Terms and conditions
The following terms and conditions apply to customers who are transacting through Flyworldmoney Constitution of this agreement:
This is the master agreement which applies to all transactions you subsequently enter into with us. All the Transactions or other specific details of each individual Transfer Request will be agreed independently each time you book those Transfer Request, they will constitute separate agreements incorporating these Terms and Conditions.
Documents to read:
(which are published on our Website) and that you have read and understood and agree to the contents of the said documents.Keep updated:
Please review the information contained in this document before undertaking any transactions, as it may change at any time, without notice.Headings:
The section headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement, as an individual, or as a sole proprietor, trust, partnership, registered companies, registered associations, registered co-operatives or in the capacity of other statutory bodies.
These terms and conditions ("Terms and Conditions") govern the terms under which you may access and or use the website (for the purpose of these Terms and Conditions “website” will include our Online Portals and App, where applicable) and the services associated with it (together, the "Money Transfer Service"). Any specific instruction or request for our Money Transfer Services are referred as “Transfer Request” herein.
The language of these Terms and Conditions is English and all services, instructions and all transactions carried out in connection with it shall be in English.
2.Our payment servicesInternational money transfer services:
As a Remittance Network Provider we are registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and are authorized to provide international money transfer services. You should read service-related information published on our Website to know how our Money Transfer Services operates. Money Transfer Services of Flyworldmoney is offered to Customers through our internet website/portals.No financial advice:
Flyworldmoney does not provide any Margin or Speculative Trading services or Foreign Exchange Forward Contracts or Financial Advice.Use of correspondents:
Flyworldmoney offers electronic payments of cleared funds to the beneficiary by direct credit to a nominated bank account or in cash or in electronic form through a ‘correspondent’ located anywhere in the world.Limitations:
Flyworldmoney services are subject to various limits and specifications such as time-limits, Transfer Request limits, fees which could be generic or specific to certain remittance channels, currencies, countries, mode of payout/pay-in.Services to registered customers only:
Flyworldmoney shall be available only to Customers who are approved by Flyworldmoney after they successfully complete the registration process. Flyworld may at its sole discretion may deny any or all services to any Customer, without assigning any reason whatsoever. All Customers have the option to use our online portal for completing the registration and for undertaking Transfer Request.
3.Customer registration & due diligenceRegistration process:
All new Customers are required to complete the registration Process as mentioned here below, before initiating a Transfer Request.
(a) Customers may initiate their registration process online.
(b) Before availing our services, all customers are required to complete the KYC process and the registration is to be approved by us.
(c) All Customers (including authorised signatories of corporate Customers) are required to submit valid identification documents and proof-of-address documents as stipulated by Flyworldmoney.
(d) All documents submitted to Flyworldmoney are to be either self- attested or verified and certified as ‘true-copies’ by authorized persons.
(e) You will be solely responsible for the genuineness of each and every document and information submitted to Flyworldmoney.
