Effective date: 1st of June 2023, Version 1.0
Hello there! Welcome to our Payment Service and Platform, accessible through our website, remitiva.com.
This Agreement sets out the rules and guidelines for using our Payment Service and Platform, and along with our Privacy Policy and General Terms of Use, it forms a legal contract between us.
To put it simply:
- - When we say "You," we're talking about you, our valued user.
- - When we say "Us," we refer to our company, as detailed below.
We're all about transparency and keeping things clear and easy to understand, so we've tried to make this Agreement as user-friendly as possible. If you have any questions, don't hesitate to email [email protected].
1. About Us
'We', 'us', and 'our' refers to FM FINANCE LTD, a company with the registered number 11415496, residing at Suites 15-16 Pure Offices Hatherley Lane, Cheltenham Office Park, Cheltenham, England, GL51 6SH.
We take pride in our status as an Authorised Payment Institution sanctioned by the Financial Conduct Authority. To learn more about our authorisation, please check us out on the FCA Register. Our unique Firm Reference Number (FRN) is 815137.
2. Understanding Our Payment Service
Our Payment Service is simple. We enable the fast transmission of funds directly from one payment card to another, known as "Transfer," and exchange one currency for another along the way, if necessary.
3. Getting Started
To begin your journey with us, please sign up for our Platform by entering your email and accepting our Terms of Use and Privacy Policy. You will receive a link to your email to complete the signup process. Alternatively, you can choose to sign up using your Google or Apple account.
Once you’re ready to perform your first Transfer, we kindly request that you provide us with some personal information including your:
- - First name and last name (so we know how to address you);
- - Date of birth (just to confirm you're old enough to join us);
- - Contact details and address, including your email address and mobile number (so we can keep in touch).
If your country is not listed in the available options, we regret to inform you that we are unable to provide our Payment Services to your country at this time. To enhance the security of your Platform Account, you have the option to set up a password. However, please note that setting a password is not mandatory.
If you are a returning user to our Platform, you can sign in using the following options:
- - Sign in with your Google account;
- - Sign in with your Apple account;
- - Enter your email address and password.
If you haven't yet set up a password for your Platform account, we will send you a Magic Link you can use to access your Platform Account.
Following these simple steps, you can start sending Transfers up to the monthly limit specified on our Platform. If you wish to raise this limit, you will be required to provide us with your personal documents for verification purposes.
4. Initiating Transfers
Making Transfers is easy. To get started, all you need is your Platform Account and a valid payment card that you use to fund your Transfer - we call this your "Funding Source."
Once you're all set, you can send your money to its destination by giving us a Payment Order. It's pretty straightforward - just tell us:
- - Recipient's name, address and card number;
- - How much and in what currency you want to send;
- - Which country is your recipient in;
- - What the Transfer is for;
- - Where your funds are coming from.
Just one little thing to note - do check that your Funding Source has enough money for the Transfer. If not, the Transfer cannot be completed.
Once you enter your Funding Source details, you will receive a Transfer authorisation code on your registered phone number. Enter this code on our Platform to verify and authorise the funding of your Transfer.
How long does it take? Typically, the recipient should have access to the transferred funds within minutes. However, in some instances, the Transfer may take up to two Business Days (days that aren't Saturday, Sunday, or a public holiday in England when London's banking institutions are closed).
5. Cancellation of Payment Orders
Your Cancellation: We're all about keeping processes smooth and fast. That's why, once you've hit 'Send' on a Payment Order and the funds have been allocated, we can't hit the brakes or reverse it. So, it's good to double-check everything before you confirm your transaction. That way, your money always goes exactly where you want it to.
Our Cancellation: We want to make sure everything's above board when it comes to your Transfer. So, there may be times when we need to step in and hold off on a Payment Order. This might happen if we're required to do so by a third party, by law, if going ahead with the transaction might put us in breach of our legal obligations, or if something doesn't quite add up and we suspect that the Payment Order may not have come from you.
If we end up not going through with a funded Payment Order for reasons that don't involve a breach of our legal obligations, we'll be sure to refund you. Please note we'll first take off any of our fees and, if applicable, any costs that might come up when returning the funds.
6. Handling Currency Conversion
When your Transfer involves different currencies, we simplify the process by providing a currency conversion Payment Service. This service ensures smooth and efficient conversion between different currencies. Given the volatile nature of foreign exchange markets, our exchange rates can fluctuate frequently and without prior notice. As such, we don't alert you to every rate change.
