User Agreement

This Agreement was last updated on 28 May 2021

This Agreement (the "Agreement") is between You and Global Web Pay Limited, whose company registration number is 07321803 and whose registered office is 1, Forstal Road, Aylesford, Kent, ME20 7AU (together with its employees, directors, successors, affiliates, and assignees, "GlobalWebPay", "We", "Us", and "Our"). Global Web Pay Limited is authorised by the Financial Conduct Authority (FCA) under the Payment Service Regulations, 2009 for the provision of payment services. FCA Registration Number FRN 631844.

The Agreement governs the terms under which Senders (together, "You" and "Your") may use the payment service provided by GlobalWebPay (the "Service"). By accessing and using the Service, You agree to the terms of this Agreement, which will be effective from this date onwards.

1.1 Overview of the Service: As part of the Service GlobalWebPay will provide You with an account (the "Account") to transfer funds to individuals around the world. A "Sender" is someone who uses the Service to transfer funds. A "Recipient" is someone to whom a Sender transfers funds. The "Destination Country" is the country in which the Recipient receives the funds. A "Transaction" is a transfer of funds from the Sender to the Recipient by way of the Service. The "Transaction Amount" is the amount that the Sender provides to GlobalWebPay for transfer to the Recipient, excluding applicable fees and before any foreign exchange conversion. The "Payout Amount" is the amount available to the Recipient after any foreign exchange conversion. The "Funding Amount" is the total amount You provide to GlobalWebPay in connection with the Service, including all applicable fees.

1.2 Methods of funding a Transaction: You may either fund a Transaction by:
 

• Transferring the Funding Amount from Your bank account to GlobalWebPay’s bank account ("Local Bank Transfer"), quoting the 12-digit reference number (beginning with GWP) associated with Your Account,
• Making a payment of the Funding Amount to GlobalWebPay using Your debit card ("Debit Card Payment"),

• Making a payment via the open banking application known as “Vyne” provided by payvyne.com.

• The payment options available to You will be presented to You at the point You are asked to fund Your order with Us.

  Please note: You may be offered alternative payment methods depending on the account type You have with Us and the country You reside in and the Country You are sending to.

1.3 Eligibility: You must be at least 18 years old to use the Service and be able to enter into a legally binding agreement under applicable law. You must be the lawful and valid holder of a bank account and any associated payment cards You use in relation to the Service.

1.4 Ineligibility: We may refuse Transactions from certain Senders and to certain Recipients where We are required to do so by law. You may not use the Service to transfer funds on behalf of another person or entity or for any purpose relating to pornography, gambling or proscribed drugs. You may also not use the Service for any other prohibited purpose which may be identified from time to time in the country where You are originating the payment from or sending the payment to.  We may also withdraw or temporarily suspend Our service to You if You have provided false identity documentation, failed due diligence processes or sanctions checks. Any attempt by You to tamper with Our service using technology such as denial of service, hacking, corruption, security breach or introducing malicious code will also result in Service being refused. For the avoidance of doubt Our Compliance team have total and final discretion in this matter.

1.5 Availability: The Service will only be available in certain countries. GlobalWebPay will aim to give You two months’ notice of any countries that are no longer available, or where new countries are added to the Service. However, availability of particular countries may change from time to time and without notice due to regulatory requirements, conditions in the Destination Country, or circumstances otherwise beyond GlobalWebPay’s control. Always check Our Website for a list of all currently available countries.

2.1 Initiating a Transaction: When You enter Your Account and request information on a proposed Transaction, providing, as a minimum, the information listed in Clause 2.2, the GlobalWebPay system will issue You with a quote for this Transaction. If You accept this quote by clicking 'Confirm' at the bottom of the page, You authorise Us to process the Transaction.

2.2 Information We need from You: You must provide Us with the Transaction Amount, the name and bank details of the Recipient, and the currency in which You wish the Payout Amount to be available to the Recipient, as a minimum. When You select the country and currency combination You will be presented with a template of the information We require, where You can provide the requested information.  Without this information, We will not be able to execute the Transaction.

