Published: November 21, 2023

Term of Use

Please read these Terms of Service (“Terms”) carefully as they contain important information about your legal rights, remedies, and obligations as guaranteed by Optiswift Technologies Limited (“Optiswift”, “we”, “us” or “our”). By accessing or using this website, our mobile application, and any of our services (altogether, the “OptiswiftPlatform” or the “Platform”), you agree to the terms and conditions below (“Terms of Use” or “Terms”).
You understand that your use of any of our services is also subject to Optiswift’s privacy notice, cookies policy, and acceptable use policy (collectively, the “Related Agreements''). You are advised not to use any of the services if you have any objections to any of these terms.
We reserve the right to change these Terms from time to time without notice by posting an updated copy of these Terms to the website. You acknowledge and agree that it is your responsibility to review these Terms periodically to familiarize yourself with any modifications. Your continued use of this website after such modifications will constitute acknowledgment and agreement with the modified Terms.

About Us

Optiswift is a technology company that enables individuals to send and receive money from Nigeria and the United Kingdom. Optiswift is not a fintech company. However, we leverage the capabilities of licensed fintech companies to enable Nigerians locally and in the United Kingdom to send and receive money on a peer to peer basis.
Age Restriction

The Optiswift Platform is intended solely for users who are 18 or older. By accessing or using the Platform, you represent and warrant that you are at least 18 years old or older. We do not knowingly transact or provide any services to people younger than the age of 18. We reserve the right to automatically terminate your use of our Platform once we discover that you are less than 18 years old.

Registration and User Account

Registration of Optiswift User Account: You must register for an Optiswift account (a “User User Account") to use the Optiswift Services by providing us with your full legal name, a valid email address, home address, country of residence, place from which you are accessing our service, your mobile phone number, marital status, and occupation. By registering or using a User Account, you agree and represent that you have created your User Account and that you will use your User Account only for yourself and not on behalf of any third party, unless you have obtained prior written approval from us. You are fully responsible for all activity that occurs under your User Account. We, however, reserve the right to reject your application for a User Account, or cancel an existing User Account, for any reason, at our sole discretion.
Notification of Change: In the event that you change any information provided to us at registration, you undertake to notify us within 14 days of such change.
Identity Verification: You will need to comply with our identity verification procedures before you are permitted to open a User Account and access and use the Services, by providing us with certain information about yourself. All the information that you provide must be complete, accurate, and truthful. You must update this information whenever it changes. You authorise us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud, money laundering, terrorist financing, or other financial crime, and to take any action we deem necessary based on the results of such inquiries. When we carry out inquiries, you acknowledge and understand that your personal data may be disclosed to identity verification, compliance data recordation, credit reference, fraud prevention, or financial crime agencies, and that these agencies may respond to our inquiries in full. You can review our Privacy Notice for more information about how we process your personal data.
User Account Security: We are committed to maintaining the security of our Platform, and have implemented industry-standard protection for the Services. You must keep and treat all credentials (such as username and password) associated with the Platform and Services as confidential information and not disclose such information to any third party. You are solely responsible for managing and maintaining the security of any information relating to such credentials and agree that we assume no liability for any loss or consequences caused by authorised or unauthorised use of your User Account credentials or any resulting harm you may suffer.

Accessing the Services

Limited Licence: We grant you a revocable, limited, non-exclusive, non-transferable, royalty-free, and non-sublicensable license to access and use the Platform and services through your computer or Internet-compatible devices for your personal or internal purposes solely in accordance with these Terms.
Restrictions:
- You may only use our services for your own personal, non-commercial use and not on behalf of or for the benefit of any third party. Your use of the Services must comply with all applicable laws. If your use of the Services is prohibited by applicable law, then you are not authorised to use the Services. We are not responsible if you use the Services in any manner that violates applicable law.
- Your use of the Services should not violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other Users from using the Services;
- You must not breach these Terms, the Privacy Notice, or any other agreement between you and us.
- You shall not reproduce, duplicate, copy, sell, resell, or exploit any portion of the Service, use of the Service, or access to the Service without our express written permission.
- You shall not send or receive what we reasonably believe to be potentially fraudulent funds.
- You must not refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us.
- You shall not control a User Account that is linked to another User Account that has engaged in any of these restricted activities.
- You may not (i) use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the Platform, or replicate or bypass the navigational structure or presentation of our Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through our Services; (ii) attempt to access any part or function of the Platform without authorization, or connect to our Services or any of our servers or any other systems or networks of any Services provided through the services by hacking, password mining or any other unlawful or prohibited means; (iii) probe, scan or test the vulnerabilities of our Services or any network connected to the Platform, or violate any security or authentication measures on our Services or any network connected to our Services; (iv) reverse look-up, track or seek to track any information of any other Users or visitors of our Services; (v) take any actions that imposes an unreasonable or disproportionately large load on the infrastructure of systems or networks of our Services or the infrastructure of any systems or networks connected to our services; (vi) use any devices, software or routine programs to interfere with the normal operation of our Services or any transactions on our Services, or any other person’s use of ourServices; (vii) forge headers, impersonate, or otherwise manipulate identification to disguise your identity or the origin of any messages or transmissions you send to ust; or (viii) use our Services in an illegal way.
- You shall not harass and/or threaten our employees, agents, or other users.

