TERMS AND CONDITIONS
Policy Effective as of September 1, 2017.
This website TRANSFAST.com (“Site”) is powered by Trans-Fast Remittance LLC, and in California by Trans-Fast Remittance Inc., and in Nevada by Trans-Fast Remittance Inc-Nevada (“TRANSFAST”), a leader in global money transfer services. The following agreement ("Agreement") details how you may use this Site and the services ("Services") made available through it. ‘Site’, by definition for this agreement includes our Service application(s) available via internet/web access, mobile and smart phones, tablets, or any other technology that allows you to access the Service, which exists now or in the future.
As used throughout this User Agreement, the terms "TRANSFAST", "we", "us", and "our" refer to TRANSFAST Remittance LLC, a Delaware corporation, together with its employees, consultants, directors, successors, affiliates, service providers, and assignees. The terms "you" and "your" refer to users of the Service, whether in their capacity as Senders, Recipients, or visitors to our websites.
By your use of this Site and our Services you agree with and accept the following terms and conditions, otherwise, please don’t use the Site.
This Site, including all text, graphics, logos and image, as well as all other TRANSFAST copyrights, trademarks, service marks, products and service names are the exclusive property of TRANSFAST, and may not be used for any purpose without express written permission from TRANSFAST.
THIS SITE AND THE SERVICES MADE AVAILABLE THROUGH THIS SITE, ARE PROVIDED WITHOUT ANY WARRANTY OF ANY KIND, OR CONDITION, EXPRESSED, IMPLIED OR STATUTORY. TRANSFAST, ITS SUBSIDIARIES, EMPLOYEES AND CORRESPONDENTS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
TRANSFAST RESERVES THE RIGHT TO REVIEW ALL TRANSACTIONS (FOR FRAUD, COMPLIANCE, ANTI-MONEY LAUNDERING, TRANSACTION SECURITY), AND MAY CHOOSE TO HOLD ANY TRANSACTION UNTIL PAYMENT IS RECEIVED FROM THE FUNDING SOURCE.
TRANSFAST will use its best efforts to ensure the timely processing of transactions, refunds or credits, but makes no claims or warranties regarding the time needed to process a transaction, refund or credit to completion. Refunds or credits to the payers funding source may take between 5-7 business days from the time the refund or credit is issued. To a great degree, the timing and delivery of Services depend on factors outside of our control. For security of your account, prior to accepting and releasing funds for a transaction, TRANSFAST reserves the right to validate the identity and account holder; the funding source and funds availability from the funding source of the sender; and to validate the location or receipt type (bank account, credit/debit card, pick-up location, agent location, etc.) of the recipient. In certain jurisdictions disclaimers of implied warranties are not permitted, therefore, the foregoing disclaimer may not apply to you. This warranty gives you specific legal rights and you may also have other rights that vary from state to state, depending on which state you live in.
TRANSFAST assumes no responsibility and shall not be liable for any damages or losses of any kind caused by the use of this Site or Services made available through it. This disclaimer includes damages caused by computer viruses, worms, bots or any other computer software problems that may infect or damage your computer software, hardware, memory or any other property of yours as a result of your accessing this Site or using the Services.
You agree to indemnify, defend and hold TRANSFAST, its affiliates, officers, directors, owners, employees, contracted service providers, representatives, correspondents and agents harmless from any claim or demand made by any third party, including any and all losses, damages, liabilities, including attorneys' fees, costs and expenses of any kind relating thereto, arising from your use of the Services made available through this Site, your violation of these terms and conditions, or your violation of law or intentional wrongdoing. You also agree to indemnify TRANSFAST (et al above) for any delay in the acceptance, processing, and completion of transaction, refund, or credit until TRANSFAST’s proprietary verification and validation processes are complete.
LIMITATION OF LIABILITY
EXCEPT FOR CLAIMS UNDER SECTION 1810.5(C) OF THE CALIFORNIA FINANCIAL CODE ARISING FROM TRANSACTIONS ORIGINATING IN CALIFORNIA, IN NO EVENT SHALL TRANSFAST, ITS AFFILIATES, OFFICERS, DIRECTORS, OWNERS, EMPLOYEES, REPRESENTATIVES, CORRESPONDENTS AND AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES BEYOND THE SUM OF $500.00 (IN ADDITION TO REFUNDING THE TRANSACTION AMOUNT AND SERVICE FEES), INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF TRANSFAST HAS BEEN ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES) RESULTING FROM NEGLIGENCE ON THE PART OF TRANSFAST, ITS AGENTS OR DISBURSEMENT PARTNERS, OR THEIR RESPECTIVE SUBSIDIARIES, OFFICERS, AGENTS, PARTNERS, OR EMPLOYEES.
DISPUTE RESOLUTION AND GOVERNING LAW
Any controversy, dispute, or claim arising out of or in relation to your use of this Site or the Services made available through it shall be governed by and construed in accordance with the laws of New York, New York, USA.
Improperly Filed Litigation
All claims brought against TRANSFAST must be resolved in accordance with these terms and conditions. All claims inconsistent with these terms and conditions shall be considered as improperly filed, and in breach of these terms and conditions. In such event, TRANSFAST shall be entitled to recover its reasonable attorneys' fees and costs (including in-house attorneys and paralegals), provided that TRANSFAST has served you with written notification of said improperly filed claim, and said claim has not been withdrawn.