It is Your responsibility to make sure that the Transaction information is accurate before You accept the quote – especially the bank account number/IBAN as payments sent to the wrong account may not be able to be retrieved.

2.3 Payment: Without prejudice to Clause 5.2, You must pay Us the Funding Amount for each Transaction, regardless of whether the Payout Amount has been made available to the Recipient. We will not execute the Payment to the Recipient before We have received the Funding Amount from You.

2.4 Availability of the Payout Amount to the Recipient: Availability of the Payout Amount may be subject to delay due to regulatory requirements, compliance queries by Us or third parties involved in the Transaction, conditions in the Destination Country, or circumstances otherwise beyond GlobalWebPay’s control. GlobalWebPay makes no representation on when the Payout Amount will be available to the Recipient, except to the extent set out in Clause 2.5.

2.5 Timing: The Payout Amount may be available on the same working day and, if not, will normally be available to the Recipient on the next Business Day, but may take up to three Business Days after the relevant point in time specified in Clause 2.5.1 or 2.5.2. SWIFT payments may be available between 1 and 3 working days but in some cases may take longer and vary by destination country. However, if this day is a day at which the Recipient’s bank is not open for business, the Payout Amount will be available to the Recipient on the next day the bank is open for business. For further information on when the Recipient’s bank is open for business You should check that bank’s opening times. At the point the Payout is sent to the Recipient account You will receive a notification giving a more detailed estimate of the delivery time based on Your Country and Currency selections.

2.5.1 For Transactions funded by Local Bank Transfer, the point in time when GlobalWebPay receives Your funds provided this is on a Business Day before 11:00 GMT, otherwise the next Business Day.

2.5.2 For Transactions funded by Debit Card Payment, the point in time when You accept the quote provided this is on a Business Day before 11:00 GMT (in London), otherwise the next Business Day.

2.6 Transaction Limits and Account types: GlobalWebPay operates several Account levels for both individuals and business clients as set out in Clauses 2.6.1 to 2.6.2. Each Account level is associated with identification requirements as set out on Our Website. GlobalWebPay reserves the right to reduce Your Transaction limits from time to time and with immediate notice. More detailed information on Our account types can be found in our FAQ section. You can contact Us to request an increase or decrease in Your Account level.

2.6.1 With an Introductory Account or Business Introductory Account, You may make a smaller number of Transactions with a onetime total Transaction Amount, subject to the minimum Transaction amount. You will be asked to provide additional information to verify Your identity.

2.6.2 With a Standard Account or one of Our Premium Accounts, You may make an unlimited number of Transactions with the total value of Transaction Amounts being calculated per 30-day period.

2.7 Reversals: Once a payment has been set up and approved it may be reversed if it has any incorrect or incomplete information (e.g. wrong IBAN etc.). In this case the payment will be rejected and You will receive an email indicating the reason. Your funds will be returned in full together with the transfer fee to Your GlobalWebPay account balance. You can then correct the payment details and set up a new transfer. When You checkout the new payment the funds in the account balance will be applied.

2.8 Returns: Occasionally a payment may be returned by the recipient’s bank – e.g. if the account was closed or the details of the payment didn’t match those on the account or the recipient refused to accept the payment. In this case, the amount returned will be converted at the then current exchange rate and the resulting GBP value returned to Your GlobalWebPay account balance. The initial payment fee is not returned. You will receive an email indicating the reason for the return and You can then decide to either resend a corrected or alternative payment or return the funds to Your own account.

3.1 Charges: GlobalWebPay charges a flat fee, starting from £1 (depending on the country) (the "Service Fee") for all Transactions in local currency, regardless of the Transaction Amount. You agree to pay us the Service Fee at the same time as You provide us with the Transaction Amount. For international payments made via the SWIFT network, We will charge a different fee. SWIFT fees start from £4.75 The exact fee will be confirmed at the time of quotation. Should You request that We trace a payment or request a recall of a payment fees are charged by the processing bank. We will pass these charges on to You.

