Terms and conditions
1. Definitions:

“We”, “Us” or “Our” mean Interpay Limited trading as Transfermate and Transfermate Ltd trading as Transfermate Inc.

“Booking Reference” means the reference number specific to your payment which We will give you, which will enable both you and Us to identify your payment.

“Business day” means the day We are open for business for the purposes of executing payment transactions.

“Cut-off time” means the time in which the payment needs to be received by Us.

“Framework contract” means a payment service contract which governs the future execution of single and successive payment transactions”.

“Funding Account” means the account in which you nominate to fund your Electronic Funds Transfer to the Transfermate Client Fund Holding Account.

“Market Orders” means an open position you take where you wish to exchange currency at. You notify Our team and We will place the order on the market for you. Once that exchange rate hits, your order is secured.

“Payment instrument” is the set of procedures agreed between you and Us, used to initiate the payment order.

“Receiver/Intermediary Bank Fees” - these are fees the receiving bank or an intermediary may charge their client to receive your payment. We will always send the full payment amount for each transaction. Where both the payer and the payee's Payment Service Provider are located within the European Economic Area (EEA); and the transaction is in Euros, Sterling or another EEA-state currency, the transaction is likely to come under Regulations 50(2) and 68 of the Payment Services Regulations and We would not normally expect there to be any deductions. If your payment is outside this area, please discuss these fees with your beneficiary and your client relationship manager. We cannot, under any circumstances, be liable for any direct or indirect losses that result from Receiver/Intermediary Bank Fees.

“Settlement Date” means the date upon which you must lodge the funds into the nominated Transfermate Client Fund Holding Account.

“Transaction Service” means the services provided by the Transfermate telephone service and your Transfermate online account.

“Transfermate Client Fund Holding Account” means Our nominated bank account which your account manager will ask you to lodge your funds to.

”User” means the individual or company conducting the payment transaction.

2. Introduction

These Terms and Conditions, issued in May 2018, apply to where you ask Us to perform and We agree to perform a foreign exchange transaction on your behalf to an account nominated by you. They govern the opening, use and closure of Transaction Service. Together with Our Privacy Policy and Our Anti-Money Laundering Policy, they constitute the legal relationship between you and Us. For the use of additional services you will have to accept additional Terms and Conditions as advised when you are ordering or using such services.

The Terms and Conditions set forth herein shall apply to your access and use of the Transaction Services and all accounts, services, programs, information and products that you may use, open or otherwise access from time to time on or through Our website or use of Our Transaction Services. You are advised to print or download and keep a copy of these Terms and Conditions for future reference.



We may modify these Terms and Conditions at any time and such modification will be effective two months after posting of the modified agreement on this website. You agree to review these Terms and Conditions periodically to ensure you will be aware of any such modifications, and your continued use or access to Our website and/or the Transaction Service shall be deemed as your acceptance of the modified Agreement.

3. About Us

3.1 Our Registered Office is IDA Business & Technology Park, Ring Road, Kilkenny, Republic of Ireland. We are registered in the Republic of Ireland and Our Company Registration number is E0368136. We are regulated by the Central Bank of Ireland (‘Central Bank’). Our regulatory reference number is C42802. We also trade as, International Student Payment Services, Travel to Work and Visafirst and PaytoStudy. We are a licenced Payment Institution authorised by the Central Bank and have passported Our services around Europe. We also hold licences in additional jurisdictions, such as United States of America, Canada, Australia and New Zealand, further details of which can be found on Our website, www.transfermate.com.

3.2 Access to the Transaction Services are restricted to approved and registered Users.

3.3 As set out above, by accessing Our Transaction Services, you will be deemed to have accepted these terms in full.

3.4 We grant you a limited license to access the Transaction Service which is in accordance with these terms

4. Basic Description of the Payment Service

4.1 We provide money remittance services for payments with a foreign exchange element.

4.2 We may provide Our Transaction Services to you if you wish to make a payment and/or require an exchange of currency or to purchase goods or services.

4.3 You must complete the process of opening an account online and/or through Our telephone service, and comply with Our mandatory anti-money laundering requirements and read and accept Our Terms and Conditions set forth herein (hereinafter the “Account Opening Process”), in advance of using Our Transaction Service.

4.4 After the Account Opening Process has been completed you may book an exchange rate with Us by using Our telephone service, email or through Our website to buy a specified amount of foreign currency from Us, providing your nominated Funding Account and providing full beneficiary details. You will then lodge and settle the agreed amount to Our nominated Transfermate Client Funds Holding Account with the Booking Reference within 3 days (known as the “Settlement Date”).