Flyworldmoney may alter or amend the verification process, registration process as it deems fit to ensure regulatory or policy compliance. We may also appoint agents or authorized personnel or third parties to complete the customer identification and verification process. You consent to verify your identification details using data verification services (DVS), if required to register you as a CustomerSuspend or cancel the registration:
Flyworldmoneymay at any time suspend or cancel the registration of a Customer at its sole discretion, without assigning any reason whatsoeverDue diligence:
Flyworldmoney may require certain Customers to undergo additional due diligence process either during the registration process or at any time in future and a Customer’s right to use Flyworldmoney services shall be contingent upon successful completion of the due-diligence process.Change in customer registration details:
In the event of any change in the content or status of the primary identification documents and/or address documents and/or bank account details, you undertake to promptly inform Flyworldmoney and/or submit request through your profile on the Portal.Information binding on you:
All information you have saved on the Portal including but not limited to your primary details, bank account details, beneficiary details will be binding on you
4.Transfer RequestInitiating transfer requests:
You may initiate online money transfer requests through our Portal or App, after completion of your registration.Transfer requests binding:
Money Transfer requests received by us shall be legally binding on you as soon as we receive your electronic money transfer request.Confirmation of the transfer requests:
We will provide you with confirmation of the Transfer Requests on the screen at the time you book the Transfer Requests. After you complete submission of a Transfer Request, we will send you an email of the Transfer Requests. The confirmation constitutes an error correction mechanism only. If you do not contact us immediately on receipt of the confirmation, the Transfer Requests details will be deemed to be correct.Only bonafide transfer requests:
You undertake to initiate only bonafide Transfer Requests through us and to be fully responsible for all actions on your part which are in contravention of any rules/regulations that govern remittance services.Mistakes from the customer:
While making a money transfer request, it is your sole responsibility to input all required information in a correct and complete manner, to facilitate error-free payment to the beneficiary. We shall not be responsible for losses resulting from incorrect or incomplete information submitted by you.Beneficiary account:
You acknowledge that, while making money transfers to the bank accounts of beneficiaries, we will rely solely on the account number and bank details you give us for your Beneficiary Account and will not check to ensure that the name provided by you accords with the account number you have given us.Security of the username and password:
You will be responsible for ensuring the security of the username and password used to access our Portal. We shall rely on any instructions received pursuant to the use of the username and password without checking the identity of the user and you will at all times be bound by those instructions.Right to refuse to provide our service:
We shall always endeavour to comply with your instructions as quickly and as efficiently as possible. Nevertheless, we reserve the right to refuse to accept your instructions or to process the Transfer Requests and to do so without giving you any reasons and without incurring any liability to you for any resultant loss or damages incurred by you or any other party.Right to re-quote the exchange rate:
You agree that the exchange rate we quote for A transfer request is contingent on the prompt performance of your obligations in To that Transfer Request. We reserve the right to re-quote the exchange rate if you fail to provide with required information or funds on time.Out-of-market quote:
You agree that if due to human or technical error, we quote a wrong exchange rate that is clearly a mistake on our part ("Out-of-Market Quote"), it will not be binding on us. You also agree to inform us as soon as you notice the mistake.Personal warranties:
While entering into a Transfer Request with us, you also confirm that.
(a) You are the lawful owner of the money you intend to transfer,
(b) You are over the age of 18,
(c) You are not acting on behalf of another person and that you will inform us if you are acting as a sole proprietor of a business, a trustee of a trust, a partner of a partnership or as a representative of a company,
(d) If you are not making Transfer Request in your capacity as an individual that you are properly and lawfully authorized to enter into this agreement and any Transfer Requests with us,
(e) You will not enter into any Transfer Request with us for speculative purposes,
(f) Your decision to enter into a Transfer Request with us is entirely yours and that you will not rely on any information that may be provided from time to time by us on our Website or by our employees or consultants,
(g) You are not using our Services for money laundering or terrorism financing activities,
(h) You will provide all required additional KYC documents and source of funds if required to precede your transfer request or to complete any due diligence on you at any time.
We have implemented and will maintain security systems for the transmission of our Customer’s Transfer Requests, consisting of encryption and "firewall" technologies that are understood in the industry to provide adequate security for the transmission of such information over the Internet. We do not guarantee the security of the Services or Transfer Request data, and we will not be responsible in the event of any infiltration of its security systems, provided that we have used commercially reasonable efforts to prevent any such infiltration. Customer further acknowledges and agrees that Customer, and not we, are responsible for the security of Transfer Request data or information or any other information stored on Customer’s servers, and that we are not responsible for any other party's servers.
5.Pay-in policyPayment of customer fund:
For all Transfer Requests you make, you agree to either deposit the transfer amounts and the applicable fees into our designated bank account on the same day.State customer unique ID:
It will be your responsibility to quote your Customer Unique ID, Transfer Reference Number(TRN), correctly when you deposit the funds directly into our bank account.Cash and cheques not accepted:
You acknowledge that we may not accept cash or cheques and you agree to make all payments to our account electronically.Pay-in methods:
We may offer you multiple methods like internet bank transfer,Poli pay to transfer your money to us.Payin methods are not part of our Money Transfer Services, they are services provided by third parties. We cannot guarantee the use of any particular Payin Method and may change or stop offering a Payin Method at any time without a notice to you.Settlement delays:
Your Transfer Requests can be processed for settlement only after receipt of your funds into our designated bank account and you acknowledge that any delay on your part to remit funds could result in settlement delays.Funds not received in time:
If we do not receive the funds in time, we reserve our right to rollover or cancel the Transfer Request, without notice to you and you shall be liable to reimburse us all consequential losses, additional costs, including loss of exchange on account of rollover and/or cancellation.Full amount:
In the event that we agree to make a payment for you without having received the full amount, you acknowledge that we are not waiving our right to claim the full amount after the Transfer Request has been processed.Fund held by us:
You acknowledge and agree that we do not hold your funds on trust and will not put your funds into a separate bank account.
