These Terms and Conditions (this “Agreement”) are a legal agreement between you or an entity that you are representing (“you” / “your”) and CurrencyFair Limited, a private company limited by shares incorporated in Ireland, registered with the Companies Registration Office under number 469391, with its registered office at One, Central Plaza, Dame Street, Dublin 2, D02 K7K5, Ireland, and authorised and regulated by the Central Bank of Ireland as a Payment Institution (authorisation number C57373) (“CurrencyFair” / “we” / “our” or “us”). This Agreement governs your use of the products and services made available to you directly or indirectly by us, including money transfer services, our website available at https://currencyfair.com/ (the “Website”), software, hardware, mobile applications, cloud-based software, systems or services, application programming interfaces (APIs), any other technology, and content made available by us, and any other products and services (collectively, the “Services”). If you are accessing the Services on behalf of an entity (for example, a company, non-profit entity, university, or other business or organization), you represent to us that you have authority to bind that entity to these terms, and that entity accepts these terms, and the term “you” or “your” will apply to such entity.
For U.S. transactions, CurrencyFair provides services in partnership with Community Federal Savings Bank (CFSB), an FDIC-insured financial institution, which serves as the Originating Depository Financial Institution (ODFI) under Nacha Operating Rules. CurrencyFair acts as a Third-Party Sender under these rules, facilitating ACH transactions on behalf of its customers. CurrencyFair is not itself a U.S. bank and does not provide FDIC-insured accounts.
By using CurrencyFair’s services, you acknowledge and agree that CurrencyFair acts as a Third-Party Sender under Nacha Operating Rules and that transactions are processed through Community Federal Savings Bank (CFSB), the Originating Depository Financial Institution (ODFI). You further acknowledge that CurrencyFair does not provide FDIC-insured accounts and that all fund transfers are subject to the applicable terms set by CFSB.
By using any of the Services, you agree to this Agreement and any other agreements or policies referenced within this Agreement, such as the Privacy Policy and other Separate Agreements (as defined in Section 2 below). If you do not agree to this Agreement, then you are not allowed to use the Services.
SECTION 12 OF THIS AGREEMENT INCLUDES A BINDING ARBITRATION CLAUSE, A WAIVER OF YOUR RIGHT TO FILE A LAWSUIT AND OF YOUR RIGHT TO A TRIAL BY JURY, AND A WAIVER OF YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION OR LITIGATE ON A CLASS-WIDE BASIS. THESE ARE IMPORTANT RIGHTS THAT YOU CHOOSE TO WAIVE WHEN YOU ENTER INTO THIS AGREEMENT. PLEASE REVIEW SECTION 12 BEFORE YOU CHOOSE TO USE ANY OF THE SERVICES.
We do not intend to offer any Services to children below the age of 18, or to the extent that the Services or their use violate any applicable law or regulation. Consequently, by using the Services, you warrant and certify to us that (i) your age is at least 18 years, and you are not accessing the Services or using the Services on behalf of anyone whose age is under 18 years, and (ii) you are not prohibited or restricted from accessing or using any aspect of the Services by any applicable law or regulation. If at any time you are not in full compliance with all foregoing provisions of this Section, you are in material violation of this Agreement, and you must immediately cease all use of and access to the Services.
We reserve the right to change this Agreement and each Separate Agreement (as defined in Section 2 below) at any time, and the changes will be effective when the revised Agreement or respective Separate Agreement is posted by us, or when we notify you by other means consistent with this Agreement. We may also change or discontinue the Services at any time, in whole or in part. Your continued use of the Services covered by the modified Agreement or Separate Agreement indicates your agreement to the changes in the respective Agreement or Separate Agreement. Please review this Agreement and each Separate Agreement on a regular basis, and please remain informed about the evolution of our Services and of this Agreement and each Separate Agreement.
Privacy Policy
Our Privacy Policy (“Privacy Policy”) is available on our website and may be accessed at www.currencyfair.com/us/trust/privacy-policy/. By using any of the Services, you agree to our Privacy Policy.
CurrencyFair Consumer Money Transfer Services
If you choose to use our Money Transfer Services for consumers available at https://www.currencyfair.com/ (the “Money Transfer Services”), you agree to the additional terms and conditions applicable to the Money Transfer Services (the “Money Transfer Agreement”). The Money Transfer Services are services that we make available to you through a cloud-based platform to allow you to send money overseas at great exchange rates with no hidden fees. To use the Money Transfer Services, you must accept and agree to the Money Transfer Agreement, and your use of the Money Transfer Service automatically indicates and constitutes your acceptance of the Money Transfer Agreement. The Money Transfer Services will be considered to be part of the “Services” as defined in this Agreement and will be subject to this Agreement and the Money Transfer Agreement, including the limitations of liability and disclaimers in Section 10 of this Agreement. For clarification, any dispute that may arise between you and us in connection with the Money Transfer Services and/or the Money Transfer Agreement will be subject to Section 12 below, which includes a binding arbitration clause, a waiver of your right to file a lawsuit and of your right to a trial by jury, and a waiver of your right to participate in a class action or litigate on a class-wide basis.
CurrencyFair Business Services
If you choose to use our CurrencyFair Business Services for businesses available at https://www.currencyfair.com/business/ (the “CurrencyFair Business Services”), you agree to the additional terms and conditions applicable to the CurrencyFair Business Services (the “CurrencyFair Business Agreement”). The CurrencyFair Business Services are services that we make available to you through a cloud-based platform to allow your business to exchange currencies fast and at low rates, pay workers, suppliers, and contractors from abroad, receive international payments and avoid excessive international banking fees, and conduct other business activities. To use the CurrencyFair Business Services, you must accept and agree to the CurrencyFair Business Agreement, and your use of the CurrencyFair Business Service automatically indicates and constitutes your acceptance of the CurrencyFair Business Agreement. The CurrencyFair Business Services will be considered to be part of the “Services” as defined in this Agreement and will be subject to this Agreement and the CurrencyFair Business Agreement, including the limitations of liability and disclaimers in Section 10 of this Agreement. For clarification, any dispute that may arise between you and us in connection with the CurrencyFair Business Services and/or the CurrencyFair Business Agreement will be subject to Section 12 below, which includes a binding arbitration clause, a waiver of your right to file a lawsuit and of your right to a trial by jury, and a waiver of your right to participate in a class action or litigate on a class-wide basis.
Priority of Separate Agreements
If you have entered or will enter at any time into a different agreement with us that includes an affirmative written or electronic acceptance by you and us (e.g., a Master Services Agreement, a click-through agreement that you accept as part of accessing Services through a portal made available by us, an agreement that allows you to access an Application Programming Interface (API), an agreement that allows you to download or use a software program or Software Development Kit (SDK), etc.) (each a “Dedicated Agreement”), then the Dedicated Agreement will prevail over this Agreement with respect to the Services to which such Separate Agreement applies and to the extent of any conflict with this Agreement.
Definition of 'Separate Agreement' and Coverage
Each legal agreement entered into by you and us other than this Agreement, including the Privacy Policy, Money Transfer Agreement, CurrencyFair Business Agreement, and any Dedicated Agreement, is denoted a “Separate Agreement.” For the purposes of this Agreement, the “Services” will also include any and all services that we provide under each Separate Agreement, including the Money Transfer Services and the CurrencyFair Business Services, and all such Services provided under each Separate Agreement will be subject to the terms of this Agreement and the respective Separate Agreement (including Sections 10 and 12 of this Agreement).
The Services are protected by various intellectual property rights, including copyrights, patents, and trade secrets. Subject to your full compliance with this Agreement, we grant you a limited, nonexclusive, nontransferable and non-assignable license, without the right to sublicense, during the term of this Agreement, and you accept such license, to use the Services solely in the form provided by us, and in accordance with any documentation or instructions made available by us and applicable to the respective Services, for as long as you continue to have access to such Services under this Agreement.
Except as expressly provided in Section 3(a) above, we do not grant you any other license or right, whether by implication, estoppel, or otherwise, and we reserve all other rights.
As part of using the Services, you may have the opportunity to use the Services to transmit, store or otherwise process content or data that you or parties affiliated with you provide (“Your Data”). Your Data also includes any content or data that you and/or any other party affiliated with you upload to, store within, transmit through, process through, or otherwise make available to us.
You are responsible for Your Data and for your activities in connection with Your Data, including in connection with uploading, posting, storing, transmitting, processing, downloading, retrieving, or otherwise processing Your Data through or in connection with the Services.
You acknowledge and agree that as an Originator, you are required to establish, implement, and maintain commercially reasonable administrative, technical, and physical safeguards to protect the security and confidentiality of Receiver's Entry information, in accordance with the Nacha Operating Rules, and that this information must be protected through encryption, truncation, or other methods during transmission and storage.
