Terms and Conditions

PLEASE READ THESE TERMS OF USE CAREFULLY AS THEY CONTAIN IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEDIES AND OBLIGATIONS. THESE INCLUDE VARIOUS LIMITATIONS AND EXCLUSIONS, AND A DISPUTE RESOLUTION CLAUSE THAT GOVERNS HOW DISPUTES WILL BE RESOLVED.

1. Stipulations

1.1. It is a condition of membership that the Customer agrees to these Terms of Use (the "Terms of Use" or "Agreement"), which form a legally binding contract, in order to become a Customer of PayGlobalOne. As PayGlobalOne's business is constantly evolving and PayGlobalOne introduces new products and services over time, these Terms of Use may be amended from time to time. PayGlobalOne reserves the right to amend these Terms of Use at any time by posting the amended Terms of Use on the PayGlobalOne website. Amended Terms of Use shall become effective 30 days after they are posted on the PayGlobalOne website. Changes will be posted on the Terms of Use Updates page on the PayGlobalOne website. Customer may review changes at any time by clicking on the Terms of Use Update section on the PayGlobalOne website. Customer may review the current Terms of Use prior to initiating any transaction at any time by clicking on the Terms of Use section on the PayGlobalOne website. A revision will not affect any transaction that is outstanding as of the date of such revision.

1.2. The Parties to this Agreement and participants in each transaction are an individual person or legal entity (the 'Customer') and PayGlobalOne.Com, subsidiary of TheKoin.Com, a company registered in NSW, Australia which offers an electronic money service globally.

1.3. PayGlobalOne and the Customer are the only parties who may rely on or enforce these Conditions and for this reason the Contract (Rights of Third Parties) Act 1999 is excluded.

2. Description of Service

2.1. PayGlobalOne operates an electronic money service that allows Customer to send and receive payments (the "Service"). Funds held on Customer's online stored value account are electronic money. The balance of Customer's electronic money account is redeemable at any time and shall be disposed of only in accordance with his/her instructions given via the PayGlobalOne user interface.

2.3. All fees are set forth in a separate Fee Schedule published at any time on PayGlobalOne web site being subject to change following the procedure as set forth in paragraph 1.1. at PayGlobalOne's sole discretion.

2.4. Funds stored on the Customer's user account have no expiration date.

2.5. Customer acknowledges, that
(i) PayGlobalOne is not a bank;
(ii) Accounts are not insured by any government agency;
(iii) PayGlobalOne does not act as a trustee, fiduciary or escrow holder in respect of balances in your account; and
(iv) PayGlobalOne does not pay interest on any balances in the Customer account.

3. Membership

3.1. Customer and in case of a legal person the authorised representative must be at least 18 years old to use the PayGlobalOne Service.

3.2. Customer may only open an account by completing the online membership 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 is not legally authorised to use. Customer is responsible to ensure that the details provided at registration and later are kept up to date. PayGlobalOne 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 the Service or suspension of the account.

3.3. Each person is only entitled to open one account. The Company reserves the right to close the account of any Customer who has opened multiple accounts on his/her name.

3.4. There is no interest paid on any monies held in a Customer account.

3.5. Some Customers may be eligible to participate in a bonus programs. Said bonus programs, as to their conditions, amount and issuance, shall be subject to the discretion of the Company, and shall be non-transferable and non-refundable. Any bonus offered by the Company is limited to one per household.

3.6. Company will ensure that all personal details of the Customer are held in the Company's published privacy statement.

3.7. By opening an account, Customer will be able to, subject to payment of any applicable fees, upload money to be credited to his/her account, to send money to and receive money from Merchants or other Customers and withdraw money from his/her account.

3.8. PayGlobalOne reserves the right in its own discretion to charge a fee for receiving money if a customer is using the account for commercial purposes.

4. Login

4.1. The password should not be disclosed to any third party. Customer is solely responsible for the security of his/her user name and password.

4.2. Every person who identifies him/herself by entering the correct login email and password is assumed by PayGlobalOne to be the rightful account holder/Customer and all transactions where the login email and password have been entered correctly will be regarded as valid.

5. Uploading Payments

5.1. In order to upload electronic 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 authorises PayGlobalOne 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 PayGlobalOne 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 PayGlobalOne account but returned to the sender provided PayGlobalOne has sufficient details to return the payment. In such cases, an administration fee will be deducted from the original deposit amount.

