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Terms and Conditions

SPEED REMIT TERMS AND CONDITIONS FOR ONLINE REMITTANCE

These Terms and Conditions (“Terms”) shall be binding on all those persons (“USERS”) who use our remittance services (“Services”) using our websitewww.speedremit.comincluding its sub-domains, website pages, hyperlinks and mobile optimized version, if any. These Services are offered bySpeed Remit Worldwide Limited is a Money Transfer Service provider Regulated by HMRC & authorized by FCA under the PSD2, FCA - FRN Number 585100 HMRC MSB Registration Number: XQML00000177345 Registration Number: 04168763 that Offers to Customers facilitating economical, safe and Swift cross border Transfer of funds globally, through API integrated solution/Web Based Application.(Hereinafter referred to as the “Speed Remit”, “we,” “us” or “our”). Any ancillary terms, guidelines, KYC compliance requirements and any other requirements as may be applicable from time to time shall be deemed to be an integral part of these Terms.

  1. User Registration and Obligations
  1. In order to receive the service of Digital Application the user must be 19 years or older and must register his or her personal details with SPEED REMIT via Digital Application as follows:

(i)Mobile telephone number and password associated;

(ii)Email address;

(iii)Full name;

(iv)Valid form of ID and the other details;

  1. The user must provide SPEED REMIT via digital application with documents to allow the identification of the users (either a Driver’s Licence or a Passport clearing showing date of birth). These requirements are necessary to comply with the policy maintained by SPEED REMIT in relation to its obligations to protect against Anti-money laundering and counter terrorism financing.
  2. SPEED REMIT may require the user to produce additional identification as necessary to permit it to comply with its legal obligations;
  3. The Client and the User must not violate any applicable laws and takes responsibility for any consequences flowing from the Client’s breach of this section;
  4. The Client is responsible for checking the SPEED REMIT website regularly to keep its users up to date with changes to these Terms and Conditions;
  1. Use of the App / Web portal and How the SPEED REMIT Service is to be Provided
  1. The user acknowledges that the SPEED REMIT Service may not be available, in whole or in part, in certain regions, countries, or jurisdictions.
  2. SPEED REMIT has ‘Know Your Customer’ obligations and reserves the right to approve the users based on the documentation produced by the users;
  3. SPEED REMIT will not TRANSMIT the user’s remittance until user transfer the money or deposited into SPEED REMIT Bank Account via debit card , credit card or bank transfer; subject to clear fund policy basis.
  4. Using the Digital Application, the user can immediately make transfers of any amount within the threshold Value to his registered Recipient;

Each Transaction will generate a reference number which can be used by the user and speed remit support team to track the status of the Transaction;

  1. Transaction Limits

The user may make any number of transactions on one day, but the total of all transactions must not exceed $10,000 [or limit allowed by the company time to time subject to regulations] SPEED REMIT reserves full rights to screen the customer on the basis of any suspicion that occurs during the process.

  1. Transaction History
  1. The SPEED REMIT is responsible of well-functioning of the Digital Application and all records of user’s payments should be reflected in their transaction history in the Digital Application. Users are responsible for reviewing their transaction activity to determine if there are any errors or unauthorised transactions, and for alerting the speed remit in circumstances where there is an error or unauthorised transaction.
  2. It is SPEED REMIT obligation to save a copy of users’ transactions and store KYC and record keeping. If user has cancelled the use of the Digital Application or been terminated, its SPEED REMIT is responsible to safeguard the user’s details under the Privacy Act.
  3. Users date will be save for the period of 5 years.

  1. Protection of Digital Application
  1. The users are responsible to secure their passcode to their mobile telephone and any other authentication credentials used in connection with the use of the Digital Application (collectively the “Credentials”);
  2. Users must change their passwords regularly and ensure that it is not reused in connection with any other online accounts; and must not share with any other person at all;
  3. Users are not allowed to give access of the Digital Application to third party at all. However, If users provide access to or allow a third party to use their Credentials and the Digital Application, this third party may be able to make access and use funds held in their Digital Application. SPEED REMIT, in such an event, will not be responsible; including obligation arising legally;
  4. Any transaction made using users Digital Application is deemed to be received from the registered user.
  5. Users indemnify and hold it harmless from all losses sustained by users and resulting from any misuse of the Digital Application howsoever arising (whether by a third-party accessing users Digital Application or otherwise).

  1. Refusal or Cancellation of aTransaction
  1. At its absolute discretion, SPEED REMIT may refuse or cancel any Transaction;
  2. In the event that SPEED REMIT believes that the Transaction would violate anti-money laundering or counter-terrorism financing laws and regulations it may refuse or cancel a Transaction;
  3. Where SPEED REMIT otherwise believes the Digital Application is being used, whether by the user or the Recipient, in furtherance of illegal fraudulent or unethical activities, SPEED REMIT may refuse or cancel the Transaction and lodge a Suspicious Activity Report at the same time.
  4. Where required by law or if user or a Recipient is on a restricted or prohibited list issued from time to time by any government authorities SPEED REMIT may refuse or cancel the Transaction;
  5. SPEED REMIT may refuse to process a Transaction where it has reason to believe the security of the user Digital Application is compromised or where it suspects the unauthorised or fraudulent use of the Digital Application and speed remit will not be responsible for any losses sustained by the user as a result of any unauthorised or fraudulent use of the Digital Application;
  6. If the user is in breach of any of his/her obligations including but not limited to not providing documents which identify the user to the satisfaction of SPEED REMIT or where SPEED REMIT has sought further information or evidence relating to the purpose of a Transaction in order to comply with its obligations under relevant laws and the user or Client has failed to provide the further information or evidence, SPEED REMIT may cancel or refuse to process a Transaction and may elect to terminate the user’s registration. It may impact the SPEED REMIT licence;
  7. In the event of a temporary or permanent suspension of the User’s registration, SPEED REMIT will be entitled to retain any fees incurred in association with the cancelled Transaction.
  8. Casino, adult industry, online gaming etc are prohibited under this arrangement;
  9. User age 18 or below are not authorized to send remittance or registered them self.

  1. Cancellation and Redemption of Stored Value by Client
  1. Users may make a request for cancellation of their registration at any time by contacting from his registered number or registered email ID to speed remit any matters related to his registration or related to his transaction.
  2. Cancellation of transaction only possible to refund once speed remit get the transaction fund into speed remit account from its payee’s bank will be refund to user account only principle amount of LC, user should inform via email his account details for transferring principle amount of cancel transaction.
  3. In the event where user request a refund of the transaction Value into their GBP bank account, the users should inform SPEED REMIT and reconcile with SPEED REMIT for the refund. The refund will not be made unless it is received in the writing via email from his registered email with speed remit.

  1. COMPLAINTS

1. Please get in touch with us through our Customer Service Teamvia email IDinfo@speedremit.comif you have any complaints about how you have used the Services. We will promptly acknowledge receipt of your complaint.

2. After receiving your complaint, we will work hard to address it as quickly as we can and provide you with a final email response within 2weeks. We will give you a holding reply within 2weeks of receiving your complaint to let you know when you can expect our final response if, in extraordinary situations, for reasons outside of our control, we require further time to respond. We will respond to your complaint in full within 45 days of the date we initially received it.

3. With the exception of complaints pertaining to Digital Content Services, you have six months from the date we sent (or should have sent) our final response to you to file a complaint with the Financial Ombudsman Service if you are dissatisfied with it or if you do not get it in a timely manner. The Financial Ombudsman Service can be reached at:

3.1. Online at https://www.financial-ombudsman.org.uk/make-complaint, you can

reach them.

3.2. You can also write a complaint to the Financial Conduct Authority.

  1. Termination or discontinue service by SPEED REMIT

9.1At any stage, SPEED REMIT may at its sole discretion and without prior notice to user to suspend or cancel service in the event that any of the following occur:

  1. You breach these Terms in any way;
  1. forms the view that you are in any criminal or illegal activity or in breach of any applicable law or regulation;
  2. forms the view that you are involved in any fraudulent activity, money laundering, terrorism financing or are in any way in breach of any provision of the Anti-Money Laundering and Counter Terrorism Financing Act 2006;
  3. suspects unauthorised or fraudulent use of our Digital Application or has reasonable concerns about the security of your Digital Application;
  1. Electronic Communications
  1. User acknowledge that these Terms and Conditions are entered into electronically, and that the following categories of information may be provided by electronic means:
  1. These Terms and Conditions and any amendments, modifications or supplements to them;
  2. The records and transactions in the provision of the Service;
  3. Any initial, periodic or other disclosures or notices provided in connection with the Service, including without limitation those required by law;
  4. Any customer service communications, including without limitation communications with respect to claims of error or unauthorised use of the Service; and

  1. Intellectual Property
  1. Copyright in the App, the SPEED REMIT website and the SPEED REMIT Service, the content, and all intellectual property relating to them and contained in them is the property of SPEED REMIT;
  2. Users are not permitted to duplicate, publish, modify, create derivative works from, participate in the transfer or sale of, post on the internet, or in any way distribute or exploit the SPEED REMIT website, the SPEED REMIT Service or any portion thereof for any public or commercial use without the express written consent of SPEED REMIT;
  3. Users are not permitted to use any robot, spider, scraper or other automated device to access the SPEED REMIT website or the WLP or to in any way remove or alter any copyright, trademark or other proprietary notice or legend displayed on the SPEED REMIT website or any pages you have printed from the SPEED REMIT website;
  4. The SPEED REMIT website are exclusive marks owned by SPEED REMIT WORLDWIDE LIMITED -UK and users are not authorised to use, copy or reproduce them in any way.

  1. Warranties, Liability and Indemnity
  1. SPEED REMIT does not accept liability for any of the following:
  1. any failure to perform the speed remit Service as a result of circumstances which could reasonably be considered to be abnormal or unforeseen or outside the control of SPEED REMIT or the result of obligations under any applicable laws, rules or regulations;
  2. Malfunctions in communications facilities which cannot reasonably be considered to be under the control of SPEED REMIT and that may affect the accuracy or timeliness of messages you send to SPEED REMIT;
  3. Any losses or delays in transmission of messages arising out of the use of any internet or telecommunications service provider or caused by any browser or other software which is not under the control of SPEED REMIT;
  4. Errors on the speed remit or with the connected service caused by incomplete or incorrect information supplied to SPEED REMIT by users;
  5. Losses arising from an unauthorised transaction or any other unauthorised use of the Digital Application where the User has acted fraudulently or negligently;
  1. You agree to indemnify and hold harmless, SPEED REMIT, its officers, staffs or agents and employees from all loss, damage, claims, actions or demands including reasonable legal fees, arising out of your misuse of the WLP and its connected service, all activities that occur under your password or account email login, your violation of these Terms and Conditions or any other violation by you or your users of the rights of a third party.

  1. Amendment

SPEED REMIT notifies you of the amendment, you must give the consent in the writing. Consent after the effective date of an amendment or modification, you shall be deemed to have accepted that amendment or modification.

  1. Waiver

Any waiver by any party to a breach of this agreement shall not be deemed to be a waiver of a subsequent breach of the same or of a different kind.

  1. Governing Law

We both agree that any dispute, claim or other matter relating to offering the SPEED REMIT Online web portal Site or online remittance Mobile App in United Kingdom- brought before the English Courts, will be governed by English Law with jurisdiction in the courts of England and Wales.

Coming Soon

Compliance

Speed Remit works diligently to prevent its systems from being used to perpetrate any unlawful activity. We protect our customers and prevent the use of our products or services by anyone for money laundering, terrorist financing, sanctions violations, scams, and fraudulent intentions. As necessitated, we work with law enforcement to apprehend and impeach offenders.

Speed Remit collect different types of personal information for legal and compliance purposes relating to you that may be Compliance information, including fraud prevention, identity verification, and sanction checks. This may further include using your personal information to validate and authenticate your identity, and utilising third parties to help us do so, using personal information needed to comply with legal and regulatory duties related to anti-money laundering and counter-terrorist financing; detection, prevention and prosecution of fraud and theft as well as preventing illegitimate or prohibited use of our services or other illegal or wrongful activity.

Onboarding customer Identity Verification

Speed Remit is a financially regulated company and required by laws to verify the information prior to onboarding customers. Below are the more information on our verification processes and policies for our onboarding customers.