However, we're committed to transparency and will always display the specific exchange rate applicable to your Transfer on the Platform before you finalise your Transfer. This rate is influenced by various factors, including the mid-market rate, markup, and rates charged by our third-party partners. You agree to the currency exchange rate we've shown you by placing a Payment Order. Remember, this exchange rate directly affects the final amount received by the beneficiary.
7. Transfer Limits
There are specific caps on how much money you can send. These limits apply to the total amount of Transfers and each individual Transfer you make. If you hit your Transfer limit, it means that you can't make any more Transfers. You can easily check these out within the Platform.
If you want to send more, we'll need some extra information from you. And if you haven't hit your maximum allowed limit yet, you can raise it directly through the Platform.
8. Understanding the Costs
For each Transfer, the fees are influenced by several factors, including the payment method, destination country, and the currency of the Transfer. The fee will be displayed clearly on the Platform once you enter the Transfer's amount, currency and country of your recipient. By proceeding with the Transfer, you are accepting this fee.
Do bear in mind there might be circumstances where additional charges could be incurred. These situations usually arise from improper use of our Payment Service. For example, if our partner levies insufficient funds' fees or if we bear losses due to a chargeback request on a card payment initially intended to fund your Transfer. In addition, the recipient's bank may charge an incoming transfer fee based on their banking agreement with the recipient. We highly recommend considering these possibilities to ensure a smooth and pleasant experience with our Payment Service.
9. Tracking Your Transfers
As for checking your Transfer history and status, it's super easy. Just log into the Platform to view all your past and recent Transfers. And if you ever have any questions or need help, feel free to contact our customer support team by emailing [email protected] – they're always ready to assist you!
10. Some Rules for You to Follow
We've established rules to ensure a secure and optimal experience using our Platform and Payment Service. We may suspend your access to the Payment Service if we suspect you breach them. Let's make sure we're all on the same page:
One Account, One You: You're allowed to own and operate only one Platform Account. Duplication of accounts is strictly prohibited. Remember, this Agreement is personal to you. You cannot allow anybody to use your Platform Account; you can use the Payment Service only for yourself.
Second Chances: Had a Platform Account closed by us before? Unfortunately, that means you can't register a new one. We believe in second chances, but not when it comes to breaking our rules.
Fair Usage: Certain activities are not allowed on our Platform, including but not limited to sending money to buy something illegal or using the Payment Service to facilitate any unlawful activity. Please ensure that all Transfers you make are legal and that you're not involved in any fraudulent activities or misuse of our Platform.
Respect is Key: We're all friends here. When chatting with our support team, always be respectful and polite.
Keep Us in the Loop: Changed your contact details? Moved to a new house? Make sure you update your details on the Platform. It's essential to keep everything current and accurate.
Information Requests: Sometimes, we might need more info about you or your Transfer. When we ask, please respond promptly, and provide us with accurate and relevant information. Please bear in mind that depending on the timing of your response, the exchange rate applicable to your Transfer may change.
Cooperation During Investigations: In case of any disputes or investigations, we'll need your full cooperation. It ensures a quick and fair resolution.
11. Staying in Touch
To keep you in the loop, we'll deliver updates and details about your Transfers or Platform Account directly to you. Expect to hear from us via email that you use to access your Platform Account.
If there's anything that leaves you puzzled, or if you think something doesn't look right, our customer support team is ready and waiting to assist. You can contact us through email [email protected]. We are happy to help you.
12. Keeping Your Platform Account Secure
Your Platform Account's security is our top priority, but it's a team effort! We do our part and count on you to maintain safety practices on your end. Here are some recommendations to help you to ensure that there won't be any Unauthorised Transfers and keep your Platform Account safe and sound:
Create a strong password: Make it hard. Do not use easy-to-guess passwords and personal information. Never share it with anyone, even those close to you, and try not to use the same password for multiple accounts.
Utilise Two-Factor Authentication (2FA): We strongly recommend enabling Two-Factor Authentication (2FA) for the email account associated with your Platform Account. This additional security measure adds an extra layer of protection by requiring a unique code from your phone or email, in addition to your password, each time you sign in.