6. Sending Payments

6.1. Anyone who Customer instructs PayGlobalOne to pay to must have a valid merchant account. Customer may instruct PayGlobalOne 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 PayGlobalOne website.

6.2. Until the payment is accepted by the recipient, Customer remains the owner of those funds and PayGlobalOne 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 7 days from payment being sent to a non-registered PayGlobalOne recipient, he/she has not opened and activated a new PayGlobalOne account, PayGlobalOne will cancel the transaction and the money will be sent back to the Customer's account.

6.3. Some accounts, at PayGlobalOne's discretion, may have a higher or lower spending limit depending on their verification status.

6.4. It is strictly forbidden to send payments in order to pay for:

    tobacco products,
    alcohol,
    prescription drugs,
    drugs and drug paraphernalia,
    firearms and ammunition,
    weapons and knives,
    satellite and cable TV descramblers,
    porn and hardcore content or services,
    government IDs and licences,
    unlicenced lotteries,
    stored value cards or pre-paid debit cards, if they are not associated with a single vendor and don't have a dedicated use,
    illegal multi-level marketing and pyramid selling services as well as
    illegal downloads or any other goods and services infringing intellectual property rights of a third party.

Furthermore, it is strictly forbidden for citizens or residents of the United States of America, Turkey, China, Malaysia or Indonesia to send payments to websites offering gambling services such as sports betting, casino games and pokers games.

Additionally PayGlobalOne cannot condone the trade of items or support of organisations that promote hate, violence, or racial intolerance. Therefore, PayGlobalOne will judiciously disallow organisations that promote or glorify hatred, violence, or racial intolerance from using PayGlobalOne to send payments.

7. Receiving Payments

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 PayGlobalOne with respect to the transmission of his/her funds.

7.2. A receiving payment Customer are subject to charge a commission fee first by PayGlobalOne. The fee amount or percentage are unseparateable agreements between Customer and PayGlobalOne when opening a merchant account.

7.3. Through the PayGlobalOne 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 unauthorised bank account.

7.5. It is strictly forbidden to receive payments as consideration for the delivery of:

    tobacco products,
    alcohol,
    prescription drugs,
    drugs and drug paraphernalia,
    firearms and ammunition,
    weapons and knives,
    satellite and cable TV descramblers,
    porn and hardcore content or services,
    government IDs and licences,
    unlicenced lotteries,
    stored value cards or pre-paid debit cards, if they are not associated with a single vendor and don't have a dedicated use, illegal
    multi-level marketing and pyramid selling services as well as
    illegal downloads or any other goods and services infringing intellectual property rights of a third party.

Furthermore, it is strictly forbidden for citizens or residents of the United States of America, Turkey, China, Malaysia or Indonesia to receive payments from websites offering gambling services such as sports betting, casino games and pokers games.

Additionally PayGlobalOne cannot condone the trade of items or support of organisations that promote hate, violence, or racial intolerance. Therefore, PayGlobalOne will judiciously disallow organisations that promote or glorify hatred, violence, or racial intolerance from using PayGlobalOne to receive payments. Furthermore, such organisations may not be listed on any website of PayGlobalOne customers, nor may any of PayGlobalOne customers websites advertise or support such organisations.

8. Redemption

8.1. Customer can request a withdrawal at any time by logging into his/her account and following the instructions in the 'my account' section.

8.2. PayGlobalOne is responsible to process the necessary payment instructions immediately after the carrying out of any checks that are reasonably required to prevent money laundering or fraud or to check whether the holder of the e-money is a person who is entitled to redeem it.

8.3. In case the Customer chooses to be paid via bank transfer, the Company pays the proceeds of redemption by electronic transfer to an account with a bank or other financial undertaking nominated by the Customer. The Company deducts the applicable fee for the redemption from the Customers' account.

8.4. PayGlobalOne makes best efforts to ensure that the funds reach Customer's account within five business days of the day on which it gave the instructions. It will not be regarded a breach of this clause, if the failure of the funds to reach Customer's account in time is caused by a failure outside the Company's control on the part of any third party that is involved in the funds transfer.

8.5. All redemption fees are set forth in a separate Fee Schedule published at any time on this web site being subject to change at PayGlobalOne's discretion. The company reserves the right to charge a correction fee if wrong or incorrect payment details were provided or if a redemption failed or was impeded due to any other reason not caused by PayGlobalOne (e.g. returned or cancelled cheque, payment returned by recipient's bank).

