EBANX E-money Terms

Updated on February 01, 2019

These terms and conditions (Terms) apply to your Account and you should read them carefully. By clicking the acceptance box on the App you will be deemed to accept these Terms. Your Account is operated by EBANX Limited, with registered offices at 5 Old Bailey, Business Prospect Centre, London, United Kingdom and authorised by the Financial Conduct Authority (reference: 900847) for the issuance of electronic money and provision of payment services.

  • Definitions:
    • In these Terms the following words and expressions have the following meanings:

Account: The E-money Account held by us in your name.

App: The EBANX smartphone application on which you will be able to open your Account and Profile and carry out Transactions.

Customer Services: may be contacted via email at support@ebanx.uk or or directly via the App or phone number at:
Brazil: +55 0800 591 4050 (Mon – Fri: 2pm – 6pm BRST)
Mexico: +52 0800 461 0339 (Mon – Fri: 10am – 2pm CST)
UK: +44 0800 014 8200 (Mon – Fri: 4pm – 8pm GMT)

E-money: the e-money stored in your Account.

Load/Loading/Loaded: the loading of e-money onto your Account in accordance with these Terms.

Permitted Currency/ies: USD or any other currencies that we permit on the App from time to time.

Profile: your area within the App where you can access your Account and carry out Transactions.

Terms: these terms and conditions as amended from time to time.

Transaction: A Load, Withdrawal or Transfer (as the case may be).

Transfer: your sending of available E-money in the Permitted Currencies to permitted third-party payment accounts held at a regulated financial institution by following the instructions on the App.

We/us/ours: EBANX Limited.

Withdraw/Withdrawal: a redemption of funds from your Account into a bank account held in your name in the Permitted Currencies.

You/your/User: the person who has opened an Account with us by agreeing to these Terms.

  1. These Terms

    1. A copy of these Terms will be made available to you via the App.
    2. If we make changes to it that are clearly in your favour, we’ll tell you once we’ve made them. Otherwise we’ll give you two months’ notice and if you don’t agree to the changes, you can terminate your Account via Customer Services.
  2. Applying for your account

    1. To register with us and open an Account you must:
      1. be an individual and at least 18 years old;
      2. provide personal information and copies of ID documents that we request from you on the App;
      3. have accepted our privacy policy;
      4. be a resident of Mexico, Brazil or other jurisdictions that we permit from time to time.
    2. Before we can offer our services to you and for the duration of these Terms, we may carry out checks on you electronically and also request further documentary evidence to verify this information. We may also use third parties to obtain this information and carry out checks on our behalf, which may include using credit reference agencies. However, a credit check is not performed and your credit rating will not be affected.
    3. You warrant and guarantee that all the information you provide to us in relation to these Terms is true and accurate. You must notify us immediately if there is a change in the information you supply us with via your Profile.
    4. We reserve the right to refuse applications to open an Account.
    5. In order to use the App, your mobile device should support the minimum technical requirements for its installation (including Apple App and Google Play requirements).
  3. Your Account & Transactions

    1. Funds may be added to your Account (i.e. Loaded) by direct bank-transfer from a bank account designated in the Permitted Currencies only or via EBANX Transfer remittance service (subject to its Terms and Conditions(link)).
    2. Subject to the Limit, you may carry out Transactions and receive Loads via the App.
    3. You may view your Transaction history and available E-money via your Profile.
    4. You must ensure that you have sufficient available E-money to carry out on any Transaction you wish to make on the App. Some Transactions that would take your available balance below zero may still go through and if that happens, we’ll let you know the amount you’ll need to repay us before the end of the day: we may block your Account if such negative balance is not rectified.
    5. You will not earn any interest on your E-money: your Account is not covered by the Financial Services Compensation Scheme but shall be safeguarded by us, which means that they are kept separate from our assets so in the unlikely event we become insolvent, your funds will remain safe from our creditors
  4. Withdrawals

    1. You can Withdraw your E-money to a bank account held in your name by requesting this via the App on the “Transfer“ option.
    2. Authorisation of a Withdrawal may not be withdrawn (or revoked) after we have received it.
  5. Suspending your Account or declining Transactions

    1. We may at any time suspend, restrict or cancel your Account for the following reasons:
      1. we are concerned about the security of your E-money or access to it;
      2. we discover that any information you have provided to us is false or incorrect;
      3. we suspect criminal activity on your Account;
      4. you break an important term of these Terms or repeatedly break any term in these Terms and fail to resolve the matter in a timely manner; or
      5. we reasonably believe that there is a need to do so to comply with any law or as a matter of good practice.
    2. If we take any of the steps referred to in clause 6.1, we will tell you why unless it would be unlawful to do so and may ask you to stop using your Account until we believe that those circumstances no longer apply.
    3. We may also decline to execute a Transaction if:
      1. a Transaction might take you over your available E-money or Limits;
      2. we reasonably believe that there is a need to do so to comply with any law or as a matter of good practice.
    4. If we refuse to execute a Transaction, we will tell you why unless it would be unlawful to do so. You may correct any information we hold and which may have caused us to refuse a Transaction by amending your information on the App.
  6. Keeping your Account secure

