1. INTRODUCTION
1.1. These terms and conditions (the Conditions) set out the terms on which Swift Finance Ltd (we, us, our) provides its money transfer services (the Services) to you through its website (the Website) and its mobile app (the app). The Services are money remittance within the meaning of paragraph 1(f) of Part 1 of Schedule 1 to the Payment Services Regulations 2017.
1.2. Before you register or confirm a transfer, please:
1.2.1. Read these Conditions, in particular our cancellation and refund terms at clause 11 and our liability at clause 15;
1.2.2. Print a copy for future reference; and
1.2.3. Read our Privacy Policy regarding your personal information.
1.3. By registering for or using the Services, you agree to be legally bound by these Conditions. You will be unable to register or send money if you do not accept these Conditions, as amended from time to time under clause 1.4.
1.4. These Conditions form an agreement between you and us that applies to every transfer you make (this agreement). We may change these Conditions. We will tell you about any change by email at least two months before it takes effect. If you do not agree with a change, you may end this agreement free of charge at any time before the change takes effect (clause 5.6). If you do not tell us that you object before the change takes effect, you will be taken to have accepted it. Exchange rates are shown in the quote for each transfer and are not changes to these Conditions.
1.5. You can ask us for a copy of these Conditions at any time, free of charge, and the current version is always available on the Website. These Conditions and all communications under them are in English.
2. ABOUT US
2.1. We are a private limited company registered in England and Wales under company number 10953047, with our registered office at 167-169 Great Portland Street, 5th Floor, London W1W 5PF, United Kingdom. We own and operate the Website and the app.
2.2. We are authorised and regulated by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2017 (firm reference number 805769), and supervised by HM Revenue & Customs (HMRC) under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. Our details can be checked on the FCA Register at https://register.fca.org.uk.
2.3. Money you pay us for a transfer that has not yet been paid out is safeguarded as the Payment Services Regulations 2017 require: it is kept separate from our own money in a segregated account at our bank.
2.4. You can contact us by email or by telephone, using the contact details shown on the Contact Us page of the Website.
3. COMMUNICATIONS
3.1. We communicate with you electronically. Information and notices we give you by email, by text message or through the Website or the app are given in writing.
3.2. We will contact you by email or text message, or by posting notices on the Website.
3.3. We send one-time security codes to the email address and mobile number you register with us.
4. WHO CAN USE OUR SERVICES
4.1. Our Services are for individuals aged 18 or over who send money for personal purposes from the United Kingdom or from one of the other sending countries listed on the Website. We do not provide the Services to companies, partnerships, trusts or other organisations.
4.2. The countries to which you can send money, and the payout methods available for each country, are shown on the Website and in the app.
4.3. You must comply with the laws of the country you send money from and of the country you send it to, including any taxes or duties that apply to the money you send. We will not be liable for any breach by you of any such laws.
5. REGISTRATION
5.1. When registering for the Services you must choose a username and password and keep them secure. Clause 11 explains when you are responsible for transfers made with them.
5.2. By registering for the Services you undertake:
5.2.1. That all the details you provide to us for the purpose of registering for and using the Services are true, accurate, current and complete in all respects
5.2.2. To notify us immediately of any changes to the information provided on registration or to your personal information
5.2.3. That you are 18 years of age or over
5.2.4. To use the Services only with your own username and password
5.2.5. To take all reasonable steps to keep your password safe
5.2.6. Not to disclose your password to anyone
5.2.7. To change your password immediately upon discovering that it has been compromised
5.2.8. To neither transfer nor sell your username or password to anyone, nor permit, either directly or indirectly, anyone other than you to use them
5.2.9. To give us correct and complete details of yourself and of each beneficiary, as set out in clause 9.2
5.3. We check the information you give us, using our identity verification and screening providers, to confirm your identity and to meet our legal obligations.
5.4. We may suspend your access to the Website and the app, or stop the use of your password or other security details, for reasons relating to their security, if we have reasonable grounds to suspect unauthorised or fraudulent use of your account, or where the law requires it. We will tell you that we intend to do so, and why, before we do so or, if that is not possible, immediately afterwards, unless telling you would compromise reasonable security measures or is unlawful. We will restore access when the reason for the suspension has ended.
5.5. You must tell us without undue delay, by email or by telephone, using the contact details shown on the Contact Us page of the Website, if you know or suspect that your password or other security details have been lost, stolen or used without your permission. If we need to contact you about suspected fraud or a security threat, we will do so by email or text message using the details you registered with us.
5.6. This agreement has no fixed end date. You may end it at any time, free of charge, by contacting us. Transfers you have already confirmed will be completed or refunded under clause 11.