Waiver of Class Action Rights
By entering into these terms, you hereby irrevocably waive any right you may have to join claims with those of others in the form of a class action. Any claims arising out of, relating to, or connected with these terms and the Services must be asserted in the party's individual capacity only.
You agree that the following categories of information may be provided to you and received by you via this Site: (i) this Agreement and any amendments, modifications or supplements to it; (ii) any initial, periodic or other disclosures or notices provided in connection with the Services made available through this Site, including without limitation those required by federal or state law; (iii) any customer service communications, including without limitation communications with respect to claims of error or unauthorized use of the Services; (iv) any other communication related to the Services made available through this Site or TRANSFAST.
This Agreement, together with all other provisions incorporated herein by reference, represents the entire agreement and understanding between you and TRANSFAST with respect to the use of this Site and the Services made available through it. This Agreement replaces and supersedes any prior agreements between you and TRANSFAST with respect to the use of this Site and the Services made available through it.
Failure by TRANSFAST to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision. If any provision of this Agreement is found to be invalid, the parties agree to endeavor to give appropriately valid effect to the intention of this Agreement as reflected in the provision, and the other provisions of the User Agreement shall remain in full force and effect.
TRANSFAST may modify and change this Agreement without notice, except as may be required by law. The most current version of this Agreement may be viewed at any time by visiting this Site. If you do not agree with any changes or modification, you may terminate your account on the Site and your use of the Services. If you use the Services after the effective date of an amendment or modification, you shall be deemed to have accepted that amendment or modification.
In the event that there may be any inconsistency between the English and or any language text on this Site, including this Agreement, the English text shall always prevail.
FRAUDS AND SCAMS
TRANSFAST considers your security to be of the utmost importance. We dedicate substantial resources and implement state-of-the-art measures to ensure that your information is secure. Nevertheless, we strongly urge you to be wary of sending money to any person whom you do not know well. In particular, you should be cautious of deals or offers that seem too good to be true. To learn more about potential frauds and scams, visit the following website: FakeChecks.org. If you think you have been or might be a victim of fraud, please contact us immediately by telephone at 1-888-973-6383 (outside the United States, call 1-212-344-5574).
If you are aware of anyone using the Services inappropriately, please email us at email@example.com. If you receive any fake (phishing) emails, purporting to be from TRANSFAST, please forward them to us at firstname.lastname@example.org.
CALIFORNIA CUSTOMERS ONLY
Right to Refund
You, the customer, are entitled to a refund of the money to be transmitted as the result of this agreement if Trans-Fast Remittance Inc. does not forward the money received from you within 10 days of the date of its receipt, or does not issue instructions committing an equivalent amount of money to the person designated by you within 10 days of the date of the receipt of the funds from you, unless otherwise instructed by you. If your instructions as to when the moneys shall be forwarded or transmitted are not complied with and the money has not yet been forwarded or transmitted you have a right to a refund of your money. If you want a refund, you must mail or deliver your written request to Trans-Fast Remittance Inc., 44 Wall Street, Suite 400, New York, NY 10005. If you do not receive your refund, you may be entitled to getting your money back plus a penalty of up to $1,000 and attorney's fees pursuant to Section 2102 of the California Financial Code. TRANSFAST (1) may take up to 90 days to resolve inquiries, and 3 days to return the funds upon resolution; (2) additional fees may apply, should it be determined that a delay or failure is attributable to customer error and determined to be the cause of said delay or failure. You can cancel the transaction within 30 minutes of payment with full refund, unless funds have been picked-up or deposited. Unresolved Consumer Complaints may be directed to the regulator where business is conducted, for California call the Consumer Services Division at 1-800-622-0620 www.dbo.ca.gov or Consumer Financial Protection Bureau 855-411-2372 www.consumerfinance.gov. Recipient may receive less due to fees charged by recipient’s bank and foreign taxes.
Derecho a Reembolso
Usted, el cliente, tiene derecho a que se le transfiera el reembolso del dinero como resultado de este acuerdo si Trans-Fast Remittance Inc. no envía el dinero que ha recibido de usted en un plazo de 10 días desde la fecha de su recepción, o si no expide la orden de enviar una cantidad equivalente de este dinero a la persona designada por usted dentro de los 10 días siguientes a la fecha de la recepción de los fondos, a menos que usted indique lo contrario. Si no se cumplen sus instrucciones en cuanto a enviar o transferir los fondos y el dinero todavía no ha sido enviado o transferido, usted tiene derecho a un reembolso de su dinero. Si desea un reembolso, debe enviar por correo o entregar su solicitud por escrito a Trans-Fast Remittance Inc., 44 Wall Street, Suite 400, New York, NY 10005. Si no recibe su reembolso, puede tener derecho a recibir su dinero más una multa de hasta $1,000 y los honorarios del abogado de conformidad con la Sección 2102 del Código Financiero de California. TRANSFAST (1) puede tardar hasta 90 días para resolver las indagaciones, y 3 días para devolver los fondos tras la resolución; (2) se pueden aplicar cargos adicionales, si se determina que la causa del retraso o el incumplimiento es atribuible a un error del cliente. Es posible cancelar la transacción dentro de los 30 minutos de pago con reembolso completo, a menos que los fondos hayan sido recogidos o depositados. Las Quejas de los Consumidores Sin Resolver pueden ser dirigidas al regulador donde se desarrolle la actividad, para California llame a la División de Servicios al Consumidor al 1-800-622-0620 o www.dbo.ca.gov o a la Oficina de Protección Financiera del Consumidor al 855-411-2372 o www.consumerfinance.gov. El beneficiario puede recibir menos debido a las comisiones cobradas por su banco y los impuestos extranjeros.
