Terms and Conditions

These Terms and Conditions govern the relationship between you and us and the provision by us of the relevant Services to you. Depending on the Services you have selected or requested from us, it may be that only part (but not all) of these Terms and Conditions will apply to you.

 

For your own benefit and protection, you should read these Terms and Conditions carefully. If there is anything that you do not understand, please ask us for more information and/or consult your own advisor. Definitions of words and expressions used in these Terms and Conditions are set out in Schedule 1 at the end and should be referred to when reading these Terms and Conditions. All schedules and appendices are an integral part of these Terms and Conditions and should be read together.

 

Subject to your choices and requests, the relevant Services will be provided to you by Zxtech Ltd or procured by Zxtech Ltd to be provided to you by its business partners. Although you only need to interact with Zxtech with respect to any of such Services, this does mean that in some cases you may need to comply with additional terms and conditions as required by such business partners.

 

Unless otherwise specified, references to "we", "us" and "our" in these Terms and Conditions are to Zxtech Ltd.

 

By registering with us, via our partners or the app, or otherwise requesting or using the relevant Services, you confirm that you fully understand and accept these Terms and Conditions (including all its schedules and appendices) which form a legally binding contract between us and you.

 

You have the right to request a copy of these Terms and Conditions at any time during the Term.

 

1               General Information

 

1.1            Zxtech Ltd (The Company) is a company registered in England and Wales under company number 12495813, with its registered office at Berkeley Square, House Berkeley Square, Mayfair, London, United Kingdom, W1J 6BD. It is registered with the FCA (with firm reference number 940104) as a "small payment institution" with  respect to certain payment services.​​

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1.2            Details of the FCA authorisation/registration of the Company can be found here.  

 

2.             Nature of Services

 

2.1             Certain elements of the Services constitute "payment services" under the Payment Services Regulations and issuing electronic money under the Electronic Money Regulations. The relevant requirements under the Payment Services Regulations and/or the Electronic Money Regulations apply only to such elements of the Services that constitute payment services.

 

2.2              These Terms and Conditions, in connection with such payment services, constitute a "framework contract" as defined under and for the purposes of, the Payment Services Regulations.

 

2.3              If any Services as requested by you are not subject to any regulatory requirements, we may impose additional terms and conditions when you make such request and before we provide the relevant Services. This includes without limitation where we act as your agent on the basis of an on-going Instruction from you with respect to an account of yours that is maintained by you with another payment service provider (also see clause 8.5).

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​2.4            Territory of provision of our services
Our services are available to persons in certain jurisdictions only. The distribution of the information and documentation on this website may be restricted by law in certain countries. This website, and the information and documentation on it, are not addressed to any person resident in the territory of any country or jurisdiction where such distribution to any person resident in the territory of any country or jurisdiction where such distribution would be contrary to local law or regulation.

Zxtech does not have a physical presence outside the UK.

If you use Zxtech's payment services and are based outside the UK, we provide our payment services strictly on the basis that:
- You approached us for the provision of Zxtech’s payment services.
- You have been advised that Zxtech’s payment services are not regulated or authorised outside the UK.
- All of Zxtech’s own services are provided in the UK only.
- You agree that it is your duty to ensure that you are compliant with the applicable laws in your country.

 

3.              Matters About You

 

Your information

 

3.1            We and our business partners must comply with certain AML/CTF requirements. For these purposes, we therefore must obtain and verify, for ourselves and/or on behalf of our partners, certain identity information from you before taking you on as a client and we may need to have these information updated or refreshed from time to time throughout the duration of our relationship.

 

3.2            Further, once you have become a client and throughout the relationship between you and us, we must also monitor your transactions and activities when you use our services, as part of our compliance with these AML/CTF requirements.

 

3.3            If you do not provide the relevant information, we may not be able to provide (or continue to provide) the relevant Services to you.

 

3.4            We may conduct searches through an identity-referencing agency, credit reference/scoring services, or other sources of information and checks, to verify your identity information. If you are a corporate entity or business we may conduct these types of searches on your directors, shareholders or employees authorised to transact with us on your behalf. A record of this process will be kept and may be used to help us or our business partners to verify your identity when providing services to you.

