Terms of Use

Terms and Conditions – Smart Transfer


This Agreement is a contract between you and SmartTransfer and applies to your use of the SmartTransfer services (the "Services").

By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement. This Agreement is provided to you and concluded in English. You agree that any use by you of the Services shall constitute your acceptance of the Agreement and we recommend that you store or print-off a copy of the Agreement (including all policies) for your records.

Please read this Agreement carefully and make sure that you understand it fully before using the Services. Please note that if you do not accept this Agreement, you will not be able to use the Services.

This website (the “Website”) is operated and owned by 2020 Smart Ventures Limited [Level 19, Two International Finance Centre, 8 Finance Street, Central, Hong Kong.] (“SmartTransfer”). Please read the following terms and conditions before using this Website. By accessing and using this Website you acknowledge that you have read, understood and agree to be bound by the terms and conditions. By continued use of the Website you will be bound by revised or further terms and conditions as published on the Website. You should therefore check these terms and conditions every time you use the Website. If registering on behalf of a business you hereby declare that you have the authority to bind that business to these T&Cs.

1. Use of the Website

1.1 You should not use the Website from any country where accessing or using the Website or any of the information, products or services on it is prohibited by law. This Website does not constitute any invitation or solicitation by SmartTransfer to any person to use any such information, products or services in countries where to do so is prohibited by law.

1.2 This Website may only be used by individuals, companies or other legal persons who have the legal capacity to enter into legally binding contracts under the law applicable in their country of residence. Without limiting the foregoing and by way of example this service is not available to persons under the age of 18 or otherwise under legal age of majority or to persons of unsound mind. If you lack the legal capacity to enter into a contract you may not use this service and SmartTransfer shall not be responsible for any unauthorized use of this service by such persons.

1.3 The content of the Website and the products and services made available by SmartTransfer on the Website are intended for use by holiday or business travellers or by individuals or corporations seeking to purchase currencies for legitimate use, and should not be used for speculation or investment.

1.4 By using this Website, you agree to be a member of SmartTransfer private foreign currency swapping group and compliant with the terms and conditions set out here.

2. Other applicable terms

2.1 These Terms of Service refer to the additional terms in our Privacy Policy Statement, which also apply to your use of our Services:

2.2 Our Privacy Policy Statement sets out the terms on which we process any personal data we collect from you, or that you provide to us. By using our Services, you consent to such processing and you warrant that all data provided by you is accurate. You understand that through your use of the Services you consent to the collection and use (as set forth in the Privacy Policy) of this information, including the transfer of this information both within and outside of Hong Kong for storage, processing and use by us. As part of providing you the Services, we may need to provide you with certain communications, such as service announcements and administrative messages. These communications are considered part of the Services and your www.SmartTransfer.co account, which you may not be able to opt-out from receiving.

3. Information about us

The Services are provided and operated by 2020 SMART VENTURES LIMITED. We are a limited liability company registered in Hong Kong with registered number 64750661 and have our registered office at Level 19, Two International Finance Centre, 8 Finance Street, Central, Hong Kong.

4. Accessing our Services

4.1 Our Services are made available free of charge.

4.2 We do not guarantee that our Services, or any content, will always be available or be uninterrupted. Access to our Services is permitted on a temporary basis. We may suspend, withdraw, discontinue or change all or any part of our Services without notice. We will not be liable to you if for any reason our Services are unavailable at any time or for any period.

4.3 You are responsible for making all arrangements necessary for you to have access to our Services

4.4 You are also responsible for ensuring that all persons who access our Services through your internet connection are aware of these Terms of Service and other applicable terms and conditions, and that they comply with them.

5. Your account and password

5.1 You are responsible for safeguarding the password that you use to access the Services and for any activities or actions under your password. We encourage you to use "strong" passwords (passwords that use a combination of upper and lower case letters, numbers and symbols) with your account. You must treat such information as confidential. You must not disclose it to any third party. 2020 SMART VENTURES LIMITED cannot and will not be liable for any loss or damage arising from your failure to comply with the above.

