Terms & Conditions

Dated: 27 May 2016, Orebro, Sweden

This website (“Site”) is provided by TRANFERGALAXY AB (“TRANSFERGALAXY AB", "TGAB”), a online money transfer services. The following agreement ("Agreement") details how you may use this Site and the services ("Services") made available through it. ‘Site’, by definition for this agreement includes our Service application(s) available via internet/web access, mobile and smart phones, tablets, or any other technology that allows you to access the Service, which exists now or in the future.

As used throughout this User Agreement, the terms "TRANSFERGALAXY (TGAB)", "we", "us", and "our" refer to TRANSFERGALAXY AB, together with its employees, consultants, directors, successors, affiliates, service providers, and assignees. TRANSFERGALAXY AB is a company registered number 556978-4464 in Sweden, with its registered office at Boglundsgatan 2, 703 74 Orebro, Sweden.

The terms "you" and "your" refer to users of the Service, whether in their capacity as Senders, Recipients, or visitors to our websites.

By your use of this Site and our Services you agree with and accept the following terms and conditions, otherwise, please don’t use the Site.

1. DEFINITION

In these terms and conditions, the below terms shall have the following meaning(s):

"Pay Service" means intends on implementing a money transaction operation through transfer of liquid funds from a payer to a payee.

"Monetary Transaction" means the transaction of liquid funds is initiated by the payer who transfers funds to an appointed payee who then receives the funds.

"Payer" means a person who has been approved as a customer of TransferGalaxy AB (TGAB) and who initiates, approves and pays for a monetary transaction to a payee.

"Payee" means a person who is the intended or designated receiver of a monetary transaction in the form of liquid funding.

"Payment Order" means each instruction by a payer or payee TGAB concerning the conduct of a payment transaction

"Price List" means TGAB’s current price list can at all times be found on TGAB’s website.

"Product Terms" means the current valid terms for a specific payment

2. PROPORTION

The terms and conditions are applicable for payment transactions which are conducted through TGAB: s pay-service operation.

3. NOTICES AND LANGUAGE

The condition of contract and information will be provided in English. Also, communication between TGAB and its customers will be conducted in English. The customer has no right to unilaterally, and without the consent of TGAB, during the contractual period to change the current means of communication, i.e. changing the means of communication being conducted between the customer and TGAB. TGAB will update information from official register. The customer shall on the following scenarios immediately contact TGAB:

1. If a customer has a foreign address or anonymous address and a change of address occurs

2. If a customer changes residence with a different tax law; and

3. during change of legal name

If a customer resides outside of Sweden and is under a different tax law, the customer must report his/her foreign tax identification number to TGAB. The above mentioned messages shall be sent to TGAB in written format.

If TGAB has sent a message to a customer in the form of a recommendation letter or an ordinary letter to the address, given by the applicant or in any other way known to TGAB, the letter will be regarded to have arrived to the customer at the latest seven days after being sent. Messages sent through fax, internet or other electronic devices to given address or telephone number, will be viewed as haven been provided to the customer as soon as it is sent.

Messages from the customer to TGAB shall be put to TGAB according to the information provided in the first point above, unless the company has not demanded response to another address. Messages from the customer to TGAB which are sent by other means than through a letter will only be accepted if the company either in advance or by responding to the message approves of this. TGAB stipulates the right without any preceding messages to the customer to immediately implement a change in security measures. The customer has no right to compensation for any eventual damage in aforementioned scenario. TGAB has the right to record or in any other form document the customer’s communication with TGAB.

The customer, throughout the contractual agreement with TGAB, has the right upon request to receive the terms of the agreement and information regarding 4 chap. 10 § the law of payment services. In other cases or if the customer makes a certain demand, the terms will be sent by mail in accordance with the aforementioned. TGAB has the right to charge an administrative fee according to the price list given that the customer requests for further information than what is provided in the law text regarding payment services.

4. CUSTOMER’S LIABILITY IN CONNECTION WITH PAID SERVICES

The customer is responsible for following TGAB: s terms regarding time and the rule of law and the given instructions specifically which are given in relationship with specific payment service. The company’s general conditions are always applied between the company and the customer when the company’s payment services are being used. In order to implement a payment order the customer must provide information according to the terms for the product or follow the instructions provided by TGAB during the submitting of the payment order. However, generally the customer must always submit information regarding the location of the receiver of the payment or likewise information and also information which enables for the payment receiver to identify and receive the payment transaction in liquid fund.

5. APPROVAL OF PAYMENT TRANSACTION

In order to gain approval for conducting monetary transaction to or from an account through TGAB’s webpage requires a certain document being filed or through any other agreement between TGAB and the customer. The customer shall, before TGAB is obliged to conduct the monetary transaction, required to confirm his/her identity. Approvals for monetary transaction which are applied in any other way shall be approved in the manner which is described in the product terms depending on the pay-service which the payment order is handed in or through any other directions given by TGAB in connection with the pay-service being conducted.