 

3.5            You agree to provide us with all relevant information and assistance as reasonably requested by us in order for the Services to be provided to you (including in relation to the relevant AML/CTF requirements). You must also ensure that you inform us promptly of any changes to such information.

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3.6            The information you provide to us under these Terms and Conditions may include personal data within the meaning of the Data Protection Requirements. When you use the Company’s App, we may need to access (subject to your consent and authorisation) certain data held on or certain functions of your mobile device on which the Company’s App is installed, including your contact list, photos, geo-location, the cameras, or microphones. Please note if you choose not give the relevant permission, certain features of the Company’s App may be affected and you may not be able to use them. By agreeing to these Terms and Conditions, you give each of the Company, and its partners (Third party service providers, if applicable) your explicit consent to access, process or retain any such personal data for the provision of the Services.

 

3.7            We will collect, store, and process your personal data in accordance with the applicable Data Protection Requirements. Details on how we use, collect, and share your information and the steps we take to protect your information are set out in our Privacy Policy. A copy of our Privacy Policy can be found here.

 

Your log-in credentials etc.

 

3.8            Once you have been on-boarded as a client, we will issue you with the relevant log-in and other security credentials which will enable you to use the Services. It is your responsibility to ensure that your such security credentials are kept safe and secure, including by having up to date anti-virus and anti-malware installed on your devices (such as computer, phone, tablet, server, and network infrastructure) and taking any other appropriate security steps or measures.

 

3.9            When you or an Authorised User contacts us, we may carry out the relevant security checks before we communicate with you or commence with performing your Instruction.

 

3.10         We may disable or lock or suspend, at any time, your personalised security credentials for using the Services including stopping the use of your Account and relevant functions (if applicable), if in our reasonable opinion you have failed to comply with any of these Terms and Conditions or we suspect that such security credentials may have been compromised.

 

3.11         If you suspect your personalised security credentials have been compromised, you must notify us immediately (see "Contact us" below). If you do not notify us or are late in notifying us of such incident, you may lose the relevant protection under the Payment Services Regulations and we will accordingly not be liable to you for any loss.

 

3.12         You must also notify us immediately on becoming aware of the loss, theft, misappropriation, or unauthorised use of your Account. If your mobile phone or other mobile device is lost or stolen and you have the Company's App installed on it, you must also notify us immediately.

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3.13         Note that you may use the Company's App to, amongst others, freeze or unfreeze your Account.

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Your use of technologies

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3.14         We and our business partners are the owner or the licensee of the relevant intellectual property rights relating to the Services, the relevant website, the App, and other relevant technologies used in relation to and/or for the purposes of the aforementioned (together "IP Rights").

 

3.15         If you infringe or cause infringed any of these IP Rights, we will be entitled to suspend any of the relevant Services and/or terminate your relationship immediately. You must, at our request, return or destroy any such infringing materials.

 

3.16         Save as expressly permitted by law, you must not reverse engineer or decompile any aspect of the Services, the relevant website, and the App, including the technology and code associated with them. Accessing the Services through robots, scrapers or any other type of automation software is strictly prohibited and any attempt to do so may result in the suspension of any relevant Services or termination of your relationship.

 

3.17         We give no guarantee that the App will be free from any defects or viruses. The App is provided on an “as is” basis and it is entirely up to you whether you choose to use it or not.

 

3.18         You are responsible for configuring your information technologies, computer programmes (including virus protection software), devices and/or platforms to access our  Service including use of the Company's App.

 

3.19         If you access the Services electronically, you must not introduce or cause to be introduced into our systems computer viruses, trojans, worms, logic bombs or other harmful or malicious programmes or software. You must not attempt to gain unauthorised access to or otherwise attach our systems including any server, computer or database used in connection with the provision of the Services. You must not attack our platform via a denial-of-service attack or a distributed denial-of service attack. We may report any such breach to the relevant law enforcement authorities. In the event of such a breach, we may terminate our relationship with you or suspend any Services immediately.

 

Your complaints

 

3.20         If you wish to make a complaint about the Services, you may do so by emailing us (see "Contact us" below). To ensure this is correctly processed please clearly indicate by putting a prefix of “Complaint:” within the email subject matter line.

