luni, 27 iunie 2016


Dated: 22 June 2016
This Agreement is a contract between you and TransferWise Romania and applies to your use of the TransferWise Romania  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.
    1. Your Privacy.
      Protecting your privacy is very important to TransferWise. Your passwords are stored on TransferWise servers in encrypted form. We do not disclose your account details, postal or email addresses to anyone except when legally required to do so and as specified in our Privacy Policy.
      Sensitive information between your browser and the website is transferred in encrypted form using Secure Socket Layer (SSL). When transmitting sensitive information, you should always make sure that your browser can validate the certificate.
      For further details on our Privacy Policy,
    2. Transaction History.
      You can access your details of executed payment transactions and other information relating to your Account by logging into TransferWise and clicking on the "Account" tab.
    3. Duplicate accounts.
      TransferWise may refuse creating duplicate accounts for the same user due to security and client identification requirements. TransferWise reserves the right to refuse the creation of duplicate accounts for the same user due to security and client identification requirements. In a case where duplicate accounts are detected, TransferWise reserves the right to close or merge these duplicate accounts without notification.
  1. Eligibility
    1. Eligibility.
      To be eligible for our Services, you must be at least 18 years old. You further represent and warrant to us that if you are an individual and you open an Account with us that you are not acting on behalf of an undisclosed principal or a third party beneficiary.
      Before being able to use the Service we have to perform mandatory customer verification. For that we may ask for photographic evidence of your identity such as a copy of your passport. It is possible to provide this evidence through a number of methods including fax and email.
      TransferWise reserves the right to access various government and private databases so as to verify your information (so called “electronic ID”) If certain databases provide a match to the information you provide then we may not have to ask for photographic evidence of your identity.
      TransferWise reserves the right to refuse to accept any new user or any transaction at its discretion.
  2. Using the Service
    1. Types of Payment Orders
      1. Fixed Target. Payment orders, where you require TransferWise to transfer a fixed amount of foreign currency to the payment recipient.
      2. Fixed Source. Payment orders, where you order to convert a fixed amount of source currency and transfer the resulting amount to the recipient in foreign currency.
    2. Submitting a Payment Order
      You must submit payment orders online via your user account. You will be asked to provide us with:
      • details of the recipient and their bank account;
      • amount to be transferred, based on your choice of fixed target or fixed source payment type;
      • details of your funding method for funding the transaction, unless you are using your default funding method associated with your user account
      Once you completed your payment order online, we will send you a confirmation by email that we have received your payment order.
      You should be aware that a payment order is only complete and will only be processed by us once we are in possession of your funds for making the payment to the recipient. It is your responsibility to send us funds in a timely manner via your chosen funding method. We cannot influence the time it takes for funds to be sent to us by your bank or payment service provider. However, we are monitoring our receiving bank accounts in close intervals and we will notify you and will process your payment order as soon as funds arrive in our accounts, provided they arrive before 5pm on a Business Day. If funds arrive after 5pm or on a day that is not a Business Day, your payment order will be processed during the course of the next Business Day. The same applies if you submit your payment order after 5pm or on a day that is not a Business Day.
    3. Execution times for payment orders
      1. If your transaction is entirely in Euro or Sterling, or involves only one conversion from Euro to Sterling or the other way around, then we will ensure that the payment recipient’s bank or payment service provider receives the funds on the next Business Day after we have started to process your payment order as described in section 3.2 above.
      2. If your transaction involves a currency other than Euro or Sterling (either as funding currency or pay-out currency) but is executed entirely within the European Economic Area, we will ensure that the payment recipient’s bank or payment service provider receives the funds on the fourth Business day after we have started to process your payment order as described in section 3.2 above.
      3. Transactions that do not fall under sections (a) or (b) above may take longer to execute and you agree that the execution times under the Payment Services Regulations 2009 do not apply to these transactions.
      You should note that it is our obligation to ensure that funds arrive at the recipient’s bank account or payment account within the above timelines, however, we do not control the time it takes for the recipient’s bank or payment provider to credit and make available funds to the recipient.
      You should further note that the above timelines are subject to all necessary security and customer identification checks being conducted in line with our security and identification guidelines. If further investigation or the collection of additional information from you is necessary, we will let you know, but this may delay execution of the payment order.
    4. Exchange Rates
      We will let you know the exchange rate:
      1. when you place your payment order, if it is a guaranteed rate payment order; or
      2. when we have converted your source currency into the target currency, if it is a non-guaranteed rate payment order.
      Guaranteed Rates
      We offer automatic guarantee rates on certain payment orders based on the following table and conditions.