4.5 You are solely responsible for ensuring that all details you provide are correct. If you do not provide the correct details there will be a delay in the beneficiary receiving payment. We will do everything We reasonably can to rectify any errors, but We will not be liable for any loss or damage caused by error or inaccuracies in your requests. We shall not be liable for any loss, damage, cost or expense suffered by you or any party as a result of any such delay or failure in processing such request.

4.6 With a view to the above, your attention is drawn to the fact that all telephone calls with Our customers are recorded to protect both your and Our interests in the event of a dispute.

4.7 We may refuse to accept any order without giving any reason. We will have no liability to you as a result of doing so.

4.8 Upon full receipt and recognition of the funds We will exchange the funds and process the payment by the next Cut-off time (currently 1pm GMT).

4.9 A receipt/booking confirmation will be issued to your nominated email address. If you do not receive a receipt/booking confirmation or have changed your email address you are required to notify Us immediately.

4.10 The time of receipt of funds shall be deemed to be the later of receipt by Us of the funds due in cleared funds and where so agreed between Us and you, the agreed date for execution of the payment to be made pursuant to a request. Since the commencement of the Single Euro Payments Area (‘SEPA’), unless otherwise agreed in writing between Us and you, We will deliver electronic funds transfer payment(s) requested by you as follows:

  • (a) if the settlement amount, in Cleared Funds, is received by Us and the payment is to be delivered in Euro or Sterling in the EEA, payment will be delivered to the account of the beneficiaries payment service provider, no later than the end of the business day following receipt by Us of cleared settlement funds from you; and
  • (b) if payment is to be delivered within the EEA in any EEA currency other than Euro or Sterling the payment will be delivered to the account of the beneficiary payment service provider no later than the end of the fourth business day following receipt by Us of cleared settlement funds from you. Electronic funds transfer payment to be delivered outside of the EEA or in any non- EEA currency shall be processed and delivered by Us in accordance with Our standard processing times.

4.11 With a view to the above, please note that We do not have any access to your nominated Funding Account and cannot unilaterally debit funds from your account. You must initiate the transfer with your bank to the nominated Transfermate Client Funds Holding Account to effect a payment.

5. Information, Instructions and Execution of a Payment

5.1 Upon completion of Our Account Opening Process you can make a request to book an exchange rate by using Our Transaction Services.

5.2 Any reference to instructions or User instructions includes, without limitation, letter, email, telephone or fax instructions, information, requests or orders. Not in limitation to the foregoing, We may act on instruction from, or purporting to be from, you, until We have received prior written notice to the contrary and a reasonable opportunity to act on such notice.

5.3 You accept and acknowledge that We cannot and do not provide any investment advice, including without limitation, on the merits of any particular order and its likely implications, or on any investment product. You must make any decision to buy or sell currency, to enter into any contract or receive any other service from Us based solely on your own judgment.

5.4 We are entitled to verify the identity of the Users as per Our Anti-Money Laundering Policy and Our Account Opening Process. We may defer acting upon any instructions, until We are satisfied as to the matters on which We have sought clarification and verification.

5.5 When initiating a payment order you can also agree with Us that the execution of the payment order shall start on a specific date. In such cases, point in time of receipt is deemed to be the agreed date.

5.6 Where you proceed and instruct Us to effect a payment transaction you shall be obliged to provide sufficient information in order to ensure that the payment transaction is effected properly. We may request the following information:

5.6.1 Names, numbers and particulars of the account holders;

5.6.2 The amount to be transferred and the currency of the transaction;

5.6.3 The reason for making the payment transaction.

If the details provided by you are incorrect, We will not be liable for non-execution or defective execution of the payment transaction.

5.7 The point in time of receipt of a payment order shall be the time when the payment order is received by Us. If it is not a business day or if it is a Bank Holiday or a Public Holiday or if it is received after Cut-off time, the payment order shall be deemed to have been received on the following business day.

5.8 Immediately after execution of the payment order, We will provide you with the following:

5.8.1 The Booking Reference enabling you to identify the payment transaction;

5.8.2 The date of receipt of the payment order;

5.8.3 A breakdown of the charges payable by you;

5.8.4 The exchange rate used and the amount of the payment transaction after the conversion of the currency;

5.9 Additional and further information may be given by Us but same may be subject to an additional charge.

5.10 The funds received to be credited to an account will be credited by Us on the working day on which the funds are received by the Transfermate Client Fund Holding Account. When the funds are received after Cut-off time or on a day which is not a business day, the account will be credited on the next working day. The amount credited to the intended recipient of funds will be net of fees, charges, commissions and any interest due.

