General Terms and Conditions
General Terms and Conditions of Mayzus Financial Services Ltd. regulating the rights and obligations relating to the provision of payment services – payments to/from abroad carried out through an agent (representative)
- The Mayzus Financial Services, Ltd. company, established 42 Upper Berkeley, St. Marylebone, London W1H 5QL, ID: 6721866 registered in The Registrar of Companies for England and Wales, e-mail: email (hereinafter “MAYZUSFS”) provides its customers (hereinafter “Clients”), inter alia payment service on payment, as amended (hereinafter “Financial Services”) consisting of mediation of funds transfers to/from abroad on the basis of entry in register of FCA as Authorised Payment Institution. MAYZUSFS company provides that service through its contractors (collectively, the “Partners”) involved in the electronic on-line information system MoneyPolo (hereinafter “The System”) under which this Financial service is provided. List of contracting partners with whom financial service can be implemented, including addresses (hereinafter “Pay-out points”) and a list of currencies (hereinafter “Currencies”) in respect of each of the partners, in which payment may be carried out by appropriate partners, can be viewed at every location of MAYZUSFS (hereinafter “Branch”), and also on the MAYZUSFS website www.moneypolo.com
- MAYZUSFS company provides financial services through its sales representatives (collectively, the “Representatives” and individually “Representative”), with whom it has concluded appropriate commercial agency contracts and who have been authorized by MAYZUSFS company among other things, to conclude contracts of one-time payment transactions on the basis of which the Representatives on behalf of MAYZUSFS are mediating the disbursement of funds to clients on the basis of instructions of the Client (hereinafter referred to as “one-time transaction”), to the person designated by the Client (hereinafter “Recipient”).
A client who intends to use the financial service, must appear in person in the appropriate office or in another place agreed with the representative in order to carry identification or control and there provide to the representative following:
- your personal data (name, surname, date of birth, permanent address, or current residence address or mailing address, telephone number, respectively e-mail address if available, citizenship) and show a valid identification card with your own portrait (photos) to obtain its photocopy or scanned version and record type and ID number, state, respectively authority that issued it, and its validity period, these documents must be submitted in English, Czech or Russian language or must be officially translated into one of these languages,
- the purpose and intended nature of the business or the business relationship and the source of received funds,
- amount and currency of the funds which are to be the subject of one-time transaction requested by the Client and which are for this purpose received from the Client (hereinafter referred to as “Received Funds”),
- requested Pay-out point in which transferred funds are to be paid out to the recipient, in any of the currencies determined by appropriate partner (hereinafter “disbursement”), the name and the surname of the recipient and current telephone number for the recipient.
- If a representative on behalf of MAYZUSFS company does not reject to provide requested Financial service to the Client, he shall promptly notify the appropriate amount of the total fees that Client will be charged for the given one-time transaction after the previous increase of the respective representative commission (hereinafter “Fee”), and the exchange rate to be used for the currency conversion of the received funds to the currency of the transferred funds (hereinafter “exchange Rate”), provide him with any information in relation to the financial services.
- Following the pre-negotiated terms of one-time transactions and pre-approval between Representative acting on behalf of MAYZUSFS company and the Client, Representative will supplement with the Client’s consent all necessary information for the implementation of one-time transaction (particularly the identification data of the Client, Recipient identification data, data on one-time transaction and the exchange rate, transaction code (unique identifier), under which the funds will be disbursed to recipients – collectively referred to as “Code”) in electronic form of the System or where appropriate other relevant system (hereinafter “form”), which then printed and submitted to the Client to read, review and approve. If the client agrees with the contents of the Form, as well as with the accuracy of data provided he will confirm execution of the transaction with a handwritten signature. The client is obliged to carefully protect assigned code, and other information related to the one-time transaction against its loss, misuse or any publication, and notes that the MAYZUSFS company or its representatives assume no liability for any misuse or other damage caused in connection with the publication, loss or misuse of the code or other information.
- The contract between the Client and the MAYZUSFS company is concluded at the very moment when all following conditions are fulfilled: a) The representative, respectively person authorized to act on his behalf, and the Client will affix printed form with their signature, b) Client passes the entire amount of funds received to Representative and c) the Client pays the appropriate fee (including representative commission).
- MAYZUSFS company will transfer information regarding the payment of recipient’s disbursements to the appropriate system shared with the relevant partner on the basis of data entered into the of the System by the representative latest. Based on this transfer information, responsible Partner will be prepared to pay out the disbursement to the Recipient at the particular pay-out point within agreed period for settlement during his ordinary working hours, on the basis of proper identification of the recipient and the provision of the Code and fulfilment of any other disbursement conditions by the recipient (in particular the conditions required under the legislation, including provisions against money laundering and financing of terrorism.
- In the case of a payment service of cash remittance from abroad, the procedure for identification or Recipient’s control is similar to the particularly described for the sending of the transactions. The recipient is obliged, inter alia, to convey the code (unique transaction identifier) assigned to the payment service to the representative and communicated sender of funds abroad is obliged to confirm properly his identity and allow acquisition photocopies or scanned versions of submitted papers and documents. In the case when conditions are not fulfilled or in the event of doubt about legitimacy of transferred funds payment to a particular person representative is authorized to deny implementation of such payment.
