These Terms and Conditions (hereinafter referred to as the “Terms”) and each of the documents We refer to in them are our standard client agreement, which creates a legally binding agreement between You (hereinafter referred to as “You” or the “Client”) relating to the use of payment services provided by Us. References hereinafter to the “Parties” are a reference to You.
For Your own benefit and protection please read these Terms and each of the documents We refer to carefully before accepting them. If You do not understand any provision contained herein, please do not hesitate to ask for further information before proceeding.
If You have accepted the Terms, it shall be deemed that You have carefully read the Terms and any other documents We refer to in them, and thus You confirm that all provisions set forth herein have been discussed with You, are clear and fully understandable to You and You fully agree with them.
1. Definitions and Meanings
1. Application is a form available on Website for registration in the System and Account opening which should be filled in by the Client or its representative.
2. Business Day is any calendar day other than a Saturday or a Sunday, on which the payment infrastructures and the banks are open for business, or any other holiday previously announced.
3. Client is a private individual or legal entity in whose name Client Account is opened and maintained, saving provisions of Cl. 3.4. Hereof.
4. Client Account is a payment account in system that the Client opens and maintains through the Platform.
5. Client’s Identification is a set of Know Your Customer (KYC) and Due Diligence (DD) measures applied for the purposes to prevent money laundering and terrorism financing subject to mandatory binding requirements of applicable Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) legal acts and regulations.
6. Client’s Representative is a person duly authorised by the Client to represent the Client in relationship and execute Payment Transactions of the name and for the benefit of the Client, acting under a power of attorney or another legal base.
7. Customer Service, which the Client can reach by sending a message to the email indicated on the Website in the “Contact Us” section.
8. Fees are charges payable by the Client for using services, available on the Platform section “Fees”.
9. General Conditions of the Website are general conditions of use of the Website, including access to the website and cookies use. The said conditions are available on the Website.
10. Order is an instruction given by the Client Pay via the System for the purpose of carrying out a Payment Transaction. An Order may not be withdrawn by the Client after the date on which it is deemed irrevocable as indicated in these Terms.
11. Payer is a private individual or legal entity which executes payment for the benefit of the Client which submits an Order.
12. Payment Instrument is an electronic instrument allowing the Client to access to funds held in the Client Account by using an electronic device and/or electronic communication channels. Payment Instrument means, in particular, a money order, payment card, payment of funds, or virtual currency.
13. Payment Transaction is a money transfer or a virtual currency operation initiated by the Client.
14. Payment Transfer is a payment transaction wherein funds are transferred to a payment account.
15. Personal Data means any information that relates to an identified or identifiable living individual, also different pieces of information, which collected together can lead to the identification of a particular person. Personal Data processing principles are defined in Slyse Privacy Policy.
19. Platform is Slyse payment service environment that enables the Client to open and maintain Client Account.
20. Privacy Policy is the Slyse internal policy governing the processing of personal data, which is available on the Website, as may be amended from time to time. Privacy Policy is based on the Personal Information Protection and Electronic Documents Act,SC 2000 c 5 (PIPEDA) (https://laws-lois.justice.gc.ca/ENG/ACTS/P-8.6/index.html) and common good practice subject to Personal Data protection.
21. Profile is the single, centralized place on the Platform to manage all information about the Client, including Client Account number(s), ancillary services provided, personal and contact data, transactions history, any special conditions and other required information.
22. Recipient is a private individual or legal entity specified in the Order as recipient of funds of the Payment Transaction.
23. Read-only mode means the account status with limited functions, access to which the Client receives after the phone and email registration and before full registration, identification and account opening verification.
24. Services are the payment services that the Company is authorized to perform, including money transferring, foreign exchange dealing, dealing in virtual currencies.
26. Terms and Conditions are the Terms and Conditions, published on the Website that may be amended from time to time.
27. Website is the Slyse website available at www.slyse.me
28. Working Hours mean a time from 9.00 AM to 7.00 PM EET (Eastern European Time) on each Business Day, when Slyse provides Services to the Clients, handles Orders and executes Payment Transactions.
29. Withdrawal is removing funds from the Client Account which can be carried out over a period of time in fixed or variable amounts within the established limit in the form of a money transfer only.
2. Subject and Scope of the Terms and Conditions
1. The subject of the Terms and Conditions is to provide the Client with Slyse services in order to send and receive electronic money payments and other services provided by Slyse, as well as conditions upon which the Client Account is opened and maintained (opening and closure).
2. The Terms and Conditions are concluded when the Client submits an Application for Client Account services.
3. The Terms and Conditions is a contract between the Client and Slyse. It sets out the terms and conditions that apply to the Client’s use of Slyse services.The Client agrees that the Client’s use of Slyse services shall constitute the Client’s acceptance of the Terms and Conditions. Before the Client signs up for Slyse services, the Client must read any updates of the Terms and Conditions on the Platform. All future changes set out in an update are incorporated by reference into the Terms and Conditions. The changes in the Terms and Conditions will take effect on the date specified by Slyse.
4. The Terms and Conditions govern the opening, use and closure of Client Account and other related payment services as referred to herein.
5. Together with agreements concluded, Privacy Policy, and any other conditions and documents (Supplements, Agreements, Rules, Declarations, etc.), including but not limited to, information on the websites, they constitute the legal relationship between the Client and Slyse.
6. The Client is advised to read the Terms and Conditions carefully. If there is any part of the Terms and Conditions the Client does not understand or wish to clarify, the Client is advised to contact Slyse.