6. Pay-out policyMode of pay-outs:
Your Transfer Request will be paid to the beneficiary as per the payment service chosen by you at the time of booking the Transfer Request.Funds transmit:
You acknowledge that we will transmit your funds by electronic means only.First-in-first-out:
You acknowledge that, when more than one Transfer Request is awaiting settlement, though First-In-First-Out will be the general rule, we may make any single pay-out in preference for another, at our sole discretion and convenience.Services of correspondents:
We may use the services of Correspondent(s) to give effect to your money transfer requests. A ‘Correspondent’ could be a bank or an agency or a payment service provider, located anywhere in the world, who acts on our behalf, directly or indirectly.Correspondents fees and charges:
A Correspondent who acts on our behalf may at times deduct additional fees and charges from the funds transferred by us, so that the beneficiary may receive an amount that is less than the payout amount shown in the Transfer Receipt and debit the fees and charges to our account held with the ‘Correspondent’. In the latter case, you agree to reimburse us, all such charges and fees paid to the Correspondent.Delivery of funds :
Delivery of funds to the beneficiary as ‘Bank Account Deposit’ will normally be completed within 1-3 business days (Expected Time) and if the beneficiary's bank/branch/payout location is different from the Correspondent Bank, it may take additional time to forward funds to the beneficiary's branch/bank.Enquiry:
Where the funds are not available for payment to the beneficiary by the Expected Time you may request us to generate on behalf of you an enquiry into the delay (the enquiry). Where the delay is not caused by us you will indemnify us for all or any costs or expenses incurred by us as a result of generating, carrying out and completing the enquiry including without limitations, legal costs on a solicitor and client basis.Delay beyond expected time:
The transfer of the funds may be delayed past the Expected Time due to circumstances beyond our control that includes but are not limited to cut off times for transmissions imposed by the Correspondent, delays or complications in past or otherwise, delays, errors or omissions in transit or transmissions; acts or omission of a correspondent or any other third party or delays and complication in overseas banking/payments system.No claim for damages:
To the maximum extent permissible by law, neither we nor any of our employees accept responsibility and will not be liable for any loss or damage resulting from delays that arise as a result of the circumstances specified above or any act or thing done or omitted to be done by us while acting in good faith on your instructions.Your mistake:
If your funds are sent to the wrong beneficiary as the result of a mistake made by you, and we have acted in accordance with your Instructions, we will be under no obligation either to recover the funds or to resend the funds to the correct beneficiary account. You will need to book a new money-transfer- request.Our mistake:
If your funds are sent to the wrong beneficiary as the result of a mistake made by us, we will take urgent action at our own expense to recover those funds, provided that you take immediate action to assist us to recover any such funds if the mistaken beneficiary is related to you or associated with you in some way.
7.Amendment policy:Amendments to processed transfer request:
Issuing amendments to Transfer Request already submitted could result in delays in settlements and may incur additional charges. We may at our sole discretion accept or refuse to act on such requests.Amendments to beneficiary details:
If you wish to make amendments to beneficiary details after booking a Transfer Request, the request must be submitted online through the Portal. Based on the status of the Transfer Request, following actions may be taken;
(a) If the booking of the Transfer Request is incomplete and still under process, amendments shall be processed as required by you.
(b) If the payment instructions have already been transmitted to our Correspondent, wherever possible we shall forward the requests. However, such requests will be subject to the rules and regulations in the destination country.
