Thank you!
Your submission has been received!
Terms of service
Terms of service
Last updated MAr 27, 2024
Last updated MAr 27, 2024
1.1. The following document outlines the terms and conditions (hereinafter referred to as the "Terms and Conditions") governing the use of the Finup System.
1.2. By accessing or using the Finup System and its Services, users acknowledge their understanding and acceptance of these Terms and Conditions.
1.3. These Terms and Conditions serve as Finup's official public offer to eligible parties, granting them the opportunity to utilize the System and its Services.
2.1. Finup reserves the right to regulate matters not explicitly covered within these Terms and Conditions.
2.2. Users are bound by the Terms and Conditions, which are accessible on the Finup website. Acceptance of these Terms and Conditions signifies the user's agreement to comply with sets of regulations. The Administrator may change the terms and conditions at any time without obligation to give notice.
3.1. Account: The virtual profile established by a Customer within the System, created in adherence to the Terms and Conditions. By default, unless explicitly stated otherwise, the term "Account" refers to a Personal Account.
3.2. Applicant: An individual expressing the intention to establish an Account and initiating the registration process through the System.
3.3. Authorization Details: A combination of the Login and Password used for authentication purposes within the System.
3.4. Authorization: The process of confirming the identity of an individual through the provided Login and Password.
3.5. Chargeback: The formal procedure of voiding a bank card transaction initiated by the cardholder through their respective bank.
3.6. Contact Details: Information provided by a Customer, including email address, entered into the System for communication purposes.
3.7. Customer: An individual who holds an Account, having completed the registration process and possessing the right to utilize the System as per the established Terms and Conditions.
3.8. Dormant Account: An Account that has not been accessed or logged into for a period of one year or more.
3.9. Fees: The compensation charged by the Administrator for the provision of System Services rendered to a Customer.
3.10. Funds: Electronic currency owned by a Customer and recorded as monetary value within the Customer's Wallet.
3.11. Login: The identification method used by a Customer to access their Account, which can be either the Customer's email address or a user-defined alphanumeric combination.
3.12. Parties: Refers collectively to the Administrator and a Customer involved in transactions or interactions within the System.
3.13. Password: An alphanumeric combination chosen by a Customer during the registration process, utilized in conjunction with the Login to gain access to the Account.
3.14. Payment Order: A directive submitted electronically by a Customer via the System, requesting the execution of a Transaction.
3.15. Payment: The transfer of Funds recorded within a Wallet, either from a Customer to a third party or vice versa.
3.16. Personal Account: An Account specifically created by an individual for their personal use and access within the System.
3.17. Prohibited Activities: Actions or behaviors exhibiting one or more of the following characteristics: constitute criminal offenses in the Customer's or Service's country of residence; involve the sale or distribution of goods, works, or services prohibited in the Customer's or Service's country of residence; are forbidden under applicable laws; or contravene universally accepted standards of ethics and morality.
4.1. Account Creation: To access the System Services, individuals must apply to become a Customer and create an Account following the procedures outlined in Section 5.
4.2. Access Rights: Customers have the right to access information regarding the System Services provided by the Administrator. They can also access these Terms and Conditions. Access to the System
4.3. Access to the System: Services is granted based on the Customer's Status and any other restrictions specified in the Terms and Conditions.
4.4. Support Services: Customers are entitled to receive technical and informational support related to the use of the System Services.
5.1. To initiate the account creation process, the Applicant must complete the Registration by accessing the Website, filling out the registration forms, supplying the required registration details, and consenting to these Terms and Conditions by clicking the "Register" button.
5.2. Upon the Applicant's acceptance of these Terms and Conditions, a bilateral agreement between the Parties is established.
5.3. During the Registration process, the Applicant is obligated to furnish the following registration details to the Administrator:For an individual:
- First Name
- Last Name
- Email Address
- Password
5.4. By acknowledging and accepting the present Terms and Conditions, the Applicant affirms that they are solely representing themselves and not acting on behalf of or in the interest of any third parties.
5.5. Registration Process:
- To initiate account creation, Applicants must access the Finup website and complete the registration forms.
- Applicants are required to provide accurate registration details, including their name, surname, email address, and password.
- By clicking the "Register" button, Applicants confirm their acceptance of Finup's Terms and Conditions.
5.6. Verification Procedure:
- Customer must complete a verification process if required by Finup System..
- During verification, individuals must provide the following data to the Administrator:
- Image of a valid ID document issued by an authorized state body, containing a unique identification number and the Customer’s photo.
- Liveness check.
- Proof of address.
- Additional information may be required, including the purpose of the account creation, source of wealth, occupation, and name of employer.
- Customers may be asked to undergo authentication via video conference, potentially using third-party services.
- If the provided data is unreliable, incomplete, or outdated, the verification process will be considered unsuccessful.
5.7. Acceptance of Terms and Conditions:
- Upon accepting Finup's Terms and Conditions during registration, a bilateral agreement is established between the Parties.
- Applicants affirm that they are acting on their own behalf and not on behalf of any third parties.
