GENERAL TERMS AND CONDITIONS FOR SHIFT FINANCIAL SERVICES LT PAYMENT SERVICES
- SHIFT Financial Services LT, legal entity code 304726229, registered office Verkiu St. 27B, LT-09132 Vilnius, Lithuania is a payment institution (license No. 37, issued on 10th of July 2018), supervised by the Bank of Lithuania (www.lb.lt). Data about SHIFT Financial Services LT is collected and stored at the Register of Legal Entities of the Republic of Lithuania (https://www.registrucentras.lt/).
- These General Terms and Conditions (hereinafter referred to as General Terms and Conditions) are an Agreement between the Customer and SHIFT Financial Services LT defining the main terms of SHIFT Financial Services LT services provided to the Customer, governing the procedure for money remittance execution, the rights and obligations of the Customer and SHIFT Financial Services LT as well as the responsibilities related to the services provided.
- The Customer shall be understood in these General Terms and Conditions as defined in the Law on Payments of the Republic of Lithuania, i.e. a natural or legal person, other entity or its affiliates that uses payment services as payers and / or payees.
- Before applying for SHIFT Financial Services LT services, the Customer must carefully read the following General Terms and Conditions, which are an integral part to any other Agreement between the Customer and SHIFT Financial Services LT (agreements, applicable rules, procedures, etc.), and assess the risks that may arise while using the SHIFT Financial Services LT services. SHIFT Financial Services LT provides instructions on safe use of the services and declares that complies with legal requirements.
- The terms and conditions governing the financial services the Customer has selected are set at the bottom of the receipt (form) when the Customer performs the Log in / Sign up. By signing this receipt (form) the Customer agrees to these General Terms and Conditions.
- SHIFT Financial Services LT provides money remittance services nationally and internationally. Every individual money remittance order constitutes a separate agreement between SHIFT Financial Services LT and the Customer which is limited to the execution of a specific money remittance.
- The determination of the exchange rate applicable to the remittance shall be determined by SHIFT Financial Services LT and applied by the service providers, where the exchange rate changes from one country to another according to the Countries’ Monetary Authority and SHIFT Financial Services LT applicable rates. Therefore, the exchange rate noted on the remittance order at the time of sending is an estimated and restricted to receiving the remittance within 24 hours. The Customer shall ask the service provider in case any inquiries regarding the applicable exchange rate to the remittance. The rules and regulations in some countries allow the service providers to collect minimal charges from the sent amount upon remittance delivery process to the receiver.
- In case the payment is executed on SHIFT Financial Services LT website, no physical signature is required, the completion of the remittance order is considered the moment when the approval from the Customer’s side on the General Terms and Conditions is received.
- The moment of order receipt is such moment when SHIFT Financial Services LT receives the funds to be transferred and the fees associated with the remittance. For money remittances instructed in paper form the period extends by a further business day. Business Day is considered a day that is not a Saturday or Sunday or official celebration day in the Republic of Lithuania.
- The Customer is subject to the right at no charge to revoke the money remittance order within 5 (five) business days by writing an e-mail or mail to SHIFT Financial Services LT (see the contacts at Part 12.1.). However, the Customer can not use this right if the money remittance was paid to the receiver before the revoke notification was received.
- SHIFT Financial Services LT remittance services are offered by SHIFT Financial Services LT and its service and sub-service providers in countries where they operate. Information regarding working hours and nearby locations can be obtained by applying to the Support department via contacts listed here: https://shiftremittance.com/contact-us/ or via Online Chat „Ask us“. Services offered to Customers are usually available within minutes. However, services may be subject to restrictions pertaining to the paying service provider. Delay fines and restrictions may be applicable according to requirements in certain countries. For details, do not hesitate to contact us.
- Remittances paid in cash in certain circumstances might be subject to local taxes.
- INFORMATION NECESSARY TO SUBMIT
- The Customer is obliged to provide SHIFT Financial Services LT or its service providers with the following information regarding the receiver in order for a remittance to be properly initiated and executed:
- receiving country;
- delivery type;
- sending or receiving amount;
- payment method;
- receiver’s full name;
- receiver’s address;
- receiver’s phone number;
- receiver’s account details.
- The Customer is obliged to fulfill the identity verification process in face-to-face mode or online, i.e. to submit the personal information (name, surname, date of birth/personal code, address, contacts, etc) and identification document.
