Terms and Conditions

Terms & Conditions | Part A: FX & Payments  

Afmoom Trading Pty Ltd ACN 663 026 846

This Part A governs the terms upon which FX Conversions and Payment Transactions may be entered into between you and us.  

1. Agreement 

By agreeing to establish an Account, you agree to be bound by Parts A and B of this Agreement.

2. Account 

  1. You must complete an Application to open an Account. 
  2. You must ensure all responses in the Application are accurate, complete and current. 
  3. We may refuse to provide you with an Account in our absolute discretion and without providing you with any reasons. 
  4. You are the only person who is authorised to use the Account and provide us with Instructions. You cannot appoint or otherwise authorise other persons to use the Account on your behalf.
  5. Money can only be added to your Account by any Approved Payment Method. We will credit your Account with funds received upon receipt of cleared and settled funds. 
  6. The Account can only support Supported Currencies. . If funds in another currency are transferred to the Account, we may return funds to the sender without incurring any Loss. 
  7. We may refuse to accept or may return any payment of money to the Account at our absolute discretion and will not be liable for any Loss you incur as a result of such refusal or return. 
  8. We may impose deposit limits on the Account from time to time. These may be published on our website or otherwise communicated to you from time to time. You must comply with such deposit limits. 

3. Instructions 

  1. You may provide us with the following instructions through the Account:  
  2. the transaction type (i.e. FX Conversion, Payment Transaction); 
  3. the transaction amount; 
  4. the beneficiary details; 
  5. your identification details; 
  6. any identification reference you would like to include with a payment instruction. 
  7. We are not obliged to act on any Instruction unless it has been validly submitted. We may also request that you provide us with further information or documentation in respect of any Instruction. 
  8. You are required to indemnify us for any Loss we incur as a result of any error you make in providing Instructions to us. 

4. Foreign Currency Exchange 

  1. We offer a foreign exchange conversion service (FX Conversion) where you can convert one currency to another currency. FX Conversions will only be available with Supported Currencies and made in connection with a Payment Transaction that is made immediately following the FX Conversion. 
  2. If you provide us with Instructions in relation to an FX Conversion, we may, through the Account, provide you with details outlining:  
  3. the FX Exchange Rate; 
  4. the funds you need to pay to us to undertake the FX Conversion (Pre-Conversion Funds); 
  5. the prescribed timeframe that you are required to deposit Pre-Conversion Funds  to your Account (Deposit Deadline); 
  6. the funds you will receive from the FX Conversion; 
  7. the period in which you may accept the FX Conversion Terms.  
  8. If, within the time period we specify, you indicate through the Account that you accept the FX Conversion Terms, then you will be bound by the FX Conversion Terms. In these circumstances, you will be required to transfer or otherwise deposit to us the relevant Pre-Conversion Funds due and payable in connection with the relevant FX Conversion within the Deposit Deadline. 
  9. If you do not deposit the required Pre-Conversion Funds within the Deposit Deadline, the FX Conversion Terms will immediately terminate and we will not be liable for any Loss you incur as a result of such termination.  
  10. Unless expressly set out in this Agreement, FX Conversion cannot be cancelled or reversed once the FX Conversion Terms have been accepted. 
  11. If FX Conversion Terms are not accepted within the time period we have specified, they will lapse and cannot be accepted. 
  12. We will not process any FX Conversion unless: 
  13. you have provided us with sufficient cleared Pre-Conversion Funds in the relevant source currency to cover the full amount of the FX Conversion; 
  14. the Pre-Conversion Funds  are received by us within the Deposit Deadline; and  
  15. the Pre-Conversion Funds are to be converted to a Supported Currency. 
  16. Subject to the terms of this Agreement, we will process and settle each FX Conversion immediately upon the later of: 
  17. your acceptance of the FX Conversion Terms; and
  18. us receiving cleared and settled funds in accordance with clause 4(g). 
  19. Notwithstanding any other provision of this Agreement, we may in our absolute discretion, delay, suspend, refuse to enter into, or cancel any FX Conversion at any time, including after you have accepted the relevant FX Conversion Terms. We do not accept any liability or responsibility for any Loss incurred or suffered by you in connection with such refusal or cancellation. 