7. The Client is advised to print or download and keep a copy of the Terms and Conditions and Fees for future reference. The Client can always view the current version of Terms and Conditions on the Website.
8. Depending on the type of Client Account the Client has, additional terms and conditions and agreements may apply.
3. Client Account
2. Client Account is an payment account that enables the Client to hold stored value (known as “funds”, “money” or “virtual currency”), to send and receive payments.
The Client can check the balance of funds and view the transactions carried out on the Client Account via the Platform.
3. Subject to section 10, the money held on Client Account does not expire.
4. The Client has the right to withdraw funds from Client Account at any time. However, the Client may be required to confirm the Client’s identity and present any supporting documentation beforehand.
There is no minimum withdrawal amount, but the funds on Client Account must be sufficient to cover any applicable withdrawal fee.
4. Client Account may be subject to limits set by Slyse and depending on the Client’s AML Risk type, assessed by Slyse AML team subject to mandatory binding AML/CTF legal requirements applicable to Slyse. The limits may be revised by Slyse from time to time.
5. Client Account is opened for indefinite period of time.
6. The money on Client Account belongs to the natural person or legal entity, which is registered as Client Account holder (the Client). No person other than Client Account holder has any rights in relation to the funds held in Client Account, except in cases of succession. The Client may not assign or transfer
Client Account to a third party or otherwise grant any third party a legal or equitable interest over it.
7. Any funds held on Client Account will not earn any interest.
8. There is Private Client Account and Corporate Client Account.
9.1. Both of the Client Account would require the Client to state his/her identity: name, surname, date
of birth, country of residence and both his/her cell phone number, email address, provide his/her
audiovisual recording in good quality with appropriate lighting for Slyse to identify the Client,
good quality photo (or scanned copy) of ID document or passport, which is valid travel document for
crossing the external border of the country of residence of the Client, a scanned copy of utility bill, dated
within the last 3 months.
9.2. Corporate Client Account requires the Client to submit application form, documents and
information set by Slyse.
10. In case the potential Client has not submitted the proof of identity and/or proof of address, Slyse does not process the application further.
11. During the verification of the document Slyse checks that:
11.1. Document is valid;
11.2. There are no obvious signs of forgery (strange smears, document is damaged etc.);
11.3. Quality of the documentation (regarding the content, quality, possible mistakes) complies with the legislation. Slyse does not process the application further if documents do not include all of the required pages.
12. Client confirms that:
12.1. Document includes all necessary pages, grading scales, legends and translations.
12.2. The file is complete, that all scanned images are correctly oriented (portrait orlandscape) and that all content is readable before submitting to Slyse. Client should ensure that all 4 (four) corners of the document are visible.
13. In case, either the proof of identity and/or proof of address cannot be accepted for any reason (e.g., ID photo does not look genuine, etc.), Slysehas the right to deny the application.
13.1. Slyse reserves the right not to make a report to authorities, because during this stage of establishing relationships with potential Client, Slyse cannot be sure that unwillingness of the potential Client is related to the complying with the demands (standards) of legislation, and not related with unwillingness to cooperate with Slyse.
4. Applying for Client Account and Opening Client Account
1. In order to use Slyse services the Client must first open Client Account by registering the Client’s details in the Platform and submitting an Application for account services. As part of the Client Account opening process, the Client will need to accept the Terms and Conditions and to pay document
verification Fee for opening an account by Payment Transfer. The Client must not be in breach of any of the Terms and Conditions. Slyse may refuse to provide services to residents of countries mentioned in the FATF blacklist, OFAC Sanctions List and other countries mentioned in various sanction lists or in recommendations of regulating authorities against cooperation. Document verification Fee for opening an account is not refundable.
2. If the Client is a private individual, the Client must be at least 18 years old to use Slyse services, and by opening Client Account the Client declares that the Client is 18 years old.
3. To become a Client, the Client must apply for Client Account by providing all of the information requested on the registration stage of Website. All information the Client provides during the signup process or any time thereafter must be accurate and truthful. The Client is prohibited from providing any false, inaccurate, incomplete or misleading information.
4. After the successful verification and approval, the Client gets access to the account.
4.1. The Client may only open Client Account if it is legal to do so in the Client’s country of residence. By opening Client Account the Client represents and warrants to Slyse that the Client’s opening of Client Account does not violate any laws or regulations applicable to the Client. The Client shall indemnify Slyse against any losses Slyse incurs in connection with the Client’s breach of this section.
4.2. The Client may not be able to use Client Account or any part of its services until the Client has passed all Slyse identity and security validation and verification checks, and provided information requested in accordance with anti-money laundering regulations. Slyse may check all personal and identity verification information the Client gives us with credit reference or fraud prevention agencies and other organizations. These agencies may keep a record of the Client’s information and the searches done. However, Slyse does not perform a credit check and any search is for identity verification purposes only. Slyse shall keep records of the information and documents Slyse obtains to verify the Client’s identity in accordance with all applicable legal and regulatory requirements.
4.3. For additional Account opening possibility Client shall contact Customer Service. Slyse has the right to refuse opening of additional accounts.
4.4. The Client may only add payment instruments to Client Account if the Client is the legal holder of that Payment Instrument. Slyse takes any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which the Client is not the legal holder as a fraudulent act.
4.5. The Client is using Client Account for commercial purposes if the Client is receiving or transferring payments for or in connection with any business activity. Slyse reserves the right to determine whether, in Slyse reasonable opinion, the Client is using Client Account for commercial purposes. If the Client is in any doubt about whether or not an activity amounts to a commercial activity, the Client should contact Customer Service.