5.7. You also have the right under the Financial Services (Distance Marketing) Regulations 2004 to cancel this agreement within 14 days, beginning with the day after the day you registered, without charge and without giving a reason, by contacting us by email or by telephone, using the contact details shown on the Contact Us page of the Website. Cancelling does not affect a transfer that has already been paid out at your request.
5.8. We may end this agreement by giving you at least 90 days’ notice by email, explaining our reasons and how you can complain to us and to the Financial Ombudsman Service. We may end it without notice where we cannot complete the customer due diligence checks that the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 require, where we have reasonable grounds to suspect that the Services are being used in connection with serious crime, or where the FCA, the Treasury or the Secretary of State requires it. Where you gave us incorrect information when you registered and we would not otherwise have accepted you, we may end this agreement by sending you that notice without delay, without waiting 90 days.
6. ELIGIBILITY AND IDENTIFICATION
6.1. To be eligible to use the Services and lawfully enter into and form contracts with us, you must:
6.1.1. Be 18 years of age or over
6.1.2. Be legally capable of entering into a binding contract
6.1.3. Provide your full residential address
6.2. If you do not qualify, you must not use the Services.
6.3. Identification requirements: before you can add a beneficiary or send money, you must verify your identity online with a valid photo identity document and a live selfie, and provide proof of address where requested, together with your complete contact details.
6.4. We may verify the documents you provide with independent online sources to confirm that they are valid and authentic.
6.5. We are required by law to carry out customer due diligence checks on you under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, and to screen you and your beneficiary against UK financial sanctions made under the Sanctions and Anti-Money Laundering Act 2018 and other international sanctions lists. You must provide any information we request, including evidence of the source of wealth or source of funds, the purpose of a transfer and your relationship to the beneficiary. We may delay, refuse or cancel a transfer if these checks cannot be completed, and we may be required by law, including under the Proceeds of Crime Act 2002, to provide information about you and your transfers to the relevant authorities. You must not use the Services in connection with money laundering, terrorist financing, fraud or to avoid financial sanctions.
7. FEES AND EXCHANGE RATES
7.1. Before you confirm a transfer, we show you our fee, the exchange rate, the total amount you will pay and the amount your beneficiary will receive.
7.2. When you confirm the transfer, the exchange rate is fixed for that transfer and does not change.
7.3. Our fee and the margin included in our exchange rate are the only charges we make for a transfer. We do not charge you for ending this agreement.
8. PAYMENT
8.1. Payment can be made by personal (not commercial) credit or debit card, or by bank payment, from an account in your own name, as shown on the payment page when you confirm a transfer. Prepaid cards and payments from third parties are not accepted.
8.2. By confirming a transfer, you consent to payment being taken from the debit or credit card or bank account you choose on the payment page.
8.3. You pay for a transfer when you confirm it.
8.4. When you pay by card, your card issuer authorises the payment, and we carry out checks to confirm that the card is yours and to prevent fraud.
8.5. By accepting these Conditions you:
8.5.1. Undertake that all the details you provide to us for a transfer are correct, that the payment card or bank account you are using is your own and that there are sufficient funds to cover the cost of the transfer
8.5.2. Undertake that you use the Services for your own personal purposes only
8.5.3. Authorise us to transmit the payment information you provide when you confirm a transfer (including any updated information) for the purpose of obtaining authorisation from your card issuer to ensure you have adequate funds, to authenticate your identity, to validate your payment card and for other security reasons, such as fraud prevention
8.6. We will contact you if there is a problem with the authorisation of your card.
8.7. We take reasonable care to keep the details of your transfers and payments secure. Clause 11 explains your rights if a transfer is made without your authority.
8.8. If you ask your card issuer or bank to reverse a payment for a transfer that we have paid out as you instructed, we may refuse further transfers under clause 9.7 while we investigate, and you remain liable to us for the amount paid out and our fee.
9. SENDING MONEY
9.1. To send money, you log in, choose your beneficiary and the payout method, enter the amount and confirm the transfer after reviewing the quote described in clause 7. By confirming the transfer you give your consent to it.
9.2. You must give us the correct details of your beneficiary for the payout method you choose, as requested in the app or on the Website: the beneficiary’s full name and the mobile wallet number, the bank account details or the cash pickup details. We pay out using these details. If the details you give us are incorrect, we are not responsible for a payment made in accordance with them, but we will make reasonable efforts to recover the money and, if we cannot recover it, we will give you, on written request, the information we have that you need to claim it back.
