Terms & Conditions

TERMS OF USE

 

 

This Agreement is a contract between you and IMO RAPID TRANSFER and applies to your use of the IMO RAPID TRANSFER services (the "Services"). Where you are undertaking a transaction which involves IMO RAPID TRANSFER the terms below shall similarly apply for the use of IMO RAPID TRANSFER services. In such an instance, references to “IMO RAPID TRANSFER LIMITED”

By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement. This Agreement is provided to you and concluded in English. You agree that any use by you of the Services shall constitute your acceptance of the Agreement and we recommend that you store or print-off a copy of the Agreement (including all policies) for your records.

Please read this Agreement carefully and make sure that you understand it fully before using the Services. Please note that if you do not accept this Agreement, you will not be able to use the Services.


Our Relationship with You

IMO RAPID TRANSFER is only a Payment Service Provider and works with licensed Payment solutions, in the respective markets(LPSs), When you provide your information to IMO RAPID TRANSFER, such information will be shared with the respective LPSs in the markets for which you are undertaking a transaction utilizing the IMO RAPID TRANSFER platform and such LPSs shall have an independent right to your personal information. Please read our Privacy Policy for further details on the collection, disclosure and use of your information. Please also read details of each LRO on the website before your commence any transaction via IMO RAPID TRANSFER.


The main business for
IMO RAPID TRANSFER is money transfer and provision of services for making foreign currency payments in markets across the world and Bill payments

When you undertake a transaction which includes
IMO RAPID TRANSFER the terms contained herein shall similarly apply for the use of the IMO RAPID TRANSFER.

The main business of
IMO RAPID TRANSFER LIMITED

1. YOUR PRIVACY

Protecting your privacy is very important to IMO RAPID TRANSFER. Your passwords are stored on IMO RAPID TRANSFER servers in encrypted form. We do not disclose your account details, postal or email addresses to anyone except when legally required to do so and as specified in our Privacy Policy.

Sensitive information between your browser and the
IMO RAPID TRANSFER.co website is transferred in encrypted form using Secure Socket Layer (SSL). When transmitting sensitive information, you should always make sure that your browser can validate the IMO RAPID TRANSFER certificate.

In order to facilitate the opening of your account digitally, you authorize
IMO RAPID TRANSFER to disclose your personal information such as ID documents to third parties for the purpose of conducting customer due diligence or KYC. Once your account has been opened, you authorize IMO RAPID TRANSFER to disclose your personal information as needed in investigations of fraud or other illegal activity where we believe it is reasonable and appropriate to do so.

2. TRANSACTION HISTORY

You can access your details of executed payment transactions and other information relating to your Account by logging into IMO RAPID TRANSFER and clicking on the "My Transactions" tab..

3. DUPLICATE ACCOUNTS

IMO RAPID TRANSFER may refuse to create duplicate accounts for the same user due to security and client identification requirements. IMO RAPID TRANSFER reserves the right to refuse the creation of duplicate accounts or accounts which are linked to bank accounts not belonging to you due to security and client identification requirements. In such cases, IMO RAPID TRANSFER reserves the right to close these accounts without notification.

4. Eligibility

To be eligible for our Services, you must be at least at the minimum age under the laws of your country of residence. You further represent and warrant to us that if you are an individual and you open an Account with us that you are not acting on behalf of an undisclosed principal or a third party beneficiary.

Before being able to use the Service we have to perform mandatory customer verification. For that we may require a physical verification and/or ask for photographic evidence of your identity such as a copy of your passport. It is possible to provide this evidence through scanning and uploading such information on the
IMO RAPID TRANSFER site or through providing such information to our helpdesk.

IMO RAPID TRANSFER reserves the right to access various government and private databases so as to verify your information (so called “electronic ID”). If certain databases provide a match to the information you provide then we may not have to ask for photographic evidence of your identity

IMO RAPID TRANSFER reserves the right to refuse to accept any new user or any transaction at its discretion. If incomplete details are provided or if you do not provide information requested by IMO RAPID TRANSFER to complete its customer verification and meet the anti-money laundering requirements as required by relevant authorities, IMO RAPID TRANSFER reserves the right to refuse to proceed with the account opening and/or the transaction.