Errors, Complaints and Cancellation
If you have errors, or wish to file a complaint with respect to any aspect of the money transmission activities conducted by TRANSFAST or its agents you may contact the California Department of Business Oversight at its toll-free telephone number 1-866-275-2677, by email at email@example.com or by mail at the Department of Business Oversight Consumer Services 1515 K Street, Suite 200 Sacramento, CA 95814.
ERROR RESOLUTION, COMPLAINTS and CANCELLATION REQUESTS
Please let us know if you have any problems with the Site or Service. You can contact us using the contact information at the bottom of this User Agreement. If you feel you need further assistance with your complaint resolution, you can contact your state banking authority to file a complaint as follows:
- Alabama, call the Alabama Banking Department at 1-866-465-2279, or http://www.banking.alabama.gov.
- For Alaska Residents Only:
If your issue is unresolved by [licensee name & phone number], please submit formal complaints with the State of Alaska, Division of Banking & Securities. Formal complaints must be in writing, please download the form here: https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf
Formal complaint forms may be submitted via:
1.  Fax: 907-465-1230
2.  Email: firstname.lastname@example.org
3.  Mail: Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807
If you have questions regarding formal complaints, please call 907-465-2521
- California: call the Consumer Services Division at 1-800-622-0620, or www.dbo.ca.gov.
- Connecticut, call the Department of Banking at 1-800-831-7225, or HTTP://www.ct.gov/dob.
- Delaware, call the Office of the State Bank Commissioner at 1-302-739-4235, or http://banking.delaware.gov/.
- District of Columbia, call the Department of Banking and Insurance at 202-727-8000. Or https://disb.dc.gov/
- Florida, call the Florida Division of Financial Institutions at 1-850-487-9687, or http://www.flofr.com/staticpages/divisionoffinancialinstitutions.htm.
- Georgia, call the Department of Banking and Finance at 1-800-436-7442, or http://dbf.georgia.gov
- Hawaii, contact the Hawaii Dept of Commercial and Consumer Affairs Financial Institutions at 1-808.586.2820, or http://cca.hawaii.gov/dfi/ or by email: email@example.com
- Illinois, call the Department of Financial and Professional Regulation at 1-888-473-4858, or http://www.idfpr.com
- Indiana, call the Department of Financial Institutions at 1-800-382-3955, or www.in.gov/dfi
- Kentucky, call the Department of Financial Institutions at 1-800-223-2579, or http://kfi.ky.gov/Pages/default.aspx
- Louisiana, call the Office of Financial Institutions at 1-225-925-4660, or http://www.ofi.state.la.us
- Maryland, call the Department of Labor, Licensing & Regulation at 1-410-230-6100 or http://www.dllr.state.md.us/finance
- Massachusetts, call the Consumer Affairs and Business Regulation at 1-800-495-2265 or www.mass.gov/dob
- Michigan, call the Department of Insurance and Financial Services at 1-877-999-6442 or www.michigan.gov/difs
- Minnesota, call Department of Commerce Banking and Finance 1-651-539-1700 or https://mn.gov/commerce/industries/financial-institutions/
- Mississippi, call the Department of Banking and Consumer Finance at 1-601-359-1031 or http://www.dbcf.state.ms.us
- Missouri, call the Division of Finance at 1-573-751-3242 or http://finance.mo.gov
- Montana, call the Montana Division of Banking and Financial Institutions PO Box 200546, Helena MT 59620. Phone: 1-406-841-2920. Or email: firstname.lastname@example.org, Website: http://banking.mt.gov
- Nevada, call the Department of Business and Industry at 1-702-486-4120, or http://fid.state.nv.us
- New Mexico: call the New Mexico Financial Institutions Division 2550 Cerrillos Road, 3rd Floor Santa Fe, NM 87505 Phone: 1-505-476-4885, Website: http://www.rld.state.nm.us/default.aspx
- New Jersey, call the Department of Banking and Insurance at 1-609-292-7272, or http://www.state.nj.us/dobi/index.html
- New York, call the Department of Financial Services at 1-800-342-3736, or http://www.dfs.ny.gov/about/contactus.htm
- North Carolina, call the Commissioner of Banks at 1-888-384-3811 or www.nccob.org
- Ohio, call the Division of Financial Institutions at 1-866-278-0003 or http://www.com.ohio.gov/fiin
- Oklahoma, call the Oklahoma Banking Department at 1-405-521-2782 or http://www.ok.gov/banking
- Pennsylvania, call the Pennsylvania Department of Banking and Securities at 1-800-600-0007 or http://www.dobs.pa.gov/Pages/default.aspx
- Rhode Island, call the Department of Business Regulation at 1-401-462-9500 or http://www.dbr.state.ri.us/divisions/banking
- South Carolina, call the Commissioner of Banking at 1-803-734-2001 or www.banking.sc.gov
- Tennessee, call the Department of Financial Institutions at 1-615-741-2236 or http://www.tennessee.gov/tdfi
- Texas, call the Texas Department of Banking at 1-877-276-5554 or www.dob.texas.gov
- Utah, call the Department of Financial Institutions at 1-801-538-8830 or www.dfi.utah.gov
- US Virgin Islands, call the Division of Banking and Insurance at 1-340-774-7166 or http://ltg.gov.vi/division-of-banking-and-insurance.html
- Virginia, call the Bureau of Financial institutions 1-800-552-7945 or www.scc.virginia.gov/bfi
- Washington, call the Department of Financial Institutions at 1-877-746-4334 or http://www.dfi.wa.gov
- Wisconsin, call the Department of Financial Institutions at 1-608-261-9555, or www.wdfi.org
Together we can prevent abuse of the elderly. Recognize the signs of Elder Abuse. What is Elder Financial Abuse? Financial abuse is the theft or embezzlement of money or any other property from the elderly. Acts such as stealing (money, social security checks, and possessions) from the elderly or other forms of coercion constitute financial abuse. If you suspect elder abuse, contact info for all states is https://ncea.acl.gov/
TRANSFAST.com ONLINE REMITTANCE SERVICES
OVERVIEW OF THE SERVICES
