TERMS & CONDITIONS - PERSONAL

CURRENCY SOLUTIONS LIMITED'S FRAMEWORK TERMS FOR CONSUMERS RELATING TO FOREIGN EXCHANGE AND PAYMENTS

LAST UPDATED: 01 March 2024

1 INTRODUCTION TO CURRENCY SOLUTIONS LIMITED, INFORMATION ON HOW TO CONTACT US AND ON HOW WE WILL CONTACT YOU

1.1 We are Currency Solutions Limited. When reference is made to "we", "us" or "our" in these Terms, this means Currency Solutions Limited, a private limited company in England and Wales (company number: 04864491) with its head office and registered address at Hobbs Court, 2 Jacob Street, London, SE1 2BG, United Kingdom. We operate our website at https://www.currencysolutions.com/. 1.2 How you can contact us: Write to us:   Hobbs Court, 2 Jacob Street, London, SE1 2BG, United Kingdom Call us:          +44 0207 740 0000 or using the number of your dedicated relationship manager. Email:            service@currencysolutions.com or by using the email address of your relationship manager if you are an existing client. 1.3 We are authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number 512130) for the provision of payment services. This Agreement covers the payments and unregulated foreign exchange side of our business. 1.4 In addition, we are authorised and regulated by the Financial Conduct Authority to provide investment products and services (Firm Reference Number 602082). You are not able to use the investment side of our business without first being onboarded as an investment client and agreeing to our investment business Terms and conditions, which are separate to these Terms. Please contact a member of our staff if this is a requirement of yours. This Agreement does not cover the investment side of our business. 1.5"You" and "your" in these Terms means you, being the individual(s) that wishes to use our services and has therefore agreed to these Terms and satisfied our onboarding requirements. Please note that you must be over 18 to use our services. 1.6 How we can contact you: Write to you:   The address you provide us with when being onboarded as a client, as same is updated by you from time to time. Call you or text you:   The telephone number you provide us with when being onboarded as a client, as same is updated by you from time to time. Email you:   The email address you provide us with when being onboarded as a client, as same is updated by you from time to time. In the event of security threats or fraud:   We will contact you via telephone and/or email (depending on the circumstances) using the details set out in this table. It is essential that you notify us as soon as any of your contact details change. You can do this by calling us or via the online platform. We will not be liable for any losses you incur as a result of your contact details having changed, where you have failed to inform us that they have changed. 1.7 All communications between you and us shall be in English only.

2. DO THESE TERMS APPLY TO YOU, IF NOT WHICH TERMS DO?

2.1 The entirety of these Terms apply to you if one of the circumstances in sub-paragraphs (a), (b) or (c) applies: a. You are based in the United Kingdom; b. You are based in a country which is part of the European Economic Area ("EEA") and we confirm to you that we are happy to onboard you as a reverse solicitation client; or c. You are based in a country other than the United Kingdom, the United States of America (the "USA") or a country which is part of the EEA. 2.2 If these Terms apply to you because you fall within paragraph 2.1(b) or 2.1(c), then you confirm by entering into these Terms that you approached us to use our services on your own exclusive initiative. 2.3 If paragraph 2.1(b) does not apply to you and you are based in the EEA, then clause 3 ( Information on these Terms ) to 14 (complaints) of these Terms will not apply to you, instead:  a.  (We will act as an introducer to Currencycloud B.V. ("Currencycloud EEA"). Currencycloud EEA is:   1.  A company registered in the Netherlands with company no. 72186178 with registered office at Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam;   2.  Authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701); and  b.  You will be subject to the Terms of Currencycloud EEA, which can be found using the following weblink (https://onboarding.paydirect.io/currency_solutions/Terms_and_conditions). 2.4 If you are based in the USA then clause 3 (information on these Terms) to 14 (complaints) of these Terms will not apply to you. Instead:  a. We will act as an introducer to Currency Cloud Inc ("Currencycloud USA"). Currencycloud USA is:    1.  A company registered in the state of Delaware, United States of America with a principal place of business at 104, 5 th Avenue, 20 th Floor, New York, NY 10011; and    2.  A FinCEN registered Money Service Business and an authorised money transmitter regulated by the federal and state governments of the United States of America, authorised to provide money transmission services. Currencycloud USA is also a FINTRAC registered MSB in Canada, authorized to provide payment services.  b. You will be subject to the Terms of Currencycloud USA which can be found using the following weblink (https://onboarding.paydirect.io/currency_solutions/terms_and_conditions).

