TERMS OF SERVICE


Effective Date: June 24, 2019

  1. About Onlicoin

    1. Onlicoin is a trading name of (COMPANY NAME), a company under the laws of the Philippines with the registration number (NUMBER). We are licensed by the Bangko Sentral ng Pilipinas to offer our own online currency, remittances, exchange services, and investment services.
  2. Scope of these Terms of Service

    1. These Terms of Service govern the opening, use, and closure of your Onlicoin Account and other related payment and investment services as referred to herein. Together with our Privacy Policy, and any other terms and conditions referred to in these Terms of Service or the Privacy Policy, they establish the agreement between you and us. For the use of our additional services, you may need to accept additional terms and conditions as notified to you when you are ordering or using such services. You are advised to download or to print and keep a copy of these Terms of Service for future reference. You can always view the current Terms of Service on our Website.
    2. Depending on the type of Onlicoin Account you possess, additional terms and conditions may apply as communicated to you at the appropriate time. In the event of any disagreement between the additional terms and conditions and these Terms of Service, the former shall come first.
  3. Your Onlicoin Account

    1. Your Onlicoin Account is an online currency account which enables you to send and receive electronic payments and start an investment through the subscription feature.
    2. Your Onlicoin Account remains in a currency of your choice, as selected by you from the currencies Onlicoin makes available for you from time to time. This will be the currency of your Onlicion Account for the span of time of your agreement with us.
    3. Subject to Section 7, the electronic money held on your Onlicoin Account does not expire but it will not earn any interest unless you use the subscription feature of the website.
    4. You have the right to withdraw funds from your Onlicoin Account at any time you wish. However, you may be required to confirm your identity before you do so. There is no minimum withdrawal amount. You can choose the method of withdrawal when you submit your withdrawal request.
    5. Your online currency account is not a bank account. By accepting these Terms of Service, you acknowledge that (EXCLUDED LAWSTHAT THE USER SHOULD KNOW IF THERE ARE ANY) do not apply to your Onlicoin Account. In the unlikely event that we become insolvent, you may lose your online currency held in your Online Account. However, the (LAWS THAT APPLY TO THE COMPANY THAT THE USERS SHOULD KNOW) apply to us and these are designed to (functions of these laws). For further information on how we secure customer funds, please visit our Website.
    6. The online currency on an Onlicoin Account belongs to the person or legal entity which is registered as the Onlicoin Account holder. No person other than the Onlicoin Account holder has any rights in connection to the funds held in an Onlicoin Account. You may not assign or transfer your Onlicoin Account to a third party or otherwise give any third party a legal interest over it.
    7. Your Onlicoin Account is subject to upload, payment, withdrawal, and investment limits, which is entirely dependent on the verification status of your Onlicoin Account and among other factors to determine aforementioned limits at any given time.
  4. Opening Your Onlicoin Account

    1. In order to make use of our payment and investment services, you are required to open an Onlicoin Account by entering your personal information on our Website. As part of the signup process, you must accept and adhere to the Terms of Service and Privacy Policy published by Onlicoin and must possess a legal capacity to accept both. In the event that you would want to avail of additional services, you must accept additional terms and conditions presented by Onlicoin.
    2. Individuals who want to sign up on our website must be (18?) years of age or above. By using our services and by opening an Onlicoin Account, you declare that you are (18?) years of age or above. We may require you, at any given time to provide document(s), which proves that you are 18 years of age or above.
    3. Opening multiple Onlicoin Accounts under a single name is prohibited unless we explicitly approve of the opening of additional accounts under your name.
    4. Opening an Onlicoin Account is allowed if and only if your country allows it. By opening an Onlicoin Account, you represent and warrant to us that opening an Onlicoin Account does not violate any laws or regulations applicable to you. In the event that you breach the terms of this section, you are required to pay us the amount of all the losses incurred due to your breach of this section.
    5. Any information that you provide to us, whether it be during the signup process or at any point in time thereafter must be accurate and true.
    6. The addition of Payment Methods to your Onlicoin Account is allowed, if and only if, the user is the named holder of the account for that Payment Method. Any violation of this section is treated as a serious offense and is dealt with appropriately and swiftly. Any attempt to add a Payment Method under the guise of another person is considered a fraudulent act.
    7. During the signup process, you will be asked for the intent of your use of your Onlicoin Account. If your intent of use for your Onlicoin Account is for commercial purposes, you are required to inform us, regardless of its usage for private purposes. If you stated that your Onlicoin Account usage is for private purposes only, and wishes to use it for commercial purposes, you must inform Onlicoin first before using it for commercial purposes by contacting Customer Service. Payments received in connection with any business activity is considered as use of Onlicoin Account for commercial purposes. We reserve the right to determine whether, in our reasonable opinion, the Account is used for commercial purposes. If you have questions about any activity that might be considered as a commercial activity, kindly contact Customer Service.
    8. You may close your Onlicoin Account at any given time within (INSERT NO OF DAYS) days, starting from the date of the opening of your Onlicoin Account, at no cost by contacting Customer Service. However, if your account has remaining funds, you may be required to present proof of identification before any withdrawals can occur. All transactions and fees incurred per transaction prior to the closing of your Onlicoin Account (including irrevocable transactions and initiated but incomplete transactions prior to the closing of Account) cannot be refunded.
  5. Maintaining Your Onlicoin Account

    1. It is your responsibility to ensure that the information pertaining to your Onlicoin Account is accurate and up to date all the time. We are not liable for any loss due to failure of fulfilling the aforementioned responsibility. We might ask you to confirm the accuracy of your information, provide documents or present evidence regarding the information bound to your Onlicoin Account at any time.
    2. We will contact you via email or other forms of communication described in Section 18 regarding notices or information that pertains to your Onlicoin Account. It is your responsibility to check your email account regularly, including other forms of communication associated with your Onlicoin Account regarding messages related to your Account. We will not be liable for any loss due to the failure of compliance with the aforementioned terms.
    3. All transaction details are displayed in your online transactions history including (but not limited to) fund uploads and withdrawals, sent and received payments, and other transactions together with their receipt/transmission date (the debit value date), charged fees, and the exchange rate used (if applicable). Each transaction has its own unique ID, which is visible in every transaction present in the transactions history. All of the displayed information in your transaction history will not be altered or amended in any way, at any given time, by us. If you have concerns regarding a particular transaction, always present the transaction ID of the transaction you wish to clarify. It is your responsibility to check your Onlicoin Account balance and transaction history at regular intervals. Immediately contact Customer Service regarding any irregularities or clarifications concerning your transactions.
    4. We will send you an email notification to the email address bound to your Onlicoin Account (which is updated from time to time by you) every month reminding you to log into your Onlicoin Account and download and/or print a copy of your transaction history.
    5. Subject to the provisions of Section 8 below and without prejudice to the provisions of Section 9.5(A), you must notify us immediately in order to claim a refund for any unauthorized or incorrectly executed payment transaction on your Onlicoin Account. This action must be done right after becoming aware of the unauthorized or incorrect transaction and must be no later than (INSERT NO OF MONTHS OR DAYS) after the debit date of the transaction.
  6. Keeping Your Onlicoin Account Safe

    1. It is your responsibility to take reasonable steps in keeping your password for your Onlicoin Account safe at all times. It is your duty to never disclose your password to anyone. WE WILL NEVER ASK FOR YOUR PASSWORD AT ANY GIVEN POINT IN TIME. Never disclose your password to other third-party providers, unless you deem them as trustworthy. Any messages from external sites which are associated with Onlicoin (such as payment gateways provided by Onlicoin on merchant websites) that asks for your password must be reported immediately to us. Immediately contact Customer Service for any doubts regarding websites that offers Onlicoin as a payment gateway. We advise you to change your password every three (3) to six (6) months for added security. We also advise a password that is a combination of letters, numbers, and symbols. We also advise that you do not use a password that has meanings or are easy to guess. You must never, under any circumstances, allow anyone to access your Onlicoin Account, nor observe you opening your Onlicoin Account. Compliance with the security procedures added by Onlicoin from time to time is also a requirement you must fulfill.
    2. You are advised to change your password immediately if you have suspicions or indications of your Onlicoin Account being lost, stolen, misappropriated, or compromised. You are also advised to do the same for login details, passwords, and other security features. Do not hesitate to contact Customer Service as soon as you discover any loss, theft, misappropriation, or unauthorized usage of your Onlicoin Account, login details, password, and other security features. Any delay in notifying us regarding your Onlicoin Account status may not only affect its security but may also result in you being liable for any losses incurred due to failure in notifying us, whether it be intentional or due to negligence. You may also contact the police and report an incident if you have suspicions that your Onlicoin Account has been compromised.
    3. If we suspect within reasonable grounds that there were unauthorized or fraudulent usage of your Onlicoin Account, we may restrict its functionalities or suspend it immediately and prevent its usage. Restrictions and suspensions apply as well to matters related to the security of your Onlicoin Account and its security features. If your account is suspended or restricted, we will notify you immediately or in advance to explain the reasons for its restriction or suspension. In case we were unable to do so, we will notify you immediately after the restriction or suspension, unless it is unlawful to notify you, or the action compromises the security of Onlicoin. If there are no more reasons to suspend or restrict your account, we will lift the suspension and any restrictions as soon as we can.
    4. We will notify you as soon as we can using the provided details in your Onlicoin Account if we suspect that your account is at risk of fraud or security threats. We will provide you with details as to how you can mitigate those risks and deal with them appropriately.
    5. It is your responsibility to ensure that all your email account(s) associated with your Onlicoin Account is/are secured and is/are accessible by you and you alone. Your email address is used to reset your password and to communicate with you regarding the security of your Onlicoin Account. In the event that your email addresses are compromised, contact Customer Support immediately and your email service provider.
    6. It is your responsibility to ensure that your login details are not stored anywhere other than your own computer and browser. Never use any functionality that stores login details and passwords within the computer you use.
    7. You must familiarize yourself with the additional security requirements associated with additional products and services you use. We will notify you of the said requirements.
  7. Closing Your Onlicoin Account

    1. You may close your Onlicoin Account anytime by contacting our Customer Service.
    2. If your Onlicoin Account has a balance at the time of its closure, we will contact you to withdraw your funds within a reasonable amount of time, during which you can access your Onlicoin Account for the purpose of withdrawing the remaining balance only. After the expiry of this period, you will no longer have access your Onlicoin Account however you may withdraw any remaining funds by contacting Customer Service and asking that the funds are sent to you in a way that is reasonably acceptable for us. If you want to gain access to your transaction history after the closure of your Onlicoin Account, you will need to contact Customer Service and ask for the information, You may do so for a period of (INSERT NO OF YEARS/MONTHS/DAYS) from the date of closure of your Onlicoin Account but we recommend that you withdraw your remaining funds as soon as possible as they will not earn any interest while in your Onlicoin Account. Your obligations with regards to making your Onlicoin Account safe as set forth in section 6 shall continue to apply.
    3. We reserve the right to execute any necessary terrorist financing, money laundering, fraud or other illegal activity checks before authorizing any withdrawal of your funds, including in relation to sending back any funds to you after you have closed your Onlicoin Account.
  8. Uploading Funds

    1. You can upload funds by visiting the Website, logging into your Onlicoin Account and complying to the relevant upload procedure. You may be given a number of different upload methods, depending on which Cash in Methods you have added to your Onlicoin Account and which Cash in Methods are available in your country. Upload methods are payment services given by third-party financial institutions (for example, the third-party direct banking service businesses) that are not part of our service. We do not give assurance that the use of any particular upload method made available, and may bring changes to or discontinue the acceptance of any particular upload method at any time without following the process set out in section 17. Notwithstanding section 8.7 below, we shall not be accountable for the upload payment until we received the uploaded funds.
    2. You may be required to answer security questions or to accomplish other activities that we or the payment service provider you use to upload funds to your Onlicoin Account may reasonably ask you to ensure proper authorization of an upload transaction.
    3. If you choose to upload funds using a Payment Method that may undergo to a right to claim funds back (a "Chargeback") such as (but not limited to) credit or debit card or direct debit, you declare that you will not use such Chargeback other than for unauthorized use of the Payment Method or for a violation by us of these Terms of Service which would result in you having a right to a refund of the uploaded amount. Otherwise, you may not Chargeback any upload transaction or authorize Chargeback of any upload transaction for any basis for which we are not responsible including (but not limited to) conflict with merchants for non-delivery of goods or services or insufficient balance on the Payment Method account. We reserve the right to charge you fees and expenses we sustain in connection with such Chargeback and any action undertaken to dispute the same. We may also charge you a Chargeback fee of (INSERT AMOUNT).
    4. If a chargeback or reversal of an upload transaction caused a negative balance in your Onlicoin Account, you will be asked to repay such negative balance by uploading sufficient funds into your Onlicoin Account. Failure to comply is a breach of these Terms of Service. Repayment of the negative balance is due immediately without any notification. We reserve the right, at any time, to give you reminders or to take other debt collection measures including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. We reserve the right to charge you the expenses we justifiably incur in relation to any debt collection or enforcement efforts.
    5. Uploaded funds will be credited to your Onlicoin Account after we have received the funds. Some upload transactions, such as those by credit or debit card, direct debit or direct banking will be credited to your Onlicoin Account instantly, yet still subject to reversal if the actual funds do not reach us within a reasonable time in which case we will deduct such reversed transaction from the balance of your Onlicoin Account. If your Onlicoin Account balance is insufficient, we reserve the right to ask for repayment from you.
    6. For the purpose of an upload transaction through a Payment Method, we are an online currency or e-money issuer and will issue e-money in exchange for the uploaded funds. We will not function as a payment service provider when receiving such funds.
    7. You must not carry out an upload through a Payment Method if you are not the named holder of that Payment Method. We take any violation of this requirement very seriously and it will be treated as a fraudulent activity if you attempt to use a Payment Method of which you are not the named holder. Without prejudice to claiming further damages, if we are asked to return funds uploaded from a Payment Method that is not in your name, we may charge you an administration fee of (INSERT AMOUNT) per upload return.
    8. Uploads may be subject to upload limits due to security reasons and legal requirements. These limits are set dynamically depending on your verification status and the upload method you choose to use. You should know that depending on your verification status your upload limits may be higher than your withdrawal or spending limits. You can see these limits at any time in the relevant section of your Onlicoin Account profile.
    9. Uploads are subject to fees including currency conversion fees (if applicable). Please see section 13 for more information.
  9. Sending Payments