1. Why does Speed Remit need to verify me?

1.1 Normally, we will only need to check/Screen your name, address date of birth and country of origin.
1.2 We may also do enhance due diligence (EDD) that will be depend on amount to comply with the sending country regulations.
1.3 We will contact you if we need anything from you, so please ensure you check your emails regularly after you’ve made your transfer. In very rare cases the funds remain undelivered in absence of any additional information required under the prevalent laws of the territories.

2. What ID is required for the country I’m registered in?

2.1As a financially regulated company we are required by laws to verify all of our customers. Part of this process is 'identity verification'. Usually this involves collecting a copy of Government issued Valid ID from you and you can upload your ID securely at any time for our screening / verification during registration process.
2.2 Please upload your ID front side and back side to complete your verification process.

3. .Is there anything I need to know before I upload my ID?

3.1 When submitting your ID, please make sure that it's a high quality photo or scan of a valid original government-issued ID card, and the image should be clearly displaying the below information:

- ID Number
- Your Photo
- Your Complete name
- Your Date of Birth
- ID’s expiry date
- The full machine readable zone (the two lines of letters and numbers at the bottom of the document) if present
- Resident Address

3.2 The complete name and date of birth must match with your details on your Speed Remit account.

3.2 If any details do not match, please contact the Speed Remit Customer Support team (sr.cs@speedremit.com) to have your details amended. For more information on this click "My Account" option

4. What types of ID can I use?

4.1 In case the Government issued ID card is not available incidentally at the time of registration / transaction, we may alternatively accept below ID's in case it is allowed your local central bank / financial regulator. At the end of the day, you must be holder of a valid ID even if you are unable to present it at the time of transaction.

- Driving License
- National ID
- Passport - All four corners of the document must be visible and it should visibly display the vital information.

4.2 Always upload the front and back of the ID or any alternate document (if any). The document number must be visible and there should be no glare or defocused image.
* Must match the details in your Speed Remit account

5. What is address verification?

Address verification is part of our customer verification.

5.1 If we need to verify your resident address we will contact you by email. You’ll need to reply to the email with your address and any proof of Address document as an attachment e.g. Last Utility Bill etc.

5.2 When submitting your proof of address, please ensure that it is a high quality photo or scan of a valid document showing:

- Your full name
o This must match what appears on your Speed Remit account
- Your full Resident address
o This must match what appears on your Speed Remit account

5.3 The name and address on the document must match the details on your Speed Remit account.

5.4 If any detail does not match, you can update them on our app or website by visiting the My Account Option of the Speed Remit.

6. What types of document you required to accept for address verification?

6.1 ID documents we can usually accept include:

- Utility Bill
o This can be a gas, electricity, water or insurance bills.
o We can’t accept mobile phone bills
o The bill must be no older than 3 months
- Driving Licence
o This must show your address
o This must be in date – we cannot accept expired documents
- Bank / Credit card statement
o This must be no older than 3 months

6.2 If your document is not accepted, it could be for a number of reasons. Some of the reasons documents cannot be accepted are:

- The date on document
o If the document is older than 3 months, we cannot accept it
- The details on your document
o The details (including name and address) on the document are not matched with information on your Speed Remit account
o The details must be for your home residence, not a PO Box or workplace
- The document type
o The type of document may not be one we can accept (for example a mobile phone bill)

7. What happens to my personal information after I upload it?

7.1 We only use these when we are completing Know Your Customer (KYC) checks, which is an essential process.

7.2 You can read more about our privacy policy and how we use your information here.

8. Need to send us your documents?

8.1 TIf we've emailed you and asked you to send us some documents, use the link in our email to upload your photo ID or selfie, and provide your proof of address by attaching it and replying to our email.

- To provide your photo ID or selfie: use the shared link in the email, or upload them here:
o Photo ID
o Selfie
- To provide your proof of address or any other document, reply to our email with your document as an attachment

Be our Agent

Speed Remit is expanding and intend to widen our presence in order to provide our customers with remarkable services across the world. We offer a great opportunity for worldwide regulated money transfer companies/ Banks to join speed remit Network as send and receive agent, simply fill in the form below. We’ll get back to you as soon as possible.