Terms Of Use

These terms tell you the rules for using our website www.Totipay.com (our site), your Totipay account and its related services (the “Services”or “Platform”).

2. Who we are and how to contact us?

Our site is operated by Totipay Ltd (we or us). We are registered in Birmingham and Wales under company number 10338529 and have our registered office at 66-68 Radclyffe House, Hagley Road, Birmingham, B168PF, United Kingdom.

We are regulated by the Financial Conduct Authority as an Electronic Money Institution under the Electronic Money Regulations 2011 for the issuing of electronic money. We are included in the FCA’s registered of electronic money institution firms (Firm Registration Number 938488) which can be found on the FCA website.

To contact us, please contact through [email protected]

3. By using our Services you accept these terms

By using our Services, you confirm that you accept these terms of use and that you agree to comply with them .

If you do not agree to these terms, you must not use our Services.

We recommend that you print a copy of these terms for future reference.

4. There are other terms that may apply to you

These terms of use refer to the following additional terms, which also apply to your use of our site:

Our Privacy Policy, which sets out the terms on which we process any personal data we collect from you, or that you provide to us. By using our site, you consent to such processing and you warrant that all data provided by you is accurate.

5. Amendment to these Terms

We may amend these Terms at any time by posting a revised version on our website. The revised version will be effective at the time we post it unless otherwise noted.

6. We may make changes to your Services

We may update and change our Services from time to time to reflect changes to our products, our users’ needs and our business priorities. We will try to give you reasonable notice of any major changes.

We do not guarantee that our Services, or any content on it, will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of our Services for business and operational reasons. We will try to give you reasonable notice of any suspension or withdrawal.

7. Using Money in your Totipay Account

Once you have e-money in your account you'll be able to use our services. For example, you can do the following:

send money to and receive money from other Totipay accounts and non-Totipay accounts;
change e-money from one currency to another (we call this a currency exchange). The currencies available might change occasionally;
view information about and manage your account; and

8. Getting to know you

In order to comply with legal and operational obligations relating to combating money laundering and terrorist financing, we must possess sufficient information about you and verify such information on an ongoing basis.

You agree to us conducting due diligence checks on you and on any Authorised Users, directors, shareholders, affiliates and ultimate beneficial owners as required during the Term of this Agreement. We may make, directly or through any third party, whatever steps we consider necessary to verify that information. We may keep records of the contents and results of any searches that we carry out on you in accordance with all current and Applicable Law.

You are responsible for providing and maintaining accurate information on your account and our platform. Where we request information from you to complete our due diligence checks, you shall cooperate in good faith and promptly provide such information requested by us and agree to take all reasonable measures to notify us in timely manner as to any changes to the information you have previously supplied, in accordance with the terms of this Agreement. If you fail to do so, we are permitted to suspend the provision of the Services and inform any Third Party Supplier of this.

9. Eligibility

You must be over 18 years old to open an account.

When you ask to open an account, the following apply:

you promise that you have full authority to enter into the agreement and meet the obligations under it; and
we, or someone acting for us, will ask for certain information about you, where the amount you are opening the account with comes from, your authorized persons (as explained below), as well as any directors, partners, people with significant control over your business or any beneficial owners. We'll also ask you to confirm that any authorized person has your authority to act on your behalf and that they have agreed to keep to these terms and conditions.

We will only give you access to your Totipay account and the Totipay Dashboard once we have all the information we need.

You can't open more than one Totipay account, or open a new Totipay account if we've previously closed a Totipay account that you held. You also cannot open an account with us if you are a charity, political organization or religious organization.

If you operate or are involved in any of the following industries or businesses, you will not be able to open a Totipay account:

Non-licensed businesses operating in a regulated industry
Narcotics and psychotropic substances
Trading in precious metals
Pornography, prostitution and sexual exploitations
Illegal and criminal activities
Participation in organized crime and racketeering
Fraud
Shell Organizations and unlicensed financial institutions
Terrorism and terrorist financing including unregistered NGOs
Currency Counterfeiting
Ponzi/Pyramid Scheme

Notwithstanding the above, we may in our own discretion not offer our services or if in accordance with our internal policies, we consider your business to be high risk.