TRANSFAST has been providing first-quality money transfer services since 1988. TRANSFAST has developed these online remittance and bill payment services ("Services") via our website, mobile applications or other electronic means (“Site”), which allow people to send and receive money to and from certain locations around the world. A "Sender" is someone who uses the Service to send money. A "Recipient”, “Beneficiary", “Biller” or “Payee” is someone who receives money from a Sender through the Service or our Site(s). The "Sender Country" is the country in which the Sender is located and requests to send money through the Service or our Site(s). The "Recipient Country" is the country in which the Recipient receives money through the Service. A "Transaction" is a specific instruction to send money through the Service. The "Transaction Amount" is the dollar amount that the Sender provides to TRANSFAST to send the Transaction. The "Payout Amount" is the amount paid out to the Recipient, excluding any taxes or charges that may be levied under the laws of the Recipient Country (the "Local Taxes"). Payout Amount currency may be designated by Sender based on Recipient Country availability. “Service Fees” are the cost TRANSFAST charges in addition to the currency amount.
Service Not Available to Certain Users
The Service may not be available in whole or in part in certain US states, Canadian provinces and in whole or in part in different countries and jurisdictions as determined by local laws and regulations.
TRANSFAST is a licensed money-transfer business, and therefore maintains zealous vigilance to ensure that the Services not used for any improper or illegal purpose. By using the Services you agree to abide the following additional terms:
- You may not provide false or inaccurate information to TRANSFAST when using the Services.
- You may not utilize the Services to send funds for other people, especially persons whom you do not know.
- You must be at least 18 years of age to utilize the Services as a Sender.
- You must be able to form legally binding contracts under applicable law. Other restrictions may apply.
- You may not use the Services for any improper purpose, such as illegal on-line gambling, illegal purchase of controlled substances or prescription medication, purchase of firearms or explosives, fraud, money laundering, prostitution or child-trafficking, or financial support of terrorists or terror-supporting organizations.
- You may not use the Services to send multiple Transactions under different names or account numbers.
- You may not attempt to avoid the TRANSFAST Identification, record-keeping or reporting requirements.
- You may not use the Services to obtain a cash advance from a credit card.
- You may not access Site by use of an anonymizing proxy.
- You may not use any automatic device, or manual process to monitor or copy our Site.
- You agree that you are the sole owner of the funding source being used to fund the transaction.
- You agree that you are not using a corporate account, or any funding source for which you do not have justification to use for said transactions.
- The Services may not be available to customers from all states, provinces and/or countries; eligible countries are available on the site.
- The Services are not available to customers in all U.S. states or jurisdictions. Residents of the states of West Virginia, Vermont and Wyoming may not use the Services. (See additional limitations in the “Licensing” section below)
- The Services may not be used to send funds to all countries; not all countries are ‘Destination Countries’ currently served by TRANSFAST. (See Site for current county list)
- TRANSFAST reserves the right to decline or reject, at its sole discretion, any Transaction at any point before the delivery of the underlying funds.
- TRANSFAST reserves the right to validate your bank account prior to releasing your transaction. This verification process may include holding a transaction until funds are collected and confirmed from your Funding Source. When this occurs, Recipient receives funds 3-4 business days after account validation. Funds may be released sooner depending on your transaction history with us, and based on the method the money is to be received.
- TRANSFAST reserves the right to review any transaction as part of our security monitoring process. We may review transactions to protect you and your account from fraudulent activity. This security review and validation may delay the release of funds. This is done to protect your funds and to ensure the validity, safety and security of your financial account.
At our sole discretion, we may refuse to process Transactions for certain Senders and Recipients, including without limitation, those entities and individuals included on certain government and commercially available "watch lists" including Specially Designated Nationals, non-cooperative or terror supporting countries and territories, and such other lists as may be issued from time to time by relevant government agencies.
TRANSFAST Remittance, LLC is licensed by state banking departments in the following US states: Alabama, Alaska, California, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Mississippi, Montana, New Mexico, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Virgin Islands, Washington and Wisconsin. If your state is not listed, we are unable to set up an account for you at this time.
TRANSFAST is authorized and operates in 8 Canadian Provinces: Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec and Saskatchewan.
Customer Identification Program
In doing our part in the fight against financial crime and terrorist financing activities, we are compelled by U.S. and International laws to obtain, verify and record personal and private information about our customers. Other personal data pertaining to you may be obtained from other sources with or without your knowledge, including information that we may gather about you when utilizing the Services. Periodic account reviews may result in additional verification and validation of personal or private information, and may delay completion of transaction until validation is complete. We may contact you for further information, documentation and verification before we complete a transaction. This verification process may delay the processing of your transaction.