6. Liability for Payment Transactions

6.1 You are solely responsible for ensuring that all details you provide are correct. If you do not provide the correct details there will be a delay in the beneficiary receiving payment. We will do everything We reasonably can to rectify any errors, but We will not be liable for any loss or damage caused by error or inaccuracies in your requests. We shall not be liable for any loss, damage, cost or expense suffered by you or any party as a result of any such delay or failure in processing such request. We shall inform you on the next working day as to the reason/s why the payment transaction was not effected. We shall proceed to effect the payment transaction once the missing information is provided by you, or when the impediment preventing execution is removed. The date of receipt shall be the date when We can actually process the payment transaction.

6.2 Upon you becoming aware of any unauthorized or incorrectly executed payment transaction, you must notify Us of any unauthorized or defective payment transactions without delay. Where We establish that the payment transaction was unauthorized or erroneously effected by Us, We shall proceed to refund to you, the amount of the unauthorized or erroneous payment transaction plus any charges thereon.

6.3 If you are located within the State of Washington, you are entitled to a refund of all moneys received for transmittal within ten (10) days of receipt of a written request for a refund unless:

  • (a) Instructions have been given committing an equivalent amount of money to the person designated by you prior to receipt of a written request for a refund;
  • (b) We have reasons to believe that a crime has occurred, is occurring, or may potentially occur as a result of transmitting the money as requested by the customer or refunding the money as requested by the customer; or
  • (c) We are otherwise barred by law from making a refund.

6.4 We will not be liable in instances of non-execution of payment transaction due to abnormal and unforeseeable circumstances beyond Our control or where We are bound by other legal obligations covered by the domestic or EU Legislation.

6.5 Direct Debit (‘DD’) and Automated Clearing House (‘ACH’) Payments

6.5.1 Where you have arranged DD/ACH payments and funds from a DD/ACH do not reach Our account due to insufficient funds or for any other reason, you must then complete a wire transfer to Us so that funds are not delayed reaching Our account.

6.5.2 We reserve the right to revoke the option of DD/ACH payments where your DD/ACH payment bounces three (3) times.

7. Information about Charges, Interest and Exchange rates

7.1 We have a minimum transfer value of €1,000.

7.2 Corporate transfers

7.2.1 Corporate clients transferring over USD/GBP/EUR 5,000.00 attract no transfer fee.

7.2.2 Transfers under 5,000 USD/GBP/EUR a fee of 5 USD/GBP/EUR applies.

7.2.3 Occasional Transfer under 1,000 USD/GBP/EUR may be completed at Our discretion. A fee of 15 USD/GBP/EUR applies. If We believe that these transfers are no longer occasional a separate agreement on fees must be made.

7.2.4 If We agree in exceptional circumstances to complete same currency transfers a fee will be applied. The standard fees are:

  • Sterling (GBP) transfers cost GBP 15.00;
  • Euro (EUR) transfers cost EUR 15.00;

7.2.5. Where the transfer is to a bank that is not meeting SEPA requirements, We will charge a fee of 10 USD/GBP/EUR where foreign exchange occurs. In line with 7.2.4, where We agree to complete same currency transfers to a bank that is not meeting SEPA requirements, an additional fee will be applied.

7.3 Individual Transfers

7.3.1 We charge individuals transfer fees based on the method of payment you choose, as follows:

  • Transfers from the UK to anywhere are a standard GBP 10.00;
  • Transfers from Euro to the UK EUR 10.00;
  • Transfers from France EUR 15.00;
  • Transfers from AUS or NZ 20.00 dollars;
  • Transfers from US and CAD 20.00 dollars;
  • All transfers booked on the online system are a standard USD/GBP/EUR 15.00;
  • We may at Our discretion complete transfers under 1000 units. These will incur a transfer fee and will be processed as standard (three day) payments.

7.4 We use electronic fund transfers, however, where a client transfers funds 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 the client.

7.5 We do not charge or provide interest to either corporate or individual clients.

7.6 The exchange rate changes every 3 seconds and will be the rate agreed between you and Us.

7.7 The above information is for general guidance only and is not the most up to date figures. For full details of charges, expenses and exchange rates please visit Our website, www.transfermate.com, or telephone Us on Our contact details found on Our website.

7.8 We are not responsible for loss incurred due to the application of Receiver/intermediary bank fees.

8. Compliance with Anti-Money Laundering and Exchange Controls Regulations

8.1 You undertake that you will observe all Anti-Money Laundering and Exchange Control laws and regulations in relation to any request and will use all reasonable endeavours to assist Us to do likewise. In particular, you warrant that the information given in the application and in the request is accurate and that the transfer of said funds will not constituent a breach of any Anti-Money Laundering and Exchange Control Laws and regulations.

8.2 Some legal or regulatory authorities may require additional information, either in respect of organization or particular transactions. You agree to supply all such information, which any legal or regulatory authority may require and/or which We may be required to supply at any time in relation to you and/or any request.