      Table 1:
      Guaranteed RateFromToGuaranteed Period
      GBP Guaranteed RateGreat British Pound ("GBP")all currencies we support other than Columbian Peso, Japanese Yen, Turkish Lira24 hours from the time you send us your payment order or such other period as we may notify you from time to time
      EUR Guaranteed RateEuroGBP or US Dollars48 hours from the time you send us your payment order or such other period as we may notify you from time to time
      USD Guaranteed RateUS DollarsAll currencies we support
      • From the time you send us your payment order until 19:00 EST (Eastern Standard Time) on the next US Business Day – if you send your money to us using ACH bank debit.
      • From the time you send us your payment order until 16:00 EST on the next US Business Day – if you send your money to us using wire transfer.
      Or in each case, such other periods as we may notify you from time to time
      Other Guaranteed RateAll currencies we support (other than Australian Dollars)GBP, Euro or USD24 hours from the time you send us your payment order or such other period as we may notify you from time to time
      "US Business Day" means a day other than a Saturday, Sunday or other day on which commercial banks in the City of New York are authorised or required to close.
      We will let you know the guaranteed rate at the time when you send your payment order to us. As long as we receive your money during the relevant Guaranteed Period (set out in Table 1), we will convert your money using that guaranteed rate.
      If we do not receive your money during the Guaranteed Period, we will not be able to convert your money using the guaranteed rate. The rate used for your payment order will be the rate at the time of conversion.
      If the relevant mid-market rate (as provided by an independent third party source, for example Reuters) changes by 5% or more during the Guaranteed Period, we can, at our option, suspend your payment for a reasonable period of time or cancel the payment order and refund the money you have sent to us.
      Please note that we are not a currency trading platform, accordingly, you should not use our Services for this purpose (including sending us multiple guaranteed rate payment orders without the intention of completing all the payment orders). If we detect that you are using our Services for this purpose, we may, at our option, set a limit on the number of guaranteed payment orders you may send to us or suspend or terminate your Account.
      Non-Guaranteed Rates
      If we do not offer a guaranteed rate for your payment order, we will let you know of the rate used once we have converted your money.
      Rate Limit on Non-Guaranteed Rates
      For non-guaranteed rate payment orders, we will automatically apply a 3% rate limit. A rate limit is the maximum percentage of negative change to the exchange rate which you authorise us to convert your money.
      If the rate reaches or exceeds the rate limit, we will not convert your money until the rate has move back within the rate limit. Of course, this will delay the completion of your payment order. If your payment order is delayed by 5 Business Days or more, your payment order will be cancelled and your money will be refunded to you.
      You may change the rate limit on your payment order, for more information on how to do this, please refer to our Frequently Asked Question.
    5. Deposits
      Every new payment submitted on the TransferWise website will be inactive, until we have received a valid deposit. You need to pre-pay the deposit to TransferWise in the following way:
      Transfer the full invoiced amount in source currency on the TransferWise clearing bank account by bank transfer (see "Bank Transfers" section). If it is aFixed Target payment order, then the invoiced value equals the required source currency if exchanged at your specified Limit Rate. The excess deposit, which is the difference between the invoiced value (your paid deposit) and the effective source currency requirement, is refunded to your specified source currency account after your order is matched.
      If for any reason your transaction is cancelled or refused, then TransferWise will promptly return the deposit to the sender’s original source of funds. In the event that we are unable to return the deposit (eg. if the bank account details provided are incorrect), then TransferWise will promptly contact you using the most up-to-date contact information provided to us by you on your TransferWise account.
    6. Payment Limits
      The upper transaction limit for payments is 1 000 000 GBP or equivalent. The maximum amount of currency accepted for exchange varies dynamically based on market conditions. There is no lower limit.
    7. Bank Transfers
      All EUR payments to TransferWise below £25,000 have to be made as Single European Payment Area (SEPA) payments with the "shared" fees option. TransferWise makes all outgoing EUR payments through SEPA with the "shared" option. Your specified recipient account must support receiving SEPA payments.
      All GBP payments must originate from a UK bank or building society. TransferWise makes GBP payments through the "UK Faster Payments" scheme where possible or alternatively through BACS.
      You may be liable for an additional administration charge if the account numbers or the recipient name you have provided are incorrect.
      In case your bank charges you for receiving of payments you shall be liable for paying these.
    8. Refused Transactions
      TransferWise may refuse the payment order, if we cannot match the user's name and address as provided to TransferWise to your bank account or credit card details. In this case you may be liable for an administration charge, which will be deducted from your deposit.
    9. Cancellation of Transactions
      You may cancel your transaction for a full refund at any time before the transaction amount is converted in accordance with your instructions. For the avoidance of doubt, any transaction in USD or transaction initiated in the United States may be cancelled at the very least, within 30 minutes of authorising your transaction.
    10. Your Obligations
      You are responsible for ensuring the payment details you provide are accurate. Once payment instructions have been executed by TransferWise, transactions cannot be reversed and TransferWise will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions.
