1.1 Our company information. Zillisafe Payments Limited is a company incorporated under the laws of The United State.
1.2 Our United State Registered office. Our registered office is 1406 Avenue of the Americas
New York, NY 21020-1304.
1.3 We are authorised by the FCA. We are an Electronic Money Institution authorised by the United State Financial Conduct Authority ("FCA") under the Electronic Money Regulations 2015 for the issuing of electronic money and providing payment services. Our FCA reference number is 900507.
1.4 How to contact us. You can contact us by email, web chat or telephone. Our contact details are provided on the "Contact" page of our Website.
2. Who can use our Services
2.1 You must be 18 years or over. If you are an individual, you must be 18 years or older to use our Services and by opening a Zillisafe Account you declare that you are 18 years or older. We may ask you at any time to show proof of your age.
2.2 You must have authority to bind your business. If you are not a consumer, you confirm that you have authority to bind any business or entity on whose behalf you use our Services, and that business or entity accepts these terms.
2.3 Your use of the Zillisafe Account must not violate any applicable laws. You commit to us that your opening and/or using of a Zillisafe Account does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section.
3. Your Zillisafe Account
3.1 About your Zillisafe Account
(a) Your Zillisafe Account allows you to hold, send or receive electronic money/payments.
(b) The electronic money held on your Zillisafe Account does not expire other than when your account is closed.
(c) The electronic money held on your Zillisafe Account will not earn any interest.
(d) You may hold your electronic money in any currencies which we support from time to time.
(e) You may withdraw money from your Zillisafe Account at any time subject to certain conditions.
(f) Certain limits may be placed on your Zillisafe Account depending on your country of residence, verification checks or other legal considerations. Please contact us if you have any questions about these limits.
(g) The electronic money held on your Zillisafe Account belongs to the person or legal entity which is registered as the Zillisafe Account holder.
(h) Unless you have our consent in writing, you must not allow anyone to operate your Zillisafe Account on your behalf.
3.2 Your electronic money in the Zillisafe Account is issued in accordance with the United State Electronic Money Regulations 2015.
3.3 Your Zillisafe Account is an electronic money account and is not a bank account. You acknowledge that the United State’s Financial Services Compensation Scheme does not apply to your Zillisafe Account. However, we follow the requirements under the United State Electronic Money Regulations 2015 which are designed to ensure the safety of funds held in electronic money accounts like your Zillisafe Account. For further information on how we look after your money, please visit FAQ.
4. Getting started
4.1 Open a Zillisafe Account. To start using our Services, you must open a Zillisafe Account and provide your details as prompted.
4.2 Information must be accurate. All information you provide to us must be complete, accurate and truthful at all times. You must update this information whenever it changes. We cannot be responsible for any financial loss arising out of your failure to do so. We may ask you at any time to confirm the accuracy of your information and/or provide additional supporting documents.
4.3 Transacting on your own account. All activities under a Zillisafe Account shall be deemed as activities carried out by the registered user. You shall only use the Services to transact on your own account and not on behalf of any other person or entity.
4.4 One account per person or entity. You may only open one Zillisafe Account unless we have agreed in writing the opening of additional accounts. Zillisafe may refuse the creation of duplicate accounts for the same user. Where duplicate accounts are detected, Zillisafe may close or merge these duplicate accounts at its sole discretion.
5. Getting to know you
5.1 We are required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction for example, your recipient) in order to provide any Services to you. You agree to comply with any request from us for further information and provide such information in a format acceptable to us. In addition, you agree that we may make, directly or through any third party, any inquiries we consider necessary to validate the information you provided to us, including checking commercial databases or credit reports. You authorise us to obtain one or more of your credit reports, from time to time, to establish, update, or renew your Zillisafe Account with us or in the event of a dispute relating to this Agreement and activity under your Zillisafe Account.
6. Keep your Zillisafe Account safe
6.1 Keep your Zillisafe Account safe
(i) What to do. You must:
(a) Change your password regularly and ensure that it isn’t reused across other online accounts.
(b) Contact Customer Support if anyone asks for your Zillisafe password.
(c) Always follow recommended password management practice
(d) Set up 2-step authentication where prompted (for further instructions please refer to our FAQ).
(e) Keep your e-mail account secure. You may reset your Zillisafe Account password using your email address. Let Customer Support know immediately if your email address becomes compromised.
