Terms & Conditions

About Us

Fayzano Limited

LAST UPDATED: 10/02/2022

1. About the Terms of Service

1.1. The Terms of Service (“Agreement”) is a contract between you and Fayzano Limited (“Fayzano”, “we”, “us” and “our”) that governs your access to and use of our Platform as well as the Service we offer through our Platform. By using the Platform or Service, you are acknowledging and agreeing that you have read, understood and accepted this Agreement. 1.2. If you want to use our Service, you should read this Agreement carefully. It sets out the terms and conditions that apply to your usage of the Service and Platform, your and our rights and obligations. It covers such important topics as termination of this Agreement and your and our liabilities towards each other. You should make sure that you fully understand this Agreement before you accept it. 1.3. This Agreement is available only in English, and there are no official binding translations of this Agreement. 1.4.The law of England and Wales governs the performance and interpretation of this Agreement and disputes arising under it. I f there is a dispute, the courts of England will have exclusive jurisdiction to solve it, and any proceedings shall be held in England. 1.5.You can get a copy of this Agreement by printing or downloading it via the Platform or by emailing us and requesting a copy of it.

2. About Fayzano

2.1. Fayzano is a private limited company in England and Wales (company number: 13065727) with its head office and registered address at Suite 212 Rex House, 354 Ballards Lane, London, England, N12 0DD. 2.2. Fayzano is a Small Payment Institution registered by the Financial Conduct Authority (firm reference number: 944414). If you want to know more about our permission to provide payment services, please, visit the Financial Services Register available at https://register.fca.org.uk . 2.3. You can always contact us via the Platform or by emailing us at info@fayzano.com

3. Language and our communication with you

3.1. Our Service and our Platform is available only in English, and all correspondence from us will always be in English. 2.1. We may contact you by using the email you provided to us during the Registration to send you messages regarding your usage of the Service, updates and news and if there is a suspicion of unauthorised access to your Account.

4. Service

4.1. Fayzano is a remittance company that offers an international money transfer Service to send money to various destinations using various payment methods. 4.2. The Service allows you as the Sender to transfer Funds denominated in a currency of your choice to a Recipient of your choice as long as we support the currency, and the country of destination. 4.3. You should note that the Service is available only to those who are at least 18 years old.

5. Registration

5.1. To access the Service, you need to Register your Account using the Platform. We will ask you to provide your full name, residential address, and date of birth. 5.2. You must not register more than one Account, and we may, at our sole discretion, reject Registration of any additional Account and close any additional Accounts without notifying you beforehand. 5.3. We may also request you to provide us with any documents confirming your identity and information about you and to undergo an identity verification procedure. You must provide us with documents and information that are current and accurate.

6. Transfers

6.1. You can make a transfer by utilising one of these Funding Sources: 6.1.1. a payment account (you transfer your Funds from a third party payment services provider using a wire transfer); 6.1.2. a payment card (you transfer your Funds to us using your payment card); 6.1.3. cash (you physically provide Us with the Funds in coins or notes at one of our locations). 6.2. You should note that we do not have access to your Funding Sources and that we are not responsible for their performance. 6.3. You must use only Funding Sources that are in your name and belong to you. 6.4. You can authorise us to make a transfer on your behalf by submitting your Payment Instruction using the Platform or completing the form in person at one of our locations. We do not accept any Payment Instructions via email, phone or other means of communication. 6.5. When you submit a Payment Instruction, you must provide us with the following information: 6.5.1. the Transfer Amount; 6.5.2. the identification details of the Recipient; 6.5.3. the Recipient’s account sort code and account number or for international payments the Recipient’s account BIC and IBAN or account number; 6.5.4. whether we need to exchange currency on your behalf; 6.5.5. information about the Funding Source; 6.5.6. other information we may request from you via the Platform or in person at one of our locations. 6.6. We may request you to provide us with some documents and information relating to your transfers after you have already submitted a Payment Instruction. You should respond to such requests promptly and diligently as our provision of the Service to you depends on your compliance with such requests. 6.7. We receive your Payment Instructions during Business Days. If you submit a Payment Instruction not during a Business Day, we will receive it on the next Business Day. 6.8. Your possibility to make transfers may be subject to, daily, monthly and annual limits. There may be also a limit applicable to the maximum Transfer Amount. You can find limits applicable to you by logging in to your Account. 6.9. Via the Platform, you can view or download the following data about your Payment Instructions and executed transfers: 6.9.1. the date of the Payment Instruction; 6.9.2 the Transfer Amount; 6.9.3. the currency of the Transfer Amount; 6.9.4. the Payout Amount; 6.9.5. the currency of the Payout Amount; 6.9.6. any Fees charged; 6.9.7. the exchange rate.