5. Payment Transactions 

  1. If you provide us with Instructions in relation to a Payment Transaction, we may, through the Account, provide you with details outlining the payment and beneficiary information (Payment Transaction Terms). 
  2. You must carefully check the Payment Transaction Terms. 
  3. A Payment Transaction will be undertaken contemporaneously, or immediately following, an FX Conversion. 
  4. If you indicate through the Account that you accept the Payment Transaction Terms, then you will be bound by the Payment Transaction Terms. 
  5. We will not process any Payment Transaction unless: 
  6. you have provided us with sufficient cleared funds taking into account any fees or costs associated with the Payment Transaction; 
  7. provide us with beneficiary bank account details. 
  8. It is your responsibility to ensure that you provide us with correct beneficiary account details. We do not verify the beneficiary details and will not be responsible for any errors or omissions in the beneficiary account details you provide to us in connection with a Payment Transaction. 
  9. It is your responsibility to ensure that the beneficiary account or destination is denominated in or otherwise supports the relevant Supported Currency which is being transferred under the Payment Transaction.
  10. If a Payment Transaction is made in a Supported Currency and the beneficiary bank does not accept or otherwise accommodate the Supported Currency, then the beneficiary bank (or other intermediaries) may convert the Supported Currency to another currency which is compatible with the beneficiary bank account. The conversion may be subject to fees and charges, which will be deducted from the funds received by the beneficiary. 
  11. We are not responsible for any delays caused by a beneficiary bank in processing a Payment Transaction. We cannot guarantee that the beneficiary bank will make funds available to the beneficiary within any specific timeframe after it receives payment. 
  12. We are not responsible for any fees or charges imposed by third-party banks, intermediaries or other counterparties which are incurred in connection with a Payment Transaction. 
  13. We will not be liable for any loss of any funds, delays, damages, failures or errors which arise from a Payment Transaction, unless caused by our negligence, fraud or wilful misconduct.
  14. Notwithstanding any other provision of this Agreement, we may in our absolute discretion, delay, suspend, refuse to enter into, or cancel any Payment Transaction at any time, including after you have accepted the relevant Payment Transaction Terms. We do not accept any liability or responsibility for any Loss incurred or suffered by you in connection with such refusal or cancellation.  

6. Recalls 

  1. If you wish to recall a Payment Transaction which was made in accordance with your Instructions, we will use reasonable endeavours to assist you to recall the payment. 
  2. You agree to indemnify us for any Loss we incur in relation to any recall request. 
  3. You acknowledge and agree that we will not be liable in the event that a Payment Transaction cannot be recalled, including where the beneficiary of the payment is required to provide their consent to the recall and refuses to do so. 
  4. If funds subject to a Payment Transaction: 
  5. are successfully recalled; and 
  6. the money returned from the call is not denominated in a Supported Currency, then we may convert the funds into a Supported Currency. Any fees or charges incurred in converting the funds will be deducted from the amounts which are returned to the Account. 

7. Reversals 

  1. We may, without notice, reverse a Payment Transaction in certain circumstances, including where we reasonably suspect that the Payment Transaction involves fraud or other suspicious or illegal activities. 
  2. If a Payment Transaction is reversed, then we may at our absolute discretion, convert funds which are subject to the reversal into a Supported Currency if they are denominated in another currency. Any costs or charges which are incurred in administering the currency or conversion will be deducted from the amounts provided to you. 
  3. You agree to indemnify us for any Loss we incur in relation to any payment reversal or removal of funds. 
     