 

3.21         We will acknowledge by return email the receipt of your complaint and will subsequently investigate and send an initial response within 72 hours. We have in place a defined process for handling complaints, and we will keep you updated regarding the progress of the complaint at each stage of the process.

 

3.22         If you are not satisfied with how we dealt with your complaint, you may be eligible to raise your complaint with the Financial Ombudsman Service whose contact details are: Exchange Tower, London, E14 9SR; telephone 0800 023 4567 or 0300 123 9123; email complaint.info@financial-ombudsman.org.uk; website www.financial-ombudsman.org.uk

 

4.              Communication Between You and Us

 

4.1           For any matter relating to these Terms and Conditions and any Services provided to you hereunder, you may contact us by email at  support@zxtechuk.com . Alternatively, you may contact us by mail at: Zxtech LTD, Berkeley Square House, Berkeley Square, Mayfair, London W1J 6BD, United Kingdom. If we need to contact you e.g., to alert you potential security threat or fraud, we may at our discretion call you, email you or reach out to you via the Company’s App.

 

4.2           Communication between you and us may be in English or Chinese. However, the Chinese language is used for convenience only. Only English communications are recognised for the purposes of these Terms and Conditions.  For clarity, any communication required under these Terms and Conditions including without limitation any request for the provision of any Services or any Instruction, must be in English. However, we may at our discretion assist you, if requested, with translating these Terms and Conditions into another language, in which case please be aware that any non-English version of these Terms and Conditions will not have any legal effect and will be for your information only.]

 

4.3           Communication via email or via the Company’s App is deemed to be made in writing for the purposes of these Terms and Conditions.

 

4.4           For clarity, you may use social media including WeChat to contact us to raise queries, questions, or requests. However, any such communication will not have any legal effect and is used for convenience only. Any communication or notice required under these Terms and Conditions must be done in accordance with clauses 4.1 - 4.3 above.

 

5.              Changes to Contract

 

5.1            We may need to make changes to these Terms and Conditions from time to time. We will notify you of any such change no later than 2 months before the date on which the change is to take effect. You will be deemed to have agreed to any such change notified to you if you do not, before the proposed effective date of the change, notify us to the contrary; and you have the right to terminate these Terms and Conditions without charge at any time before the proposed effective date of the change. This clause 5.1 is subject to clause 5.2.

 

5.2            If we have to make any change as required by Applicable Law (including where there is a change in law), such changes will be made as provided for under such Applicable Law which may be different from clause 5.1. Further, if you are not a Consumer, Micro-Enterprise, or Charity, you agree that we may make changes to these Terms and Conditions at any time by posting notice on the website or via the Company’s App and you will be deemed to have accepted any such change if you continue using the Services after such notice.

 

6.              Miscellaneous Provisions

 

6.1           A waiver of any right or remedy hereunder, or any consent given hereunder, is only effective if given in writing by the waiving or consenting party, only applies in the circumstances for which it is given, must not be deemed a waiver or consent for any other circumstances, and must not prevent the party giving it from subsequently relying on the relevant provision(s).

 

6.2           A failure or delay by a party to exercise any right or remedy provided hereunder or by law, or a single or partial exercise of such right/remedy, must not constitute a waiver of that or any other right or remedy, must not prevent or restrict any further exercise of that or any other right or remedy.

 

6.3           Each party agrees to keep confidential all Confidential Information of the other party obtained in preparation for, during the Term of or otherwise in connection with, these Terms and Conditions. Neither party shall disclose any Confidential Information of the other party to any third party unless agreed by that other party or unless required by law or competent authority having jurisdiction over that other party.

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6.4           These Terms and Conditions constitute the entire agreement between you and us in relation to the subject matter and supersedes any previous agreement or understanding.

 

6.5           The rights and remedies provided under these Terms and Conditions are cumulative and are in addition to, and not exclusive of, any rights and remedies provided by law.

 

6.6           If any provision (or part of a provision) of these Terms and Conditions is or becomes invalid, illegal, or unenforceable, it will be deemed modified to the extent necessary to make it valid, legal, and enforceable. If such modification is not possible, the relevant provision (or part of a provision) will be deemed deleted. Any modification to or deletion of a provision (or part of a provision) under this clause will not affect the legality, validity, and enforceability of the rest of these Terms and Conditions.