Except to the extent that we expressly notify you in writing that our Services are compliant with specific laws, regulations or standards, and except with respect to laws and regulations with which our Services must inherently comply in the form made available to you under this Agreement, the Services are not designed, rated, validated, audited, approved or otherwise intended to comply with any other law, regulation or standard (“Excluded Regulations”). For example, unless we notify you otherwise in writing, the aspects of our Services that you access are not compliant with the Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), or various International Organization for Standardization (ISO) standards). You will not use the Services to upload, post, store, transmit, process, download, retrieve, transmit or otherwise process any of Your Data that requires compliance with, or is otherwise subject to any such Excluded Regulation. You must ensure that Your Data is not subject to, and does not require the Services to be compliant with any Excluded Regulations. To the extent that you and us have entered into a Separate Agreement under which we assume any obligations with respect to any Excluded Regulations, such Separate Agreement will govern those obligations.
You will retain ownership of Your Data, or to the extent that you do not own specific portions of Your Data, you will retain your rights to such portions of Your Data. Notwithstanding the foregoing, you grant to us a license: (i) during the term of this Agreement, to provide to you the Services; (ii) during and after the term of this Agreement, to use Your Data in accordance with the Privacy Policy and to otherwise operate, improve, expand and otherwise modify our Services (e.g., to create directories or databases, facilitate business transactions between you and other customers of ours, organize content, make available information about you to other customers of ours in ways consistent with how we make available information about other customers of ours to you, etc.), and (iii) during and after the term of this Agreement, to anonymize Your Data in accordance with applicable laws and regulations and to use Your Data in anonymized form (e.g., after we delete your personally identifiable information (PII), we may retain and continue to use Your Data in anonymized form) to improve, expand and otherwise modify our Services. The license that you are granting us in the foregoing clauses of this Section is nonexclusive, worldwide, perpetual and irrevocable. Further, you warrant to us that by processing Your Data through the Services or otherwise making available to us Your Data in connection with the Services, you have the right, and you have obtained the right from any third parties that may have rights to any of Your Data, to grant to us the license granted in the foregoing clauses of this Section. Notwithstanding the foregoing, please be assured that we will comply with any laws and regulations applicable while exercising the license granted to us in the foregoing clauses of this Section, including obligations under applicable privacy laws to safeguard your PII, limit use of your PII to the scope of the rights that you grant to us, and delete PII upon your request (in which case we may retain and continue to use Your Data in anonymized format as specified above). Further information about how we use Your Data is available in the Privacy Policy.
Please review now, and you must continue to review, on an ongoing basis, our Privacy Policy. You agree to the Privacy Policy, and to any changes to the Privacy Policy that we may publish from time to time.
You agree that we may use and maintain Your Data and anonymized versions of Your Data according to the Privacy Policy, as part of the Services. You give us permission to combine Your Data, anonymized versions of Your Data, and other data that we collect about you with data of other users of the Services and/or other services that we operate. For example, this means that we may use Your Data, anonymized versions of Your Data, other data that we collect about you, and other users' PII or non-identifiable and aggregated data to improve the Services or to design promotions and provide ways for you to compare business practices with other users. We may access or store Your Data and anonymized versions of Your Data in multiple countries, including countries outside of your own country, to the extent permitted by applicable law. You give us permission to share or publish summary results relating to research data that may involve you and to distribute or license such data to third parties.
The Website and/or the Services may allow you to create an account (“Account”). If the Website and/or Services permit you to create more than one account, or one or more sub-accounts, all such accounts are collectively considered to be your “Account.” You are not allowed to create any anonymous accounts that do not reflect your real identity, and you must not create more than the maximum number of accounts that the Services and/or the Website specify. You will not attempt to bypass any limitations that we place on the number or types of accounts that you may hold as part of your Account, or on the number of types of users that we authorize to access your Account. You will ensure that no user, who is authorized by you to access your Account in accordance with this Agreement, will share any login credentials for your Account with any other person, unless we expressly permit such sharing in writing. Depending on the functionality that we make available to you through the Account, you may be able to use the Account to access, use and/or manage various aspects of the Services, Your Data (in whole or in part), and/or other functionality. You are responsible at all times for all activities and use of your Account, and you must safeguard all login credentials and passwords that access your Account. You must notify us immediately if you believe that your Account was compromised, or if any user of your Account is engaging in any wrongful conduct, including any breach of this agreement or any violation of any applicable law or regulation. You will indemnify, defend and hold us harmless for and against all actions, claims, losses, expenses, or other liability that we or any party affiliated with us (including our other customers and vendors) may incur in connection with the use of your Account, whether or not authorized by you.
Your access to the Services may be granted through a pass-through or shared login process, under which you use your login credentials for a platform operated by another party, and we grant you access to the Services through those credentials. For example, we may make available to you an integration with a platform operated by a third party (e.g., Google, Facebook, etc.), and by using your login credentials from such platform, you may be logged into some aspect of the Services (e.g., through an OAuth or similar process). Since in this situation the login credentials are processed by a third party and data is transmitted between a third party and our Services, you understand that your login credentials may be compromised, stolen, misappropriated or otherwise corrupted, either on the third party’s platform, in transit, or within the Services. You consequently assume all responsibility and risk in connection with such pass-through login processes and the use of your login credentials from other platforms, including the risks that (i) access to the Services using credentials from another platform may not work or may not be reliable, (ii) your login credentials from the other platform may be compromised, stolen or lost, and therefore your Account for the Services, and/or your account for the services on the other platform, may be compromised or misappropriated and your data (both on the Services and on the other platform) may be corrupted, lost or stolen.
You will:
Use your real name and contact information in your communications with us, in your profile, and in communications through the Services. Unless we direct you otherwise, it is acceptable for you to use a nickname as long as your real name remains clearly accessible to us and to other users who interact with you through the Services, or who view your profile through the Services. If you are an entity, you will ensure that your employees and other users authorized by us to access the Services on your behalf also use their real names and contact information in communications with us, in their profiles, and in communications through the Services.
Use the Services in a professional manner.
Comply with all laws and regulations applicable to you and Your Data in connection with this Agreement and with the Services. You will not use or access, and you will not directly or indirectly permit any other party to use or access the Services in a manner that violates any applicable law, regulation or this Agreement.
Archive Your Data frequently. Unless we have entered into any Separate Agreement under which we assume responsibility for maintaining and storing Your Data, you are responsible for any of Your Data that is lost or unrecoverable.
Obtain all rights and consents from any third parties that may have rights to any of Your Data, to the extent that such third-party rights and consents are needed (1) for you to upload Your Data to the Services, store Your Data in the Services, or otherwise process Your Data through or in connection the Services, and/or (2) for you to grant to us the licenses and other rights that you are granting to us with respect to Your Data under this Agreement (including the Privacy Policy).
Evaluate, confirm, and validate any data that you find, retrieve, or process using the Services or within our websites, including information about other entities, information submitted by other users, reviews of products or services, reviews of entities, and any other information that you obtain in connection with the Services.
Maintaining the Services updated can help with compatibility, security, and functionality. We may update the Services from time to time with tools, utilities, improvements, third-party applications, or other general updates or upgrades. To the extent that any updates or upgrades provided by us to any aspect of the Services require your approval or consent, you will accept and consent to such updates and upgrades, and you will apply the updates and upgrades as specified by us.
Communicate with us and with our representatives in a professional manner, and without using any language or engaging in any conduct that is illegal, fraudulent, defamatory, obscene, pornographic, profane, threatening, abusive, hateful, harassing, offensive, or otherwise inappropriate or objectionable.
Additionally, you will not:
Create a false identity on the Services, misrepresent your identity, create a profile for anyone other than you, or use or attempt to use any account other than your main Account formally registered with us.
Develop, support, or use software, devices, scripts, robots, or any other means or processes (including crawlers, organized teams of humans, browser plugins and add-ons, or any other technology) to scrape the Services or otherwise copy profiles and other data from the Services, except to the extent that such prohibition is not permitted under applicable laws.
Override any security feature or bypass or circumvent any access controls or use limits of the Service (such as caps on keyword searches, API access limitations, or limits on profile views).
Copy, use, disclose or distribute the Services in whole or in part, or any information obtained from the Services, whether directly or through third parties (such as search engines), without our consent.
Disclose information that you do not have the consent to disclose (such as confidential information of others (including of your employer if you are an individual)).
Violate the intellectual property rights of others, including copyrights, patents, trademarks, trade secrets, or other proprietary rights. For example, you must not copy or distribute (except through the available Services sharing functionality) the posts or other content of others without their permission.
Violate our intellectual property rights or any of our other rights, including, without limitation, (i) copying or distributing our technology, software, data, documentation, learning videos or other materials, except to the extent that we expressly authorize you to do so in writing, or (ii) using our trademarks, logos or brands in any business name, email, or URL, except to the extent that we expressly authorize you to do so in writing.
Introduce into the Services or otherwise expose the Services to any software viruses, worms, or any other malicious or harmful code.
Reverse engineer, decompile, disassemble, decipher or otherwise attempt to derive the source code for the Services or any related technology that is not open source.
Imply or state that you are affiliated with or endorsed by us without our express consent.
Rent, lease, loan, trade, sell, resell, sublicense, copy, replicate, or otherwise monetize any aspect of the Services or any data made available through the Services (other than Your Data) without our consent.
Deep-link to our Services for any purpose other than to promote your profile on our Services, without our consent.
Use bots or other automated methods to access the Services, add or download contacts, send or redirect messages.
Monitor or evaluate the availability, performance or functionality of the Services for any competitive purpose, or perform or assist any other party to perform any benchmarking on the Services.