    1. Via the App, you will be given security information to enable access to your Profile, e.g. a passcode and password that is personal and must not be disclosed to anyone else.
    2. You must take reasonable precautions to prevent fraudulent use of your Account at all times.
    3. You must notify us immediately via Customer Services if you:
      1. know or suspect that your passcode or password is known to an unauthorised person; or
      2. think that a Transaction is unauthorised or incorrectly executed; or
      3. believe that your Account is being accessed without your consent.
  7. Unauthorised or incorrectly executed Transactions

    1. You may be entitled to claim a refund in relation to a Transaction made using your Account where it was not authorised in accordance with these Terms; or we were responsible for its incorrect execution provided that you notify us of the unauthorised or incorrectly executed Transfer within 13 months of its debit date.
    2. If we refund a Transaction to your Account and subsequently we learn that it was actually authorised by you, we will deduct the relevant amount from your Account (and will be liable for any deficits if they arise).
    3. Subject to clauses 7.4 and 7.5, you may be liable to a maximum £35 for any unauthorised Transactions made on your Account.
    4. You will be liable for all losses and expenses we incur as a result of unauthorised Transactions made from your Account if our investigations show that any unauthorised Transaction was in fact authorised by you or you acted fraudulently or with gross negligence.
    5. You will not be liable for any losses or expenses we incur as a result of unauthorised Transactions if the loss was caused by us or third parties on our behalf; or arises after you notify us of the unauthorised Transaction in accordance with clause 7.1.
    6. If you’re due a refund on an unauthorised Transaction, we’ll make reasonable endeavours to ensure that you receive this no later than the end of the next business day.
  8. Our Liability

    1. We will not be liable to you for any loss arising under these Terms out of or in connection with:
      1. any cause which results from abnormal or unforeseeable circumstances beyond our reasonable control or which would have been unavoidable despite all our efforts to stop it;
      2. us suspending, restricting or closing your Account if we suspect it is being used in an unauthorised, fraudulent or otherwise illegal manner, or as a result of you breaching these Terms;
      3. our compliance with any applicable laws; or
      4. loss or corruption of data unless caused by our willful default.
  9. Limit

    1. Your Account will be subject to a monthly Transaction limit of 3,000 USD (Limit): any funds Loaded or received in excess of the Limit shall be returned or disallowed (as the case may be) automatically and any Transfer in excess of the Limit shall not be permitted.
  10. Complaints

    1. Please refer to our Complaints Procedure, the App or Customer Services for any complaint that you have in relation to these Terms.
    2. We will try to resolve any complaints within fifteen 15 business days of receiving them and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).
    3. If your complaint is not resolved to your satisfaction, you can contact the Financial Ombudsman Service by writing to Exchange Tower, London, E14 9SR, calling them on 0800 023 4567 or 0300 123 9123, emailing them at complaint.info@financial-ombudsman.org.uk or via their website www.financial-ombudsman.co.uk .
  11. Term and Termination

    1. You can terminate these Terms at any time by notifying us via the App or contacting Customer Services.
    2. We can terminate these Terms on either 2 months’ notice to you or immediately if:
      1. you have breached these Terms;
      2. you have broken or attempted to break any applicable law or put us in a position where we might break the law;
      3. you have given us false information at any time; or
      4. we are required to do so under any applicable law or by a regulatory body.
    3. On termination of these Terms, we shall suspend all use of your Account apart from Withdrawal requests.
    4. You will further have the right to redeem any available E-money for a period of 6 years from such termination by contacting us via Customer Services.
    5. For the avoidance of doubt and notwithstanding any termination of the Terms, you will continue to remain liable for all Transactions including any fees (to the extent applicable) that you incur.
  12. General

    1. We can delay enforcing our rights under these Terms without losing them.
    2. We may transfer our rights or obligations under these Terms or arrange for any other person to carry these out on our behalf. You may not transfer any of your rights or obligations under these Terms.
    3. In the event that any part of these Terms are held not to be enforceable, this shall not affect the remainder of these Terms which shall remain in full force and effect.
    4. You will remain responsible for complying with these Terms until your Account is closed (for whatever reason) and all sums due under these Terms have been paid in full.
    5. These Terms shall be governed by and construed in accordance with the law of England and Wales and the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms.