Intergiro business terms and conditions v.1.0
1. Introduction and definitions
1.1 Scope of Terms and Conditions
1.2 Who we are
Intergiro is affiliated under Financial Transactions Control Systems Sweden AB (publ) (FTCS), a public limited liability company in Sweden. We offer technology-based financial services such as transfers of funds and currency exchange via our website www.intergiro.com. We are licensed as an Electronic Money Institution by the Swedish Financial Supervisory Authority (Finansinspektionen) to issue and redeem electronic money, license number 48003.
Frequently used terms in this agreement have the following meaning, unless otherwise stated:
Customer/You: refers to the company who is registered to use our services, the E-wallet user.
Customer Support: refers to our customer support which is available to resolve and help you with all enquiries regarding Intergiro.
Director: an individual that is legally authorised to sign for the firm.
E-money (electronic money): means electronically stored monetary value as represented by a claim on us which is issued on receipt of funds for the purpose of making a transaction and which is accepted by a natural or legal person, other than us.
E-wallet: means the account (IBAN) containing E-money in a specific currency. Opened by you and maintained by us.
Fees: means the charges payable by you to us for using our services.
IBAN: International Bank Account Number, an international system for identifying bank accounts across international borders.
Intergiro: the E-wallet product under the entity of FTCS.
Regulatory requirements: means any law, statute, regulation, order, judgement, decision, recommendation, rule, policy or guideline passed or issued by parliament, government or any competent court or authority or any payment system (including but not limited to bank payment systems, card payment systems such as Visa, MasterCard, or any other payment, clearing or settlement system or similar arrangement that is being used for providing the services).
Signatory: is a person who has been appointed with the powers to commit the authorizing of an organization to a binding agreement.
Transaction: means the transfer of E-money from one IBAN to another, or contain an exchange between currencies.
We/Us: Financial Transactions Control Systems Sweden AB (publ) (FTCS) organisation number: 556965-3537, VAT-number: SE556965353701.
1.4 How to contact us
You may get in contact with us through email (firstname.lastname@example.org) and by our online messaging system when logged into Intergiro. Our headquarters is at Kungsgatan 10,111 43 Stockholm, Sweden.
1.5 Who can use our Services
At least one of the E-wallet users must be a Director or other individual that is legally authorised to sign for the customer. Upon registration you confirm that you have the authority to bind any business or entity on whose behalf you use our services, and that the business you represent accepts our Terms and Conditions. The access to the E-wallet is valid until the authorization is revoked. If your company changes any signatories you must notify us immediately so that we may change the access to the E-wallet accordingly.
1.5.2 Age limit
Any individual empowered to act on behalf of a company must be 18 years or older to use our services. Upon registration you declare that you are 18 years or older and we may ask you to prove your age at any time.
1.5.3 Not violate any applicable laws
You may only register an E-wallet if it is legal to do so in your country of residence. By opening an E-wallet you represent and warrant us that your opening does not violate any laws or regulations applicable to you. You shall indemnify/compensate us against any losses we incur in connection with your breach of this section.
1.5.4 High Risk and Non-Cooperative Jurisdictions
If you are resident in any of the high risk and non-cooperative jurisdictions according to FATF (OECD Financial Action Task Force) you may not use our services. Any payments or transactions with individuals or entities residing in these countries is not permitted. We have the right to block transactions to high risk and non-cooperative jurisdictions outside the EEA-area and E-wallets that are used in this purpose. If we believe your usage violates our Terms and Conditions or applicable law we may terminate all of the services related to your E-wallet with immediate effect.
1.5.5 Restricted use
We do not accept; (i) non-commercial transactions; (ii) FX speculation activities; (iii) depositing activities as a main purpose; or; (iv) to deliver correspondent banking services.
1.6 Changes to our Terms and Conditions
These Terms and Conditions may be subject to changes over time. Changes will be implemented with prior notice from us through our web-based messaging system, which you access by signing in to your account, or by email. We will provide a copy of the changes on our website. Information about changes of our Terms and Conditions will be communicated via email and our online messaging system, before the changes are due to occur. You will be deemed to have accepted such changes unless you notify us otherwise before the proposed date of change. Should you not agree to our Terms and Conditions you may terminate the agreement before the new proposed Terms and Conditions enter into force.
1.7 Applicable laws and regulations
This agreement is prepared according to the provisions of the law on anti-money laundering (AML) and counter financing of terrorism of the European Union and EEA legislation. We are regulated under: Lagen om elektroniska pengar (2011:755), Föreskrifter och allmänna råd om institut för elektroniska pengar och registrerade utgivare (FFFS 2011:49), Lag om åtgärder mot penningtvätt och finansiering av terrorism (2017:630), as well as EU-legislation for Financial Institutions Issuing Electronic Money deriving from the AML Directive (2015/849/EC). Your E-money is issued in accordance with the Electronic Money Directive (2009/110/EC) and protected thereof. The E- wallet is not equivalent to a bank account and is as such not covered by the Swedish National Debt Office and Lagen om insättningsgaranti (1995:1571). We are compliant with the national and European anti-money laundering and terrorist financing regulations and will therefore investigate and report all fraudulent acts to the relevant law enforcement agency.
This agreement and performance shall be governed by and construed in accordance with Swedish law regardless of the venue or jurisdiction. All disputes arising out of this agreement shall be resolved by Swedish Courts, except where European Union legislation or Swedish law requires a specific dispute to be resolved by the courts of another jurisdiction.
2. Your Intergiro E-wallets
2.1 Creating an E-wallet
2.2 Identification process
We are legally required to know our customer and you are as such responsible for providing us with truthful and relevant information requested by us. In accordance with this we will document and verify your identity as well as the nature of the business relationship. As such, identification and verification documents may be requested by us at any time, in addition to other documents, to fulfill the applicable laws and regulations. To counter fraud and other risks we may do additional checks on your identity to ensure your suitability.
2.3 Transferring of funds
You can transfer funds to your E-Wallet by signing into Intergiro.com. You may be presented with a number of different methods depending on the payment methods available in your country of residence (Swish, SEPA, Card). We take any violation of this requirement very seriously and will treat any attempt to use a payment instrument of which you are not the named holder of as a fraudulent act. Before transferring funds, you may be asked to answer security questions or to complete other activities that we may require ensuring proper authorization of a transaction. When you transfer money to your E-wallet, we have no influence on the timeframe your bank has for processing the funds. All transfers will be displayed in your online transaction history together with all charges.
2.4 Payment details
You are responsible for ensuring that the payment details you provide us are accurate and correct. Once payment instructions have been executed by us, transactions cannot be reversed and we will not be liable in any way or for any loss you suffer as a result of a transaction being carried out in accordance with your initial instructions. In the unlikely event that you notice an error in either the payment sent or received as a result of using the service, you should immediately notify customer support. If you note that you have received a payment that differs from what you were expecting, you must immediately notify us so that arrangements can be made for any overpayment to be returned.
2.5 Sending money
You can send E-money from your wallet to any third party with an IBAN account. We may ask you for additional security questions when making a transaction. When placing the payment order and initiating the transaction you cannot cancel or reverse the transfer. Placing the payment order gives us the right to execute the payment. If there are insufficient funds on your E-wallet we do not have any obligations to complete the transaction. We may refuse a payment order if the name and address does not match the details of the receiving part. If there is any administration fee associated with such a transfer you are to be held accountable for this and we will automatically deduct this from the funds before returning them.
2.6 Fees and Charges
When entering this agreement, you grant us the right to withdraw any fees and charges as shown by our Product Information on our website which may be updated from time to time. By accepting this agreement you give us full authorization to deduct these charges from your E-wallet which will be disclosed on your online history.