Transaction

The Platform allows you to send money from any of the countries in which we operate (the “Supported Countries“) to any person or business in the same or another Supported Country (the “Recipient“).
We reserve the right to cease providing the Services in any of the Supported Countries at any time and without any notice to you.
To request a money transfer to a Recipient, you will need to
- Deposit an equivalent amount in an account which we will provide to you and within a timeframe which we will stipulate;
- a) Upon confirmation of your payment in the account provided above, and within the time allotted, provide payment instructions through the Platform, including the recipient’s full name, address, bank account number, the amount you wish to send (the “Transaction Amount“), and any other information which we may ask you to provide.It is solely your responsibility to make sure all the transaction details are accurate before submission.
  You understand that providing inaccurate details can cause delays in processing your transaction or lead to your transaction being cancelled. Once a transaction has been submitted for processing, we may, at our sole discretion, attempt to cancel a transfer at your request, but cannot guarantee success in such efforts if a transfer has been duly authorised and submitted.
Before you confirm a transaction, we will provide you with the conversion rate that will be applied to your transaction and the fee we will charge for the transaction (the “Transaction Fee“).We will provide you with the estimated amount the recipient will receive (the “Payout Amount“) after currency conversion and deduction of the Transaction Fee.
The actual amount that the Recipient receives may differ from the Payout Amount due to additional fees applied by banks or other service providers.
Once you confirm that you would like to initiate a transaction, we can either deduct the Transaction Amount and required Transaction Fee from your User Account, generate a unique transaction identification number, and provide you with funding instructions, including our bank account details or request you to provide your card details (collectively, “Payment Method”), so that you can deposit the Transaction Amount and pay us the required Transaction Fee.
The funds will be paid into the recipient bank account using the transaction details you provided in the online form. Once your Transfer has been accepted and the Transaction Amount and Transaction Fee have been received by us, we will aim to credit the Transaction Amount to the recipient bank account in the currency requested.
We will attempt to process transactions promptly, but any transaction may be delayed or cancelled for a number of reasons, including but not limited to: our efforts to verify your identity; to validate your transaction instructions; to contact you; or otherwise to comply with applicable law; or due to variations in business hours and currency availability; or due to additional compliance requirements or/and operating procedures and business guidelines our partners have in place.
Banks have specified times for cutoffs for the receipt and dispatch of electronic payments. You acknowledge and agree that we cannot be held liable for any delay in onward payment attributable to the late arrival of funds or instructions for payment related to the cutoff times of the designated bank.
If you notice that funds that do not belong to you have been credited to your account, you must inform us immediately. If an amount is incorrectly credited to your User Account, we may debit it without your separate consent. If you no longer have the funds in your User Account to cover such a debit, you must repay us within 3 Working Days of receiving our request. If you fail to cooperate and refund the funds, we will take legal and enforcement action.
We may refuse to authorise any use of the Platform that could breach these terms and conditions or if we have reasonable grounds for suspecting that you or a third party have committed or are planning to commit fraud or any other illegal or un-permitted use of the Platform.