 

6.7           Except as expressly provided elsewhere in these Terms and Conditions, a person who is not a party to these Terms and Conditions has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or enjoy the benefit of any term of these Terms and Conditions. This does not affect any right or remedy of a third party which exists, or is available, apart from that Act.

 

6.8           These Terms and Conditions and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation are governed by and construed in accordance with the law of England and Wales. Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction over any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation.

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7.              Term and Termination

 

7.1           These Terms and Conditions will take effect on the date you accept them via the Company’s App or via email (the "Effective Date") and will remain in full effect and force till terminated in accordance with these Terms and Conditions (the "Term")

 

7.2           We may at our discretion terminate this framework contract (as constituted by these Terms and Conditions, see clause 2.2) with you at any time during the Term by giving you a two (2) months' notice. You may terminate this framework contract at any time during the Term by giving us one (1) month notice. We may charge you a fee if you terminate this framework contract within six (6) months of the Effective Date.

 

7.3           We may at our discretion terminate these Terms and Conditions immediately by written notice in the event of:

 

a)              any Force Majeure Event that has a material adverse effect on Zxtech and/or its partners with respect to any of the Services, and that lasts for a period of 30 consecutive days;

 

b)           a material breach by you of any of these Terms and Conditions that is either incapable of being remedied or is capable of being remedied but remains un-remedied within 30 days of you having been notified by us;

 

c)               a material breach by you of any Applicable Law, including without limitation those relating to AML/CTF; and/or

 

d)             any restriction, limitation or requirement imposed by any competent Government Authority or under Applicable Law on the Company,  and/or its partners that has a material adverse effect on the provision of a significant portion or the entirety of the relevant Services being provided to you;

 

e)              you having been or any risk of you potentially being, included on any watch list, sanctions list or other prohibition list issued by competent Government Authority; and/or

 

f)               you having been or any risk of you potentially being, declared bankrupt or insolvent or subject to similar events (you must inform us without undue delay if you become aware that such events will or will likely happen to you).

 

7.4           Each of us and you may terminate these Terms and Conditions, for any reason (or no reason) at any time during the Term, by giving the other a 1-month written notice.

 

7.5           In the event of any termination or expiry of these Terms and Conditions,

 

a)              any Instruction received before such termination or expiry but not yet performed will be performed in accordance with that Instruction, unless you inform us otherwise.

 

b)              your contract with the Company will terminate or expire automatically on the same date, and you will no longer have access to any of the Services, including the Company’s App and any Account you may have which will be closed or terminated. We will notify you of the account closure procedures and how the remaining balance on your Account will be dealt with (if applicable).

 

c)               For clarity, any fees or charges owed by you up to the point of such termination or expiry will become immediately payable and due, you must pay such fees or charges on demand as requested by us and you hereby authorise us to deduct any amount owed by you from any amount standing to the credit of your Account.

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d)               If after notifying you of the closing of your account and you have not not responded within the notice period, we may charge an administration fee of GBP 50 to process the closure of your account. 

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8.              Limitations and Exclusions

 

8.1           To the fullest extent permitted under Applicable Law, Zxtech will not be liable for:

 

a)               any loss, liability or damages which result from, are related to, or in any way are connected with Force Majeure Event or any act or omission committed by you or your Authorised User;

 

b)              any indirect, special, incidental, punitive, exemplary, or consequential damages, or lost profits or revenue, lost business, loss of goodwill, or other loss of economic advantage arising out of or related to your use of the Services or otherwise under these Terms and Conditions, regardless of cause, and whether in contract, tort (including for negligence), strict liability, or under any other theory of liability. 

 

8.2           The aggregate, cumulative liability of the Company arising out of or related to the Services or otherwise under these Terms and Conditions, whether in contract, tort (including for negligence), strict liability, indemnity, or under any other theory of liability, will not exceed the total fees paid or payable to by you during the preceding 12 months for the Service that gave rise to the liability.

