The following terms and conditions are of great importance as they define your rights and obligations to access and use the www.moneychain.com.au website (“Website”), software applications running on mobile devices such as smartphones, tablets, and services as defined below (“Services”).
The website and application are owned and operated by MoneyChain Pty Ltd (ABN 14 139 997 032), its subsidiaries and affiliates (“MoneyChain”, “us”, “our”).
Please read these terms and conditions carefully and our Privacy Policy. By accessing or using the Website and Applications, you are deemed to agree to be bound by these Terms. If you do not agree to these Terms, you must immediately stop accessing and using the Website and Applications.
Your right to access and use the Website and Applications will be terminated immediately if you violate any of these Terms and Conditions.
Please note that all information and content (“Content”) provided on the website and the application will be updated frequently.
We may modify these Terms and Conditions at our sole discretion, so we recommend that you review these Terms and Conditions every time you use the Site and the App. The revised terms and conditions shall be effective from the date of their publication on the website and the application. By continuing to use the Site and Applications, you accept the revised terms and conditions.
1. About our services
1.1 Foreign Exchange Services
We are a money transfer service company headquartered in Australia (AUSTRAC Registration Number: IND100228861-001).
We provide foreign currency remittance services to individual and corporate clients (“you”, “your”). We transfer a currency to your designated payee (“payer”) at the agreed exchange rate at your request.
We offer a variety of currencies, including Australian Dollar (AUD), USD (USD), Euro (EUR), Hong Kong Dollar (HKD), Japanese Yen (JPY), New Zealand Dollar (NZD), Renminbi (CNY), etc.
Whether you are eligible for a specific product or service depends on MoneyChain's final decision and acceptance. MoneyChain may stop or change the information, products or services described here at any time.
1.2 No financial advice provided
We do not provide general or personal financial, investment or other advice. Information on the Website and Applications should not be construed as establishing any trust, financial or other relationship between MoneyChain and you. If you need financial advice, you must seek specific advice that suits your personal circumstances.
No statement or comment constitutes advice to you that you are suitable for taking some action. Nothing on this website or on the application constitutes an offer to you.
1.3 External links
Websites and applications may contain links to other websites that are not controlled by MoneyChain. We are not responsible for the content of any externally linked website and make no representations or warranties about any externally linked website. Linking does not mean endorsement, sponsorship or association of MoneyChain, nor does it imply any relationship between MoneyChain and the linked organization.
2. Qualifications
To use our services, you must:
at least 18 years of age and without legal disability or capacity for conduct;
Be able to enter into binding contracts with us and not be prohibited by any applicable law;
If you are a politically sensitive person or their immediate family, please let us know;
and use the Service for legal purposes.
If you, whether an individual or a corporate client, authorizes any other person (the “Author”) to act on your behalf, we will rely on instructions received from your licensor and you will be subject to these instructions unless you revoke the authorization of that licensor. If you intend to revoke or change this authorization, you must notify us in writing at least 24 hours in advance.
3. Register an account
To create an account ("MoneyChain Account"), you need to provide the required identity information. After registering an account, you will get a unique username and password ("Login Information") to log into your account.
3.1 Authentication
In order to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and other affiliated directives (“AML/CTF Laws”), we need to obtain, verify and record your identity information. Please refer to the Privacy Policy to learn how we collect and use your information. We reserve the right at any time to request additional information or documents to verify your identity and/or comply with regulatory or third-party requirements.
In the event of failure to provide such information or we are unable to verify the accuracy of the information provided, we reserve the right, in our sole discretion, to deny your use of our Services, to suspend your MoneyChain account, to revoke your login information, and/or to take any other actions we deem appropriate.
You must provide us with accurate, complete and up-to-date information. It is your responsibility to notify us of any changes in your information or circumstances.
3.2 Login information management
In no event, you agree to:
Your MoneyChain account can only be used by you;
You are solely responsible for keeping your login information safe and confidential and will not disclose it to any third party;
You are solely responsible for all activities conducted through your MoneyChain account;
MoneyChain has the right to assume that anyone using your MoneyChain account is you, and shall not be liable for abuse or unauthorized access, and shall not be liable for any loss arising from any abuse or unauthorized access;
Any violation of these terms and conditions under your login information will be deemed to be your breach;
If you know or reasonably suspect that your login information is lost, stolen, abused, or unauthorized use, you must notify us in writing immediately.
3.3 License grant
On the basis of our final acceptance, you are granted a non-exclusive, limited and non-transferable license to use and access our Services. You agree not to modify, copy, reproduce, sell, transmit, perform, publish, license, transfer or create derivative works of any information, software, and services in our website and applications. You may not upload, store or transmit any spam or any malicious code or viruses.
