European Union (EU) Customer T/C

European Union (EU) Customer T/C Terms and Conditions

SUMMARY

1. OURAGREEMENTWITHYOU
1.1 Parties Involved
1.2 Additional Documents
1.3 Accessing Agreement and Policies
1.4 Acceptance of Terms
1.5 Important Considerations
2. OURSERVICES
2.1 Money Transfers
2.2 Recommended Use
2.3 Third-party Agreements
3. GETTING STARTED AND USING OURSERVICES
3.1 Profile Creation
3.2 Profile Creation Process
3.3 Individual Use Only
3.4 Maintenance of Information
3.5 Eligibility Requirements
3.6 Restricted Persons and Countries
3.7 Profile Limit
4. SENDING MONEY
4.1 Funding Instruments
4.2 Bank Funded Payments
4.3 Consequences of Incorrect Payments
4.4 Processing Your Transactions
4.5 Transaction Execution Time
4.6 Information Needed for Processing Transactions
4.7 Card Payment Authorization
4.8 Transaction Information
4.9 Accuracy of Transaction Details
4.10 Rights and Protection
5. PAYING FOR OURSERVICES ANDCURRENCY EXCHANGE
5.1 Our Service Fee
5.2 Payment Methods
5.3 Additional Fees
5.4 Currency Conversion and Exchanges Rates
5.5 Third-party Fees
5.6 Taxes
6. RECEIVING MONEY
6.1 Service Providers
6.2 Verification
7. IMPORTANT SERVICE RESTRICTIONS
7.1 General Right Limit Use
7.2 Transactions to High Risk Countries
7.3 Restricted Activities
7.4 Actions We May Take
8. HOWANDWHYWECOLLECTPERSONALINFORMATION
8.1 Out Privacy and Cookies Policy
8.2 Sharing Your Data Outside the EEA
8.3 Customer Identification Program
8.4 Government Disclosures
8.5 Verifying your personal information
9. ERROR RESOLUTION, CANCELLATION AND REFUND
9.1 Error Resolution
9.2 Refund before transaction completion
9.3 Payment of Refunds
9.4 Tracing your payments
10. AGREEMENT DURATION
10.1 Time
10.2 Unilateral Rescission
10.3 Cooling-Off Period
10.4 Canceling in the Cooling-Off Period
10.5 Conditions of Canceling during the Cooling-Off Period
10.6 Data treatment after contract termination
11. BELMONEY’S INTELLECTUAL PROPERTY
11.1 Concept of Intellectual Property
11.2 Ownership of Intellectual Property
11.3 Our Intellectual Property rights
11.4 Licence grant
11.5 Suggestions and Feedback
12. IMPORTANT DISCLAIMERS
12.1 General Disclaimer of Our Services
12.2 Digital Content Supplied for Free
12.3 Suspension of Our Services
12.4 Commercial Transactions
12.5 Third-Parties Relationship
12.6 Data Security Measures
12.7 Equipment Keeping and implementing safeguards
13. YOUR RESPONSIBILITY FOR LOSSES CAUSED BY YOU
13.1 Introduction
13.2 Your promises
13.3 Special Terms
13.4 Settlements Agreements
14. OUR RESPONSIBILITY IN THE FACE OF THE DAMAGESUFFERED BYYOU
14.1 General Responsibility
14.2 Defective Digital Content
14.3 Exception to Liability Limits
14.4 Exclusion of Certain Losses
14.5 Compliance, Act of God and Force Majeure
14.6 Definition of Act of God and Force Majeure
15. DISPUTE RESOLUTION AND GOVERNING LAW
15.1 Dispute Resolution
15.2 Alternative Dispute Resolution
15.3 Governing Law
16. ABOUT USANDOURCOMMUNICATION
16.1 Contact Information
16.2 Record Keeping
16.3 Third-Party Contact
16.4 Access to Information
17. CUSTOMER EXPERIENCE
17.1 Importance of Security
17.2 User Obligations for safe usage
17.3 Biometric Access
17.4 Compromised Service Notification
18. CHANGES TOOURSERVICEANDTHISAGREEMENT
18.1 Changes to the Service
18.2 Changes to this Agreement
18.3 Reasons for Changes
18.4 Notification of Changes
18.5 Unilateral Changes by Belmoney
19. OTHER IMPORTANT TERMS
19.1 Enforcement Flexibility
19.2 Severability Clause
19.3 Transfer of Agreement
19.4 User’s Transfer of Rights
19.5 Rights Enforcement
19.6 Compensation Scheme Clarification
19.7 Definition Clarifications
19.8 Use of Headings
19.9 General Law Applications

BELMONEYTERMSANDCONDITIONS

1. OURAGREEMENTWITHYOU

1.1 Parties Involved

This Agreement establishes a contractual relationship between you, customer of Belmoney services, and Belmoney S.A (“Belmoney,” “we,” “us,” and “our”). It outlines the terms governing your access and use of our services.