 

8.3           You agree to indemnify the Company against any and all actions, claims, costs, damages, demands, expenses, liabilities, losses, and proceedings that the Company may directly or indirectly incur or which are brought against the Company, if you have acted fraudulently, been negligent or misused any of the Services, or due to breach by you of these Terms and Conditions.

 

8.4           If you are not a Consumer, Micro-Enterprise or a Charity, you confirm and agree that the following provisions in the Payment Services Regulations will not apply to the relationship with you or in relation to the Services provided to you: (i) all provisions under Part 6 (relating to certain disclosure requirements) of the Payment Services Regulations; (ii) any and all of: regulations 66(1) (charges), 67(3) and (4) (withdrawal of consent), 75 (evidence on authentication and execution), 77 (payer or payee's liability for unauthorised transactions), 79 (refunds for direct debits), 80 (requests for direct debit refunds), 83 (revocation of a payment order), 91 (defective execution of payer-initiated transactions), 92 (defective execution of payee-initiated transactions) and 94 (liability for charges and interest).

 

8.5            If you provide us an on-going Instruction ("mandate") to operate or manage, acting on your behalf, your Account or any Relevant Payment Account of yours maintained at other payment service provider, (i) we will only act within that mandate and/or any other Instruction you may give in accordance with that mandate; (ii) we are not liable for anything (including without limitation any errors or mistakes in any Instruction) arising from or in connection with us doing so provided that we have implemented your relevant Instruction or mandate correctly; and (iii) we shall not have and do not accept any responsibility for anything (including any loss you may suffer) relating to the said account (including without limitation any blocking, freeze or suspension of the account by the account-servicing payment service provider) that is not caused by us and/or outside the parameters of your mandate. For clarity, you agree that we will assume your mandate or other Instructions are correct, complete, and accurate and that we have no obligations to check the accuracy or completeness of your Instruction or mandate.

 

8.6           If you Instruct us to process a Payment Transaction, we will process that Payment Transaction in accordance with your Instruction and we will refund to you the amount of the Payment Transaction if we processed that transaction incorrectly. However, we are not liable and we do not accept any responsibility for any delay, defect or failure in the processing of the Payment Transaction or any loss you may suffer from these events, if that delay, defect or failure is due to any material error, inaccuracy or incompleteness in your Instruction (including incorrect details of any account you refer to) or any act or omission on your part or is caused by any Force Majeure Event. In these circumstances, we will, upon your request and free of charge, make reasonable efforts to trace such Payment Transaction and provide other reasonable assistance and notify you of the outcome. For clarity, our assistance does not in any way mean that we have accepted responsibility for such delay, defect or failure.

 

8.7            For further clarity, we will comply with the relevant execution time requirements as referred to in clause 9.26. However, this is not in any way meant as a guarantee and we give no such guarantee. We also do not guarantee that we will be able to process your Payment Transactions at all times during the Term. We will have no responsibility if we cannot process any Payment Transaction within those time requirements or if we cannot process any Payment Transaction at all, due to:  

 

a)              any AML/CTF check or concern identified by us;

 

b)              any AML/CTF check or concern raised by our business partners or service providers including banks or any third party involved in processing the Payment Transaction;

 

c)               any IT or technical failure on our side or at our service providers;

 

d)              any regulatory or legal request from competent government authority that leads to the relevant delay or suspension;

 

e)              any failure of any third party involved in processing the Payment Transaction, including but not limited to commercial, technical, or regulatory reasons, that materially affects our ability to perform the Payment Transaction or perform the relevant currency conversion; or

 

f)               any other Force Majeure Event.

 

Where we cannot process your Payment Transaction in time or at all, we will let you know or return your funds to your sending account provided we are not prevented from doing so under Applicable Law.

 

8.8            We will also not be liable nor do we accept any responsibility for the timing of processing your Payment Transactions, if you do not have sufficient funds in your Account or if you failed to place the relevant funds in our account in accordance with our instructions  and within the time as specified by us (including where you provide the incorrect or incomplete reference or where you made a SWIFT/FPS transfer instead of a SEPA transfer.