We will continuously display your incoming transfers via the transaction history available in your E-wallet. It is your responsibility to regularly keep track of deposits in your E-wallet to detect any irregularities. If there has been an incorrect deposit on your E-wallet, we will contact you on behalf of the sender to investigate the situation and reserve our rights to reverse the transaction.
If your E-wallet is overdrawn due to deducted fees or if a transaction has been reversed you shall immediately cover the balance. We reserve the right to take fees owed in whatever currency is available, using the interbank exchange rate. To counter fraud and other risks, we reserve the right to perform additional checks on your identity to ensure eligibility.
2.7 Currency conversion
If you make a transaction that is subject to a currency exchange, the exchange rate will be determined by a financial institution. The currency conversion is based on our interbank rate and will be adjusted continually. If you execute an inaccurate payment that involves a currency conversion you are to be held responsible for the payment and possible losses associated with the exchange rate.
3. E-wallet safety
3.1 Safety measures - Our obligations
We will take all reasonable measures to prevent unauthorized use of your E-wallet. In the event of fraud, theft or any unauthorized use you must immediately notify us without any delay by contacting our customer support. We may suspend or restrict the use of your E-wallet if we suspect that an unauthorized or fraudulent use of your E-wallet has occurred or that any of its security features have been compromised. In the case of any incorrect or misdirected payment that you are not liable for, we aim to take reasonable measures to assist you with tracing and recovering such payments.
3.2 Safety measures - Your obligations
Despite our desire to keep your E-wallet safe you must take your own measures to secure your E-wallet. We encourage you to change your password frequently and ensure that it is not reused across other online accounts. Make sure to always follow recommended password management practice and do not disclose your password or your customer details. Do not let anyone access your E-wallet or watch you accessing it. Do not grant access of your E-wallet to a third party. Do not let your login or password details be stored, cached or recorded at any computer or browser. If you suspect your E-wallet or other security credentials as stolen, lost, used without your authorization or otherwise compromised, you must contact customer support. Being inattentive with your login credentials as well as not notifying us may not only affect the security of your E-wallet, but may result in you being liable for any losses as a result. If you suspect that your E-wallet is being accessed by someone else, you should also contact the police and report the incident. Should your mobile phone get stolen or lost we strongly recommend that you change your mobile phone number in your profile as soon as possible.
3.3 Restricted activity
By creating an E-wallet you consequently agree to not involve in any of the following restricted activity; It is strictly forbidden to use your E-wallet for purposes including fraud, money laundering, terrorist financing or other criminal activities specifically prohibited by law in the country of your residence. It is also strictly forbidden to receive E-money from persons or entities engaged in fraud, money laundering, terrorist financing or other criminal activities specifically prohibited by law in that person's country of residence. We do not provide our services to businesses or support transactions which involve illegal goods, such as narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety. Transactions that derive from illegal activities are strictly forbidden. If you act in breach of our Terms and Conditions or we believe that you may be doing so we reserve the right to investigate, refuse to execute or reverse the transaction and terminate or suspend your E-Wallet as well as report the transaction to the relevant law enforcement agency.
4. Our liability
4.1 Abnormal and unforeseeable circumstances
We are not liable for any loss or for any failure to fulfil our duties under this agreement if such loss or damage is due to abnormal and unforeseeable circumstances beyond our reasonable control. Loss or damages is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both parties could foresee the outcome, e.g. if you discussed it with us during your onboarding process.
4.2 Other specific circumstances
We are not liable for any losses due to our compliance with legal and regulatory requirements.
We are not to be liable for any loss or damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programs, data or other proprietary material related to your use of our services.
We are not liable for losses that arise from unauthorized payments due to your failure to keep security features of your E-wallet safe.
We are not liable for any damages that may occur due to the fact that you have not informed us of new company signatories.
We are not liable for your losses due to your failure to notify us within reasonable time regarding anything that could cause an economic loss to you.
