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TERMS AND CONDITIONS

These Terms and Conditions are intended for Customers of Interpay Limited. If You are resident in the United States You are a customer of Transfermate Inc. and should click here for the applicable Terms and Conditions.

1. Definitions:

"Account" means the online Transfermate account which must be opened with Us before availing of the Transaction Service, whether accessed via the Website or using Our API.

"Anti-Money Laundering Policy" means the policy set out at Schedule 2 which sets out Our compliance with the regulations, legislation and codes which govern anti-money laundering and terrorist financing.

"Beneficiary" means the intended recipient of the Payment Transaction who will either be notified to Us by You or may be an existing customer of Ours who requests Us to work with You to make a Reactive Payment.

"Booking Reference" means the reference number specific to Your Payment Transaction which We will give You, which will enable both You and Us to identify the Payment Transaction.

"Business Day" means any day We are open for business for the purposes of executing Payment Transactions, excludes Saturday and Sunday, and may exclude national holidays or legal holidays in countries impacted by the Payment Transaction.

"Confidential Information" means all information in whatever form or method of disclosure, that is disclosed by one party to the other party, whether or not marked as confidential, to the extent a reason­able person would consider such information as confidential, and includes these Terms and Conditions.

"Contract" means the agreement formed between You and Us regarding a Payment Transaction which is subject to these Terms and Conditions

"Cut-off Time" means the time (currently 1PM GMT but subject to change) by which a Lodgement must be received by Us, in order for Us to be able to treat the Lodgement as received on that day.

"Effective Date" means 17 May 2019.

"Final Transfer" means the transfer of funds by Transfermate into the account of the Beneficiary.

"Funding Account" means the account in which You nominate to fund the Lodgement to the Transfermate Nominated Account.

"Future Dated Payment" is a payment whereby Your Order requires, and We agree, that the Payment Transaction should not be made at the earliest possible date, but at some future date as advised by You to Us.

"Intellectual Property Rights" or "IPR" means all intellectual property rights, including patents, supplementary protection certificates, petty patents, utility models, trademarks, database rights, rights in designs, copyrights (including rights in computer software) and topography rights (whether or not any of these rights are registered, and including applications and the right to apply for registration of any such rights) and all rights and forms of protection of a similar nature or having equivalent or similar effect to any of these which may subsist anywhere in the world, in each case for their full term, and together with any renewals or extensions.

"Lodgement" means the transfer of funds from Your Funding Account to the Transfermate Nominated Account following the formation of the Contract in respect of the Payment Transaction.

"Order" means the request from You to Us to undertake a Payment Transaction.

"Payment Transaction" refers to the agreement for Us to effect a funds transfer on Your behalf whether at a live exchange rate, a pre-agreed exchange rate or without a foreign exchange element.

"Reactive Payment" means a Payment Transaction which You have been requested to make by a customer of Transfermate using the Receivables Service, on whose behalf We have contacted You.

"Receivables Service" means the facility offered by Us as set out at Schedule 4, whereby We enable third parties to make a Reactive Payment to You, whereby You are the Beneficiary of the Payment Transaction.

"Schedule(s)" refer to the additional documents which supplement these Terms and Conditions, and where stated form part of the Agreement between You and Transfermate, all of which are accessible on the Website.

"Transaction Service" means the services provided by Us over the telephone or email, via Your Account or otherwise accessed on the Website, which enable You to make Payment Transactions and avail of Receivables Service (where applicable).

"Transfermate", "We", "Us" or "Our" mean Interpay Limited trading as TransferMate, TransferMate Global Payments, Transfermate Education and such other names under which We may from time to time do business as, whether such name is registered or unregistered. Our Registered Office is IDA Business & Technology Park, Ring Road, Kilkenny, Republic of Ireland, R95 ETN5. We are registered in the Republic of Ireland and Our Company Registration number is E0368136. We are regulated by the Central Bank of Ireland as a licenced Payment Institution (No. C42802) and further details of Our regulatory status can be found on the Website.

"Transfermate Nominated Account" means Our bank account to which Your Lodgement is required to be made.

"Users" means You or the individual(s) (or company) which You have notified to Us and who are permitted by You to place the Order.

"Website" means www.transfermate.com.

"You", "Your" means the legal or natural person in whose name these Terms and Conditions are entered with Us, and includes where the context so permits, Your Users and authorised agents.