Exchange Rate

The foreign exchange conversion rate shown on the Platform is the rate applicable for currency conversion transactions done at that particular day and time.
The exchange rates specified on the Platform may fluctuate from time to time in accordance with fluctuations in international exchange rate markets.
Each time you use the Platform to transfer money, the exchange rate and the fee we are charging for the Service will be made available to you before the transaction is completed.
When you initiate a transaction, we agree to transfer the Transaction Amount to the Recipient at the rate specified on the Platform at that time.
The total amount (the Transaction Amount, Transaction Fee and other applicable fees and charges) that you will be required to pay and the relevant exchange rate will be displayed clearly on the Platform before you are asked to confirm your Transaction and proceeding with the Transaction at this point is entirely optional.
Where we have confirmed the deposit of your payment, this exchange rate will apply even where there is a delay in processing your transaction. However, you understand that an exchange rate may change after 5 mins after the initiation of a transaction and you do not complete the transaction by sending us, and we confirming, your payment.

Fees

If you submit a transaction that results in us becoming liable for fees or charges, such as chargebacks or other fees, you agree to reimburse us for all such fees.
We are not responsible for any charges applied by the recipient’s bank resulting from the receipt of funds into the recipient’s bank User Account.
You should contact the recipient’s bank directly for details about any such charges that may be applicable to the transaction.
Your User Account will not earn any interest. Also, you will not be entitled to any interest for the period during which the funds to be remitted are with the Bank, or pending remittance, in the course of remittance, or for any other period.

Cancellation and Refund

If you use the Platform then you have a right to cancel this Terms within a period of 14 days beginning on the date of the successful registration of your User Account, to withdraw from this Terms and cancel Service, without any penalty, but subject to deduction of any reasonable costs incurred by us in the performance of any part of the provision of Service before you cancel. You must contact us within this 14-day period and inform us that you wish to withdraw from this Terms and you must not use the Service. We will then cancel the Service and reimburse the available balance on the User Account to you. However, we reserve the right to hold the available balance for up to 30 business days from receipt of your instructions before returning the balance to ensure that details of all Transactions have been received.
After this cancellation period, you may only terminate the Service as described in the termination section.
After the Transaction Amount has been sent to the Recipient you cannot request for a refund.

Termination

Suspension of Your User Accounts: You agree that we shall have the right to immediately suspend your User Account, freeze or lock the funds in your User Account, and suspend your access to the Platform and the Services for any reason whatsoever, including if we suspect any such User Accounts to be in violation of these Terms, our Privacy Notice, or any applicable laws and regulations. You agree that we shall not be liable to you for any permanent or temporary modification of your User Account or suspension or termination of your access to all or any portion of our services. We reserve the right to keep and use the transaction data or other information related to such User Accounts. The above User Account controls may also be applied in the following cases <
- Your User Account is subject to a governmental proceeding, criminal investigation, or other pending litigation.
- we reasonably believe that you have used or are likely to use the Platform and Service or allow them to be used, in breach of these Terms or to commit an offence;
- we suspect that you have provided false or misleading information
- required to fulfil our legal obligations in relation to the fight against money laundering and financing of terrorism;
- We detect unusual activities in your User Account.
- We detect unauthorised access to your User Account.
- We are required to do so by a court order or command from a regulatory or government authority.
- We have reasonable grounds to believe you are carrying out a prohibited or illegal activity.
- we are unable to verify your identity or any other information pertaining to you, your User Account or a Transaction.
Where it is practicable and lawful for us to do so or would not compromise reasonably justified security reasons, we will notify you via email of the suspension or restriction and the reasons for it before such measures take place or immediately thereafter.
We will reinstate your User Account or execute the relevant Transaction(s) as soon as practicable after the reasons stated in section 9.1 no longer apply or exist.
If you wish to terminate the Services at any time, you must request termination and the return of the available balance in your User Account by email to our address from the email address registered in your User Account. Our Customer Services department will then suspend all further use of the Services.
Once we have received all the necessary information from you and all Transactions and applicable Fees and charges have been processed, we will refund to you any available balance on your User Account less any Fees and charges payable to us, provided that:
1. You have not acted fraudulently or with gross negligence or in such a way as to give rise to reasonable suspicion of fraud or gross negligence; and
2. We are not required to withhold your available balance by law or regulation, or at the request of the police, a court, or any regulatory authority.
If, following reimbursement of the available balance, any further Transactions are found to have been made or charges or Fees incurred using the User Account or we receive a reversal of any prior funding Transaction, we will notify you of the amount, and you must immediately repay to us such amount on demand as a debt.

