Terms and Conditions for using SHIFT Financial Services LtdLast Updated: 15 Dec. 2023 IT IS IMPORTANT FOR YOU TO READ AND UNDERSTAND OUR TERMS AND CONDITIONS BEFORE YOU ACCEPT THEM. THEY CONTAIN LIMITATIONS ON THE SCOPE OF OUR OBLIGATIONS TO YOU, AS WELL AS LIMITATIONS AND EXEMPTIONS FROM OUR LIABILITY TO YOU FOR DAMAGE THAT YOU MAY SUFFER AS THE RESULT OF USING SHIFT FINANCIAL SERVICES. Our Terms and Conditions use the following definitions: Bank Card refers to a Visa® or MasterCard® debit card Card Issuer refers to the issuer and the owner of a Bank Card Payment Method refers to the options available to the Sender to fund a money transfer through SHIFT Financial Services Ltd, which may vary from country to country and may include Bank Cards, bank accounts and other payment methods Prohibited Purpose refers to any unlawful purpose; including but not limited to, making or receiving payments for gambling services, gambling chips or gambling credits; or sending a payment to yourself as the Receiver in order to evidence financial soundness (RISK OF FRAUD); or sending or receiving money on behalf of someone else. Receiver refers to the person named as the beneficiary of the money transfer Sender refers to the person who initiated a money transfer through SHIFT Financial Services Ltd Transaction refers to every money transfer that You initiate through the SHIFT Financial Services Ltd SHIFT, We, Our or Us refers to SHIFT Financial Services Ltd and also includes SHIFTs affiliates or agents insofar as these assume operations which otherwise would have to be performed by SHIFT in order to provide the Service. SHIFT Website or Website refers to the website which We operate in order to provide online money transfer services; and You, Yours or Your refers to every and any person using the SHIFT Website as a Sender. ABOUT USSHIFT Financial Services Ltd is a UK based limited liability company (hereinafter, “SHIFT”) with its registered office at The Charter Building (Grand Floor), Charter Plc, UxbridgeUB8 1JG. SHIFT is authorized by the Financial Conduct Authority as an Authorized Payment Institution (FRN 707134). SHIFT Financial Services Ltd. is licensed and regulated by the HMRC as a Money Services Business (CRN 06882651). Customers may contact or obtain information by calling this telephone number: +44 7944 936988. SHIFT carry out e-money services and remittance business in United Kingdom and serves more than 90 countries, covering most of Europe, Asia, Africa, the Americas, as well as Australia. TRANSFER FEESInformation explaining how SHIFT charges the Sender for making a money transfer is available on the SHIFT Website and is shown to the Sender prior to completion of the money transfer transaction. The specific transfer fees for a money transfer transaction are indicated in the “Send Money Online” field at www.shifttransfer.com simply select your destination country, enter the amount to be transferred and click on “Calculate”. The Sender shall bear all fees due to complete the money transfer unless applicable law in the destination country requires otherwise. In certain cases, money transfer payments may be subject to local taxes and service charges (Back-end charges). The Receiver may incur additional fees for receiving the Senders funds through an account-based money transfer, a mobile telephone or to a bank account. Money transfers should be sent to a Receivers local currency account, otherwise the receiving institution (where the Receiver has his or her account) may convert the funds at its own exchange rate or may even reject the money transfer. The Receivers agreement with his or her mobile phone service provider, mobile wallet account provider or other account provider governs the account and determines their rights, obligations, applicable fees, funds availability and account limitations. SHIFT may charge additional fees associated with the use of an account for sending or receiving a money transfer. SHIFT does not assume any liability pertaining to costs which the Sender or any account holder incur in conjunction with the exchange rate used for the conversion into non-local currencies or for actions or omissions on behalf of the destination or interim financial services provider. FOREIGN EXCHANGEMoney transfer payments will normally be made in the currency of the destination country (in some countries payment is available only in an alternative currency). All currency is converted at SHIFTs then current rate of exchange. SHIFT calculates its rate of exchange based on commercially available interbank rates plus a margin. Most exchange rates are adjusted several times daily in line with the relevant closing rates of global financial markets. The exchange rate for a money transfer is indicated to You at www.shifttransfer.com after selecting the destination country in the “Send Money Online” field, entering the amount that You intend to transfer and clicking on “Calculate”. The currency will be converted at the time of the transfer and the Receiver will receive the foreign currency amount shown during the transfer process. However, in some countries local regulations require money transfers to be converted only when they are paid out. If the Sender is sending the funds to one of these countries, the exchange rate noted above is only an estimate, and the actual exchange rate will be determined at the time of payment. OUR RESPONSIBILITY TO YOU1. We declare Our willingness to