5.2 We have the right to disable any password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms of Service.

5.3 If you know or suspect that anyone other than you knows your password, you must promptly notify us at contact@smarttransfer.co.

6. Accuracy of content

6.1 All content shown on the Website (and all services and products provided by it) are provided and made available without any warranties, conditions or guarantees given by SmartTransfer. All such warranties, conditions or guarantees which would otherwise be implied by law are excluded to the fullest extent permitted by law. In particular, SmartTransfer does not warrant the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any services or products available through this Website.

6.2 SmartTransfer shall use its reasonable endeavors to ensure that any dated information contained or reproduced on the Website is obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. SmartTransfer does not accept any responsibility to update or amend any information and makes no warranty concerning the completeness and exactness of such information. SmartTransfer will not have any liability for the use or interpretation of such information. None of the information constitutes financial or investment advice. Daily data is not readily available for some exchange rates and therefore may be out of date.

7. Website Links

7.1 SmartTransfer may provide links to other websites that are controlled or operated by third parties. Links to other websites are solely provided for your convenience and are not an endorsement, authorization, sponsorship or affiliation by SmartTransfer with respect to such site, its owners or its providers and you shall not hold SmartTransfer liable for any loss or damage caused by use of or reliance on any content, goods or services available on these linked sites.

7.2 Linking to Us: You may link to our Services provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it. You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists. You must not establish a link to our Services in any website that is not owned by you. We reserve the right to withdraw linking permission without notice.

7.3 Third party links and resources in our site:

7.3.1 The links from the Services may take you to other sites or services and you acknowledge and agree that 2020 SMART VENTURES LIMITED has no responsibility for the accuracy or availability of any Information provided by third parties services and websites.

7.3.2 The Services may include advertisements, which may be targeted to the Content or information on the Services, queries made through the Services, or other information. The types and extent of advertising by 2020 SMART VENTURES LIMITED on the Services are subject to change. In consideration for us granting you access to and use of the Services, you agree that 2020 SMART VENTURES LIMITED and its third party providers and partners may place such advertising on the Services or in connection with the display of Content or information from the Services whether submitted by you or others.

7.3.3 Links to other websites and services do not constitute an endorsement by us of such websites or services, or the Information, products, advertising or other materials available made available by such third parties.

8. Indemnity

You agree to defend, indemnify and hold us harmless from and against all liabilities, damages, claims, actions, costs and expenses (including without limitation legal fees), in connection with or arising from your breach of any of these Terms of Service and/or your use of the website. We may, if necessary, participate in the defense of any claim or action and any negotiations for settlement. No settlement which may adversely affect our rights or obligations shall be made without our prior written approval. We reserve the right, at our own expense and on notice to you, to assume exclusive defense and control of any claim or action.

9. Severance

The illegality, invalidity or unenforceability of any provision of these Terms of Service under the law of any jurisdiction shall not affect its legality, validity or enforceability under the laws of any other jurisdiction nor the legality, validity or enforceability of any other provision.

10. Several users

If there are two or more persons adhering to these Terms of Service as user, their liability under the Terms of Service is joint and several, and their rights are joint.

11. Waiver

No failure or delay by a party to exercise any right or remedy provided under this agreement or by law shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.

12. Termination

12.1 The Terms of Service will continue to apply until terminated by either you or us as follows.

12.2 You may end your agreement with us at any time for any reason by deactivating your accounts and discontinuing your use of the Services. You do not need to specifically inform us when you stop using the Services

12.3 We may suspend or terminate your accounts or cease providing you with all or part of the Services at any time for any reason, including, but not limited to, if we reasonably believe: (i) you have violated these Terms of Service or (ii) you create risk or possible legal exposure for us; or (iii) our provision of the Services to you is no longer commercially viable. We will make reasonable efforts to notify you by the email address associated with your account or the next time you attempt to access your account.