9. Other

9.1. Customer is solely responsible for the instructions given to PayGlobalOne and for this reason PayGlobalOne may not be able to detect errors in Customer's payment instructions.

9.2. Customer should note that all payments made are final and not reversible once the recipient has received the payment sent by PayGlobalOne in accordance with Customer's instructions. PayGlobalOne cannot arrange for funds to be given back to Customer where Customer believes the payment was made in error.

9.3. Where Customer disputes a transaction with another party, PayGlobalOne will not enter into the dispute in any way other than to confirm that the payment was made in accordance with the instructions Customer gave to the Company.

9.4. Customer acknowledges that the Financial Services Compensation Scheme (FSCS) does not apply to funds stored on his/her PayGlobalOne account and that there is no other voluntary or compulsory scheme in which PayGlobalOne is a member that compensates holders of e-money issued by PayGlobalOne in case the Company becomes unable to satisfy claims against it in relation to e-money.

9.5. All website designs, text and graphics, and their layout and arrangement and all intellectual property rights therein are the property of PayGlobalOne. Any use of web site materials, their reproduction, modification, distribution or republication without express prior written consent is strictly prohibited.

10. Fees

Customer is responsible for the payment of all applicable fees. Current fees are indicated on PayGlobalOne's web page. If Customer is unclear as to any applicable fee, he/she should contact the Company's customer service department. All fees are due immediately and are subject to change at any time at PayGlobalOne's sole discretion following the procedure as set forth in paragraph 1.1.

11. Termination

Customer may close down his/her account at any time by giving notice to Company's customer service department. The Company at its sole discretion, reserves the right to close an account of any Customer at any time for any or no reason upon 1 week notice to the Customer and payment of any unrestricted funds held in custody. PayGlobalOne has the right to immediately close down a Customer account by giving notice if there are valid grounds. Valid grounds are assumed under, but not limited to the following circumstances:

    a violation of any applicable law or regulation,
    breach of any of these Terms of Use,
    if there are reasons to believe that the account has been used in connection with unauthorised or unusual credit/debit card or bank account use, including without limitation, notice of same by Customer's bank or credit/debit card issuer,
    in case of abuse of the reversal or charge back process provided by Customer's bank or credit/debit card company,
    receipt of potentially fraudulent funds,
    to comply with money laundering or other investigations conducted by government authorities, agencies or commissions,
    return of a payment for insufficient funds in the bank account.

12. Warranties, Liabilities and Disclaimers

12.1. Customer undertakes not to make use of the PayGlobalOne Service for or in connection with goods and services as described in section 6.6. and 7.5. of this Agreement and any illegal purpose or criminal activity of any nature (e.g. fraud, money laundering, child pornography) and undertakes not commit any other breach of these Terms of Use. PayGlobalOne will report any suspicious account activity to the relevant law enforcement authority. PayGlobalOne reserves the right to apply at its sole discretion prevention and detection procedures and suspend and freeze accounts or refuse the execution of transactions if there are reasonable grounds to suspect that an account is being or may be used in connection with any of the above or if governmental authorities require so. PayGlobalOne may at its sole discretion assert reasonable handling expenses the Company incurs by a Customers' misuse of the Service and/or breach of these Terms of Use.

12.2. Customer undertakes not to make use of the PayGlobalOne Service for or in connection with any money changing or transmitting business, including but not limited to bureaus de change, e-currency exchanges, purchase of travel money. PayGlobalOne reserves the right to apply at its sole discretion prevention and detection procedures and suspend or freeze accounts or refuse the execution of transactions if there are reasonable grounds to suspect that an account is being or may be used for such purposes. A handling fee can be applied at PayGlobalOne's sole discretion in stopping and/or reversing said transactions.

12.3. IT IS PayGlobalOne's ASSUMPTION THAT CUSTOMER IS SIGNING UP FOR A USER ACCOUNT ONLY AFTER DETERMINING THAT OPENING AND MAINTAINING SUCH ACCOUNT VIOLATES NO LAWS OR REGULATIONS IN THEIR RESPECTIVE COUNTRY AND JURISDICTION. Customer warrants that he/she is not violating any law or regulation by his/her use of PayGlobalOne, and Customer indemnifies the Company for any and all liability that might arise from his/her use of the Service.