7. Currency exchange

7.1. If you instruct us to exchange currency on your behalf, the Platform will show the currency that you can send and what exchange rate will apply or you will be notified regarding the exchange rate at one of our locations before undertaking the currency exchange. By instructing us to initiate a transfer in a currency other than the currency you used to fund a transfer, you agree to the exchange rate applied to the transaction and that we may earn revenue from the exchange rate applied. 7.2. The exchange rate applicable to each transfer is determined by us and depends on the time at which a Payment Instruction is submitted. You should note that the exchange rate may fluctuate and that you can always check it via the Platform.

8. Cancellation of Payment Instructions

8.1. We may cancel a Payment Instruction in the following situations: 8.1.1. we suspect unauthorised access to your Account; 8.1.2. information provided to us is unclear or insufficient; 8.1.3. we are not legally allowed to act on the Payment Instruction; 8.1.4. you violated rules prescribed in Section 11; 8.1.5 we are required to cancel the Payment Instruction in accordance with our legal obligations or internal policies and procedures. 8.2. We may temporarily or permanently limit your possibility to submit Payment Instructions (i.e., all Payment Instructions coming from your Account will be cancelled) in the following instances: 8.2.1. if we suspect unauthorised access to your Account; 8.2.2. if you violated rules prescribed in Section 11; or 8.2.3. if we no longer can provide the Service in accordance with our legal obligations or internal policies and procedures. 8.3. We will notify you as soon as possible via the email you provided to us in case there is a situation described in Clauses 8.1.1., 8.1.2., and 8.2.1. If there is a situation described in Clauses 8.1.3., 8.1.4., 8.1.5., 8.2.2., or 8.2.3. we will notify you via email as soon as possible and when we are legally permitted to do so. 8.4. You cannot cancel the Payment Instructions you submitted via the Platform or in person at one of our locations. However, if you have noticed a mistake, you should contact us immediately, and we will try to help. You should note that we do not give you any guarantee that a transfer you initiated will be stopped.

9. Execution of Payment Instruction

9.1. We will start acting on your Payment Instruction immediately once we receive the Payment Instruction and the Funds unless the Payment Instruction is cancelled in accordance with Section 8. 9.2. The maximum amount of time it takes the Payout Amount to reach the Recipient depends on the payment method. Usually, the Platform will indicate the approximate execution of a transfer. You can also check the table below to understand the maximum execution time for various payment methods. Payment method Maximum execution time from the moment we receive your Payment Instruction GBP transfer via Faster Payments Immediately EUR transfer via SEPA Instant Credit Transfer (SCT Inst) Immediately EUR transfer via SEPA Credit Transfer (SCT) By the end of the Business Day SWIFT transfer within the European Economic Area By the end of the fourth Business Day SWIFT transfer outside the European Economic Area It is not possible to predict the exact amount of time required to execute a Payment Instruction. The amount of time it will take varies. As a general rule, you should expect the Payout Amount to reach the Recipient by the end of the eighth Business Day. In any case, you can contact us for an estimated execution time before you submit a Payment Instruction or after you have already submitted it. 9.3. If you think that a Payment Instruction was executed incorrectly or it was submitted without your authorisation, you must contact us as soon as you become aware of it and, in any event, within 13 months of the date the Payment Instruction was received by us.

10. Fees

10.1. The Account you have is free, and you only pay us Fees for transfers you make. The Fees depend on the payment method, Recepient’s country, currency and may be subject to change. You can always check them by logging into your Account. Moreover, you will be notified at one of our locations or the Platform will show you the applicable Fee before you can submit a Payment Instruction. 10.2. You should note that we are not responsible for any fees and charges levied by the Recipients’ payment service provider and for any fees and charges levied by PSP that provided you with a Funding Source when you fund your transfer (e.g., fees levied by your payment service provider). 10.3. You may have to pay us other fees if, as a result of your Payment Instruction and potentially illegitimate actions, we are charged a fee from our banking partner, card network or a third party. For example, such a situation may arise if you fund a transfer with a payment card and request a chargeback. 10.4. In an unlikely situation where the transfer is completed when there is insufficient money on your Funding Source, we will investigate the situation and may require you to reimburse us. If we realise that you created this situation intentionally, we may consider it as a fraudulent action and report it to a relevant authority.