6. WITHDRAWAL OF PAYMENT TRANSACTION

Once TGAB has confirmed that it has received the payment order through message, the customer can no longer annul the payment order intended for the monetary transaction.

7. TIME OF RECEPTION OF PAYMENT ORDERS, MAXIUM EXECUTION AND CUT-OFF TIME

TGAB shall, when the customer has handed in a payment order through TGAB’s webpage, be considered to have received the payment order as soon as TGAB has received an approval, according to p.5 or at a later time when TGAB informs the customer that it has received the approval. If the point of time for receiving the order is on a non-working day for TGAB then the payment order will be considered to be received on the following working day.

If no further details are given in the product terms section, TGAB will apply a limited time frame at 4.30 pm every working day meaning that a payment order which is sent after 4.30 pm will be considered to have arrived the following working day.

The maximal time of implementation for a payment order which has been received by TGAB, according to aforementioned, means that the funds are made available to the payment receiver’s pay-service supplier’s account for recovery at the latest the next working day.

8. CUSTOMER REMEDIES

The customer has the right to be compensated for fees caused by failure to deliver payment transaction or failing to fully complete the payment transaction; however this requires that TGAB is responsible for any failures.

The customer must be able to show that the conditions for refund are fulfilled upon request by TGAB.

The rights for refund is inapplicable on the condition that any reduction is due to changes in the monetary exchange rates and the reference exchange course which both parties have agreed to in advance is used.

Demands for refunding of an approved payment transaction shall be made within seven (7) days from the day that the sum has been debited from the account. TGAB shall within ten (10) working days from receiving the request refund the entire sum or provide a reason for denying the request of refunding with further information of where the customer can relegate the case.

9. CUSTOMER OBLIGATION TO INFORM INCORRECT OR UNAUTHORIZED PAYMENT TRANSACTIONS

The customer shall immediately gain access and have the opportunity to analyse information regarding their monetary transactions which are made readily available to the customer through TGAB’s extract of historical account or receipt which the customer is given after every occasional transaction. If the customer denies to having given their consent of a completed transaction or claim that the transaction has not be conducted in correct manner, the customer shall upon TGAB’s request cooperate with TGAB in order for the latter to being able to identify the transaction and conduct a necessary investigation of what the customer claims to have been unapproved completed monetary transaction.

The customer shall without any delay, from the moment of gaining knowledge of a rejected or wrongfully conducted monetary transfer and at the latest thirteen (13) months after the day of debit, contact TGAB and demand correction by reporting a complaint. In the case that report of complaint is reported passed the due date, the customer cannot demand that TGAB take responsibility for any wrongdoing and the customer is thus responsible for paying the whole sum. The customer is responsible during reporting of complaint to hand in any information needed to TGAB for its investigation. During report of complaint by the customer, in the case of unauthorized money transfer, the filing of a police report must be attached and sent to TGAB.

10. CORPORATE RESPONSIBILITY FOR IMPLEMENTATION OF A PAYMENT ORDER

The customer is responsible for providing complete and correct information regarding the payment order.

TGAB is then responsible for transferring the information to the payment receiver and that the amount which is being transferred is made available for collection.

If the conditions in the first sentence are met and the amount has still not been transferred to the receiver location or the payment transaction is in any other way carried out inadequately and the customer files for complaint in accordance with p. 17, TGAB should, appropriately and without any delay refund the amount of the flawed transaction, and notify the customer that the transaction is not completed and, if possible, explain the reasons.

If the customer has given incorrect information (e.g. incorrect information about the receiver) TGAB will not be held responsible. TGAB shall in such cases, upon the client requests, take reasonable steps to recover the means that the payment covered. For this service, TGAB will take an administrative fee in accordance with the current price list.

TGAB shall debit the customer's payment account as soon as possible after TGAB receives the funds. Before any transactions are performed, any fees as stated in contracts and TGAB’s current pricelist will be charged. The customer is entitled to compensation for fees and interest incurred on the customer due to a payment transaction execution or defective execution which is the customer is not responsible of.

11. MODIFICATION OF TERMS AND RANGE OF PAYMENT SERVICES

TGAB notifies of any changes in the contract and other information it provides for in Chapter 4. 10 §

Payment Services Act at least two (2) months before their application.

The customer is deemed to have approved such amendment unless the customer prior to the date on which the proposed change is applied, notify TGAB that the he /she does not approve it. The customer has the right to immediately and free of any fees terminate the agreement before the date of the proposed application.