10. Corporate Opt-out

You agree that the provisions of Part 6 and the following Regulations of the Payment Service Regulation 2017 do not apply to this Agreement: 66(1), 67(3), 67 (4), 75, 77, 79, 80, 83, 91, 92 and 94.

11. You must keep your account details safe

If you choose, or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential. You must not disclose it to any third party.

We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these terms of use.

If you know or suspect that anyone other than you knows your user identification code or password, you must promptly notify us using the customer chat function on our site.

12. How you may use our material

We are the owner or the licensee of all intellectual property rights on our platforms, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

You may print off one copy, and may download extracts, of any page(s) from our platforms for your personal use and you may draw the attention of others within your organisation to content posted on our site.

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

Our status (and that of any identified contributors) as the authors of content on our site must always be acknowledged.

You must not use any part of the content on our site for commercial purposes without obtaining a licence to do so from us or our licensors.

If you print off, copy or download any part of our platform in breach of these terms of use, your right to use our platform will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

13. Do not rely on information on our platform

The content on our platform is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our platform.

Although we make reasonable efforts to update the information on our platform, we make no representations, warranties or guarantees, whether express or implied, that the content on our platform is accurate, complete or up to date.

14. Responsibility for third party sites/links

Where our platform contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.

We have no control over the contents of those sites or resources.

15. Our responsibilities

We undertake to provide an electronic platform (the “Totipay”) through which we can, with reasonable care and skill:

arrange the opening of a Totipay Account in your name with us;
provide functionality to allow you to operate your Totipay Account, including instructing Transactions in respect of it;
arrange the provision of currency exchange services to allow outgoing payments from your Totipay Account to be converted to one of the available currencies of your choosing;

We’re not responsible for any loss or damage (direct or indirect) caused by something beyond our reasonable control. We’re also not responsible for any loss or damage (direct and indirect) if something was unavoidable despite us using reasonable care and skill to avoid it.

This may include:

hardware breakdowns
actions or decisions taken to comply with legal or regulatory requirements
delays or failures caused by third party industrial action
problems with a third party system or network (including power outages)
data-processing failures.

So you won’t be able to claim back money you lost if your losses resulted from circumstances that we couldn’t or shouldn’t have been expected to know about.

We’re responsible to you for any foreseeable loss and damage which we cause. When we say ‘foreseeable’, this means we could or should have expected those losses. This includes if we breach the terms of this contract or fail to use reasonable care or skill providing services to you.

For example, we’ll usually refund your money if:

we should’ve applied certain security measures but we didn’t, unless you acted fraudulently

We’ll also refund any money you lose if we make mistakes with your payments. We can help by speaking to other banks to make sure they treat any payment we send late as if it was sent on time.

Examples of when you won’t be able to claim back money you’ve lost may include if:

you gave us incorrect instructions or we can prove that the bank we sent your payment to received it (although we’ll still try to help you recover your money)
you purposefully didn’t keep your phone, PIN or other security details safe, you were very negligent in not keeping them safe, you gave them to someone else, or your account is overdrawn
you acted fraudulently.

16. Uploading content to our platform

You must not misuse our platform by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to our platform, the server on which our platform is stored or any server, computer or database connected to our platform. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our platform will cease immediately.

17. Authorized persons

You may authorize authorized representatives to operate your Totipay account, including:

A person authorized to enter this agreement on behalf of your business and will have access to your account
A person authorized to initiate transactions on behalf of your business, make currency exchanges etc.

All authorized persons shall be obligated to submit certain documentation to be able to verify their identity. We will treat all instructions and actions by authorized persons acting within the limits of their authority as if you had given that instruction or carried out that action yourself.

It is your responsibility to withdraw your authority from, or impose limits on, any authorized person (for example, if they are no longer employed by you). Where any transaction is initiated by the authorized person which may lead to loss of funds by you, We shall not be liable for a refund if all measures under this section have not been adhered to.

Any authorized person must be 18 or over. You are also responsible for all their activities.

18. Account closure

You may close your account at any time and for any reason. However, we reserve the right to conduct certain checks before the account is closed. You are obligated to pay us any pending fees or money you owe us before your account closure and we may deduct these sums from your account balance by giving you notice.