9.3. We receive your payment order when you confirm it and your payment for it has been approved.
9.4. We normally pay your beneficiary within minutes. The amount will be paid to your beneficiary’s provider, or made available for cash pickup, no later than the end of the business day after we receive your payment order, unless the transfer is held for the checks described in clause 6.5. If a transfer is held, we will tell you by the end of the business day after we receive your payment order, with the reason and the information we need from you, unless the law prevents us. If the checks cannot be completed, we will refuse the transfer under clause 9.7 and refund you under clause 11.2. A business day is any day other than a Saturday, a Sunday or a bank holiday in England.
9.5. We send you a confirmation of each transfer with its details.
9.6. Each transfer you confirm forms a contract between you and us on these Conditions and the details shown in the quote you confirm (the Contract).
9.7. We may refuse a transfer if you have not paid for it, if a payment for an earlier transfer has been reversed at your request (clause 8.8), if it would breach these Conditions, if you have not given us the information we have asked for to confirm your identity or the information you have given us, if the checks described in clause 6.5 cannot be completed, or if the law requires it. If we refuse a transfer, we will tell you as soon as possible (by the end of the business day after we receive your payment order or, for a transfer held under clause 9.4, as soon as we decide to refuse it) and, where possible, give you the reasons and tell you how to correct any error, unless the law prevents us from doing so.
9.8. We do not accept orders through agents or other intermediaries. Every customer registers and sends money directly through the Website or app.
9.9. Limits apply to the amounts you can send. A transfer above a limit may be held for the checks described in clause 6.5.
10. PAYING YOUR BENEFICIARY
10.1. Your beneficiary is paid by our payout provider to a mobile wallet, to a bank account or for cash pickup, as you choose when you confirm the transfer.
10.2. Once the amount has been paid to your beneficiary’s mobile wallet or bank account provider, that provider is responsible for crediting it to your beneficiary. For cash pickup, we are responsible for the amount being made available for your beneficiary to collect.
11. CANCELLING A TRANSFER, REFUNDS AND PROBLEMS WITH A TRANSFER
11.1. You can cancel a transfer at any time before it has been paid out to your beneficiary, by contacting us by email or by telephone, using the contact details shown on the Contact Us page of the Website. Once a transfer has been paid out, it cannot be cancelled.
11.2. Except where clause 11.5 applies, if you cancel a transfer before it is paid out, or if we refuse a transfer or cannot pay it out, we refund the full amount you paid, including our fee, to the payment card or bank account you used. We will usually process a refund as soon as possible and, in any case, within 30 days, unless we are required by law to hold the funds.
11.3. If you tell us that a transfer was not authorised by you, we will refund it as soon as practicable and in any event by the end of the business day after you tell us. We may delay the refund beyond that time only if we have reasonable grounds to suspect fraud by you and report those grounds in writing to the relevant authorities as the law requires.
11.4. You may be liable for up to £35 of the losses from an unauthorised transfer resulting from the use of lost, stolen or misappropriated security details, unless the loss, theft or misappropriation could not have been detected by you before the transfer, or was caused by us or by someone acting for us. You will be liable for all losses if you have acted fraudulently, or if you have intentionally or with gross negligence failed to keep your security details safe or to tell us without undue delay that they have been lost, stolen or misused. Unless you have acted fraudulently, you will not be liable for any losses arising after you have told us, or arising because we did not give you a way to tell us or did not apply strong customer authentication where the law requires it.
11.5. If a transfer is not paid out or is paid out incorrectly, we will refund the amount and our fee without undue delay, unless we can show that your beneficiary’s provider received the correct amount on time. If a transfer is paid out late, we will, at your request, ask your beneficiary’s provider to credit it to your beneficiary as if it had been paid on time. Whatever the reason, if you ask us, we will immediately and free of charge try to trace the transfer and tell you the result.
11.6. You must tell us without undue delay, and in any event within 13 months of the date your payment was taken, about any unauthorised or incorrectly executed transfer. If you do not, you may lose your rights under clauses 11.3 to 11.5. This time limit does not apply if we did not give you the information about the transfer that the law requires.
12. COMPLAINTS
12.1. You can complain free of charge by email or by telephone, using the contact details shown on the Contact Us page of the Website, or by letter to Swift Finance Ltd, 167-169 Great Portland Street, 5th Floor, London W1W 5PF.
12.2. We will send you our final response within 15 business days of the day we receive your complaint. In exceptional circumstances outside our control, we will write to you within those 15 business days to explain the reason for the delay and the date by which you will receive our final response, which will be no later than 35 business days after the day we received your complaint.
12.3. If you are not satisfied with our final response, you may refer your complaint to the Financial Ombudsman Service, free of charge, within six months of the date of our final response. If we have not sent our final response within the times in clause 12.2, you may refer your complaint to the Financial Ombudsman Service after those times have passed. Financial Ombudsman Service, Exchange Tower, London E14 9SR; telephone 0800 023 4567; www.financial-ombudsman.org.uk.