 

8.9           For clarity, we are not liable, and we do not accept any responsibility for anything (including any loss you may suffer) in relation to any of your Relevant Payment Accounts maintained at other payment service providers that you may use in connection with receiving our Services, including without limitation any blocking, freeze, suspension, closure or other failure of any such Relevant Payment Account. Anything relating to any such Relevant Payment Account are entirely a matter between you and your other payment service provider.

 

8.10         For the purposes of this clause 8 and these Terms and Conditions, a “Force Majeure Event” event means any abnormal or unforeseeable circumstances outside our reasonable control the consequence of which would have been unavoidable despite all efforts to the contrary including without limitation: (i) any failure, interruption or disruption of computer systems (including the Company’s App), Internet, telecommunication or other infrastructure (technological, electrical or other); (ii) flood, earthquake, storm, pandemic, or other natural disaster; (iii) industrial action such as strike or walk-out, government-declared/imposed emergency or intervention, military conflicts or social unrest; (iii) any change in Applicable Law including new mandatory or other legal or regulatory obligations or existing legal/regulatory obligations being enforced/interpreted differently; (iv) any failure, delay, interruption, error, mistake or other act or omission of or by any third party or other service provider, the payee's payment service provider or any intermediaries used by them (such as any correspondent bank), any service provider or intermediaries used by us in connection with the provision of the relevant Services; (v) any closure, freezing, suspension, blocking, denial of access or other failure of any account used by such aforementioned third party service provider or by us in connection with the provision of the relevant Services;  and/or (vi) any other event of similar nature.

 

8.11         This clause 8 does not affect your rights under any Applicable Law including the Payment Services Regulations.

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9.              Provision of Services

 

9.1           Subject to your choices of the relevant Services and clause 8.4, some of the provisions in this clause 9 may not be applicable to you. All references to time are to then applicable local time in London, United Kingdom on the relevant day.

 

9.2           You give us the explicit consent to accessing directly, on your behalf your Account to provide you with the services outlined in these terms and conditions.

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9.3           You may get access to our services and Partner’s Services (collectively Zxtech Services) as an Introduced Client by accepting these Terms and Conditions and Partner’s Terms and Conditions (if applicable).

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9.4          By using Zxtech Service, you confirm that you accept these terms and that you agree to comply with them.

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9.5          You must be over 18 years old and a resident of the United Kingdom to use Zxtech Services.
 

9.6          You shall not impersonate any other person or create a false identity in connection with your use of Zxtech Services.
 

9.7          Only one account can be held in your name or entity name at any time.
 

9.8          You must not use Zxtech Services for financial crime, tax evasion and illegal activities. If we suspect you have used Zxtech Services for any of these purposes we have the right to freeze or terminate your account.
 

9.9         In order to carry out Zxtech Services, Zxtech may be required to share KYC information with its banking/payment partners to comply with its AML obligations. By agreeing to our terms and conditions, you accept that you may receive confirmation from our partners. As part of our onboarding process, a KYC and PEP and Sanction check shall be performed. We will use third party providers to conduct your KYC check. including electronic checks, authentication checks and biometrics checks.

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9.10        If you do not agree to these terms, you must not use Zxtech Services.
 

9.11         The Financial Services Compensation Scheme is not applicable for these Zxtech Services. No other compensation schemes exist to cover losses claimed in connection with your Zxtech Services.

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Account

 

9.13           The Services include the provision of a Premium Account or a Business Account. The Business Account is only available to businesses (whether a sole trader or a typical incorporated company). If you wish to open an Account, you must provide all the relevant information requested by us. Further, we may use certain technologies (including without limitation geolocation technology) to verify the information provided by you; and you consent to us doing so. We have the absolute discretion to decide whether or not to provide you with an Account and what type of Account is available to you.

 

9.14           In order to maintain your Account, you must comply, at all times throughout the Term, with the minimum requirements for such Account as set forth in Schedule [2].

 

9.15           If you wish to close your Account, you must give us a 5 Business Days written notice. We may need to verify your identity and you agree to provide the relevant information as reasonably requested by us

 

9.16           The balance of your Account must never be less than zero. You can add money to your Account ("topping up") via various channels including bank transfers which may be done using the sort code and account number assigned to your Account.

 

9.17           One Client may only apply for one Account, either a Premium Account or a Business Account (as the case may be).

