Effective of: 01 March 2024
These Terms and Conditions (“Terms”) apply to your access to and use of the Monesave application “Application” provided by provided by Focus on Monesave s.r.o (Monesave), a Licensed and Regulated Virtual Asset Service Provider in the EU (Czech republic) (IČO 21795533):
Compliance with regulatory and statutory provisions ensures that your assets are subject to robust safeguarding arrangements all times.
Monesave (Focus on Monesave s.r.o) is registered in Czech republic (Registration Number 21795533), and Monesave (Focus on Monesave Ltd) is registered in Ireland (Registration Number 737434) and Monesave LLC is registered in the state of Delaware, USA (Registration Number 7607043). Company address: The CHQ Building, Custom House Quay, Dublin 1, D01 Y6H7, Ireland, Monesave LLC, a Company registered in the State of Delaware (Number: 7607043), address 1007 North Orange Street, 4th Floor Wilmington, DE 19801 (“We”, “Us”, “Our”, “App provider“, “Provider“).
The Terms govern the use of services provided by Monesave, a registered and licensed Virtual Asset Service Provider (VASP) in the Czech Republic under registration number 21795533. These Terms are applicable to clients based in the European Union (EU), European Economic Area (EEA), Switzerland, Australia, and other selected international markets, who wish to exchange their crypto or fiat assets and vice versa. By using our services, you agree to be bound by these Terms. Please read them carefully.
Our contact details are:
Prior to using our Services, you should review the following agreements from our Third-Party Providers, which are hereby incorporated into these Terms:
You can access the Application through Our Website, Apple App Store and Google Play Store when available. Please refer to the Monesave Website for details on when the app will be available in your Country.
Through the Application, you can access the following services “Services”:
By using or accessing the App either via a computer, mobile phone or other electronic device either App or the Website (including the mobile version of the Website) or any product, content or other service made available by Monesave, you hereby agree to be bound by these Terms as well as additional third-party terms and conditions as indicated in these Terms or in other documents provided in the App or on the Website.
Services are provided in cooperation with Our third-party providers. Your use of the Services is hence additionally subject to the terms of our third-party providers which you must accept before using the Services.
Virtual Asset services are provided, and Virtual IBAN issuing and transacting is made available by Striga Technology OÜ (registry code: 16298772), address: Sepapaja 6, Tallinn, Estonia, in accordance with its terms and conditions.
If you wish to use the Services, you must create an account in the Application. Your account must be linked to a valid e-mail address, and you must create a password that you will be using to log in to your account.
Data Security
When signing up to use Monesave you must complete a signup form with name, email address, phone number, address, and ID. This information will be stored for the purpose of providing you with the best possible service and as required by the Financial Authorities.
The customer accepts that Monesave is entitled to use third-party suppliers in all conditions, including development, maintenance, and data storage.
All data are stored securely to prevent un-authorized third party access.
Security
You are solely responsible for determining the complexity of and safeguarding your passwords and Personal Identification Numbers (“PIN”) for the Services and your User Information. If you share or otherwise disclose any such password or PIN to any third party, they may be able to access your User Account or Financial Institution Account information, and you will be solely responsible for any consequences of such sharing or disclosure. By using the Services, you acknowledge and agree that internet and cellular transmissions cannot be assured of complete privacy or security.
If you notice misuse, theft or unauthorized use of your mobile device, mobile PIN or any other activity that makes you suspicious, you must promptly contact the customer service via email at support@monesave.com and, if possible, enable the appropriate security features on the Services.
You must warrant that you take all reasonable steps to:
You agree that you shall be solely responsible for any activities or actions under your User Account, whether or not you have authorized such activities or actions. Monesave will not be liable for any of your losses that are caused by any unauthorized use of your User Account, you may be liable for the losses of Monesave or others due to such unauthorized use. You shall immediately notify Monesave of any unauthorized use of your User Account and contact our customer service via email at support@monesave.com.
Registration and User’s Account
The Services may be used only after Registration is successfully completed. The User acknowledges that the App will not be available without Registration.