- Customers acknowledge and agree to abide by Finup's Terms and Conditions.
5.8. Consequences of Non-Compliance:
- Failure to complete the registration process or provide accurate information during verification may result in restricted access to Finup's System Services.
- Non-compliance with Finup's Terms and Conditions may lead to account suspension or termination, which will result in a freeze of funds.
5.9. Security and Fraud Prevention:
- Finup implements stringent measures, including liveness checks and video conference authentication, to ensure the security and authenticity of customer accounts.
- Customers are encouraged to provide accurate and up-to-date information to facilitate the verification process and maintain account integrity.
- By adhering to these rules, Applicants and Customers can successfully register, complete verification, and accept Finup's Terms and Conditions, ensuring compliance and trust within the Finup platform.
5.10. Verification Timeframe:
- The verification process typically occurs within 48 hours after the Customer provides the requested data.
- Extended verification periods may be necessary if the Administrator requires enhanced due diligence.
5.11. Completion of Verification:
- Verification is deemed complete upon the Customer receiving confirmation from the Administrator via email or phone number provided in the System.
- Verified Customers gain access to the full scope of System Services.
5.12. Customer Responsibilities:
- Customers must promptly inform the Administrator of any changes in provided verification data and update information as soon as possible.
- Compliance with verification procedures ensures accuracy and currency of customer data.
5.13. Administrator's Authority:
- The Administrator may, at their discretion, request confirmation of the accuracy, completeness, and currency of provided documents and data.
5.14. Consequences of Non-Compliance:
- Failure to provide requested documents or data within the specified timeframe may lead to consequences, including cancellation of Account Verification or Suspension of Account.
By adhering to these rules, Applicants and Customers can successfully register, complete verification, and accept Finup's Terms and Conditions, ensuring compliance and integrity within the Finup platform.
6.1. Account Creation:
- Upon completion of the registration process, an Account is created, and the individual becomes a Customer of Finup.
6.2. Wallet Management:
- Customers have the option to create separate Wallets for different currencies.
- All funds transferred to the Customer's Account are stored in the respective currency Wallets.
6.3. Funds and Wallet Usage:
- Funds within Wallets can be kept indefinitely, and no interest is accrued on them.
- Certain limitations may apply to Wallets regarding depositing, payments, and withdrawals based on factors determined by the Administrator.
6.4. Personal Account Creation:
- Customers have the ability to create Personal Accounts, the features of which are detailed on the Finup website.
6.5. Account Eligibility and Compliance:
- Customers must be 18 years or older and legally capable to create an Account.
- Accounts cannot be created for citizens of countries not supported by Finup.
- Customers must ensure compliance with their country's laws during Account creation, and they are liable for any losses incurred by the Administrator due to violations.
- The Service can't be provided to or used for any transaction involving an individual, organization, country, or jurisdiction that is blocked or sanctioned by the United States, the European Union, Singapore, Canada, United Kingdom, UAE or India.
6.6. Account Integrity and Fraud Prevention:
- Customers are prohibited from registering multiple Accounts.
- Violation of this rule may result in Account suspension and the labeling of such Accounts as fraudulent.
Adhering to these rules ensures security, compliance, and responsible management of Accounts within the Finup platform.
7.1. Deposit and Withdrawal Procedures:
- Customers can deposit funds into their Wallets and withdraw funds from their Wallets by accessing their Account on the Finup website and following the provided instructions.
7.2. Third-Party Payment Services:
- Deposit and withdrawal of funds are considered payment services provided by third parties and are not inherently part of Finup's core System Services.
7.3. Compliance and Legal Framework:
- All deposit and withdrawal transactions must adhere to the Terms and Conditions, policies of third-party service providers, and applicable laws.
7.4. Administrator's Discretion:
- The Administrator reserves the right to restrict certain deposit and withdrawal methods based on the level of risk associated with Customer activities or transactions.
7.5. Rights and Responsibilities:
- Customers assume all rights and responsibilities associated with funds deposited into their Wallets by third parties.
7.6. Fees and Charges:
- Additional fees may be charged by third-party service providers for deposit and withdrawal transactions, depending on the chosen method.
7.7. Transaction Finality and Notifications:
- Once a transaction is executed, it is considered final and cannot be disputed, revised, or canceled, except for fraudulent deposit transactions.
- Customers may receive notifications of transactions executed with their Account via email, with the option to disable notifications.
7.8. Limits, Restrictions, and Currency Exchange:
- The Administrator may restrict the list of payees for certain categories of Customers based on risk levels, with specific restrictions outlined on the Finup website.
- Customers can exchange currencies and transfer funds between their own Wallets or to other Customers' Wallets within the Finup System.
7.9. Reporting and Customer Support:
- Customers can download electronic reporting documents on executed transactions free of charge from their Account.
- The Administrator may provide customer support and assistance with transaction-related inquiries.Adhering to these rules ensures that transactions within the Finup platform are conducted securely, transparently, and in compliance with relevant regulations.
8.1. Customer Agreement and Consent:
- Customers must adhere to the terms outlined in the Cardholder Agreement between themselves and the Issuer.