13. INTELLECTUAL PROPERTY
13.1. The content of the Website and the app, including text, design, software and trade marks, belongs to us or to our licensors.
13.2. You may view, download and print content from the Website and the app for your own personal use. You must not copy, publish, sell or otherwise use it for any other purpose without our written permission.
14. USING THE WEBSITE AND THE APP
14.1. You must use the Website and the app only for lawful purposes and in accordance with these Conditions. You must not try to gain unauthorised access to them, interfere with how they work or introduce viruses or other harmful material.
14.2. We take reasonable steps to keep the Website and the app available and secure, but we do not guarantee that they will always be available or free from interruption. We may suspend them for maintenance or for security reasons.
15. OUR LIABILITY TO YOU
15.1. We are responsible for loss or damage you suffer that is a foreseeable result of our breaking these Conditions or of our failing to use reasonable care and skill. Loss or damage is foreseeable if it is obvious that it will happen or if, when the Contract was made, both of us knew it might happen.
15.2. We are not responsible for loss or damage that is not foreseeable, or for any loss of business, profit or opportunity, because the Services are for your personal use.
15.3. Except where clause 11 or clause 15.4 applies, our liability to you in connection with a transfer is limited to the amount you paid for that transfer, including our fee.
15.4. Nothing in these Conditions limits or excludes our liability:
15.4.1. for death or personal injury caused by our negligence;
15.4.2. for fraud or fraudulent misrepresentation;
15.4.3. under the Payment Services Regulations 2017, including for unauthorised transfers and for transfers that are not executed or are executed incorrectly, as set out in clause 11;
15.4.4. under the Consumer Rights Act 2015, to the extent that Act does not allow it to be limited or excluded; or
15.4.5. for anything else for which the law does not allow us to limit or exclude our liability.
15.5. Nothing in these Conditions affects your statutory rights as a consumer.
15.6. You are responsible for any loss we suffer as a direct result of your using the Services fraudulently, of your deliberately breaking these Conditions or of your giving us information that you know is false.
16. EVENTS OUTSIDE OUR CONTROL
16.1. We are not responsible for a delay or failure in providing the Services where it is caused by abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all efforts to the contrary, or by our obligations under other provisions of UK law.
16.2. If this happens, we will tell you as soon as we can and do what we reasonably can to reduce the effect. If a transfer cannot be paid out, we will refund you under clause 11.2.
17. YOUR PERSONAL INFORMATION
17.1. We process your personal information in accordance with the UK General Data Protection Regulation, the Data Protection Act 2018 and our Privacy Policy, which is available on the Website. The law requires us to collect, check and keep information about you and your transfers, including under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
17.2. We record telephone calls and keep the recordings as customer records.
18. THIRD PARTY RIGHTS
18.1. A person who is not a party to these Conditions has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Conditions.
19. LINKS TO OTHER WEBSITES
19.1. The Website and the app may contain links to other websites. We are not responsible for the content of those websites or for any loss arising from your use of them.
20. LINKING TO THE WEBSITE
20.1. You may link to the homepage of the Website, provided you do so in a way that is fair and legal, does not damage our reputation and does not suggest any association with us or endorsement by us that does not exist. We may withdraw this permission at any time.
21. NOTICES
21.1. You can give us notices by email or by telephone, using the contact details shown on the Contact Us page of the Website, or by letter to our registered office.
21.2. A notice you give us takes effect when you send it or, if you telephone us, when you tell us.
21.3. We give you notices by email or text message to the details you registered with us, or by posting them on the Website. Notice of a change to these Conditions is always given by email under clause 1.4.
22. ENTIRE AGREEMENT
22.1. This agreement and each Contract are the whole agreement between you and us about the Services.
23. GENERAL
23.1. We may change the domain address of the Website at any time. Changes to these Conditions, including our fees, are made under clause 1.4.
23.2. If a court or other competent authority decides that any part of these Conditions is invalid or unenforceable, the rest of these Conditions will continue to apply.
23.3. These Conditions and each Contract are concluded in English.
23.4. If we do not insist straight away that you do anything you are required to do under these Conditions, or if we delay in taking steps against you for breaking them, that does not mean that you do not have to do it and does not prevent us from taking steps against you later.
24. GOVERNING LAW AND COURTS
24.1. These Conditions and each Contract are governed by the law of England and Wales. You may bring proceedings in the courts of England and Wales or, if you live in Scotland or Northern Ireland, in the courts of the part of the United Kingdom where you live. Nothing in these Conditions takes away any protection given to you by the law of the country where you live.