3. INFORMATION ON THESE TERMS

We have drafted these Terms in a question and answer format so that they are easy to read and understand. However, if you have any queries at all, please contact us using the contact details set out in clause 1.2. 3.1 Why should we read these Terms? You should read these Terms carefully as they apply to the services we can provide you. They explain your responsibilities to us and our responsibilities to you, how and when these Terms can be terminated and the extent of our liability to you. You should accept these Terms only if you agree to be bound by them. 3.2 How do we accept these Terms? You can accept these Terms by:  a.  Ticking the relevant box online; or  b.  Confirming that you accept them via email or telephone; or  c.  Acting like you accept them by sending money to us or entering into foreign exchange contracts or payment contracts with us, having been:    1.  Provided with a copy of these Terms by us (probably by email);    2.  Directed to the part of the website where a copy of these Terms is able to be viewed; or    3.  Provided with a summary of the main provisions of these Terms via telephone, with the full set of these Terms being sent shortly thereafter. 3.3 When do these Terms come into force and when do they end? These Terms come into force when we confirm to you that you are our client and shall remain in force indefinitely until terminated. 3.4 How can these Terms be terminated? You can terminate these Terms at any time by emailing us or calling us. We can terminate these Terms at any time by providing you with 2 months' notice via email. Please note that just because these Terms are in force does not oblige us to accept any orders from you to enter into foreign exchange contracts or payment contracts. We may be obliged to terminate these terms with immediate effect for legal or regulatory reasons. 3.5 What happens if these Terms are terminated? If these Terms are terminated:  a. Foreign exchange contracts or payments contracts subsisting at the date of termination of these Terms shall remain in force and subject to these Terms until such time as the relevant contracts are completed, closed-out or terminated in accordance with its provisions and these Terms; and  b. You will not be able to enter into foreign exchange contracts and payment contracts with us. 3.6 On agreeing to these Terms and onboarding us as a client, what are your obligations to us? We will make our relationship managers available to you via phone and email. 3.7 Is there anything else we should be aware of when reading these Terms? Yes:  a. These Terms are concluded in English - if you are reading a non-English version, please note that this is provided for reference only and that the English version is the version which applies; and  b. When we refer to a business day, we mean a day other than a Saturday or Sunday or bank holiday in England.

4. SENDING MONEY TO US, RECEIVING MONEY FROM US AND HOLDING MONEY WITH US

4.1 How can you send money to us? You can send money to us:  a.  By making a payment via bank transfer to our bank account including the reference we require, the details of which we shall provide to you upon request; and  b.  Depending on the circumstances, by making a payment via debit or credit card;  c.  By any other method which we make you aware of. 4.2 Can someone other than you send money to us on your behalf? Yes, by bank transfer to the account that we stipulate, having obtained our prior consent and having complied with our requirements for any additional information and documentation. Please contact us via telephone or e-mail to obtain the consent required in this clause 4.2. 4.3 How long will it take for money to arrive in cleared funds with you? This depends on the payment method used. 4.4 How will I know when money has arrived with you? We shall send you an email letting you know when your money has arrived with us. In addition, you can check this by calling us or via the online platform.