provide to You the money transfer services and the respective information in accordance with these Terms and Conditions in the form of individual payments and to exercise reasonable care. 2. We do not assume any liability for: goods or services which You pay for using SHIFT, and here in particular their delivery malfunctions in communication facilities over which We have no control the loss of data or the delay in transmissions caused by using an Internet service provider or a browser or other software over which We have no control the services provided by Your Card Issuer viruses originating from third parties errors on the SHIFT Website or with the SHIFT Online Service that are the result of incomplete or wrong information that You or a third party provided the unauthorized use or interception of information prior to reaching the Website; or the unauthorized use of or unauthorized access to data in conjunction with You or Your Transactions which We process unless such use or such access is the result of negligence on Our behalf. 3. We are under no obligation towards You to initiate or execute a money transfer if: We are unable to obtain sufficient evidence of Your identity We have reason to believe that the Transaction information is incorrect, unauthorised or forged You have provided Us with wrong or incomplete information or We do not receive Your Transaction information in a timely manner in order to guarantee the timely execution of the requested money transfer; or Your Card Issuer does not authorise the use of Your Bank Card to pay for the Transaction and Our fees. 4. We do not assume any liability for loss or damages caused to You or any third party from the non-payment or late payment of a money transfer to a Receiver or if the SHIFT online service fails or declines to execute a Transaction by reason of any of these matters. 5. We have the right, in our sole discretion, to refuse to provide you either partially or in full or to cancel or suspend a Transaction if such use constitutes a violation against SHIFT regulations (including regulations aimed at preventing fraud, money laundering or financing terrorism), these Terms and Conditions and/or against applicable law, a court order or requirements of a regulatory or government authority or any other body having jurisdiction over us or, if We consider such a step necessary to protect Our own interests. If We refused to provide the SHIFT service (partially or in full) to You for any of the above reasons, We will notify You accordingly if possible and give reasons for Our refusal unless We are prevented from doing so for legal reasons. It is a breach of these Terms and Conditions to use the SHIFT services for any Prohibited Purpose. 6. We may, in our absolute discretion, impose limits on the Transaction amount, either on a per Transaction basis or on an aggregated basis. 7. We are entitled to either partially or fully cease operating the SHIFT Website or the SHIFT Online Service if circumstances that are beyond Our control compel Us to take such action and which We therefore consider appropriate (“Force Majeure”). If the services provided on the SHIFT Website should be interrupted for whatever reason (whether by Us, a third-party provider or in any other manner), We shall take adequate measures to keep the duration of this interruption as short as possibleb> YOUR RESPONSIBILITY TOWARDS US1. You agree and declare that You will pay to Us Our fees (see also clause for transfer fees above) for every money transfer which You initiate via the SHIFT Service. 2. the money transfer plus Our fees for the respective Transaction being cleared by Your Card Issuer, or that this amount is transferred from Your bank account, to Us, prior to Us executing the transfer or any other Transaction. Prior to the final authorization of the Transaction, You will be notified of the precise amount which We will clear with Your Card Issuer or which We will debit from Your bank account. 3. You consent to and acknowledge the following: The information provided in order to effect an online money transfer is true, accurate, current and complete You will provide Us with any identity, verification or further information or documents as may be requested by Us You must share the Transaction data (amount of money, Your name, Your country, name of Receiver and RTC) with the Receiver only. You are obligated to ensure that no third party can gain unauthorized access to this information. We recommend that You transfer money only to beneficiaries that You know personally You shall not provide false, inaccurate or misleading information You shall not use any anonymizing tool that attempts to make your activities untraceable You shall not use the SHIFT Service for Prohibited Purposes Within the framework of the SHIFT Service You will not initiate money transfers which violate these Terms and Conditions or any other restrictions of use or terms of use as set forth on the SHIFT Website; and You are personally responsible for keeping Your password and Your username safe. 4. In the event of loss, theft, copy or the misuse of the Transaction data You must immediately notify Us by telephone Until the moment when SHIFT has been notified You will be liable to Us for damages resulting from the improper use of the Transaction data if You have passed such information to any person other than the Receiver of the money payment or if You have facilitated the improper use of the payment instrument with fraudulent intent or violated Your duty of care intentionally or with gross negligence. Upon receipt of the notification by SHIFT You are released of any further liability unless You contributed towards the misuse with the intent to defraud. You shall equally notify Us immediately upon learning of a money transfer which You did not authorize or which was executed erroneously. 