- A client who intends to use the financial service, must appear in person in the appropriate office or in another place agreed with the representative in order to carry identification or control and there provide to the representative following:
Other Conditions of Providing Money Services
- The client is entitled to unilaterally change or cancel a one-time transaction in writing (withdraw), and that is only till the moment when respective Partner pays disbursement to the Recipient (hereinafter „the cancellation conditions“). After the disbursement is paid to the recipient, one-time transaction can no longer be changed or cancelled (withdrawn).
- A client that intends to change or cancel (withdraw) one-time transaction must appear in person in the MAYZUSFS company location, in representative’s relevant office or in the other place pre-arranged by the representative for these purposes and fill in appropriate application to change or Cancel (withdraw) one-time transaction (hereinafter “request for change/cancel”). Properly, fully and truthfully completed and signed by the Client Request for change/cancel should be forwarded by the Client directly to MAYZUSFS Company or through its representative, which with no further delay after Request reception will examine whether the cancellation conditions are fulfilled. If the cancellation conditions are met, the MAYZUSFS company will directly or through its representative return the Received funds to the Client in cash at the MAYZUSFS company’s branch, in relevant representative’s office or at another place pre-agreed for this purpose with representative, in which case MAYZUSFS company is entitled to reimbursement of cancelation fee equivalent to the Fee (hereinafter „the cancellation fee“).
- The Client is obliged to pay a fee for one-time transaction through the MAYZUSFS company’s representative, which is determinated on basis of amount of Received funds for given one-time transaction according to the current MAYZUSFS company’s tariff valid on the day of agreement concluding and is increased by the appropriate representative’s commission. Current tariff is available in each branch; MAYZUSFS Company reserves the right to make changes in the tariff at any time. Information on the current amount of representative’s commission is available at its establishments or on its website. The Client is obliged to pay an additional fee at the latest together with the appropriate amount of Received funds for given one-time transaction. The fee is determined and paid in CZK, EUR, USD or any other currency determined by the MAYZUSFS company; the currency details or always stated in the Form.
- The MAYZUSFS Company’s exchange rate is applied for the conversion of the amount of received funds to the appropriate foreign currency of transferred funds for given one-time transfer stated in the Form. Information on the representative’s current exchange rates is available in relevant representative’s establishment or its webpage.
- In case when payment of disbursement to the recipient is not implemented, particularly because recipient does not collect disbursement personally (or does not fulfil any other of pay-out conditions), the MAYZUSFS company provides through it’s representative an appropriate cooperation, that can be reasonably requested of the MAYZUSFS company, to the Client on his request, to eventually remove hindrances stopping pay-out implementation. In case when these hindrances will not be removed and transferred funds will not be paid out based on the relevant one-time transaction the obligation of the MAYZUSFS company, or its representative respectively, to implement disbursement pay-out to the Recipient lapses. In case of the implementation of disbursement pay-out failure was not caused by MAYZUSFS company or its representative respectively (i.e. especially by reason of incorrect or false information provided by the Client, fact that the Recipient did not collect the disbursement or failed to fulfil any other condition of its pay-out implementation), the MAYZUSFS company has right to claim its remuneration corresponding to the amount of the Fee for given one-time transaction, regardless of the fact that the payment was not implemented. The MAYZUSFS company directly or through its representatives will return the amount of funds in cash and in same currency, deposited by the Client for the purpose of given one-time transaction (i.e. the amount of Received funds) upon the written request without undue delay, after previous offset of remuneration corresponding to the amount of the Fee to which the Client undertakes to provide all necessary assistance. At any case the Client is obliged to request the refund within the limited period of time and in manner provided for filling a complaint otherwise such applications will not be taken into account and all Client‘s claims related to the one-time transaction will lapse.
- MAYZUSFS company and its representatives are at any time entitled to refuse to provide financial services, respectively to refuse to conclude an agreement with any person, especially (but not exclusively) in case when conditions of agreement conclusion are not fulfilled, respectively of one-time transaction and/or if so provided by the law (in particular Act on some measures against the legalisation of proceeds from crime and terrorism financing) and/or if the MAYZUSFS company or its representative has a suspicion of Client’s fraudulent or other unlawful acting against company. In case of refusal the MAYZUSFS Company will inform the Client about reasons of such refusal directly or through its representatives, unless it is not in contravention with the legal requirements and / or the decision or order of the relevant competent state agency or court.