- By using the Finup Card, customers consent to Finup obtaining and sharing information related to the card with the Issuer.
8.2. Role of Finup:
- Finup acts as a facilitator of information exchange between the Customer, the Issuer, and Finup regarding Finup Card transactions.
- Transaction records, including balance and history, are accessible through the Customer's Finup Account.
8.3. Transaction Deductions and Balance Insufficiency:
- Customers authorize Finup to deduct the value of Finup Card transactions, including fees or taxes, from their available balance.
- If the Account lacks sufficient funds, Finup may purchase virtual currency from the Customer to cover the transaction amount.
8.4. Foreign Transaction Fees:
- Customers may incur foreign transaction fees for transactions conducted in foreign currencies, which will be converted to the local currency.
8.5. Customer Liability and Indemnification:
- Customers are responsible for all transactions initiated using their Finup Card.
- Customers must indemnify Finup for any liabilities arising from Finup Card transactions.
8.6. Lost or Unauthorized Use:
- Customers must immediately report any lost or suspected unauthorized use of their Finup Card to Finup's customer support.
- The cancellation, suspension, or freezing of the Finup Card may take time, and customers remain liable for transactions during this period.
8.7. Prohibited Use and Limitations:
- Customers may not use the Finup Card for illegal purposes or activities.
- Finup reserves the right to suspend transactions, cancel, suspend, or freeze the Finup Card or Wallet, and may impose limits on transaction size or type.
- Transactions related to gambling, cryptocurrency, investing and dating are strictly prohibited. Such transactions will be cancelled and the Customer will be charged a penalty of 25% of the transaction amount.
Adherence to these rules ensures that customers understand their rights, obligations, and potential liabilities associated with using the Finup Card within the Finup platform.
9.1. Fee Collection:
- The Administrator collects fees for the services rendered to the Customer.
9.2. Tariff Information:
- The size and procedures for charging fees are clearly stated on the website under the "Tariffs" section.
9.3. Unilateral Fee Changes:
- The Administrator reserves the right to unilaterally change the fee size.
- Changes become effective upon publication on the website.
9.4. Currency and Rounding:
- All fees are calculated in the transaction currency and rounded to the nearest cent.
9.5. Taxation Exemption:
- Services provided by the Administrator to the Customer are exempt from VAT or other turnover taxes.
9.6. Fee Application:
- Applicable fees are deducted from the Customer's Wallet by the Administrator after the completion of a fee-applicable transaction or when the Administrator has grounds for fee collection.
9.7. Insufficient Wallet Balance:
- If the Wallet balance is insufficient to cover applicable fees, the Administrator may reject the transaction and demand payment of applicable fees from the Customer.
These rules ensure transparency and clarity regarding tariff information and fee collection procedures within the Finup platform. Users are informed about their financial obligations and the conditions under which fees are applied, allowing for informed decision-making and transaction management.
10.1. Compliance Responsibility:
- Parties are responsible for adhering to the Terms and Conditions, and applicable laws.
10.2. Repayment of Damages:
- Customers must reimburse the Administrator for damages incurred due to violations of applicable laws, provided relevant documents are furnished.
10.3. Responsibility for Wallet Transactions:
- Customers are accountable for all transactions recorded in their Wallets, including those conducted with bank payment cards and by third parties.
10.4. Legal Compliance:
- Customers must comply with laws governing account opening and money transfer transactions in their residence jurisdiction.
10.5. Internet Usage Risks:
- Customers assume full responsibility for risks associated with internet use during interactions with the Administrator, other Customers, and third parties.
10.6. Prohibited Activities and Misrepresentation:
- Customers are prohibited from engaging in activities that could mislead others about Administrator services, damage Administrator reputation, or impersonate Administrator representatives.
10.7. Indemnification:
- Customers must protect the Administrator's interests, reimburse losses, pay compensations, and indemnify the Administrator against any claims, damages, costs, or expenses resulting from violations of the Terms and Conditions or applicable laws.
These rules outline the Customer's legal obligations, responsibilities, and potential liabilities within the Finup platform. They emphasize compliance, accountability, and indemnification to ensure the integrity and legality of transactions conducted through the system.
11.1. Customer's Actions and Confidentiality:
- The Administrator disclaims responsibility if the customer transfers data to third parties, intentionally provides access to the Wallet, or violates confidentiality. Responsibility lies with the customer for such actions.
11.2. Illegal Activities and Third Parties:
- The Administrator is not responsible for illegal activities of third parties using customer data or authorization details.
11.3. Viruses and Malicious Software:
- The Administrator is not liable for viruses or malicious software in the customer's hardware or software used to access the System.
11.4. Disputes, Legislation, and Complaints:
- The Administrator disclaims responsibility for disputes between customers, customer violations of legislation, and complaints from authorities regarding reporting and taxation.
11.5. Lack of Access and Unreliable Data:
- The Administrator is not responsible if the customer lacks access due to unreliable data or inability to update information.