    1. To send a payment, it is a requirement that you authorize the payment with your login information and password. We may also ask you additional security questions related to you or your Onlicoin Account. If your Onlicoin Account is protected by additional security measures such as password tokens, you need to follow every step provided to you with such additional security measures.
    2. Every receiver of a payment you wish to send through us must have a valid way that we can use for their identification. For most of our services that means of identification will be a valid email address but we may still ask for other means of identification for our other services.
    3. If you are asked to provide information of the recipient’s email address or other means of identification, where applicable, you must take great care to accurately type the exact details of whom you wish to send money to. We use those details as the unique identifier to determine the intended receiver of the payment which you instruct us to process. Other details that you provide us along with the recipient’s means of identification may be disregarded and we shall not be held accountable for any error you make when entering the recipient’s means of identification.
    4. If the email address of the intended recipient is already registered with us, the funds will be instantly credited to the Onlicoin Account connected with that email address. Once funds are transferred to the recipient’s Onlicoin Account, the transaction becomes irreversible.
    5. If the recipient’s email address is not registered with us, we will send a notification email to that email address with proper instructions on how to claim and receive the payment. If the recipient did not claim the payment within (INSERT NO OF DAYS), the transaction will be canceled and we will return the funds to you. You may also cancel the transaction at any time before the funds have been transferred to the recipient’s Onlicoin Account. To cancel a transaction you should log into your Onlicoin Account, find the relevant transaction in your transactions history and choose “Cancel”.
    6. Payments are subject to payment limits because of security and legal requirements. These limits are set dynamically depending on your verification status. You can look for these limits at any time in your Onlicoin Account profile. You should ensure that your limits are enough to cover the payment you intend to make as well as any applicable fees including transfer charge and currency conversion fees. You should know that the recipient of a payment may also be subject to spending and withdrawal limits and that this may affect the recipient’s access to the funds you intend to send.
    7. If we are late in completing a payment that you instruct us to make, you may ask us to contact the recipient's payment service provider and ask them to credit it as if it had been received on the right day.
    8. Sending payments is subject to fees including currency conversion fees (if applicable) depending on the type of payment you make and the type of Onlicoin Account you have. Please see section 13 for additional information.
    9. Third Party Providers
      1. You may allow Third Party Providers to access your Onlicoin Account information or make payments using your Onlicoin Account, provided that the Third Party Provider is open and transparent regarding its identity and is acting in accordance with the relevant regulatory requirements. Nonetheless, never give your security details to ANY Third Party Providers, unless we say otherwise. Any instruction sent by a Third Party Provider will be treated as if it were from you.
      2. We will prevent Third Party Providers from accessing your Onlicoin Account if we detect any unauthorized or fraudulent access using your Onlicoin Account. We will notify you first before preventing any access and explain our reasons for preventing access to a specific Third Party Provider, unless it is not practical to do so, in which case, the notification comes afterward. Whatever the case may be, we will notify you of the actions taken, which we deem most appropriate, given the circumstances. If the reasons behind the prevention will undermine our reasonable security measures or is otherwise unlawful, we will not inform you anymore regarding the matter. We might provide alternative options for Third Party Providers to access your Onlicoin Account. We refuse to give Third Party Providers access to your account if they try to gain access via inappropriate or unauthorized ways.
      3. Any incorrect or unauthorized payments made by your Onlicoin Account using a Third Party Provider must be immediately reported to us so that we can amend said transactions.
  10. Receiving Funds

    1. If you receive funds into your Onlicoin Account, we notify you with an email and display the payment as a “(RECEIVE MONEY)” transaction in your transactions history, along with the date of receipt (the credit value date), the fees charged and, if applicable, any exchange rate that was used. Each transaction is given a unique transaction ID and this will be displayed in the transaction history. We will not change or amend information shown in your online transaction history. You should religiously reconcile incoming payments with your own records.
    2. You should know that receipt of funds to your Onlicoin Account does not automatically mean that these transactions are irreversible. We reserve the right to reverse a payment if the payer or the payer’s bank or payment service provider has charged back or reversed (or is reasonably likely to Chargeback or otherwise reverse) an upload or other payment which was used to fund the payment to you.
    3. If a person received a notification about a payment from us indicating that someone has sent them funds to an email address that is not registered, it will not be credited with the payment until it has been claimed in compliance with the instructions written in the notification email. Until then, there will be no contractual or fiduciary relationship between us and the intended recipient. The funds remain those of the sender.
    4. The receipt of payments is subject to fees and currency exchange fees, determined by the type of payment you receive and dependent upon the type of Onlicoin Account you have. Please see section 13 for details.
  11. Prohibited Transactions

    1. WE WILL NEVER ALLOW USERS TO PERFORM TRANSACTIONS THAT IS ASSOCIATED WITH THE FOLLOWING: prescription drugs, illegal drugs and drug paraphernalia, pornography, unregistered services such as charity services, pyramid selling or Ponzi schemes, matrix systems or other “get rich quick” schemes or high yield investment scams, copyright-infringing goods or services, timeshares, unlicensed or illegal lotteries or gambling services, property reservation payments, multi-level marketing, satellite and cable TV descramblers, adult material, tobacco products, government IDs and licenses, especially replicas, novelty items and any counterfeit products, material which is considered as offensive in nature, deadly weapons, items which stems from or leads to illegal activities, credit or debit cards which are not associated with any known legitimate provider, cards which have unlimited purchase capabilities, third-party processing, services or products which offer payment aggregation, un-coded/miscoded gaming, and the like. WE RESERVE THE RIGHT TO ADD FURTHER CATEGORIES AND ITEMS TO THE LIST OF PROHIBITED TRANSACTIONS AT OUR SOLE DISCRETION. The list will be updated and will reflect upon the Terms of Service at any given time.
    2. WE WILL NEVER ALLOW USERS TO SEND OR RECEIVE PAYMENTS FROM OR TO ANY PERSON OR ENTITY THAT OFFERS ILLEGAL GAMBLING SERVICES. Illegal gambling services include (but are not limited to): casino games, poker games, illegal betting services, and the like. In the event that your Onlicoin Account is proven to have transacted with said illegal activities, we will suspend or terminate your Onlicoin Account at any time, effective immediately, without any prior notice. It is your responsibility to ensure that your Onlicoin Account is used for legal purposes only at all times.
    3. We do not allow the use of our services in certain countries. The list of countries will be posted on the Onlicoin Website and will be updated regularly. We may decide to discontinue or restrict our services in some countries at any point in time without prior notice, at our sole discretion. We reserve the right to suspend or terminate accounts at any point in time if the law requires us to do so. We may also suspend or terminate accounts if a relevant government authority or a governing body requires us to do so for the prevention of any financial crime.
    4. THE USE OF YOUR ONLICOIN ACCOUNT FOR ANY ILLEGAL PURPOSES IS ABSOLUTELY FORBIDDEN. Illegal purposes include (but not limited to) fraud and money laundering. Any account that violates this section will be immediately reported to the relevant law enforcement agency. The use of your Onlicoin Account in order to abuse, exploit, or circumvent usage restrictions imposed by merchants is prohibited.
    5. Accepting payments for certain categories of businesses is allowed, if and only if, we approve of such transactions at our sole discretion. Business categories include (but are not limited to): the sale of supply of dietary supplements and alternative health products, live streaming, dealing in natural resources such as jewels, the collection of any form of donations, payments to charitable or non-profit organizations, money exchange or remittance businesses, the sale or supply of alcoholic beverages, or any other business category published on the Website. Contact Customer Service if you have questions about your business and as to what category it falls upon. We reserve the right to add business categories, at our sole discretion, to the list of allowable business categories within the Terms of Service or within the Website.
    6. We reserve the right to reverse any transaction, close or suspend Onlicoin Accounts, report transactions to the relevant law enforcement agency, claim damages from users, and charge administration fees of up to (INSERT AMOUNT AND DENOMINATION) for any attempt to conduct transactions that violate the prohibitions contained within Section 11 or are not approved under Section 11.5.
    7. It is your sole responsibility to ensure that you send to or receive payments from persons or entities that comply with any applicable laws and regulations for the sale of supplies or goods and services that you provide or receive. Any payments accepted or sent using our services is not an indication of the legality of the sale of supplies or the provision of goods and services. Do not proceed with the transaction if you have questions pertaining to the legality of any supply or purchase.
  12. Withdrawing Funds

    1. You can request to withdraw all or part of the funds held in your Onlicoin Account at any time. To do this you must log into your Onlicoin Account and choose a withdrawal method and enter your desired amount to be withdrawn. Withdrawal methods are payment services given, at least in part, by third-party financial institutions (for example, the bank where you hold an account). We cannot assure you the availability of any particular withdrawal method and we may make changes to or discontinue a specific withdrawal method at any time without taking heed of the procedure set out in section 17 as long as there is at least one withdrawal method available to you. Where the withdrawal payment is received by you through the help of a payment service provider (example, the bank), we shall not liable for the withdrawal payment once your payment service provider received the withdrawn funds.
    2. Your Onlicoin Account is subject to withdrawal limits. These limits are automatically adjusted depending on the type of identification documentation you have provided us. You can look for your withdrawal limits at any time in your Onlicoin Account profile. Before you upload any funds into your Onlicoin Account, you must see to it that your current withdrawal and spending limits meet your withdrawal and spending requirements because we legally cannot allow you to exceed these limits.
    3. If your withdrawal request surpasses your current limit, we may refuse your request and instead oblige you to send us documents that will verify your identity and address before we allow you to the withdrawal of funds.
    4. Withdrawals are subject to fees like currency conversion fees if it is applicable. Please see section 13 for more information.
    5. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.
    6. You must not execute a withdrawal to a bank account or other Payment Method if you are not the named holder. We take any violation of this requirement very seriously and will consider any attempt to use a Payment Method of which you are not the named holder as a fraudulent activity. Without prejudice to claiming further damages, if we are ordered to investigate a withdrawal to a Payment Method that is not in your name, we may charge you with an administration fee of up to (INSERT AMOUNT).
    7. You should make sure that the payment details you enter when withdrawing funds are accurate and complete. We will not be responsible for withdrawn funds being sent to the wrong account where this is caused by you providing incorrect payment details. When withdrawing to a bank account, you must make sure that the (ACCOUNT NUMBER, SORT CODE, ETC.) are correct. If you have withdrawn funds to the wrong account, you may contact us and request that we help you in reclaiming the funds. However, we will charge you an administration fee of up to (INSERT AMOUNT) for doing so and we cannot assure you that the reclaim efforts will be successful.
  13. Fees

    1. Fees mainly depend on the purpose of your Onlicoin Account usage. Fees differ for personal and commercial usage.
    2. Transaction-related fees are available for viewing under the “Fees” section of our website. Onlicoin Accounts used for commercial purposes have additional fees associated with them, in accordance with the applicable terms and conditions referred to in Section 4.7. We recommend you to print, download, and keep a copy of the “Fees” section, including a copy of the Terms of Service. The “Fees” section forms a part of these Terms of Service. In accordance with Section 17, fees are subject to change at any time. We may charge additional fees under certain circumstances, as pointed out in sections 8.3, 8.9, 8.12, 11.6, 12.6 and 12.7.
    3. All transactions may be subject to currency conversions. Any payment from your Onlicoin Account (denominated to a currency) to another Onlicoin Account (denominated in another currency) will show a prompt asking you to either: a.) make the payment in your currency, b.) make the payment in his currency; or c.) make the payment in other currency. If you select your account’s currency (a.), the recipient will pay the conversion fee to your respective currency. If you select the recipient’s currency (b.), you will pay the conversion fee to his respective currency. If you select a different currency instead (c.), you will pay the conversion fee for the conversion to the desired currency, and the recipient will also pay the conversion fee to his desired currency if he wishes to do so.
    4. We apply the average daily inter-bank market rate, published by a third-party foreign currency data provider (INSERT DATA PROVIDER) for every currency conversion. In addition, we add a foreign exchange fee on top of that, which is visible under the “Fees” section of the website. The foreign exchange fee is payable on top of the transaction fee. We do not apply foreign exchange fee for fees in (INSERT CURRENCY HERE), but rather, converts the amount in (INSERT CURRENCY HERE) to your Onlicoin Account’s currency at the applicable wholesale exchange rate.
    5. Fees are expressed either as a fixed amount in (INSERT CURRENCY HERE) or as a percentage of the transaction. Fixed amounts displayed in a currency other than (INSERT CURRENCY HERE) are for informational purposes only. Any fees deducted from a balance or a transaction denominated in a different currency will be converted first into the equivalent fee for that currency (which is based on the Onlicoin wholesale exchange rates applicable at the time) and then deducted. Foreign exchange fees do not apply to currency conversions of fees.
    6. Payable fees are automatically deducted from your Onlicoin Account balance. Transaction fees are also automatically deducted from your Onlicoin Account balance for every transaction executed. We refuse to process payments if your Onlicoin Account balance is insufficient to cover the fees. Chargeback fees are deducted automatically when incurred.
    7. You are required to repay the negative balance by adding funds to your Onlicoin Account if the deduction of fees results in a negative balance. Failure to do so results in a breach of Terms of Service. Repayment of the negative balance is due immediately without any prior notice. However, we reserve the right to send you reminders at any point in time requiring you to add funds to your account or to perform other debt collection methods including (but not limited to): instructing a debt collection agency or solicitors to collect the debt, or to pursue the claim in legal court. We reserve the right to charge you with expenses incurred reasonably in connection to any debt collection or enforcement actions we have performed.
  14. Your Data

    1. You explicitly consent to us processing, accessing, and retaining any information you provide to us, for the purposes of providing remittance and investment services to you. This does not affect our respective rights and obligations under data protection laws. You may terminate this consent by closing your Onlicoin Account. If you withdraw consent in this way, we will stop using your data for this purpose, yet still continue to process your data for other reasons where we have other lawful grounds to do so, such as where we are legally required to keep records of each transaction.
    2. The processing of your data is regulated by our Privacy Policy which is located on our Website. By accepting these Terms of Service, you also agree to the terms of our Privacy Policy. You should download, print, and keep a copy of the Privacy Policy along with these Terms of Service.
    3. As a default, you will receive email newsletters that will announce new product features, promotions, events, special deals, etc. By accepting these Terms of Service, you consent to receive such email newsletters on a regular basis. If you do not want to receive any newsletters from us, you can opt out at any time by logging into your Onlicoin Account and changing the necessary setting in your Onlicoin Account profile. You can also opt out of receiving newsletters by contacting our Customer Service. Any email newsletter we will send you will also give you the option to unsubscribe from any future newsletter.
  15. Liability