2. Introduction & Basic Description of Service 3. Modification: 4. Description of the Transaction Service and Account Opening Process 5. Placing an Order 6. Concluding a Payment Transaction 7. Funding the Transfermate Nominated Account 8. Reactive Payments 9. Charges, Interest and Exchange rates 10. Communications, Users Access and Security 11. Service Level 12. Representation and Warranties 13. Intellectual Property and Limited License 14. Liability and Indemnity 15. Confidentiality 16. Term, Termination and Cancellation of Access 17. Market Information 18. Redress and Complaints Procedure 19. General Terms

Schedule 1: Standard Fees Schedule

Words not defined here shall have the meaning set out in the Transfermate Standard Terms and Conditions (here)

You authorise Us to deduct Our fees for the Transaction Service in accordance with the receipt issued after the Transaction Service is completed and before the Final Transfer is made. The current fees for the Transaction Service are set out below.

While amounts are stated below in Euro only, the limits and bands apply mutatis mutandis to US Dollar or GB Sterling, i.e., if We state "amounts over €5,000", if You are dealing in US Dollars, this should be read as "amounts over $5,000". For all other currencies We shall calculate the applicable fee in Euro and convert to Your local currency.

Corporate FX transfers Non-Corporate Transfers

We charge transfer fees based on the method of payment You choose, as follows:

Lodgement Location
Final Transfer currency
Fee
UK
All
£10
Eurozone (not France)
Sterling
€10
France
All
€15
Australia / New Zealand
All
$20
US / Canada
All
$20
Rest of World Fees to be agreed when transfer requested

All transfers booked on the Website are a standard USD/GBP/EUR 15.00;

We use electronic fund transfers as a default payment method, however, where You make a Lodgement to Us via a method of payment other than electronic funds transfer and We incur a charge from the bank, We reserve the right to pass this fee on to You.

Cancellation Fee:
In the event that You wish to cancel a Contract, We reserve the right to charge You a cancellation fee of €20 in addition to reimbursing Us for the loss arising on such cancellation.

Other Rates and Charges:

Schedule 2: Anti-Money Laundering Policy

Words not defined here shall have the meaning set out in the Transfermate Standard Terms and Conditions (here)

Money laundering is the process by which criminally obtained money or other assets are exchanged for "clean" money with no obvious link to its criminal origin. By preventing money laundering, the movement of funds derived from criminal activities will be inhibited. This will in turn, restrict the availability of funds used for terrorist activities. Transfermate views Money Laundering as a serious criminal offence, and as such, complies with regulatory requirements intended to forestall and prevent money laundering. These include:

Please note that Transfermate reserves the right to refuse a transaction at any time should suspicion arise that it may be connected to money laundering or any other criminal activity. In addition, Transfermate will be obliged to report this suspicious activity and in line with regulations, is prohibited from disclosing this to the client.

By providing Us with false identification or contact details, We will deem this a misuse of the Transaction Service. We are legally bound to report such misdemeanours to the relevant authorities, and as such You may be the subject of a criminal investigation.

Transfermate will NOT do business with anyone suspected of, or directly involved in Money Laundering, or where funds have been sourced by any illegal activity.

To assist the world wide fight against the funding of terrorism and money laundering activities, world wide laws require Transfermate to obtain, verify and record information that identifies each person who opens an account with Us. This can be done in many ways, some of which may require You to provide documentation. Below are examples of documentation that may be required. Your customer service representative will guide You through this process.

Examples of Information required - natural persons
When You open an Account, You will be asked for information such as Your name, date of birth, address, identification numbers and source of funds. To verify this information, Transfermate uses the latest available technology, but You maybe asked for identification documents such as, certified copies of documents showing nationality, residence, Your address and a photograph of You. Typical verification documents are Your passport/drivers licence plus a utility bill/bank statement.

Examples of Information required - Companies
When You open an Account, a corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number. To verify this information, Transfermate uses the latest available technology but You may be asked for certified articles of incorporation, government-issued business license, a partnership agreement or a trust agreement.

Certification
If You are required to provide certified copy documents, they must be of good quality, signed and dated with the words "True copy of the original" (or similar) and can be certified by the following people: accountant, lawyer, police officer or Your bank manager. If You cannot get one of these people Your customer relationship representative will work with You to find an appropriate substitute. The person certifying the ID document should be contactable so please write their contact details on the copy of the document. This information needs to be scanned back to Us and the originals posted to the firm. Transfermate may conduct additional security checks on clients at Our discretion.

Your Customer Service Representative will contact You to assist You with this process

What happens if I don't provide the information requested or my identity can't be verified? 
We may not be able to open an Account or carry out transactions for You. If You already have an Account, We may have to close it.
Details of Your specific requirements to open an Account with Transfermate will be communicated to You by Your customer services representative.