You cannot create multiple MoneyChain accounts. You acknowledge that you cannot transfer or transfer your MoneyChain account to any other party.
4. Place an order
4.1 Legal Binding
We accept your orders through our apps, phone calls, emails, messaging apps or in-store. By placing an order, you give us instructions to make a transaction. Transactions are legally binding on you from the time we receive your instructions under this clause 4. Once the transaction is legally binding, you may not terminate the transaction.
4.2 Fund ownership
You must be the beneficial owner of any funds you intend to transfer. We may reasonably require you to provide proof of ownership of funds.
4.3 Order online
To place an order, you must follow the user manual in our application step by step. You can correct the information at any time before clicking the "Confirm" button. Once you click Confirm, you need to check the information you provide. It is your responsibility to ensure that all details are complete and accurate before clicking the Submit button.
The transaction is legally binding on you every time you confirm the order details on the screen.
4.4 Order by phone
You must contact the phone number published on our website to place an order. The transaction is legally binding on you at the end of the call.
We may send you a confirmation email with order details. Confirm emails are for correction purposes only. If there are any errors, you must contact us within 24 hours of receiving the email. Otherwise, the order details in the email will be considered correct.
4.5 Order by email
If you wish to place an order by email, you must make sure to send it to our company’s email account. Transactions are legally binding on you when we process your emails.
We may send you a confirmation email with order details. Confirm emails are for correction purposes only. If there are any errors, you must contact us within 24 hours of receiving the email. Otherwise, the order details in the email will be considered correct.
4.6 Order through the Message Application
If you place an order through the Messages app, the transactions on the order are legally binding on you when you provide all order details.
We may send you a confirmation form with order details. The confirmation form is for correction purposes only. If there are any errors, you must contact us immediately upon receipt of the confirmation form. Otherwise, the order details in the confirmation order will be considered correct.
4.7 Order in the store
If you place an order in our store, the transaction of the order is legally binding on you when you complete the Payee Account Form.
We may provide you with confirmation form with order details. The confirmation form is for correction purposes only. If there is any error, you must notify us immediately at the counter or the transaction details in the confirmation form will be considered correct.
4.8 Accurate and true information
For each order you place with us, you must make sure that the details in the order are accurate and authentic in all respects. Detailed information includes but is not limited to the total transaction amount, your details and the payee's bank details. We will not check the details for you and will not be liable for any losses resulting from incomplete and/or inaccurate details provided to us. Under these Terms 4 and 7.1, you will generally be unable to change any details contained in the order once the order is submitted. You may not use our Services in a fraudulent manner.
4.9 Foreign exchange quotes
You acknowledge that the foreign exchange rate provided at your request does not constitute an offer. We are not obliged to accept your offer unless both you and MoneyChain agree.
4.10 Don't send money to strangers
You agree that you will only use our services to send money to people you know in person. You agree not to send money to strangers.
5. Transaction amount limit
Online orders may be subject to the maximum transaction amount, i.e. you cannot send more than the specified amount in an online transaction. However, unless otherwise specified, this limitation does not apply to orders placed in the store, via phone, email, or messaging applications. These limitations may change at any time at our sole discretion.
6. Exchange rates, fees and charges
We reserve the right to change fees and charges.
6.1 Exchange rate
Currency exchange rates always fluctuate. You must note that exchange rates on the website and app are for reference only and may change when placing orders or quotes via phone, online, messaging apps, or in-store due to exchange rate fluctuations.
The agreed exchange rate between you and MoneyChain will apply to the order.
6.2 Service Fee
We charge small fixed service fees for certain transactions. This service fee is a separate fee and does not constitute part of your redemption funds and will be paid for every transaction.
6.3 Other fees or charges
These include, but are not limited to:
International bank transfer fee: May be deducted from the transfer amount. We have no control over this and are not responsible for such expenses.
Bank check fee: When you choose to withdraw available funds, we pay AUD 10 when issuing the bank check.
Company search fee: When a company search is required, you will be charged $22 per search.
7. Order confirmation
7.1 Error correction mechanism after submission
After you submit your order, we will send you an order confirmation. Order confirmation only provides an opportunity to correct errors. If you place an order in the store or through the Messages app, you will receive a confirmation order. You must immediately view the confirmation form and notify you of any changes you wish to make. For orders placed by other means, if you wish to make changes, you must contact us within 24 hours of receipt of the order confirmation. Otherwise, the order details will be considered accurate.
7.2 Acceptance or rejection of orders is at our sole discretion
We reserve the right to accept or reject any orders we receive in our sole discretion.
8. Payment and collection
8.1 Principal and service fees must be paid in full
Before we perform a transaction, you must transfer the entire principal amount you wish to redeemed and any service charges or third-party fees to our designated bank account. Please note that funds must be received before we transfer the funds to your payee’s account. We reserve the right to requote exchange rates.