5. FOREIGN EXCHANGE (GENERAL TERMS)

5.1 What are your foreign exchange services? Our foreign exchange services allow you to purchase money in different currencies from us. 5.2 What do you mean when you refer to "purchased currency" and "sale currency" in these Terms? When we refer to "purchased currency", we mean the currency of the money you agree to purchase from us. When we refer to "sale currency", we mean is the currency of the money you use to purchase the purchased currency from us. 5.3 How can you find out your foreign exchange rates? You can find out the exchange rates we are able to provide you with at any given time by calling us or by emailing us or via the online platform. 5.4 Are you able to request that you enter into a foreign exchange contract with us at the time we are able to provide you with your desired exchange rate? Yes, with our prior consent. We will notify you when we are able to provide your requested foreign exchange rate, at which stage you will have entered into a foreign exchange contract with us. It is therefore essential when you make such a request to us that you intend to pay for money in the purchased currency in full when your desired exchange rate becomes available. Please note that this service is offered on a 'no liability basis', i.e. we will not be held liable if we fail to notify you that we were able to offer you the specific foreign exchange rate. You are able to cancel the request at any time before we notify you that we are able to provide you with the requested foreign exchange rate and that we have entered into the foreign exchange contract with you. 5.5 How do you place a foreign exchange order with us? You may place an order to enter into a foreign exchange contract with us, verbally via phone or in writing via email or via our online platform. Once we accept the foreign exchange order, a foreign exchange contract will be formed between us. 5.6 Can you refuse a foreign exchange order? Yes. We are under no obligation to accept any foreign exchange order made by you despite having provided you with a foreign exchange rate which we indicated we would accept. 5.7 How do you receive money in the purchased currency? You need to provide us with the details of a bank account belonging to you to send the money in the purchased currency to or, enter into a payment contract whereby the money in the purchased currency will be sent to a third party beneficiary according to the details provided by you. 5.8 Will we send you a confirmation of foreign exchange contracts entered into and, if so, what information will this confirm? Yes. Once we have entered into a foreign exchange contract with you, we shall send you a "contract note" via email which will set out, where relevant:  a.  The amount and currency of money you are required to send to us to satisfy your obligations;  b.  The dates that you are required to send the money referred to in clause 5.8(a);  c.  Details of the bank account you should send money to, to satisfy clause 5.8(a);  d.  The foreign exchange rate;  e.  A transaction number for the foreign exchange contract;  f.  The amount and currency of the money you have agreed to purchase;  g.  The date that the money you purchase will be made available to you;  h.  The date of the foreign exchange contract; and  i.  A breakdown of the payment fees payable by you relating to the foreign exchange contract. 5.9 What if you don't receive a contract note? If you do not receive the contract note within 2 hours of placing a foreign exchange order, you should notify us immediately. Please note that the foreign exchange contract is binding upon you, whether or not you receive the contract note. 5.10 What if the contract note is wrong? If you believe there is an error in the contract note, you must contact us as soon as possible, and in any event within one business day of the contract note being issued. If we receive no objection to the contract note within one business day of it being issued, we will deem the contract note to be an accurate reflection of the relevant contract. 5.11 If you enter into a foreign exchange contract, can you change the date upon which money in the purchased currency is due to be made available to you? Yes, this is possible with our consent and subject to the Terms which we will make you aware of, please speak to a member of our staff if this is a requirement of yours. 5.12 Are there any other Terms which we should be aware of? Yes. We are entitled to accept:  a.  Requests to enter into contracts; and  b.  Other communications, made via email and telephone, which appear to be from you as having come from you. Accordingly, you should take all reasonable steps to ensure that email addresses and telephone lines used to communicate with us are secure. 5.13 What happens if we don't receive enough money in cleared funds in the sale currency at the time you owe monies to us? If you have not sent us enough money in the sale currency at the appropriate time, we may choose to:  a.  Terminate the foreign exchange contract; or  b.  "Roll" the foreign exchange contract, which means that we shall push back the day we are due to deliver the money you have agreed to purchase from us by a business day. Please note that we can choose to keep "rolling" the foreign exchange contract until you pay us the money you owe us (including interest and charges) or we can terminate the foreign exchange contract. 5.14 We incur costs and expenses in rolling foreign exchange contracts. If we choose to roll a foreign exchange contract after you have failed to pay us on time, then you shall be liable for:  a.  Costs that we incur in rolling the foreign exchange contract;  b.  A £10 administration charge for each day that we roll the foreign exchange contract up until you pay us the money you owe us or the foreign exchange contract is terminated; and  c.  Interest for late payment in accordance with clause 13.4. Please see clause 7 (Foreign exchange (termination and consequences of termination of foreign exchange contracts)) for information on the consequences of a foreign exchange contract being terminated.

6. FOREIGN EXCHANGE (FORWARD CONTRACTS)

6.1 What do we mean by a "forward contract"? A forward contract is a foreign exchange contract where money in the purchased currency will be made available to you, to either send to a third party beneficiary or have returned to an account you hold, more than 2 business days after the day you enter into the foreign exchange contract. Example use case for a "forward contract":