The User is responsible for keeping their User’s Account login and password credentials secure and confidential. Monesave cannot and will not be liable for any loss or damage resulting from your failure to comply with this security obligation.
To extend security, Monesave recommends to use PIN or biometrics protection of your Monesave App. Provider assumes that any messages and requests submitted into an App directly from an App’s environment or through the desktop platform are made by a registered User. For certain requests an email confirmation can be required by Monesave to ensure the identity of User is not compromised.
Use of App and Prohibitions
You must use the App or Website only in accordance with these Terms. You should not use the App or Website when the usage would distract your ability to concentrate on situations which may cause death or are dangerous to your personal health or the health of others. Examples include when driving a vehicle, working with hazardous materials, working with electrical appliances, moving sharp edges, walking in the crowds, etc. Any damages and losses related to inappropriate usage are the sole responsibility of the User.
You may not use the App for any illegal or unauthorized purpose. You must not, by using the App, violate any laws in your jurisdiction (including but not limited to copyright or trademark laws).
Users must not modify or adapt the App or modify another website so as to falsely imply that it is associated with the App or the Website or any other of Monesave’s Services. You agree not to reproduce, duplicate, copy, sell, resell or exploit any portion of the App, and not to use or access the App without the express written permission of Monesave. Monesave may, but has no obligation to, remove Content and accounts containing Content that it determines in its sole discretion to be unlawful, offensive, threatening, libelous, defamatory, or otherwise objectionable or to be violating any party’s intellectual property or these Terms. Verbal, physical, written, or other abuse (including threats of abuse or retribution) of any of Monesave’s customers, employees, members, or officers will result in immediate account termination. You understand that the technical processing and transmission of the Service, including your Content, may be transferred unencrypted and involve.
(a) transmissions over various networks; and
(b) changes to conform and adapt to technical requirements of connecting networks or devices. You must not upload, post, host, or transmit unsolicited email, SMS, or “spam” messages.
You must not transmit any worms or viruses or any code of a destructive nature. If your bandwidth usage significantly exceeds the average bandwidth usage (as determined solely by Monesave) of other Provider’s customers, Monesave reserves the right to immediately disable your account or throttle your file hosting until you can reduce your bandwidth consumption.
Account closure
If you wish to close your account, directly contact us and we will do it for you. Kindly note that due to operational or workload constraints it can take up to 180 business days.
We also reserve the right to close your account, without prior notice, in exceptional circumstances. Exceptional circumstances include the following:
· If we have good reason to suspect that you are behaving fraudulently;
· If you haven’t given us (or someone acting on our behalf) any information we need, or we have good reason to believe that the information or documentation you have provided is false or incorrect or misleading;
· If you’ve broken these Terms and Conditions in a serious or persistent way and you have failed to rectify the position within a reasonable time;
· If we have good reason to believe that your use of the platform is harmful to us or our software, systems or hardware;
· If we have good reason to believe that if you continue to use your account that it could damage our reputation or goodwill;
· If we have asked you to repay money you owe us and you have not done so within a reasonable period of time;
· If you’ve been declared bankrupt; or
· If we have to do so under any law, regulation, court order or instruction from any law enforcement authority or regulator.
We may also decide to close or suspend your account for other reasons. We would contact you via email or through the Monesave in advance.
Once we have closed your account(s), you will lose all access to any service provided and these Terms and Conditions shall no longer apply to you.
Deposit Cryptocurrency
You can deposit a given cryptocurrency by doing a transfer to your Monesave Account for this cryptocurrency. The address provided depends on the selected cryptocurrency. Contact customer services for the details
Sending funds to the wrong address, or sending any other asset other than not the selected cryptocurrency, will result in the permanent loss of those funds.
Monesave is not responsible for any loss of funds as a result of any error or negligence of a user; as a result of any fundamental error, bug or malware which has affected the relevant cryptocurrency blockchain or any related systems.