(ii) What NOT to do. You must NOT:
(a) Disclose your Zillisafe Account password or your customer reference number (which starts with the letter P followed by a series of numbers). Keep them safe.
(b) Let anyone access your Zillisafe Account or watch you accessing it.
(c) Use any functionality that allows your login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded.
(d) Do anything which may in any way avoid or compromise the 2-step authentication process.
6.2 Contact us if you suspect your Zillisafe Account has been compromised. If you suspect your Zillisafe Account or other security credentials are stolen, lost, used without your authorisation or otherwise compromised, you must contact Customer Support immediately, you are also advised to change your password. Any undue delays in notifying us may affect the security of your Zillisafe Account and also result in you being responsible for financial losses.
6.3 Authorising third parties. You may authorise third parties to access your Zillisafe Account to provide their services to you, including authorising them to initiate payments from your Zillisafe Account. You acknowledge that if you authorise a third party to access your Zillisafe Account, we may disclose certain information about your Zillisafe Account to this third party. We are not responsible for any such third party’s use of your Zillisafe Account or any information in your Zillisafe Account. Granting permission to a third party does not relieve you of your responsibilities under this Agreement, including notifying us if your Zillisafe Account has been compromised or if a transaction is incorrect or unauthorised.
7. Uploading money into your Zillisafe Account
7.1 How to upload money into your Zillisafe Account. To upload money, you need to log in to your Zillisafe Account and follow the steps as they appear on screen. We are not responsible for the money you have uploaded until we have received them. For clarity, in an upload transaction, we are the recipient of funds and not the payment services provider.
7.2 Payin Methods. You may be presented with one or more methods of upload for example, bank transfer, credit cards or debit cards (in this Agreement, we will call these methods “Payin Methods”). The number of Payin Methods made available to you will depend on a number of factors including where you live and your verification status with us. Payin Methods are not part of our Services, they are services provided by third parties for example, the card provider which issued you with your credit/debit card. We cannot guarantee the use of any particular Payin Method and may change or stop offering a Payin Method at any time without notice to you.
7.3 Payment instrument must be in your name. Any payment instrument (for example, the credit card or debit card) you use with your chosen Payin Method must be in your name.
7.4 Chargebacks on your payment instrument. If you selected a Payin Method which gives you chargeback rights (for example in relation to your credit card, you may ask your card provider to reverse a transaction on your card), you promise that you will only exercise this chargeback right if:
(a) we have breached this Agreement; or
(b) there was an unauthorised use of your payment instrument.
You promise that you will not exercise your chargeback right for reasons which we are not responsible, including a dispute with your recipient or if there are insufficient funds in your payment instrument. If we need to investigate or take any actions in connection with a chargeback raised by you, we may charge you for our costs in doing so and may deduct such amount from your Zillisafe Account.
7.5 Upload limits on your Zillisafe Account. For legal and security reasons, we impose limits on how much you can upload into your Zillisafe Account.
7.6 When we will credit your Zillisafe Account. We will credit your Zillisafe Account once we have received your money. For some Payin Methods such as credit or debit card, we will credit the money to your Zillisafe Account as soon as possible subject to our right of reversal. This means if the actual amount you intended to upload does not reach us within a reasonable time, we may deduct such amount from your Zillisafe Account. If you do not have enough money in your Zillisafe Account for this purpose, we can demand repayment from you using other methods.
8. Sending money
8.1 Setting up your payment order You must set up your payment order from your Zillisafe Account. Your order may either be:
(a) a "Fixed Source Order" which is a payment order where you indicate that you wish to send and convert a fixed amount of Source Currency to your recipient who will receive the converted amount in the Target Currency; or
(b) a "Fixed Target Order" which is a transfer where you indicate that you wish to send and convert a fixed amount of Target Currency to your recipient from the Source Currency you pay into Zillisafe.
You can only set up a Fixed Target Order for certain Source Currencies, you can find a list of these Source Currencies on our FAQ.
8.2 Information you need to provide to set up a payment order. To set up a payment order via your Zillisafe Account, you need to provide certain information to us including (a) the full name of your recipient, (b) your recipient’s bank account details or their Zillisafe Account details and (c) amount to be transferred.
8.3 Payment order limits. We may place limits on the amount you may send per transfer. For more information on the applicable limits, please visit our FAQ.