• You want to purchase a house for €180,000 in two months' time
• You are only able to raise enough money in sterling to purchase the house;
• You know that foreign exchange rates are constantly changing so that the price of the house in sterling will change between now and the proposed completion date of the house;
• You would prefer to know the cost of the house in sterling now than take the risk that the price of the house in sterling is more on its completion date. In this case, you might want to enter into a forward contract. 6.2 Are there any limitations we need to be aware of when entering into a forward contract? Yes, the money you purchase can only be used to facilitate a means of payment for identifiable goods and/or services or direct investment. We may require that you provide us with proof that this is the case. 6.3 Are there any additional Terms we need to be aware of when entering into a forward contract? Yes, instead of paying us all of the money you are due to pay us for the purchased currency up front, you will pay us in stages. We will ask you for:  a.  An initial payment (generally known as margin) within two business days after entry into the forward contract; and  b.  A final balance payment for the remainder of the monies owing on a day prior to the completion date of the forward contract. 6.4 In addition, we may request money from you between the date the initial payment is due and the final balancing payment is made if we are concerned that, if the forward contract were to be terminated, we would incur losses in unwinding the forward contract which would exceed the amount of margin you have already provided to us. We refer, in these Terms, to this additional request for money as a "margin call" and the money requested as "additional margin". The balancing payment you have to make will take into account any additional margin you have paid. 6.5 How do we make a margin call? We may make a margin call via telephone, email or text message. It is a term of each forward contract that, up until the time that the forward contract is complete:  a.  You make yourself available to take a call on the telephone numbers you have provided us with during normal business hours in the UK; and  b.  You check your emails and text messages regularly during normal business hours in the UK. You are deemed to have received the margin call at the time we speak to you on the phone, at the time we send you an email or at the time we send you a text message (as applicable). We will always try and call you to speak with you to ensure that you have received a margin call sent via email or text; however accept no liability if you do not answer our call(s) or if we are unable to connect to your phone. 6.6 When do you have to pay the additional margin to us? Additional margin must be paid to us by 4:00 pm (London time) on the business day following the day on which a margin call is made, unless we inform you that it is due at a different time. 6.7 What happens if you don't pay the additional margin on time? If you have not sent us enough money in the sale currency at the appropriate time to pay the additional margin:  a.  We can terminate the foreign exchange contract; or  b.  If we don't terminate the foreign exchange contract (or until terminate the foreign exchange contract if applicable) you will be charged a £10 per day administration fee as well as interest in accordance with clause 13.4. Information on the consequences of termination of the foreign exchange contract is set out in clause 7 (Foreign exchange (termination and consequences of termination of foreign exchange contracts)).

7. FOREIGN EXCHANGE (TERMINATION AND CONSEQUENCES OF TERMINATION OF FOREIGN EXCHANGE CONTRACTS)

7.1 Will you ever terminate a foreign exchange contract? Yes, we can terminate a foreign exchange contract in the following circumstances:  a.  If you haven't sent us enough money in the sale currency at the required time to pay us the monies you owe;  b.  Where we reasonably determine that there was an obvious misquote or mistake with the foreign exchange rate we provided to you;  c.  You die or, by reason of illness or incapacity (whether mental or physical), are incapable of managing your own affairs or becomes a patient under any mental health legislation or in our reasonable suspicion become of unsound mind;  d.  You become bankrupt, enter into any arrangement with creditors or an individual voluntary arrangement;  e.  You fail in any respect to fully and promptly comply with any obligations set out in these Terms;  f.  If it becomes or may become unlawful for us to maintain or give effect to all or any of the obligations under these Terms or otherwise to carry on our business;  g.  If we or you are requested not to perform or to close out a foreign exchange contract (or any part thereof) by any governmental or regulatory authority whether or not that request is legally binding; or  h.  We consider it necessary to do so:    1.  If we suspect illegal activities, fraud or money laundering;    2. To protect ourselves from your potential default;    3. To protect ourselves from market failure;    4. To protect ourselves from adverse or volatile market conditions. 7.2 Can you terminate a foreign exchange contract? Yes, however only with our consent and on the Terms which we stipulate whereby you cover any losses we incur, including the costs of unwinding the foreign exchange contract. 7.3 What happens on termination of a foreign exchange contract? If, as a result of us unwinding the terminated foreign exchange contract:  a.  The margin you have paid us (if any) covers us for losses we have incurred in unwinding the foreign exchange contract, we will use this margin to cover our losses and return any leftover money to you;  b.  The margin you have provided us (if any) does not cover us for losses we have incurred, we will send you an invoice for monies outstanding and:   1. Deduct any monies you hold with us to pay for same; and/or   2. Use any margin we hold in relation to any other foreign exchange contracts you have entered into to make up some or all of the shortfall, in which case you will owe us more money under that different foreign exchange contract; and/or   3. You will have to arrange for payment to be made directly to us; or  c.  We end up with a profit as a result of foreign exchange currency movements, we shall keep this profit as we are wary of being deemed to be providing an 'investment service', which is outside the scope of these Terms. For the purposes set out in clause 7.3(b)(1) and (2), we are entitled to convert money into the currency we require and such conversion shall be at a standard rate of exchange available to us. If you fail to pay us money on time, you may be charged interest. Please see clause 13.4 for more details.