8.2 Payee Account Details
You must provide us with complete details of the payee’s account, including the payee’s bank details, identification documents, full name and address. We rely on you to provide the correct bank account details. We will not assume any responsibility if any payment is not received due to incorrect bank information provided by you. You must notify us immediately if there is any change in the payee's account details.
8.3 No interest payment
You acknowledge that you will not receive interest or other benefits from any funds held by us.
8.4 Processing time
The transaction will be processed within 1-3 working days, depending on clause 8.1. It may take longer to actually receive the money transferred to your designated payee account, as it depends on the intermediate bank involved.
8.5 Cash payment and collection
Cash payments and collections are only applicable to in-store transactions. We accept up to AUD 10,000 or equivalent cash payments per person per day. Your cash collection is up to AUD 9,900 per transaction per day or equivalent foreign currency.
9. Your right to cancel
Once you place an order with us and the transaction is legally binding on you (see Term 4 for more information), you cannot cancel or terminate the transaction. Once we receive your order, we will start processing transactions, including the purchase of currency.
If you breach any obligation (including the events set forth in clause 10.1) and we terminate or cancel the transaction as a result, you will be responsible for the amount lost. Please refer to clause 10.4 for details on “Pay Loss”.
10. Our right to refuse, suspend or cancel
10.1 Event
You acknowledge and agree that we may refuse, suspend or cancel any or all transactions with us without prior notice to you in the event of any of the following:
You failed to send us the full principal amount on the due date;
You have failed to provide important information at our request, including your source of funds, transfer purposes, etc.;
If we reasonably suspect that any documents or information you provide are inaccurate or misleading;
If our performance of obligations under these Terms and Conditions becomes or may become illegal;
If bankruptcy or liquidation proceedings are initiated against you;
In the event that you die or lose your mental power;
You fail to comply with one or more of the terms and conditions;
There is an unresolved dispute between you and us; or
When we think it is necessary to do so.
10.2 Notice of breach
If you are aware of any events mentioned in clause 10.1, you must notify us immediately.
10.3 Consequences
In the event of any event mentioned in clause 10.1, we have the right to:
Refusing to continue trading;
Suspend any orders being processed;
Cancel any unfinished orders;
Close any or all of your transactions; and
Charge you the amount of loss.
10.4 Loss payment
The amount of loss includes losses incurred between the purchase and repurchase currency, service fees, and any other fees/charges incurred by us or third parties incurred by your transactions.
The amount of loss will be your liquidation compensation to us and shall be paid to us within 7 calendar days after our request. If we hold funds for any of your transactions, we will deduct the total loss amount. If it is not paid or is not paid in full, we are also entitled to recover any unpaid amounts from you. If we have the right to recover losses, we have the right to recover losses from you as a debt, and you shall pay our expenses for recovery of losses, including interest and legal fees.
10.5 Interest
You acknowledge and agree that we may charge interest on any amounts that have not been paid after we close any or all of your transactions. Interest rates are calculated based on the Reserve Bank of Australia's benchmark interest rate plus 2%. Interest is calculated on a daily basis and is calculated from the date of closing the transaction to the date of your full payment.
10.6 Refund to the same account
Refunds are only made after your written request. For your safety, refunds can only be returned to the same account from the payment source.
11. Fund transfer
11.1 Errors you made
We rely on you to provide the correct bank account details. If funds are sent to the wrong account you provide as directed by you, we will not be responsible for recovering funds or resending funds to the correct payee account. You need to place your order again.
11.2 Errors we make
If your funds are sent to the wrong account due to our error, we will take emergency action at our own expense to recover the funds, provided that you immediately assist. This will be our entire responsibility to you.
11.3 Overpayment
If we send you more than the amount you should receive, it is obviously caused by technical or human error and this is not binding on us. You must notify us immediately upon discovering an error and refund the difference between the actual amount paid and the amount we pay.
12. Legal use
You shall not violate the terms and conditions or any applicable laws, regulations, contracts or regulations when using our services. The use of this Service is prohibited for any of the following activities that are deemed to be a violation of the terms and conditions, including but not limited to: pornographic materials or services; gambling activities; fraud; money laundering; support for terrorist activities; purchase and sale of tobacco, military weapons, drugs or other controlled substances; or remittance to any recipient who violates the terms and conditions.
If you use the Service for any illegal act, we have the right to report it to the relevant law enforcement agencies. If you suspect that a transaction is used for purposes prohibited by these Terms and Conditions, we and/or our partner institutions have the right to cancel the transaction and close your account at its sole discretion. You acknowledge that you are responsible for breach of the Terms and Conditions of Use of the Service.
