Money Transfers

• 2.1 Money Transfer Services: The App enables you to send and receive money transfers across borders. You understand and agree that Remit5 is not a financial institution but acts as a facilitator for money transfers. The actual transfer of funds is processed by our third-party partners.
• 2.2 Transaction FeesYou acknowledge that fees may apply to money transfers initiated through the App. These fees will be disclosed to you before confirming the transaction. By proceeding with a transaction, you agree to pay the applicable fees.
• 2.3 Exchange Rates: The App may display exchange rates for currency conversions, these rates are indicative and subject to change. The actual exchange rate applied to your transaction may vary and will be disclosed to you before confirming the transaction.
• 2.4 Transaction Limits: Remit5 may impose transaction limits, including maximum transfer amounts and frequency limits. These limits may be modified at our discretion and are subject to compliance with applicable laws and regulations.
• 2.5 Verification and Compliance: To comply with regulatory requirements, Remit5 may request additional information or documentation to verify your identity, the receiver's identity, or the purpose of your transactions. Failure to provide the requested information may result in the suspension or termination of your account.
• 2.6 Non-Refundable Transfers: Once a money transfer is initiated, it may not be refundable except as required by applicable laws or regulations. You are responsible for ensuring the accuracy of recipient information, and Remit5 will not be liable for losses resulting from incorrect or incomplete information.
• 2.7 Withhold Transfers: Remit5 has the authority to temporarily suspend or delay the processing of certain transactions or transfers if they are considered suspicious. The term "suspicious" refers to any activity or transaction that raises concerns about potential fraud, money laundering, or other illegal activities. By reserving this right, Remit5 aims to maintain the security and integrity of its money transfer services. It allows the company to closely examine transactions that exhibit red flags or triggers based on its internal risk assessment criteria. This proactive measure helps Remit5 identify and prevent potentially fraudulent activities, protecting both the company and its customers. During the period when a transfer is held, Remit5 would likely conduct further investigations, which may involve contacting the involved parties for additional information or verification. The purpose is to ensure that the transaction is legitimate and complies with relevant legal and regulatory requirements. It's important to note that the specific criteria Remit5 uses to determine the suspicious nature of a transaction may vary. This could include factors such as unusually large transfer amounts, frequent transfers to high-risk jurisdictions, inconsistent or mismatched sender/receiver information, or any other indicators that raise concerns.

Privacy and Security

• 3.1 Privacy Policy: Your privacy is important to us. Our Privacy Policy governs the collection, use, and disclosure of your personal information. By using the App, you consent to the collection and processing of your personal information as described in our Privacy Policy.
• 3.2 Security Measures: We take reasonable measures to protect the security and integrity of the App and your personal information. However, you acknowledge that no system is completely secure, and we cannot guarantee the absolute security of your data.
• 3.3 User Responsibilities: By registering as a user for our money transfer service, if you opt for or are provided with a username, password, personal identification number (PIN), or any other confidential information for security purposes, you must treat such information as private and refrain from disclosing it to any third party. You hereby acknowledge and agree to promptly notify Remit5 in the event of any unauthorized use of your username, password, PIN, or any breach of security. Furthermore, you undertake to ensure that you log out of your account after each session. It is essential to note that you are permitted to create and maintain only one registered user account. Exercise utmost caution when accessing your account from a public or shared computer to prevent any unauthorized individuals from viewing or recording your password or other personal information.

Intellectual Property

• 4.1 Ownership: By accessing and utilizing our services, we leverage your personal data to accomplish various objectives, including transaction processing, account management and maintenance, fulfillment of promotional offers or prizes (including referral program rewards), and payment processing. Getting in touch with you we contact you by responding to and/or following up on your requests, inquiries, problems, or feedback and for customer service purposes.
• 4.2 License: By agreeing to and complying with these terms, Remit5 provides you with a limited, non-exclusive, non-transferable, and revocable license to utilize the Remit5 app. This license grants you the right to use the app for your purposes, and it is not transferable to any other individual or entity. Furthermore:
  • Limited Usage: The license is limited, meaning it grants you access to and usage of the Remit5 app, but it does not provide ownership or control over the app itself. The license is specifically for your personal use, and it cannot be used for any commercial purposes. This means that you can use the app to conduct money transfers for yourself only, but you cannot use it to provide money transfer services as a business or to generate revenue.
  • Non-Exclusive: The license granted to you is non-exclusive, meaning that while you have the right to use the Remit5 app, other individuals or entities may also have access to and use the same app. Remit5 retains the right to provide the app to multiple users simultaneously.
  • Non-Transferable: The license is non-transferable, indicating that you cannot transfer your rights to use the app to any other person or entity. The license is solely for your personal use, and you cannot sell, assign, sublicense, or transfer it to others
  • Revocable: Remit5 reserves the right to revoke or terminate the license at any time if you fail to comply with the terms and conditions outlined in the agreement. This means that if you violate the Terms or engage in any prohibited activities, Remit5 can withdraw your right to use the app.