8. PAYMENTS (GENERAL)

8.1 What is a payment? A payment is us sending your money on your behalf to an account belonging to a third party. A "payment" does not include us sending money in the purchased currency to an account belonging to you after completion of a foreign exchange contract, this is just us completing the foreign exchange contract. 8.2 When we refer to a "beneficiary" in these Terms, who do we mean? A beneficiary means the person who will receive the payment. The beneficiary account is the account held by the beneficiary that you want the money to be sent to. 8.3 How do we make a request for a payment to be executed? Call us, use the online platform, or a payment initiation service provider and inform us of  a.  The amount and currency of the payment you wish to make;  b.  The name of the person you want to send the money to; and  c.  The account's sort code and account number or for international payments the account's BIC and IBAN or account number and any other information we request from you. 8.4 If the payment is an international payment, you may provide us with the details of your preferred intermediary or routing bank. If you do not provide us with those details:  a.  We shall use our own intermediary or routing bank; and  b.  We will not be liable for any losses that you incur from us using our own intermediary or routing bank. We call the request to execute a payment a "payment order" in these Terms. We may request that you send us details of a payment order via email for the purpose of us having a written note of the payment details, however this will not be deemed by us to be a payment order. Please note that if we receive your payment order after 4pm on a business day or on a day which is not a business day, we will treat the payment as not having been received until 9 am on the next business day. 8.5 Do we confirm the details of each payment order placed? Yes, after a payment order is processed we will send you a document confirming the details of the payment via email. 8.6 What if you receive a contract note for a payment order you did not place? If you receive a contract note for a payment you did not place with us, you must contact us as soon as possible via telephone or email. 8.7 Will we ever refuse a payment order? Yes. If we do so, we shall, unless it would be unlawful for us to do so, notify you of the refusal and the reasons for that refusal. We will also let you know the procedure for rectifying any factual errors that led to that refusal. 8.8 What if you think that you have provided you with incorrect details or a payment has been executed incorrectly or without your authorisation? If this is the case, you must contact us as soon as possible and, in any event, within 13 months of the date of the payment by telephone or by email using the contact details set out in clause 1.2. 8.9 What if you want to make a payment only when you have enough money in the purchased currency, after completion of a foreign exchange contract? You can do this, however your payment order will not be deemed to have been received by us until such time as the money is available in the purchased currency. 8.10 Can you cancel a payment once we have agreed it with you? You may cancel a payment at any time up to the end of the business day before the payment is due to be made by calling us. 8.11 How long will it take for the money to reach the beneficiary's bank? We are obliged by the Payment Services Regulations 2017 to tell you the maximum amount of time it is allowed to take for money to arrive with the beneficiary's bank. In most cases, it will take much less time than this. If you want details of the amount of time it is likely to take, please call us.

9. HOW WE LOOK AFTER YOUR MONEY

9.1 How do we look after your money? We look after your money by “safeguarding” it, in accordance with the Payment Services Regulations 2017. Some money we are required to safeguard and the rest of the money we are not allowed to safeguard, as it would be a breach of the Payment Services Regulations 2017. 9.2 How do we safeguard? We safeguard by keeping the money which we are required to safeguard separate from any other funds we hold. We do this by holding this money in an account separate to the accounts where we hold our own business’ money. Where we continue to hold money we safeguard at the end of the business day following the day in which the money was received, this money will be placed in a designated safeguarding account that we hold with an authorised credit institution. 9.3 What is the purpose of safeguarding? The purpose of safeguarding is to protect the money which we safeguard from the claims of our creditors in the unlikely event that we go insolvent. If we go insolvent, the money which we safeguard should be returned to you in full, less your proportion of the insolvency practitioner’s costs of distributing the safeguarded monies. 9.4 What money we safeguarded? We safeguard money: a.  which you have sent to us, which has not been used to satisfy your obligations to us under an FX Contract, that you have instructed us to send to an account belonging to someone other than you until this money has been sent to that account; b.  you have purchased from us under an FX Contract, when you have instructed us to send this money to an account belonging to someone other than you; and c.  which we have received from a third party on your behalf, until such money is: (i).  used by us to satisfy your obligations under an FX Contract; or (ii).  sent to an account belonging to you or another person (unless you chose to use this money to enter into an FX Contract in accordance with paragraph 9.4(c)(i) in which case this money will have been used to satisfy your obligations to us under the FX Contract). 9.5 What money do we not safeguarded? We do not safeguard money: a.  which you have sent to us, or which you have purchased from us following completion of an FX Contract, when you have not instructed us to send it to an account belonging to someone other than you (i.e. where you have either told is to send this money to an account belonging to you or you have not told us what you want to be done with this money); and b.  which has been used by us to satisfy a debt you owe to us under an FX Contract (whether or not this money was sent by you or a third party). 9.6 What if you send us money or we hold money you have purchased from us under an FX Contract but you don’t tell us what to do with it? If you do not let us know what you want us to do with money you have sent to us or money which you have purchased from us following completion of an FX Contract within a reasonable period of time, the length of such period of time to be decided by us at our sole discretion, then we reserve the right to send this money to a bank account belonging to you and we shall not be responsible for any losses you incur as a result. Please note that this money will not be safeguarded or held by us on trust for you. 9.7 Example 1 You have entered into an FX Contract with us and the money you have purchased is held by us. Whether we safeguard this money depends on what you want to be done with this money. If: a.  you instructed us to send this money to an account other than one belonging to you, then we will safeguard it (please see paragraph 9.4(b); b.  you have instructed us to send this money to an account belonging to you, then we will not safeguard it (please see paragraph 9.5(a)); and c.  you have not instructed us to do anything with this money, then we will not safeguard it (please see paragraph 9.5(a)). 9.8 Example 2 Someone, other than you, sends us money which we know was sent to be held on your behalf. Whether we safeguard this money depends on the following: a.  if, before the money arrived with us, you have entered into an FX Contract with us and you owe us money under this FX Contract, then this money will be safeguarded upon receipt but then very soon after it will cease to be safeguarded as it will be used to satisfy the money you owe to us under the FX Contract (please see paragraph 9.5(b)); b.  if you have not told us what you want to be done with this money, then we will safeguard it until such time as you enter into an FX Contract or this money is sent to an account belonging to you or another person (please see paragraph 9.4(c)); and c.  if you have told us that this money is to be sent to you or a third party it will be safeguarded pending it being sent to the relevant account (please see paragraph 9.4(c)). 9.9 What are the consequences for you of us not safeguarding your money? In the unlikely event that we become insolvent when we owe you money and this money is not safeguarded, to get your money back you will need to add your name and details to the list of creditors in our insolvency. It is likely that you will receive less money back through this process than you would have done had your money been safeguarded.