    1. In the case of an unauthorized payment or a payment that was incorrectly executed due to our own fault or error, we shall, as soon as practicable, refund the payment amount along with all fees deducted therefrom. This shall not apply:
      1. where the unauthorized payment is due to your failure to keep the personalized security features of your Onlicoin Account secure in accordance with section 6 of these Terms of Service, in which case you shall remain accountable for the first (INSERT AMOUNT) (or equivalent in the currency of your Onlicoin Account) unless section 15.1.3 applies;
      2. if you fail to inform us without undue delay of any loss of your password or other circumstances that could reasonably be expected to have compromised the security of your Onlicoin Account after you have known of such event in which case you shall remain accountable for losses incurred until you inform us;
      3. if the transaction was unauthorized but you have acted fraudulently or jeopardized the safety of your Onlicoin Account with intent or gross negligence, in which case you shall be wholly liable for all losses; or
      4. if you fail to dispute and bring the unauthorized or incorrectly executed transaction to our attention within the period of (INSERT NUMBER OF DAYS/MONTHS) from the date of the transaction.
    2. Unless you have acted fraudulently, section 15.1.1 shall not apply to transactions made after you have informed us in accordance with section 6.2, where we have failed to give you appropriate means for notification or we are obliged to use strong customer authentication but failed to do so, in which case we shall remain accountable and refund any unauthorized transaction to you as soon as practicable.
    3. Without prejudice to the aforementioned, you are asked to scan your Onlicoin Account transactions history regularly and frequently and to contact Customer Service immediately if ever you have any questions or concerns.
    4. In the case of any misdirected or incorrect payment, we shall take a reasonable course of actions to help you with tracing and recovering such payments.
    5. Subject to the aforementioned, we shall not be accountable for any disruption or impairment of our service or for disruption or impairments of intermediary services on which we depend for the performance of our responsibilities hereunder, provided that such disruption or impairment is because of abnormal and unforeseeable events beyond our reasonable control or the control of the intermediary affected.
    6. We shall not be accountable for any indirect or consequential losses including but not limited to loss of business, loss of profit, and loss of reputation. We shall not be accountable for any losses coming from our compliance with legal and regulatory requirements.
    7. Nothing in these Terms of Service shall function to exclude liability for personal injury or death because of negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be ruled out or amended by agreement between the parties.
    8. Our obligation under these Terms of Service is limited to providing you with an electronic money account and related remittance and investment services and we do not make any statement in relation to or endorsement of the safety, quality, or legality of any goods or services provided by an Onlicoin customer or intermediary.
    9. We shall not be accountable for the evaluation or payment of any taxes, duties or other charges that come from your use of the Onlicoin Account or services provided in these Terms of Service.
    10. Reimbursement. You agree to defend, compensate, reimburse or and hold us and our other companies in our corporate group harmless from any claim, demand, expenses or costs (including fines, legal fees, or penalties) that we incur or sustain because of your or your agents' breach of these Terms of Service, violation of any applicable law or regulation and or use of the services. This provision shall survive termination your relationship with us.
  16. Termination and Suspension

    1. We give two months’ prior notice before terminating your Onlicoin Account or any payment service associated with your account. You can terminate your own account at any time. Different termination provisions apply to Onlicoin Accounts used for commercial purposes, as laid out in Section 4.7 above.
    2. We will provide you with instructions as to how you can withdraw your remaining funds along with your termination notice.
    3. Termination of your Onlicoin Account does not affect our right to hold the reserve and make deductions therefrom for the agreed timeframe, if and only if your Onlicoin Account is subject to a reverse.
    4. We can suspend or terminate your Onlicoin Account without any prior notice under the following conditions:
      1. you breach any condition written on these Terms of Service or any other condition applicable to specific services covered by separate terms and conditions;
      2. we have reason to believe that you violated or you violate any law or regulation that is applicable to your use of our services;
      3. we have reason to believe that you are involved in any fraudulent activity, money laundering, terrorist financing or other criminal activities, whatever the form may be; or
      4. we have reason to believe that you hold another Onlicoin Account and has been used for any fraudulent activity, money laundering, terrorist financing or other criminal activity.
    5. We may suspend your Onlicoin Account at any given time under the following conditions:
      1. we reasonably believe that your Onlicoin Account has been compromised or other security reasons; or
      2. we reasonably suspect that your Onlicoin Account was used or is being used without proper authorization or in a fraudulent manner; in which case you shall be notified, either prior to the suspension or, if prior notification is impossible due to circumstances, promptly after the suspension, unless we are prohibited to notify you under the rules of the law.
  17. Changes to these Terms of Service

    1. These Terms of Service and any additional terms and conditions that apply are all subject to change. Changes will be implemented with a prior notice under the procedure set forth in this section.
    2. We shall notify you of any proposed change(s) by sending an email to the primary email address registered to your Onlicoin Account.
    3. The proposed change(s) shall take effect two (2) months after the date wherein the change notice is deemed as received under Section 18.1 unless we are notified that you object to the proposed change(s) before they take effect. Change(s) to these Terms of Service that makes it more favorable to you shall come into effect immediately if so stated in the change notice. Change(s) to exchange rates shall come into effect immediately without any prior notice, wherein you shall not have the right to object to such change(s).
    4. Change(s) will not apply to you if you have objections about it. However, any objection shall constitute a notice of termination of your account. Your Onlicoin Account will be closed in accordance with the provisions of Section 7 above.
  18. How we communicate