(c) If the payment has already been effected to the beneficiary by the Correspondent before amendment requests are received by them, no amendment will be possible.
If we receive intimation from our Correspondent that your payment cannot be effected due to incorrect beneficiary details furnished by you, we shall notify the same to you on your registered email address. If a suitable amendment request is received from you immediately, the same shall be transmitted to our Correspondent, without any risk and responsibility on our part.Retrieve and return:
If no such amendment request is received from you within a reasonable time, we shall take all efforts to retrieve and return the funds to you.Amendment charges:
All amendments shall be issued at our sole discretion and will be subject to you paying additional amendment charges, if any.
8.Cancellation policy:Cancellation confirmation:
A Transfer Request once booked is legally binding and shall not be treated by you as cancelled in any circumstances, unless and until you receive an email or written confirmation of cancellation from us.Processed transfer request:
We may not be able to stop or cancel a payment if it has already been processed by us.Cancellation by us:
Any Transfer Requests booked by you may be cancelled by us under following circumstances, without notice to you;
(a) We have reasons to suspect the genuineness of the Transfer Request or feels that the Transfer Request could contravene any regulations or policies in force.
(b) The information or documents provided by you are incomplete or incorrect and not sufficient to proceed with the Transfer Request in a time bound manner.
(c) You have failed to remit amounts payable to us, to our designated bank account within the stipulated time.
(d) The payment could not be effected to the beneficiary and the funds are or will be returned by the Correspondent.
If you wish to cancel a booked Transfer Request, the request must be made online through the Portal. Based on the status of the Transfer Request, following actions will be taken;
(a) If the payment is under processing, cancellations shall be processed as required by you.
(b) If the payment instructions have already been transmitted to the Correspondent, Flyworldmoney shall at its sole discretion, cancel a Transfer Request subject to the condition that we should either have confirmation from the Correspondent that funds have not been and cannot be delivered to the beneficiary for valid reasons and/or you should submit satisfactory documentary proof of non receipt of funds from the beneficiary
Actual time taken for completing a cancellation process may vary and is dependent on the stage or status of the Transfer Request when the request is received by us or by our Correspondents.Retrieve funds from beneficiary:
If the payment has already been effected to the beneficiary by the Correspondent before the cancellation request is received by them, no cancellation will be normally possible. However, if you still wish to have the funds retrieved, wherever possible, such requests shall be forwarded by us to the Correspondent without any risk and responsibility on our part. It will be your responsibility to engage with the beneficiary to have the funds repatriated.Refund of cancelled transfer requests:
While making a cancellation request, you acknowledge and agree that we may not be able to return the original Transfer Request amount in full and the amounts finally payable to you will be after deducting;
(a) Transfer Request fees/cancellation charges of Flyworldmoney as well as that of our Correspondents,
(b) any foreign exchange losses incurred by us or our correspondents, and
(c) any out of pocket expenses incurred by us.
In all cases of cancellations, the amounts payable to you shall be returned only after the amounts are actually received back into our bank account. If for any reason we agree to refund the amounts to you beforehand, you agree to submit to us a valid Statutory Declaration indemnifying us, as per the format prescribed by us.Refund only through the same channel:
Refund on account of cancellation of Transfer Requests shall be made only to your "My Account" in our Portal through which the Transfer Request was initiated.Refund in the same currency:
All amounts refunded to you shall be in the currency originally tendered and the currency conversions shall be done at the exchange rates prevailing at the time of cancellation.Not entitled to any gain or profits:
You agree that you shall not be entitled to any foreign exchange gain or profit we may get on account of cancellation of a Transfer Request.Loss incurred by us during cancellation:
You acknowledge that the amount of any loss realized on the cancellation of a Transfer Request is a debt payable by you and agree that we may immediately deduct the total amount of any loss (together with any expenses or other fees) from any funds we hold in relation to any Transfer Request. If the amount we are seeking to recover exceeds the amount available in your "My Account" or other funds held by us, you agree to pay the balance within seven days of being notified by us of the total amount due.Interest on unpaid amount:
You agree that we may charge you interest on any sum that remains payable to us after we cancel any or all of your Transfer Requests at a rate of two per cent per annum over the cash rate target of the Reserve Bank of Australia (or of such monetary authority as may replace it). Interest will accrue and will be calculated daily and be compounded monthly from the date the payment was due until the date full payment is made by you
09.Limitation of liability:Delay in payments:
You acknowledge that our services involve the use of intermediaries, technical platforms, internet, performance of which are outside our control. Though we make our best efforts to ensure the promptness and quality of the money transfer services we offer, we cannot guarantee that transfers of funds will always be made on time.Damage or loss :
You agree that we shall not be held liable for any damage or loss suffered by you consequent upon delayed payment to your beneficiary or due to our refusal to transfer funds on your behalf.Liability actual amount only:
Our liability to you shall at all times remain capped at the amount you have actually paid to us in relation to any particular Transfer Request and/or to the amounts we hold on your behalf by way of Pre-Funding or otherwise.