11.6. Third-Party Payment Services and External Actions:
- The Administrator is not responsible for payment services by third parties or actions taken by third parties related to external websites linked on the Finup Website.
11.7. System Inoperability and External Factors:
- The Administrator disclaims responsibility for temporary system inoperability, hardware/software malfunctions, or errors caused by external factors not within the Administrator's control.
11.8. Loss of Authorization Details and Verification Events:
- The Administrator is not responsible if access cannot be recovered due to loss of Authorization Details, system locking, password loss, or events requiring verification.
11.9. Damages and Losses:
- The Administrator is not responsible for damages and losses resulting from account suspension, failure to pass verification, payment order errors, legislative compliance, failure to read updated terms, payment method unavailability, or customer violations of terms and policies.
11.10. Indirect or Consequential Damages:
- The Administrator is not responsible for indirect or consequential damages, including loss of profit, revenue, contracts, customers, time, data, enterprise, or reputation.
These disclaimers define the extent of the Administrator's non-liability for various customer actions, external factors, and system-related events.
12.1. Reasons for Suspension:
- Account suspension may occur for reasons including security concerns, suspicion of unauthorized or fraudulent activity, violation of terms and conditions, legal requirements, governmental proceedings, or actions causing harm to the administrator's reputation.
12. 2. Notification and Suspension Process:
- The Administrator must notify customers via the provided email address or Telegram account about the account suspension, except when it's unlawful or poses a security threat.
- During an account suspension, the Administrator has the right to request any documents for additional verification of the client or origin of funds.Suspension is lifted promptly after the reasons for suspension cease to exist.
12.3. Responsibilities and Liabilities:
- Customers remain responsible for fulfilling obligations accrued before suspension.
- The Administrator bears no liability to customers for suspending their accounts.
The Administrator reserves the right to retain and utilize transaction data or other information related to suspended accounts.These rules outline the procedures and conditions for suspending customer accounts on the Finup platform, ensuring compliance with terms, policies, and legal requirements while safeguarding platform integrity and security.
13.1. Indefinite Term:
- The terms and conditions have an indefinite duration and remain in effect until terminated according to the stipulated provisions.
13.2. Customer's Right to Terminate:
- Customers can terminate their relationship with Finup by deleting their account at any time, provided they have no outstanding obligations.
13.3. Effects of Deleting the Account:
- Once the account deletion process is initiated by the customer, transactions using the account become impossible. Existing financial obligations between the parties remain until fully resolved.
13.4. Administrator's Right to Terminate:
- Finup can unilaterally terminate the terms and conditions by notifying the customer.
These rules outline the procedures and conditions for terminating the agreement between customers and Finup, covering voluntary termination by customers, unilateral termination by Finup, handling of remaining funds, and data retention post-termination.
14.1. Retention Period:
- Any unclaimed funds will be retained by the Administrator for a duration of 1 year from the date of the Account's suspension or termination.
14.2. Expiration of Claim:
- After the 1-year period, if the funds remain unclaimed, the Customer will be considered to have waived any right or claim to those funds.
14.3. Relief of Obligation:
- Upon the expiration of the 1-year period, the Administrator will no longer be obligated to pay the unclaimed funds to the Customer.
These rules establish a clear timeframe for the retention of unclaimed funds by Finup and specify the consequences if those funds remain unclaimed after the designated period.
15.1 Transparency and Accountability:
- The Administrator prioritizes transparency and accountability in resolving disputes. We are committed to ensuring that all parties involved in a dispute receive fair treatment and have their concerns addressed promptly
15.2 Timely Response:
- Upon receiving a dispute, the Administrator pledges to acknowledge it promptly and provide an initial response within 7 working days.
15.3 Mediation and Arbitration:
- Arbitration under these terms is strictly limited to individual cases. Collective arbitrations, class actions, private attorney general actions, representative actions, or consolidation with other arbitrations are strictly prohibited. You forfeit the right to a jury trial and any participation in a class action against Finup.
16.1 Customer Due Diligence (CDD):
- The Administrator conducts thorough Customer due diligence on all clients to verify their identities and assess the risk associated with their activities.
- Enhanced due diligence will be performed for high-risk customers, including politically exposed persons (PEPs) and customers from high-risk jurisdictions.
16.2 Transaction Monitoring:
- The Administrator implements robust transaction monitoring systems to detect and report suspicious activities promptly.
- Transactions that are unusual, inconsistent with the customer's profile, or indicative of money laundering will be investigated promptly.
16.3 Reporting and Compliance:
- The Administrator maintains open communication channels with regulatory authorities and promptly report any suspicious activities as required by law.
- The Administrator's AML program will be reviewed and updated regularly to adapt to evolving threats and regulatory requirements.
16.4 Sanctions Compliance:
- The Administrator screens all customers against relevant sanctions lists to ensure compliance with international sanctions regimes.
- Transactions involving sanctioned individuals or entities will be prohibited.
16.5 Penalties for Non-Compliance:
- Non-compliance with this AML policy may result cancellation of all pending transactions, account restriction and freezing of funds pending clarification.
