- New Broad Street House, 35 New Broad Street, London EC2M 1NH
- +44 330 0434 925
- info@saakpay.co.uk
1. Definitions
Services: This includes but is not limited to all money remittance and forex exchange services that we are involved in, at any given point in time.
Fee/Charges: This is includes our commission for Transaction, Banking charges, Delivery/Shipping Charges, Payment gateway charges, Cancellation and Refund policy charges and any other Administrative charges as applicable.
Transaction: This pertains to the performance of the Remitter’s or Forex Customer’s instruction by any electronic means for the Services.
2. Preamble
This Agreement is between the Remitter or Forex Customer (hereinafter referred to as ‘You’, ‘Your’) and Saak Pay UK Limited of 167 - 169 Great Portland Street, 5th Floor, London, England, W1W 5PF (Co Reg No. 06268069) (hereinafter referred to as ‘Saak Pay’, ‘Our’, ‘Us’, ‘We’).
This is the deal that We make with You that We shall endeavor to offer Money Transfer and Forex Exchange Services. The Services provided by Us may now and then be adjusted. In such an event, the following Terms & Conditions will apply to all the Services offered by Us.
These Terms & Conditions apply to all Transactions carried out, by Saak Pay, either through electronic or through the Agent service. These Terms & Conditions may be changed from time to time at the sole discretion of the Company without informing the Clients thereof in advance.
By using Saak Pay, You hereby confirm the following:By using Saak Pay, You hereby confirm the following:
You are 18 years or over at the time of the Transaction.
As is known you are resident in the UK.
The above terms and conditions have been read and understood and therefore you agree to be bound by them.
You undertake to ensure that all the information given to us by You is accurate in every respect.
You will not conceal from Us or attempt to conceal from Us any material information You have come to know or shall come to know in future.
All Anti-Money Laundering Regulations 2019 will be implemented in accordance with by you.
The Transaction that you have effected through Us is for legitimate and legal purpose only and not against any law of the land.
3. Execution of Transactions:
In any circumstances, We may, in Our absolute discretion, decline any Transaction or restrict the amounts to be transferred or exchanged. The restrictions set hereby are done at Our discretion and may be amended from time to time. We may also refuse to process a Transaction or We may stop a Transaction from being completed if We believe that:We may also refuse to process a Transaction or We may stop a Transaction from being completed if We believe that:
In so doing, We might violate any law, regulation, code or other duty and responsibility applicable to Us;
In doing so, it may expose Us to action from any government or regulator;
It can be associated with any form of fraud or unlawful activity; or
In doing this, you are in breach of these Terms and Conditions.
Except when the law would not allow it, We may (where We so wish) advise the Remitter or Forex Customer of the reasons for refusal and how the Remitter or Forex Customer can avoid sending incorrect instructions.
We have no obligation to You to initiate or perform a Transaction if:We have no obligation to You to initiate or perform a Transaction if:
It is regrettable that We fail in the provision of satisfactory evidence of Your identity;
We have any reason to suppose that the Data given by You is insufficient, misleading, unlawful or fake;
You do not give to Us cleared payment for the Transaction;
We shall not be responsible for any losses suffered by the Customer as a result of failure to pay or undue delay in payment or failure to perform any Transaction occasioned by any of these matters.
4. Exchange Rate:
Depending with the movement of the market, the exchange rate which is quoted by Saak Pay through the website is only an estimated rate; hence the exchange rate varies throughout the day and at different times is updated. As a result, the rate that shall be levied on the Transaction shall be the rate which is current at the time of processing of the Transaction.
5. Fees/Charges:
For every transaction ‘Fees/charges’ shall be levied on the Remitter/ Forex Customer.
Fees/charges are flexible and may be adjusted in future without prior notification.
The fees/charges are going to be paid before each Transaction and they will be easily noticeable.
Further particulars of the Fees/charges can also be obtained from the Transaction receipt which will be given to You.
However, if You decide to utilize the Services, the fees stated above will be imposed. Some of the credit card companies may consider the transaction as the usual cash advance, and You might incur a fee from the issuer of the credit card. This might be shown on the bank statement as a separate amount and We shall not be responsible for such charges and/or interest which may be levied. If you are in doubt about the application of any such charges you should refer to the card issuer.
6. Using Our Service:
We are exclusively a money transfer and forex exchange service and therefor we assume no responsibility or liability for losses incurred on Transactions between the sender and third parties. However, specifically, We shall bear no responsibility or liability for the actual goods and services including the quality and the time taken for their delivery so arranged to be paid through money transfer. You are severally advised not to send any amount of money to any person with whom You are not acquainted.
For those Transaction, which You wish to be dispatched on the same day, You must to send all the Transaction details and make payments for the Transaction on or before 4 pm GMT from Monday to Friday. Any Transaction that comes in after this cut-off time will be processed on the same day it was entered but debited from the accounts together with the Transactions of the next business day.
All payments must be received or made from your debit/credit card or a bank transfer from your own bank account. We reserve the right to refuse a Transaction if we have any reason to believe that it has come from a third party. You must be the cardholder with a matching billing address as when registered. Third-party payment refunds can only be made after we receive and verify adequate identification documents.
We confirm that we have no affiliation in the market with any other service provider. Please note that under its MSB license from the FCA, Saak Pay can only provide home remittance and forex exchange services. Thus, we do not offer any financial services other than these. We are not financial partners or payment collection partners of companies offering any other products or services. Customers are informed clearly that we only offer remittance and forex services and are advised to acquire products/services from such companies at their own risk. We are not liable for any of their financial losses.
Subject to all the clauses specified herein, the following terms will apply to online transfers:Subject to all the clauses specified herein, the following terms will apply to online transfers:
Before engaging in any C) Cardholder-not-present transactions, you and the cardholder agree to supply certain other particulars about yourself.
We may, at Our own discretion, refuse any transaction for any of the following reasons:We may, at Our own discretion, refuse any transaction for any of the following reasons:
That is, we do not obtain the authorization to debit directly from the bank card issuer;
As We mentioned earlier, We do not get a credit of your funds in Our account;
It is usually performed with money that is transferred from an account that does not belong to the recipient or a credit card issued to a third party.
These credit checks if any done they are able to show any form of fraud with discrepancies.
But we are able to suspect that there may certain fraud connected with it.
The Remitter or Forex Customer hereby absolutely and unconditionally empowers Us to process ‘apparent’ instructions that may be allegedly given by the Remitter or Forex Customer over the phone, through email and/or any other means of electronic communication. We are under no duty or obligation to make any inquiry into or to in any way verify instructions received from the Remitter or Forex Customer. Any users who are currently using a debit card with our online system, all their transactions will have to go through validation checks, and authorization from the card issuer. In addition, if the issuer of Your payment card declines to authorize the payment, Your order shall not be accepted. Rates will be accepted through cards with the help of 3D Secure which is a payment verification. 3D Secure is marketed under the trade name of ‘Verified by Visa’ and ‘MasterCard Secure Code’ to avoid card scams. The PIN number will have to be set up with the issuing bank and should not be tangled with the PIN issued for the card. If a pin is not relayed, several questions can be asked via Visa 3D Secure. Though Visa 3D Secure can be multiprotocol, it can employ numerous questions to ask if a pin is not requested. 3D Secure authenticates or confirms the information entered by You in your card. This is an entirely automatic system, and we do not save the data submitted by the 3D secure
8. Refund/Cancellations/Amendments:
If We have not completed Your Transaction within a reasonable period as applicable in circumstances You mention in writing, then You are entitled to the refund of the transfer amount of Your Transaction and Your Transfer fee / charge unless, of course, the bank or the pay-out place received the amount or if there was an erroneous entry in the Beneficiary details provided to Us by You.
Under no circumstance will We be responsible for any damages for delays in delivery, non-delivery, non-payment, under-payment or for any other actions in connection with Your transaction whether arising out of the negligence, fault or omission of We and or Our servants or agents for an amount in excess of the principal amount of Your transaction and the transfer fee/charge.