1.2 Additional Documents

Equally important to you is to familiarize yourself with our Privacy Policy and Cookie Policy (“Policies”), which regards crucial information about your personal data usage.

1.3 Accessing Agreement and Policies

In our website it is possible to find current versions of this Agreement, Privacy and Cookie Policy. It is advisable to download and store these documents for reference as they are legally binding.

1.4 Acceptance of Terms

Of comparable significance is to appoint that you consent to the terms of this Agreement by acknowledging the electronic version during registration or transaction initiation. Commencing the use of our Services, implying acceptance of this Agreement.

1.5 Important Considerations

Given the legally binding nature of this Agreement, carefully review its terms before
acceptance and periodically thereafter. Ensure it aligns with your expectations and
discontinue the use if any terms are disagreeable. Some topics that deserve special attention
are the service payment, which describes the services, associated charges, and payment
instructions, especially cautioning against sending money to strangers.
Furthermore, the topic regarding the initial use instructions is equally important as it
clarifies the user eligibility and prohibits service use on behalf of others. The mentioned
topic is complementary to the “Sending Money” one that provides insights into the money
transfer process.
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The “Important Service Restrictions” is also key to comprehend the nature of the service
hereby described and agreed by you, as it enumerates the restricted activities and potential
consequences for misuse.
Likewise essential to single out the topic concerning important disclaimers and the possible
damage you may suffer which defines the Belmoney liability in a variety of scenarios.
Complementary to that, the topic regarding the responsibility for the losses caused by you
outlines the user liability for self-induced losses.
At last but not least, the topic on the matter of the changes to our service and agreement
details the procedures and possible modifications to our Agreement, being important to
outline that for further clarification or information, refer to our website or contact us online.
IMPORTANT: By continuing to use our Services, you signify your understanding and
acceptance of the terms outlined in this Agreement.

2. OURSERVICES

2.1 Money Transfers

Our Services enable residents around the world to make money transfers to designated countries and regions, as communicated through our website and/or mobile app. The process involves a “Sender” utilizing our services to send money, and a “Beneficiary” receiving disbursed funds. The transaction denotes a sender’s payment order instructing us to disburse funds to a previously informed beneficiary account. The “transaction amount” is the sum paid by the Sender, and the “payout amount” is the sum received by the Beneficiary.

2.2 Recommended Use

We strongly advise using our services for transactions involving friends and family. Alternatively, sending money to strangers is completely discouraged by Belmoney.

2.3 Third-Party Agreements

Regarding the use of our services, it can be stated that agreements with Third-Party Service Providers may be necessary, such as those with mobile device manufacturers or network operators. Users are obliged to comply with these agreements related to the use of our Services.

3. GETTING STARTED AND USINGOURSERVICES

3.1 Profile Creation

Creating a Belmoney profile is mandatory to access and utilize our services. The Profile records necessary information as detailed in our Privacy Policy. Notably, the profile is not a bank or payment account and does not store any form of value. This is the Belmoney form of keeping track of its customers’ data, allowing it to utilize it as a parameter for eventual analysis and comparisons in further operations, helping to prevent frauds.

3.2 Profile Creation Process

To create a Profile, users must provide accurate information as requested, including details for determining eligibility. Complete registration tasks as required, which may involve creating Security Credentials or downloading our mobile app. Undertake any additional actions reasonably required by us or third-party service providers for Service access.

3.3 Individual Use Only

Profiles must be created and transactions initiated only by the individual account holder. Using the identity of or conducting transactions on behalf of others is strictly prohibited.

3.4 Maintenance of Information

It is crucial to keep provided information accurate and promptly notify any changes, especially in residence address. Address changes may result in updated terms for th

3.5 Eligibility Requirements

To use our Services, users must:
1- Agree to this Agreement during the Profile creation process.
2- Be at least eighteen (18) years old to access Services as a Sender.
3- Be based and resident in one of the European Union countries, or Liechtenstein, Norway
and Iceland.
4- Comply with the information collection and verification processes detailed in Section 8.

3.6 Restricted Persons and Territories

Users are prohibited from using our Services in regions where legal restrictions or sanctions apply. Compliance with government regulations, financial sanctions, and other applicable laws is mandatory. Additional eligibility requirements may exist for certain Services, necessitating verification before use.

3.7 Profile Limi

Each user may register and open only one Profile. Therefore, Belmoney reserves the right to impose limits on associated email addresses and payment instruments linked to a profile.

