1.1. The Parties to this Agreement and participants in each transaction are an individual person or legal entity (the ‘Customer’) and British Far East Bank "BFE Bank” mean British Far East Bank Ltd, Wizard Offshore and Wizard e-Wallet and their partners, associates and assigns such as SmartyCash, Frux Private Bank and Dixipay et al, which offer an electronic money payment and other financial services, and are variously registered/licensed or hold deposits in licensed banks in the UK, New Zealand, Latvia, The Bahamas, The Gambia, and other jurisdictions. BFE Bank, Wizard Offshore and Wizard e-Wallet are the marketing agent for SmartyCash Ltd /Frux Private Bank consortium
1.2. This agreement describes customer’s rights and obligations when using these services. Customer must read it carefully and be sure to have understood these Terms & Conditions.
1.3. These Terms & conditions of Use constitute the entire and whole agreement between the parties with respect to the subject matter hereof and supersede and replace any and all prior agreements. In the event of inconsistency between this version of the Terms & conditions of Use and the online version at www.BritishFarEastBank.com, then the written version will prevail.
1.4. Creation or use of account hereunder through BFE Bank and its partners, associates and assigns means Customer accepts all the Terms and Conditions of this agreement.
1.5. Customer acknowledges that Terms & Conditions of Use are subject to amendment, modification or deletion if required by, or found to be in conflict with, applicable law or regulation or otherwise without affecting the validity or enforceability of the remaining terms and conditions.
1.6. BFE Bank reserves the right to amend these Terms & Conditions of Use at any time by posting the amended Terms & Conditions of Use on the BFE Bank website.
1.7. Amended Terms & conditions of Use shall become effective 30 days after they are posted on the DIXIPAY website. Changes will be posted on the Terms & conditions of Use Updates page on the DIXIPAY website.
1.8. BFE Bank may send notices to Customer at the email address or postal address provided. Customer may send notices to the Company’s customer service department. Any notices by either party under these Terms & conditions of Use by email shall be deemed given on the day the email is sent, unless the sending party receives an electronic indication that the email was not delivered; and if by mail, shall be deemed given six (6) business days after the date of mailing.
1.9. The original English language version of this agreement may have been translated into other languages. In the event of inconsistency or discrepancy between the English language version and any other language version of this agreement, The English language shall prevail.
2.1. Customer acknowledges that (i) BFE Bank is acting as marketing agent for SmartyCash, Frux Bank and others, (ii) Accounts are not directly insured by any government agency. Instead the funds held on deposit for clients by SmartyCash are or may be insured by the various banks holding those funds under the relevant banking insurances covering those banks in their respective countries. (iii) Responsibility for funds held on deposit are with SmartyCash Ltd and the banks and financial institutions actually holding those funds.
2.2. BFE Bank operates as a marketing agent for SmartyCash / Frux Private Bank and their associates and partners who provide respectively provide electronic money payment service processing offering online financial services for individuals and corporate customers that allows Customer to send and receive payments whereby the Customer is granted the use of an account to which funds may be added and stored so that the Customer may subsequently access those same funds to carry out payment and transfer transactions with third parties.
2.3. BFE Bank's financial partners shall hold the Customer funds in accounts and shall provide the Customer with the means to make payment and transfer transactions with the funds in their account.
2.4. A Wizard account is valid for one year from date of activation. After which it will be automatically renewed, and an annual fee may be charged by debiting the Customer account.
2.5. Funds stored in a Customer Wizard account have no expiration date.
2.6. Customer agrees that BFE Bank has the right to monitor the BFE Bank Network electronically from time to time in order to operate the System properly.
2.7. The Merchant acknowledges and agrees that the BFE Bank service operates solely as a payment intermediary and that BFE Bank is (i) under no circumstances functions as a seller, buyer, dealer, middleman, retailer, auctioneer, supplier, distributor, manufacturer, broker, agent or merchant of any product or service being ordered, obtained or procured by any funds processed through its services; and (ii) makes no representations or warranties and does not ensure the quality, safety or legality of any product or service purchased with funds received through the BFE Bank Services.
2.8. The Merchant acknowledges and agrees that any dispute regarding any product or service purchased or procured by any funds requested or received through the BFE Bank Services or any transaction involving the BFE Bank Services is between the sender and receiver of the funds and/or the supplier and receiver of the goods or services. Any transaction connected with the products and services offered by the Merchant shall only obligate the Merchant. BFE Bank shall not be a party to any resulting dispute including but not limited to disputes over performance and liability issues relating to the delivery, quality, quantity or use of the products and services offered by the Merchant. the Merchant shall fully indemnify BFE Bank against any claim by third parties relating to the use of the products and services offered and shall reimburse BFE Bank in full for the costs of any legal defense.
