Terms and conditions
These general terms and conditions govern the use of Tawakal UK Limited website, mobile application, products and services. Read these Terms carefully before the use of the service and contact us if you have any questions.
Prerequisites for the use of the service.
• Users must be at least 18 years old to use the Services.
• Users may only open one account. Tawakal UK Limited may close or merge duplicate accounts at its sole discretion.
• You undertake to act on your own behalf when using the Service and to only use an account in your own name.
• You furthermore undertake to notify our customer support team in writing if you are or have been a politically exposed person (PEP) and thus have or have had a high political or state position, or is related to and/or a close associate of a person with such position.
• By accepting the Terms, you confirm that neither you or the recipient are subject to any sanctions imposed by the EU, the UN and/or the US and that the Service will not be used for illegal purposes, such as money laundering, terrorist financing or fraud. Nor will the Service be used to dispose of, acquire, hold or use funds deriving from criminal activities.
Customer due diligence
• We are required by law to carry out customer due diligence checks on you in order to provide the Service to you.
• You undertake to identify yourself with a valid ID. You are responsible to ensure that the information provided when creating an account is complete and correct.
• In addition, you agree that we may make, directly or through a third party, inquiries and checks we consider necessary to validate or supplement the information you have provided to us.
Use of our Services
• In order for a money transfer order to be executed correctly, you are required to give and/or follow the instructions given within our Service at the time of making the transfer.
• Your approval to make a transfer is given at the time of your payment. A money transfer order shall be considered to have been received by us when you have approved the transfer, at which time you may no longer withdraw the transfer.
• You undertake to ensure that the recipient will show and/or provide any customer due diligence information as requested by us and/or the pay-out party upon the receipt of the transfer, such as valid identification documentation, and/or other information as reasonably requested.
• It is our responsibility to correctly execute a valid money transfer order initiated by you. However, an approved and/or confirmed money transfer order may still be refused if we have reason to believe that: (i) any information provided would be incorrect and/or incomplete; (ii) the use of the Service is non-secure; (iii) you would be in breach of any provision of these terms or any other policies or instructions related to the Service; (iv) you would be in breach of any applicable law or regulation; (v) we or any intermediary party would breach applicable law or regulations if the transfer is executed; and/or (vi) we or any intermediary party would be requested or recommended to do so by any competent court of law, regulating authority, public agency, law enforcement agency or industry association. We may also refuse an approved and/or confirmed money transfer order if: (i) you have reached applicable transaction limits; and/or (ii) we or any intermediary party would require further information from you or the recipient. .
• You are responsible to ensure that private information, such as login information, passwords and the likes, are used and dealt safely and that they are kept secret and inaccessible to un-authorised persons.
• You are required to inform our customer support team by email or phone as soon as possible if there is any reason to believe that an unauthorised person has gained access to or knowledge of login information, passwords and/or equivalent information. If you fail to comply with the security instructions described above, you will be responsible for any damage caused to us and for any debiting arising from the use of the Service by an unauthorised person. Unauthorised debiting must be notified directly to the relevant bank to block the applicable card / bank account and to reclaim the relevant payment.
• Information on applicable fees and exchange rates are available within the Service. The applicable exchange rate will be calculated at Tawakal UK Limited discretion based on the market rate and a possible mark-up, as determined by Tawakal UK Limited from time to time. Before the approval of a transfer the exact fee and exchange rate for the specific transfer will be shown within the Service.
• In the event of a complaint by a user regarding the service, the user may file a written complaint to Tawakal UK Limited customer support team to: email@example.com (write “Complaint” in the subject line) that will conduct an investigation into the matter and provide a written answer within 15 business days after its receipt of the complaint. If, despite contacts with the customer support team, the solution does not result in a satisfactory solution for the user, the user may contact the Financial Ombudsman Service (FOS) South Quay Plaza, 183 Marsh Wall, London E14 9SR. Tel: 08450801800. Complaint.firstname.lastname@example.org.