12.4 In all such cases, any provision of these Terms of Service that expressly or by implication is intended to come into or continue in force on or after termination of this agreement shall remain in full force and effect.

12.5 Nothing in this section shall affect our rights to change, limit or stop the provision of the Services without prior notice.

13. Amendments to the website

13.1 SmartTransfer may, in its absolute discretion, make such changes to the Website content or the products and services offered by SmartTransfer through the Website as SmartTransfer considers appropriate from time to time.

14. Changes of terms

We may amend the Terms of Service from time to time at our sole discretion without notice or liability to you. By continuing to use the Services following such amendments to the Terms of Service, you agree to be bound by such amendments.

15. Operating Hours

15.1 The Website will be open during the periods published in the FAQs which may be updated from time to time. SmartTransfer reserves the right to open or close the Website earlier or later than the published times.

15.2 At the point the Website is closed all open orders may be cancelled at discretion of Smart Transfer. Should your order be cancelled SmartTransfer will return the balance of your funds to your SmartTransfer account and send you an email informing you of such cancellation and transfer.

15.3 SmartTransfer reserves the right to suspend the Website at any time and for any length of time. While the marketplace is suspended you will not be able to place orders but you will be able to cancel open orders. During suspension SmartTransfer will not cancel any open orders.

15.4 SmartTransfer is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you from your inability to use the Website or the products or services offered through or by the Website during the periods in which the marketplace is closed or suspended.

16. Liability

16.1 SmartTransfer uses reasonable skill and care in providing its products and services to you. However (to the maximum extent permitted by law) SmartTransfer is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you from your use of, or your inability to use, the Website or the products or services offered through or by the Website however caused notwithstanding any error or omission including negligence.

16.2 SmartTransfer shall not be liable to you or any third party for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you resulting from the failure of SmartTransfer to execute any transfer in accordance with the instructions from you.

16.3 Time shall not be of the essence for the processing of any transfer. In particular, SmartTransfer accepts no responsibility for any delay in onward payment attributable to the late arrival of your instruction for transfer relative to the cut off times of our bank.

16.4 SmartTransfer shall not be liable for any fees or commissions charged by any intermediary bank or other entity when funds are placed in your SmartTransfer account or transferred to your personal or beneficiary account.

16.5 SmartTransfer’s maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to a refund equivalent to any monies you have paid to SmartTransfer to acquire foreign currency.

16.6 You agree that SmartTransfer will not be responsible in any way to you or any other person in the event of force majeure or for the act of any Government or legal authority.

16.7 For your protection and that of other users you should not share your registration information (password, User Name, security questions and PIN) with any other person or entity for any purpose. You alone are responsible for all acts or omissions that occur within the Website through the use of your registration information.

16.8 You hereby indemnify and hold blameless SmartTransfer, its directors, officers, employees and agents form and in respect of any loss, damage, liability, cost or expense that it may suffer or incur by reason of you failing to discharge your obligations under or acting in breach of any of these T&Cs or any breach of any applicable law or regulation.

16.9 You shall be responsible for providing and maintaining the means by which you access the Website which may include but is not limited to a computer and a modem or telephone. You shall be responsible for all access, service and ongoing fees necessary to connect to the Website and you shall assume all risks associated with the use and storage of information on your computer or on any other computer through which you will gain access to Website and our services. You agree that SmartTransfer will not be liable in any way to you in the event of failure of or damage or destruction to your computer system, data or records or any part thereof or for any delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You will not expose the website to any viruses, trojans or other similarly harmful or inappropriate material or device. In the event that any such viruses etc. are deemed to have been transmitted to the website from your account SmartTransfer reserves the right to terminate your account and you shall be liable for the cost to SmartTransfer of removing such viruses etc. and SmartTransfer shall have the right to set-off the cost against any balance held to the credit of your SmartTransfer account.

16.10 SmartTransfer is not liable for any viruses for other technologically harmful material that may affect your computer equipment, computer programs or other material resulting from your use of the Website.