By adhering to this AML policy, Finup Fintech reaffirms its commitment to combatting money laundering and protecting the integrity of the financial system.
1.1. The following document outlines the terms and conditions (hereinafter referred to as the "Terms and Conditions") governing the use of the Finup System.
1.2. By accessing or using the Finup System and its Services, users acknowledge their understanding and acceptance of these Terms and Conditions.
1.3. These Terms and Conditions serve as Finup's official public offer to eligible parties, granting them the opportunity to utilize the System and its Services.
2.1. Finup reserves the right to regulate matters not explicitly covered within these Terms and Conditions.
2.2. Users are bound by the Terms and Conditions, which are accessible on the Finup website. Acceptance of these Terms and Conditions signifies the user's agreement to comply with sets of regulations. The Administrator may change the terms and conditions at any time without obligation to give notice.
3.1. Account: The virtual profile established by a Customer within the System, created in adherence to the Terms and Conditions. By default, unless explicitly stated otherwise, the term "Account" refers to a Personal Account.
3.2. Applicant: An individual expressing the intention to establish an Account and initiating the registration process through the System.
3.3. Authorization Details: A combination of the Login and Password used for authentication purposes within the System.
3.4. Authorization: The process of confirming the identity of an individual through the provided Login and Password.
3.5. Chargeback: The formal procedure of voiding a bank card transaction initiated by the cardholder through their respective bank.
3.6. Contact Details: Information provided by a Customer, including email address, entered into the System for communication purposes.
3.7. Customer: An individual who holds an Account, having completed the registration process and possessing the right to utilize the System as per the established Terms and Conditions.
3.8. Dormant Account: An Account that has not been accessed or logged into for a period of one year or more.
3.9. Fees: The compensation charged by the Administrator for the provision of System Services rendered to a Customer.
3.10. Funds: Electronic currency owned by a Customer and recorded as monetary value within the Customer's Wallet.
3.11. Login: The identification method used by a Customer to access their Account, which can be either the Customer's email address or a user-defined alphanumeric combination.
3.12. Parties: Refers collectively to the Administrator and a Customer involved in transactions or interactions within the System.
3.13. Password: An alphanumeric combination chosen by a Customer during the registration process, utilized in conjunction with the Login to gain access to the Account.
3.14. Payment Order: A directive submitted electronically by a Customer via the System, requesting the execution of a Transaction.
3.15. Payment: The transfer of Funds recorded within a Wallet, either from a Customer to a third party or vice versa.
3.16. Personal Account: An Account specifically created by an individual for their personal use and access within the System.
3.17. Prohibited Activities: Actions or behaviors exhibiting one or more of the following characteristics: constitute criminal offenses in the Customer's or Service's country of residence; involve the sale or distribution of goods, works, or services prohibited in the Customer's or Service's country of residence; are forbidden under applicable laws; or contravene universally accepted standards of ethics and morality.
4.1. Account Creation: To access the System Services, individuals must apply to become a Customer and create an Account following the procedures outlined in Section 5.
4.2. Access Rights: Customers have the right to access information regarding the System Services provided by the Administrator. They can also access these Terms and Conditions. Access to the System
4.3. Access to the System: Services is granted based on the Customer's Status and any other restrictions specified in the Terms and Conditions.
4.4. Support Services: Customers are entitled to receive technical and informational support related to the use of the System Services.
5.1. To initiate the account creation process, the Applicant must complete the Registration by accessing the Website, filling out the registration forms, supplying the required registration details, and consenting to these Terms and Conditions by clicking the "Register" button.
5.2. Upon the Applicant's acceptance of these Terms and Conditions, a bilateral agreement between the Parties is established.
5.3. During the Registration process, the Applicant is obligated to furnish the following registration details to the Administrator:For an individual:
- First Name
- Last Name
- Email Address
- Password
5.4. By acknowledging and accepting the present Terms and Conditions, the Applicant affirms that they are solely representing themselves and not acting on behalf of or in the interest of any third parties.
5.5. Registration Process:
- To initiate account creation, Applicants must access the Finup website and complete the registration forms.
- Applicants are required to provide accurate registration details, including their name, surname, email address, and password.
- By clicking the "Register" button, Applicants confirm their acceptance of Finup's Terms and Conditions.
5.6. Verification Procedure:
- Customer must complete a verification process if required by Finup System..
- During verification, individuals must provide the following data to the Administrator:
- Image of a valid ID document issued by an authorized state body, containing a unique identification number and the Customer’s photo.
- Liveness check.
- Proof of address.
- Additional information may be required, including the purpose of the account creation, source of wealth, occupation, and name of employer.
- Customers may be asked to undergo authentication via video conference, potentially using third-party services.
- If the provided data is unreliable, incomplete, or outdated, the verification process will be considered unsuccessful.
5.7. Acceptance of Terms and Conditions:
- Upon accepting Finup's Terms and Conditions during registration, a bilateral agreement is established between the Parties.
- Applicants affirm that they are acting on their own behalf and not on behalf of any third parties.
- Customers acknowledge and agree to abide by Finup's Terms and Conditions.