      In the unlikely event that you notice an error in either the payment sent or received as a result of using the Services, then you should immediately notify us at If you become aware that you have received a payment over and above what you were expecting, you must immediately notify us of this so that arrangements can be made for you to immediately return any overpayment.
      You agree not to use the Services for any unlawful activity and TransferWise reserves the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, TransferWise reserves the right to report suspected unlawful activity to any appropriate person or body and to provide them with any relevant information, including personal data.
  3. Fees
    1. Transaction Fee
      TransferWise charges a fee on every payment. Fees relating to each payment are visible to the user before submitting the payment.
    2. Administration Charges
      Administration charges may only incur when our settlement banks or the receiving bank refuse your transaction due to incorrect payment details, their regulatory requirements or any other valid reason. Any administrative charges from the settlement banks or the receiving banks will be deducted from your payment amount. In addition, TransferWise admin charges may specifically apply in the following scenarios:
      from EURfrom GBP
      Invalid recipient account details8.00 EUR8.00 GBP
      Refused payment (see Section 3.6)8.00 EUR8.00 GBP
  4. General Terms
    1. Third Party Services
      You acknowledge and agree that TransferWise may engage third party partners and providers in order to deliver you the Services.
      By using our Services, you agree to be bound by any user agreements established by any third party partners and providers that TransferWise engages with, including the “End User Terms of Use” established by XE, which are available on This is in addition to the Terms and Conditions set out in this Agreement.
      By accepting and agreeing to the partner’s terms and conditions you expressly acknowledge that TransferWise acts as agent of the partner and that TransferWise shall have no liability for the actions or omissions of the third party partner.
    2. Communications
      We are required to provide certain information to you in writing. By accepting this Agreement, you agree that we can communicate with you electronically either by email or by posting notices on the TransferWise website.
    3. Events Outside Of Our Control
      If we are unable to perform our obligations under this Agreement because of factors beyond our control, including a change of law, an event of Force Majeure, withdrawal of a currency or the imposition of sanctions over a country or beneficiary, we will notify you as soon as is reasonably practicable and will use reasonable endeavours to secure the return of any money paid by you in respect of which we have been unable to discharge our obligations under this Agreement. We will not have any liability to you where we are unable to perform our obligations.
    4. Complaints
      We are committed to providing you with the highest standards of service. If you feel we have not achieved that, you can find information about our complaints procedure here.
    5. Entire Agreement
      This Agreement and any document expressly referred to in it constitutes the whole agreement between us and supersedes any previous discussions, correspondence, arrangements or understandings between us.
    6. Law And Jurisdiction
      The provision of the Service and any dispute or claim arising out of the provision of the Service is governed by English law.
      Any dispute or claim arising out of or in connection with the Service will be subject to the non-exclusive jurisdiction of the courts of England and Wales.
  5. Definitions
    • "Deposit" has the meaning given in section 3.3.
    • "Agreement" means this agreement including all subsequent amendments.
    • "Business Days" means a day (other than a Saturday or Sunday) on which banks in England are open for business (other than for the sole purpose of 24-hour electronic banking).
    • "Fixed Target Payment" has the meaning given in section 3.1a.
    • "Fixed Source Payment" has the meaning given in section 3.1b.
    • "Days" means calendar days.
    • "European Economic Area" or "EEA" means region made up of the following countries: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden and the UK.
    • "Fees" means those amounts stated in section 4 of this Agreement.
    • "Force Majeure" means events or causes including, but not limited to, the following: an act of God, peril of the sea, unavoidable accident of navigation, war (whether declared or not), sabotage, riot, insurrection, civil commotion, national emergency (whether in fact or law), martial law, fire, flood, cyclone, earthquake, landslide, explosion, power or water shortage, failure of a transmission or communication network, epidemic, quarantine, strike or other labour difficulty or expropriation, restriction, prohibition, law, regulation, decree or other legally enforceable order of a government agency, breakage or accident, change of International, State or Commonwealth law or regulation or any damage of TransferWise’s machinery or systems, unless occurring as a result of an act, omission, default or negligence of you or TransferWise.
    • "Payment Order" means an instruction validly made by you to us requesting the execution of a payment transaction.
    • "TransferWise", “Exchange Solutions”, "we", "us" or "our" means TransferWise Ltd. with registered head office at 186-188 City Road, London, United Kingdom and includes its successors and any person to whom it has assigned it rights under this Agreement.
    • "TransferWise website(s)" means any URL, such as, owned and operated by TransferWise that we use to provide the Services to you.
    • "Policy" or "Policies" means any Policy or other agreement between you and TransferWise that you entered into on the TransferWise website(s), or in connection with your use of the Services.
    • "Services" means all payment services and related products available through the TransferWise website(s).
    • "User," "you" or "your" means you and any other person or entity entering into this Agreement with us or using the Service.
    • "Verified" means that you have completed our verification process in order to help establish your identity with TransferWise.

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