TRANSFAST will make inquiries it deems necessary to verify information provided by you. You hereby authorize TRANSFAST to make such inquiries as it deems necessary, directly or through public and private third parties, to ascertain the accuracy of such information.
Identity and Location Verification
You authorize TRANSFAST to request your mobile carrier to use your mobile subscriber details for verifying your identity. Those details may include name, billing address, email, and phone number. This information may also include location information, if available.
In the event of any problems or complaints, please contact TRANSFAST at the following 1-888-973-6383. We can also be reached via email at: email@example.com. And by mail at: TRANSFAST, Attn: Customer Service, 44 Wall Street, 4th floor, New York, NY 10005, USA. In the event we are unable to resolve your complaint, you have the right to contact a regulator in the state in which you reside.
We generally do not let you change the details of your Transaction once it's submitted to us for processing. It is your responsibility to make sure your Transaction details are accurate. Any requests for amendment to the transfer may result in cancellation of the transaction.
Money laundering is the attempt to conceal or disguise the nature, location, source, ownership, or control of money. The federal government, using the Bank Secrecy Act and the Money Laundering Control Act, has written strict laws and regulations to help prevent money laundering activities. TRANSFAST has a comprehensive compliance program within its organization to ensure compliance with government rules and regulations. We do not want TRANSFAST services to be used in illegal money laundering activities. It is our policy that we follow both the letter and the spirit of the law and the regulations.
INSTANT BANK VALIDATION (IBV)
Entering your bank username and password is used to log in to your bank account so we can verify that you own this bank. TRANSFAST does not store this information, and all information is sent securely and encrypted over a Secure Socket Layer (SSL), which is certified by NortonSecured™ Terms and Conditions.
INSTANT BANK VALIDATION TERMS
The Instant Bank Validation Service (“Service”, "IBV") is intended to verify that you are the owner of, and/or authorized to use the bank account you select to complete transactions on TRANSFAST. Your use of the Service is subject to the terms of the TRANSFAST User Agreement and these Instant Bank Account Confirmation Terms and Conditions. By proceeding to use the Service, you agree to be bound by Instant Bank Validation Service Terms and Conditions.
Provide Accurate Information
You agree to provide your true, accurate, current and complete online banking login credentials, and you agree to not misrepresent your identity or your authority to use those credentials.
Third Party Access
By using the Service, you authorize TRANSFAST and its suppliers PLAID, Inc. (“ PLAID”) to access third party sites designated by you, on your behalf, to retrieve information requested by you, or as required by TRANSFAST to confirm your bank account. For all purposes hereof, you hereby appoint TRANSFAST and PLAID as your true and lawful agent, with full power of substitution and re-substitution, for you and in your name, place and stead, in any and all capacities, to access third party Internet sites, servers or documents, retrieve information, and use your information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN TRANSFAST OR PLAID ACCESSES AND RETRIEVES INFORMATION FROM THIRD PARTY SITES, TRANSFAST AND PLAID ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY. You agree that third party account providers shall be entitled to rely on the foregoing authorization and agency granted by you. You understand and agree that the Service is not endorsed or sponsored by any third party account providers accessible through the Service.
Use of Results Limited
You agree that the results of the Instant Bank Account Confirmation are for your use only in connection with the TRANSFAST Service, on TRANSFAST’s website.
DISCLAIMER OF WARRANTIES
THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY REPRESENTATION OF WARRANTY. TRANSFAST AND, PLAID EXPRESSLY DISCLAIM ALL WARRANTIES WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
LIMITATION OF LIABILITY
YOU AGREE THAT NEITHER TRANSFAST NOR PLAID, NOR ANY OF THEIR AFFILIATES, ACCOUNT PROVIDERS OR ANY OF THEIR AFFILIATES WILL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES, EVEN IF TRANSFAST, or PLAID HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, RESULTING FROM THE USE OR THE INABILITY TO USE THE SERVICE OR ANY OTHER MATTER RELATING TO THE INSTANT VERIFICATION SERVICE.
You agree to indemnify TRANSFAST and PLAID and their affiliates from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorney’s fees) caused by or arising from your use of the Service, your violation of these terms, and/or your infringement of any intellectual property or other right of anyone.
ACH AGREEMENT AND DISCLOSURE
This agreement covers the movement of funds by means of wire transfers and automated clearinghouse (ACH) transactions. Wire transfers are electronic funds transfers that are performed through the Fedwire system of the Federal Reserve banks, which is regulated and monitored by the Board of Governors of the Federal Reserve. ACH transactions are processed through the Automatic Clearing House Network which is an established electronic payment system governed by the National Automated Clearing House Association (NACHA). This agreement establishes the terms and conditions of all such funds transfers involving you and us. Using us to send or receive funds transfers shall constitute your acceptance of these terms and conditions. To the extent that the terms contained in this agreement are different than those in any other agreement or terms of account, this agreement shall control and be deemed to modify such other agreements or terms of account.
This Agreement and Disclosure applies to funds transfers as defined in Article 4A of the Uniform Commercial Code and Subpart B of Regulation J of the Board of Governors of the Federal Reserve System (herein collectively referred to as "wire transfers"). It does not apply to any electronic funds transfer governed by the Electronic Funds Transfer Act and it’s implementing Regulation E. (e.g., debit card purchases and transactions).