Engage in “framing,” “mirroring,” or otherwise simulating the appearance or function of the Services.
Overlay or otherwise modify the Services or their appearance (such as by inserting elements into the Services or removing, covering, or obscuring an advertisement included on the Services).
Interfere with the operation of, or place an unreasonable load on, the Services (e.g., spam, denial of service attack, viruses, gaming algorithms).
Violate any Separate Agreements in which you may enter in connection with the Services.
Upload to the Services or otherwise process through the Services any illegal, fraudulent, defamatory, obscene, pornographic, profane, threatening, abusive, hateful, harassing, offensive, inappropriate or objectionable information or communications of any kind, including without limitation conduct that would encourage "flaming" others, or criminal or civil liability under any local, state, federal or foreign law.
Impersonate someone else or falsely represent your identity or qualifications, or violate any other party’s privacy or other rights.
Offer or otherwise facilitate through the Services any investment opportunities, solicitations, chain letters, pyramid schemes, other unsolicited commercial communication or engage in spamming or flooding.
Upload or otherwise process through the Services any information, software or content which is not legally yours, without permission from the owner of the respective intellectual property rights.
Provide access to the Services to any other party, or otherwise enable any other party to access any aspect of the Services.
Make the Services available on any file-sharing or application hosting service. Process any content (including Your Data) through the Services, in ways that are illegal or not expressly approved by us.
Process any content (including Your Data) through the Services, to do any of the following: (1) negatively impact the performance of the Services or of the technology and resources that we use to deliver the Services, (2) consume a disproportionate amount of computational power, data storage or data communication volume (e.g., you may not mine a cryptocurrency or otherwise utilize large computational power from the Services without our express and specific approval in writing), or (3) make a disproportionate number of calls to any particular API.
Hack any aspect of the Services, or otherwise seek to obtain access to any aspect of the Services that you have not been expressly authorized by us to access.
Process any content (including Your Data) through the Services to hack any other technology, system, software, device or service, or to otherwise seek to obtain access to any other technology, system, software, device or service that you have not been expressly authorized to access.
Post links to third-party websites or services through the Services, unless such links are reasonably relevant to content that you are expressly allowed to process through the Services and you are posting them in good faith. For example, you must not post links to third party website if your intent is reasonably calculated to generate Search Engine Optimization (SEO) value for that other website and to drive traffic to that website, but you may post such links if you are referencing in good faith a third-party publication reasonably relevant to content (e.g., a permissible review) that is properly posted within the Services. We reserve the right to edit or remove any content, and to edit, remove or redirect any link posted by you or any other user within the Services.
For any subscription or other payment obligations that you incur with respect to Services that are covered by a Separate Agreement (e.g., the Money Transfer Agreement described in Section 2 above), you will make payments as provided in the respective Separate Agreement.
For any subscription or other payment obligations that you incur with respect to Services that are not covered by a Separate Agreement, the following apply, unless we notify you otherwise in writing:
Payments will be billed to you in U.S. dollars, and your account will be debited when you subscribe and provide your payment information, unless stated otherwise in the program ordering or payment terms on the website for the Services.
By initiating a transaction through CurrencyFair, you authorize CFSB to debit or credit your designated bank account via the Automated Clearing House (ACH) network. This authorization complies with Nacha Operating Rules, and you agree that such authorizations will be retained for a minimum of two (2) years from the date of the last transaction. If you dispute a transaction, you must notify CurrencyFair within sixty (60) days of the transaction date.
Customer Authorization Warranties
By using the Services to initiate an ACH transaction, you, as the Originator, specifically authorize CurrencyFair (the Third-Party Sender) and Community Federal Savings Bank (CFSB, the ODFI) to originate the corresponding ACH entries on your behalf to the Receiver's account.
You, as the “Originator” under the Nacha Operating Rules, represent and warrant that each ACH debit or credit entry you initiate through the Services is properly authorized by the Receiver in accordance with the Nacha Operating Rules, and that you will retain and, upon request, provide CurrencyFair or CFSB with a copy of such authorization. You further agree not to re-initiate any debit entry returned as unauthorized, stopped, or revoked except as permitted by the Nacha Operating Rules.
You may revoke your ACH debit authorization by providing CurrencyFair with written notice at least three (3) business days before the scheduled debit date. Revocation does not affect transactions already submitted for processing.
Originator's Nacha Compliance
You agree to be bound by, and comply with, the Nacha Operating Rules and all associated rules and guidelines, as amended from time to time.
Notifications of Change (NOCs)
You agree to promptly correct any information identified in a Notification of Change (“NOC”) received from an RDFI, no later than six (6) banking days after receipt or prior to initiating another entry, whichever is earlier.
For ACH purposes, CurrencyFair's services are restricted to originating PPD (Prearranged Payment and Deposit) entries for consumer accounts and CCD (Corporate Credit or Debit) entries for business accounts. You shall not initiate any other Standard Entry Class (SEC) code entries through the Services.
Payment Methods
You must pay with one of the following:
A valid credit card or debit card acceptable to us;
Sufficient funds in a checking or savings account to cover an electronic debit of the payment due; or
Using another payment option that we approve in writing (e.g., a form of payment that we identify and approve on our website or through a direct communication with you).
If your payment and registration information is not accurate, current, and complete, and you do not notify us promptly when such information changes, we may suspend or terminate your Account and refuse to allow you access to the Services.
If you do not notify us of updates to your payment method (e.g., credit card expiration date), to avoid interruption of your service, we may participate in programs supported by your card provider (e.g., account updater services, recurring billing programs, etc.) to try to update your payment information, and you authorize us to continue billing your payment account with the updated information that we obtain to the extent that you have remaining payment obligations under an agreement then in effect between you and us.
We will automatically renew your monthly, quarterly, or annual Services at the then-current rates, unless the Services are cancelled or terminated under this Agreement.
Additional cancellation or renewal terms may be provided to you on the website for the Services.
Transaction Limits and Restrictions
Transaction limits are as follows:
CurrencyFair reserves the right to modify these limits at its sole discretion, with prior notice to customers.
Return Rate Thresholds
You acknowledge that Nacha imposes limits on unauthorized debit returns (currently 0.5%), administrative returns (currently 3%), and overall returns (currently 15%). If your return rates exceed these thresholds, CurrencyFair may suspend or terminate your use of the Services, and you agree to reimburse CurrencyFair for any fines, penalties, or costs imposed by CFSB or Nacha as a result.
App may require a mobile phone with certain characteristics to operate properly. You agree that you are solely responsible for these requirements, including any applicable changes, updates and fees, as well as the terms of your agreement with your mobile device and telecommunications provider.
We make no warranties or representations of any kind, and we affirmatively disclaim all warranties and representations, whether express, statutory or implied, regarding:
the availability of telecommunication services from your or any other telecommunications services provider and access by you or any other user to the Services at any time or from any location;
any loss, damage, or other security intrusion of the telecommunication Services;
compatibility between our Services and your mobile device; and/or
any disclosure of information to third parties or failure to transmit any data, communications or settings connected with the Services.
The Services may include a community forum or other social features to exchange content and information with other users of the Services and the public. We do not support and are not responsible for the content in these community forums. Please use respect when you interact with other users. Do not reveal information that you do not want to make public. Other users may post hypertext links to content of third parties for which we are not responsible.
You give us the right to freely use any feedback that you provide about the Services and the content processed through the Services. You agree that we may use your feedback, suggestions, or ideas in any way, including in future modifications of the Services, other products or services, advertising or marketing materials. You grant us a nonexclusive, worldwide, transferable, assignable, sublicensable, irrevocable and perpetual, fully paid-up, royalty-free license to use in any way the feedback you provide to us.
We may monitor Your Data. We may, but have no obligation to, monitor content on the Services. We may disclose any information, including Your Data, as reasonably helpful or necessary to satisfy our legal obligations, respond to or otherwise address any requests from courts and other governmental or legal authorities, protect us or our customers, or operate the Services. We, in our sole discretion, may refuse to publicly post, remove, or refuse to remove any of Your Data or other content, in whole or in part, alleged to be unacceptable, undesirable, inappropriate, or in violation of this Agreement.
We do not give professional advice. Unless specifically included with the Services, we are not in the business of providing legal, financial, accounting, tax, health care, real estate or other professional services or advice. Consult the services of a competent professional when you need this type of assistance.
We may tell you about other services or products provided by us or by other business affiliates of ours. You may be offered other services, products, or promotions by us or by third parties. Additional terms and conditions and fees may apply to such services, products, or promotions, and you must observe and comply with such terms, conditions and fees. With some other such services or products, you may upload or enter data from your Account (e.g., names, addresses, login credentials, phone numbers, purchases, credit cards or other forms of payment, etc.) to third parties directly or via the Internet. You assume the risk that any transactions that you initiate with third parties, whether through the Services or directly with such third parties, may fail or that your data may be lost, stolen, intercepted, or misappropriated. For transactions with third parties, whether conducted through the Services or directly with such third parties, you will direct your questions and seek refunds directly to and from such third parties. Unless we agree otherwise in writing, we are not responsible for transactions that you conduct with third parties, whether through the Services or directly with such third parties.