8.3 If you breach any such laws or regulations you thereby irrevocably agree that We may retain any moneys or funds transmitted to Us pursuant to these Conditions and/or not fulfil any request if We are required to do so by any legal or regulatory authorities and such moneys shall not bear interest against Us.

8.4 In addition to requesting documentation from you, We will complete additional checks to verify your identity, these additional checks include but are not limited to, credit reference checks, sanctions check, news checks and checks of other available registers. By applying to use Our Transaction Services you consent to Us using any additional checks We deem appropriate.

9. Communications

9.1 You will communicate with Us either through Our website, for example via live chat, Our telephone service, by email, or Skype.

9.2 We will communicate with you by email, telephone or Skype.

9.3 These terms and conditions are available on Our website for download in PDF or Word Format. If requested by you, We will email or post Terms and Conditions to you. Prior to you using Our Transaction Service, you will be be required to confirm you have read, accepted and understand you are legally bound by said Terms and Conditions when using the Transaction Service. The language of the Terms and Conditions will be in English only and there are no translated versions available.

9.4 All telephone calls with you are recorded to protect both your and Our own interests in the event of a dispute. The telephone recordings will, once a transcript is furnished to you following prior request, be accepted as evidence of the instructions or communications recorded. All such recordings may be used as evidence in any dispute, action, proceedings involving the use by you of Our service.

9.5 You may provide the Booking Reference for your transaction to your beneficiary. By providing the Booking Reference you hereby provide us with your consent to release information regarding the status of this payment to the holder of the Booking Reference and you hereby agree to hold us harmless for any damage or loss suffered by you resulting from the beneficiary’s enquiries. We represent and warrant that we will exercise ordinary care in releasing this information.

10. Safeguards and Corrective Measures

10.1 Each User's registration is for that single User only. We do not permit the registered User to share and the registered User agrees not to share their username and password with any other person or with multiple users on a network.

10.1.1 For corporate clients, where you appoint an individual to make transactions on your behalf on your account with your User details (‘Authorised Contact’), you must ensure the Authorised Contact is trustworthy and will fulfil the security responsibilities that they are given.

10.2 Upon opening an online account, you will be required to select a username and a password. The password must contain at least 8 characters and must contain both letters and numbers. Passwords are case sensitive.

10.3 Upon logging into your online account, the username and the corresponding password will be requested, access will be granted to you and We will not be required to take any further steps to verify that the person accessing the online account is the correct User or that the person accessing the online account is authorised to perform roles assigned by the administrator. By accepting these terms you are confirming that you have all necessary authority to use the online service.

10.4 If you forget your password, you must contact Us and upon satisfactory completion of verification procedures We will issue a new password via email.

10.5 You have a responsibility to exercise reasonable care to prevent unauthorised access to the computer that you use to access the online service.

10.6 In order to protect the security of your online account you must:

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

10.6.2 Change the password regularly.

10.6.3 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.

10.7 Keeping safe online:

10.7.1 Please ensure you periodically review your security arrangements.

10.7.2 Never disclose your password/PIN to anyone (unless they are an Authorised Contact).

10.7.3 Never log into your online account on a device that does not have an up-to-date anti-virus software or a firewall.

10.7.4 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. Additionally, take extra caution when opening unexpected emails and do not download any attachments unless you are confident they are safe.

10.7.5 If you do not comply with security obligations, you may be liable for unauthorised payments from your account(s).

10.8 If you do suspect your passwords or User details have become known to an unauthorized User, or have been lost or mislaid or otherwise, you must contact Us immediately, or you will be liable for some or all of the losses resulting from the unauthorized transactions or your accounts. We will not refund any suspicious/fraudulent payments that have been authorised by Users.

10.9 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.

10.10 You represent and warrant that you will maintain a firewall on your computer to protect it from unauthorised access.

10.11 Online transactions are subject to a minimum and maximum transaction value determined by Us, and We reserve the right to request further information before accepting any transaction.

10.12 In the case of orders processed by telephone, We record calls and your consent to this as a condition of doing business with Us.

10.13 Our fees are calculated as outlined on Our website and you authorise Us to deduct Our fees for the Transaction Service in accordance with the receipt issued after each transaction is completed.

11. Privacy Policy and Data Protection Regulation ((EU) 2016/679) ("GDPR"),

11.1 We collect and retain information about you that We believe is necessary in accordance with Our Privacy Policy and in compliance with the EU General Data Protection Regulation ((EU) 2016/679) ("GDPR"), to help administer business between Us and you and to keep you updated on improvements to Our services and products and to provide you with other relevant information. We collect two types of information:

  • Personal information such as names, addresses, email addresses, copies of photographic identification, incorporation documents etc;
  • Traffic pattern information and transactional information on the Transaction Service.