Transfer Services; Fees
You authorize us to transfer funds according to your instructions ("transfer request") to and from your designated account(s), or to and from another financial institution. If you do not designate an account, we may transfer funds from any of your accounts and such account shall be deemed to be your designated account. Transfers shall be made in accordance with the security procedures set forth in this Agreement. We may debit your designated account(s) for the amount of the funds transfer, as well as any related fees or services charges. Any fees and service charges are disclosed on the Rates & Fees Schedule provided to you when you utilize the Service(s).
Processing of Transfer Requests; Cut-off Times
We may establish or change cut-off times for the receipt and processing of transfer requests, amendments, or cancellations. The cut-off times are disclosed on the Wire Transfer Request form that you use to initiate a transfer request. We will use ordinary care to process the transfer request on the same funds-transfer business day that it is received, if it is received prior to the cut-off time. Transfer requests, cancellations or amendments received after the applicable cut-off time will be treated as having been received on the next following funds transfer business day and processed accordingly.
You agree that any one of the authorized signatories on the designated account may initiate any transfer request. We are not required to obtain authorization from all signatories and we shall not be liable for following the instructions of only one signatory. If we receive conflicting verbal and written instructions, we will follow the written instructions. You or any of your joint account holders may also authorize by written instrument any other person who is acceptable to us to initiate transfers to and from the account. We may rely on any such written authorization until we receive written notification revoking or modifying that authorization.
TRANSFAST may establish, from time to time, security procedures to verify the authenticity of a transfer request. You will be notified of the security procedures, if any, to be used to verify transfer requests issued by you or for which your account will be liable. You agree that the authenticity of transfer requests may be verified using that security procedure unless you notify us in writing that you do not agree to that security procedure. In that event, we shall have no obligation to accept any transfer request from you or other authorized parties on the account until you and we agree, in writing, on an alternate security procedure.
Identifying Account and Routing Numbers
When processing a transfer request, payment may be made based solely on the account number provided in the transfer request, even if that account number identifies a beneficiary other than the one that you name in the transfer request. Similarly, if the transfer request identifies the name, routing number and transit number of the beneficiary's financial institution, payment may be made solely on the basis of the routing and transit number, even if those numbers do not correspond to the name of the financial institution that you supplied. You agree that your obligation to pay the wire transfer is not affected if the identifying numbers do not match the named beneficiary or financial institution. You are also responsible for any loss or expenses incurred by a receiving bank which executes or attempts to execute the transfer. Transfast may request in reliance on the identifying number you provided. We may also pay wire transfers received by us for your benefit based solely on the account number.
Acceptance and Execution of Transfer Requests; Rejection
Nothing in this Agreement shall obligate us to accept or execute any transfer request, or an amendment or cancellation thereof, and we shall be deemed to have accepted a transfer request or its amendment or cancellation only upon execution thereof. We may reject or refuse to accept or execute a transfer request if (1) the designated account(s) does not contain sufficient available or collected funds; (2) the account number that you provide on the transfer request does not correspond to any known account with us; (3) the transfer request is not authorized or does not comply with applicable security procedures; (4) we are prohibited from doing so due to applicable law; or (5) we have a good-faith, reasonable cause for rejecting the transfer request.
Method of Making Transfers
TRANSFAST may select any means that we deem suitable to transmit funds under this Agreement, including, but not limited to, our internal systems or Fedwire. Any subsequent financial institution may use Fedwire as well. Your rights and liabilities in a wire transfer involving Fedwire will be governed by Regulation J and other applicable Fedwire rules.
Account Statements; Notices
ACH transactions are governed by the operating rules of the National Automated Clearing House Association. We will not provide you with next day notice of receipt of any transfers under this Agreement, even if that transfer was initiated by an authorized person other than you. All transfers under this Agreement shall be shown on your periodic account statement and reflection on the statement shall constitute notice of receipt of the transfer. You may inquire whether a specific transfer has been received at any time during our normal business hours and/or by any means that we provide you for making inquiries on your accounts.
You may be credited for ACH payments or wire transfers before we receive final settlement of the funds transfer. This means that we may provide you with access to the funds before we actually receive the money. Any such credit is provisional until we receive final settlement of the payment. You are hereby notified and agree that, if we do not receive such final settlement, we are entitled to a refund from you for the amount credited to you in connection with the entry, and the party making payment shall not be deemed to have paid you for that amount.
Limitation of Liability
We are not responsible for any transmission performance failure as a result of interruption in transfer facilities; power failures; equipment malfunctions; labor disputes; emergency conditions; fire, flood, or other natural disasters; war or terrorist attack; or other circumstances beyond our control. We are also not responsible for transfer failures due to suspension of payment by another party, or refusal or delay by another financial institution to accept the transfer, or if we are prohibited from performing under any applicable law. We shall not be liable for any special, indirect, consequential or punitive damages arising from any failure or delay in processing a transfer request or any other obligation under this Agreement. In no case shall we pay attorney's fees or other legal expenses incurred in connection with this Agreement.
If we become obligated under Article 4A to pay interest to you, you agree that the rate of interest to be paid shall be equal to the interest rate, on a daily basis, applicable to the account to which the funds transfer was made.
International Wire Transfers
If you send an international wire transfer that identifies a beneficiary bank located outside of the United States, you agree that we do not guarantee the receipt or timely processing of the funds on the part of the foreign beneficiary bank. By sending an international wire transfer, you understand that we have no control over how or when the funds are received or processed by the foreign beneficiary bank and that it could take up to one month or longer for the wired funds to be processed by the foreign beneficiary bank. Therefore, you understand and acknowledge that by sending an international wire transfer according to the financial institution and account information you provide us, you accept all risk associated with your wire transfer request. We will not be held liable or responsible to refund you any of the funds or costs associated with executing your request where the funds you sent were lost, destroyed, delayed, misdirected, improperly credited, not processed, or not received by the foreign beneficiary bank. You further acknowledge that we are prohibited from processing and executing requests where the federal government has enforced economic and trade sanctions against named foreign countries, or where the federal government has prohibited us from doing business with named financial institutions.