We may send you communications about the Services or other services or products. You agree that we may send these communications to you via email or by posting them on our websites.
You are responsible for securely managing your password(s) for the Services. If you know or suspect that anyone other than you knows any password relating to the Services, or if you become aware of any unauthorized access to your Account, you must promptly notify us.
You may provide us with your telephone number as part of your customer record or registration or via other methods. You understand and agree that we may use your telephone number for "multi-factor authentication" ("MFA"), to confirm your identity and help protect the security of your Account. Part of the MFA identity verification process may involve us sending text messages containing security codes to your telephone number. You agree to receive these texts from us containing security codes as part of the MFA process. In addition, you agree that we may send text messages, SMS messages, pre-recorded voice messages, and other similar communications to the telephone number you provide for other limited purposes, including: providing you with important critical notices regarding your use of the Services, or fulfilling a request made by you through the Services.
If you opt in, or otherwise agree to allow us to send to you email, text, SMS or other similar communications for marketing or other commercial purposes, nor directly related to the Services, you acknowledge and agree that we may continue to send you such communications until you opt out or otherwise revoke your consent. To opt out or revoke your consent for such communications, you will use the specific methods that we provide to you in connection with the respective communications, or you may contact us at the following address: [optout@currencyfair.com].
Regulatory Compliance
CurrencyFair prohibits transactions involving parties subject to U.S. economic sanctions, including those listed by the Office of Foreign Assets Control (OFAC). Any transaction found to violate U.S. sanctions laws may be rejected, blocked, or reported to the relevant authorities.
You acknowledge that the Services are subject to restrictions under applicable United States of America (USA) export control laws, including USA trade embargoes and sanctions and security requirements, and applicable country or local laws to the extent compatible with USA laws. You agree that you will comply with these laws and regulations and will not export, re-export, import or otherwise make available products and/or technical data in connection with the Services and this Agreement in violation of these laws, directly or indirectly.
We hold various trademarks, and some of our trademarks may be registered in one or more jurisdictions. You are not permitted to use any of our trademarks without our express written approval.
The Services may allow you to post reviews of various aspects of the Services, of content made available through the Services, and/or of any dedicated applications that may be available to you as part of the Services, such as mobile apps or web applications (such dedicated applications are denoted “Apps”). The Services may also allow you to post comments on such reviews made by other parties.
Any reviews or comments that you post may be posted under your name as submitted to us for the Services. If you do not want your name to appear with any reviews or comments, do not post any reviews or comments through the Services. To be useful to other users, those reviews and comments you post must be made in good faith and after a reasonable evaluation of the subject matter that you are addressing. Consequently, you agree that:
You will not post multiple reviews or comments that are reasonably calculated to give the impression that a Service feature, comment or App is more or less popular, or to improperly bias the perception of the respective feature, comment or App. For example, you will not generate multiple “likes” or endorsements of an App that you own or operate because this would give the impression that the App is more popular than it really is and would falsely suggest that multiple users endorsed the App.
If you post a review of, or comment on, an App that you own or operate, you must disclose your affiliation.
If you post a review of, or comment on, an App that is owned or operated by a competitor of yours, you must disclose your affiliation. You must not comment on competitor Apps or comments in bad faith, as much as you don’t want such competitors to unfairly deprecate your Apps or comments.
We reserve the right, in our sole discretion and for any reason at any time, to remove or edit any review or comment in connection with the Services.
Content unrelated to the Services is prohibited without our express written permission, and you must not post such content through or in connection with the Services. This includes, for example, (i) comments or reviews about our business, stock or employees, (ii) comments or reviews about the business, stock and employees of other companies, or (iii) comments or reviews about unrelated products or services. In addition, reviews and comments may not contain content that:
is inconsistent with the permissible uses contemplated by this Agreement;
is harmful, threatening, abusive, insulting, harassing, defamatory, libelous, profane, sexually explicit, obscene, or otherwise offensive or objectionable;
is false, fraudulent or misleading;
violates applicable law, including any privacy, intellectual property or other rights of a third party, or suggests or encourages unlawful activity;
constitutes advertising or any other form of commercial solicitation; or
impersonates any other person or entity, including any of our employees.
CurrencyFair is responsible for the proper initiation of transactions, but does not control the timing or settlement of funds once processed by the ACH network. CurrencyFair shall not be liable for indirect, special, or consequential damages related to ACH transaction delays, unless due to gross negligence or wilful misconduct. Under Nacha Rule 2.4, liability for ACH transaction errors is limited to the transaction amount or the amount required under applicable law.
Acknowledging that ACH return and reversal processing may be handled manually by CurrencyFair, we shall not be liable for any losses or damages, including consequential damages, resulting from delays in initiating, accepting, or refusing ACH return entries, or reversing files where such delay is not due to our gross negligence or wilful misconduct, and you agree to provide all necessary information for such actions promptly.
You will indemnify and hold us and our Affiliated Entities harmless from any and all claims, liability and expenses, including reasonable attorneys' fees and costs, arising out of your use of the Services or breach of this Agreement (collectively referred to as "Claims"). We reserve the right, in our sole discretion and at our own expense, to assume the exclusive defense and control of any Claims. You agree to reasonably cooperate as requested by us in the defense of any Claims. “Our Affiliated Entities” means (i) our direct and indirect business affiliates, customers, licensees, users, vendors, investors and shareholders (whether now existing, prospective or future), predecessors, agents, attorneys, advisors, insurers, directors, employees, officers, and any other similar parties, and (ii) any and all of the foregoing’s successors or assigns.
YOUR USE OF THE SERVICES, SOFTWARE, AND CONTENT IS ENTIRELY AT YOUR OWN RISK. EXCEPT AS DESCRIBED IN THIS AGREEMENT, THE SERVICES ARE PROVIDED "AS IS." TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAWS, WE AND OUR AFFILIATED ENTITIES DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY THAT THE SERVICES ARE FIT FOR A PARTICULAR PURPOSE, TITLE, MERCHANTABILITY, DATA LOSS, NON-INTERFERENCE WITH OR NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS, OR THE ACCURACY, RELIABILITY, QUALITY OR CONTENT IN OR LINKED TO THE SERVICES. WE AND OUR AFFILIATED ENTITIES DO NOT WARRANT THAT THE SERVICES AND DATA PROCESSED THROUGH THE SERVICES ARE SECURE, ACCURATE, FREE FROM BUGS, VIRUSES, INTERRUPTION, ERRORS, THEFT OR DESTRUCTION. IF ANY OF THESE EXCLUSIONS FOR IMPLIED WARRANTIES DO NOT APPLY TO YOU OR ARE VOID WITH RESPECT TO YOU UNDER ANY APPLICABLE LAWS OR REGULATIONS, THE RESPECTIVE WARRANTIES THAT CANNOT BE EXCLUDED ARE LIMITED TO THE SHORTEST PERIOD PERMITTED BY THOSE LAWS AND REGULATIONS.
WE AND OUR AFFILIATED ENTITIES DISCLAIM ANY REPRESENTATIONS OR WARRANTIES THAT YOUR USE OF THE SERVICES WILL SATISFY OR ENSURE COMPLIANCE WITH ANY LEGAL OBLIGATIONS, LAWS OR REGULATIONS.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, OUR TOTAL AND CUMULATIVE LIABILITY OVER THE LIFE OF THIS AGREEMENT, TOGETHER WITH THE TOTAL AND CUMULATIVE LIABILITY OF OUR AFFILIATED ENTITIES OVER THE LIFE OF THIS AGREEMENT, FOR ALL CLAIMS, BREACHES AND ALL OTHER LIABILITIES ARISING OUT OF OR OTHERWISE RELATING TO THIS AGREEMENT AND THE SERVICES, TO YOU AND TO ALL OTHER PARTIES DIRECTLY OR INDIRECTLY AFFILIATED WITH YOU OR WITH THE RESPECTIVE CLAIMS SHALL BE LIMITED AT EACH POINT IN TIME TO THE NET AMOUNT THAT WE RECEIVED FROM YOU FOR THE SERVICES DURING THE TWELVE (12) MONTHS PRIOR TO SUCH POINT IN TIME. EXCEPT TO THE EXTENT THAT APPLICABLE LAWS DO NOT PERMIT THIS DISCLAIMER, WE AND OUR AFFILIATED ENTITIES ARE NOT LIABLE FOR ANY OF THE FOLLOWING: (A) INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES; AND (B) DAMAGES RELATING TO FAILURES OF TELECOMMUNICATIONS, THE INTERNET, ELECTRONIC COMMUNICATIONS, DATA CORRUPTION, SECURITY, LOSS OR THEFT OF DATA, VIRUSES, SPYWARE, LOSS OF BUSINESS, LOSS OF REVENUE, OR LOSS OF PROFITS OR INVESTMENT.
THE ABOVE LIMITATIONS AND DISCLAIMERS IN SECTIONS 10(a), 10(b), 10(c), and 10(d) APPLY EVEN IF WE AND OUR AFFILIATED ENTITIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH CLAIMS, LIABILITIES, BREACHES OR DAMAGES. THIS AGREEMENT SETS FORTH OUR ENTIRE LIABILITY, AND THE ENTIRE LIABILITY OF OUR AFFILIATED ENTITIES, AND YOUR EXCLUSIVE REMEDY WITH RESPECT TO THE SERVICES AND THIS AGREEMENT.