11.2 Personal information is collected to meet both internal and external compliance requirements, and to enable Us to open a foreign exchange account for you and to be in a position to commence business. Traffic pattern information is used to monitor pages accessed or visited and enables Us to better meet the requirements and needs of Our clients. Transactional information reflects the business you enter into with Us and provides a historical record of business activity which is necessary as a means of monitoring and mitigating money laundering and terrorist financing and also enabling Us to keep up to date with Our client’s foreign exchange needs.

11.3 You accept that your information may be shared between Our associated companies and third parties for the provision of foreign exchange services.

11.4 We do not sell, publish or freely give away personal or transactional information. Your personal information is treated strictly in accordance with the governing law and in particular to comply with the requirements of the EU General Data Protection Regulation ((EU) 2016/679) ("GDPR") and regulations made thereunder.

11.5 We are bound to abide by Anti-Money Laundering legislation and will deal with such activity as outlined in Our Anti-Money Laundering Policy and will assist all statutory authorities in investigations of suspicious activity.

12. Service Access

12.1 While We endeavour to ensure that Our website is normally available 24 hours a day and Or telephone service is available during usual trading hours or such hours as displayed on Our website, We will not be liable if for any reason Our website is unavailable at any given time or the telephone lines are interrupted. We agree to use reasonable efforts to give advanced notice of any scheduled interruption.

12.2 We are dependent on other external suppliers of services (i.e., web hosting, hardware supply and support, remote back-up and disk mirroring, telephone lines). In providing Our Transaction Service to you, you recognize that We can only rely on those suppliers pursuant to their individual terms and conditions and respective service level agreements. We will not be responsible for any loss of any nature caused to you as a result of difficulties with any of Our suppliers.

13. Risks, Cancellation Policy and Telephone Contracts

13.1 You agree to use the Transaction Service at your own risk.

13.2 We recommend that you seek prior independent financial advice and consider carefully whether entering into specific foreign exchange transactions is appropriate in terms of your experience, financial objectives, needs and circumstances.

13.3 The foreign exchange services contained within the Transaction Service require physical delivery of funds to the nominated Transfermate Client Funds Holding Account and accordingly it is suitable only if you are able to deliver, on the Settlement Date, the currency you have agreed to buy from Us. In the event that you are unable to fully settle the payment order at the rate you have booked by delivering the amount sold by Us, then We will close out the payment order at its then prevailing market rates. Any loss or costs incurred by Us will be met in full by you in accordance with the Terms and Conditions set forth herein. Late settlement may incur penalty interest at a compound rate of 20% per annum, calculated daily and payable as a penalty on the date payment is made.

13.4 There are risks associated with utilising the Transaction Service including, but not limited to, the failure of hardware, software, and internet connections.

13.5 The foreign exchange transactions undertaken by you, using the Transaction Service, are pursuant to an individual contract made between you and Us, and is not transferable, negotiable or assignable to or with any third party.

13.6 We will accept Market Orders between the hours as stipulated on Our website. You may make changes to any Market Order (to buy or sell currency at a predetermined level) prior to the Market Order being executed. You are entitled to make changes to a Market Order within the above stated hours provided the Market Order has not been executed. Upon any Market Order being entered into by you, with Us, confirmation of the Market Order will be sent to you. Once a Market Order has been executed by Us a booking confirmation will be sent to you. Market Orders are only ever accepted from you on a best endeavours basis.

13.7 Upon you selecting the ‘Accept' button on Our website for a foreign exchange transaction, a legally binding contract is formed between you and Us. In the event of your having selected ‘Accept' in error you must contact Us immediately requesting the contract to be cancelled and any loss arising on such cancellation will be charged to you and payable by you.

13.8 In the case of telephone orders, calls are recorded and orders placed by telephone are legally binding agreements governed by the Terms and Conditions set forth herein. You accept these Terms and Conditions as legally binding as part of the Account Opening Process where a legally binding contract is formed between you and Us governing the use of the Transaction Service, which must be honoured. This means an agreement on a rate contract over the telephone is a valid contractual agreement and is subject to the Terms and Conditions set forth herein.

14. Intellectual Property and Limited License

14.1 You are permitted to print and download extracts from the website regarding Transaction Service for your own use on the following basis:

14.1.1 No documents or related graphics on the Transaction Service are modified in any way;

14.1.2 No graphics on the Transaction Service are used separately from the corresponding text; and

14.1.3 Our copyright and trademark notices appear in all copies.

14.2 The names, images and logos identifying Us, Our products and services, are proprietary marks belonging to Us. You acknowledge and agree that the content including without limitation the text, graphics, photographs or other material presented on the Transaction Service is protected by copyright, trademark, patents and other proprietary rights and laws. You are only to use the contents as authorised by Us. For the purposes of these terms, any use of extracts from the Transaction Service other than in accordance with clause 14.1 for any purpose, is prohibited. Breach of these terms will result in immediate termination of your trading account whereby you must on request from Us immediately destroy any downloaded or printed extracts from the Transaction Service.

