Global Account Terms and Conditions

These Terms and Conditions are for the Payment Services and  of Electronic Money (“E-Money”) as issued by Currenxie UK Ltd (“us” or “we” or “our” or “Currenxie”), an authorised Electronic Money Institution (“EMI”) authorised by the Financial Conduct Authority (“FCA”) to issue electronic money (FRN 901010) under the Electronic Money Regulations 2011 (EMRs 2011) and provision of other payment services under Payment Services Regulations 2017 (PSRs 2017). Currenxie UK Ltd is incorporated under the laws of the United Kingdom, registered with company number 11014021 and address at 1st Floor Nicholas House, 3 Laurence Pountney Hill, London, United Kingdom, EC4R 0EU.

The Global Account is offered by Currenxie UK Ltd or any of its corporate affiliates worldwide. The Global Account is a business account which enables you to receive funds and to make outward payments in accordance with applicable law and our internal policies. Your use of the Global Account is governed by the following Terms and Conditions and all policies and disclaimers provided herein (collectively, the "Terms"). “You", "your", and “Client” mean the person, persons, or entity receiving the account service as provided for in these Terms. In this agreement, “Currenxie”, “we”, "us" or "our" refers to Currenxie UK Ltd or any of its relevant corporate affiliates. 

References hereinafter to the “Parties” are a reference to You and Currenxie.

These Terms and Conditions for payment services and the use of electronic money (the “Terms”), and each of the documents we refer to in them, are part of our standard client agreements. These create a legally binding agreement between you, as our client, and Currenxie. For your own benefit and protection, You should read these Terms and each of the documents we refer to, carefully before accepting them. If you do not understand any parts of these terms, please ask for further information.

ANY APPLICATION, ACCESS OR USE OF THE GLOBAL ACCOUNT IS DEEMED TO BE ACCEPTANCE OF, AND FULL UNDERSTANDING OF THESE TERMS BELOW, INCLUDING OTHER TERMS AND POLICIES PUBLISHED BY CURRENXIE. 

Failure to comply with any of the terms listed below may be deemed a material breach of your agreement with Currenxie. This may lead to the termination of your Global Account and your rights to use any of the Services provided by Currenxie will be withdrawn.

You can contact Currenxie at its registered offices, which are at 1st Floor Nicholas House, 3 Laurence Pountney Hill, London, United Kingdom, EC4R 0EU, or by email at: support@currenxie.com.

Definitions

The words below shall be defined as follows:

“AML” means Anti-Money Laundering. 

“Applicable Law” means all relevant laws, regulations, rules, and legal precedents that determine how this contract must be interpreted and enforced.

“Authorised Person” or “Authorised User” means those individuals who have been given access to the Platform besides the first individual to apply for a Global Account. 

“Bank” means any licensed financial institution or overseeing body (e.g. NACHA, SEPA) that may be necessary to facilitate your instructions or hold your funds according to applicable law. 

“CDD” means Customer Due Diligence which encapsulates the information that we seek from you to verify your identity. 

“Data Protection Law(s)” means (i) the Data Protection Act 2018 (DPA 2018) and the UK General Data Protection Regulation (UK GDPR) as and if applicable during the term of these Terms; (ii) any other laws, regulations and secondary legislation enacted from time to time in the United Kingdom relating to data protection, the use of information relating to individuals, the information rights of individuals and/or the processing of Personal Data, and any UK statute which implements any provisions of the same; and (iii) any guidance or codes of practice issued by the Information Commissioner’s Office (“ICO”) from time to time (all as amended, updated or re-enacted from time to time, and as and if applicable during the term of these Terms).

“Dormancy” means the state of your Global Account where no outward payments are made for 12 (twelve) consecutive months. 

“E-Money” or “Electronic Money” means monetary value as represented by a claim on the issuer which is stored electronically or magnetically.

“Fee” means each and any deduction or charge payable by you to Currenxie.

“Force Majeure” means an unforeseeable and uncontrollable defect or malfunction of any machine, system of authorisation, data processing or communication system or transmission link, any industrial dispute, war, Act of God or anything outside the control of a Party, its service providers or its agents, which makes it impossible for either Party to perform their obligations under these Terms. 

“Global Account” means a Currenxie operated business account on Currenxie’s Platform which enables you to receive funds from selected companies, screened individuals, and commercial enterprises and to make outward payments to approved recipients.

“Payment Instruction” means any directive to Currenxie for the transfer of funds within our control or the instructions given to another financial institution. 

“Platform” means Currenxie’s proprietary software and user interface where our services are hosted for your use. 

“Prohibited Transaction(s)” means receiving or sending funds in connection with activities, items, services, people, businesses, or countries regarding which Currenxie will not facilitate any transaction. 

“Relevant Funds” mean sums held in segregated accounts with authorized credit institutions to separate them from Currenxie’s own assets, as required and within the scope of the Payment Services Regulations 2017 and Electronic Money Regulations 2011.

“Safeguarded Account" means a segregated account that holds the monetary value of your Relevant Funds and is kept separately from our operational accounts. 

“Transaction” means any financial operation that results in a transfer of Client’s funds to and from the Global Account or the exchange of currencies within the Global Account.

1. Services Currenxie Provides

1.1 We will provide you with a Global Account on a user interface referred to as the Currenxie Platform (“Currenxie Platform”). The Global Account is available for use together with unique identifying bank account numbers that may be issued to you by Currenxie in conjunction with Currenxie’s banking partners. 

Your Global Account must be used purely for transactions of a commercial nature and related to your business.

1.2 Redemption of E-Money

Currenxie provides bank account numbers within the Global Account. Funds cannot be withdrawn directly from these bank account numbers. All transfers of funds must take place from within your Global Account.  Attempts to initiate a transfer of funds from the Global Account except via the Currenxie platform will be rejected.  Any unauthorised direct withdrawal from an underlying account will result in a request for the immediate return of funds and may result in the termination of your Global Account and legal action if necessary.

1.3 A payment advice will be available to you on the Platform once the Payment Instruction has been submitted successfully. The advice will include the beneficiary’s name, currency, amount of payment, the payment date, and any relevant payment references. Global Account statements are available via the platform, but you will not receive account statements or other documents by mail.

1.4 Cash deposits and cheques are not supported under the Global Account. 

1.5 Usage Obligations and Restrictions

1.5.1 You will be able to use our Services immediately upon your Global Account opening and activation.

1.5.2 Unless otherwise provided by these Terms or Applicable Law, all Transactions are non-refundable, irrevocable, and cannot be changed after being executed.

1.5.3 Any Payment Instruction must contain all information required by Currenxie’s platform in order to execute the Transaction.

1.5.4 Currenxie reserves the right to seek additional confirmations about any Payment Instruction from you prior to executing the Transaction. Currenxie may ask for additional confirmation before processing a Transaction.

1.5.5 Currenxie shall have the sole discretion to decide if the Client complies with Currenxie’s internal rules and policies for executing a Transaction from the Global Account or receiving Transactions to the Global Account, and shall have the right to block a Transaction in case such requirements are not met. 

1.5.6 It is your responsibility to check the appropriateness of all your clients and payees that will transfer funds to or will receive funds from the Global Account. 

1.5.7 Currenxie has a right, at its sole discretion, to refuse to execute any Payment Instruction or Transaction when execution of such Payment Instruction or Transaction violates, or could violate, any Applicable Law. In case of such circumstances, Currenxie may have a respective legal duty set in the Applicable Laws to inform the competent authorities thereof. Currenxie will not be liable to the Client or any third party for the execution of its right under this Clause. 

1.5.8 Currenxie is entitled to suspend and freeze any amount of an incoming Transaction onto the Global Account due to the origin of the funds. Currenxie is likewise entitled to refuse such incoming Transaction and return the funds to the sender, or to request any additional document or evidence in order to justify the origin of the funds. For the avoidance of doubt, Currenxie will not assume any liability to the Client or any third party for its actions based on this Clause. 

1.5.9 Currenxie does not assume any liability to the Client or any third party for any consequences attributable to the time of the execution of the Transaction by the Banks and by other financial or credit institutions. 

1.5.10 Currenxie, at its discretion, may suspend any Transaction, without giving any reason and without liability, when a Transaction is suspended under instruction of a public authority or when such Transaction must be suspended due to the requirements of any Applicable Laws. For the avoidance of doubt, Currenxie will not assume any liability to the Client or any third party for suspension of a Transaction based on this clause.

1.5.11 The Client is responsible for the accuracy of information submitted to Currenxie with the Payment Instruction and must not withhold or omit any information that would render those details false or inaccurate. The Client undertakes to notify Currenxie immediately and with no delay if it becomes aware of any error or omission, or if any relevant information given to Currenxie has changed in any way that might affect the Payment Instruction. You must ensure the accuracy of information submitted with orders and notify Currenxie of any changes.

1.5.12 Payment Instructions from your Global Account validly submitted are irrevocable, unless it has not been processed yet by Currenxie.

1.5.13 Currenxie is entitled to set transaction thresholds in respect of your Global Account and each of the potential Transactions. 

1.5.14 If you provide erroneous information (for example, you give us the wrong account details) and your funds are sent to the wrong account as a result, we will not be liable to you for any loss or have an obligation to recall the funds.

1.5.15 If your funds are sent to the wrong account as a result of an error made by us, we will take actions at our own expense to recover those funds, provided that you take prompt and reasonable steps to assist us in recovering any such funds if the mistaken recipient is related to you or associated with you in any way.  We will not be liable to you if the recipient bank makes an error in its own application of funds.

1.5.16 All payments received are pre-screened by Currenxie prior to crediting them to your Global Account. Currenxie reviews all payments received and may choose to either approve or reject each payment at its sole discretion. Currenxie reserves the right to reject, return, or hold funds received from sources which are not acceptable to us as dictated by our compliance policies. Payments can be rejected for any reason, including but not limited to reasons related to compliance with Anti-Money Laundering regulations or any other compliance policies. When rejecting or returning a payment Currenxie will be under no obligation to disclose the reason for the rejection or return.

1.5.17 Currenxie at its sole discretion has a right to unilaterally block the access to the Platform and/or block the funds to be sent by or on behalf of the Client from the Global Account and/or return the funds sent to the Global Account to the respective sender in case of suspected illegal or fraudulent activities, non-compliance with these Terms and/or due to legal requirements. In case of such circumstances, Currenxie may have a respective legal duty set in the Applicable Laws to inform the competent authorities hereof. Currenxie will not be liable to you or any third party for the execution of its rights or obligations under this clause.

1.6 The time it takes for payments to reach Currenxie is not under the control of Currenxie. All payments sent are also subject to the terms and conditions of the entity sending the payment. Any issues or disputes associated with such terms and conditions should be resolved directly with the paying entity and are not the responsibility of Currenxie.