We can close your account by giving you at least one (1) months’ notice. We may close your account immediately or stop you using the app if we believe you’ve:

broken the law (or attempted to break the law) or the terms of this agreement
put us in a position where we might break the law or are at risk of action from a regulator, law enforcement agency or government body
given us false information
given a third party control of your account, phone or PIN (unless you’ve formally agreed this with us or are legally allowed to)
been abusive to anyone at Totipay or a member of our community.
Conducted transactions which in our opinion appear suspicious

19. Account security

You agree not to allow anyone else to have or use your password details and to comply with all reasonable instructions we may issue regarding account access and security. In the event you share your password details, Totipay will not be liable to you for losses or damages. You will also take all reasonable steps to protect the security of the personal electronic device through which you access Totipay’s services (including, without limitation, using PIN and/or password protected personally configured device functionality to access Totipay’s services and not sharing your device with other people).

20. Funding your Totipay account

You can fund your Totipay account by making a bank transfer. When we receive the money we will add the equivalent value of e-money in your account. Make sure you follow our instructions carefully to avoid any delays.

The account details you must use to add money to your account will depend on the currency of the money you are adding.

It's easy to send money to your or someone else's bank account. Just enter the required details of the account you're sending the money to in the app and follow the prompts. We will not be liable to refund any monies lost where you input the wrong beneficiary details.

Sometimes, money you've asked us to transfer to someone is not paid into their account and is returned to us. If we had to carry out a currency exchange when we sent the payment, and can show that we did everything right, when we return the money to you we'll convert it back to the original currency. This means that the amount you receive back into your account might be less than the payment you made. We would not be responsible for any losses that this causes you.

21. Currency exchange

If you tell us to make a currency exchange, or we need to convert the currency of a payment into or out of your account, we'll use an exchange rate based on our market rate, which is based on foreign-exchange markets.

Once we've converted the currency, your transaction history in the dashboard will show the exchange rate we used. We use the rate that applies at the time we carry out the conversion. We will not be responsible for any money lost as a result of currency conversion.

22. When will you receive a payment

We understand that when you make a payment, one of the most important things is that the person the payment is for receives it on time. When their bank will receive the money depends on what time you tell us to make the payment, and the currency you want us to make it in.

23. When we will refuse payment

We must refuse to make a payment, or delay a payment, in the following circumstances:

if legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks;
if you have broken these terms and conditions in a way that we reasonably believe justifies us refusing or delaying your payment;
if we believe that processing your instruction would break these terms and conditions or that your instruction doesn't contain all the information we need to make the payment properly;
if the amount is over, or would take you over, any limit that applies to your account.
if there is not enough money available in your account to make the payment and cover any charge;
if you've been declared bankrupt or insolvent, are being wound up, or a similar event is taking place;
if, even after doing everything reasonably possible, we won't be able to make the payment on time;
if a third party prevents us from making the payment
if you owe us money or we intend to exercise our right of set-off;
if we have asked you for important information we reasonably need and you have not given us that information; or
if we have suspended your account.

24. What fees do we charge

We will charge you fees for the Services. You may have to pay other costs, taxes or charges related to your Totipay account, which are outside of our control and not charged by us.

Where this is the case and you ask us to make a payment, we’ll deduct the relevant fee from your account balance separate to the amount you’ve asked us to send (when you are making a payment), or deduct it from what you’re due to receive (when you are receiving a payment).

25. Security

Upon completion of the successful onboarding, you will be expected to maintain certain security measures as mandated by us from time to time. You are solely responsible for, and will establish and maintain appropriate security, technical and operational measures.

If you suspect that there may be, have been, an authorized use of the Services, you should immediately contact us through [email protected]. We may restrict your account immediately until further security measures have been taken, if we reasonably suspect your account might be at risk of fraud or exposed to an unauthorized third party.

We will not be liable for any funds lost as a result of you revealing your security credentials to a third party.

26. Our right of set-off

If you owe us money, we can take the amount you owe us from any amount we are due to pay to you, this could be in the currency owed to us or the equivalent in the available currency in your account. We call this our right of set-off.

If you owe us money and you don't add money to your account or repay us within seven days, we can recover the amount by:

exercising our right of set-off; or
taking other legal steps to recover the money you owe us, such as instructing lawyers or debt collectors.

If we take any (or all) of these steps, we might charge you our reasonable costs. You do not have any right of set-off under this agreement.

27. Making a complaint

If you have a complaint, please reach out to us on [email protected]