10. THE ONLINE PLATFORM

10.1 What is the online platform? The online platform is our platform, made available via our website where you can:  a.  Find out our foreign exchange rates;  b.  Make requests to purchase money in different currencies from us;  c.  View the details of foreign exchange contracts you have entered into and foreign exchange contracts which have been completed;  d.  Provide us with the details of your bank account for us to return the money you purchase to (if you are not sending this money onto a third party beneficiary);  e.  Make requests for us to execute payments on your behalf;  f.  View payment contracts entered into and payments which have been executed; and  g.  Update your details. 10.2 How can you gain access to the online platform? You will need to have access to the internet, you can then enter your email address and password on the relevant part of the website. 10.3 Do you have any obligations to keep the online platform safe? Yes, you must take all reasonable steps to keep safe the online platform and your password used to gain access to the online platform. This includes you:  a.  Keeping your password used to obtain access to the online platform safe by, for example, not telling anyone your password or otherwise being careless with the secrecy of your password;  b.  Notifying us by telephone or email using the contact details set out in clause 1.2, without undue delay, on becoming aware of:    1.  The loss or theft of your password required to access the online platform;    2.  The suspected misappropriation or unauthorised use of the online platform;  c.  Logging off the online platform every time the computer (or other device used to gain access to the online platform) is left by you; and  d.  Ensuring that the password required to access the online platform is not stored by the browser or cached or otherwise recorded by the computer or other device used to gain access to the online platform;  e.  Maintaining the security of the computer systems, including having recognised anti-virus software, on the computer or other device you use to gain access to the online platform;  f.  Ensuring that the email account(s), phone number, mobile phone number, computer and other network used to communicate with us are secure and only accessed by you; and  g.  Regularly checking your emails so that you are aware if there are unauthorised changes to your account such as new or amended beneficiary details or new payment orders. 10.4 Will we ever suspend your use of the online platform? We may stop your use of the online platform on reasonable grounds relating to the security of the online platform or the suspected unauthorised or fraudulent use of the online platform. 10.5 Are you able to place spending limits on payments executed, where the request to enter into the payment is placed via the online platform? No.