1.7 Any costs and expenses associated with rejected or returned payments shall be borne by you. If a payment is rejected or returned for any reason, fees may be charged by the bank returning or rejecting the payment. Currenxie will not be held responsible for any fees incurred in connection with payments that are rejected or returned. In no event will Currenxie be liable for consequential damages (including lost profits), extraordinary damages, special damages, or punitive damages. Currenxie reserves the right to charge your account with associated processing fees that may be incurred.

2. Client Application and Customer Verification 

2.1 Application Form

The Global Account onboarding requires the Client to submit an application form, documents, and Personal Information set by Currenxie. To become a Client, the prospective Client must provide all information requested at the application stage of the Global Account opening and for any third party providers. 

2.1.1 You must not provide any false, inaccurate, incomplete or misleading information. You may only open a Global Account with Currenxie if it is legal to do so in your country of residence. 

2.1.2 You represent and warrant to Currenxie that your application to open or operate a Global Account with Currenxie does not violate any Applicable Law. 

2.1.3 At Currenxie’s discretion, a Client who has not provided all the required documents requested upon application may have limited use of our Services. Upon receipt of all the documents listed, and provided that they are deemed satisfactory by Currenxie, such limitations may be lifted. 

2.1.4 We may update these CDD requirements over time.

2.2 You must advise Currenxie promptly of any change to your contact details or other information provided to us, in the interests of security (including name or address), and provide appropriate supporting evidence as required by Currenxie. 

2.3 You confirm upon submission of Your application with Currenxie, including for a corporate entity, that:

(a) You are at least 18 (eighteen) years old;

(b) You are legally competent and authorised to agree to these Terms as an individual or as a representative of a corporate entity;

(c) You are acting on your own accord without any undue influence; and

(d) all information that you provided during registration is true, accurate, and up-to-date.

2.4 Additional Documents

It is expressly provided that Currenxie retains the right to request additional documents, including about any Payment Transactions after the Global Account is operational.

2.6 Verification Requirements

You must pass our identity and security checks to use our Services. You consent to Currenxie sharing and verifying your information with credit agencies, CDD providers, and keeping records as required by law. You agree to this and will ensure any authorised Persons also consent.

2.7 Anti-Money Laundering Measures

We may request additional information to prevent money laundering and terrorist financing. If the documents you provide are unsatisfactory, we can suspend your Global Account access. We may also ask authorised Persons to verify their identity via video calls.

2.8 Information Accuracy and Updates

All information must be accurate and up-to-date. If we cannot verify it, we might deny access to your account or close it. You must inform us of any changes within 14 days.

3. Fees and Charges

3.1 The Fees for your outward Transactions will be available to you prior to execution. We may also charge receiving fees depending on the nature of your Transaction. Currenxie is entitled to debit your Global Account at any time in respect of any sum due and owed to Currenxie by you, whether in respect to Transaction, Fees, or otherwise, and notwithstanding that the Global Account would be overdrawn as a result. 

3.2 We reserve the right to change our Fees and will provide requisite notice of such change.  The continued use of our Services will indicate acceptance of those changes.  

3.3 The compensation for the Services rendered under these Terms shall be deducted by Currenxie in accordance with the then-applicable Pricing List.

3.4 All payments made by the Client under these Terms shall be free from and without set-off, withholdings, counterclaims or deductions whatsoever. Currenxie shall make all payments due to the Client under these Terms in full unless required by law to make deductions including, without limitations, deductions or withholdings in respect of any taxation liabilities. 

3.5 Your funds held in the Global Account may be appropriated or set off by Currenxie to cover any loss Currenxie may incur due to any material breach of these Terms. The Client shall be solely responsible for satisfaction of all commissions, fees, expenses, liabilities and losses incurred by Currenxie due to the placed Payment Instruction or Transaction processed in accordance with instructions provided by the Client.

3.6 In the event the Client fails to make any payments due to Currenxie, the Client shall pay interest in the amount of 0.2% per day until payment of the overdue amount. 

3.7 Specific Fees

There are specific fees which are charged in addition to non-standard actions or types of account usage. This includes, but is not limited to, additional charges for sending Chinese Yuan Renminbi, payment collection for companies operating in specific industries, payment collection for offshore registered companies, and other fees. Should you request additional services (such as any additional payment accounts, audit confirmations, some specific industries, or additional currencies) you will be charged additional Fees either pursuant to the then-applicable pricing list or as informed from time to time. These Fees are updated from time to time and can be found in our Schedule of additional and non-standard fees. 

4. Safeguarding of Funds

4.1 Segregated Accounts

We receive and hold Relevant Funds received for you in Segregated Accounts. These funds are not used for any other purpose besides facilitating your transactions and do not accrue interest for you. They are kept separate from our operational accounts and are protected, by law, in the event of our insolvency. 

4.2 Insolvency Protection

Relevant funds are safeguarded in a credit institution authorised by the Prudential Regulation Authority, ensuring your protection in the unlikely event of our insolvency.

4.3 Safeguarding Disclosure 

In those regions not requiring the use of a Safeguarded Account, we will not put your funds in trust, nor will we necessarily put your funds in a Safeguarded Account. For further information on Safeguarded Accounts, please visit our Safeguarding Disclosure. 

4.4 Use of Group Entities

As required by your instructions, relevant Currenxie entities may be processing or collecting your inward or outward payments. They are bound by the relevant terms and conditions contained herein, but ultimately subject to applicable laws and regulations of those jurisdictions. 