How We Contact Each Other

How you can contact us: If you have any questions, complaints, feedback, comments, or concerns regarding these Terms or the Services, please contact us at our email or phone number. When you contact us, please provide us with the relevant information we need to verify your User Account.
How we will contact you: Any and all communications from us may be provided to you via electronic mail at the address you provided when accessing the Services. We shall not be responsible for any harm you may suffer as a result of your failure to receive any notice provided to you in connection with these Terms or your use of the Services so long as such notice is provided to such an email address.

Intellectual Property

We do not grant you any licenses, express or implied, to our intellectual property or the intellectual property of our licensors, except as expressly stated in these Terms. All the text, graphics, user interfaces, visual interfaces, photos, sounds, process flow diagrams, computer code (including html code), programs, software, products, information, and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the services or provided through the Services, are exclusively owned, controlled, and/or licensed by Optiswift or, its members, parent companies, licensors, or affiliates.

Privacy Notice

Optiswift takes the privacy of its users very seriously. You understand that by using the Services, you consent to the collection, use, storage, and disclosure of your information as set forth in these Terms and our Privacy Notice.

Website Accuracy

We endeavor to verify the accuracy of any information displayed, supplied, passing through, or originating from the Services, but such information may not always be accurate or current. Accordingly, you should independently verify all information before relying on it, and any decisions or actions taken based upon such information are your sole responsibility. We make no representation or warranty of any kind, express or implied, statutory or otherwise, regarding the contents of the Services, information and functions made accessible through the Services, any hyperlinks to third-party websites, the security associated with the transmission of information through the Services, or any website linked to the Services.

Third-Party Websites

The Platform may include links or connections to websites or services operated by third parties which are not under the ownership or control of us, our third-party service providers, or licensors. We provide such links and connections for your reference only. We do not control such third-party websites or services and are not responsible for their availability or content. Our inclusion of such links and connections does not imply our endorsement of such third-party websites or services or any association with their owners or operators. We assume no liability whatsoever for any such third-party websites or services or any content, features, products, or practices of such third-party websites or services. Your access to and use of such third-party websites and services are subject to applicable third-party terms and conditions and privacy policies. We encourage you to read the terms and conditions and Privacy Notice each third-party website or service that you visit or use.

Representation and Warranties

You represent and warrant to Optiswift that:

you have full power, authority, and capacity to (a) access and use the Platform and/or Services; and (b) enter into and deliver and perform your obligations under these Terms and any agreement entered into pursuant to, or in connection with, these Terms, including, but not limited to, any Product Terms.
all documents and information you provide to us are true, accurate, complete, and up to date in all respects and may be relied upon by us in determining whether or not you are eligible to access the Platform or to use the Services.
all decisions made in connection with these Terms were solely and exclusively based on your own judgment and after your own independent appraisal of your financial resources, ability, and willingness to take relevant risks and achieve financial objectives.
these Terms and any agreement entered into pursuant to, or in connection with, these Terms constitute valid and legally binding obligations, enforceable against you in accordance with their respective terms.
To the fullest extent permitted by applicable law and except as otherwise expressly provided in these terms, you expressly understand and agree that your use of the Services and all information, products, and other content (including that of third parties) included in or accessible from the Services is at your sole risk. The services are provided on an “as is” and “as available” basis without any warranty of any kind. to the maximum extent permitted by applicable law, we and our third-party service providers expressly disclaim any and all conditions, representations, and warranties of any kind as to the services and all information, products, and other content (including that of third parties) included in or accessible from the services, whether express, implied, statutory, or otherwise, including, but not limited to, any implied warranty of merchantability, fitness for a particular purpose, and non-infringement.
Without limiting the foregoing, we and our third-party service providers make no warranty that (a) our Platform or Services will meet your requirements, (b) our Platform or Services will be uninterrupted, timely, secure, or error-free, (c) the results that may be obtained from the use of our Platform or Services will be accurate or reliable, (d) the quality of any products, services, information, or other material purchased or obtained by you through our Platform or Services will meet your expectations, or (e) any errors in our Platform or Services will be corrected. No oral or written information or advice obtained by you from us or our third-party service providers through or from the services will create any warranty not expressly stated in these terms.
Any material downloaded or otherwise obtained through the Platform is done at your own discretion and risk, and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
15.8. Warranties: Use of the Service is at your own risk. To the maximum extent permitted by applicable law, the Service is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, or non-infringement. No advice or information, whether oral or written, obtained by you from us or through the Service will create any warranty not expressly stated herein. Without limiting the foregoing, Optiswift, its subsidiaries, its affiliates, and its licensors do not warrant that the content is accurate, reliable or correct; that the Service will meet your requirements; that the Service will be available at any particular time or location, uninterrupted or secure; that any defects or errors will be corrected; or that the Service is free of viruses or other harmful components. Any content downloaded or otherwise obtained through the use of the Service is downloaded at your own risk and you will be solely responsible for any damage to your computer system or mobile device or loss of data that results from such download or your use of the Service.
Further, Optiswift does not warrant, endorse, guarantee, or assume responsibility for any product or service advertised or offered by a third party through the Service or any hyperlinked website or service, and Optiswift will not be a party to or in any way monitor any transaction between you and third-party providers of products or services.
Federal law, some states, provinces, and other jurisdictions do not allow the exclusion and limitations of certain implied warranties, so the above exclusions may not apply to you. These Terms give you specific legal rights, and you may also have other rights which vary from state to state. The disclaimers and exclusions under these Terms will not apply to the extent prohibited by applicable law.

