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 that 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
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
RAPID TRANSFER platform and such LPSs shall have an independent
details on the collection, disclosure and use of your information. Also,
read details of each LPSs on the website before you commence any transaction
The main business for IMO RAPID TRANSFER is a money transfer and provision of services for making foreign currency payments in markets across the world and Bill payments easy
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.
1. YOUR PRIVACY
1.1. 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
1.2. 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.
1.3. 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.
4.1. 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.
4.2. 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.
4.3. 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
4.4. 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 the 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
5.1. 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 the 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.
5.2. 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.
5.3. 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
5.4. 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.
5.5. You should further note that 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
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
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 at any time before sending the money to our bank account. You will not be able to cancel the transaction once it has been auctioned 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
11.1. 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
11.2. 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 firstname.lastname@example.org
11.3. 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.