5. Security and Protection

5.1 Data Protection

We use subcontractors, bound by Applicable Law, to assist in processing your application. During registration and Transaction processing, we transfer data related to you to the third parties associated with Transaction execution. An explanation of which sub-processors have access to your Personal Information and what they use your information for  is listed in the Data Processing Agreement below. If you disagree with any third parties receiving your Personal Information, please do not submit an application to open a Global Account.

5.2 By agreeing to these Terms, you acknowledge and consent to data processing procedures. More details about how we process your data are available on our Privacy Policy page. Currenxie may ask you to provide "Personal Information" in connection with your use of the Global Account. “Personal Information" means personally identifiable information such as your email address, name, mailing and/or billing address, telephone number, mobile phone number, government ID number and your bank account information including information regarding your transactions. You agree to provide accurate, current, and complete information required in the course of applying for and using the Global Account and you agree that Currenxie may share your Personal Information or other information as detailed in the Privacy Policy.

5.3 You acknowledge and agree that, as outlined in our privacy policy, Currenxie retains the right to access and disclose your personal data to ensure compliance with all applicable laws and to respond to lawful requests from government and regulatory authorities, partner banks, and partner payment companies. This right also extends to protecting Currenxie, its clients, and other users. Additionally, Currenxie may disclose your personal data to third parties if there is reasonable cause to believe that your use of the Global Account violates these terms, or if Currenxie is otherwise obligated or required to disclose such information to relevant authorities.

5.4 Currenxie uses a third party, Sumsub, to process identity checks. By continuing to use this service, you confirm that you have read, understand and accept Sumsub’s Terms and Conditions and Sumsub’s Privacy Notice.

5.5 The parties hereto agree and acknowledge that for the purpose of Data Protection Laws the parties shall follow the provisions of Annex 1 : Data Protection Agreement contained below.

5.6 Closing your Global Account does not mean that we delete the personal data that we hold on you and we will continue to store such data, including the history of your Transactions for a minimum period of 5 (five) years as required by law.

5.7 Personalised Security Credentials

Currenxie will never ask you to provide your password to us or to a third party. Please contact Customer Support at support@currenxie.com or call +44 20 4572 5445, if anyone asks for your password. Never disclose your Global Account password to any third party. You must make sure that the password for your Global Account is unique, random and not used for any other website or application. Keep your password safe in  a password manager or other secure storage. Do not ever let anyone other than yourself access your Global Account or watch you access it. Do not access your Global Account on a public, or shared device.

5.8 We will only contact you using your email address or phone number that has been registered with us. You must make sure that your email account(s) are secure and are only accessed by you. Let Customer Support know immediately if your email address becomes compromised or if your phone number changes. If you suspect your Global Account, login details, password or other security feature is stolen, lost, used without authorisation, or otherwise compromised, you are advised to change your password immediately.

5.9 Never use any functionality that allows login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded.

5.10 It is your obligation to regularly check the transaction history of your Global Account. Contact us immediately in case of any unauthorised, incorrect, or misdirected transaction, or if you suspect that your Global Account has been compromised.

5.11 We may suspend your Global Account or otherwise restrict its functionality if we have concerns about the security of your Global Account or any of its security features.

5.12 We will notify you of any suspension or restriction of your Global Account and of the reasons for such suspension or restriction as soon as we can unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.

5.13 Currenxie has no obligation to maintain your Global Account name or password. Currenxie shall not be liable to you if you misplace, forget, or lose your Global Account name or password because of anything, other than Currenxie’s gross negligence or wilful misconduct. 

5.14 Liability for Unauthorised Transactions

You are liable for any losses from unauthorised transactions if you have acted fraudulently, been defrauded, or have failed to use your Global Account as per these Terms.

5.15 You must keep your account details, passwords, and security information confidential and not share them with anyone. If someone else accesses your account by passing security checks, Currenxie may consider their transactions valid and authorised by you, and you will be responsible for any resulting losses.

5.16 Authorisation of Transactions

Your Global Account access will be protected by a security mechanism to ensure your Global Account is protected from unauthorised access and use. A Global Account access authorisation shall include a username, a password and a second factor, such as a SMS verification, that will request you to enter an SMS-code sent by Currenxie each time you access your Global Account. You must make sure that only you have access to each of these. If you believe any of these have been compromised, you are advised to contact our Customer Support at support@currenxie.com or call +44 20 4572 5445.

5.13 Authorised Users

5.13.1 You can allocate permission to access the Currenxie Platform to individuals within your company. 

5.13.2 You are solely responsible for any individuals whom you have given the authority to access or use the Currenxie Platform. You may permit such Authorised Users to apply, access, and use the Currenxie Platform. 

5.13.3 You will be liable for all acts and omissions of such users, whether or not such users have acted in accordance with your instructions. You hereby acknowledge that you remain fully and exclusively liable as to the content, accuracy, authenticity and completeness of the documents and Payment Instructions that you transfer to us or via the Platform. 

5.13.4 You have full responsibility to notify Currenxie immediately of any suspected unauthorised access or use of the Currenxie platform or breach of its security. You have a duty to maintain the confidentiality of login credentials, passwords or other such information relating to the Currenxie platform. 

5.13.5 You undertake to provide the requested information regarding all your Authorised Persons upon them receiving access to your Global Account.

5.14 Prohibited Transactions

Currenxie cannot provide any service for Prohibited Transactions. For a complete list of Prohibited Transactions, please visit our Prohibited Transactions page. 

5.14.1 Currenxie strictly prohibits using the Global Account while impersonating any person or entity or while falsely claiming an affiliation with any person or entity.