CurrencyFair and CFSB reserve the right to suspend or terminate this Agreement in the event of breach of Nacha Operating Rules or U.S. law. CurrencyFair and CFSB also reserve the right to audit your compliance with this Agreement and Nacha Operating Rules at any time.
You agree to cooperate fully with CurrencyFair, CFSB, and Nacha in connection with any audit, inquiry, or investigation concerning your use of the Services and your compliance with this Agreement and the Nacha Operating Rules, including by providing copies of authorizations and other documentation upon request.
You further acknowledge that CurrencyFair, as a Third-Party Sender, is required to perform certain due diligence on your ACH activity as the Originator for its ODFI, CFSB. You agree to provide all information requested by CurrencyFair or CFSB related to your business, financial condition, and ACH origination practices to facilitate compliance with Nacha Operating Rules.
We may, in our sole discretion and without notice, restrict, deny, terminate this Agreement or suspend the Services and/or your Account, effective immediately, in whole or in part, for suspicion of fraud, security, illegal activity or unauthorized access issues to protect the integrity of our Services or systems, to comply with our policies or applicable laws and regulations, if you fail to comply with this Agreement, if you no longer agree to receive electronic communications, if you notify us of your decision to terminate this Agreement, or if you request us to close your Account or delete Your Data.
Upon termination of this Agreement, or upon suspension or termination of your Account, you must immediately stop using the Services, and any outstanding payments will become due immediately. Any termination of this Agreement will not affect our rights to any payments due to us. We may also terminate a free or trial Account at any time. Sections 1(a), 2, 3(b), 4, 5, 6 (to the extent that you owe us any payments upon expiration or termination of this Agreement), 7(b), 8, 9, 10, 11(b), 12, 13, and 14 will survive and remain in effect even if the Agreement is terminated or otherwise ends for any reason.
Dispute Resolution – ACH Transactions (Consumer Accounts)
If your account is a consumer account, the error resolution provisions of the federal Electronic Fund Transfer Act (“Regulation E”) apply. You must notify CurrencyFair of any unauthorized or erroneous transaction within sixty (60) days after the statement date on which the error first appears. CurrencyFair will investigate your claim promptly, will provisionally credit your account within ten (10) business days (twenty (20) business days for new accounts) if additional time is required, and will resolve your claim within forty-five (45) days (ninety (90) days in limited circumstances). CurrencyFair and CFSB will follow the Nacha Operating Rules and Regulation E procedures in determining the validity of claims and processing reversals.
Dispute Resolution – ACH Transactions (Business Accounts)
If your account is a business account, the federal Electronic Fund Transfer Act does not apply. Instead, disputes regarding unauthorized or erroneous entries will be governed by Article 4A of the Uniform Commercial Code as adopted in New York, together with the Nacha Operating Rules.
Arbitration Agreement; Class Action Waiver; Governing Law
ANY DISPUTE OR CLAIM RELATING IN ANY WAY TO THE SERVICES OR THIS AGREEMENT WILL BE RESOLVED BY BINDING ARBITRATION, RATHER THAN IN COURT. The Federal Arbitration Act governs the interpretation and enforcement of this provision, and the arbitrator shall apply New York law to all other matters. Notwithstanding anything to the contrary, any party to the arbitration may at any time seek injunctions or other forms of equitable relief from any court of competent jurisdiction. WE AND YOU AGREE THAT ANY AND ALL DISPUTES MUST BE BROUGHT IN THE RESPECTIVE PARTY’S INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. BY ENTERING INTO THIS AGREEMENT AND AGREEING TO ARBITRATION, YOU AGREE THAT YOU AND US ARE EACH WAIVING THE RIGHT TO FILE A LAWSUIT AND THE RIGHT TO A TRIAL BY JURY. IN ADDITION, YOU AGREE TO WAIVE THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR LITIGATE ON A CLASS-WIDE BASIS. YOU AGREE THAT YOU HAVE EXPRESSLY AND KNOWINGLY WAIVED THESE RIGHTS.
NEW YORK STATE LAW GOVERNS THIS AGREEMENT WITHOUT REGARD TO ITS CONFLICTS OF LAWS PROVISIONS.
To begin an arbitration proceeding under this Agreement, send a letter requesting arbitration and describing your claim to us at the main address posted on our main website. Arbitration will be conducted by the American Arbitration Association (AAA) before a single AAA arbitrator under the AAA's rules, which are available at www.adr.org. The arbitration will take place in New York, NY. / You may choose to have the arbitration conducted by telephone, based on written submissions, or in person in the county where you live or at another mutually agreed location. Payment of all filing, administration and arbitrator fees and costs will be governed by the AAA's rules, but if you are unable to pay any of them, we will pay them for you (but not your legal fees (if any), which you must pay as part of your arbitration proceedings). The decision of the arbitrator shall be final and not appealable, and judgment on the arbitration award may be entered in any court having jurisdiction thereof.
This Section 12 will survive any expiration, termination or rescission of this Agreement.
You acknowledge and agree that we would not provide to you the Services on the terms and in the form offered to you under this Agreement if you had not agreed to the applicable law, arbitration and waiver of class action rights above in this Section 12.
We respect the intellectual property of others and will respond to notices of alleged copyright infringement that comply with the law. We reserve the right to delete or disable Your Data, in whole or in part, if it is alleged to violate copyright laws or this Agreement, and we reserve the right to terminate your access to any and all Services in such cases.
If you believe there has been a violation of your intellectual property rights, please complete our copyright complaint form, which can also be found here: https://www.currencyfair.com/us/trust/complaints-procedure/, or contact our designated copyright agent by mail/email at the following address: copyright@currencyfair.com.
This Agreement and the Separate Agreements are the entire agreement between you and us with respect to your access to the Services, and replace all prior understandings, communications and agreements, oral or written, regarding its subject matter. The foregoing does not apply, however, to the extent that we have separately entered into any Separate Agreement with you that expressly supersedes this Agreement, in which case the Separate Agreement will prevail over this Agreement with respect to the Services or other products and services to which such Separate Agreement applies.
If any court of law, having jurisdiction, rules that any part of this Agreement is invalid, that section will be removed without affecting the remainder of the Agreement. The remaining terms will be valid and enforceable.
The United Nations Convention on Contracts for the International Sale of Goods does not apply to this Agreement.
You cannot assign or transfer ownership of this Agreement to anyone without our written approval, except to the extent that you are an entity and all or substantially all of your stock, assets or business are acquired by another entity, in which case you may assign this Agreement to that entity provided that you give us notice within thirty (30) days after that acquisition. We may assign or transfer this Agreement at any time, in whole or in part, without notice to you, to any party.
Currencyfair may, from time to time, run a refer a friend program or other such promotional activities. When such is run by Currencyfair, the terms and conditions thereof can be found here.
This CurrencyFair Consumer Money Transfer Agreement (“Money Transfer Agreement”) is a legal agreement between you or an entity that you are representing (“you” / “your”) and CurrencyFair Limited, a private company limited by shares incorporated in Ireland, registered with the Companies Registration Office under number 469391, with its registered office at One, Central Plaza, Dame Street, Dublin 2, D02 K7K5, Ireland, and authorised and regulated by the Central Bank of Ireland as a Payment Institution (authorisation number C57373) (“CurrencyFair” / “we” / “our” or “us”). This Money Transfer Agreement governs your use of the technology, services and functionality that we make available to you to allow you to send money overseas at great exchange rates with no hidden fees (the “Money Transfer Services”). The Money Transfer Services are available at https://www.currencyfair.com/.
This Money Transfer Agreement is subject to the Terms and Conditions agreement available here (the “Agreement”) and is incorporated into and made a part of the Agreement. In the event of any conflict between this Money Transfer Agreement and the Agreement, this Money Transfer Agreement will prevail to the extent expressly provided in this Money Transfer Agreement; otherwise, the Agreement will prevail. The Money Transfer Services are included in, and are a part of the Services, as defined in the Agreement.
If you choose to use the Money Transfer Services, you agree to this Money Transfer Agreement and to the Agreement. This Money Transfer Agreement and the Agreement govern your use of the Money Transfer Services. Your use of the Money Transfer Services automatically indicates and constitutes your acceptance of this Money Transfer Agreement and of the Agreement. Your use of the Money Transfer Services also automatically indicates and constitutes your acceptance of our Privacy Policy available here.
SECTION 12 OF THE AGREEMENT INCLUDES A BINDING ARBITRATION CLAUSE, A WAIVER OF YOUR RIGHT TO FILE A LAWSUIT AND OF YOUR RIGHT TO A TRIAL BY JURY, AND A WAIVER OF YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION OR LITIGATE ON A CLASS-WIDE BASIS. THESE ARE IMPORTANT RIGHTS THAT YOU CHOOSE TO WAIVE WHEN YOU ENTER INTO THIS MONEY TRANSFER AGREEMENT AND IN THE AGREEMENT. YOU MUST REVIEW SECTION 12 OF THE AGREEMENT AND AGREE TO IT BEFORE YOU USE ANY MONEY TRANSFER SERVICES.