Terms & Conditions | Part B: General 

Afmoom Trading Pty Ltd ACN 663 026 846
 

1. Interpretation and definitions

    In this Agreement unless the contrary intention appears:

  1. Account means an account held by you with us and accessed through our mobile application or website.  
  2. Application means the application submitted by you to establish an Account.  
  3. Approved Payment Method means any payment method offered by us from time to time to fund your Account, and includes bank transfer and card payment methods.  
  4. Claim means any claim, action, proceeding, demand, cost, damage, loss, expense (including reasonable legal costs on a full indemnity basis), liability incurred or suffered by, or brought or made or recovered against any person and however arising (whether or not presently ascertained, immediate, future or contingent).
  5. Consequential Loss means any indirect, special, consequential, punitive or exemplary damages, expenses, losses or costs, loss of anticipated or actual revenue or profits, loss of or inability to use equipment, a failure to realise anticipated savings, lost data, down time costs or loss of goodwill.
  6. Corporations Act means the Corporations Act 2001 (Cth) as amended from time to time. 
  7. Fees means the fees and charges payable by you to us in relation to each Transaction, as specified in the Fee Schedule. 
  8. Fee Schedule means any fee schedule published on our mobile application and website which sets out the Fees payable in respect of our Services.   
  9. FX Exchange Rate means, in relation to an FX Conversion, the exchange rate quoted in the FX Conversion Terms to make the FX Conversion. 
  10. FX Conversion Terms means, in relation to an FX Conversion, the terms of the FX Conversion as stated in clause 3(b) of Part A. 
  11. GST means any tax imposed on the supply of goods or services which is imposed or assessed under GST Law. 
  12. GST Law means A New Tax System (Goods and Services Tax) Act 1999 (Cth). 
  13. Insolvent means, for a person, being in liquidation or provisional liquidation or under administration, having a controller (as defined in the Corporations Act) or analogous person appointed to any of its property, or being unable to pay debts as and when they fall due or entering into a compromise or arrangement with its members or creditors or any other analogous event. 
  14. Instruction means any information referred to in clause 3 of Part A. 
  15. Law means the statutes, regulations and general law of Australia, as varied from time to time.  
  16. Loss means any damage, loss, cost, charge, expense or liability however arising (including contractual, tortuous, legal, equitable loss or loss pursuant to statute). 
  17. Payment Transaction means a payment you instruct us to make on your behalf to a third-party account held with another institution. 
  18. Services means the FX Conversion and Payment Transaction services offered by us in accordance with Part A of this Agreement.  
  19. Supported Currencies means each currency approved by us from time to time that may be used in an FX Conversion or Payment Transaction. 
  20. Transaction means an FX Conversion or Payment Transaction, as the context requires. 
  21. we or us means Afmoom Trading Pty Ltd ACN 663 026 846 trading as Bless Payments.  

2. Exclusions and limitations 

  1. You acknowledge and agree that we will bear no responsibility:  
  2. for failing to accept any Transaction or Instruction; 
  3. for any Loss you incur from any delay in the transmission or wrongful interception of any Transaction or Instruction through the Account; or  
  4. for any Loss you incur as a result of us not receiving any Instruction, whether as a result of any failure or delay of the Account or otherwise.  
  5. We need not enquire as to the validity of Instructions received from the Account, including whether the person providing Instructions is in fact the person he or she purports to be or whether the person otherwise has authority to provide Instructions in respect of the Account.   

3. Transactions 

  1. We enter into Transactions as principal. 
  2. You agree that you will enter into Transactions as principal and not as agent on behalf of any other party. 
  3. Our obligations under this Agreement are solely to you. We do not accept any duties, obligations or responsibility to any other party, regardless of whether we are made aware of such third-parties. 
  4. Our records as to Transactions entered into with you shall be final and conclusive, absent manifest error. 

4. Fees  

  1. You agree to pay us the Fee in respect of each Transaction. The Fee will be denominated in AUD unless otherwise specified.  Fees are payable and deducted from the settlement proceeds of each Transaction. 
  2. You agree to pay, or reimburse us if we pay on your behalf, any taxes, duties, charges or expenses which are imposed on or otherwise payable in relation to each Transaction.   