5.14.2 Should you be unsure whether or not your business or products or services fall under any of the above-prohibited activities please contact us and we will review your specific circumstances and advise you.

5.15 Restricted Countries

We do not accept inward or outward payments to countries on our restricted countries list.  Please note that this list is updated from time to time and is available on our Help Centre. 

6. Termination and Dormancy

6.1 Termination

You may terminate these Terms at any time, without charge, by notifying us in writing or by email. Each Party is entitled to terminate the Terms with a prior 90 (ninety) days written notice given to the other party.

We may suspend the Global Account and the access to your Global Account, including access to the funds in your Global Account, if:

- you have violated any of the Terms (or any other applicable Currenxie terms);

- you have provided any false, incomplete, inaccurate, or misleading information;

- you have engaged in fraudulent or illegal conduct;

- there is a reasonable suspicion of fraudulent or criminal activity;

- we are required to do so under any applicable law or regulation, or at the direction of any regulatory, law enforcement or other competent authority;

- you threaten or are abusive to our staff;

- you become bankrupt or insolvent or appear to be the subject of an insolvency event.

- you do not provide information upon the request of Currenxie or the information provided does not meet Currenxie's requirements;

- you fail to make any payment which is due in accordance with these Terms;

- these Terms becomes unlawful for Currenxie to perform for any reason, including without limitation if we need to do so to comply with the law or with a subpoena, court order, order or request of law enforcement or other government or regulatory agencies/authorities;

- use of your Global Account is subject to any pending litigation, investigation, or government proceeding or Currenxie perceives a heightened risk of legal or regulatory non-compliance associated with your Global Account activity;

- you are likely to become unable to pay its debts as they become due or have a bankruptcy petition presented against or any of the events specified above or anything analogous to them occurs under the laws of any applicable jurisdiction;

- Currenxie in its sole discretion decides that you no longer fall within Currenxie’s risk appetite;

- Currenxie believes that you adversely affect its reputation;

- you breach representations and warranties provided in these Terms;

- we reasonably believe that your Global Account is associated with any account that has been suspended or terminated for breach of these Terms or suspended for any other reason;

- due to a Force Majeure event

- your Global Account is in Dormancy;

- you take any action that we deem as circumventing our controls;

- you attempt to gain unauthorised access to the Platform or another customer's Global Account or provide assistance to others attempting to do so;

- Currenxie is concerned about the security of your Global Account;

- we suspect your Global Account is being used in an unauthorised manner, including without limitation, by an Authorised User; and

- you become aware of any legal action or investigation against you with any relation to your Global Account, but fail to give Currenxie notice.

6.2 Upon termination of the Terms, Currenxie will deduct any outstanding Fees and you are required to immediately transfer the remaining funds from the Global Account elsewhere. 

6.3 When your Global Account is closed, it cannot be used. You will remain liable for all obligations relating to your Global Account even after your Global Account has been closed. 

7.4 Dormancy

If you wish to reactivate a Dormant Global Account, you will need to agree to the reactivation fee listed in our Schedule of Additional and Non-standard Fees on the date reactivation is requested. Your fee is only deducted upon successful reactivation predicated on our approval, which may require updated CDD documents. If there are no funds in the account at the time of requesting reactivation, the fee will be deducted from the next incoming Transaction. The Global Account becomes active as soon as Currenxie agrees to reactivate the Global Account.

8. Intellectual Property

8.1 You must not: (i) copy, interfere with, tamper with, redistribute, publish, reverse engineer, decompile, disassemble, amend, modify, translate or make any attempt to access any of our source code to create derivative works of the[our] source code, or otherwise; (ii) sell, assign, sublicense, transfer, distribute or lease the Platform; (iii) make the Platform available to any third party (except Authorised Users) through a computer network or otherwise; (iv) export the Platform to any country (whether by physical or electronic means); or (v) use the Platform in a manner prohibited by any laws or regulations which apply to the use of the Platform (“IP Infringements”).

8.2 You will be liable for any damages, costs, or expenses incurred by us or our licensors if you engage in any IP Infringement. You must notify us promptly if you become aware of any IP Infringements and provide reasonable assistance with any subsequent investigations.

8.3 You will be responsible for any damages or costs we incur due to those IP Infringements. You must inform us immediately if you discover any third party IP Infringements, and help us investigate if needed.

8.4 Unless it is necessary to view the information on the Platform, or as allowed by applicable laws or these Terms, you are not permitted to reproduce, adapt, upload, link to, frame, perform publicly, distribute, or transmit any content from the Currenxie website or Platform in any form without obtaining specific written permission from Currenxie.

9. Taxes

9.1 You are responsible for reporting to tax authorities and paying any applicable taxes related to your business activities. Currenxie does not provide tax advice on transactions or the use of the Global Account. It is your responsibility to determine if currency fluctuations have tax implications in your home jurisdiction. By using the Services, you agree not to hold Currenxie liable for any tax liabilities arising from your use of the Services.

9.2 You confirm that you comply with all applicable laws, including tax laws. You are responsible for paying all required taxes and government charges in each jurisdiction applicable. 

10. Indemnification

10.1 You must indemnify Currenxie from any costs or losses arising from claims related to your actions. You will indemnify and hold Currenxie, its affiliates, shareholders, directors, employees, and representatives harmless from and against any and all costs, liabilities, losses, and expenses (including, but not limited to, reasonable attorneys’ fees and fees of experts) arising out of any claim, suit, action or proceeding initiated by you against a third party or by a third party against you. 