5. You consent to and acknowledge that We may forward any particulars about You and the Receiver and about the services that We provided to You if necessary to regulatory or government authorities or their bodies if: we are obligated by law to do so; or we are of the opinion that such a disclosure may assist in the prevention of fraud, money laundering or other crimes. 6. It is your responsibility to ensure all details are accurate before you submit a Transaction request. Once a Transaction request has been submitted, it is not normally possible to amend details of that request. You will have the opportunity to review and confirm all Transaction details before submission. CUSTOMER SERVICEIf You detect errors or encounter problems on the SHIFT Website or with the SHIFT Service, please contact Us by e-mail or by telephone PASSWORD AND SECURITYPrior to the first money transfer order You will be asked to provide a password and a valid e-mail address as Your username. The password and the username must not be used by any other person than Yourself. It is Your responsibility to keep Your password and Your username safe as well as all Transactions carried out using Your password or Your username. NEVER SHARE YOUR PASSWORD WITH ANYBODY AND DO NOT WRITE IT DOWN ANYWHERE! You consent to notifying Us immediately of any unauthorized use of Your password or of Your username or of any other breach of security, by telephone. Once You have informed Us of the unauthorized use of Your password or Your username We will immediately take all the necessary steps to prevent any further use of this information. Prompting these steps does not make Us liable for any loss or damage that are the result of Your failure to comply with Your duty in accordance with this paragraph. However, You might be entitled to the reimbursement or credit of a certain amount from Your Card Issuer if Your Bank Card or Your bank account were used in a fraudulent manner. ACCOUNT CLOSURE DUE TO COMPLIANCE ISSUEIf a customer initiates a transaction, we shall temporarily hold the transaction within the compliance department. Simultaneously, we reach out to the customer, requesting the missing information needed to release the transaction. If the customer does not provide the required KYC documents within 15 days, the next course of action would be to refund the funds to the customer, block their account for future use and take further compliance action. During the onboarding and periodic review of the customer accounts if any KYC or CDD documents are pending or missing, the documents will be requested by the customer service team by email from the client and allow a 15-day window for the customer to respond. If the customer does not respond within this timeframe, the account will be deactivated. Subsequently, inform the customer of the account deactivation due to the missing KYC information and instruct them to contact the customer service team. They should be guided to upload the necessary documentation to reactivate the account. The reactivation process will be handled by the compliance team after a thorough review of all submitted documents. ACCOUNT CLOSURE DUE TO INACTIVITYIf the registered customer, did not send transaction during one year, then the registered account will be inactive, and if the customer completed two years without any transaction, then the registered account will be removed. If the registered customer looking to activate their account again within one year, then they must follow Re-KYC process again by contacting support@shifttransfer.com and perform at least one transaction. If the removed registered account looking to register again; they need to do full new registration. COMPLAINTS HANDLING POLICYThe contact details for complaints relating to services provided by SHIFT Financial Services ltd (hereinafter “Shift”) Shift is dedicated to providing a quick and expert service. Every time a member of the public approaches us, we strive to respond with prompt, polite, helpful, open, and educational counsel. We are constantly interested in hearing what our customers, especially the general public, think about our performance in general, including what we do well and poorly. We acknowledge that, like all companies, there are times when things go wrong and we fall short of the standards of service we have set. We are especially interested in hearing about these incidents since they provide us the chance to make amends and learn from our mistakes. We can then do it correctly the following time. TYPES OF COMPLAINT HANDLEDHandling complaints quickly, fairly and helpfully is a key part of our approach to service delivery. Examples of complaints about a service provided by SHIFT might include: Dissatisfaction with the way in which we respond to an enquiry, or the time that we took to respond A perceived injustice because of alleged maladministration on our part A denial of a request for information made under the Freedom of Information Act Dissatisfaction with the way in which our assets are maintained; or