12.4. PayGlobalOne shall make reasonable efforts to ensure that all debit and credit transactions are processed in a timely manner. However, a number of factors, several of which are outside of PayGlobalOne's control such as processing time in the banking system or the mail service, will contribute to when the funds are received. The Company makes no representations regarding the amount of time needed to complete processing, nor shall the Company be liable for any actual or consequential damages arising from any claim of delay. Furthermore, PayGlobalOne makes no representations or warranties as to continuous, uninterrupted or secure access to the PayGlobalOne Service, which may be affected by factors outside of PayGlobalOne control, or may be subject to periodic testing, repair, upgrade or maintenance.

12.5. PayGlobalOne will not be responsible for any claim unless it has been caused by negligence, wilful default or fraud. In particular, the Company shall in no way and under no circumstances be liable for any damages or losses, including, without limitation, direct, indirect, consequential, special, incidental or punitive damages deemed or alleged to have resulted from or caused by but not limited to the following scenarios:

    payments made to unintended recipients or payments made in incorrect amounts due to the input of incorrect information by senders,
    payment made by a third party who passes all identity and verification checks,
    any fraud, deception or misrepresentations by Customer, whether or not the Customer is verified in any manner,
    any damages resulting from a recipient's decision not to accept a payment made through PayGlobalOne,
    any errors or omissions in the website content,
    the misuse of the website content or the inability of any person to use the site,
    delays, losses, errors, or omissions resulting from failure of any telecommunications or any other data transmission system and the failure of the central computer system or any part thereof,
    any result of any acts of government or authority, any act of God or force majeure.

12.6. PayGlobalOne's Service is limited to providing Customer with a payment facility and does not ensure the quality, safety or legality of the transaction Customer is undertaking. The Company does not have any responsibility for any goods or services for which Customer pays using the PayGlobalOne Service and will not be liable for any charges, taxes or other duties in relation to such goods or services.

12.7. Customer agrees to release, indemnify, and hold the Company harmless against any claim brought against the Company by a third party resulting from Customer's use of PayGlobalOne payment Services in respect of all losses, actions, proceedings, claims, damages, expenses or liabilities whatsoever suffered and howsoever incurred by PayGlobalOne in consequence of Customer's non observance or breach of these Terms of Use.

12.8. A bank transfer, direct debit, credit card or any other payment first received by PayGlobalOne or a merchant of PayGlobalOne from a Customer and then returned to the originator for any reason - whether upon his own request or by request of his bank or payment provider - will incur an administration/chargeback fee of up to EUR 25 per transaction.

13. Governing Law and Legal Disputes

13.1. For disputes, claims or to report account discrepancies, Customer shall contact PayGlobalOne's customer service department.

13.2. The Financial Ombudsman Service applies to PayGlobalOne's e-money scheme. Customer may refer complaints that are eligible to be referred to the Financial Ombudsman Service to the Financial Ombudsman if a matter cannot be resolved in accordance with PayGlobalOne's standard complaint handling procedures. Information regarding our internal complaint handling procedures and the Financial Ombudsman Service can be requested by contacting PayGlobalOne's customer service department.

13.3. The Customer and PayGlobalOne shall keep confidential and not use for any collateral or ulterior purpose the subject matter of any arbitration and all information, documents and materials produced for, or arising in relation to, any arbitration including any award arising out of it except in so far as is necessary to implement and enforce any award or otherwise as required by law.

14. General

14.1. PayGlobalOne and Customer shall both comply with all applicable laws, contracts and applicable licences regarding respectively the use and provision of the Services provided by PayGlobalOne.

14.2. PayGlobalOne 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 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.

14.3. Customer acknowledges that following the procedure as set out in paragraph 1.1. these Terms 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. These Terms of Use constitute the entire 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 of Use and the online version at www.PayGlobalOne.com the online version will prevail.

14.4. PayGlobalOne's failure to exercise or enforce any right under these Terms of Use shall not be deemed to be a waiver of any such right or prevent PayGlobalOne from exercise or enforcement thereof at any time.

14.5. Customer may not transfer any rights or obligations he may have under this Agreement without PayGlobalOne's prior written consent. PayGlobalOne reserves the right to transfer this Agreement and all rights or obligations under this Agreement without Customer's consent.

If the Customer wishes to become a Merchant and/or use the PayGlobalOne Merchant Gateway Service he/she is asked to contact cs@PayGlobalOne.com. For information about Merchants and the PayGlobalOne Merchant Gateway Service please see the Merchant Services section on our website - www.PayGlobalOne.com.