11. No Warranty 

Currenxie does not guarantee that its services will meet your needs or be error-free to the maximum extent permitted by Applicable Law.  

12. Limitation of Liability 

12.1 General Liability 

To the maximum extent permitted by Applicable Law, in no event will Currenxie, its affiliates or their respective service providers, or any of our respective officers, directors, agents, joint venturers, employees and their representatives, be liable to you or anyone on your behalf, for any direct, consequential, indirect, incidental or special damage or loss of any kind whatsoever; or any loss of business, profits, revenues, contracts or anticipated savings; and/or loss or any damage arising from your use of the Services, Platform, or our website. Currenxie shall not be liable for the loss of profit or other benefits (lucrum cessans) that Client would have had if the damage had not occurred.

12.2 Currenxie, its affiliates, agents, representatives, directors, officers, or employees, shall not be liable if it is unable to perform its obligations under these Terms due, directly or indirectly, to a Force Majeure event.

12.3 Currenxie, including its affiliates, shareholders, directors, employees and representatives, is not responsible for damages or losses caused by your misuse of the services, mistakes, negligence, missing documentation, or fraud. 

12.4 In no event will Currenxie, its affiliates, shareholders, directors, employees and representatives be liable to the Client or any third party for any damages, whether direct or consequential, losses, liabilities, costs and expenses incurred by the Client arising out of or resulting from any misuse of the Services and/or the Platform by the Client, any mistake or negligence from the Client, any failure or omission on the Client's side, any missing documentation despite our request, any fraud or attempt of fraud, any upset of the Platform due to telecommunication connections, any Force Majeure event, or any other cause of action or claim that does not directly result from a fault of Currenxie in the performance of the Services.

12.5 Currenxie is not liable for funds transferred based on your orders. Currenxie does not assume any liability to the Client or any third party for the funds that have been transferred from the Global Account based on a good faith Payment Instruction.

12.6 Maximum Liability

If Currenxie is found to have acted wrongly, their maximum liability is limited to the Fees (except those used for foreign currency exchange) you paid in the six months before the incident. 

If you have fallen victim to Authorised Push Payment (APP) fraud, you may be eligible for reimbursement. Eligibility criteria applies. Currenxie shall not be liable for losses if the Client fails to provide accurate and timely information.

12.7 Client Responsibility

You are solely responsible for any losses or damages caused by your breach of this agreement or violation of laws. The Client shall indemnify and hold Currenxie harmless against any loss or damage (including costs) that may be awarded or agreed to be paid to any person in respect of a claim or action arising of (i) any breach of the Terms or (ii) violation of Applicable Law.

13. Modification of terms and services

13.1 These Terms are effective until amended with sixty (60) days notice or terminated before the effective date of those modifications. We reserve the right to change the Terms including any applicable Fees.

13.2 We reserve the right to cease offering the Global Account at any time. You are responsible for regularly reviewing the Terms and notifications from Currenxie either on its website or your registered email account.

13.3 Continued use of the Global Account after any changes to the Terms shall constitute your consent to such changes. You may stop using the Global Account at any time.

14. Severability

If any part of these Terms is found to be invalid or unenforceable, the remainder of the Terms will still apply. 

15. Entire Terms

These Terms contain the entire agreement and supersede all prior and contemporaneous understandings between the parties regarding the Services. In the event of any conflict between these Terms and any other agreement you may have with Currenxie, these Terms shall prevail.

16. Waiver

If Currenxie delays in fulfilling an obligation or exercising a right under these Terms, it does not equate to that obligation being waived or that right given up.

Partial fulfillment of an obligation or exercise of a right does not prevent further action on that obligation or right.

17. Force Majeure

Neither party shall be liable for any inaccuracy, error, delay in, or omission of the transmission or delivery of information; or any loss or damage arising from any Force Majeure event.

18. Assignment

You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Currenxie, including by operation of law or in connection with any change of control. Currenxie may assign or transfer any or all of its rights or obligations under these Terms, at its sole discretion, in whole or in part, without obtaining your consent or approval.

19. Outsourcing

Subject to Applicable Law, Currenxie may outsource any or all of the Services it provides under these Terms to third parties.

20. Survival

Clauses “Fees and Charges”, “Indemnification”, “Security and Protection”, “Right of Withdrawal and Cooling-Off Period”, “Limitation of Liability”; “Intellectual Property”, “Taxes”; “Termination and Dormancy”, “No Warranty”, “Governing Law and Jurisdiction” shall survive any termination of these Terms.

21. Consumer Rights 

Your rights and a large part of Applicable Law governing these Terms can be found in the Payment Services Regulation 2017, Electronic Money Regulation 2011, Consumer Rights Act 2015, and Unfair Terms in Consumer Contracts Regulations 1999, Digital Markets, Competition and Consumers Act 2024. If you have any questions about your legal rights, you may contact legal@currenxie.com or consult independent legal advice. 

22. Risk Disclosure

22.1 You acknowledge that Currenxie does not provide financial or investment advice related to its services. Any communication with Currenxie should not be considered as investment advice. 

22.2 You confirm that you have independently assessed the risks and made your own evaluation of every Transaction’s merits and risks.

22.3 You also confirm that you have sufficient knowledge and experience to make financial decisions and have received professional advice, if needed.

22.4 Your use of the Global Account is at your own risk. The Global Account is provided on an "as is" basis without warranties of any kind. Currenxie hereby disclaims all warranties, either express or implied, including but not limited to warranties of merchantability and fitness for a particular purpose.

