Terms of Service

1. About these terms

These terms form a contract between you and [legal entity name] (“Zeltz”, “we”, “us”), company number [company number], registered at [registered address]. By opening an account or sending money through Zeltz you accept them.

We are [regulatory status, regulator and reference number]. Nothing in these terms removes rights you have under law that cannot be excluded.

2. Who can use Zeltz

To open an account you must:

• be at least 18 years old;
• be resident in a country we serve;
• be acting on your own behalf, unless we have approved a business account; and
• complete our verification checks successfully.

We may decline an application, and we are not always able to tell you why, because doing so can itself be prohibited by law.

3. Your account

Keep your credentials confidential and tell us immediately if you believe someone else has accessed your account. You are responsible for instructions given through your account. Keep the information we hold about you accurate and up to date.

4. Verification

Before you can send money, and from time to time afterwards, we must verify your identity and may ask about the source of your funds and the purpose of a transfer. We may pause or refuse a transfer until we receive what we have asked for. These checks are a legal requirement, not a discretionary step.

5. Sending money

When you set up a transfer we show you the exchange rate, any fee, the amount your recipient will receive and an estimated delivery time. A transfer is an instruction to us; it becomes binding when you confirm it and we accept it.

You are responsible for the accuracy of recipient details. Payments are generally routed on the account number or identifier you supply. If those details are wrong the money may reach the wrong person, and we may be unable to recover it, though we will make reasonable efforts to help.

Delivery times are estimates. They depend on the destination bank or payout partner, on currency cut-off times and on our checks, and are not guaranteed.

6. Exchange rates and fees

Rates shown before you confirm are indicative and move with the market. The rate that applies is the one quoted and confirmed at the moment you complete the transfer. Our rate includes a margin over the rate at which we buy currency; that margin is how the exchange element of the service is priced, and the rate you are shown is always the rate we will apply.

Fees are shown before you confirm. Your bank, card issuer or the recipient’s bank may apply their own charges, which we do not control and do not receive.

7. Cancelling a transfer

You can ask us to cancel a transfer, and we will do so if it has not yet been executed. Once funds have been sent to the recipient a transfer usually cannot be reversed. Where we refund a transfer, currency movements between the original transfer and the refund mean the amount returned may differ from the amount you paid. Details of refund handling: [refund terms].

8. Things you must not do

You must not use Zeltz:

• for money laundering, terrorist financing, fraud or any other criminal purpose;
• to send money to or from a sanctioned person, entity or territory;
• on behalf of somebody else without telling us;
• to provide payment services to third parties; or
• to give us information you know to be false.

9. Suspending or closing an account

We may suspend or close an account, or refuse a transfer, where we reasonably believe it is necessary to comply with the law, to prevent financial crime, to protect you or us from loss, or where these terms have been breached. Where the law allows, we will tell you and explain why. You may close your account at any time; closing it does not end obligations that arose before closure, and we must still keep records for the period the law requires.

10. Our responsibility to you

We will provide the service with reasonable care and skill. We are responsible for loss you suffer as a direct result of our breaking this contract or failing to use reasonable care, but we are not responsible for losses that were not foreseeable, for business losses, or for failures caused by events outside our reasonable control such as the failure of a correspondent bank or payout partner.

We do not exclude or limit liability for fraud, for death or personal injury caused by our negligence, or for anything that cannot lawfully be excluded.

11. Complaints

If something goes wrong, contact [email protected]. We aim to acknowledge a complaint within [period] and to resolve it within [period]. If you are not satisfied you may refer it to [ombudsman or dispute resolution body].

12. Changes to these terms

We may change these terms, for example to reflect a change in law or in how the service works. We will give you [notice period] notice of a material change. If you do not accept it you may close your account without charge.

13. Governing law

These terms are governed by the law of [governing law], and the courts of [jurisdiction] have jurisdiction over any dispute.