Dissatisfaction with the response to a request for our services to be provided in a different format. When things go wrong, Our Company may not always deliver the level of service that is expected. When this occurs, we’ll try to: Make filing a complaint as simple as possible Treat complaints seriously, whether they’re submitted in writing by letter, fax, email, or telephone Address them quickly, courteously, and when necessary, informally (for instance, by telephone) Include in our response an apology for any errors we made, an explanation of the situation, or details on any actions taken Learn from complaints. HOW TO MAKE A COMPLAINTYou can make a complaint in writing by letter, email or by telephone. If you are emailing, please let us know if a reply by email is acceptable and, if not, please provide a telephone number or full postal address. Complaints should normally be directed to the member of staff with whom you have been dealing. This will give them the opportunity to explain what actions have been taken and to try to sort things out with you. If you would prefer, you can ask the member of staff for the name of their line manager and direct your complaint to them. WHAT HAPPENS NEXT?We will make every effort to thoroughly, equitably, and courteously evaluate complaints and respond as soon as possible. We aim to respond to complaints within 15 working days of receiving them. If it is not possible to provide you with a complete response within this time frame, such as when a thorough investigation is required, we will provide you with an interim answer outlining the steps being taken to address your complaint as well as when and from whom you can anticipate a complete response. Your issue should be resolved as a result of our initial answer to your complaint, but if you are dissatisfied with it or need more assistance, you can write to our company’s complaints officer, who will reexamine the situation and try to find a solution. If you’re still not satisfied with the response even after this step, you might want to get in touch with the Financial Ombudsman Service (FOS) for more advice and direction. Your legal rights will not be impacted by this. FINANCIAL OMBUDSMAN SERVICESouth Quay Plaza All complaints are recorded by SHIFT and we provide a summary of all complaints to the Financial Services Authority. These statistics are also used internally to improve our products and services. COMPLAINTS HANDLING PROCEDURESThe Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS) complaint management procedures are proudly followed by SHIFT. We are aware of our responsibility to satisfy customers who are unhappy with our service by resolving any complaints within eight weeks of notification. In the event that this is not feasible for whatever reason, we will explain why we are unable to do so and offer the customer an alternative completion date. The FCA or the FOS may be able to take the complaint under consideration if we are unable to settle it within this timeframe, to the Customer’s satisfaction, or if the Customer refuses to accept a postponed date. ACKNOWLEDGEMENTWithin five business days of receiving a complaint, we will acknowledge it in writing (business days are Monday through Friday, except federal holidays). Details about our complaints procedure and your ability to take your complaint to the Financial Ombudsman if you disagree with our evaluation and decision will be included in the letter. MONITORING OF COMPLAINTSOur Company is required by the FCA to keep detailed documentation on individual complaints. We are required to report relevant complaints to the FCA and also to our Insurer on a regular basis. Private information will not be shared with any 3rd parties and we comply with the Data Protection Act 1998. These details will usually include as a minimum; The nature, date and method of communication of the complaint The complainants details How the Complaint was dealt with (outcomes) Whether the complaint was upheld or refuted Whether the complaint was closed (addressed to complainants satisfaction) or whether it remains open and outstanding What financial redress or other significant outcome resulted from the complaint HOW TO COMPLAIN ABOUT THE USE OF YOUR DATAIf you wish to raise a complaint about how we have handled your personal data, including in relation to any of the rights outlined above, you can contact us at email support@shifttransfer.com and we will investigate your concerns. You can file a complaint with the Information Commissioner’s Office (ICO) if you are unhappy with our response or think we are handling your data improperly or unfairly. You can contact the ICO by phone at 0303 123 1113 or start a live web chat at https://ico.org.uk/make-a-complaint to file a complaint. The Information Commissioner is unable to personally address every issue that the public brings to their attention. Such casework correspondence is delegated to the Commissioner’s staff for handling. Visit https://ico.org.uk/concerns to learn more about the ICO and their complaints process. We may change the content or services found on our Site at any time without notice and, consequently our Privacy and Fair Processing Notice may change at any time in the future. |
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SHIFT Financial Services Ltd is authorized by the Financial Conduct Authority as an Authorized Payment Institution (FRN 707134). Copyright © SHIFT Financial Services |