Deposit Fiat Currencies
You can deposit Fiat in your account, by Bank transfer to the correspondent bank details provided in your account in Monesave App. When effecting a bank transfer, you will be asked to include a special reference code to help us identify the funds you have sent. Failure to include this reference within your bank transfer may result in delays in crediting your Monesave euro account.
When your transfer is received, the equivalent value will be added to your account, without charging any fee or amount.
The bank account from which any deposit is made to your account must be held directly in your name. Unidentified deposits or deposits received from an account that appears not to belong to you will be rejected and the funds returned to the original account. All costs arising from such a return of funds will be borne by you.
Withdraw Cryptocurrency
In order to withdraw a given cryptocurrency, you need to provide a destination wallet address.
When a withdrawal request is received, the equivalent amount will be deducted from your account and transferred to the destination account provided.
A fee may be charged by the blockchain network, or by us or our Trading Partners, which can vary depending on its congestion.
Sending funds to the wrong address, or sending any other asset other than the selected cryptocurrency, will result in the permanent loss of those funds. Monesave takes no responsibility for any error or negligence on your part in ensuring that you have correctly supplied the public address which is meant to receive your funds.
Withdraw Fiat
In order to withdraw Fiat directly to your bank account, you need to provide us with the details of a destination bank account that must be opened in your own name and held with a Banking Institution. Note that the destination bank account must be in your name, otherwise the withdrawal request will be rejected.
When a withdrawal request is received, the equivalent amount will be deducted from your Monesave account and transferred to the destination account provided.
Monesave does not take any responsibility for bank details that are not correctly provided by you. Always ensure that your banking details are correctly included and such transfer is made to an account in your name.
Exchange
Monesave allows you to exchange crypto-to-fiat, fiat-to-crypto and crypto-to-crypto. The exchange rate we use is calculated based on the market rate of our Partners. Although we will make the best efforts to obtain and provide you with the best rate available in the open market, Monesave is not bound to supply you with an at-par exchange rate value when effecting an exchange of any type of currency.
Exchanges and swaps can be performed directly on the blockchain through a liquidity aggregator, therefore each operation might be susceptible to price deviations depending on the liquidity depth of a certain token or pair. For convenience and as a risk preventive measure we have pre-determined the maximum slippage percentage.
No Returns or Refunds. All exchanges and swaps of crypto assets are final. We do not accept any returns or provide refunds for your purchase of crypto assets, and we reserve the right to discontinue the exchange and swap of any determined crypto asset without notice.
Transacting, trading and exchanging cryptocurrencies is a high-risk speculative activity in which you may lose all your money or a substantial portion of it. Do not trade with money you cannot afford to lose. We are not responsible if you lose any money as a result of any loss of market value of any currency (fiat or crypto) that is supported on our platform.
Risk Disclosure
Trading risks: You acknowledge and agree that you shall access and use the Services at your own risk. The risk of loss in trading crypto asset pairs and crypto asset and legal tender pairs (fiat currencies and/to crypto assets) can be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:
You may sustain a total loss of the funds. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market reaches a daily price fluctuation limit or there is insufficient liquidity in the market. Also, transactions in crypto assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
Internet transmission risks: You acknowledge that there are risks associated with utilising an Internet-based distributed ledger trading system including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that Monesave shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Services, however caused.
Legal risks: Legislative and regulatory changes or actions at any level may adversely affect the use, transfer, exchange, and value of crypto assets.
Loss of value: The value of your cryptocurrencies may be derived from the continued willingness of market participants to exchange cryptocurrencies for fiat or other cryptocurrencies. If such willingness is abolished for any reason, this may result in the potential for a permanent and total loss of value of a particular cryptocurrency.
This statement is not to be taken as a full disclosure of trading risks.
Assumption of Risk; No Advice
We do not provide investment advice. The information contained within the Monesave platform is for informational purposes only, and we are not soliciting any action based upon such information. Such information is not to be construed as investment advice.