- SHIFT Financial Services LT and its Service providers have the right to request any additional information and/or documents from the Customer and/or receiver for the purposes of compliance with applicable legislation (e. g. anti-money laundering and counter terrorist financing) and/or proper initiation and execution of a remittance.
- CHARGES ON REMITTANCE
- Regarding charges on remittance – please make a price inquiry on SHIFT Financial Services LT website (http://shift-sg.com) or application (SHIFT Financial Services LT application is available on App Store and Google Play), or ask your service provider before initiation and execution of your remittance.
- Money remittance payments will normally be made in the currency of the destination country. The currency will be converted at the time of the transfer and the currency transfer fee would be calculated and announced to the Customer before the confirmation of the money remittance order.
- Most currency exchange rates are adjusted several times daily in line with the relevant closing rates of global financial markets. SHIFT Financial Services LT applicable exchange rate may be less favorable than some publicly reported commercial exchange rates used in transactions between banks or other financial institutions. Any difference between the currency exchange rate offered to Customer and the currency exchange rate received by SHIFT Financial Services LTwill be kept by SHIFT Financial Services LT (and, in some instances, its service providers) in addition to the transfer fees.
- SENDING AND RECEIVING MONEY TO COUNTRIES THAT OFFER REMITTANCES SERVICE IN MULTIPLE CURRENCIES
- Remittance charges may vary upon the request to send or to receive the remittances amount in a currency and/or currencies different from the original chosen currency. Moreover, SHIFT Financial Services LT or its Service providers may give the receiver(s) the option to collect the remittance amount in a currency different from the one chosen by the sender and by which the remittances were sent. In such cases, SHIFT Financial Services LT or its service providers may charge additionally.
- In case the payment currency is defined by a currency different from the national currency of the country to which the money is sent and such currency was not available or that most small denominations are unavailable in an amount sufficient to pay the remittance at SHIFT Financial Services LT or its service providers in that country, SHIFT Financial Services LT and/or its service providers shall have the right to pay the remittances totally or partially thereof in the national currency.
- SHIFT Financial Services LT and its service providers may request the remittance receiver to collect the remittance amount in a currency different from that chosen by the sender as currency of payment, in which case the exchange rate applied by SHIFT Financial Services LT and its service providers may differ from the rate applied to a transaction paid in the currency chosen by the sender, in such cases SHIFT Financial Services LT or its service providers may charge additionally. Additional information on the exchange rates is available by contacting SHIFT Financial Services LT by the means mentioned in Part 2.4.
- REMITTANCE EXECUTION TIME
- Regarding the remittance execution time – please ask your service provider before initiation and execution of your remittance, or follow up on SHIFT Financial Services LT website while executing the payment.
- REFUND AND ADMINISTRATIVE CHARGES
- If the remittance is not delivered within 45 business days, SHIFT Financial Services LT or its service providers will refund the principal amount of the remittance and the charges applicable thereon upon the written request of the sender. However, if the delay of delivery was caused by conditions beyond the control of SHIFT Financial Services LT or its service providers, such as non cooperation of the Customer or receiver on the provision of the information and/or documents, inclement weather or telecommunications failure and/or delay of remittance as a result of a demand from the official authorities at the country of payment and/or because of certain other applicable laws, instructions and regulations, SHIFT Financial Services LT shall, to the fullest extent permitted by applicable law, be entitled to deduct the service and administrative charges applicable on the remittance.
- SPECIAL PROCEDURES
- If the receiver does not hold a valid ID card it shall be possible for SHIFT Financial Services LT and its service providers to request the sender to revert to any SHIFT Financial Services LT locations with the voucher and ask to change the receiver’s name to a person having a valid ID card. In such case no additional charges shall be collected from the sender against the corrections. However, different restrictions may be imposed on Remittance from and to some countries.
- RESPONSIBILITY OF SHIFT FINANCIAL SERVICES LT AND ITS SERVICE PROVIDERS
- To the fullest extent permitted by applicable law, SHIFT Financial Services LT and its service providers do not guarantee the delivery or suitability of any remittance(s) made. Furthermore, SHIFT Financial Services LT warns the Customer of risks related to sending money to any unknown person. The Customer shall be notified by the contacts provided if SHIFT Financial Services LT would suspect a fraudulent activity against the Customer and would ask an additional approval for the execution of the remittance order.