Charges may differ by payment type, for example when using a corporate debit card where We are charged a percentage fee by Your card provider. You will be made aware of this when You set up your order and select the payment type.

Other charges may be applied, on a case-by-case basis, for administration tasks such as producing documentation and such other services not available via the website, but which maybe requested by You, in exceptional circumstances.

3.2 Exchange Rates:  The Recipient will receive the Payout Amount in the official currency of the Destination Bank Account. If You are transferring funds to a Recipient in a Destination Country where the official currency is not pound sterling, We will use a currency exchange rate to convert the Transaction Amount into the official currency of that selected bank account. When We provide You with a quote that You accept at Check Out, the quoted exchange rate will be valid for a short period (usually 2 hours or more). If the order isn’t funded within this period, then the order will expire and You must request a new quote.

Our exchange rates are calculated using a reference exchange rate onto which We apply a margin. The margin is as quoted.

The reference exchange rate is obtained every few minutes from our FX partner. Before Check Out, if the rate is updated, we will ask You to confirm the updated rate before this is locked into Your order.

These rates can also be obtained by executing the calculator function on our Website. The calculator provides the actual rate that we offer, rather than any unobtainable rate such as a mid-rate or interbank rate.

4.1 Your Obligations: You are responsible for keeping Your password and Account details safe. You must not disclose Your password or Account details to anyone else. If You think that You have lost Your password or Account details, that they have been stolen, or that someone has been using Your Account without Your permission, You must notify Us immediately using the email address or telephone number provided in Clause 7.1.

4.2 Our Obligations: We will ensure that Your password and Account details are kept secure and that Your password is only available to You.

4.3 Account Suspension: Where You have notified Us of the circumstances described in Clause 4.1, or where We suspect unauthorised or fraudulent use of Your Account has taken place or have other concerns regarding the security of Your Account, We will suspend Your Account. In this case We will notify You by email of the suspension, giving Our reasons for it, unless this would reasonably compromise security measures or would otherwise be unlawful. Where We are able to do so, We will endeavour to notify You in advance of the suspension. If this is not possible, We will notify You immediately afterwards or as soon as practicable after the reasons for suspending Your Account cease to exist, We will reactivate Your Account or issue You with a new password.

5.1 Disputes between Sender and Recipient: You provide us with the recipient details, set up and approve the payment. We send the funds to the recipient as instructed and approved by You. As a result, We accept No Liability for disputes arising between the sender and the recipient.

5.2 Payment for goods or services: We have no control over and accept no liability for the quality, safety, legality, or delivery of goods or services that You pay for using the Service. We strongly advise You to only use the Service in relation to Recipients known to You and of whom You have sufficient knowledge and whose identity You have verified. You acknowledge that We have no control over the suppliers or over the goods and services for which You use Our Services to make payments and We have no responsibility for the quality, safety, legality, or the delivery of such goods or services to You or Your recipients.

5.3 Incorrectly executed Transactions: If You think there has been a mistake in the processing of a Transaction, You must inform Us immediately using the email address or telephone number provided in Clause 7.1, and in any event no later than 13 months after the relevant point in time in Clause 2.6.1 or 2.6.2. Please note that this time limit will not apply if We have not provided You with the necessary information about the Transaction required under applicable law. Once You have informed Us of an incorrectly executed Transaction, We will endeavour to find the reasons for this and inform You of the outcome as soon as possible. Where the reason for the incorrect execution is attributable to a mistake on Our part, We will refund You the Funding Amount. Where the incorrect execution is attributable to a mistake on Your part, We will refund You the Transaction Amount to the extent that it is possible to recover, minus the fee You paid and also any bank fees We are charged. In addition, if You request that a payment is recalled, then (a) You will be liable to a fee of £50 and (b) You will be advised that there is no guarantee that the funds can be recalled as this always is dependent on the recipient agreeing to have their account debited.