8.4 When is your payment order received. If your payment order is received by us after 5pm on a Business Day or not on a Business Day, your payment order will be deemed received on the following Business Day.
8.5 What happens after you have submitted your payment order. Once we have received your payment order, we will display it under the Activity section of your Zillisafe account. Each payment order is given a unique transaction number which you can find there. You should quote this number when communicating with us about a particular payment order.
8.6 You need to provide us with sufficient funds before we can process your payment order. We will only process your payment order if we hold or have received sufficient cleared funds in your Zillisafe Account. It is your responsibility to fund your payment order 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.
8.7 Verification checks may increase the time for processing your payment order. We carry out verification checks, and these checks may increase the time it takes to process your payment order. We cannot be responsible for any delays as a result of carrying out those checks.
8.8 Completion time of your payment order. The estimated completion time of your payment order is notified to you when you complete the setup of your payment order. You may also find further information about the completion time in the FAQ section of our Website, please refer to the applicable currencies in your payment order.
8.9 We will use reasonable efforts to ensure funds arrive at your recipient’s account within the notified timeframe. We will use reasonable efforts to ensure that the funds arrive in the recipient’s bank account or payment account within the timelines notified to you or otherwise specified in our FAQ section. We do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient.
8.10 Refusal of your payment order. If we are unable to complete your payment order, we will let you know and, if possible, the reasons for the refusal and an explanation of how to correct any factual errors. However, we are not required to notify you if such notification would be unlawful.
8.11 You may cancel your payment order before your funds are converted. You may cancel your payment order by following the instructions set out in our FAQ. You cannot cancel your payment order once your funds have been converted into the Target Currency you requested.
8.12 You must ensure the information you provide to us is correct. You must make sure that the information you provide when setting up a payment order is accurate. If we have processed your order in accordance with the information you have provided to us it will be considered correctly completed even if you have made a mistake.
8.13 What happens if you provide us with incorrect information. If you provide incorrect information with your payment order, we will use reasonable efforts to recover the funds for you, and may need to charge you a fee for that.
8.14 When will I be notified of my next scheduled transfer. If you have scheduled a transfer in advance then we will notify you 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 to TW sending the funds using the live exchange rate at any time on the scheduled date. If you have opted in to receiving emails, we will send you a transfer receipt after successfully sending your scheduled transfer. For more information on scheduled transfers see our Help Centre.
9. Exchange Rates
9.1 The applicable exchange rate. We will let you know the exchange rate:
(a) when you place your payment order, if it is a guaranteed rate payment order; or
(b) when we have received your payment, if it is a non-guaranteed rate payment order.
9.2 Exchange rate
(a) When we refer to an exchange rate in this Agreement, it means the exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR, USD to AUD) that is offered by Zillisafe, which is typically provided by a reference rate provider. We may change our reference rate provider from time to time without notice to you.
(b) For some currencies, we do not use the mid-market exchange rate, including where we are required to use a different reference rate for the exchange rate for your currency pair. For example, for currency conversions to Nigeria (NGN), we are required to use the rate set by the Central Bank of Nigeria. For these currencies we will notify you of the exchange rate offered by Zillisafe when you place your payment order.
9.3 Guaranteed rates. We will notify you of the guaranteed rate and the guaranteed time period (the "Guaranteed Period") when you create your Money Transfer. Guaranteed Periods are subject to the following conditions:
(a) The Guaranteed Period may be extended if your Money Transfer is created over the weekend or public holiday.
(b) We must receive sufficient funds from you during the Guaranteed Period in order to convert your money at the guaranteed rate. You will see when we have received your money by logging into your Zillisafe Account.
(c) If we receive your funds after the Guaranteed Period, we will not be able to convert your money using the guaranteed rate and your transfer will become a non-guaranteed rate transfer. Accordingly, we may convert your money at the applicable exchange rate at the time we receive your money or we will email you and ask you if you want to proceed with your transfer at the new exchange rate.
(d) If the relevant exchange rate (as provided by our reference exchange rate provider) changes by 5% or more during the Guaranteed Period, we can, at our option, suspend your transfer for a reasonable period of time or cancel your transfer and refund the money to you.
(e) For certain currencies, including where you are sending from Japanese Yen (JPY), the guaranteed rate will only be offered after your address has been verified by us.