Customer may open a BFE Bank account by completing the online application form. A Customer must maintain an active address, phone number and email address to become a Customer and may not provide any false, inaccurate, incomplete or misleading information. Customer must not provide any name, bank account or credit card that he/she is not legally authorized to use. Customer is responsible to ensure that the details provided at registration and later are kept up to date. BFE Bank reserves the right to request further information pertaining to Customer’s account at any time. Failure to supply such information may result in limitation on usage of this service or suspension of the account.
4.1. The password must not be disclosed to any third party, nor may Customer use anyone else’s Password. Customer is solely responsible for the security of his/her Login and password.
4.2. Customer agrees that BFE Bank will treat any person accessing Customer’s account using the correct Customer’s login and Password as the Customer and all transactions where the login and password have been entered correctly will be regarded as valid.
5.1. In order to upload money, Customer may choose from one or more payment options available to Customer depending on Customer’s country of residence. Customer must also complete the information requested, including passing all identity and security validation and verification checks. Customer authorizes BFE Bank to obtain or receive funds on his/her behalf from Customer’s chosen payment source, plus applicable fees, and then issue electronic money to his/her account.
5.2. A bank transfer received by BFE Bank which (i) was sent from a bank account not held in Customer’s name or (ii) does not contain Customer’s User ID as payment reference will not be credited to the Customer’s BFE Bank account but returned to the sender provided BFE Bank has sufficient details to return the payment. In such cases, an administration fee of $15 will be deducted from the original deposit amount.
5.3. Uploads may be subject to upload limits due to security and legal requirements. These limits are set dynamically depending on your verification status and the upload method you want to use. You should be aware that depending on your verification status your upload limits may be higher than your withdrawal or spending limits. You can view these limits at any time in the relevant section of your Account profile.
5.4. Uploads are subject to upload fees and currency conversion depending on which upload method and payment instrument is chosen.
6.1. Anyone who Customer instructs BFE Bank to pay to must have a valid email address. Customer may instruct BFE Bank to make a payment by entering the email address of the person or entity to receive the payment and the amount Customer wishes to send on the “Send Money” page of the BFE Bank website.
6.2. When Customer sends a payment, BFE Bank will obtain the funds plus any commission first by debiting Customers funds in the BFE Bank accounts, if any. If the Customer’s funds are not sufficient to carry out Customer’s payment in full, BFE Bank will obtain the remaining funds per Customer’s instructions by debiting a bank account that Customer designates, charging Customers credit card or any other available method of payment. BFE Bank reserves the right to limit an account-holder’s choice of funding sources for any individual payment at its discretion.
6.3. BFE Bank will immediately send the funds to the recipient’s BFE Bank account. If the recipient does not have a BFE Bank account, BFE Bank will send him/her an email asking him/her to register and activate an account with BFE Bank in order to receive the sum Customer has sent.
6.4. Until the payment is accepted by the recipient, Customer remains the owner of those funds and BFE Bank holds those funds as agent, but Customer will not be able to withdraw those funds or send the funds to any other recipient unless the initial transaction is cancelled. If, within 14 days from payment being sent to a non-registered BFE Bank recipient, he/she has not opened and activated a new BFE Bank account, BFE Bank will cancel the transaction and the money will be sent back to the Customer’s account.
6.5. Some accounts, at BFE Bank discretion, may have a higher or lower spending limit depending on their verification status.
7.1. When receiving payments through the Service, the amount received is credited to the Customer’s electronic money storage account until Customer further instructs DIXIPAY with respect to the transmission of his/her funds.
7.2. If a person receives a notice that a payment has been sent to him through BFE Bank but he has not registered for the Service, BFE Bank will NOT issue any electronic money to him and will NOT in any way become his agent and the recipient of said notice will have no claim to those funds unless and until he registers for the Service and indicates his acceptance of the payment.
7.3. Through the BFE Bank website, Customer may provide instructions to withdraw the funds or transfer the funds to a third party.
7.4. When Customer receives a payment through the Service, he/she is NOT protected against a subsequent reversal of the transaction. Examples of such a reversal include, but are not limited to, a credit card reversal by the sender of the payment and a reversal of the transaction because the sender of the payment was using a stolen credit card or unauthorized bank account.
8.1. BFE Bank strictly prohibits sending or receiving payments as consideration for the sale or supply of the following:
8.1.1. Any item that violates any law, statute, ordinances, or regulations.
8.1.2. Drugs or drug paraphernalia including narcotics, steroids, and certain controlled substances that presents a risk to customer safety.
8.1.3. Selling of prescription drugs, or tobacco products.
8.1.4. Illegal gambling unless the recipient holds the requisite licenses for the same and/or is located exclusively in jurisdictions where such gambling activities are permitted by law, such as citizens or residents of certain countries but not limited to the United States of America, Turkey, China, Malaysia or Israel. BFE Bank reserves the right in its own discretion to amend the list of countries where it is prohibited to send payments to gambling activities as described above.
8.1.5. Child pornography or related hardcore content or services of any kind.