16.11 If you have a mobile device with fingerprint authentication enabled, you will have the ability to access the SmartTransfer mobile app using your fingerprint data. If your device does not have fingerprint authentication enabled or available, you can also access the SmartTransfer mobile apps via your mobile PIN or your email address and password combination. You alone are responsible for all acts or omissions that occur within the SmartTransfer mobile apps through the use of your registration information, PIN or biometric data. Please note that SmartTransfer does not retain or store any biometric data.




17. Placing and Matching of Transactions

17.1 Please follow the steps on the screen in order to place or match an order. SmartTransfer reserves the right to ask for further information before placing or matching the order in the market.

17.2 SmartTransfer will use various procedures to authenticate each order for the purposes of law and regulations including anti-money laundering regulations. SmartTransfer reserves the right to decline to continue to process any part of your proposed order at any time.

17.3 You will be able to correct the details of your order any time up until the order enters matched status. After that point you will no longer be able to correct details of your order.

17.4 SmartTransfer will send you an email acknowledgement of your proposed order once it has received it but please note that this is an acknowledgement only and does not constitute acceptance of your proposed order by SmartTransfer.

17.5 All orders placed are subject to matching by SmartTransfer and SmartTransfer will confirm such matching to you by sending you an email that confirms that the order has been successful. The contract between SmartTransfer and you will only be formed once SmartTransfer sends you the confirmation email that your order has been successful. Until that time there will be no binding arrangement for SmartTransfer to supply you with any foreign currency or other services. You should print and retain a copy of the confirmation email for your records.

17.6 SmartTransfer is entitled to refuse, withdraw or cancel your proposed or matched order at anytime, for any reason.

17.7 Should your proposed or matched order be cancelled before being processed SmartTransfer will seek confirmation from you as to whether you wish the cleared balance of your SmartTransfer accounts transferred as per your specific instructions. In the event a proposed or matched order is cancelled on the instructions of any law enforcement agency or regulatory body SmartTransfer may retain all or any of your money if it is required to do so by law and then deal with it as ordered by a court or other body of competent jurisdiction.

17.8 You are responsible for any additional costs incurred by SmartTransfer in the event you have provided incorrect payment instructions for the purpose of transferring funds from your SmartTransfer account.

18. Balance and Transfers

18.1 You shall not be entitled to any interest on funds held in your SmartTransfer account.

18.2 SmartTransfer may deduct from any top-up or transfers such amounts as may be required by law or as may be charged by SmartTransfer in respect of transfer or other charges owed to SmartTransfer.

18.3 You agree and represent that all funds placed by you in respect of any order will be legally and beneficially owned by you in full and will not be subject to any charge or lien or other encumbrance of any kind.

18.4 All funds placed by you under these Terms may be used by SmartTransfer in the performance of its own obligations to any counterparty of SmartTransfer or otherwise in relation to your order.

19. Anti-money laundering procedures

19.1 SmartTransfer is regulated by the Hong Kong regulatory bodies. The regulatory bodies requires Payment Institutions, amongst other things, to apply anti-money laundering and counter financing terrorism procedures aimed at detecting and preventing financial crime. Our staff are fully conversant with Anti-Money Laundering guidelines and are aware of their responsibilities in the monitoring and reporting of any actions that raise suspicion or give cause for concern.

19.2 SmartTransfer may utilize the services of a third party in order to confirm your identity as part of the registration process.

19.3 SmartTransfer reserves the right to collect identification from you prior to the top-up of funds and placement or matching of an order. In general, SmartTransfer collects identification in the form of a copy of a passport/drivers license and a utility bill showing your current residential address dated within the last three months.

19.4 You should assume all information provided to SmartTransfer is available to regulatory authorities in both the country of origin of the funds, and the destination country of the funds.

19.5 You represent and warrant that the monies transferred to your account with SmartTransfer are not connected in any manner to any unlawful or illegal activity.