22.5 If you believe that your personal circumstances make you vulnerable to harm via the services provided by Currenxie, or face difficulties either temporarily or permanently in regards to financial decisions via your Currenxie Global Account, we encourage you to reach out to us at support@currenxie.com to explore how we may be able to support you.

22.6 Please note that the Global Account is not a bank account, and you should not attempt to use the Global Account as a bank account. Funds received on your behalf are not insured as they would be in a typical bank account.

22.7 Services provided by Currenxie are not covered by the UK Financial Services Compensation Scheme (“FSCS”). This means that in the event of Currenxie’s default, you shall not be entitled to compensation from the FSCS. Please refer to www.fscs.org.uk for more information.

23. Complaint Process 

20.1. If you wish to make a complaint about the Service, you can email Currenxie at complaints@currenxie.com, with brief details of the complaint and the email address associated with the Global Account. Also, please visit our Complaints page for more information. 

20.2. Once the complaint is received, Currenxie will initiate its formal complaint handling procedure. Currenxie will acknowledge your complaint upon receipt and provide a Final Response by email within fifteen (15) business days. Our response will contain details of the steps we took to address your concerns and if applicable, directions on how to refer the complaint to the Financial Services Ombudsman. Under certain circumstances, we may extend this period to thirty five (35) business days to provide you with a comprehensive response. Should this apply to your case, we will notify you of the extension within the original 15 business day period.

20.3. A complaint about any regulated aspect of the Service that Currenxie cannot finalize within 15 days (complaints about rights and obligations arising under Parts 6 and 7 of the PSRs 2017) or 8 weeks (complaints not related to rights and obligations arising under Parts 6 and 7 of the PSRs 2017) after the date of complaint may be referred to the Financial Ombudsman Service. Eligibility requirements, contact information, and further details can be found at www.financial-ombudsman.org.uk.

24. Dispute Resolution Process and Governing Law

24.1 The Framework Contract is governed by the laws of England and Wales. You and Currenxie agree to submit to the non-exclusive jurisdiction of the English courts.

24.2 Time Limit for Claims 

You have one year to make any claims related to the services. After that, the claim is invalid. You agree that the statute of limitations in respect of any claim or cause of action which you may have arising out or related to the Services and/or the use of the Platform shall be limited to one (1) year after such claim or cause of action arose. Any action passed that delay shall be barred.

25. Our contact details

25.1 Where we need to contact you under these Terms, we will do so by email, or telephone, using the details you most recently gave us. 

25.2 You must ensure that all information provided to us is accurate and up to date at all times.  You must inform us of any changes by emailing us as soon as practicable, and in any event within 14 days of the change.  If you do not, this may impact the services that we can offer you as you may miss notifications if we are sending messages to an old email address.

25.3 Where notice in writing is required under these Terms, it may be sent by email. Email is deemed to be received when it was sent provided no message of non-delivery was received by the sender.

25.4 You agree you will direct questions regarding the Global Account only to Currenxie. You agree you will not initiate direct contact with any bank that is involved in supporting the Global Account. 

25.5 You agree to contact Currenxie through official communication channels. These include email, phone, and by creating a support ticket from within the Global Account platform.

Currenxie UK Ltd, 1^st Floor Nicholas House, 3 Laurence Pountney Hill, London, EC4R 0EU.

Customer Support: support@currenxie.com

Legal Requests: legal@currenxie.com

Data Privacy Requests: dataprivacy@currenxie.com

Terms and Conditions for the Global Account version updated May 2025.

Annex 1 - Data Protection Agreement

1. Definitions

In this Data Protection Schedule, the following words shall have the following meanings.‍

“Controller”, “Process”, and “Processor” shall have the meanings given to them in the Data Protection Laws;

“Data Subject” means an individual who is the subject of Personal Data, including Authorised Users, as well as shareholders, directors, clients and payees of the corporate Client;

“Data Protection Laws” shall have the meaning given to it in the Terms;

“Personal Data” means information relating to an identified or identifiable natural person. An identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that person.

2. Compliance with Data Protection Laws

Currenxie UK Ltd is registered with the Information Commissioner's Office for UK GDPR and data protection purposes. Our registration number is ZA500233.

‍Each party hereto shall comply with the Data Protection Laws as it applies to Personal Data of Data Subjects processed under the Terms. This Section is in addition to, and does not relieve, remove or replace a party’s obligations under the Data Protection Law.

3. Data Processing

3.1 The parties agree and acknowledge that for the purpose of Data Protection Laws, Client will be acting as a data Controller and Currenxie will be acting as a data Processor in respect of the Personal Data of Data Subjects.

‍3.2 The Client is solely and wholly responsible for establishing and maintaining the lawful basis for the Processing of Personal Data of Data Subjects by Currenxie under the Terms in order to fulfil its obligations and with respect to including (where applicable) the obtaining of all necessary consents from Data Subjects.

3.3 The Processing of Personal Data to the extent necessary for the provision of the Services set out in the Terms between Currenxie and Client.

3.4 The duration for which Currenxie Processes Personal Data under these Terms extends throughout the term of the agreement and for any additional period specified in the Terms for data retention, if applicable. This duration also includes any longer period required to comply with Applicable Laws.

3.5 Such Processing is necessary to enable Currenxie to comply with its obligations to the Client under the Terms, pursue its legitimate interests, exercise its rights under the Terms, and to comply with its statutory obligations, including collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.