14.3 Subject to clause 14.1, no part of the Transaction Service may be reproduced or stored in any other website or included in any public or private electronic retrieval system or service without Our prior written permission.

14.4 Derivative use of the Transaction Service is prohibited, including any use of data mining, robots or similar data gathering, reverse engineering and extraction tools with the intent of damaging the Transaction Service.

14.5 Any unauthorised use will terminate this license granted by Us. This license is conditioned on your continued compliance with these terms and any rights not expressly granted in these terms are reserved.

15. Disclaimer

15.1 None of the information contained in the Transaction Service constitutes, nor should be construed as foreign exchange advice.

15.2 While We endeavour to ensure that the information on Our website regarding Our Transaction Service is correct, We do not warrant the accuracy and completeness of the material on Our website regarding the Transaction Service. We may make changes to the material on Our website regarding the Transaction Service, or to the products and prices described in it, at any time without notice. The material on Our website regarding the Transaction Service may be out of date, and We make no commitment to update such material.

15.3 The material on Our website regarding the Transaction Service is provided "as is", without any conditions, warranties or other terms of any kind either expressed or implied. Accordingly, to the maximum extent permitted by law, We provide the Transaction Service on the basis that We exclude all representations, warranties, conditions and other terms. This includes, without limitation, the conditions implied by law of satisfactory quality, fitness for purpose and the use of reasonable care and skill which, but for this legal notice, might have effect in relation to the Transaction Service.

16. Liability

16.1 We, any other party (whether or not involved in creating, producing, maintaining or delivering Our website), and any of Our officers, directors, employees, shareholders or agents of any of them, exclude all liability and responsibility for any amount or kind of loss or damage that may result to you or a third party. This includes, without limitation, any direct, indirect, punitive or consequential loss or damages, or any loss of income, profits, goodwill, data, contracts, or other loss or damages, arising from or connected in any way to business interruption. In addition, whether in tort, contract or otherwise in connection with the Transaction Service in any way or in connection with the use, inability to use or the results of use of Our website or Our telephone service, any websites linked to Our website or the material on such websites, including but not limited to loss or damage due to viruses that may infect your computer equipment, software, data or other property on account of your access to, use of, or browsing Our website or downloading of any material from Our website or any websites linked to Our website.

16.2 Nothing in these Terms will exclude or limit Our liability for:

16.2.1 Death or personal injury caused by negligence, or

16.2.2 Fraud; or

16.2.3 Misrepresentation as to a fundamental matter; or

16.2.4 Any liability which cannot be excluded or limited under applicable law.

16.3 If your use of material on the Transaction Service results in the need for servicing, repair or correction of equipment, software or data, you assume all costs thereof.

16.4 We are entitled to assume that all transactions made using your username and password are authorised by you. We will not be liable in any way for any direct, indirect or consequential loss suffered by you as a result thereof;

16.4.1 Any Transaction conducted using your username and password; or

16.4.2 Any suspension, withdrawal or termination of your access to Our Transaction Service; or

16.4.3 Interruptions to Our Transaction Service.

16.5 You indemnify and hold Us harmless against any and all loss suffered by Us, which may result from your misuse of Our Transaction Service or breach of these Terms.

16.6 Access to the Transaction Service may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for reasons beyond Our control and We will incur no liability.

17. Market Information

17.1 We make available market information services generated internally containing, but not limited to financial market data, rates, news, charts or data. Market information provided on Our website or in email format or over the telephone is not intended as foreign exchange advice.

17.2 We do not guarantee the accuracy, timeliness, completeness or correct sequencing of the market information. We reserve the right to discontinue offering market information at any time without notice.

18. Foreign Exchange Rates

18.1 The facilities offered on Our Transaction Service include real time instantly tradable rates. Without limiting the foregoing, "real-time" rates viewed on Our website regarding Our Transaction Service, particularly in times of high volumes of trading and market volatility, may not be reflective of the current price of the currency. Due to the automation of this service, errors in quoted rates may occur on limited occasions under some circumstances. In such cases We may in Our sole discretion decline to complete transactions based on such erroneous rates and will notify you as soon as possible after We determine not to complete any such transactions requested under your username and password. In all such cases We will justify such actions.