(f) We may change these guaranteed rate conditions or suspend the guarantee rate feature at any time.
9.4 Auto Conversion. For certain currencies, you may be able to set one or more conversion orders to be automatically executed once the exchange rate you pick is offered by our Services (an “auto conversion order”). There may be limits to the number of auto conversion orders you are able to set up, as well as the amounts of money you can schedule to convert. Zillisafe does not guarantee that it will be able to execute your auto conversion order in all circumstances. The auto conversation feature is to set up a preauthorised remittance payment transaction and is not a forward, derivative or other financial product or device. If you do not fund your preauthorised transfer it will be cancelled.
9.5 We are not a currency trading platform. Please note that we are not a currency trading platform, accordingly, you should not use our Services, including auto conversion orders, for this purpose (including creating multiple auto conversion orders without the intention of completing all the transfers or seeking to profit from FX trading). If we detect that you are using our Services for this purpose, we may, at our option, set a limit on the number of auto conversion orders you may create, set a limit on the amount of money you can convert with auto conversions, restrict your ability to use this or other features, or suspend or close your Zillisafe Account and seek disgorgement of your gains.
10. Receiving money
10.1 You can receive money into your Zillisafe Account. You can receive money into your Zillisafe Account using methods which we support from time to time.
10.2 The money received is shown in your Zillisafe Account. Any money you receive into your Zillisafe Account will be recorded in the transaction history section of your Zillisafe Account. You should check the incoming funds in your Zillisafe Account against your own records regularly and let us know if there are any irregularities.
10.3 The money received may be subject to reversal. You acknowledge that the money received in your Zillisafe Account ("Received Amount") may be subject to reversal and you agree that we may deduct the Received Amount from your Zillisafe Account if it was reversed by the person who paid you the Received Amount or any relevant payment services provider.
10.4 Sending money using an email address. If you send money to a person using an email address which is not registered with us, the money will not be credited until the intended recipient has claimed the money following the steps we have set out for them. Until then, there is no relationship between us and the intended recipient and the money continues to belong to you. We will refund the money to you if the intended recipient does not claim the money or if they have failed our customer checks within a reasonable time period as determined by us.
11. Maintaining your Zillisafe Account
11.1 Transaction history is displayed on your Zillisafe Account. All your transactions (including your current Balance, money you have uploaded, received, sent and/or withdrawn) are recorded in the transaction history section of your Zillisafe Account. You may access this information after you log in to your Zillisafe Account. We have allocated a reference number to each transaction, you should quote this reference number when communicating with us about a particular transaction.
11.2 Check your Zillisafe Account regularly. You must check your Zillisafe Account regularly and carefully and contact us immediately if you don’t recognise a transaction or think we have made a payment incorrectly. You must tell us about any unauthorised or incorrectly executed transactions immediately, but no later than 13 months from the transaction; otherwise you may not be entitled to have any errors corrected.
11.3 You accept the risks of holding balances in multiple currencies. You agree and accept all the risks associated with maintaining balances in multiple currencies including any risks associated with fluctuations in the relevant exchange rates over time. You agree that you will not use our Services for speculative trading.
11.4 Negative balances. If your Zillisafe Account goes into a negative amount, including as a result of a chargeback, reversal of a transaction, deduction of fees or any other action carried by you or a third party, that negative amount represents an amount you owe to Zillisafe and you promise to repay the negative amount immediately without any notice from us. We may send you reminders or take such other reasonable actions to recover the negative amount from you, for example, we may use a debt collection service or take further legal actions. We may charge you for any costs we may incur as a result of these collection efforts.
11.5 Taxes. You are 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.
12. Withdrawing from your Zillisafe Account
12.1 You can request to withdraw your money. After you log in to your Zillisafe Account, you may request all or part of your money held in your Zillisafe Account to be withdrawn. Press "send money" and follow the steps as prompted on screen. We will charge you a fee for each withdrawal request, we will let you know the exact amount when you submit your request. You can also find out more information about the fees we charge on the Pricing page.
12.2 Payout Methods available to you. You may be presented with one or more methods of withdrawal (in this Agreement, we will call these methods "Payout Methods"). The number of Payout Methods made available to you 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 Payout Method and may change or stop offering a Payout Method at any time without notice to you, but we will ensure that you will always have at least one Payout Method available to you.