10.Compliance with anti-money laundering and counter-terrorism financing ("AML/CTF") laws.AML/CTF compliance
We are subject to AML/CTF Laws. Accordingly, you consent to us disclosing in connection with AML/CTF Laws any of your Personal Information (as defined in the Privacy Act 1988) we may have.Collection of information by us:
If requested, you undertake to provide additional information and assistance and comply with all reasonable requests to facilitate our compliance with AML/CTF Laws in Australia or an equivalent overseas jurisdiction. If you fail to provide to us upon request any information that we are required under the AML/CTF Laws to collect from you, we retain the right, at any time, to refuse, in our sole discretion, to provide our Services to you.Source of income:
Flywolrdmoney requests are initiated, only upon ascertaining veracity of the Transfer Request from the remitter; evidencing source of income and/or convincing such Transfer Requests are initiated for bonafide purposes. Scanned copies of valid supporting documents have to be either uploaded via the Flyworldmoney Portal or sent to us immediately after submitting a money transfer request and/or upon request. Flyworldmoney shall process such Transfer Request only after ensuring compliance with regulations.Right to refuse to provide our service:
We strictly prohibit anyone from using our Portal or services for fraudulent or illegal purposes. You undertake that you will not knowingly do anything to put us in breach of the AML/CTF Laws, rules and other subordinate instruments. You undertake to notify us if you become aware of anything that would put us in breach of AML/CTF Laws. You also undertake to refrain from making Transfer Request beyond the threshold limit set by us as a part of our Ongoing Customer Due Diligence.No grounds for suspicion:
You undertake that you are not aware and have no reason to suspect that the money you are transferring is derived from or related to money laundering, terrorism financing or similar illegal activities and/or the money you are transferring will be used to finance, or in connection with such illegal activities.Your obligation on AML/CTF compliance:
You declare and undertake that the payment of funds to the beneficiary in accordance with your instructions by us will not breach any law in Australia or in any other country.Freezing or blocking transfer of funds :
We may delay, block or refuse to process your Transfer Requests or to make payment if we reasonably believe that processing the Transfer Request may result in breach of any law within Australia or any other country and we will incur no liability for not processing or completing such Transfer Requests.Indemnity on freezing or blocking transfer of funds :
You agree to indemnify us if we are found liable to a third party in connection with the freezing or blocking of your account
11.KYC (Know your customer) rules & privacy :
Interpretation:The words "Personal information "used in this clause has the same meaning as it is defined in Privacy Act 1988.Who may receive your information:
Collection of your information is essential for us to service the relationship and the business operations. Without the Personal Information that we request you to provide, we would not be able to provide you our services. You agree that we will usually disclose Personal Information of the kind that comprise or will comprise your Personal Information to any of the following types of organizations or individuals.
(a) Providers, contractors, correspondents and external advisers who we engage to carry out our functions and activities from time to time or who assist us to carry out such functions and activities
(b) Your executor, administrator, trustee, guardian or attorney
(c) Regulatory bodies, governments agencies and law enforcement bodies; and
(d) Other parties to whom we are authorized or required by law to disclose Personal Information to.