5. USING THE SERVICE

You are solely responsible for the accuracy and validity of the information provided by you. IMO RAPID TRANSFER will process transactions based on the information provided by you and takes no liability whatsoever for erroneous credits to receivers. If a transaction is returned back you can either:
(i) create a fresh transaction and instruct us to reprocess the transaction or
(ii) request a refund
If you wish to re-process the transaction, please note that
IMO RAPID TRANSFER reserves the right to re-process the transaction at an exchange rate at which the transaction was originally done, or at current prevailing rates. You will also be liable to pay all additional bank charges and administration charges for reprocessing the transaction. Should you wish to get a refund instead, IMO RAPID TRANSFER will make a refund net off any IMO RAPID TRANSFER fees and third party charges and Foreign Exchange adjustments incurred in processing these transactions.

You should be aware that, each transaction you create has a specified validity based on the time you created this transaction on the
IMO RAPID TRANSFER platform. The period of time for which the transaction is valid may change from time to time at our sole discretion, and will be confirmed to you at the time of completing the transaction on the IMO RAPID TRANSFER platform.

It is solely your responsibility to ensure that the funds reach the local bank /mobile money account specified by us before the validity of the transaction expires. If the funds reach us after the validity of the transaction expires, then the transfer will fail and we will need to refund your funds.

From time to time, we will identify on the Website the currencies and countries for which the Services is available. Available currencies and countries are subject to change at our sole discretion

You should note that while it is our obligation to ensure that funds arrive at the Receiver’s bank account or payment account within the stated timelines, we do not control the time it takes for the Receiver’s bank or payment provider to credit and make available funds to the Receiver.


You should further note that in the above timelines are subject to all necessary security and customer identification checks being conducted in line with our security and identification guidelines. If further investigation or the collection of additional information from you is necessary, we will let you know, but this may result in a cancellation of the transaction.. If required by a regulator, we may withhold your funds in any transaction through our website


6. EXCHANGE RATES

IMO RAPID TRANSFER makes reasonable efforts to undertake transactions at exchange rates aligned to the mid-market rate. IMO RAPID TRANSFER relies on aggregated third party information sources and does not guarantee that the rates match any particular benchmark source at any given time.

We reserve the right at our sole discretion to refuse a transaction (including but not limited to: restricting the creation of a new transaction as well as cancelling a transaction already in process). For transactions refused by us, we will notify you as promptly as we reasonably can, provide a reason where it is possible to, and arrange for a refund where applicable. More specifically, the exchange rate may change between the time of posting a transaction and when we receive your money. If the rate changes by more than a certain pre-determined percentage (indicated to you at the confirmation stage), we reserve the right to put the transaction on hold and email you; or refuse the transaction.

7. TRANSACTION LIMITS

The minimum and maximum transaction limits for transactions may vary depending on the market and we reserve the right to change these limits from time to time.

8. BANK TRANSFERS

All payments must originate from your  bank account. You must be either the main account holder or the joint account holder of the bank account from which you send money to us. Transfers from accounts that do not belong to you (including those of your spouse or family members) are strictly prohibited and will lead to suspend your account. You are responsible for all charges, including your bank charges, in transferring the funds to us.

9. REFUSED TRANSACTIONS

IMO RAPID TRANSFER may refuse to proceed with the transaction if we cannot match the name registered with IMO RAPID TRANSFER with the name on your bank account from which you send the money. In this case you may be liable for an administration charge. Please refer to section 12 for details.

10. Cancellation of Transactions

You may cancel your transaction any time before sending the money to our bank account. You will not be able to cancel the transaction once it has been actioned by us. IMO RAPID TRANSFER reserves the right to allow/ disallow cancellations of a transaction. IMO RAPID TRANSFER Fee will not be charged on a cancelled transaction.

11. YOUR OBLIGATIONS

You are responsible for ensuring the payment details you provide are accurate. Once payment instructions have been executed by IMO RAPID TRANSFER, transactions cannot be reversed and IMO RAPID TRANSFER will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions.