Guard against phishing scams: Be wary of suspicious calls, emails, or texts asking for personal information or login details. Never click on a link from an unknown sender or input personal information into an untrusted website.
Protect your devices: Keep your devices like laptops or mobile phones secure. Use password protection, ensure they're updated, and have the latest anti-virus software. It's crucial to ensure nobody can use your devices to access your Platform Account without your consent.
Monitor your Platform Account activity and contact us if anything seems wrong: Regularly review your Platform Account activity to spot any Transfers you don't recognise. If you notice anything unusual, or if you have any security concerns or questions, don't hesitate to get in touch with our customer support team. Its email is [email protected].
Please, note that if we have any suspicions regarding the security of your Platform Account, we may need to suspend your access to the Platform Account. This measure is purely a preventive one to safeguard your interests. We'll promptly alert you about this action as soon as we can, in compliance with the law.
It's also essential to keep your contact information current. We will use it to communicate with you, especially in crucial matters. It's all about keeping your Platform Account secure and your mind at ease.
Remember, maintaining a secure Platform Account is a shared responsibility. Let's keep your Platform Account safe together.
13. Responsibility and Liability If Something Goes Wrong
Our responsibility. You must notify us promptly if you notice an unauthorised or Incorrect Transfer.
We assume responsibility for such transactions under the following circumstances:
- - "Unauthorised Transfer" refers to a situation where we can verify that you didn't permit (authorise) a specific Transfer to take place.
- - "Incorrect Transfer" describes a situation where, due to an error on our end, the Transfer didn't go through as intended. Please note that this doesn't apply to situations where you've simply changed your mind after a completed Transfer. This term specifically covers cases where we've made a mistake in executing the Transfer or failed to execute it.
Reach out to us no later than 13 months after the Transfer via email or phone. In these cases, we'll reimburse the Transfer amount along with any associated charges. Note that it's crucial to inform us of any suspicious activity involving your account, irrespective of whether you've notified other companies.
We'll return the Transfer amount and any associated fees in these instances. In any case, our liability is restricted to the amount involved in the disputed Transfer and any related fees or charges.
Limitations to our liability. Our liability has certain limitations. Unless otherwise mandated by law, we won't be liable if:
- - You made an error while placing a Payment Order;
- - You failed to report an unauthorised or Incorrect Transfer within the specified 13-month period;
- - The Unauthorised Transfer was due to suspicious or fraudulent behaviour on your part;
- - You have negligently or intentionally failed to secure your Platform Account;
- - An Unauthorised Transfer occurred due to another payment service provider's failure to protect your Funding Source (e.g., it's the failure of your bank that provided you with a payment card);
- - A Transfer can be traced to the recipient or its payment service provider;
- - Any losses occurred due to unforeseeable circumstances beyond our control and despite our best efforts to prevent them;
- - Any losses arose as a result of our compliance with legal obligations;
- - For any indirect, special, or consequential damages arising from using our Platform, our Payment Service, or any reliance on the information we provide.
Your Responsibility. You may be held accountable for losses up to a maximum of £35, even if we're responsible for an Unauthorised Transfer unless:
- - misappropriation of your Platform Account was not detectable by you before the Transfer, except where you acted fraudulently; or
- - your loss is the result of our act or omission.
Additionally, following your prompt notification of the issue, you shall never be liable for any losses when:
- - the Unauthorised Transfer was initiated post your reporting to us of a security compromise;
- - we have failed to provide appropriate means for notification of a security compromise;
- - where strong customer authentication is required, but we did not require it.
14. Complaint Procedures and Dispute Resolution
If our Payment Service does not meet your expectations, we encourage you to inform us so we can address the matter. If you're not satisfied with the response from our customer support, you can take it a step further by submitting a formal complaint.
Formal Complaint Process. If you'd like to file an official complaint about the Payment Service, then please send us an email at [email protected] with the following data:
- Your name;
- The email address you use to sign in to your Platform Account;
- Your telephone number;
- A clear description of your complaint;
- The email address you prefer to receive messages;
- Supporting documents (optional)
After You've Filed a Complaint: Our Response. We'll acknowledge your complaint within 2 Business Days and aim to provide a final response within 15 Business Days. If, for any reason, it may take longer (up to 35 Business Days in exceptional circumstances), we'll let you know.
