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
acknowledge your agreement to this Terms and Conditions, you acknowledge that
in accordance with the requirements of the Corporations Act, you have been
provided with copies of our
published on our Website) and that you have read and understood and agree to
the contents of the said documents.
the information contained in this document before undertaking any transactions,
as it may change at any time, without notice.
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
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.
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 services
money transfer services:
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.
does not provide any Margin or Speculative Trading services or Foreign Exchange
Forward Contracts or Financial Advice.
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.
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.
to registered customers only:
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 diligence
Customers are required to complete the registration Process as mentioned here
below, before initiating a Transfer Request.
may initiate their registration process online.
availing our services, all customers are required to complete the KYC process
and the registration is to be approved by us.
Customers (including authorised signatories of corporate Customers) are
required to submit valid identification documents and proof-of-address
documents as stipulated by Flyworldmoney.
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.
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
cancel the registration:
at any time suspend or cancel the registration of a Customer at its sole
discretion, without assigning any reason whatsoever
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.
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.
binding on you:
information you have saved on the Portal including but not limited to your
primary details, bank account details, beneficiary details will be binding on
initiate online money transfer requests through our Portal or App, after completion
of your registration.
Transfer requests received by us shall be legally binding on you as soon as we
receive your electronic money transfer request.
of the transfer requests:
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.
bonafide transfer requests:
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.
from the customer:
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.
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.
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.
refuse to provide our service:
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.
re-quote the exchange rate:
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.
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.
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,
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
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.
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.
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
cheques not accepted:
acknowledge that we may not accept cash or cheques and you agree to make all
payments to our account electronically.
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.
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.
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.
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.
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 policy
Transfer Request will be paid to the beneficiary as per the payment service
chosen by you at the time of booking the Transfer Request.
that we will transmit your funds by electronic means only.
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.
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.
fees and charges:
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
of funds :
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.
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.
beyond expected time:
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.
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
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.
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.
to processed transfer request:
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.
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.
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.
amendments shall be issued at our sole discretion and will be subject to you
paying additional amendment charges, if any.
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.
We may not be
able to stop or cancel a payment if it has already been processed by us.
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.
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.
payment could not be effected to the beneficiary and the funds are or will be
returned by the Correspondent.
a booked transfer request:
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
(a) If the
payment is under processing, cancellations shall be processed as required by
(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
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.
funds from beneficiary:
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.
cancelled transfer requests:
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;
Request fees/cancellation charges of Flyworldmoney as well as that of our
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
only through the same channel:
account of cancellation of Transfer Requests shall be made only to your
"My Account" in our Portal through which the Transfer Request was
the same currency:
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
entitled to any gain or profits:
that you shall not be entitled to any foreign exchange gain or profit we may
get on account of cancellation of a Transfer Request.
incurred by us during cancellation:
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.
on unpaid amount:
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
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.
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.
actual amount only:
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.
You agree to
indemnify us for any costs, expenses or fees we may incur as a result of your
failure to perform your obligations under this agreement. This includes any
legal costs that we may incur in order to enforce our rights or recover any
amounts you owe us. You also agree to indemnify us for any fees, costs, fines,
penalties, losses, duties and taxes charged by third parties in relation to the
Transfer Request you enter into, including fees charged by our Correspondents,
whether or not those fees or charges were notified to you in advance.
We agree that
if your funds are sent to the wrong account as the result of a mistake made by
us, we will indemnify you and keep you indemnified in relation to the to
recovery of those funds and will take urgent action at our own expense to
recover the 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.
10.Compliance with anti-money laundering and
counter-terrorism financing ("AML/CTF") laws.
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.
of information by us:
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.
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.
refuse to provide our service:
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
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.
obligation on AML/CTF compliance:
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
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.
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 &
words "Personal information "used in this clause has the same meaning
as it is defined in Privacy Act 1988.
receive your information:
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.
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
executor, administrator, trustee, guardian or attorney
Regulatory bodies, governments agencies and law enforcement bodies; and
parties to whom we are authorized or required by law to disclose Personal
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.
update personal information:
published in the Website.
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.
requirement of personal information:
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.
with AML/CTF act :
Information collected may also be used to monitor compliance with the AML/CTF
Act, the regulations and the AML/CTF Rules.
personal information to authorities:
disclose Personal Information which you provide to authorities where required
by law in Australia or any other country who is authorized or required under
If you are
an individual:If you
are an individual then, by applying for this Service you agree and consent to
the matters following:
collect and will collect your information primarily for the purpose of the
initial establishment of the services and
subsequent administration and eventual finalization of the service.
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:
Performing our internal administration and operations including accounting,
risk management, record-keeping, archiving, system development and testing,
credit scoring and staff training;
Compliances with legislative and regulatory requirements; and
Prevention and investigation of crime or fraud to protect your interest and our
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.
information collected by us, including telephone recordings or transcripts, may
be kept or destroyed in accordance with the relevant Laws.
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.
majeure (events beyond the 'parties' control):
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:
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.
In consideration of you agreeing to abide by these Terms and Conditions,
we grant you a non-transferable, non-exclusive license to use the App, subject
terms (incorporated into these Terms and Conditions by reference) as may be
amended from time to time. We reserve all other rights.
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.
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
MONEY EXCHANGE takes all complaints seriously and will investigate all