- In case when the transaction has not gone through in accordance with the agreement, the Client is entitled to make a complaint against MAYZUSFS company (hereinafter referred to as „Complaint“). Complaint must be made in written form, on the current appropriate MAYZUSFS company complaint protocol; the protocol is accessible in electronic form at MoneyPolo Customer Support (email), or in a paper form at any branch. Properly completed complaint protocol, signed by the client, must be delivered to the MAYZUSFS Company together with copy of the Form, not later than thirty days after the day of the conducting of relevant one-time transaction, which is the subject of Complaint. Failure to do so will lead to disregarding of such a complaint and any Client’s claims regarding one-time transaction will expire. On the basis of proper Complaint made in time, the MAYZUSFS Company will initiate an investigation regarding the one-time transaction, which is the subject of Complaint (mainly consisting of obtaining information and documents from the relevant Partner regarding the conduction of one-time transaction). According to the disclosures made during the investigation, the MAYZUSFS company will decide on the complaint within five working days from the day of Complaint’s proper application, and will communicate its decision together with the explanation to the Client (by phone, e-mail and/or fax). If the complaint is justified, the MAYZUSFS Company will refund the same amount in the same currency as provided by the Client for given one-time transaction (i.e. Received funds) directly or through its representatives as prescribed by the MAYZUSFS Company. In connection with the complaint settlement, the Client is obliged to provide all necessary assistance to the MAYZUSFS Company or its representative.
Fulfillment of Legal Obligations
- The MAYZUSFS company, Representative, the Client and the Recipient have to perform all duties and respect all restrictions and conditions established by the valid laws and regulations as their object is to fight the legalisation of proceeds from crime and terrorism financing and further to perform all duties and respect all restrictions and conditions established by Act on the implementation of international sanctions.
- In order to fulfil the above obligations, the MAYZUSFS company, respectively its Representative, the Client and the Recipient will provide in this direction utmost possible cooperation; the Client is obliged, on the MAYZUSFS company, its representative or its authorised person’s request, mainly to allow Client’s identification and/or control, under the applicable provisions of Act, as amended, and in particular for this purpose to promptly submit all requested documents, information and explanations and all requested entirely and truthfully completed forms and questionnaires, in particular to establish/verify actual owner, to review sources of Client’s funds, to verify the purpose and intended nature of one-time transaction etc., while in case of incorrect, incomplete or false information provided, the MAYZUSFS company and its representatives do not assume any liability for damage or harm to the client, recipient or any other third party, occurred as a result of such incorrect, incomplete or false information provided. Any changes in information provided by the Client in connection with financial service (particularly change in contact details, intended nature of the business or source of funds) must be immediately (within five working days) reported to the MAYZUSFS Company in verifiable manner (in writing).
- The Client acknowledges that the MAYZUSFS company or its Representatives are entitled to postpone conduction or event not to conduct one-time transaction at all, provided that this is requested or allowed by the law, in that case the Client will be informed about this fact, if it does not conflict with legal requirements and/or a decision or order of the competent governmental authority or court. The Client also acknowledges that the MAYZUSFS company will report so called suspicious transactions, directly or through its representatives through the relevant government departments, if this legislation requires so.
- Supervisory authority over the operations of MAYZUSFS company in providing Financial services is Financial Conduct Authority, 25 The North Colonnade London E14 5HS, UK. Complaints about the MAYZUSFS Company or its representative’s policy can be addressed to this authority, if the legal provisions relating to the Financial services were violated by the MAYZUSFS Company or its representatives. Before using the right to file a complaint of before submitting the proposal to initiate legal or administrative proceedings, the Client/Recipient is obliged to use the possibilities of amicable extrajudicial solution with MAYZUSFS company in a way that this company will deliver a complaint in accordance to these General Terms and Conditions, or a written request to amicable settlement of violation of legislative provision of object of the Client’s/Recipient’s argument. In case that the Client/Recipient does not respond to this request, which besides the description of violation of legislative provision, its title respectively, includes the necessary identifying information about the Client/Recipient, including his mailing address, and about relevant one-time transaction, within 30 days from the day of MAYZUSFS company’s request delivery, the MAYZUSFS company will consider that Client’s/Recipient’s obligation to use amicable extrajudicial solution was met.
- Any information related to the particular Financial services/one-time transactions/agreements is provided by the MAYZUSFS company and its representatives to the Client in the Czech, Russian or English language All the communication among the MAYZUSFS company, its representatives and the Client, related to the Financial services/one-time transactions/Agreements is in the English Language. It is considered explicitly that the Client does understand all communication or any relevant text in the English language.
- These General Terms and Conditions are the integral part of each Agreement, each Agreement, respectively Form, contains an explicit reference to the General Terms and Conditions. By signing Forms (agreements) the Client concurrently give his explicit, complete and unconditional consent to the current General Terms and Conditions. By signing forms (agreements) the Client further acknowledges that he was acquainted with the content of General Terms and Conditions before conclusion of the Agreement, and that it has been properly and fully disclosed, respectively provided all information requires by the law, as well as any information about his/her rights under GDPR.
- Current version of full General Terms and Conditions of MAYZUSFS Company is also posted at each branch. Texts of relevant generally binding legal regulations related to the financial services are located at each branch and establishment, as well as all information related to the financial services, which should be provided or made available to the client.
- The MAYZUSFS company reserves the right to change General Terms and Conditions without prior notice.
- These General Terms and Conditions come into effect on 24 May 2018.