19.6 SmartTransfer reserves the right at all times to refuse to process any proposed or matched order which it believes in its sole discretion, is connected in any manner to any unlawful or illegal purpose. We have a legal obligation to report to the Central Bank any such suspicious transactions.

19.7 SmartTransfer is obliged by law to monitor any unusual or suspicious transactions of any size taking place where we have reasons to believe the money is derived from suspicious, unlawful or illegal activity. SmartTransfer reserves the right to review such transactions. In the event that this review causes a delay to the top-up or transfer, SmartTransfer is not liable for any late fees, unpaid invoices or any other costs associated with the transaction.

19.8 There is a statutory obligation on all SmartTransfer employees and their agents to report suspicious transactions to the authorities. Where any such report is made, SmartTransfer accepts no liability for any delay in transmission of or confiscation of the funds.

19.9 SmartTransfer complies with the Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) legislation. These legal requirements mean SmartTransfer will report any suspicious transactions or fraudulent use of identification documents. To do this we maintain very high standards that require us to:
• Verify all client identification and address details, either by electronic means or the provision of required documentation.
• Monitor and review all account and transaction records.
• Report suspicious transactions to the appropriate authority
• Train all staff in the AML/CFT requirements.
• Retain client data for a minimum 7 years after the relationship ends.
• Comply with the Data Protection Act.

19.10 SmartTransfer may require its clients to provide additional information or documentation to fulfil our legal obligations and where it deems appropriate refuse any client or transaction that is suspected of being related to financial crime.

20. Intellectual Property

20.1 All intellectual property and all materials comprising or contained in the Website including but not limited to all text/articles, logos, software and images, are owned, or as the case may be licensed, except as otherwise expressly stated, by SmartTransfer. The materials contained on or comprising the Website may not be copied or redistributed for commercial or private purposes of any kind without prior written permission from SmartTransfer. SmartTransfer grants you a non-transferable and limited personal license to access and use the Website. This license is conditional on your continued compliance with these Terms & Conditions. You agree not to “deep-link” to the Website, resell or permit access to the Website to others and you agree not to copy any materials appearing on the Website for resale of for any other purpose to others without the prior written consent of SmartTransfer. For the avoidance of doubt, you will be responsible and bound by any unauthorized use of the Website made in breach of this section.

21. Communications with SmartTransfer

21.1 Any communications or materials of any kind that you e-mail, physically mail, telephone or otherwise transmit through the Website, including information, data, questions, comments or suggestions (“your communication”) will be treated as non-proprietary and non-confidential and SmartTransfer may use your communication in any way it thinks fit, either on the website or elsewhere with no liability or obligation to you. SmartTransfer is free to use any idea, concept, know-how or technique contained in your communication for any purposes including but not limited to developing and marketing products. SmartTransfer may monitor your communications for the security of the website and such monitoring will not entitle you to any cause of action or give you any right to the manner in which communications are monitored. SmartTransfer will not be liable for any costs, damages, expenses or any other liabilities incurred as a result of SmartTransfer’s monitoring activities.

22. General

22.1 If any provisions of these terms and conditions including these disclaimers and limitations shall be unlawful or unenforceable then such provisions shall fall away and shall not affect the validity and enforceability of the remaining terms. Your statutory rights remain unaffected.

23. Privacy and data protection

23.1 SmartTransfer processes information about you in accordance with its privacy policy. By using the Website you consent to such processing and you confirm that all data you provide is accurate.

23.2 Third Party Analytics. “By using SmartTransfer, you agree to the use of third party analytics, to occasionally analyze some of the activities of some visitors to this website, and authorized use of cookies and other tracking technologies enable it to have access to some Personal Information of visitors to this website.

24. Governance and Dispute resolution

24.1 All use of the Website and these terms and conditions is governed by the laws of Hong Kong.

24.2 All disputes arising out of the use of the Website and/or any services or products provided by SmartTransfer or any dispute relating to these terms and conditions shall be resolved by the Courts of the Hong Kong government.

Last updated: November 2016