SECTION 10 OF THE AGREEMENT INCLUDES BINDING LIMITATIONS OF LIABILITY AND VARIOUS DISCLAIMERS THAT LIMIT OUR LIABILITY AND YOUR RIGHTS IN CONNECTION WITH THIS MONEY TRANSFER AGREEMENT AND THE MONEY TRANSFER SERVICES. YOU MUST REVIEW SECTION 10 OF THE AGREEMENT AND AGREE TO IT BEFORE YOU USE ANY MONEY TRANSFER SERVICES.
You and us agree as follows:
Certain capitalized terms that are used in this Money Transfer Agreement are defined in this Section 1 or elsewhere in this Money Transfer Agreement. All other capitalized terms used in this Money Transfer Agreement that are not expressly defined in this Money Transfer Agreement will have the corresponding meaning ascribed in the Agreement.
“API” means any application programming interface provided by us.
“App” or “CurrencyFair App” means any mobile app made available by us.
“Bank” or “CFSB” means Community Federal Savings Bank.
“Bank Account” means any bank account that you hold at a financial institution licensed to operate in the corresponding jurisdiction.
“Business Day” means any day when financial institutions are open for business in the United States, but excluding Saturday, Sunday, and public holidays in the United States.
“CurrencyFair Account” means an account offered by us to you as part of the Money Transfer Services with certain features, including the ability to hold prepaid money for you and to manage your access to the Money Transfer Services. You may open and manage your CurrencyFair Account through the Website or through the App. Your CurrencyFair Account will also be considered to be an “Account” under the Agreement.
“Currency Conversion” means a conversion of funds from one currency to another currency.
“Source Currency” means the currency which you use to fund a Currency Conversion.
“Target Currency” means the currency into which a Source Currency is converted as part of a Currency Conversion.
“Transaction” means a Transfer and/or a Currency Conversion.
“Transfer” means using your CurrencyFair Account to transfer currency to another party or between two Bank Accounts that you hold.
“Unauthorized Transaction” means any transaction through which money is sent from your CurrencyFair Account that you did not authorize and that did not benefit you.
“Vendor” means any vendor or other third party affiliated with us that works for us or with us to provide the Money Transfer Services to you.
Opening a CurrencyFair Account
To use some or all of the Money Transfer Services, you must first open a CurrencyFair Account by providing certain information. For legal reasons, all information you provide during the signup process or any time thereafter must be complete, accurate and truthful. You are responsible for keeping your mailing address, email address, telephone number, and other contact information up-to-date in your CurrencyFair Account profile. We may refuse to provide or may discontinue providing the Money Transfer Services to any person or entity at any time for any reason.
We treat all activities conducted under your CurrencyFair Account to be your activities. You must only use the Money Transfer Services to transact for yourself, and not on behalf of any other person or entity. You may only open one CurrencyFair Account unless we explicitly approve the opening of additional accounts. We may refuse the creation of duplicate accounts for the same user. Where duplicate accounts are detected, we may close or merge these duplicate accounts without notification to you.
Eligibility and Registration
In order to use the Money Transfer Services, you must first apply to us to obtain a CurrencyFair Account. As part of your registration and use of the Service, you represent and warrant that:
You (i) have the full authority to bind the entity to this Money Transfer Agreement, (ii) have read and understood this Money Transfer Agreement; and (iii) agree to this Money Transfer Agreement (and including the Agreement, as defined above).
You are located in the United States, hold a bank account in United States Dollars (USD) that will be the source of funds for transfers using the Money Transfer Services, such bank account is held in your name, and you exercise sole legal authority and control over such account;
You are not an agent acting for an undisclosed principal or third-party beneficiary. You must own and have full rights to your CurrencyFair Account.
You are not violating any laws or regulations by registering with us, entering into or performing any part of this Money Transfer Agreement, or by otherwise using the Money Transfer Services;
You consent to having your details, including confidential personal information and financial information, collected by us or by our Vendors, and provided and used by us and/or our Vendors to provide the Money Transfer Services to you.
You are fully aware that the Money Transfer Services are operated by us or Vendors at the Bank’s direction and subject to the Bank’s rules and procedures, and that for purposes of the Money Transfer Services, we and our Vendors are operating as a service provider to Bank.
All information provided by you as part of your registration and use of the Money Transfer Services is accurate and complete, and you undertake to promptly notify us of any changes to such information; and
You will ensure that your contact details provided at registration remain accurate and up to date. We will use those contact details to contact you wherever required under this Money Transfer Agreement or in connection with the Money Transfer Services. You may update your contact details at any time by logging into your CurrencyFair Account.
Verification
To help the government fight the funding of terrorism and money laundering activities, Federal law requires us and the Bank to obtain, verify and record information that identifies each person to whom we provide certain types of services.
To register for the Money Transfer Services and obtain a CurrencyFair Account, we will require you to provide your name, physical address, unexpired U.S. government issued photo identification, U.S. passport, U.S.-based driver’s license, other U.S. government issued photo identification, U.S. Taxpayer Identification number, date of birth, phone number, and email address, and/or other information that will allow us to identify you (the "KYC Information"). We, the Vendors, and/or the Bank may also contact you with additional questions and periodically ask you to reconfirm these details.
We reserve the right to deny, close, suspend, or limit access to your CurrencyFair Account and/or the Money Transfer Services if we are unable to obtain or verify this information.
Account Security
You are responsible (not us) for maintaining adequate security and control of any and all usernames, user IDs, passwords, or any other details that you use to access your CurrencyFair Account and the Money Transfer Services. You must never disclose your CurrencyFair Account password or your customer reference number. Keep them safe. Change your password regularly. We will never ask you to provide your password to us or to a third party. You must tell us if anyone asks for your password, and contact our customer support team (“Customer Support”) if you are not sure about this, or any other security-related aspect of your CurrencyFair Account. You must never let anyone access your CurrencyFair Account or watch you accessing your CurrencyFair Account.
If you suspect your CurrencyFair Account, login details, password or any other security features are stolen, lost, used without authorization or otherwise compromised, you must immediately change your password. Contact our Customer Support immediately at support@currencyfair.comif you believe your credentials have been compromised or you are suspicious about the security of your password or any other security features. The compromise of your credentials could enable thieves to access your bank account and attempt transactions not authorized by you. In addition, contact us at once if your transaction history for your CurrencyFair Account shows transactions that you did not initiate. We rely on you to regularly check the transaction history of your CurrencyFair Account and to contact Customer Support immediately in case you have any questions or concerns.
We may (but are not obligated to) suspend your CurrencyFair Account or otherwise restrict its functionality if we have concerns about the security of your CurrencyFair Account or any of its security features, or potential unauthorized or fraudulent use of your CurrencyFair Account or any of its security features.
You must make sure that your e-mail account(s) are secure and only accessible by you, as your e-mail address may be used to reset passwords or to communicate with you about the security of your CurrencyFair Account. You must notify our Customer Support immediately if your email address becomes compromised. Never use any functionality that allows login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded. Additional CurrencyFair Services that you use may have additional security requirements, as notified to you by us, and you must familiarize yourself with those requirements.
Customer Support
For urgent customer support issues, please contact our Customer Support team at support@currencyfair.com. Examples of such urgent issues include if you believe that your CurrencyFair Account was compromised, or if you made a mistake in initiating a Transaction and you would like us to try to cancel the Transfer.
For non-urgent customer support issues, and for any complaints or concerns that you may have with respect to the Money Transfer Services and/or your CurrencyFair Account, please contact our Customer Support team following the instructions at
https://www.currencyfair.com/trust/complaints-procedure
Funding Your Account
You may deposit money in supported currencies into your CurrencyFair Account in order to (i) Transfer money, (ii) conduct a Currency Conversion, or (iii) add money to your CurrencyFair Account for use in a future Transaction. Currencies supported are listed on our Website.
We only accept payment for your transfer via ACH Pull Direct Debit, or, if you choose to initiate the transfer of funds from your Bank Account, an ACH Push or domestic Wire Transfer.
Except as expressly specified in this Section 3, no other payment methods are accepted, including cash, mailed check, or electronic check.
For legal, security, or other reasons established by us from time to time, there may be financial limits for particular payment methods or currencies that you are allowed to use to fund your CurrencyFair Account, or for how much you can upload into your CurrencyFair Account.
When you deposit money into your CurrencyFair Account using a method that we support, the money will appear in your CurrencyFair Account. You must check the incoming funds in your CurrencyFair Account against your own records regularly, and you must let us know immediately if there are any irregularities.
When you deposit funds into your CurrencyFair Account, you can accept them as-is and maintain a balance in your CurrencyFair Account in that currency, or accept the funds and then convert them to another currency through a Currency Conversion.
We will credit your CurrencyFair Account once we have received your money, and we are not responsible for the money you have deposited until we have received it. For some particular methods that you are permitted to use to fund your CurrencyFair Account, we will credit the money to your CurrencyFair Account as soon as possible, subject to our right of reversal. This means if the actual amount you intended to deposit does not reach us within a reasonable time, we may deduct such amount from your CurrencyFair Account.