If You're Still Not Satisfied: Out-of-court Dispute Resolution. If you're dissatisfied with our resolution, you can escalate your complaint to an out-of-court dispute resolution authority called the Financial Ombudsman Service (FOS). This a free service for complainants. The FOS settles individual disputes between consumers and businesses that provide financial services.
Here's how to reach it:
For more information, visit its website at https://www.financial-ombudsman.org.uk/.
Taking It to Court: Litigation. While we certainly hope it doesn't come to this, we understand that sometimes you might feel that a formal complaint or even the dispute resolution service of the Financial Ombudsman Service doesn't fully address your concern. If so, you still have the right to take things further.
Please know that you can bring a lawsuit to the courts of England and Wales, which are the official courts handling any and all disputes related to this Agreement. You have this right whether or not you've already used the FOS dispute resolution service.
It's important to remember that the laws of England and Wales govern this Agreement. So, if you do decide to go down the legal route, your case will be handled according to these laws.
15. Updating this Agreement
We sometimes need to tweak this Agreement for various reasons. Maybe we need to make things more straightforward, adapt to business or legal shifts, keep up with tech improvements, or add some cool new features.
If these changes touch on existing payment services, we'll give you a heads-up two months in advance. If the proposed modifications don't align with your preferences, you retain the right to terminate this Agreement and close your Platform Account without incurring any charges. The changes will automatically apply two months after the notice unless you decide to close your Platform Account.
Conversely, improvements that enhance your rights or introduce new features won't require prior notice. These amendments will become effective immediately upon updating this Agreement on our website and updating the "Effective Date" you can see at the top of this Agreement. In addition to this, we'll send you an email outlining these changes.
16. Closing your Platform Account
Closing on your initiative: You have the freedom to close your Platform Account whenever you wish, thereby ending your Agreement with us. If you decide to take this step, you can contact our customer support.
When you decide to close your Platform Account, remember that you'll lose access to our Payment Service. Still, any Transfers you've already kicked off will be completed just as we promised in our Agreement.
Closing on our initiative: On our part, we might need to terminate the Agreement under certain circumstances, for example, if you break any of the Rules listed in Clause 10.
It's important to note that we take compliance with regulations seriously, particularly concerning preventing money laundering, combating the financing of terrorism, and adhering to sanctions policies. If any suspected violation of our Agreement related to these areas arises, we will act immediately to terminate our Payment Services.
However, we understand the importance of maintaining transparency and ensuring a smooth transition for our users. Therefore, in such situations, we will provide you with a two-month notice period before closing your Platform Account. During this period, while services are suspended, you can still access your transaction data and our support services. This will aid in minimising disruption and offering you time to make necessary arrangements.
17. Miscellaneous
Your Agreement with Us. When you use our Platform or the Payment Service, it means that you've read, understood, and agreed to follow the rules set out in this Agreement. It's our mutual understanding, and we appreciate your commitment. You can always view the most recent version of this Agreement on our Platform. Or, if you prefer, you can contact our customer support team and request a copy.
Intellectual Property. While you have the right to use the Payment Service and Platform, the intellectual property associated with them (like content, logos, and designs) belongs to us or the relevant third party. So, you can use the Payment Service, but you can't use our or third party's ideas, words or designs without written permission.
Language. This Agreement is in English. If there is any translation of this Agreement and any discrepancy between the translated version and the English one, the English version will hold the ground.
Validity and Effect. Even if one part of this Agreement is found to be invalid or unenforceable, the rest of the Agreement still holds. So, if one section doesn't apply, it won't impact the rest of the Agreement.
Transfer of Rights. If a merger, acquisition, or reorganisation involves us, we might need to transfer our rights under this Agreement to another party. But don't worry; your interests are always our priority. We'll keep you informed, and you always have the option to end the Agreement if you're uncomfortable with the changes.
Our enforcement right. If you breach this Agreement and we don't enforce our rights or delay in enforcing them, we may enforce those or any other rights in the future.
Interpreting the Agreement. Headings and subheadings in this Agreement are there to make it easier to read and understand. Also, when you see words like "including" or "for example", it means we're giving some examples, but it's not an exhaustive list. We've used these terms for your convenience, and they won't affect the interpretation of the Agreement.
Got Questions? If you have any questions or need clarity about this Agreement, please contact us at [email protected]. If you want to have a call with us, please indicate it in your email.
Yes, we mentioned our customer support email five times to help you to remember it.