Choice of Law
We may accept, on your behalf, payments to your account which have been transmitted through one or more Automated Clearing Houses and which are not subject to the Electronic Fund Transfer Act. Your rights and obligations with respect to such payments shall be construed in accordance with and governed by Regulation J, Article 4A, and the laws of the state in which our headquarters are located, and as provided by the operating rules of the National Automated Clearing House Association.
FEES and CHARGES
You agree to pay TRANSFAST a service fee (the "Service Fee") for each transaction submitted for processing by you, plus any additional charges that may apply to the Transaction, plus the amount of money to be sent to the person receiving the funds ("Beneficiary"). Please be advised that if using a credit card, the issuing bank may charge you additional cash advance fees, TRANSFAST shall not liable to reimburse you for.
Payment of Transfer
Payment is due at the time you submit a transaction to TRANSFAST. We only accept payment in U.S. Dollars and Canadian Dollars.
In the event that you submit a transaction for which TRANSFAST incurs “NSF” (Non-Sufficient Funds) charges, chargeback fees, or other similar expenses, you agree to reimburse TRANSFAST for all and any such fees, charges and expenses. Each occurrence of an NSF will result in a $35.00 (USD) “NSF Fee”. Fees due to us can be collected when incurred, or may be deducted from the principle amount of your next or future transaction. TRANSFAST reserves the right to collect NSF Fees from any of the Payment Instruments (which may include one or more bank account, credit card and/or debit card) that you have linked to your TRANSFAST.com account, in accordance with this Agreement.
Transfer Amount Adjustment
In cases where transactions are funded from the sender's ("Remitter's") bank account, you hereby authorize TRANSFAST to charge your bank account for a lesser amount, than the amount of the transfer (i.e., for a transfer of $500, TRANSFAST may debit the bank account for $499.98), as part of our effort to confirm ownership of the account. Be advised that certain recipient payers (banks, agents, etc., will calculate the payout amount by a different manner than TRANSFAST, and therefore you may not get the exact payout amount (results of currency exchange rate fluctuations, system limitations, etc.).
Unless otherwise specified, all dollar amounts shown in this Agreement are in U.S. Dollars.
Collection of Payment for Transactions
In order for us to collect payment from you, you hereby authorize TRANSFAST to access, charge, or debit funds from any of the payment instruments you provide as a user of the Service, so that TRANSFAST may collect all payments, fees, reimbursements and charges due to TRANSFAST in connection with your use of the Service (a "Payment Instrument" includes but is not limited to credit cards, debit cards or bank accounts). You are responsible for ensuring that there are sufficient funds available in the designated account in order to complete all transactions you authorize.
If for any reason the funding bank provides TRANSFAST with an NSF notice, or refuses to pay for any reason, we reserve the right to cancel transaction, and/or your account, and collect an NSF Fee as noted above (see Fees and Charges).
If for any reason, the Recipient bank account being used for deposit of funds refuses the receipt of a transaction for any reason, we reserve the right to cancel transaction. Please note that due to timing issues, we may not be made aware of such decline notices for a period of 5-7 days after transaction is made to TRANSFAST from the Recipient’s bank. The result of this may cause a delay in the cancellation, and the refund to your funding account. TRANSFAST will not be held liable for any delayed deposits, rejections, or returns from the receiving bank.
Other Charges May Apply
TRANSFAST is not responsible for any fees or charges that may be imposed by financial institutions associated with the Payment Instrument(s) you choose to use. Some credit card issuers may treat the use of your credit card to use the Service as a "cash-advance" and, as such, may impose additional fees, service charges and interest on the transaction. TRANSFAST is not responsible for any such practices and those of any other institutions and any such events outside of TRANSFAST control. TRANSFAST is not responsible for reimbursement of charges imposed to you by any financial institution or company or person you pay using Service. You agree to be responsible for insufficient funds charges, Non-Sufficient Funds (NSF) fees, late fees, chargeback fees, overdraft, cancellation, or other similar charges that might be imposed on you by your bank, credit card or debit card issuer, or any other funds provider.
Choice of Law
This Agreement is governed by the laws of the State of New York. If suit is brought by TRANSFAST, each party to this Agreement irrevocably consents to the exclusive jurisdiction and venue of the federal and state courts located in New York County, New York or the state in which You reside with respect to any claim, action or proceeding arising out of or in connection with this Agreement or the matters contemplated thereby. If suit is brought by You, each party to this Agreement irrevocably consents to the exclusive jurisdiction and venue of the federal and state courts located in New York County, New York.
You shall pay all costs and expenses, including attorney's fees, court costs and miscellaneous fees and expenses, incurred by TRANSFAST in the collection of indebtedness and/or enforcement of claims arising under this Agreement, whether or not suit is filed.
The Service and Site may also be accessible via a mobile device. To the extent you access the Service or Site through a mobile device, your wireless service carrier's standard charges, data rates and other fees may apply. Use of Service and Site via a Mobile device is deemed as acceptance of this Agreement without Amendment.