We reserve the right to add payment methods that you are allowed to use to fund your CurrencyFair Account without prior notice to you. We also reserve the right to remove or change payment methods that you are allowed to use to fund your CurrencyFair Account, in which case we will notify you in accordance with the Agreement at least thirty (30) days prior to such removal or change.
Payment by ACH Pull Direct Debit
If you choose to fund your CurrencyFair Account using our ACH Pull direct debit feature in preparation for initiating a Transfer from your CurrencyFair Account, you will need to provide details regarding a bank account that you hold at a financial institution licensed to operate in the United States (“Bank Account”) and that holds the respective funds. The details needed to fund your CurrencyFair Account using our ACH Pull direct debit feature include your Bank Account number and routing number. For clarification, this Money Transfer Agreement requires you to hold at least one bank account in the United States, but you may choose to hold any number of additional bank accounts, whether inside or outside the United States, and this Money Transfer Agreement permits you to conduct Transactions with each such bank account, provided that you own and control each such bank account. Each bank account that you hold in the United States or outside the United States, and that you use in connection with Transactions, will also be considered to be a “Bank Account” under this Money Transfer Agreement.
When you choose to fund your CurrencyFair Account using our ACH Pull direct debit feature and provide your Bank Account details, you represent that your Bank Account payment details are correct, that you are authorized to access and transmit funds from your Bank Account, that your Bank Account is in good standing with the account-holding financial institution, and that you have the authority to initiate an electronic funds transfer in the amount at issue to or from your Bank Account.
When you choose to pay for your transfer using our ACH Pull direct debit feature and by providing your Bank Account details and requesting a Transfer, you authorize us to initiate electronic credits and debits to your Bank Account through the automated clearinghouse (ACH) network in order to process the requested Transaction, including any applicable fees and charges.
Your authorization shall remain in effect for any Transfer that you have authorized while a registered user with the Service unless cancelled in accordance with this Agreement.
Payment by Wire or ACH Push
If you choose to fund your CurrencyFair Account using our ACH Push or domestic wire feature in anticipation of initiating a Transfer, then your Transfer order will remain inactive until we receive your funds (the “Deposit Payment”) into your CurrencyFair Account.
Deposit Payments must be made into your CurrencyFair Account via ACH Push or domestic wire transfer. If, for any reason, your Transfer is cancelled or refused, then we will promptly return the respective funds to your CurrencyFair Account. In the event that we are unable to return the deposit, then we will promptly contact you using the most current contact information provided to us by you through the Money Transfer Services.
We are not a bank, and your CurrencyFair Account is not a bank account. The specified bank account details that we provide to you in order for you to receive funds from third parties are for accounts held by us, our Vendors, or the Bank. The CurrencyFair Account is not a bank account held by you. Value held as a balance in your CurrencyFair Account represents an unsecured claim against us and is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other deposit protection scheme. For clarification, your CurrencyFair Account is not a bank account held by you at the Bank.
Your CurrencyFair Account balance may be held in certain currencies supported by us from time to time. You may hold a balance in more than one of these currencies at the same time. You are responsible for all risks associated with maintaining a CurrencyFair Account balance in multiple currencies. You are not allowed to manage multiple currencies for speculative trading purposes.
You may Transfer currency you have uploaded from your CurrencyFair Account by:
Sending currency to your own Bank Account;
Sending currency to a third party’s bank account.
The specific methods that you can use to conduct Transfers will depend on a number of factors, including where you live and your verification status with us. We cannot guarantee the use of any particular Transfer method and may change or stop offering a Transfer method at any time without notice to you, but we will ensure that you will have at least one Transfer method available to you unless prohibited by applicable law.
When you Transfer money, we will charge you a fee. We will let you know the exact amount of the fee charged by us when you submit your request. We are not responsible for any fees charged by your bank in connection with your Bank Account, any fees charged by the bank of a third party receiving a Transfer from you, or any fees charged by any other third parties that are not working with us to provide the Money Transfer Services to you.
When transferring money from your CurrencyFair Account, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful.
Each Transfer request is given a unique transfer number, which is shown in the transaction history in your CurrencyFair Account. You should quote this Transfer number when communicating with us about a particular Transfer.
You acknowledge and agree that your CurrencyFair Account is subject to Transfer limits. If your Transfer request exceeds the current limit, we may decline your request and require you to provide additional documents to us so that we could carry out additional checks or impose additional obligations before allowing the money to be transferred out.
We may limit the amount of your Transfer order consistent with our obligations under applicable law and at our discretion. If your Transfer order is received by us after 5:00 PM EST on a Business Day or not on a Business Day, your Transfer order will be deemed received on the following Business Day.
Any specific limits applicable to Transfers from your CurrencyFair Account are specified on our Website. Please review those limits and ensure that your Transfer orders are consistent with those limits.
We reserve the right to impose additional requirements or verification steps for Transactions involving higher currency amounts.
We do not have any control over the time it may take for your bank to process any funds that you send to your Bank Account via a Transfer, and to make available such funds to you for use in your Bank Account. Similarly, we do not have any control over the time it may take for the bank of any other party that receives funds from you through a Transfer to process and make available such funds to the third party.
The completion time of your Transfer (i.e., the date on which funds will be available to the bank of the recipient) is notified to you on your confirmation when you complete the setup of your Transfer order.
Our Services include the ability to convert currencies, for example:
as part of a Transfer;
in your CurrencyFair Account, you may transfer funds in one currency and later use that balance to send money to a third party in another currency;
in your CurrencyFair Account, you may convert a currency balance into a different currency balance.
A conversion fee will apply when we perform a currency conversion. There may be limits as to which currencies you can place these orders in.
We will only process your currency conversion order if we hold or have received the relevant funds and the fees. It is your responsibility to send us the money to fund a currency conversion order (whether in your CurrencyFair Account or as part of a Transfer) in a timely manner. We cannot be responsible for the time it takes for the money to be sent to us by your bank or payment service provider.
We reserve the right in our sole discretion to refuse any currency conversion order. Reasons for refusal may include, but are not limited to, an inability to match your CurrencyFair Account information with your Bank Account details, incorrect information about the recipient, or insufficient available funds. We generally will attempt to notify you of any refusal, using the contact information provided as part of your registration, stating (where possible) the reasons for such refusal and explaining how to correct any errors. However, we will not notify you if such notification would be unlawful or otherwise not permitted by a governmental authority.
Once we have received your currency conversion order, we will send you a confirmation by email that we have received it. Each currency conversion order is given a unique transaction number, which is shown in the transaction history on your CurrencyFair Account. You should quote this transaction number when communicating with us about a particular currency conversion order.
If you have scheduled a transfer in advance, then we will notify you twenty-four (24) hours before your upcoming transfer, setting out the total fees and the estimated ‘live’ exchange rate for that transfer. By scheduling a transfer, you agree that we have the right to send the funds using the live exchange rate at any time on the scheduled date.
When you place a currency conversion order (whether in your CurrencyFair Account or as part of a Transfer), we will let you know the exchange rate.
You have the right to cancel a Transaction order, provided that such cancellation may not be successful if the Transaction was already completed or cannot be undone (see below for more details). If the cancellation of the Transaction is successful, we will refund to you any fees that you paid to us for that Transaction.
Transaction orders must be cancelled from the Website or from the App. If you cannot cancel from the Website or from the App, you can contact our Customer Support team as described in Section 2(e) above. If you contact us to cancel, you must provide us with information to help us identify the Transaction order that you wish to cancel, including (i) your name, address and telephone number; (ii) the name of the person receiving the funds; (iii) the dollar amount of the order; and (iv) the intended destination location.
We will issue a refund within five (5) business days of your request, provided that we were able to cancel your Transfer and the funds have not been picked up by the designated recipient prior to our receipt of your request for a refund. For the avoidance of doubt, you may not cancel an order under any circumstances if the funds have been disbursed or deposited to the recipient. If a Currency Conversion was performed as part of, or in connection with a Transfer, and if we are successful in cancelling the Transfer in response to your cancellation request, the Currency Conversion will not be reversed.
Please note that due to the speed with which Transfers are conducted (including electronic payment transactions once a Transfer is initiated), we cannot guarantee that any particular Transfer can be cancelled once it has been initiated, and you assume the risk when you initiate a Transfer that it may not be cancelled despite our attempts to cancel it later.
The fees for Transfers and/or Currency Conversions (“Fees”) will be disclosed to you when you place an order and prior to your confirming the transaction, or are otherwise available on our Website.
You agree to pay and will pay the relevant Fees for each Transaction using your chosen payment method. The Fees will be charged at the time when we conduct a Transaction for you or as otherwise disclosed by us to you. Our fee does not include any fees that your bank or the recipient’s bank may charge. Those fees may be deducted from the money you upload into your CurrencyFair Account. We will not process your payment order until we have received the applicable Fees from you. You are solely responsible for any taxes, which may be applicable to payments you make or receive, and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.
Administrative Fees
The Bank may charge certain administrative fees in connection with Transactions and/or the use of the Money Transfer Services. We will pass through such fees to you without a markup, and you will pay such fees to us. We will subsequently remit such fees to the Bank.