11. WHAT HAPPENS IF SOMETHING GOES WRONG?

11.1 What if you think that:  a.  Money sent by you via a payment has been sent to the wrong account; or  b.  Money sent by you via a payment has been sent without your authorisation? If this is the case, you must contact us as soon as possible and, in any event, within 13 months of the date of the payment by email or telephone using the contact details set out in clause 1.2. 11.2 When might you be entitled to a refund? You are entitled to a refund where one of the circumstances in clause 11.1 occurs and you have notified us within the timeframe set out in clause 11.1 and one of the following is true:  a.  You couldn't have known that the online platform was at risk of being misused prior to it being misused;  b.  The payment happened because someone we are responsible for made a mistake;  c.  The payment was taken after you told us that someone knew your password or could gain access to the online platform and if we had acted on this information, this would have prevented your loss;  d.  We didn't give you a way to tell us about the circumstances set out in clauses 10.3(b) and if we had of done, this would have prevented the loss; and  e.  The law required us to make you follow certain security procedures when you instructed us to make the payment via the online platform and we didn't do this. 11.3 Are there any circumstances where I am not entitled to a full refund in accordance with clause 11.2? Yes, you will be liable for up to £35 of losses arising from someone being able to access the online platform unless one of the circumstances in clause 11.2 (a) and (b) notifying us by telephone or email using the contact details set out in clause 1.2, without undue delay, on becoming aware of: apply in which case we are fully liable. 11.4 Are there any circumstances where you are not entitled to any refund in accordance with clause 11.2? Yes:  a.  We won't refund you any money if you have acted fraudulently or have intentionally or carelessly failed to keep your password or the online platform safe (unless you told us about this before the payment was taken from your account). For example, we wouldn't make a refund if you gave someone your password and they made a payment using the online platform without you knowing about it.  b.  We are not liable for a payment not being credited to the beneficiary's bank account on time, if we can prove to you that the beneficiary's bank received the amount of the payment on time - in this case you or the beneficiary may be able to recover any losses from the beneficiary's bank. 11.5 If you are entitled to a refund in accordance with clause 11.2, how long will this take? We will refund you by the end of the business day following the day we become aware, unless we suspect fraud and notify the appropriate authorities. 11.6 What happens if I give you the wrong beneficiary account details? In this case, we will not issue you with a refund, but we will try and trace the payment for you. We may charge you a reasonable fee for tracing this payment. 11.7 What if it takes longer than it should for money to be deposited in the beneficiary account? Please let us know and we can make a request to the beneficiary's account provider to treat the payment as if it was made on time. 11.8 What happens if these Terms are terminated before you realise that you might be entitled to a refund? If this happens, both you and us shall still be entitled to rely on this clause.

12. LIABILITY (GENERAL)

12.1 Are there any limitations to your liability which you should be made aware of? Yes, we are only liable for your direct losses, which:  a.  Includes the amount of the payment or the amount of loss on a foreign exchange contract; and  b.  Does not include any consequential or indirect losses, for example we will not be liable for your losses if, as a result of a payment being late, a purchase you were intending to make does not happen or you become subject to a fine.

13. HOW WE MAKE A PROFIT, FEES AND INTEREST

13.1 How do we make money on foreign exchange contracts? For foreign exchange contracts, the rate which we offer you is different to the rate we are able to obtain from the wholesale market. Accordingly, we make a profit from selling you currency. 13.2 Do we charge any fees? Yes, these fees relate to payments and administration costs. We charge these to offset the charges we incur in executing the payments and to cover our own costs in carrying out administrative tasks. These are set out on our website https://www.currencysolutions.com/help/what-fees-does-currency-solutions-charge 13.3 Are there any third-party fees you should be made aware of? Yes, in some circumstances a number of financial institutions may be involved in an international transfer of money, and such financial institutions may charge fees and expenses. The charges will in most cases (but not always) be deducted prior to its delivery. For example, in the event that you want to send £6,000 to an overseas bank account, £6,000 will leave our bank account but the beneficiary's bank and other banks which handle the money on its way to the beneficiary's bank might deduct their own charges and perhaps only £5,950 will arrive in the beneficiary's account. Please let us know if a specific amount must arrive in the beneficiary account and we shall try our best to calculate these fees. 13.4 What happens if you fail to pay us on time? Without limiting the other clauses in these Terms, if you fail to pay us on time, we reserve the right to charge interest on the outstanding sum at 4% per annum above the base rate, from time to time in force, of the Bank of England. Such debt shall be compounded monthly.In addition, we shall be entitled to claim from you the reasonable costs we incur in recovering any sums overdue including debt collection fees and legal fees. Amounts due under this clause may at our reasonable discretion be converted to pounds sterling or any other currency at a rate to be reasonably determined by us.

14. COMPLAINTS

14.1 How do you make a complaint about the service we have provided you with? If you feel that we have not met your expectations in the delivery of our services or if you think we have made a mistake, please let us know. You may let us know by telephone or email using the contact details provided in clause 1.2 (How you can contact us). We have a complaints handling policy available on our website https://www.currencysolutions.com/complaints-handling-policy . 14.2 What if you are still not happy once you have responded to your complaint? If you are still not happy once we have responded to your complaint, if your complaint falls within the Financial Ombudsman Service's jurisdiction (i.e. it relates to a payment), you may be able to take your complaint to the Financial Ombudsman Service. Further information on eligibility criteria and the procedures involved in referring your complaint to the Financial Ombudsman Service are available from http://www.financial-ombudsman.org.uk.