 

9.18           You may access the balance, transaction history and other information relating to your Account within the Company’s App, and you may also set up the relevant notification functionality within the Company’s App so that you will be alerted when certain activity takes place on your Account.

 

9.19           The Account is an e-money product and the e-money associated with it is issued by the account provider. . 

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Instructions for Payment Transactions

 

9.20         With respect to any Payment Transaction or any series of Payment Transactions, you must provide your consent, before the execution of the Payment Transaction or the series of Payment Transactions, in the form of an accurate and complete Instruction for that Payment Transaction or series of Payment Transactions. [You must do so via the relevant function within the App and/or email].

 

9.21         It is your responsibility to ensure that each Instruction is accurate and complete. While your Instruction may be checked or verified as part of the Service Provider's internal procedures, you confirm and agree that we are entitled to rely on the accuracy and completeness of any Instruction without any obligation to carry out any investigation or verification.

 

9.22         If you send an Instruction by 5:00pm (inclusive) on a Business Day, the Instruction will be deemed to have been received on that same Business Day. If you send an Instruction after 5:00pm (exclusive) on a Business Day or if you send an Instruction on a day that is not a Business Day, the Instruction will be deemed to have been received on the next Business Day. If you request to have a Payment Transaction executed on a specific day, on the last day of a certain period, or on the day on which you put funds at the disposal of the relevant Service Provider, your Instruction for that Payment Transaction will be deemed to have been received on that day so requested (the "agreed day").

 

9.23         You are not allowed to revoke an Instruction after it has been received in accordance with clause 9.23, except that:

 

a)              in the case of the Company initiating any Payment Transactions on your behalf, you are not allowed to revoke the order for the execution of that Payment Transaction after you have Instructed the Company to initiate it, and

 

b)              in the case of your Instruction being received on the agreed day as mentioned in clause 9.23, you are not allowed to revoke such an Instruction after the end of the Business Day preceding that agreed day.

 

You may be charged, at our discretion, a fee for revoking the relevant Instruction under this clause 4.6.

 

9.24         Your Instruction may be refused, in which case the reason for such refusal will be provided to you, unless doing so would compromise reasonable security measures of would be otherwise unlawful. You may be charged, at our discretion, a fee for such refusal where the refusal is reasonably justified.

 

Processing payments

 

9.25         For the purposes of this section, "In-Scope Transaction" refers to any Payment Transaction that is to be:

 

a)              executed wholly within the area covering the United Kingdom and the EEA("qualifying area") in Euro under a payment scheme which operates across the qualifying area,

 

b)              executed wholly within the United Kingdom in sterling, or

 

c)              executed wholly under a payment scheme which operates across the qualifying area and involving only currency exchange between the Euro and sterling, and for which the currency exchange is carried out in the United Kingdom and the cross-border transfer (if applicable) takes place in Euro; and "Out-Scope Transaction" refers to a Payment Transaction that is not an In-Scope Transaction.

 

9.26         There are specific execution time and value date requirements, under the Payment Services Regulations, applicable to the In-Scope Transaction and certain Out-Scope Transaction, which vary depending on whether you act as the payer or the payee. The execution time and value date will be notified to you separately via the Company’s App with respect to each Payment Transaction. If you require this confirmation via email please contact us at support@zxtechuk.com.

 

9.27         For clarity, we make no guarantee or assurance that the beneficiary's payment service provider will make the funds available to the beneficiary on the day that it receives them.

 

9.28         If you Instruct us to initiate a Payment Transaction on your behalf, the non-execution or defective or late execution of that Payment Transaction is a matter solely between you and your other payment service provider where the relevant account is held, provided that we can prove that within our sphere of influence the Payment Transaction was authenticated, accurately recorded and not affected by any technical breakdown or other deficiency linked to such non-execution, defective or late execution.

 

9.29         When executing certain Payment Transactions such as wire transfers, we are required under the Money Laundering Regulations to send to the beneficiary's payment service provider certain of your information, including without limitation, your name, address, and Client Account number. You expressly consent to us sending this information, directly or (if there is any intermediary involved in the payment chain) indirectly, to the beneficiary's payment service provider.