TRANSACTION OPERATIONS
When placing an exchange order, you agree to provide accurate and complete information regarding the transaction, including the amount and type of assets to be exchanged.
Exchange rates for virtual assets and fiat currencies on Monesave’s platform are approximations, subject to variation until the time when funds are deposited into the account or wallet of Monesave. The current rate, calculated and set at the moment of fund receipt, may differ from the initial estimate provided on the website. Please note that Monesave does not offer rate lock services for virtual asset transactions. Clients will be informed of the final exchange rate and the total amount of assets to be received at the time of transaction confirmation, ensuring transparency and alignment with market dynamics.
JURISDICTION
Any legal claim or dispute arising from the use of our website, services, or products and these Terms and Conditions shall be governed by the internal laws of the Czech Republic without giving effect to any choice or conflict of law provision or rule.
Any lawsuit or legal action will be instituted exclusively in the courts of the Czech Republic. Monesave reserves the right to bring suits or actions against you in your country of residence or any other relevant country.
By agreeing to these Terms and Conditions, you waive any objections to the jurisdiction and venue of such courts. These Terms and Conditions are effective as of the date of publication and are subject to change without prior notice. Please review these Terms and Conditions regularly for any updates or changes.
FEES
You can view Monesave Fees here:
Further information can be found in the Privacy Policy on the Monesave Website. Your disagreement to those permissions will prevent the App from displaying requested functionality, where the permission is required. Disagreement to these Terms can be expressed by deleting your account at any time.
We only process your personal data in order to provide you with the Service. For details of processing personal data please refer to our Privacy Policy here.
Changes
We may change these Terms at any time by updating them on the Website.
Unless stated otherwise, any change takes effect immediately. You are responsible for ensuring you are familiar with the latest Terms. By continuing to access and use the Monesave website and App, you agree to be bound by the changed Terms.
CUSTOMER SUPPORT
Support is available 24/7 via our in-app chat. To get there, just follow these simple steps in-app: Go to your Dashboard → select ‘?’ for help → then type your topic or query on the pop up box.
You may reach also our customer service by the following ways:
We will reply to your query within 24 hours. Depending on the complexity of the query, we will advise you of timelines and next steps accordingly
Definitions and Interpretation
API means Application Programming Interface – a set of functions and procedures that allow the creation of applications which access the features or data, or content of an operating system, application, or other service provided by a 3rd party.
App Store means an app store platform allowing users to browse and download apps including the App, e.g., Apple Store, Google Play, or HUAWEI AppGallery.
Content means anything that is to be expressed in an App, the Website, or other media such as speech, chats, writing, a film, clip, video or any other various information. Content can be created by the Monesave or by the User.
Contract means an agreement on using an App and/or providing the Services according to these Terms entered into between the Monesave and the User.
No Charge features mean a basic set of Services available in an App with no charges.
Premium features mean additional set of Services which are bringing certain value for certain Users and are accessible on the App. This set of features is not definite as Monesave can add or remove Premium features anytime.
Registration means the process of entering User identification data into the registration form on the Website or directly in the App and acknowledgment of the sending of the form to Monesave.
Service or Services means a set of an App’s features which allow Users to save, budget, track and analyze their financial situation. Services may be different for Users of different platforms – App (Android, iOS) and Website – and are divided into No charge features and Premium features. Monesave has the right to add or limit scope of Services at any time.
Sharing means to give specific User’s access to online Content in the App or on the Website. This is done via a Premium feature called Group sharing, where the User can opt to invite and select other Users by choice to give them access and roles to view, manage or administer Content in an App.
User or you means a person who uses an App, the Services, and other applications, websites or reads content created or made available by Monesave.
User’s Account means the User’s account created by Registration in the App or online at the Website. The login in the User’s Account is possible through login information, which is the User’s name and password. The User receives the login information by registration of the User’s Account, or the login information is created through connecting the User’s Account with the User’s email address, Apple or Google+ account.
Website means a connected group of pages available at www.monesave.com on the World Wide Web, regarded as a single entity with certain Content maintained by Monesave.