TRANSFAST and its "Payer Correspondents" (defined below) will usually make a profit when a transaction is contracted in one currency, and the underlying funds are paid out to the beneficiary in another. Such profit is realized based on the difference between the exchange rate at which TRANSFAST buys foreign currency and the exchange rate provided to you. By using the Services, you hereby agree to and acknowledge such practice.
Note: In addition to potential profit TRANSFAST realizes on a foreign currency exchange transaction, TRANSFAST may or may not charge you and additional fee for Services.
TRANSFAST maintains relations with local and international banks, money exchange houses, bill payment services, and other third party service providers (each, a "Payer Correspondent") to deliver funds to recipients (“Beneficiaries”). As a Remitter, you hereby appoint your Beneficiary as your agent for the purpose of receiving funds remitted by you through the Service.
TRANSFAST will strive to provide current information through our Site with regard to locations, availability, and hours maintained by our Payer Correspondents. However, as a User, you agree that TRANSFAST will bear no responsibility for any inaccuracies that may be posted on this Site. You also agree that we are not to be held liable for any delay in transmission of any transaction, refund or credit being issued to or from your Account. TRANSFAST will not be held liable for inability to collect funds based on Payer Correspondents office or banking hours, rules or policies they have established for funds collection and/or funds disbursement.
Beneficiaries may be required to present valid and acceptable identification documents prior to receiving funds. In addition, there may be cases where Beneficiaries may be required to provide certain transaction-related identifier such as a Transaction Number, which may also require a corresponding personal identification number (or PIN), a "password", and/or a similar verifier associated with their Transaction, before funds are released. User hereby grants TRANSFAST permission to store the data TRANSFAST may consider necessary in order to provide complete and efficient Service, as per this Agreement. Beneficiary may be required to provide valid, current, government issued photo identification to collect funds.
TRANSFAST Right to Refuse or Limit Transactions
At its sole discretion, TRANSFAST may refuse any transaction or limit the amount to be transferred, whether on a transactional or aggregate basis. At the sole discretion of TRANSFAST, such limits may be imposed on individual accounts, linked accounts, related accounts or households. TRANSFAST reserves the right to change or discontinue the Services (or any part thereof) to any person with or without prior notice.
Due Diligence and Verification
TRANSFAST has a regulatory obligation to verify customer information, and to monitor and track certain types of transaction activity. Customer information that TRANSFAST may have to verify may include customer identity, instructions and means of payment for a Transaction. These processes may cause certain Transactions, Refunds or Credits to be delayed or rejected.
The Services should not be used for commercial purposes and we extend no guaranty or assume any responsibility for quality, safety, legality, or delivery of goods or services that you pay for to third parties through the Services. You agree that any commercial use of the Services is at your own risk. If TRANSFAST discovers you are using the Services for such purposes, TRANSFAST reserves the right to reject your transaction(s), and may at its own discretion limit the use of, or block use of, the Site.
Limitations on Funding Instruments
Not all Payment Instruments are eligible for use with all services at all times. TRANSFAST reserves the right, at its sole discretion, to refuse or reject payment by certain types of Payment Instruments. Transactions to the Philippines must be settled with a Payment Instrument issued by U.S. or Canadian Financial Institutions.
Transactions on Behalf of Third Parties
In order to submit or receive a transaction on behalf of a business or legal entity, previous arrangements must be made with TRANSFAST in order for such transaction to be accepted for processing. You must provide all necessary documentation and information about the transacting entity requested by TRANSFAST.
No Post-Submission Changes
No changes will be permitted to your transaction after its submission for processing. It is the Remitter's responsibility to ensure overall accuracy in the transaction details.
For the security of the Account, and to protect against fraud and misuse, we only provide transaction information to the sender ("Remitter"). We may choose not provide information to any other party, including the Recipient, Beneficiary, Biller or Payee except as expressly required by law.
When adding a new, or updating a bank account, we may require it be validated prior to use, and to confirm the Sender as owner of funding account. To validate, we may transmit two small debit amounts to the bank account, which need to be validated/ confirmed by you on the site prior to use of Services. Additionally, we may choose to use commercially available software to electronically validate bank account ownership and funds availability prior to releasing a transaction, credit or refund to your Account. Failure to comply with validation process may delay or result in the cancellation of a transfer.
TRANSFAST may require that funds be verified as available by the issuer of the funding payment instrument prior to release of a transaction to a Recipient. Please note that this authorization, approval and transfer of funds (“Clearing Process”) may take three to five (3-5) business days.
A Transaction can be cancelled as long as the funds have NOT been PAID out to the Recipient, Beneficiary, Biller or Payee. To request the cancellation of a Transfer, the Sender contacts TRANSFAST customer service (via phone, email, or chat). Due to standard bank and funds clearing processes, this refund or credit may take 5-7 business days to clear and be refunded to the Sender’s Account.
A Sender is eligible for a refund if the transaction was cancelled, and we had previously debited the funds from the Sender’s payment source. Due to standard bank and funds clearing processes, this Refund or Credit may take 5-7 business days to clear and be refunded to the Sender’s Account.
Call and Communications Monitoring
In order to ensure the quality and security of our service, we may monitor or record any telephone conversation you have with us. Additionally, we may monitor and keep communications, written, verbal and electronic, you’ve had with us on file for training and security purposes. Communication includes email, chat, voice, social media, etc.
Questions, notifications, requests for refunds or further information can be sent to TRANSFAST, as follows:
Attn: Customer Service
44 Wall Street
New York, NY 10005