These Terms and Conditions apply to where you ask us to perform and we, Transfermate, agree to perform a foreign exchange transaction on your behalf to an account nominated by you. They govern the opening, use and closure of your Transfermate Online Account and operation of the Transfermate Telephone Service (hereinafter the “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 Transfermate Website and Telephone Services and all accounts, services, programs, information and products that you may use, open or otherwise access from time to time on or through this Website or use of our Telephone Service. You are advised to print or download and keep a copy of these Terms and Conditions for future reference.

YOU ACKNOWLEDGE AND AGREE THAT THESE TERMS AND CONDITIONS FORM PART OF A LEGALLY BINDING AGREEMENT ENFORCED PURSUANT TO APPLICABLE LAW AND NEITHER TRANSFERMATE NOR YOU MAY CHALLENGE THE VALIDITY OF THE AGREEMENT BETWEEN THE CONTRACTING PARTIES.

IF YOU DO NOT AGREE WITH ANY OF THE TERMS AND CONDITION SET FORTH HEREIN, PLEASE DO NOT ACCESS OR OTHERWISE USE THE TRANSFERMATE WEBSITE OR TELEPHONE SERVICE OR ANY INFORMATION CONTAINED ON THIS WEBSITE. BY USING OUR TRANSACTION SERVICES YOU WILL BE DEEMED TO HAVE AGREED TO THE TERMS SET FORTH HEREIN.

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 the Website and/or the Telephone Service shall be deemed as your acceptance of the modified Agreement.

Definitions:

“We” or “Us” mean Interpay Limited trading as Transfermate.
“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.
“Payment instrument” is the set of procedures agreed between you and us, used to initiate the payment order.
“Settlement Date” means the date upon which you must lodge the funds into our nominated client fund holding account.

1. About Interpay Ltd trading as Transfermate

1.1 We are Interpay Limited, Trading as Transfermate. Interpay Ltd’s Registered Office is IDA Business & Technology Park, Ring Road, Kilkenny, Republic of Ireland. Interpay Ltd is registered in the Republic of Ireland and its Company Registration number is E0368136. Interpay Ltd, trading as Transfermate, is regulated by the Central Bank of Ireland. Interpay Ltd’s regulatory reference number is C42802. Interpay Ltd also trades as, International Student Payment Services, Travel to Work and Visafirst and PaytoStudy. Interpay Ltd is a licenced Payment Institution authorised by the Central Bank of Ireland and has passported its services around Europe. Interpay Ltd also holds licences in additional jurisdictions, such as United States of America, Canada, New Zealand and Australia, further details of which can be found on the Transfermate website.

1.2 Access to the Service is restricted to approved and registered Users.

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

1.4 Transfermate grants you a limited license to access the Transaction Service which is in accordance with these terms.

2. Basic Description of the payment service

2.1 Interpay Ltd provides money remittance services for payments with a foreign exchange element.

2.2 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.

2.3 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 the Transfermate Transaction Service.

2.4 After the Account Opening Process has been completed you may book an exchange rate with Transfermate 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 Transfermate’s nominated client funds holding account with the reference provided by Transfermate within 3 days (known as the “Settlement Date”).

2.5 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. Furthermore 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.

2.6 With a view to 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.

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

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

2.9 A receipt will be issued to your nominated email address. If you do not receive a receipt or have changed your email address you are required to notify us immediately.

2.10 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. Unless otherwise agreed in writing between us and you we will deliver electronic funds transfer payment(s) requested by you as follows

• if the settlement amount, in Cleared Funds, is received by us from November 1, 2009 to December 31, 2011 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 services provider no later than the end of the third business day following receipt by us of cleared settlement funds from you.


• if the settlement amount, in Cleared Funds, is received by us from and after January 1, 2012 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


• 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.

2.11 With a view to the above, please note that Transfermate 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 Transfermate’s nominated client funds holding account to effect a payment.

3. Information, Instructions and Execution of a Payment

3.1 Upon completion of our Account Opening Process you can make a request to book an exchange rate by using our telephone service, email or through our website.

3.2 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.

3.3 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.

3.4 We are entitled to verify the identity of the Users and/or their corporate entities 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.

3.5 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.

3.6 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:

3.6.1 Names, numbers and particulars of the Account Holders;

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

3.6.3 The reason for making the payment transaction.

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

3.7 The point in time of receipt of a payment order shall be the time when the payment order is received by Transfermate.
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.

3.8 Immediately after execution of the payment order, Transfermate will provide you with following:

3.8.1 The reference enabling you to identify the payment transaction;

3.8.2 The date of receipt of the payment order;

3.8.3 A breakdown of the charges payable by you;

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

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

3.10 The funds received to be credited to an account will be credited by Transfermate on the working day on which the funds are received by the Bank. 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.

4. Liability for Payment Transactions

4.1 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. Furthermore 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.

4.2 Upon you becoming aware of any unauthorized or incorrectly executed payment transaction, you must notify Transfermate of any unauthorized or defective payment transactions without delay. Where Transfermate establishes 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.