3.6 Currenxie receives Personal Data from or on behalf of the Client, including data provided directly by individuals or third parties. This data is collected either at the Client's request or when Currenxie is authorised by the Client or legally required to do so. The Personal Data processed under these Terms may include, depending on the services provided, details such as name, address, date of birth, gender, nationality, location, email address, billing address, country, user ID, telephone number, IP address, Global Account number, associated card information or alternative payment method identifiers, Personal Data related to individuals associated with the Client (including its past, current and future shareholders, directors and Authorised Persons), and Personal Data related to individuals purchasing goods and/or services from the Client or payees of the Client.

3.7 Obligations and rights of the Controller are set out in the Terms.

3.8 The Client acknowledges that Currenxie may create aggregated and anonymized data from Personal Data, ensuring that individuals cannot be identified from this data. This anonymized data may be used or shared with third parties for purposes such as billing, product development, testing, improvement, and responding to requests from public authorities

3.6 The Client and Currenxie agree to ensure that all staff are appropriately trained in line with their responsibilities under applicable Data Protection Laws.

‍3.7 Data protection enquiries should be addressed to Currenxie’s Data Protection Officer at dataprivacy@currenxie.com.  

3.8 In respect of the Personal Data Processed by Currenxie as a data Processor acting on behalf of the Client under the Terms, Currenxie shall:

‍a. process personal data based on the Client's written instructions, as outlined in these Terms. It may also process data to comply with legal obligations, notifying the Client if permitted by law. Additionally, Currenxie may process data for its legitimate interests, such as preventing fraud and maintaining security, unless these interests are overridden by the rights and freedoms of the data subject, particularly if the data subject is a child.;

b. implement appropriate technical and organizational measures to protect personal data from unauthorised access, loss, destruction, alteration, or disclosure. These measures will be based on the potential harm to individuals and will consider current technology and implementation costs;

‍c. ensure that persons engaged in the Processing of Personal Data are bound by appropriate confidentiality obligations;

‍d. keep a record of the Processing it carries out, and ensure the same is accurate;

e. promptly comply with the Client's lawful requests to access, copy, amend, transfer, or delete personal data, to the extent necessary for the Client to meet its obligations under Data Protection Laws, including responding to requests from individuals;

f. promptly inform the Client if it receives any complaints or notices related to Data Processing, Personal Data, or compliance with Data Protection Laws. Currenxie will also provide reasonable assistance and information to help the Client address these issues;

g. promptly notify the Client if it believes an instruction from the Client may violate Data Protection Laws. However, the Client remains responsible for ensuring the legality of its instructions and obtaining independent legal advice. Currenxie will also inform the Client if it cannot follow instructions due to legal requirements that make compliance with Data Protection Laws impossible;

h. ensure that before any sub-processor processes personal data, it enters into a written contract with that sub-processor that includes terms similar to those in this Data Protection Schedule;

i. only transfer the Personal Data outside of the European Union (including to the UK) if it has fulfilled one of the following conditions:

i. the Personal Data is transferred to a country approved by the European Commission as providing an adequate level of protection for Personal Data,

ii. the transfer is made pursuant to European Commission-approved standard contractual clauses for the transfer of Personal Data,

iii. or other appropriate legal data transfer mechanisms are used.

Personal Data may be transferred globally under the agreed arrangements. If the legal basis for ensuring adequate protection for these transfers becomes invalid, Currenxie will work with the Client to establish an alternative solution;

‍k. notify the Client promptly after ascertained, if any Personal Data processed under these Terms is lost, destroyed, damaged, corrupted, or accessed unlawfully.;

l. inform the Client promptly (and in any event within five (5) business days) if it receives a request from a Data Subject for access to that person’s Personal Data;

m. provide reasonable assistance to the Client in responding to requests from individuals and in helping the Client comply with its data protection obligations, including security measures, breach notifications, impact assessments, and consultations with regulatory authorities;

n. at the end of the processing period, Currenxie will delete or return the Personal Data to the Client and destroy any existing copies. However, this may not apply if there are legal obligations, such as those related to anti-money laundering and counter-terrorism financing, that require Currenxie to continue storing the data;

o. provide the Client with necessary information to show compliance with the Data Protection Schedule, while maintaining commercial and client confidentiality. Currenxie will also allow and assist with audits conducted by the Client or an independent auditor, subject to the conditions outlined in these Terms:

i. the Client must give a minimum thirty (30) days’ notice of its intention to audit,

‍ii. the Client may exercise the right to audit no more than once in any calendar year,

iii. commencement of the audit shall be subject to agreement with Currenxie of a scope of work for the audit at least ten (10) days in advance,

iv. Currenxie may restrict access to certain parts of its facilities and certain records where such restriction is necessary for commercial and/or client confidentiality,

v. the audit shall not include penetration testing, vulnerability scanning, or other security tests,

vi. the right to audit does not include the right to inspect, copy or otherwise remove any records, other than those that relate specifically and exclusively to the Client,

vii. any independent auditor will be required to sign such non-disclosure agreement as is reasonably required by Currenxie prior to the audit, and

viii. the Client shall compensate Currenxie for its reasonable costs (including for the time of its personnel, other than the client relationship manager) incurred in supporting any audit.

3.9 The Client gives Currenxie prior written permission to use the sub-processors listed in Part 2 of the Appendix to process personal data. If the permission is for a category of sub-processors, Currenxie will notify the Client of any changes involving the addition or replacement of sub-processors within that category.

Part 2 – Authorised Sub-Processors and Categories of Sub-Processors