5. GST

  1. Unless otherwise specifically stated, sums payable or consideration provided under this Agreement will be expressed as being exclusive of any applicable amount of GST. 
  2. Where a party (supplier) makes a taxable supply to a person (recipient) under on in connection with this Agreement and GST is imposed on that supply, the supplier will be entitled to: 
  3. increase the consideration otherwise payable by the recipient for that supply under this Agreement by the amount of that GST; and 
  4. otherwise recover from the recipient the amount of that GST. 
  5. The supplier must issue a tax invoice to the recipient no later than 5 Business Days after payment to the supplier of the GST inclusive consideration for that supply. 
  6. Words or expressions defined in the GST Act has the same meaning in this clause 5 unless otherwise defined in this Agreement. 

6. Services 

  1. Our Services are provided on an execution-only basis. You are responsible for any Instructions you provide to us. 
  2. Our Services are provided on a general basis and without any recommendation as to whether they are appropriate or suitable to you. You acknowledge and agree that you bear the sole risk and responsibility in relation to any Transactions entered into by you under this Agreement. 

7. Termination 

  1. Each party may terminate this Agreement upon providing notice to the other party.   
  2. Termination of this Agreement does not affect any obligations incurred on or prior to the date of termination. 
  3. Clauses 7, 9 and 10 of Part B of the Agreement are continuing obligations and will survive the termination of this Agreement.

8. Privacy 

We will collect, handle and use your personal information in accordance with our Privacy Policy, which is available upon request. Our Privacy Policy contains important information about the purposes for which we collect personal information, the entities to which we may disclose the information we collect (including any overseas disclosures that we may make), how you can access and seek correction of the personal information we hold about you or how you can make a complaint about our handling of your personal information. 

9. Warranties 

  1. You represent and warrant to us that: 
  2. you are capable of assessing the merits of and understand and accept the risks and terms and conditions of any Transaction;   
  3. you will not enter into any Transaction for an unlawful, fraudulent or improper purpose; 
  4. you will not use the Services for trading or speculative purposes; 
  5. you are not relying on any communication (whether written or oral) made by or on behalf of us as investment advice or as a recommendation to enter into a Transaction;  
  6. you are not Insolvent; 
  7. you have the capacity and authority to enter into and be bound by the terms of this Agreement; and 
  8. your entry into or performance of your obligations under this Agreement will not infringe any Laws or agreements to which you are a party. 
  9. You repeat the warranties in clause 9(a) each day during the period in which you engage us to provide the Services.  
  10. To the maximum extent permitted by law, we do not give any express warranty in relation to the Services, including that they will be suitable, of merchantable quality or fit for any particular purpose. 
  11. We do not give any implied warranties in relation to the Services, except for those implied under law which cannot be excluded by contract.

10. Liability 

  1. To the maximum extent permitted by Law, our  aggregate liability to you for any and all Claims arising under or in connection with this Agreement, whether caused by or related to a breach of contract, statute, tort (including negligence) or otherwise, will not exceed an amount equal to:  
  2. where  the Claim is caused by our fraud, negligence or wilful misconduct, $2550,000 (AUD); and 
  3. otherwise, the Fees paid by you to us in respect of the Services in the preceding 12 month period. 
  4. For the purposes of clause 10(a), where the Claim arises within 12 months, the Fees paid in the period leading up to the date of the Claim will be adjusted pro-rata to a 12 month period, as applicable. 
  5. In no event will we be liable to you in any circumstance for any Consequential Loss you suffer or are otherwise entitled to in relation to any Claim you may have against us under or in connection with this Agreement. 

11. Miscellaneous 

  1. This Agreement is governed by the laws in force in Western Australia and the parties submit to the non-exclusive jurisdiction of the courts in that jurisdiction. 
  2. We can unliterally vary the terms of this Agreement by providing you with 30 days’ notice of the variation. The variation may come into effect after the notice period expires or at a later date specified in the notice. You agree to any variation by continuing to use the Services the date the variation takes effect.
  3. If any term in this Agreement is unenforceable, illegal or void then it is severed from this Agreement and the rest of the Agreement remains in full force. 
  4. We may provide you with notice in relation to this Agreement electronically, which includes emailing you, publishing a notification on our mobile application or website or by posting a written notice to your registered address. You will be deemed to have received the notice at the same time we post or send the communication. You may provide us with notice in relation to this Agreement by emailing us at hello@blesspayments.com.au.