    1. We usually contact you via email. For this purpose, you must at all times keep at least one valid email address in your Onlicoin Account profile. You are obliged to check for incoming messages regularly and frequently. Emails may contain links to additional information on our Website. Any communication or notice sent by email will be considered received by you on the same day if it is received in your email inbox before 4:30 p.m. on a Business Day. If you receive it in your email inbox after 4:30 p.m. on a Business Day or at any other time, it will be considered received on the next Business Day.
    2. Where law requires us to provide you information on a durable medium, we will either send you an email (with or without attachment) or send you a notification directing you to information on our Website in a way that allows you to keep the information in print format or another format that can be kept by you permanently for future reference. We advise that you keep copies of all communications we send or make accessible to you.
    3. You can ask for a copy of the current Terms of Service or any other contractual document relevant to you by contacting Customer Service.
    4. In order to view our emails, you should have a computer with email software that can show emails in HTML format. We may also send you attachments in Adobe Systems Inc.’s Portable Document Format (PDF), for which you need Adobe’s Acrobat Reader, which can be freely downloaded at the Adobe website.
    5. We will never send you any emails with attached with any executable files or with links to any executable files. If you receive any email with such attachments, you should delete the message without downloading or clicking on the attachment. If you are unsure whether a message comes from us, please contact Customer Service.
    6. We will communicate with you in English and will always accept communications made to us in English. You can select your preferred language from the list of supported languages in your Onlicoin Account profile and we will send you automated email notifications and communications about the changes to these Terms of Service in your chosen language. For non-standard communication, we reserve the right to communicate with you in English. Documents or communications in any other languages are for your own convenience only and shall not start an obligation on us to conduct any additional communication in that language.
    7. Apart from communicating via email, we may also contact you via letter, SMS, or telephone, where appropriate. Any communication or notice sent by post will be considered received (INSERT NO OF DAYS) from the date of posting for PH post or within (INSERT NO OF DAYS)of posting for international post. Any communication or notice sent by SMS will be considered received the same day.
    8. You may contact us at any time by sending a chat or message to our Customer Service via the “Support” facility (ONLICOIN WEBSITE LINK TO SUPPORT OR CONTACT).
  19. Complaints

    1. Any complaints about our services or us should be addressed to us immediately by contacting Customer Service. You must indicate in a clear context that you wish to file a complaint against us. This helps us distinguish a complaint from other queries. We will send you in return an acknowledgment via post or by email within 48 hours upon receiving your complaint in accordance with the procedures regarding complaints. You may request a copy of the procedure by contacting Customer Service at any time.
    2. It is our aim to provide an answer or a resolution to your complaint within the given timeframe, as outlined by the (INSERT APPROPRIATE AGENCY HERE). We will inform you immediately in the event that it is impossible to do so due to lack of information or unforeseen circumstances.
    3. If your complaint is not resolved to your satisfaction, you may contact the (INSERT APPROPRIATE AGENCY HERE) at (INSERT APPROPRIATE ADDRESS HERE). For additional contact details, you may visit the Website at www.onlicoin.com.
  20. Miscellaneous

    1. No other person except you alone shall have the rights under these Terms of Service.
    2. Your Onlicoin Account is personal and exclusive to you. Therefore, you may not assign any rights under the Terms of Service to any third party.
    3. Your Onlicoin Account is operated within the Philippines, and these Terms of Service shall be governed by and interpreted in accordance with the laws of the Philippine Government. Any dispute under these Terms of Service, or otherwise in connection with your Onlicoin Account shall be brought exclusively to the courts within the Philippines.
    4. Parts of these Terms of Service which is deemed as invalid, unlawful or unenforceable by any court within the scope of the Judiciary Court of the Philippines shall be removed from the rest of the Terms of Service, which shall continue to be valid and enforceable to the fullest extent allowed by law.
  21. Definitions

    Some words in these Terms of Service are defined as follows:

    “Business Day” pertains to any day other than a Saturday or a Sunday or a regular holiday or any non-working holiday in the Philippines.

    “Customer Service” refers to our own customer service, which is easily accessible by sending a message through the “Support” facility on the website.

    “Fees” refers to the charges you pay to us for utilizing our services.

    “Payment Method” may pertain to bank transfer and other payment instruments including, but not limited to, credit cards, debit cards, and over-the-counter bank processes.

    “Privacy Policy” is Onlicoin's policy governing the processing and handling of personal data which is available on the Website. It is amended from time to time for improvement and security.

    “Onlicoin” means (INSERT COMPANY NAME HERE) (registered number: NUMBER HERE) whose registered office is at (INSERT COMPLETE ADDRESS HERE)

    “Onlicoin Account” pertains to the electronic money account you open and maintain through the Onlicoin Website upon registration on their website.

    “Onlicoin Website” or “Website” pertains to the website available at (ONLICOIN WEBSITE LINK)

    “Terms of Service” refers to Onlicoin’s Terms of Service, published on the Website and is amended from time to time.