 

9.30         We may at our discretion refuse to execute or suspend the execution of, any Payment Transaction if: (i) you have not satisfied your obligations under these Terms and Conditions (including a failure by you to provide accurate and complete Instruction); (ii) you do not have sufficient funds in your Account; or (iii) we believe on reasonable grounds that the Payment Transaction may be unlawful or that any crime such as fraud is being committed with respect to the Payment Transaction. In these circumstances, we will promptly notify you and explain, to the extent permitted under Applicable Law, the reasons for our refusal as well as the procedure for rectifying the matter that led to the refusal. We may at our discretion charge you a fee to cover our reasonable costs for doing this. For clarity, we may be prohibited under Applicable Law from notifying you of our refusal to execute a proposed Payment Transaction and if so, we will have no obligation to do so.

 

9.31         You must notify us without undue delay and in any event no later than One (1) week (in the case of you not being a Consumer, Micros-Enterprise or Charity) or 3 months (in any other case), after the debit date, if you believe that: (i) an Instruction is sent to us without your consent or authorisation; (ii) a Payment Transaction has been otherwise executed without your authorisation/consent; or (iii) a Payment Transaction has been executed incorrectly, defectively or failed to be executed.  If you are late in notifying us, you will not be able to claim the relevant protection under the Payment Services Regulation for any such event, and we will not be liable for any loss you incur.  We may at our discretion assist you in recovering or tracing the relevant Payment Transaction, but we may charge you a fee for providing such assistance.

 

9.32         If your Payment Transaction involves currency exchange, we will confirm the rate of exchange with you at the time of the Payment Transaction. This generally means that once the payment you send to us is confirmed by us, the exchange rate will be fixed at that time and you will not be exposed to the fluctuation of the relevant exchange rate other than by reason of any Force Majeure Event. You acknowledge that: (i) we are only able to confirm exchange rates during the opening hours of the relevant currency market; (ii) we may provide indicative or reference exchange rates outside such hours; and (iii) the actual exchange rate for the Payment Transaction may be different from the indicative/reference rates. In the event of any changes in the relevant exchange rates and notwithstanding anything to the contrary elsewhere in these Terms and Conditions, you agree that these may be applied immediately and without notice where any such changes are based on the indicative or reference exchange rates already provided to you, or the changes are more favourable to you.

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10.            Fees and Charges

 

10.1         You must pay the fees and charges as set out in Schedules 2 and 4, as applicable, in return for the provision of the Services to you.

 

10.2         With respect to any Payment Transaction, we will not deduct any fees or charges payable by you from the amount of that Payment Transaction except that if you are the beneficiary of that Payment Transaction, you agree that we may at our discretion deduct the relevant fees or charges from the amount of that Payment Transaction before crediting it to you; if we do so, we will provide a breakdown of the fees or charges so deducted and the amount of the Payment Transaction credited to you.

 

10.3         The beneficiary's payment service provider, or where one or more intermediaries are involved in the processing of a Payment Transaction (such as an international transfer), such intermediaries, may deduct a charge or fee from the amount received. You confirm and agree that you will be liable for any such charges or fees. We will ensure, to the extent possible, that such charges are disclosed to you prior to us executing the Payment Transaction. You should ensure that you clearly specify how third-party fees and charges should be treated when providing us with any Payment Order. We will not under any circumstances be liable for any direct or indirect losses that results from any such third-party fees or charges.

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11.            Third Party Payment Service Providers

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This section 11 applies when you use the services of an AISP [or a PISP]. In order for us to allow connection to a Third-Party Payment Service Provider you will be required to verify and agree to give permission for them access to your account via a Third Party AISP [or a PISP]. We may deny an AISP [or PISP] access to the online account connected to a card  (if applicable) for reasonably justified and duly evidenced reasons relating to unauthorised or fraudulent access to the online account by that AISP [or PISP, including the unauthorised or fraudulent initiation of a transaction]. If we do deny access in this way, we will notify you of the denial and the reason for the denial in advance if possible, or immediately after the denial of access, unless to do so would compromise reasonably justified security reasons or is unlawful. We will allow AISP [or PISP] access to the online account once the reasons for denying access no longer apply.