Disclaimer and Limitation of Liability

• 5.1 No Warranty: The App is provided on an "as is" and "as available" basis, without any warranties or representations, express or implied. Remit5 disclaims all warranties, including but not limited to the accuracy, reliability, or availability of the App or its content.
• 5.2 Limitation of Liability: To the maximum extent permitted by law, Remit5 shall not be liable for any direct, indirect, incidental, consequential, or special damages arising out of or in connection with the use or inability to use the App, even if advised of the possibility of such damages. We are not responsible for any loss or damage to your device, hardware, or software used in connection with the App, including any viruses that may affect them as a result of downloading and using the App.
  In connection with the App, we, along with our group companies, officers, directors, employees, shareholders, or agents, shall not be held responsible for any type of loss or damage that may occur to you or a third party. This includes but is not limited to, direct, indirect, punitive, or consequential loss or damages, as well as loss of income, profits, goodwill, data, contracts, use of money, or damages arising from or related to business interruption. These exclusions apply whether the cause is a tort (including negligence), contract, or any other legal basis.
  Our liability exclusion also covers scenarios such as your use of the App, any delays or inability to use the App, the App not functioning as expected or desired, and any defects or errors it may contain. This applies regardless of whether we have addressed those defects or errors. Furthermore, our exclusion of liability extends to your access and use of any material on the App or any material linked to or referenced on the App.
  Please note that the use of the App relies on third parties, including your network providers. We cannot be held liable for any actions or omissions of these third parties. If, for any reason, we or any of our group companies, officers, directors, employees, shareholders, or agents are liable to you for any loss or damage under or in connection with these App Terms & Conditions and/or the Service Terms and Conditions, you agree that you will not seek multiple recoveries for the same loss or damage, regardless of whether your claims are made under one or both of these App Terms & Conditions and/or the Service Terms & Conditions.
  The provisions of these App T&Cs do not exclude liability for
  
  • (a) death or personal injury resulting from negligence,
  • (b) fraudulent misrepresentation, and/or
  • (c) anything that cannot be excluded or limited by us under applicable law.
  You are obligated to indemnify us and hold us, along with our directors, employees, agents, and representatives, harmless from any claim, loss, expense, liability, or damages resulting from your breach of these App T&Cs.

Termination

• 6.1 Termination by User You may terminate your account at any time by following the instructions in the App. Termination will result in the deactivation or deletion of your account and the loss of all data associated with it.
• 6.2 Termination for BreachRemit5 reserves the right to suspend, terminate, or restrict your access to the App or your account, in whole or in part, at any time and for any reason without prior notice or liability.

Governing Law, Dispute Resolution, and Jurisdiction

• 7.1 Governing Law: These Terms shall be governed by and construed under the laws of Canada, without regard to its conflict of laws principles.
• 7.2 Dispute Resolution: Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of located in Canada. You agree to attempt to resolve any disputes informally before initiating any legal proceedings.

Changes to the Terms

• 8.1 Modifications: Remit5 reserves the right to modify or update these Terms at any time without prior notice. The most current version of the Terms will be posted within the App.
• 8.2 Continued Use: Your continued use of the App after any modifications to the Terms constitutes your acceptance of the revised Terms.

Additional Topics

• 9.1 Compliance with Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA): Remit5's adherence to the PCMLTFA involves implementing various measures to detect, prevent, and deter money laundering and terrorist financing acts. This could include maintaining robust internal controls, conducting regular risk assessments, and establishing comprehensive procedures for monitoring and reporting suspicious activities.
  Remit5 reserves the right to request additional information or documentation to verify customer identification either from you, the receiver, or both.
  AML guidelines involve implementing procedures and practices to identify and mitigate the risks associated with money laundering. This can include verifying customer identities, monitoring transactions for suspicious patterns, and reporting any suspicious activity to the appropriate authorities.
  KYC guidelines refer to the process of verifying the identity and background of customers. It involves obtaining relevant identification and other necessary documents from customers to ensure transparency and legality of their transactions.
  By adhering to AML and KYC guidelines, Remit5 ensures that it has a comprehensive understanding of its customers and their financial activities. This enables the company to assess and mitigate potential risks, ensuring compliance with applicable regulations.
• 9.2 Customer Support and Dispute Resolution: If you have a complaint regarding a money transfer, any error, or service please email us at info@remit5.com we will do our best to resolve a complaint as soon as possible.
  If you have any questions or concerns regarding these Terms, please contact us at info@remit5.com.

• These Terms were last updated on June 8th, 2023