5.8. Consequences of Non-Compliance:
- Failure to complete the registration process or provide accurate information during verification may result in restricted access to Finup's System Services.
- Non-compliance with Finup's Terms and Conditions may lead to account suspension or termination, which will result in a freeze of funds.
5.9. Security and Fraud Prevention:
- Finup implements stringent measures, including liveness checks and video conference authentication, to ensure the security and authenticity of customer accounts.
- Customers are encouraged to provide accurate and up-to-date information to facilitate the verification process and maintain account integrity.
- By adhering to these rules, Applicants and Customers can successfully register, complete verification, and accept Finup's Terms and Conditions, ensuring compliance and trust within the Finup platform.
5.10. Verification Timeframe:
- The verification process typically occurs within 48 hours after the Customer provides the requested data.
- Extended verification periods may be necessary if the Administrator requires enhanced due diligence.
5.11. Completion of Verification:
- Verification is deemed complete upon the Customer receiving confirmation from the Administrator via email or phone number provided in the System.
- Verified Customers gain access to the full scope of System Services.
5.12. Customer Responsibilities:
- Customers must promptly inform the Administrator of any changes in provided verification data and update information as soon as possible.
- Compliance with verification procedures ensures accuracy and currency of customer data.
5.13. Administrator's Authority:
- The Administrator may, at their discretion, request confirmation of the accuracy, completeness, and currency of provided documents and data.
5.14. Consequences of Non-Compliance:
- Failure to provide requested documents or data within the specified timeframe may lead to consequences, including cancellation of Account Verification or Suspension of Account.
By adhering to these rules, Applicants and Customers can successfully register, complete verification, and accept Finup's Terms and Conditions, ensuring compliance and integrity within the Finup platform.
6.1. Account Creation:
- Upon completion of the registration process, an Account is created, and the individual becomes a Customer of Finup.
6.2. Wallet Management:
- Customers have the option to create separate Wallets for different currencies.
- All funds transferred to the Customer's Account are stored in the respective currency Wallets.
6.3. Funds and Wallet Usage:
- Funds within Wallets can be kept indefinitely, and no interest is accrued on them.
- Certain limitations may apply to Wallets regarding depositing, payments, and withdrawals based on factors determined by the Administrator.
6.4. Personal Account Creation:
- Customers have the ability to create Personal Accounts, the features of which are detailed on the Finup website.
6.5. Account Eligibility and Compliance:
- Customers must be 18 years or older and legally capable to create an Account.
- Accounts cannot be created for citizens of countries not supported by Finup.
- Customers must ensure compliance with their country's laws during Account creation, and they are liable for any losses incurred by the Administrator due to violations.
- The Service can't be provided to or used for any transaction involving an individual, organization, country, or jurisdiction that is blocked or sanctioned by the United States, the European Union, Singapore, Canada, United Kingdom, UAE or India.
6.6. Account Integrity and Fraud Prevention:
- Customers are prohibited from registering multiple Accounts.
- Violation of this rule may result in Account suspension and the labeling of such Accounts as fraudulent.
Adhering to these rules ensures security, compliance, and responsible management of Accounts within the Finup platform.
7.1. Deposit and Withdrawal Procedures:
- Customers can deposit funds into their Wallets and withdraw funds from their Wallets by accessing their Account on the Finup website and following the provided instructions.
7.2. Third-Party Payment Services:
- Deposit and withdrawal of funds are considered payment services provided by third parties and are not inherently part of Finup's core System Services.
7.3. Compliance and Legal Framework:
- All deposit and withdrawal transactions must adhere to the Terms and Conditions, policies of third-party service providers, and applicable laws.
7.4. Administrator's Discretion:
- The Administrator reserves the right to restrict certain deposit and withdrawal methods based on the level of risk associated with Customer activities or transactions.
7.5. Rights and Responsibilities:
- Customers assume all rights and responsibilities associated with funds deposited into their Wallets by third parties.
7.6. Fees and Charges:
- Additional fees may be charged by third-party service providers for deposit and withdrawal transactions, depending on the chosen method.
7.7. Transaction Finality and Notifications:
- Once a transaction is executed, it is considered final and cannot be disputed, revised, or canceled, except for fraudulent deposit transactions.
- Customers may receive notifications of transactions executed with their Account via email, with the option to disable notifications.
7.8. Limits, Restrictions, and Currency Exchange:
- The Administrator may restrict the list of payees for certain categories of Customers based on risk levels, with specific restrictions outlined on the Finup website.
- Customers can exchange currencies and transfer funds between their own Wallets or to other Customers' Wallets within the Finup System.
7.9. Reporting and Customer Support:
- Customers can download electronic reporting documents on executed transactions free of charge from their Account.
- The Administrator may provide customer support and assistance with transaction-related inquiries.Adhering to these rules ensures that transactions within the Finup platform are conducted securely, transparently, and in compliance with relevant regulations.
8.1. Customer Agreement and Consent:
- Customers must adhere to the terms outlined in the Cardholder Agreement between themselves and the Issuer.