In the unlikely event that you notice an error in either the payment sent or received as a result of using the Services, then you should immediately notify us at
support@imodevlab.xyz


You agree not to use the Services for any unlawful activity and
IMO RAPID TRANSFER reserves the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, IMO RAPID TRANSFER reserves the right to report suspected unlawful activity to any appropriate person or body and to provide them with any relevant information, including personal data.

12. FEES

IMO RAPID TRANSFER charges a fee on every transaction depending on the country you are sending money from/ to. Fees relating to the transaction are clearly displayed on the transaction page before you confirm proceed with a transaction.

IMO RAPID TRANSFER may charge an administration fee for transactions which are not successful and a refund has to be processed. This will include:

  1. Transactions where money is received after the validity of that transaction has expired: If funds are received after the daily cut off time, IMO RAPID TRANSFER will contact you to confirm whether you will be booking a new transaction or if a refund is to be issued. If you choose to book a new transaction, the funds will be utilized in full towards the new transaction. However, if the funds are to be refunded, a processing fee of IRTLR2 will be levied. Once we receive this confirmation, the refund will be processed by us.
  2. Transactions rejected by our pay-out partners or beneficiary bank due to compliance reasons: If the transaction is rejected due to compliance reasons by our pay-out partners or by the beneficiary bank, we will process the refund of the full amount as soon as possible. Please note that this refund process can be initiated only after funds are returned to us by the pay-out partner / beneficiary bank.
  3. Cases where money has been sent to us without a transaction being created: If funds are received in our account without a valid transaction being created on the IMO RAPID TRANSFER platform, or if funds were credited to our account by mistake and a refund is requested we will do our best to contact you and remind you to create a transaction. If you wish to get a refund, a processing fee of IRTLR2 will be applicable for such refunds.

IMO RAPID TRANSFER may change from time to time, the administrative fees it charges for refund cases and reserves the right to do so at its sole discretion.

13. TIME FRAME FOR PROCESSING  REFUNDS

IMO RAPID TRANSFER will Endeavour to process your refunds in a reasonable time frame. Generally, a bank transfer takes between 1–5 working days to appear back in your Wallet. In cases where the money is held by the compliance teams of our pay-out partners or your beneficiary’s banks, we will not be able to initiate the refund until the money is returned to us by the pay-out partner or beneficiary bank. Refunds are generally processed by IMO RAPID TRANSFER at the end of the working day, however if you need a refund to be processed urgently, please write to us at support@imodevlab.xyz If the email is received within working hours, we will be happy to assist and process the refund for you on an urgent basis at an additional charge of IRTLR2.

13. a   MERCHANT TRANSACTIONS

When making a payment to a Merchant of
IMO RAPID TRANSFER, you will be required to confirm the transaction. At this time, you may also be requested to enter your Password or PIN depending on the channel. By entering your Password or PIN to confirm the transaction you agree and confirm that you authorized the transaction. You cannot directly reverse or cancel any payment once it has been approved by you.

When making a payment on a merchant website using
IMO RAPID TRANSFER, you will be required to log into your IMO RAPID TRANSFER account, before payment can be made

As we are unable to reverse or charge-back any payments made, should you have a dispute with any Merchant, you should resolve such disputes with the Merchant directly.

Disputes between you and a Merchant will not affect our right to recover payments from you

14. General Terms

 

  1. THIRD PARTY SERVICES

You acknowledge and agree that IMO RAPID TRANSFER is partnering with the LPSs and other third party partners and providers in order to deliver you the Services.

By using our Services, you agree to be bound by any user agreements established by any LPSs, third party partners and providers that
IMO RAPID TRANSFER engages with in addition to the Terms and Conditions set out in this Agreement.

By accepting and agreeing to the partner’s terms and conditions you expressly acknowledge that
IMO RAPID TRANSFER is acting independently of the LPSs and that IMO RAPID TRANSFER shall have no liability for the actions or omissions of LPSs.

  1. Communications

We are required to provide certain information to you in writing. By accepting this Agreement, you agree that we can communicate with you electronically either by email or by posting notices on the IMO RAPID TRANSFER website.

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