15. WHERE TO GET INFORMATION ON HOW WE HANDLE YOUR PERSONAL DATA?

Details of how we process your personal data are set out in our privacy policy, which is available on our website https://www.currencysolutions.com/privacy-policy. If you are based in the EEA or USA we shall pass your personal data onto our partners so that they can provide you with foreign exchange and payments services. We shall also receive transaction data back from our partners.

16. OUR DUTY OF CONFIDENTIALITY

16.1 What are our obligations of confidentiality? We shall keep your confidential information (such as your name and address and details of contracts you have entered into) confidential and shall not use such confidential information except for the purpose of exercising or performing our rights and obligations under these Terms. For the avoidance of doubt, we shall provide your confidential information to the persons (if relevant) who introduced you to us for the purpose of paying them commission. Please note that we may disclose confidential information to:  a.  Our staff and any partners we work with, provided that we ensure they keep it confidential;  b.  The extent required by law or by any governmental or other regulatory authority or by a court or other authority of competent jurisdiction;  c.  The bank we use to provide us with banking facilities in the normal course of business;  d.  Currencycloud EEA, where you are based in the EEA; and  e.  Currencycloud US, where you are based in the US.

17. INFORMATION WE REQUIRE AND CHECKS WE CARRY OUT WHEN ONBOARDING YOU AS A CLIENT AND THROUGHOUT THE TERM OF OUR RELATIONSHIP

17.1 Do we require any documentation or information from you prior to us being able to provide you with our services? Yes, before we can provide you with our services we will ask for documentation and information about you including but not limited to where the money you will send us comes from. We do this to comply with our legal and regulatory obligations. 17.2 We may require additional documentation and information from you during the lifetime of these Terms. If you do not provide us with the information or documentation we require, we may withhold our services and/or freeze your money until we receive the documentation or information that we require. 17.3 We reserve the right to carry out all and any necessary money laundering, terrorist financing, fraud or other illegal activity checks, including due diligence in relation to the beneficiary before fulfilling a foreign exchange contract or executing a payment. 17.4 Do we carry out electronic verification checks and, if so, what is the effect of this? Yes, we or someone acting for us may carry out an electronic verification check in order to verify your identity and/or address. This will leave a soft footprint on your credit history. By agreeing to these Terms, you consent to such searches being carried out.

18. OTHER IMPORTANT TERMS

18.1 Do we provide advice? No. We may provide you with information about foreign exchange markets, however, this is not advice. You must rely entirely on your own judgement or the judgement of separate advisers when using our services. 18.2 Can these Terms and associated contracts be transferred to another person? Yes, we may transfer our rights under these Terms and associated contracts to another organisation without your consent. We shall let you know in advance before doing so. You cannot transfer your rights under these Terms unless we confirm that you can in writing. 18.3 Do we record telephone conversations? Yes, we record telephone conversations and may use them as evidence if you make a complaint. We shall destroy our recordings in accordance with our normal procedures. 18.4 Can we obtain a copy of these Terms? Yes. A copy is always available on our website and by emailing us and requesting the same. 18.5 What if we delay in taking action under these Terms? If you have breached these Terms and we don't enforce our rights, or we delay in enforcing them, this will not prevent us from enforcing those or any other rights at a later date. 18.6 Will we ever make changes to these Terms? Yes. We can change these Terms by giving you two months' notice via email. We shall assume that you are happy with the changes unless you tell us that you want to close your account before the change is made. These Terms can also be accepted earlier at the request of the customer by receiving a written confirmation. 18.7 Which laws govern these Terms? These Terms are governed by the laws of England. 18.8 Where can legal proceedings in relation to these Terms be brought? If you or we wish to take legal proceedings in court, these can be brought in the courts of England & Wales. In addition:  a.  If you live in Scotland, you can also bring legal proceedings in the Scottish courts; and  b.  If you live in Northern Ireland, you can bring proceedings in the Northern Irish courts. 18.9 What if you open an account with us, jointly with someone else? If you sign up to these Terms jointly with one or more other persons, then:  a.  A reference to "you" in these Terms is a reference to you and each such other person; and  b.  Each person which signed up to these Terms with you:    1.  Can issue orders binding all the persons which signed up to the Terms jointly; and    2.  Is fully liable for the actions taken by all the persons which signed up to the Terms jointly and not just their own "share".