We are not liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying transaction between you and your counterpart in any transaction.
We are not liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation.
We are not liable for any acts or any fees charged by third parties, such as other banks, for use of their facilities or services, or for the assessment or payment of any taxes, duties or other charges that arise from an underlying transaction.
We are not liable for any fraudulent act conducted by any third-party contacting you posing to be representing for example Intergiro, a well-known company or a friend of yours asking you to disclose your customer details such as password, logins etc. We never request that kind of personal information from you nor would we instruct you to conduct a transfer on our initiative.
4.3 How we may contact you and changes to your contact details
You are required to provide us with correct contact information and obligated to update this information continuously. We may contact you by email or telephone when necessary. You will receive a notification to your email that you have a message to read at Intergiro. You agree to be contacted by our internal messaging system regarding changes to terms, prices and offers. We may send general information which are not provided specifically for you to your email address. We are not to be held as responsible for personal damage or loss due to the fact that your provided contact information is incomplete, incorrect or out of date.
5. Terminating your E-wallet
5.1 How to terminate your E-wallet
With this agreement you accept all our terms and conditions for the period of time from when you successfully register for an E-wallet at Intergiro until the E-wallet is terminated for whatever reason. You can choose to terminate your E-wallet at any time, by contacting us, except for when restrictions in section 5.3 are applicable. If you terminate your E-wallet, we have the right to cancel any pending transactions. When an E-wallet is terminated we will transfer the remaining balance in accordance with your instructions. If you are a legal representative of an E-wallet at times of death or other reasons for inaccessibility please contact our customer support for assistance.
5.2 When we can end this agreement or suspend your services
We may terminate this agreement, by notifying you in our internal messaging system or otherwise, and terminate your services immediately in the following circumstances:
If you do not comply with this agreement.
If we have reason to believe that you will use, are using or intend to use your E-wallet for criminal purposes or unlawfully behavior. These criminal purposes include fraudulent behavior, money laundering, financing of terrorism or if you in some other way use the E-wallet in a grossly negligent manner.
If we have any concerns regarding the security.
In the circumstances mentioned in section 2.5.
If your usage of our services violates any law or regulations or if we need to comply with the law.
If you overdraw your E-wallet or in any way is unable to pay your debts as they are due.
If payment difficulties arise in connection with filing for bankruptcy, insolvency, liquidation or similar proceedings.
You may at any time terminate this agreement without any reason. We may also terminate this agreement without reason with a notice of 60 days prior to the termination. If there is an available balance on the E-wallet, the termination procedure will follow as mentioned below in section 5.4.
5.3 Limitations on termination of your E-wallet
You are not allowed to terminate your E-wallet in order to obstruct an ongoing investigation. If you terminate your E-wallet on such occasion, we reserve the right to hold your funds for the time necessary to complete investigation. The reason for holding your funds reserved is to protect Intergiro or a third party against risks for claims, fees, fines, penalties, chargebacks and all other examples that can classify as liabilities.
5.4 Unclaimed balances on your E-wallet
We reserve the right to terminate your E-wallet after two (2) years of inactivity. If the E-wallet is terminated we will notify you by our internal messaging system or otherwise of the fact. If we are unable to complete the payment to you we may deposit the money, after reservation for fees, on your expense to the County Administrative Board of Stockholm, Sweden (Länsstyrelsen i Stockholm) postadress: Box 22067, SE-104 22 Stockholm, Sweden. Visiting address: Regeringsgatan 66, telephone: +46 10 223 10 00. When the balance is deposited at the County Administrative Board of Stockholm the responsibility of Intergiro ceases and fees and taxes will apply according to the rules and jurisdiction of the County Administrative Board.
Our goal is to meet you with the highest possible service. If you are not satisfied with our services we ask you to contact our customer support according to the contact information which you will find at our website and in the end of this agreement. We will do our best to resolve all complaints as efficient as possible.
Contact us at email@example.com