- By using the Finup Card, customers consent to Finup obtaining and sharing information related to the card with the Issuer.
8.2. Role of Finup:
- Finup acts as a facilitator of information exchange between the Customer, the Issuer, and Finup regarding Finup Card transactions.
- Transaction records, including balance and history, are accessible through the Customer's Finup Account.
8.3. Transaction Deductions and Balance Insufficiency:
- Customers authorize Finup to deduct the value of Finup Card transactions, including fees or taxes, from their available balance.
- If the Account lacks sufficient funds, Finup may purchase virtual currency from the Customer to cover the transaction amount.
8.4. Foreign Transaction Fees:
- Customers may incur foreign transaction fees for transactions conducted in foreign currencies, which will be converted to the local currency.
8.5. Customer Liability and Indemnification:
- Customers are responsible for all transactions initiated using their Finup Card.
- Customers must indemnify Finup for any liabilities arising from Finup Card transactions.
8.6. Lost or Unauthorized Use:
- Customers must immediately report any lost or suspected unauthorized use of their Finup Card to Finup's customer support.
- The cancellation, suspension, or freezing of the Finup Card may take time, and customers remain liable for transactions during this period.
8.7. Prohibited Use and Limitations:
- Customers may not use the Finup Card for illegal purposes or activities.
- Finup reserves the right to suspend transactions, cancel, suspend, or freeze the Finup Card or Wallet, and may impose limits on transaction size or type.
- Transactions related to gambling, cryptocurrency, investing and dating are strictly prohibited. Such transactions will be cancelled and the Customer will be charged a penalty of 25% of the transaction amount.
Adherence to these rules ensures that customers understand their rights, obligations, and potential liabilities associated with using the Finup Card within the Finup platform.
9.1. Fee Collection:
- The Administrator collects fees for the services rendered to the Customer.
9.2. Tariff Information:
- The size and procedures for charging fees are clearly stated on the website under the "Tariffs" section.
9.3. Unilateral Fee Changes:
- The Administrator reserves the right to unilaterally change the fee size.
- Changes become effective upon publication on the website.
9.4. Currency and Rounding:
- All fees are calculated in the transaction currency and rounded to the nearest cent.
9.5. Taxation Exemption:
- Services provided by the Administrator to the Customer are exempt from VAT or other turnover taxes.
9.6. Fee Application:
- Applicable fees are deducted from the Customer's Wallet by the Administrator after the completion of a fee-applicable transaction or when the Administrator has grounds for fee collection.
9.7. Insufficient Wallet Balance:
- If the Wallet balance is insufficient to cover applicable fees, the Administrator may reject the transaction and demand payment of applicable fees from the Customer.
These rules ensure transparency and clarity regarding tariff information and fee collection procedures within the Finup platform. Users are informed about their financial obligations and the conditions under which fees are applied, allowing for informed decision-making and transaction management.
10.1. Compliance Responsibility:
- Parties are responsible for adhering to the Terms and Conditions, and applicable laws.
10.2. Repayment of Damages:
- Customers must reimburse the Administrator for damages incurred due to violations of applicable laws, provided relevant documents are furnished.
10.3. Responsibility for Wallet Transactions:
- Customers are accountable for all transactions recorded in their Wallets, including those conducted with bank payment cards and by third parties.
10.4. Legal Compliance:
- Customers must comply with laws governing account opening and money transfer transactions in their residence jurisdiction.
10.5. Internet Usage Risks:
- Customers assume full responsibility for risks associated with internet use during interactions with the Administrator, other Customers, and third parties.
10.6. Prohibited Activities and Misrepresentation:
- Customers are prohibited from engaging in activities that could mislead others about Administrator services, damage Administrator reputation, or impersonate Administrator representatives.
10.7. Indemnification:
- Customers must protect the Administrator's interests, reimburse losses, pay compensations, and indemnify the Administrator against any claims, damages, costs, or expenses resulting from violations of the Terms and Conditions or applicable laws.
These rules outline the Customer's legal obligations, responsibilities, and potential liabilities within the Finup platform. They emphasize compliance, accountability, and indemnification to ensure the integrity and legality of transactions conducted through the system.
11.1. Customer's Actions and Confidentiality:
- The Administrator disclaims responsibility if the customer transfers data to third parties, intentionally provides access to the Wallet, or violates confidentiality. Responsibility lies with the customer for such actions.
11.2. Illegal Activities and Third Parties:
- The Administrator is not responsible for illegal activities of third parties using customer data or authorization details.
11.3. Viruses and Malicious Software:
- The Administrator is not liable for viruses or malicious software in the customer's hardware or software used to access the System.
11.4. Disputes, Legislation, and Complaints:
- The Administrator disclaims responsibility for disputes between customers, customer violations of legislation, and complaints from authorities regarding reporting and taxation.
11.5. Lack of Access and Unreliable Data:
- The Administrator is not responsible if the customer lacks access due to unreliable data or inability to update information.
11.6. Third-Party Payment Services and External Actions:
- The Administrator is not responsible for payment services by third parties or actions taken by third parties related to external websites linked on the Finup Website.