12.3 Payout Methods are not part of our Services. Payout Methods are not part of our Services, they are services provided by third parties for example the bank where you hold your bank account. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.
12.4 You must provide correct information to us. When setting up your withdrawal request, 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.
12.5 Your withdrawal request is subject to limits. You agree that your Zillisafe Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you to provide additional documents to us so that we can carry out additional checks before allowing the money to be withdrawn.
13. Our responsibility for loss or damage
13.1 We are responsible to you for foreseeable loss and damage caused by us. If we do not reasonably meet our commitments to you, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill. We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during your account sign up process.
13.2 We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation.
13.3 We are not liable for business losses. If you use our Services for any commercial or business purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
13.4 We are not liable for technological attacks. We will not be liable for any loss or damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programmes, data or other proprietary material related to your use of our Services.
13.5 We have no control over websites linked to and from our Website. We assume no responsibility for their content or any loss or damage that may arise from your use of them.
13.6 Our liability to you for unauthorised payments or our mistake. In case of an unauthorised payment or mistake due to our error, we shall at your request immediately refund the payment amount including all fees deducted by us. This shall not apply:
(a) where your Zillisafe Account, or its personalised security features, are lost, stolen or misappropriated. You will be liable for the first GBP 35 of any unauthorised payments if we believe you should have been aware of the loss, theft or unauthorised use. We will not hold you liable for the first GBP 35 if the unauthorised payment was caused either by our acts or omissions, or those of a third party expressly carrying out activities on our behalf. Your liability for the first GBP 35 also does not apply to any unauthorised transactions made after you have notified us that your Zillisafe Account may have been compromised (using the details we’ve given you);
(b) if you have acted fraudulently, in which case we will not refund you in any circumstances;
(c) if you do not quickly notify us of security issues on your Zillisafe Account (e.g. loss of your password), you remain liable for losses incurred up to your notification to us;
(d) if the payment transaction was unauthorised but you have with intent or gross negligence compromised the security of your Zillisafe Account or failed to comply with your obligations to use your Zillisafe Account in the manner set out in this Agreement. In such a case you shall be solely liable for all losses; or
(e) if you don’t let us know about the unauthorised or incorrectly completed transaction within 13 months from the date of the payment transaction.
13.7 You are responsible for checking your Zillisafe Account regularly. We rely on you to regularly check the transactions history of your Zillisafe Account and to contact Customer Support immediately in case you have any questions or concerns.
13.8 We are not liable for things which are outside of our control. We (and our affiliates) cannot be liable for our inability to deliver or delay as a result of things which are outside our control.
13.9 You are liable for breaking this Agreement or applicable laws. In the event of loss, claims, costs or expenses (including reasonable legal fees) arising out of your breach of this Agreement, any applicable law or regulation and/or your, or any authorised third parties’, use of our Services, you agree to defend, compensate us and our affiliates and hold us harmless. This provision will continue after our relationship ends.
13.10 What happens if you owe us money? In the event you are liable for any amounts owed to us, we may immediately remove such amounts from your Zillisafe Account (if available). If there are insufficient funds in your Zillisafe Account to cover your liability, we reserve the right to collect your debt to us by using any payments received in your Zillisafe Account and otherwise you agree to reimburse us through other means. We may also recover amounts you owe us through other collection avenues, including, without limitation, through the use of a debt collection agency. We may recover all reasonable costs or expenses (including reasonable attorneys' fees and expenses) incurred in connection with the enforcement of this Agreement.
14. Accessing our services
14.1 We will try to make sure our Services are available to you when you need them. However, we do not guarantee that our Services will always be available or be uninterrupted. We may suspend, withdraw, discontinue or change all or any part of our Service without notice. We will not be liable to you if for any reason our Services are unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to our Services. If you have granted permission to a third party to access your account, we may refuse access to that third party if we are concerned about unauthorised or fraudulent access by that third party. We will give you notice if we do this, either before or immediately after we refuse access, unless notifying you would be unlawful or compromise our reasonable security measures.
15. Information security
15.1 You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. You should use your own virus protection software. We cannot guarantee that our Services will be free from bugs or viruses.
15.2 You must not misuse our Services. You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other materials which are malicious or technologically harmful. You must not attempt to gain unauthorised access to our Website, our servers, computers or databases. You must not attack our Website with any type of denial of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our Website and/or our Services will cease immediately.