Regardless of these circumstances, We shall in no circumstance be liable for any loss or damage that is not a direct and reasonably foreseeable result of a breach of these terms and conditions, or a failure to complete a Transaction and the transfer fee.
9. Compliance and Data Protection:
Saak Pay UK Limited is fully licensed Money Remittance and Foreign Exchange company that is registered Money Service Business with HM Revenue & Customs with registration reference number 06268069. It is a policy of Company to weed out the money laundering and terrorist financing and we adhere the all enactments and regulations including the Anti Money Laundering regulations 2019.
Saak Pay will review all suspicious or close to the border transactions and the Remitter must be aware that Saak Pay has the right to ask for more info at any stage of the process. Any of our clients found to engage in any illicit activities will be forwarded to the National Crime Agency (NCA).
Procedures include, but are not limited to:Procedures include, but are not limited to:
Confirmation of the identification of the Remitter by use of identification documents or through electronic means.
Supervision and examination of the accounts of the Remitter and the transactions made by him.
Connectedness with third-party detection services and providing suspicious transactions, false identification documents or personal details.
Maintaining of Remitter data for 5 years after the termination of the business relationship between the bank and the customer.
Education of employees in the subject of Anti-Money Laundering and Counter-Terrorist Financing regulations.
We shall be bound and shall adhere to all regulations as provided and may report any details of the transactions which the company considers suspicious to such authorities without notifying the Remitters beforehand. You agree to allow such checks to be made by accepting the Terms and Conditions for this Website.
Saak Pay respects your privacy and GDPR. For details on how we will use your information, please refer to our Privacy Policy; you also have the right to your data, rectify it, or request its deletion.
10. Complaints Handling :
This is to inform you that we have a zero tolerance policy for complaints and any issues that you may wish to raise about any of our services will be promptly looked into. Our Complaints Officer can be contacted at our registered office address:Our Complaints Officer can be contacted at our registered office address:
Saak Pay UK Limited
167 - 169 Great Portland Street, 5th Floor
London, England, W1W 5PF
Company Registration Number: 06268069
We will acknowledge receipt of your complaint within 15 business days. If such a decision cannot be made within the said time then a holding message will be conveyed to the respondent with a deadline for a reply not exceeding 35 business days.
11. Miscellaneous:
Saak Pay may act as an agent or buyer for other financial services, making their services available to carriers under their terms and conditions. When you use the services of those companies through us, their terms also apply.
12. Unexpected forces:
Saak Pay shall not be liable for any failure of its obligations under this Agreement due to circumstances beyond our control, including but not limited to acts of God, strikes, or other catastrophic events.
13. Exclusion of Warranties and Exclusion of Liability:
Sak Pay provides its services on an "as is" and "as available" basis. We disclaim all warranties, express or implied, including the implied warranties of merchantability, fitness for a particular purpose and non-infringement Our liability for any claim is limited to the sterling amount.
15. Disclosure:
Information about our services does not constitute financial advice. Sak Pe tries to give factual information but it doesn’t mean it’s true. We are not responsible for decisions based on the information provided.
16. Exceptions to these Terms and Conditions:
These Terms and Conditions may change from time to time. We recommend that you review these Terms prior to any transaction, as your continued use of our Services constitutes your acceptance of any changes.
17. Law and Governing Authority:
This Agreement is governed by the laws of England and Wales and any dispute arising out of it is subject to the exclusive jurisdiction of the English courts
18. Compensation:
You agree to indemnify Saak Pay and our affiliates for any claims or demands arising from your use of our Services, including any violation of these Terms or applicable law.
19. Responsibility of Consignee:
You are responsible for and indemnify Saak Pay for any damages we incur during or as a result of processing your business. This includes any expenses, losses or liabilities we may incur with currency dealers, banks, payment processors, or other entities
20. Contractual rights of third parties:
Nothing in this Agreement is intended to give rise to the rights of any person other than the parties to this Agreement.
21. Separation of persons:
If any part of this Agreement is found to be invalid, the remaining part of the Agreement will remain in effect.
22. Assignment of this Agreement:
Saak Pay may transfer our rights and duties under this Agreement without your permission.