11. Restrictions

11.1. In addition to other rules provided in this Agreement, the following rules apply when you use the Service and the Platform: 11.1.1. You cannot use the Service to do anything illegal or to break any law. Such situations include but are not limited to the legalisation of the illegal proceeds and other forms of money-laundering, fraud, funding of the terrorist organisation, illegal trade. 11.1.2. You shall cooperate with us if we conduct any investigation relating to your usage of the Service and provide us with information and documents we may request. 11.1.3. You shall not provide us with inaccurate, false, incomplete, or misleading information during the Registration or in any situation where we may require you to provide us with some information or documents; 11.1.4. You shall not control an Account that does not belong to you. 11.2. You should note that if you violate Clause 11.1., we may make report this event together with your personal data and data about your Account to a relevant regulator, police agency or other law enforcement agency. 11.3. Restrictions prescribed in Section 11 do not limit your right to complain in accordance with Section 15.

12. Security of your Account

12.1.While we have measures in place to you protect your Account, You are responsible to keep your Account safe and prevent any unauthorised access to the Platform. You must: 12.1.1. be careful with your password. You should not tell anyone your password, and you should not be careless with the secrecy of your password; 12.1.2. notify us without undue delay, change your password and try to restore access to your Account, if you have any suspicion that your Account, password, or other security details are lost, stolen, misappropriated, used without authorisation or otherwise compromised; 12.1.3. log out of your Account every time you leave the computer or other device used to gain access to the Platform to mitigate against the risk of unauthorised access to your Account; 12.1.4. make sure that the browser you use to connect to the Platform does not save your password; 12.1.5. keep your email account, phone number linked to your Account safe; 12.1.6. check your email linked to your Account regularly to ascertain if someone is trying to change your Account details or submit Payment Instructions; 12.1.7. make sure that your computer or device you use to connect to the Platform is secure. This means having anti-virus software and making sure it is up to date. 12.1.8. You should note that any delay in notifying us in accordance with Clause 12.1.2. may result in you being liable for the losses resulting from unauthorised access to your Account.

13. Your personal data

13.1. If you want to understand how we deal with your personal data, you should read our privacy and cookie policies . By accepting this Agreement, you also agree to the terms of these policies. 13.2. You can get a copy of these policies by printing or downloading them via the Platform or by emailing us and requesting their copies.

14. Intellectual Property

We and, in certain instances, third parties are the rightful owners of all intellectual property relating to the Service, including but not limited to the content, design, trademarks, copyright, trade secrets, patents, database rights, service marks. You may not copy or reproduce it without our permission or permission from a relevant third party, but you have the right to use the Service following the rules of this Agreement.

15. Complaints

15.1. If you are unhappy with the way the Service is provided to you or have any other complaints, you should contact our customer support. If our customer support is unable to help you and you are still unhappy, you can submit a formal complaint by emailing us at info@fayzano.com, and we will assign a dedicated team member to deal with your complaint quickly and fairly. We will provide you with a final response to your complaint within 15 Business Days (35 Business Days in exceptional cases). 15.2. If you are not unhappy with the manner in which we have dealt with your complaint or the outcome, you can refer your complaint to the Financial Ombudsman Service at Exchange Tower, London E14 9SR. Telephone: 0800 023 4567 or 0300 123 9123 and e-mail: complaint.info@financial-ombudsman.org.uk .

16. Liability

16.1. Subject to limitations provided in this Section, if your Payment Instruction was executed incorrectly or it was submitted without your authorisation, and the transfer was executed, you may be entitled to a refund if you notify us in accordance with Clause 9.3. if one of the following applies: 16.1.1. you had not known that your Account was at risk of being misused before it was misused; 16.1.2. the loss was caused by our employee; 16.1.3. you told us in accordance with clause 11.1.2. that someone could get access to your Account, and we should have acted on this information, but we did not act and, if we did, you would not have lost money; 16.1.4. we did not follow security checks, which we must follow in accordance with the applicable law, to verify a Payment Instruction allegedly coming from you. 16.2. You may be still liable for up to 35 GBP if a Payment was submitted without your authorisation and the transfer was executed if none of the situations described in Clause 16.1. apply. 16.3. You are liable for all losses incurred by you and us if a Payment was submitted without your authorisation and the transfer was executed, and you have acted fraudulently or with intent or gross negligence have failed to comply with your responsibilities prescribed in this Agreement. 16.4. We are not liable if your Payment Instruction was executed incorrectly if: 16.4.1. we can prove to you that the Recipient’s payment service provider received the Payout Amount; 16.4.2. the situation happened due to abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all efforts to the contrary; or 16.4.3. correct execution of your Payment Instruction would result in us breaking any provisions of applicable national, international, foreign regulations or our internal policies and procedures. 16.5. We may be liable to you only for your direct losses, which include the Transfer Amount. We are not liable for any indirect losses. 16.6. We shall not be responsible for any damage that may happen if our Platform or Service becomes unavailable or dysfunctional unless, as a result of this event, your Payment Instruction was executed incorrectly or a Payment Instruction was submitted without your authorisation, and the transfer was executed. We are also not responsible for any content posted on our Platform by third parties or us.