Changes in exchange rates are applied, however, immediately and without notice to the customer.

TGAB has the right to change and update the payment services offered by TGAB at any given time. Updated information can be obtained from TGAB’s stores or website.

12. TERMINATION AND TERMS

The contract will be applied, in accordance with the product terms, as soon as a meeting has occurred and will continue to be applied unless anything different is stated on the product terms. When the contract is expires during the period of validity because of termination or any other reasons, the rights to use the payment services for new payments will cease. The customer has the right to terminate the contract at any given time. The termination has to be implemented in written format to TGAB according to the second point mentioned above.

TGAB has the right to terminate the agreement in writing with a notice period of at least two (2) months.

TGAB may terminate the agreement with immediate effect if the customer has committed to a fundamental breach of contract / breach of its terms or other instructions or agreements applicable to payment services. TGAB may also terminate the agreement with immediate effect if the customer dies, becomes bankrupt or administrator is appointed under Chapter 11. 7 § Parents Code (1949: 381).

13. ASSIGNMENT OF CONTRACT

TGAB has the right to transfer all or part of its rights and obligations under agreement. TGAB also has the right to engage subcontractors to fulfil their obligations. The customer is not entitled to assign its rights and obligations under the Agreement.

14. PRICES, TAXES, FEES AND COSTS

For information on rates and charges, please refer to the current price list. In addition, taxes, charges or expenses not charged by TGAB can supervene.

15. LIMITATION OF LIABILITY (FORCE MAJEURE)

When implementing the pay services it requires that TGAB is not held responsible for unusual and unpredictable cases which TGAB has no control of and in which the consequences would be impossible for TGAB to handle in spite of rigorous efforts. Responsibility for the implementation of the pay services according to this paragraph is not enforced when TGAB or any actor hired by TGAB in accordance with Swedish law or union rights.

16. ACCORDING PERSONAL DATA ACT (PUL)

TGAB process personal data collected in connection with application/agreements or any other registration in accordance with the administration of an agreement and for correction requests before or after an agreement has been made. This also includes personal data about the contact between the customer and TGAB (ex. entries regarding questions and complaints) and data about any eventual representative of the customer and how the agreement is completed. In order to maintain a good customer and register care, TGAB may supplement personal data by obtaining it from private and public directory, e.g. updating address information with the help of the National Address Register SPAR. The purpose of TGAB's processing of personal data is to collect and verify personal data prior to a decision (e.g. to conduct a transaction) and to administer and fulfil contractual agreements. Data processing is also used to TGAB to meet their

- Obligations under the law. Personal data are also dealt with in the context of marketing and customer analysis as the basis for marketing, methodology and business development, statistics and risk management. Personal information may, if the customer has not requested direct prohibition of advertisement to TGAB, even be used to direct advertisement and offers to target various types of customers. Processing of personal data may, under the applicable rules of confidentiality, can be made by TGAB both within and outside the EU and EEA area, and of companies which collaborates with TGAB in order to perform their services.

Furthermore, TGAB are in some cases required by law to provide personal information, such as to the FSA.

During international money transfers, TGAB has the possibility of checking payment information against sanctions lists which TGAB is obliged or entitled to apply by law or official decision in order to ensure that payments are carried out and done correctly. The customer can upon request obtain information regarding what personal data that has been processed by TGAB, by handing in or sending a written, signed request on this matter to TGAB.

Requests should be directed to TransferGalaxy AB , Personal Data , Boglundsgatan 2, Box 1909, 703 74 Örebro, Sweden.

The customer can also set the request for an advertisement ban or request for correction of incorrect or incomplete information to the same address.

17. COMPLAINT

If the customer has filed a complaint for a pay service or any other service within TGAB but has not accepted TGAB’s decisions regarding the complaint, the customer can either send email to support@transfergalaxy.com or send a written letter to the person responsible for handling complaints to TGAB on the address: TransferGalaxy AB (TGAB), Klagomål (Complaints), Boglundsgatan 2, Box 1909 703 74, Örebro, who then conducts an investigation on the issue and answers in written form.

If the examination of customer complaints, despite contacts with complaints manager, has not resulted in a satisfactory solution for the customer, the customer may contact the Board for Consumer Complaints (ARN). ARN examines impartial and free of charge private individual’s litigation against traders on the amount complaint is about exceeding a certain minimum amount and notification takes place within the specified time. Further details and registration form found on www.arn.se.

18. GOVERNING LAW AND JURISDICTION

In these general terms and agreements shall Swedish law apply. In the case of actions brought by TransferGalaxy AB, the dispute shall be settled by Swedish courts.

19. CREDIT CARD DESCRIPTOR

The following will appear on your credit card statement "TransferGalaxy"