19. Cancellation of Access

19.1 We may suspend or withdraw your access to Our Transaction Service at any time without prior notice if:

19.1.1 You have breached these terms or have acted fraudulently.

19.1.2 We learn:

  • (a) Of your death, bankruptcy or lack of legal capacity; or
  • (b) That you have committed an act of bankruptcy or that a bankruptcy petition has been presented against you; or
  • (c) If the User is a company, that a liquidator or receiver has been appointed in respect of the User's assets.

19.1.3 We otherwise deem such suspension or withdrawal necessary or appropriate, in its sole discretion.

19.2 You may cancel your access to Our Transaction Service at any time by giving Us written notice. You will remain responsible for any transactions made on your account through the Transaction Service up until access to your account is actually disabled.

19.3 Transactions in respect of which you have given Us instructions and which are to be made after your access to Our Transaction Service is terminated or suspended will not be effected.

20. Redress and Complaints Procedure

20.1 Where an official complaint is received by Us, We will record the nature of the complaint and issue an acknowledgement email to you within 5 business days of receiving your complaint. The acknowledgement will provide you with the contact name who is responsible for dealing with your complaint. The official complaint must be made by email (you may also write, although this will slow down the process), and confirm that you wish to enter this process. Please email your complaint to compliance@transfermate.com.

20.2 We will investigate your complaint as swiftly as possible and where applicable, you will receive a regular written update on the progress of the investigation at intervals of not more than 20 business days.

20.3 We will try to resolve your complaint within 40 business days of having received the complaint. If your complaint cannot be resolved within 40 business days, We will write to you notifying you of the anticipated timeframe for the conclusion of the investigation.

20.4 Within 5 business days of the conclusion of the investigation of the complaint, We will issue a resolution letter detailing the outcome of the investigation. This letter will include, if applicable, an explanation of the terms of any offer that We are prepared to make in settlement of your complaint.

20.5 If at any time you are unsatisfied with the handling of your complaint or We cannot resolve the complaint within the 40 Business days timeframe, you will be notified of your right to refer the matter to the Financial Services Ombudsman's Bureau, or the local competent authority for your jurisdiction, for your local authority please follow the attached link http://ec.europa.eu/internal_market/payments/docs/framework/transposition/complaints_en.pdf.. The Irish competent authority - Financial Services Ombudsman's Bureau 3rd Floor, Lincoln House, Lincoln Place, Dublin 2 Telephone 1890 88 20 90 Fax (01) 662 0890 Email enquiries@financialombudsman.ie Web www.financialombudsman.ie

21. QuickBooks

21.1 QuickBooks will provide Us access to process and retrieve contact details and transaction data related to you. By accepting Our Terms and Conditions you agree to be bound by same and permit Our access to your QuickBooks transaction history. In line with 11. Privacy Policy and Data Protection Regulation Regulation ((EU) 2016/679) ("GDPR"),, We will retain and maintain information in accordance with legislative requirements. We will only hold accurate and meaningful information where Our Transaction Service is used.

22. Governing Law and Jurisdiction

22.1 These Terms and Conditions of use of the Transaction Service and any disputes arising out of or related to the Transaction Service are governed by and interpreted by the laws of the Republic of Ireland, and each party hereto irrevocably submits to the exclusive jurisdiction of the courts of the Republic of Ireland. This is the case regardless of whether you reside or transact business with Us elsewhere in the world.

22.2 Without limiting the foregoing, you acknowledge and understand that laws regarding foreign exchange contracts vary throughout the world, and it is your obligation alone to ensure that you fully comply with any law, regulation or directive, relevant to your country of residency with regards to the use of the Transaction Service. For avoidance of doubt, the ability to access to Our Transaction Service does not necessarily mean that the services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residence.

23. Regulatory Contact Information and Certain Disclosures


Alabama Securities Commission
401 Adams Ave Suite 280
Montgomery, AL 36104


Alaska Division of Banking & Securities
PO Box 110807 Juneau, AK 99811-0807
Phone Number: 1-888-925-2521 or 907-465-2521
Email: moneytransmitters@alaska.gov


Arkansas Securities Department
201 E Markham
Heritage West Bldg Ste 300
Little Rock AR 72201-1692


California Department of Business Oversight
1515 K Street, Suite 200
Sacramento, California 95814-4052


Please review our Customer Notice.
Colorado Division of Banking
1560 Broadway, Suite 975
Denver, CO 80202
Phone: 303-894-7575
Fax: 303-894-7570


Connecticut Department of Banking
260 Constitution Plaza
Hartford CT 06103-1800


Delaware Office of the State Bank Commissioner
555 E Loockerman St
Ste 210
Dover DE 19901
302 739-4235

District of Columbia

Department of Insurance, Securities and Banking
801 1st St NE #701
Washington DC 20002
202 727-8000


Florida - Office of Financial Regulation
Division of Consumer Finance
200 East Gaines St
Tallahassee, Florida 32399