6.1 Personal Information: If We collect any personal information from You, We will take all reasonable precautions to keep this information secure. Your personal information will only be used for the purposes of fulfilling Our obligations under this Agreement and will not be disclosed to third parties except to the extent necessary to provide the Service or if We are required to do so by law. Your personal information may be processed outside the European Economic Area by Recipient’s banks, and GlobalWebPay may use the information in connection with any investigation into fraudulent activity or the misuse of an Account. If You would like a copy of any personal information We hold on You, please contact Us using the details provided in Clause 7.1. You may require Us to correct any inaccuracies in the information We hold on You. For more information, please refer to our Privacy Policy.

7.1 Notices to Global Web Pay : Any queries relating to the Service as Well as notices under this Agreement should be emailed tosupport@globalwebpay.com or addressed in writing to Customer Support, Global Web Pay Limited, 2 Kingdom Street, London, W2 6BD. You may also phone us on 020 7233 9595.

7.2 Notices to You: We may communicate with You regarding the Service by means of electronic communications, including:

(a) sending electronic mail to the email address You provided during registration, or

(b) posting notices or communications on Our Website.

You agree that We may send electronic communications to You in relation to any matter relating to Your use of the Service including this Agreement (and revisions or amendments to this Agreement), notices or disclosures regarding the Service and payment authorisations. You should maintain copies of electronic communications by printing a paper copy or saving an electronic copy, and information that is provided to You in an electronic format is provided under the assumption that You will be able to print or save such information.

7.3 Information on Transactions: Information on any Transactions You initiated will be made available in the 'Transaction History' section of Your Account immediately after execution.

7.4 Complaints: If You have a complaint or are unhappy about the Service, You should contact Us using the details provided in Clause 7.1. We will endeavour to resolve any problems as quickly as possible in accordance with Our Complaints Policy which can be found on Our Website. We may ask for additional information from You before dealing with the complaint. If any complaint made to Us is not resolved to Your satisfaction, You may be able to refer it to the Financial Ombudsman Service which can be contacted by post at South Quay Plaza, 183 Marsh Wall, London E14 9SR, by telephone on 0800 0234 567 and by email at complaint.info@financial-ombudsman.org.uk

8.1 Language: We are required by law to tell You that the terms of this Agreement are in English and that We will communicate with You at all times in English. You may at any time during the term of this Agreement request a copy of this Agreement.

8.2 Changes to the Agreement: . If We make any changes to this Agreement, We will inform You by posting the updated Agreement on Our Website. We reserve the right to apply inconsequential changes such as spelling errors immediately and without notice. If You do not inform Us that You do not accept the proposed changes before, they come into effect, We will assume that You accept them. If You do not accept the changes, You have the right to terminate this Agreement immediately and without charge. Your account with Us will then be closed.

8.3 Termination: This Agreement will continue until it is either terminated by You or GlobalWebPay. You may terminate this Agreement at any time and without charge by writing to Us at the address specified in Clause 7.1, stating Your name, address, Account details and when You would like the Account to be closed. This will not affect any Transactions initiated before the requested date of termination or any funds owed by You or Us under this Agreement. We may terminate this Agreement by giving You one month’s notice. Should any KYC or AML concerns become apparent then We will terminate this agreement immediately and without notice. As advised by our regulators, We will not be obliged to provide You with further information should this situation occur.

8.4 Entire Agreement: You agree that this Agreement is the entire agreement between You and GlobalWebPay and supersedes and terminates any prior agreement.

8.5 Severability: In the event any provision (or part provision) of this Agreement is held by any court or authority of competent jurisdiction to be invalid, illegal or unenforceable, that provision or part-provision will, to the extent required, be deemed not to form part of the Agreement, and the validity and enforceability of the other provisions of the Agreement will not be affected.

8.6 Rights of Third Parties: A person who is not a party to the Agreement will not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any provision of the Agreement.

8.7 Governing Law and Jurisdiction: This Agreement is governed by English law and You agree that any legal case concerning this Agreement will be heard by the courts of England and Wales.