Schedule 3: Privacy Policy and Data Protection

Words not defined here shall have the meaning set out in the Transfermate Standard Terms and Conditions (here)

Schedule 4: Additional Terms for Receivables Service

Words not defined here shall have the meaning set out in the Transfermate Standard Terms and Conditions (here)

Introduction:
These Receivables Terms are applicable if You have opted to avail of Transfermate's Receivables Service whereby You, in addition to being able to engage with Us as a payer in a Payment Transaction, can now request Transfermate to receive payments from a third party (the "Payer" or "Reactive Payer" as defined in the Terms and Conditions) in order for that third party to discharge an invoice (meaning for this purpose an invoice, bill or other contractual debt) by way of the Transaction Service.

Definitions:
"Biller" or "You" or "Your" means a party who wishes to use the Transaction Service to facilitate Payers discharging invoice(s), and includes where the context so permits, Your Users and authorised agents.
"Invoice Reference" means the reference number specific to Your invoice, which We will give You, which will enable You, Us and the Payer to identify Your request for payment.
"Payer" means a person, business or organization that is making a payment to You, or receiving a bill or invoice from You, whom You ask Us to contact regarding the participation in the Payment Transaction.
"Receivables Transaction" means the process by which You receive funds from a Payer in accordance with instructions entered by You on the Portal.
"Portal" means the customisable website on which the Transaction Service is delivered to You.
"Receivables Account" means the account which You nominate for the receipt of payments.
"Virtual Account" means the account in which We retain payments made to You until You instruct Us otherwise.

1. Creation of the Portal
2. Uploading Invoices and Concluding a Payment Transaction
3. Mass Uploads:
4. Receiving the Funds from the Payer

Schedule 5: Security Guidelines

Words not defined here shall have the meaning set out in the Transfermate Standard Terms and Conditions (here)

KEEPING SAFE ONLINE:

Logging On and Passwords:

You have a responsibility to exercise reasonable care to prevent unauthorised access to the computer that You use to access the Account and Portal.

When logging on to the Account, You will be asked to provide Your user name and password.

Never give the username and/or password to anyone else.

You should change the password regularly.

While We will ask You for funding account details, We will not ask You for any passwords or PIN or any other information required to access Your own bank account. We will never call or email You and ask You to change the beneficiary bank details of a payment, or ask You to reveal full security details, i.e., Your password and/or PIN - never disclose Your password/PIN to anyone. Additionally, take extra caution when opening unexpected emails and do not download any attachments unless You are confident they are safe.

Phishing Awareness:

Be vigilant and watch out for fraudulent (or "phishing") e-mails that claim to be from Us that ask for personal information or security details. Avoid sending personal details or accounts or passwords in an email. If You suspect a phishing attack, You must immediately call Us or alternatively forward the suspect e-mail to Us.

Firewalls and Anti-Virus:

The online system is protected by a firewall, which forms a barrier between the outside Internet and the internal network, however it is incumbent on You to ensure You periodically review Your security arrangements, and You are required to maintain a firewall on Your computer to protect it from unauthorised access. Never log into Your Account on a device that does not have an up-to-date anti-virus software or a firewall.

If You do suspect Your passwords or User details have become known to an unauthorised third party, or have been lost or mislaid or otherwise, You must contact Us immediately. You will be liable for the losses resulting from any resultant unauthorised transactions on Your Account. We will not refund any suspicious/fraudulent payments that have been authorised by Users.

After a 20 minute period of inactivity Your current session on the Website will automatically timeout. To restart Your session, all You have to do is re-enter Your User ID and password at the login screen.

We use what is known as 256 bit SSL to ensure the highest level of security of information passing between Our customers and Ourselves. The online system requires the use of a secure browser to access account information and perform transactions.

You represent and warrant that You have implemented and plan to operate and maintain appropriate protection in relation to the security and control of computer viruses, or other similar harmful devices, and will not transmit to in any way whether directly or indirectly or expose Our Website or Transaction Service to any harmful material or device.


HELP PREVENT CONSUMER FRAUD
Are You sending money to claim a lottery prize or winnings, or on a promise of receiving a large sum of money? Are You sending money because You were "guaranteed" a credit card or loan? Are You responding to an Internet or phone solicitation that You aren't sure is honest? Are You sending money to someone You do not know?
If so, do not proceed with this transaction. Processed payments may not be reversible after a certain point in the transaction. Contact Us for any help.

CALL CENTRE SECURITY
When contacting Our call centre You will be asked a number of security questions.

If You do not comply with security obligations, You may be liable for unauthorised payments from Your bank account(s).