- In case unauthorized money remittance occurs, SHIFT Financial Services LT will refund the Customer with a remittance amount promptly, but at the latest by the end of the business day following the day on which SHIFT Financial Services LT was notified the remittance concerned has not been authorized or otherwise became aware of the unauthorized remittance. The notification to SHIFT Financial Services LT regarding the unauthorized money remittance must be submitted with no delay when this fact became known to the Customer in writing by writing an e-mail or mail to SHIFT Financial Services LT (see the contacts at Part 12.1.).
- Limitations of the liability of SHIFT Financial Services LT and/or its service providers for any direct, indirect, special, incidental or consequential damages as a result of failure to deliver and/or delay of the remittances and/or any shortage in the amount of paid remittance due to negligence on the part of SHIFT Financial Services LT or its employees or the service providers or otherwise shall not exceed as a maximum of 500,00 EUR (in addition to the refund of the principal remittance amount), except where applicable law provides otherwise. The foregoing shall not limit the liability of SHIFT Financial Services LT or its service providers for the damages resulting from gross negligence or deliberate misconduct as such restriction and limitation of liability shall be null and void.
- When SHIFT Financial Services LT and/or any of its service providers accept to make a remittance by a check draft, credit or ATM card or any other non-cash form of payment, SHIFT Financial Services LT or its service providers shall not assume any responsibility and liability for not making the remittance and/or delivery if the remittance amount is uncollectible and/or the lapse of time period required for collecting it. SHIFT Financial Services LT and its Service providers shall not assume any liability for damages caused by non-payment and/or non-delivery because of non-collection.
- SHIFT Financial Services LT reserves the right at any time to develop, improve or otherwise modify the service without notice. Any changes shall come into force immediately upon making them and shall apply on all and any remittances initiated thereafter. Changes shall not have retrospective effect and shall not affect remittances initiated before changes came into effect. SHIFT Financial Services LT and any of its service providers assume no responsibility and no liability for any losses and inconveniences to you and/or any third parties, which may be sustained as a result of exercising our right to develop, improve or otherwise modify the service, or Shift SHIFT Financial Services LT and any of its service providers are released from such responsibility and liability.
- SHIFT Financial Services LT and its service providers may refuse to provide services to any person depending on the internal risk control and management procedures and/or policies.
- SHIFT Financial Services LT and/or its service providers may disclose personal information to the official and governmental and local authorities whenever it is requested to do so and to any private institutions in case it obtains permission to that effect from the official and/or judicial authorities. Such disclosed information may include information describing you the transaction with SHIFT Financial Services LT: personal ID information, name, telephone number, address and other information about senders and recipients. Otherwise, SHIFT Financial Services LT and its service providers guarantee the protection of your personal data under applicable laws. SHIFT Financial Services LT and its Service providers policy is always to comply with applicable laws, instructions and regulations and may be viewed on the web page https://shiftremittance.com/company/
- The Customer agrees that the language of these General Terms and Conditions and any agreements thereof as well as communication between the Customer and SHIFT Financial Services LT (including the service providers) is to be English or Lithuanian.
- CUSTOMER SUPPORT, INQUIRIES, COMPLAINTS
12.1 For any inquiries or complaints the Customer or any other person may contact SHIFT Financial Services LT support via contacts (phone number, email, registered mail) listed here: https://shiftremittance.com/contact-us/ or via Online Chat „Ask us“.
SHIFT Financial Services LT
Verkiu St. 27B, 2nd Floor, LT-09132, Vilnius, Lithuania
Phone number: +370 5 233 3339
12.2. In case the Customer is not satisfied or has not received an answer to the submitted complaint, he / she has the right within 1 (one) year from the date of application to the SHIFT Financial Services LT to apply to the Bank of Lithuania (address: Žalgirio St. 90, LT-09303 Vilnius, website: www.lb.lt) regarding the out-of-court dispute settlement procedure in the Bank of Lithuania in accordance with the procedures established by legal acts. The requirements for the application and the procedure for submission shall be established by the Law on the Bank of Lithuania of the Republic of Lithuania. For more details on SHIFT Financial Services LT complaint procedures and terms, please see SHIFT Financial Services LT Complaint Investigation Policy published at https://shiftremittance.com/company/
- APPLICABLE LAW, JURISDICTION
- These General Terms and Conditions are governed by Lithuanian law. The place of fulfilment is Vilnius, Lithuania.
- If the dispute cannot be resolved amicably or by other extrajudicial dispute resolution, the dispute shall be resolved by courts in accordance with the procedures established by the laws of the Republic of Lithuania on the basis of the location of registered office of SHIFT Financial Services LT.