We have the right to charge you certain inactivity fees (“Inactivity Fees”) if you do not perform any Transactions through your CurrencyFair Account for a certain period of time. The Inactivity Fees and applicable time periods of inactivity will be disclosed to you on our Website. We reserve the right to remove or decrease any Inactivity Fee without prior notice to you. We also reserve the right to add or increase any Inactivity Fee, in which case we will provide you with written notice in accordance with the Agreement at least thirty (30) days in advance.
Account Statements
You have the right to receive an account statement showing your CurrencyFair Account activity. You may view your CurrencyFair Account statement by logging into your CurrencyFair Account. All of your CurrencyFair Account transactions (including your balance, uploaded money, and money you have received, converted, and sent), including related Fees and exchange rates, if applicable, are recorded in the statement section of your CurrencyFair Account.
Closing Your CurrencyFair Account
You can close your CurrencyFair Account. You may terminate this Money Transfer Agreement and close your CurrencyFair Account at any time by contacting our Customer Support team following the process described in Section 2(e) above. At the time of closure of your CurrencyFair Account, if you still have money in your CurrencyFair Account, you must transfer your money prior to closing your CurrencyFair Account. You are not allowed to close your CurrencyFair Account to avoid an investigation or to otherwise destroy evidence in an investigation initiated by a governmental entity or by us. If you attempt to close your CurrencyFair Account during an investigation, we have the right to hold your funds until the investigation is fully completed. You agree that you will continue to be responsible for all obligations under this Money Transfer Agreement and the Agreement related to your CurrencyFair Account while it is suspended and even after it is closed.
CurrencyFair Can Close Your CurrencyFair Account
CurrencyFair, in its sole discretion, reserves the right to suspend or terminate this Money Transfer Agreement and/or your CurrencyFair Account for any or no reason and at any time, upon notice to you. We reserve the right to not provide to you prior notice if we suspend or terminate your Money Transfer Agreement and/or your CurrencyFair Account for cause (e.g., because you breached or we reasonably believe that you are breaching this Money Transfer Agreement or the Agreement), or in response to an actual or suspected threat or for other urgent reason (e.g., to address an actual or suspected security breach of the Money Transfer Services or of your CurrencyFair Account, if a regulatory agency requires us to do so, etc.). Otherwise, we will give you at least thirty (30) days’ prior notice in accordance with the Agreement if we intend to suspend or terminate your Money Transfer Agreement and/or your CurrencyFair Account.
Reasons for which we have the right to close your CurrencyFair Account without prior notice include the following:
your breach of any provision of this Money Transfer Agreement or documents referred to in this Money Transfer Agreement;
we are requested or directed to do so by any competent court of law, government authority or agency, or law enforcement agency;
we have reason to believe you are in violation or breach of any applicable law or regulation, or we have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing, or other criminal or illegal activity.
We also have the right to suspend or terminate your CurrencyFair Account without prior notice if it has been compromised or for other security reasons, or has been used or is being used without your authorization or fraudulently.
If we close your CurrencyFair Account or terminate your use of the Money Transfer Services for any reason, we’ll provide you with notice of our actions and make any unrestricted prepaid money held in your CurrencyFair Account available for transfer out. You are responsible for all reversals, chargebacks, fees, fines, penalties and other liability incurred by us, any other CurrencyFair customer, or a third party, caused by or arising out of your breach of this Money Transfer Agreement, and/or your use or the use of your authorized third parties of the Money Transfer Services. You agree to reimburse us, any CurrencyFair customer, or a third party for any and all such liability.
Upon termination of this Money Transfer Agreement for any reason, all rights granted to you in connection with the CurrencyFair App will cease, and you must immediately stop using the CurrencyFair App and remove (or deactivate if removal is not technically possible) the CurrencyFair App from all of your devices.
You will not use the Money Transfer Services for any unlawful activity, and we reserve the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, we reserve the right to institute a hold on your account or your funds, to report suspected unlawful activity to any appropriate regulatory or similar authority or person and to provide such authority or person any relevant information, including personal data. For example, you will not use the Money Transfer Services in connection with:
You are solely responsible for any Unauthorized Transactions that may be conducted through your CurrencyFair Account. We reserve the right to try to undo or otherwise recover any funds that you lost through any Unauthorized Transaction, but we do not have an obligation to do so, and we will have no liability for any losses or liability that you incur as a result of any Unauthorized Transaction.
All U.S. persons, including U.S. banks, bank holding companies, and non-bank subsidiaries, must comply with OFAC’s regulations. This means that we may institute a hold on your account or your funds if you are a Specially Designated National, fall into the scope of a country-based sanction program or are within other applicable sanctions programs (including non-US sanctions programs).
Customers in California and Washington
You have the right to cancel a Transfer order for personal or business purposes and obtain a full refund of all funds paid to us, including any fees in connection with that order, up until the Transfer has been completed in accordance with your instructions.
Transfer orders must be cancelled from the website or application. If you cannot cancel from the website or application, you can cancel by contacting our Customer Support team following the process in Section 2(e) above. If you contact us to cancel, you must provide us with information to help us identify the Transfer order that you wish to cancel, including (i) your name, address and telephone number; (ii) the name of the person receiving the funds; (iii) the dollar amount of the order; and (iv) the intended destination location.
We will issue a refund for the cancelled Transfer within five (5) business days of your request, provided that the funds have not been picked up by the designated recipient prior to our receipt of your request for a refund. For the avoidance of doubt, you may not cancel an order under any circumstances if the funds have been disbursed or deposited to the recipient.
Please note that due to the speed with which Transfers are conducted (including electronic payment transactions once a Transfer is initiated), we cannot guarantee that any particular Transfer can be cancelled once it is initiated, and you assume the risk when you initiate a Transfer that it may not be cancelled despite our attempts to cancel it later.
The Money Transfer Services, your CurrencyFair Account, and all activities that you and us conduct under this Money Transfer Agreement are subject to Section 10 of the Agreement, including the limitations of liability and disclaimers that limit our liability and your rights set forth in Section 10 of the Agreement. You must review Section 10 of the Agreement before you choose to use any Money Transfer Services under this Money Transfer Agreement.
CurrencyFair administers its services on behalf of our banking partner CFSB. Please see our banking partner’s privacy policy at Privacy - Community Federal Savings Bank.
No cellphone number will be shared with third parties/affiliates for marketing/promotional purposes. This excludes text messaging originator opt-in data and consent.
Message frequency varies per user. Message and data rates may apply. Carriers are not liable for delayed or undelivered messages.
CurrencyFair is committed to providing our customers with the highest standard of service through our product and our Customer Experience team. However, we understand that occasionally there may be times when our product or service does not meet your needs. If this is the case, you should contact our Customer Experience team at support@currencyfair.com so that we can understand and rectify your concerns or issues when possible. Our Customer Experience team members will be pleased to help. From experience, many customer issues can be easily resolved at this early stage.
If your concerns cannot be resolved at the first point of contact, the matter will be referred to CurrencyFair’s Customer Experience Team Lead/ Manager. They will then do their utmost to help support and resolve any issue or grievance you have.
At this stage, if the issue has not been resolved to your satisfaction, you will be asked to set out your issue in writing, providing as much detail as you can so that we can fully investigate your complaint. Although you have the right to make a formal complaint verbally, in order for us to gain a clear understanding of your issues, once you have expressed a wish to make a complaint, we will ask you to submit your complaint by email, clearly detailing your CurrencyFair ID and outlining fully the nature of your complaint.
All of our team receive full training on recognising, managing and escalating a complaint. Our complaints procedure and your rights as a consumer are outlined below. The procedure has been designed in line with the recommendations and requirements of our regulators and the Financial Services and Pensions Ombudsman (Ireland) / Financial Ombudsman Service (Australia).
When you make a formal complaint to us, we will:
Contact Us
Please contact our Customer Experience team in the first instance at support@currencyfair.com. If your concerns cannot be resolved at this first point of contact, the matter will be referred to CurrencyFair’s Customer Experience Team Lead/Manager. You may then be asked to set out your complaint in writing, providing as much detail as you can so that the complaint can be fully investigated.
Complaint Investigation
The Customer Experience Manager will then contact you at intervals of not greater than fifteen (15) business days, starting from the date on which the complaint was made. We will also attempt to resolve your complaint within thirty-five (35) business days of having received the complaint.
External Review
If the complaint has not been resolved to your satisfaction, you may refer the matter to the relevant authority. Full details will be included in our final response letter to you.
Contacting CurrencyFair
If you have any questions or concerns about this Complaints process or if you wish to make a complaint, you may contact the Customer Experience Team on +353 (0) 1 526 8411, +61 (0) 282 798 642, or email support@currencyfair.com
Please read and understand the following disclosure statement:
It is your responsibility to ensure that you keep your login details (login, password, Access Code, PIN and Secure Two Factor Authentication Codes) safe and secure at all times. In addition, you must take all reasonable steps to ensure that, as a User, you keep them safe and secure. The Administrator has appointed you in this critical Role, and you are required to comply with the Terms & Conditions of this CurrencyFair account and also comply with the authorities delegated to you by the Business which employs you.