assume any liability pertaining to costs which the Sender or any account holder incur in conjunction with the exchange rate used for the conversion into non-local currencies or for actions or omissions on behalf of the destination or interim financial services provider.

3.3.          Foreign Currency Exchange Rate. We and Our payout partners usually profit when You pay for a Transaction in one currency and the Transaction is paid out in another currency. We usually profit based on the difference between the exchange rate at which We buy foreign currency and the exchange rate provided to You. Most exchange rates are adjusted several times daily in line with the relevant closing rates of global financial markets. If a foreign currency exchange rate applies, it will be disclosed prior to You authorizing a Transaction.

3.4.          Other Charges. We are not responsible for any fees or charges that may be imposed by the financial institutions associated with Your Payment Instruments. We are not responsible for any such fees, nor are We responsible for non-sufficient funds charges, chargeback fees, or other similar charges that might be imposed on You by Your bank or financial intermediary service provider, credit or debit card issuer, or other provider in connection with Your use of the Service. If You submit a Transaction that results in Us being charged non-sufficient fund fees, chargeback fees, or other similar fees, You agree to reimburse Us for all such fees.

3.5.          Payment. Payment is due at the time Your Transaction is submitted for processing although MM may choose not to debit Your Payment Instrument immediately. In order for Us to collect payment from You and complete Your Transaction, You authorize Us to access, charge, electronically transfer, or debit funds from any of the payment instruments You provide Us in connection with Your use of the Service (each, a "Payment Instrument") including, for example, Your credit card, debit card, bank account or others. Not all Payment Instruments are available to all customers at all time. MM may, at its sole discretion, refuse Transaction funded from certain Payment Instruments. You authorize Us to re-try debiting Your Payment Instrument or a different Payment Instrument one or more times if Your payment fails or is insufficient. You confirm that You are the lawful owner of Your Payment Instrument (s).  MM reserves the right to complete the money transfer only if funds (i.e. Transfer Amounts and Fees) are received.

4. TRANSACTION PAY OUTS

4.1.          Service Providers. MM could work with local banks, money exchange houses, payment aggregators, software services providers and other third-party providers (each, a "Service Provider") to complete and execute the Service. We attempt to provide up-to-date information on Our websites regarding the location, availability, and hours of Our Service Providers. However, You should directly confirm hours of operation and location with the Service Provider.

4.2.          Verification. Beneficiary may be required to prove their identity before receiving funds by presenting authentic, valid, and current identification document(s) from a list of acceptable forms of identification in the receiving country. In addition, Beneficiary may be required to provide a Transaction number and/or another, similar identifier associated with their Transaction. You give MM permission to contact Your Beneficiary or the Service Company and store all such data, as necessary to provide the Service. Please verify the information You provide regarding Your Beneficiary (“Transaction Information”) is correct prior to submitting Your Transaction. If the Transaction Information You provide is inaccurate, Your Transaction may be sent to someone other than Your intended Recipient or Beneficiary, Your Transaction may not be reversable, and the Payout Amount may be unrecoverable.

4.3.          Transaction Cancellation. You have the right to cancel an order up until the time of payment to the recipient. After payment has been made to the Recipient or Beneficiary, cancellation is no longer possible.  You can exercise Your right of cancellation.

5. RESTRICTIONS

5.1.          General. We reserve the right at any time, and from time to time, to modify or discontinue the Service (or any part thereof) with or without notice.

5.2.          Delays or Cancellations. We may delay or cancel Your Transaction, or close Your MM register, at any time prior to completion without prior notice for reasons and to comply with applicable regulation. Business hours, systems availability and currency availability of Our Service Providers may also cause delays. Nevertheless, You may be entitled to a refund in certain circumstances.

5.3.          Commercial Transactions. You agree that You will only use the Service to send money to people or for Beneficiaries for personal reasons. If We reasonably suspect or discover You are using the Service to send Transactions from, to or on behalf of a business or other non-human entity (other than payments made to Service Companies for Beneficiaries whom You know personally), We may, at Our sole discretion, cancel Your Transaction and close Your MM registry/account. You acknowledge that MM is not liable for Your use of the Service for commercial purposes, including all risks associated with the purchase of goods or payment for services of any kind, such as (but not limited to) losses You suffer for undelivered or defective goods and services You pay for using the Service.

6. LIMITATIONS OF LIABILITY

6.1.          Fail to comply. If MM fails to comply with this Terms & Conditions and does not exercise reasonable care and skill in providing the Service, MM is responsible for loss or damage You suffer that is a foreseeable result of its breach of this Terms & Conditions or its gross negligence or willful misconduct. However, MoneyMax is not responsible for any loss or damage that is not foreseeable. Loss or damages is foreseeable if it is an obvious consequence of a MM breach or if it was contemplated by You and MM at the time You entered this Terms & Conditions. Losses of profit or business opportunities would not, for example, be foreseeable as consumers use the Service for personal not business use. MM shall not be responsible for losses due to Client’s breach of this Terms & Conditions or acting unlawfully; or unavoidable, unforeseeable events outside of MM’s control.

6.2.          Instructions. MM is not obliged to accept any instruction to execute any Transaction and will not be liable in any way for declining any such instruction or for withdrawing, terminating, or restricting Our services to You in any way. This Terms & Conditions shall, however, apply to any instruction which We choose to accept.

7. CONFIDENCIALITY AND DATA PROTECTION

7.1.          Data. Your customer data will be treated with confidentiality and respect Your privacy. MM does not consider client information that is already public knowledge (or has been made public through circumstances beyond Our control) to be confidential. Please refer to our Privacy Policy for additional information.

7.2.          Information management. We are required by law to submit Your data and any information You provide to a self-regulatory organizations or supervisory authorities (e.g. in connection with money laundering regulations with which We must comply), which are in turn bound by confidentiality obligations. Furthermore, We reserve the right to disclose Your data to other money laundering authorities (e.g. the Money Laundering Reporting Office Switzerland MROS) if We are obliged to do so, due to suspicion of money laundering, terrorist financing, funds of criminal origin or criminal organizations.

7.3.          Confidentiality. Furthermore, We will only release Your information if We are required to do so by law or court order, or if We are required to comply with legal or regulatory requirements or are requested to provide information (such as investigations by the police or other law enforcement agency in connection with the prevention or detection of crime, or to combat fraud or money laundering).