Subject to any restrictions imposed on us by the Privacy Act 1988, you agree and consent to any disclosures by us of your Personal Information to an organization of these types for any of the purposes listed above.Access and update personal information:
If you are requesting to access personal documents please include a certified copy of some form of photographic identification (such as a Passport or Driver’s license) to assist us in processing your request. Access may be withheld or provided subject to Privacy Act 1988.Legal requirement of personal information:
We collect Personal Information only by lawful and fair means and ensure the protection of any Personal Information we collect is as required by Privacy Act 1988.Compliance with AML/CTF act :
Any Personal Information collected may also be used to monitor compliance with the AML/CTF Act, the regulations and the AML/CTF Rules.Disclosing personal information to authorities:
We may disclose Personal Information which you provide to authorities where required by law in Australia or any other country who is authorized or required under another lawIf you are an individual:
If you are an individual then, by applying for this Service you agree and consent to the matters following:
(a) We collect and will collect your information primarily for the purpose of the initial establishment of the services and
(b) subsequent administration and eventual finalization of the service.
You also agree whether you are a company or an individual and consent to us using or disclosing your information for each of the following additional purpose:
(a) Performing our internal administration and operations including accounting, risk management, record-keeping, archiving, system development and testing, credit scoring and staff training;
(b) Compliances with legislative and regulatory requirements; and
(c) Prevention and investigation of crime or fraud to protect your interest and our interest.
We collect and store all information electronically and take all reasonable steps to protect information from unauthorized access, but we cannot accept liability for unauthorized access or use of your personal information.Retention of records:
Any information collected by us, including telephone recordings or transcripts, may be kept or destroyed in accordance with the relevant Laws.Recording telephone conversations:
You consent to the electronic recording of all telephone conversations that take place between us without an automatic warning tone or warning message being given and you agree that we may use the recordings as evidence in any dispute or anticipated dispute between us.
12.Force majeure (events beyond the 'parties' control):
Neither party shall be deemed in default hereunder, nor shall it hold the other party responsible for, any cessation, interruption or delay in the performance of its obligations hereunder, except for our remittance obligations hereunder, due to earthquake, flood, fire, storm, natural disaster, act of God, war, terrorism, armed conflict, labour strike, lockout, or boycott, party shall give the other party written notice thereof and, in any event, within five (5) days of discovery thereof, and shall take all steps reasonably necessary under the circumstances to mitigate the effects of the force majeure event upon which such notice is based
13 Use of the App:
Flyworld Money Exchange may at its sole discretion, provide an App facility for customers who register for online services. If the facility is provided, you agree to the following.
Except as expressly set out in these Terms and Conditions or as permitted by any local law, you agree:
(a) not to copy the App (except where such copying is incidental to normal use of the App, or where it is necessary for the purpose of back-up or operational security); and
(b) not to rent, lease, sub-license, loan, alter, translate, merge, adapt, vary or modify the App.
You acknowledge that the App has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the App meet your requirements.
We only supply the App for domestic and private use. You agree not to use the App for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity. Specifically (but without limitation), we do not accept any liability for loss or damages to you or any third party resulting from any delay in us processing an Instruction or refusal by us to execute a Transfer Request pursuant to these Terms and Conditions.
The App is provided to you free of charge and as a result no representations, conditions, warranties or other terms of any kind are given in respect of the App, and all statutory warranties and conditions are excluded fully possible under applicable law.
In relation to your use of the App, we do not, in any event, to the extent permitted by law, accept responsibility for:
(a) any failure to perform the Services, or any losses or delays in the transmission of messages, due to circumstances outside our control or due to our obligations under any applicable laws, rules or regulations;
(b) malfunctions in communications facilities which cannot reasonably be considered to be under our control and that may affect the accuracy or timeliness of messages we send to one another;
(c) errors in the App or with the Service caused by incomplete or incorrect information provided to us by you or a third party; or
(d) any loss or damage suffered by you as a result of you using our App on a Jailbroken, rooted, or otherwise m fied device.
FLYWORLD MONEY EXCHANGE has procedures in place, to receive and respond to, complaints or inquiries about our policies and practices relating to the handling of personal information. For more information, please email to email@example.com.
FLYWORLD MONEY EXCHANGE takes all complaints seriously and will investigate all complaints.