4.3 Transfermate 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.

5. Information about Charges, Interest and Exchange rates

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

5.2 Corporate transfers

5.2.1 Corporate transferring over USD/GBP/EUR 1,000.00 attracts no transfer fee. If the Firm allows transfers under USD/GBP/EUR 1,000 a fee of USD/GBP/EUR 5 applies.

5.2.2 Notwithstanding clause 5.2.1 same currency corporate transfers will incur the following charges:

• Sterling (GBP) transfers cost GBP 5.00;
• Euro (EUR) transfers cost EUR 5.00;
• US Dollar (USD) transfers cost USD 15.00;
• Canadian Dollar (CAD) transfers cost CAD 15.00.

5.3 Individual Transfers

5.3.1 Transfermate charges individuals transfer fees based on the method of payment you choose, as follows:

• Transfers to the UK same day (Chaps) payments cost EUR 15.00;
• 3 day payment (bacs) no charge;
• Transfers from the UK to anywhere are a standard GBP 10.00;
• Transfers from Ireland to any where except UK are EUR 15.00;
• Transfers from AUS or NZ 10.00 dollars;
• Transfers from US and CAD 20.00 dollars;
• All transfers booked on the online system are a standard USD/GBP/EUR 10.00.

5.4 The firm does not charge or provide interest to either corporate or individual clients.

5.5 The exchange rate changes every 3 seconds and will be the rate agreed between you and the firm.

5.6 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 the www.transfermate.com or telephone us on our contact details found on our website.

6. Compliance with Anti-Money Laundering and Exchange controls regulations

6.1 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 endeavors to assist Transfermate 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.

6.2 Some legal or regulatory authorities 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.

6.3 If you breach any such law or regulations you thereby irrevocably agree that Transfermate may retain any moneys or funds transmitted to us pursuant to these Conditions and/or not fulfill any request if we are required to do so by any legal or regulatory authorities and such moneys shall not bear interest against Transfermate.

6.4 In additional to requesting documentation from you, Transfermate 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 Transfermate’s Transaction Services you consent to us using any additional checks we deem appropriate.

7. Communications

7.1 You will communicate with Transfermate either through the company’s website or the telephone service or by email.

7.2 Transfermate will communicate with you by email or telephone.


7.4 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, 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.

8. Safeguards and corrective measures

8.1 Each account User's registration is for that single User only. Transfermate does 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.

8.2 Upon opening a trading 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.

8.3 Upon logging into your account online, the username and the corresponding password will be requested, access will be granted to you and Transfermate will not be required to take any further steps to verify that the person accessing the Client account is the correct User or that the person accessing the 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.

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

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

8.6 In order to protect the security of your trading account you must:

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

8.6.2 Change the password regularly.

8.6.3 Be vigilant and watch out for fraudulent (or ‘phishing') e-mails that claim to be from Transfermate 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 Transfermate or alternatively forward the suspect e-mail to Transfermate.

8.7 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 Transfermate immediately, or you will be liable for some or all of the losses resulting from the unauthorized transactions or your accounts.

8.8 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 Transfermate's Website or Transaction Service to any harmful material or device.

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

8.10 Online Transactions are subject to a minimum and maximum transaction value determined by Transfermate, who reserves the right to request further information before accepting any Transaction.

8.11 In the case of orders processed by telephone, Transfermate records calls and your consent to this as a condition of doing business with Transfermate.

8.12 Transfermate fees are calculated as outlined on the Website and you authorise Transfermate to deduct their fees for the Transaction Service in accordance with the contract note issued after each transaction is completed.

9. Privacy Policy and Data Protection

9.1 Transfermate collects and retains information about you that we believe is necessary in accordance with its Privacy Policy and in compliance with the Data protection Acts 1988 and 2003, to help administer business between Transfermate and you and to keep you updated on improvements to Transfermate's services and products and to provide you with other relevant information. Transfermate collects 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.

9.2 Personal information is collected to meet both internal and external compliance requirements, and to enable Transfermate to open a foreign exchange trading 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 Transfermate to better meet the requirements and needs of our clients. Transactional information reflects the business you enter into with Transfermate 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 Transfermate to keep up to date with our Client’s foreign exchange needs.

9.3 You accept that your information may be shared between Transfermate associated companies for the provision of foreign exchange services.

9.4 Transfermate does 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 Data Protection Acts 1988-2003 and regulations made thereunder.

9.5 Transfermate is bound to abide by Anti-Money Laundering legislation and will deal with such activity as outlined in the Transfermate Anti-Money Laundering Policy and assist all statutory authorities in investigations of suspicious activity.

10. Service access

10.1 While Transfermate endeavors to ensure that the website is normally available 24 hours a day and its Telephone Service is available during its usual trading hours or such hours as displayed on the Website, Transfermate will not be liable if for any reason the Website is unavailable at any given time or the telephone lines are interrupted. Transfermate agrees to use reasonable efforts to give advanced notice of any scheduled interruption.

10.2 Transfermate is 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 the Transfermate Transaction Service to you and you recognize that Transfermate can only rely on those suppliers pursuant to their individual terms and conditions and respective service level agreements but Transfermate will not however be responsible for any loss of any nature caused to you as a result of difficulties with any of the Transfermate suppliers.