13. Limitation of Liability
13.1 No responsibility for delays
While we will make reasonable efforts to ensure timely transfer of funds, delays may occur beyond our control. This includes the ineffective account details you provide, system or operational failures, technical or management issues encountered by the involved intermediate banks, delays caused by accidents or force majeure, etc.
We are not responsible for any losses or damages arising from delays in fund transfers.
13.2 No responsibility for technical issues
We are not responsible for any delay, inaccessibility, interruption or failure of the Website and Applications, and/or any loss or damage to any data.
We are not responsible to you or any other person if it causes interference or damage to your computer system due to the use of this website and/or the application. You must take precautions on your own to ensure that any content selected from this website is free of viruses or any other content that may interfere with or damage the operation of your computer system (such as worms or Trojans).
13.3 No responsibility for computer hardware or system
There are risks in using Internet-based transactions. This includes, but is not limited to, interference or damage to computer hardware operations, software failures, and disconnection of the Internet. Because we cannot control the configuration of your computer equipment or the reliability of its connection, we are not responsible for any failures that occur when trading over the Internet.
14. Guarantee and Compensation
14.1 Guarantee
If you choose to use or access our websites and applications, you agree that you do so voluntarily and at your own risk. We make no warranties or representations, express or implied, with respect to the Website and the Application or any of its content.
14.2 Compensation
You must indemnify and hold MoneyChain harmless to any claims or liability arising from your use or access to the Website and/or your or any third party in breach of the terms and conditions. This is an ongoing obligation that remains in effect even after the termination of the terms and conditions.
15. Intellectual Property
Our intellectual property rights, including but not limited to the copyright, trademark, patent, trade secret, logo, domain name and any other intellectual property rights of all content on the website and applications, are the exclusive property of MoneyChain. You may not display, use, copy or exploit any of our intellectual property rights for public or commercial purposes.
You agree that you will not use our intellectual property in a manner not expressly permitted by the terms and conditions; or use our intellectual property in a manner that may cause confusion or damage MoneyChain's reputation.
Your use and access to any of our intellectual property rights will not grant or transfer to you any rights, title or interest.
16. Privacy
We respect your privacy and process your information in accordance with our Privacy Policy. Your use of the website and applications is always subject to our privacy policy.
17. Complete Agreement
The Terms and Conditions and Privacy Policy and its amendments (if any) constitute the entire agreement between you and MoneyChain and supersedes any and all previous and contemporaneous understandings and agreements relating to the Services.
18. Translation
The terms and conditions are prepared in English and Chinese. If there is a conflict between the English version and the Chinese version, the English version shall prevail.
19. Jurisdiction
The terms and conditions are governed by the laws of New South Wales, Australia.
20. Explanation and definition
20.1 When used in these Terms and Conditions or in any affiliated document, unless otherwise required by the subject or context, the following terms shall have the following meanings:
20.1.1 “Loss Amount” has the meaning given in clause 10.4;
20.1.2 “Author” means a person who has the right to bind you under these terms and conditions;
20.1.3 “AUD” means Australian dollar;
20.1.4 “Practical Owner” means the legal owner of the assets, whether held directly or indirectly, including assets that may be held in the name of others, such as the Trustee;
20.1.5 “Working Days” means the days when we and the transaction bank are open, excluding Saturday, Sunday and public holidays in Australia;
20.1.6 “Close” has the meaning given in clause 10.3;
20.1.7 “Close Date” means the date on which any or all your transactions are closed;
20.1.8 “Exchange rate” refers to the price of one currency relative to another;
20.1.9 "Direct relatives" refer to a person's spouse, de facto partner, dependent children, legal guardian;
20.1.10 "Interest" has the meaning given in clause 10.5;
20.1.11 "Message Application" refers to a software program that allows customers to send and receive information, including but not limited to WeChat, WhatsApp, Signal, Facebook Messenger, SMS, etc.;
20.1.12 “MoneyChain Account” means the account we establish in your name for conducting and recording transactions;
20.1.13 "Political Sensitive Person" means an individual who holds or has held important public positions or functions in government agencies or international organizations within or outside Australia;
20.1.14 "Prime amount" refers to the amount you want to redeemed;
20.1.15 “Service” has the meaning given in clause 1;
20.1.16 "Terms and Conditions" means these Terms and Conditions and their versions revised from time to time and any attachments or referenced documents.
20.2 Words in the singular form include plural form and vice versa.
20.3 Words for male gender include female and neutral gender.
20.4 References to persons or individuals include legal persons, non-legal person associations, partnerships, trusts and individuals.
20.5 The insertion of the slicing and title of the terms and conditions is for convenience and reference only and does not affect the interpretation or interpretation of these terms and conditions.