Georgia Department of Banking and Finance
2990 Brandywine Road
Suite 200
Atlanta, Georgia 30341-5565


Idaho Department of Finance
800 Park Blvd., Suite 200
Boise, ID 83712
P.O. Box 83720
Boise, ID 83720-0031
Toll-Free (Within Idaho Only): 1-888-346-3378
E-Mail: finance@finance.idaho.gov


Illinois Dept of Financial and Professional Regulation,
Division of Financial Institutions
100 West Randolph, 9th Floor
Chicago, IL 60601


Iowa Division of Banking
200 East Grand Ave Ste 300
Des Moines IA 50309-1827
Phone: (515) 281-4014
E-Mail: IDOBcomplaints@idob.state.ia.us


Kansas Office of the State
Bank Commissioner
Attn: Complaints
700 SW Jackson, Suite 300
Topeka, Ks. 66603
785 296-2266
E-mail: complaints@osbckansas.org


Kentucky Department of Financial Institutions
1025 Capital Center Dr, Ste 200
Frankfort KY 40601
E-mail: kfi@ky.gov


Louisiana Office of Financial Institutions
8660 United Plaza Blvd 2nd Fl
Baton Rouge LA 70809
E-mail: complaints@ofi.la.gov


Maine Department of Professional and Financial Regulation,
Office of Consumer Credit Regulation
State House Station #35
Augusta ME 04333


Massachusetts Division of Banks
1000 Washington St Fl 10
Boston MA 02118-2218


Michigan Dept of Insurance and Financial Services
PO Box 30220
Lansing MI 48909-7720


Minnesota Department of Commerce
85 7th Place East, Suite 500
St. Paul, MN 55101


Mississippi Department of Banking and Consumer Finance
PO Box 23729
Jackson MS 39225


Missouri Division of Finance
P. O. Box 716
Jefferson City, MO 65102-0716


Nebraska Department of Banking & Finance
P.O. Box 950006
Lincoln, NE 68509

New Hampshire

New Hampshire Banking Department
53 Regional Drive Suite 200
Concord NH 03301

New Jersey

New Jersey Dept of Banking & Insurance
Office of Consumer Finance, Division of Banking
20 West State St. - 7th Floor
PO Box 040
Trenton NJ 08625-0040

North Carolina

North Carolina Commissioner of Banks
4309 Mail Service Center,
Raleigh, NC 27699-4309

North Dakota

North Dakota Department of Financial Institutions
2000 Schafer Street, Suite G
Bismarck, ND 58501-1204


Ohio Department Of Commerce
Division Of Financial Institutions
77 South High Street
21st Floor
Columbus, OH 43215-6120

Phone 614-728-8400
Fax 614-728-0380
E-mail: Web.dfi@com.ohio.gov


Oklahoma Banking Department
200 North Lincoln Boulevard
Oklahoma City, OK 73105


Oregon Department of Consumer & Business Services
Division of Finance and Corporate Securities
PO Box 14480
Salem, OR 97309-0405


Pennsylvania Department of Banking
17 North Second St 13th Fl
Harrisburg PA 17101

Rhode Island

Rhode Island Department of Business Regulation
Division of Banking
1511 Pontiac Avenue Cranston, RI 02920

South Dakota

South Dakota Department of Labor and Regulation
Division of Banking
1601 N. Harrison Avenue, Suite 1
Pierre, SD 57501


Tennessee Department of Financial Institutions
400 Deaderick St, 6th Floor
Nashville, TN 37243
E-mail: tdfi.contact@tn.gov


If you have a complaint, first contact Transfermate, Inc., at 866-539-7793. However, if you still have an unresolved complaint involving a Texas money transmission, please direct your complaint to: Texas Department of Banking and Finance, 2601 North Lamar Blvd, Austin TX, 78705, phone number: 877-276-5554, or visit TX Department of Banking’s website: www.dob.texas.gov.


Utah Financial Institutions
P.O. Box 146800
Salt Lake City, Utah 84114-6800
Phone: (801)538-8830
E-mail: dfi@utah.gov


State of Vermont
Department of Financial Regulation
89 Main Street, Montpelier, VT 05620-3101


Virginia State Corporation Commission
Bureau of Financial Institutions
P.O. Box 1197
Richmond, VA 23218


Washington Department of Financial Institutions
Division of Consumer Services
P.O. Box 41200 Olympia, WA 98504-1200

West Virginia

West Virginia Division of Financial Institutions
900 Pennsylvania Avenue
Suite 306
Charleston, WV 25302


Wyoming Department of Audit
122 W 25th St, #3e
Cheyenne, WY 82001

  • 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 Transfermate, Inc. for any help.