11.7. System Inoperability and External Factors:
- The Administrator disclaims responsibility for temporary system inoperability, hardware/software malfunctions, or errors caused by external factors not within the Administrator's control.
11.8. Loss of Authorization Details and Verification Events:
- The Administrator is not responsible if access cannot be recovered due to loss of Authorization Details, system locking, password loss, or events requiring verification.
11.9. Damages and Losses:
- The Administrator is not responsible for damages and losses resulting from account suspension, failure to pass verification, payment order errors, legislative compliance, failure to read updated terms, payment method unavailability, or customer violations of terms and policies.
11.10. Indirect or Consequential Damages:
- The Administrator is not responsible for indirect or consequential damages, including loss of profit, revenue, contracts, customers, time, data, enterprise, or reputation.
These disclaimers define the extent of the Administrator's non-liability for various customer actions, external factors, and system-related events.
12.1. Reasons for Suspension:
- Account suspension may occur for reasons including security concerns, suspicion of unauthorized or fraudulent activity, violation of terms and conditions, legal requirements, governmental proceedings, or actions causing harm to the administrator's reputation.
12. 2. Notification and Suspension Process:
- The Administrator must notify customers via the provided email address or Telegram account about the account suspension, except when it's unlawful or poses a security threat.
- During an account suspension, the Administrator has the right to request any documents for additional verification of the client or origin of funds.Suspension is lifted promptly after the reasons for suspension cease to exist.
12.3. Responsibilities and Liabilities:
- Customers remain responsible for fulfilling obligations accrued before suspension.
- The Administrator bears no liability to customers for suspending their accounts.
The Administrator reserves the right to retain and utilize transaction data or other information related to suspended accounts.These rules outline the procedures and conditions for suspending customer accounts on the Finup platform, ensuring compliance with terms, policies, and legal requirements while safeguarding platform integrity and security.
13.1. Indefinite Term:
- The terms and conditions have an indefinite duration and remain in effect until terminated according to the stipulated provisions.
13.2. Customer's Right to Terminate:
- Customers can terminate their relationship with Finup by deleting their account at any time, provided they have no outstanding obligations.
13.3. Effects of Deleting the Account:
- Once the account deletion process is initiated by the customer, transactions using the account become impossible. Existing financial obligations between the parties remain until fully resolved.
13.4. Administrator's Right to Terminate:
- Finup can unilaterally terminate the terms and conditions by notifying the customer.
These rules outline the procedures and conditions for terminating the agreement between customers and Finup, covering voluntary termination by customers, unilateral termination by Finup, handling of remaining funds, and data retention post-termination.
14.1. Retention Period:
- Any unclaimed funds will be retained by the Administrator for a duration of 1 year from the date of the Account's suspension or termination.
14.2. Expiration of Claim:
- After the 1-year period, if the funds remain unclaimed, the Customer will be considered to have waived any right or claim to those funds.
14.3. Relief of Obligation:
- Upon the expiration of the 1-year period, the Administrator will no longer be obligated to pay the unclaimed funds to the Customer.
These rules establish a clear timeframe for the retention of unclaimed funds by Finup and specify the consequences if those funds remain unclaimed after the designated period.
15.1 Transparency and Accountability:
- The Administrator prioritizes transparency and accountability in resolving disputes. We are committed to ensuring that all parties involved in a dispute receive fair treatment and have their concerns addressed promptly
15.2 Timely Response:
- Upon receiving a dispute, the Administrator pledges to acknowledge it promptly and provide an initial response within 7 working days.
15.3 Mediation and Arbitration:
- Arbitration under these terms is strictly limited to individual cases. Collective arbitrations, class actions, private attorney general actions, representative actions, or consolidation with other arbitrations are strictly prohibited. You forfeit the right to a jury trial and any participation in a class action against Finup.
16.1 Customer Due Diligence (CDD):
- The Administrator conducts thorough Customer due diligence on all clients to verify their identities and assess the risk associated with their activities.
- Enhanced due diligence will be performed for high-risk customers, including politically exposed persons (PEPs) and customers from high-risk jurisdictions.
16.2 Transaction Monitoring:
- The Administrator implements robust transaction monitoring systems to detect and report suspicious activities promptly.
- Transactions that are unusual, inconsistent with the customer's profile, or indicative of money laundering will be investigated promptly.
16.3 Reporting and Compliance:
- The Administrator maintains open communication channels with regulatory authorities and promptly report any suspicious activities as required by law.
- The Administrator's AML program will be reviewed and updated regularly to adapt to evolving threats and regulatory requirements.
16.4 Sanctions Compliance:
- The Administrator screens all customers against relevant sanctions lists to ensure compliance with international sanctions regimes.
- Transactions involving sanctioned individuals or entities will be prohibited.
16.5 Penalties for Non-Compliance:
- Non-compliance with this AML policy may result cancellation of all pending transactions, account restriction and freezing of funds pending clarification.
By adhering to this AML policy, Finup Fintech reaffirms its commitment to combatting money laundering and protecting the integrity of the financial system.