4. SENDING MONEY

4.1 Funding Instruments

To initiate money transfers through our services, users must utilize permitted funding
instruments, which include card funded payments, when using a debit or credit card as
specified in our services; and bank funded payments, when utilizing bank transfers, such as
the EU/EFTA “SEPA” scheme.
In reference to Card Funded Payments, if you choose to pay for our services using a debit or
credit card, you have agreed to pay the transaction amount and any applicable fees using
the nominated card; only provide details of valid and lawfully owned debit or credit cards;
and authorize us to verify your card’s standing with the issuing payment service provider

4.2 Bank Funded Payments

Whenusing Bank Funded Payments, adhere to the following:
1- Pay from a bank account matching your Profile name, following the notified funding
scheme.
2- Make payments within the specified timeframe and execute via your electronic banking
channel.
3- Provide correct payment details, including account information and transaction amount.

3.3 Individual Use Only

Profiles must be created and transactions initiated only by the individual account holder. Using the identity of or conducting transactions on behalf of others is strictly prohibited.

4.3 Consequences of Incorrect Payments

Failure to comply with payment requirements may result in:
1- Transaction cancellation or delay.
2- Refund of Bank Funded Payments, subject to risk and other checks.
3- Suspension or termination of Services with or without prior warning.
4- Legal or regulatory processes impacting payment refunds.

4.4 Processing Your Transactions

When you submit a transaction, it is up to Belmoney to process and approve it. We may accept or reject your offer based on this Agreement. Services are exclusively available to consumers, not for business purposes. Violating this may result in service termination.

4.5 Transaction Execution Time

Considering ceteris paribus, that is to say, that nothing in the transaction needs to be
rechecked or asked for again, these are the following stipulated execution time for the
transactions, according to the region of the remittance:
1) Brazil Account Deposit- Immediately
2) Brazil PIX- Immediately
3) International Account Deposit- Same day if made during the day. The operations made
after 16:00 PM (CET) will be paid on the following day.
4) e-Wallet Deposits- 3 hours
5) Cash pick ups- Available immediately for withdrawal in the corresponding agency
6) Homedelivery- 24h

4.6 Information Needed for Processing Transactions

Regarding the information needed for processing transactions, it is possible to state there several conditions that must be observed. The first of the aforementioned conditions is to provide accurate information about yourself and the transaction; the second correlates to having sufficient cleared funds; providing valid consent to complete the transaction is also necessary; the last but not least item corresponds to the permitted delays regarding the identity verification, spending limit review, proof of funds and AML/CF analysis.

4.7 Card Payment Authorization

When paying with a debit or credit card, you authorize Belmoney to charge the card. Nevertheless, the withdrawal of authorization is possible when removing the card from your Profile. Failed payments may be retried using the same card.

4.8 Transaction Information

Access details of executed payment transactions and transaction history through your Profile. Recipient details recorded enable easy future transactions to trusted Recipients. Downloadable reports are available, updated when there is activity or fees incurred.

4.9 Accuracy of Transaction Details

Ensure all Transaction details are accurate as changes might not be possible after submission. Refunds or cancellations may be possible under specific circumstances.

4.10 Rights and Protections

You may have rights and protections under your agreement with your Funding Instrument provider or issuer. Refer to your agreement for details on these protections.

5. PAYING FOR OURSERVICES ANDCURRENCYEXCHANGE

5.1 Our Service Fee

In exchange for utilizing our Services, you agree to pay a Service Fee with each transaction, in addition to the Transaction Amount. Clear details of the Service Fee related to a Transaction will be provided before your consent, allowing you time to consider the charge. Payment of the Service Fee and Transaction Amount is due when the Transaction is submitted for processing. The Service Fee may be deducted from the Transaction Amount madeavailable to your nominated Recipient.

5.2 Payment Methods

You can pay for our Services:
a. In accordance with provided instructions.
b. Using a nominated bank transfer or a specified debit or credit card.
No obligation exists to accept payment through other methods. Attempts to pay using
unauthorized methods may result in the non-provision of Services.

5.3 Additional Fees

If a Transaction results in charges to us due to your Funding Instrument’s potential misuse or insufficient funds, you agree to reimburse us for these charges immediately upon notification. This includes fees such as “NSF fees” or “chargeback fees.” You are responsible for these fees and amounts.

5.4 Currency Conversion and Exchange Rates

Our Services allow money transfers in specific currencies. Exchange rates will be calculated and presented during the Transaction process. By instructing us to process a Transaction, you agree to the applied exchange rate and acknowledge that we may earn revenue from it.

5.5 Third-Party Fees

You are responsible for fees imposed by third parties such as your bank, card issuer, phone provider, or internet service provider. Credit card issuers may treat transactions as “cash advances,” incurring additional fees. Any fees, charges, or costs from third parties related to your use of our Services are your responsibility.

5.6 Taxes

You are responsible for the reporting and payment of applicable taxes arising from your use of our Services. Comply with all relevant tax laws, including reporting and paying taxes associated with your Transactions.