17. Changes to this Agreement

17.2. We may need to change this Agreement from time to time. We will let you know at least two months in advance by emailing you the changes. 17.3. If you keep using the Platform or the Service after we tell you about the changes, that means you agree to accept them. If you do not agree to the change to this Agreement, you must send us a notice, and we will close your Account as soon as possible. Otherwise, you will be treated as agreeing to the new version of the Agreement. 17.4. If there are any changes to the Fees we charge for transfers, you will be able to see them prior to submitting a Payment Instruction.

18. Term and termination of this Agreement

18.1. This Agreement governs the relationship between you and us until it is terminated. 18.2. You can terminate this Agreement at any time by sending us a notice. We will close your Account as soon as possible. 18.3. We can terminate the Agreement upon two months’ notice, or immediately if one of the following situations apply: 18.3.1. we have a reasonable belief that you may be using the Platform or the Service in connection with an illegal, fraudulent, or unethical activity or to promote or support discriminatory, extreme or offensive practices, or to break or try to break the security of the Platform, Service or to permit or encourage a third party to do any of these things; 18.3.2. you violated Section 8; 18.3.3. we have to terminate this Agreement in accordance with our legal obligations or internal policies and procedures. 18.4. If this Agreement is terminated, it does not affect any claims that you have against us or that we have against you, which arose before the date of termination. 18.5. If this Agreement is terminated, your data will not be deleted from our systems. We will continue to keep your data as we are required by law to store it for five years in accordance with our privacy policy.

19. Severability

If a court finds that any part of this Agreement is invalid, the rest of the Agreement shall be still considered enforceable and in full force.

20. Waiver

If we do not exercise or enforce a right or provision of this Agreement, that does not mean that we have waived the right to exercise or enforce any right or provision of this Agreement.

21. Assignment of rights

Rights and obligations enshrined in this Agreement are personal to you, and you cannot assign them to someone else. We can assign rights and obligations under this Agreement to any entity after giving you at least two months notice.

22. External links

The Platform may contain links to other websites. We are not responsible for the accuracy, completeness or any aspect of these other websites. You access such websites at your own risk.

23. Entire agreement

This Agreement is the entire agreement between you and us. It replaces all other agreements about the subject matter of this Agreement.

24. Headings of this Agreement

This Agreement has headings that explain what we mean in the Sections that follow, but those are only provided for you for your convenience and do not form part of this Agreement and shall not be used to interpret this Agreement.

25. Rights of third parties

No other person has the right to enforce any of the terms in this Agreement. It is just between you and us.

26. The meaning of words and phrases not defined in the Agreement

26.2.“Account” means an account that can be used to access the Platform and use the Service. If you cannot log in to your Account, you cannot use the Service. 26.3.“Business Day” means any day starting at 9 AM and ending at 5 PM (UK timezone), which is not a Saturday or Sunday, Christmas Day, Good Friday or a bank holiday in England. 26.4.“Funds” means funds paid to us by the Sender to execute a disbursement to the Recipient. 26.5.“Payment Instruction” means an order given by the Sender that instructs us to make a disbursement the  Recipient via the Service. 26.6.“Payout Amount” means the amount paid out to the Recipient. 26.7.“Platform” means any app, website, interface or other digital platforms we provide from time to time to enable you to use the Service under this Agreement. 26.8.“Recipient” means a person who receives money that has been disbursed via our Service. 26.9.“Registration” means the process of opening an Account by submitting an application via the Platform. 26.10.“Sender” means a person who uses our Services to send Funds. 26.11.“Transfer Amount” means the value of Funds paid to us by the Sender to execute a disbursement to the Recipient.