11. Risks, Cancellation Policy and Telephone Contracts

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

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

11.3 The foreign exchange services contained within the Transaction Service requires physical delivery of funds to the designated Transfermate nominated client funds holding account and accordingly is suitable only for customers who are able to deliver, on the Settlement Date, the currency they have agreed to buy from Transfermate. 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 Transfermate, then we will close out the payment order at its then prevailing market rates and any loss or costs incurred by Transfermate 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.

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

11.5 The foreign exchange Transactions undertaken by you, using the Transaction Service, are pursuant to an individual Contract made between you and Transfermate, and is not transferable, negotiable or assignable to or with any third party.

11.6 Transfermate will accept Market Orders between the hours as stipulated on the 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 Transfermate, confirmation of the Market Order will be sent to you. Once a Market Order has been executed by Transfermate a Market Order Contract Note will be sent to you. The exchange rate may fluctuate throughout the ordering process. Market Orders are only ever accepted from you on a best endeavours basis.

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

11.8 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 which you accept 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 honored. Therefore 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.

12. Intellectual Property and Limited License

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

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

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

12.1.3 Transfermate's copyright and trade mark notices appear in all copies.

12.2 The names, images and logos identifying Transfermate, their products and services, are proprietary marks of Transfermate. 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 Transfermate. For the purposes of these terms, any use of extracts from the Transaction Service other than in accordance with clause 12.1 for any purpose, is prohibited. Breach of these terms will result in immediate termination of your trading account whereby you must on request from Transfermate immediately destroy any downloaded or printed extracts from the Transaction Service.

12.3 Subject to clause 12.1, 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 Transfermate's prior written permission.

12.4 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.

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

13. Disclaimer

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

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

13.3 The material on the 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, Transfermate provides the Transaction Service on the basis that Transfermate excludes all representations, warranties, conditions and other terms (including, 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.

14. Liability

14.1 Transfermate, any other party (whether or not involved in creating, producing, maintaining or delivering the Website), and any of Transfermate's 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 (including 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, and 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 the Website or the Telephone Service, any websites linked to the 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 the Website or downloading of any material from the Website or any websites linked to the Website.

14.2 Nothing in these Terms will exclude or limit Transfermate's liability for:

14.2.1 death or personal injury caused by negligence, or

14.2.2 fraud; or

14.2.3 Misrepresentation as to a fundamental matter; or

14.2.4 any liability which cannot be excluded or limited under applicable law.

14.3 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.

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

14.4.1 any Transaction conducted using your username and password; or

14.4.2 any suspension, withdrawal or termination of your access to Transfermate's Transaction Service; or

14.4.3 interruptions to the Transfermate's Transaction Service.

14.5 You indemnify and hold Transfermate harmless against any and all loss suffered by Transfermate, which may result from your misuse of Transfermate's Transaction Service or breach of these Terms.

14.6 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 Transfermate's control and Transfermate will incur no liability.

15. Market Information

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

15.2 Transfermate does not guarantee the accuracy, timelessness, completeness or correct sequencing of the market information. Transfermate reserves the right to discontinue offering market information at any time without notice.

16. Foreign Exchange Rates

16.1 The facilities offered on Transfermate's Transaction Service include real time instantly tradable rates. Without limiting the foregoing, "realtime" rates viewed on the Website regarding 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 Transfermate may in its sole discretion decline to complete Transactions based on such erroneous rates and will notify you as soon as possible after it determines not to complete any such Transactions requested under your username and password. In all such cases Transfermate will justify such actions.

17. Cancellation of Access

17.1 Transfermate may suspend or withdraw your access to the Transfermate Transaction Service at any time without prior notice if:

17.1.1 You have breached these terms or have acted fraudulently.

17.1.2 Transfermate learns:

(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.

17.1.3 Transfermate otherwise deems such suspension or withdrawal necessary or appropriate, in its sole discretion.

17.2 You may cancel your access to the Transfermate Transaction Account at any time by giving Transfermate 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.

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

18. Redress and Complaints Procedure

1. Where a complaint is received by us, we will record the nature of the complaint and issue an acknowledgement letter to you within 5 business days of receiving the complaint. The acknowledgement will provide you with the contact name that is responsible for dealing with the complaint. If the matter concerns a dispute over instructions to place an order over the telephone, you will be entitled to receive a transcript of the telephone call confirming the precise instructions given and received.
2. We will investigate the 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.
3. We will try to resolve the complaint within 40 business days of having received the complaint. If the 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.
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 the complaint.
5. If at any time you express that you are unsatisfied with the handling of their complaint or we cannot resolve the complaint with the 40 Business days timeframe, you will be notified of your right to refer the matter to the Financial Services Ombudsman’s Bureau.

Financial Services Ombudsman’s Bureau 3rd Floor, Lincoln House, Lincoln Place, Dublin 2
Telephone 1890 88 20 90
Fax (01) 662 0890
Email
Web www.financialombudsman.ie

19. Governing law and jurisdiction

19.1 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 Transfermate elsewhere in the world.

19.2 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 the Transfermate 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.