Indemnification

You agree to indemnify and hold harmless Optiswift, its affiliates, subsidiaries, directors, managers, members, officers, and employees from any and all claims, demands, actions, damages, losses, costs or expenses, including without limitation, reasonable legal fees, arising out of or relating to: (a) your use of the Platform or Services; (b) breach of this Term of use or any other policy; (c) feedback or submissions you provide; (d) false, incomplete, or misleading information relied upon by us to verify your identity and source of funds, where applicable; or (e) violation of any rights of any other person or entity; provided however, that you shall not indemnify us for claims or losses arising out of our gross negligence or willful misconduct. This indemnity shall apply to your successors and assigns and shall survive any termination or cancellation of these Terms.
Any and all of our indemnities, warranties, and limitations of liability (whether express or implied) are hereby excluded to the fullest extent permitted under law, except as set forth herein. Nothing in these Terms excludes or limits liability that may not be limited or excluded under applicable law.

Limitation of Liability

To the maximum extent permitted by applicable law, in no event shall Optiswift, its affiliates, agents, directors, employees, suppliers, or licensors be liable for any indirect, punitive, incidental, special, consequential, or exemplary damages, including without limitation damages for loss of profits, goodwill, use, data, or other intangible losses, arising out of or relating to the use of, or inability to use, the Service. Under no circumstances will Optiswift be responsible for any damage, loss, or injury resulting from hacking,tampering or other unauthorised access or use of the Service or your User Account or the information contained in these Terms.
To the maximum extent permitted by applicable law, Optiswift assumes no liability or responsibility for any (i) errors, mistakes, or inaccuracies of content; (ii) personal injury or property damage, of any nature whatsoever, resulting from your access to or use of our service; (iii) any unauthorised access to or use of our secure servers and/or any and all personal information stored therein; (iv) any interruption or cessation of transmission to or from the Service; (v) any bugs, viruses, trojan horses, or the like that may be transmitted to or through our service by any third party; (vi) any errors or omissions in any content or for any loss or damage incurred as a result of the use of any content posted, emailed, transmitted, or otherwise made available through the Service; (vii) User Content or the defamatory, offensive, or illegal conduct of any third party; (viii) any act, omission, transaction, or exchange of services by and between Users; In no event shall Optiswift, its affiliates, agents, directors, employees, suppliers, or licensors be liable to you for any claims, proceedings, liabilities, obligations, damages, losses or costs in an amount exceeding the amount you paid to Optiswift hereunder or $50.00, whichever is greater.This limitation of liability section applies whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, even if Optiswift has been advised of the possibility of such damage.
Waiver of Class Action: With respect to all persons and entities, regardless of whether they have obtained or used the Service for personal, commercial or other purposes, all Claims must be brought in the parties’ individual capacity, and not as a plaintiff or class member in any purported class action, collective action, private attorney general action or other representative proceeding. This waiver applies to class arbitration, and, unless we agree otherwise, the arbitrator may not consolidate more than one person’s Claims. You agree that, by entering into these Terms, you and Optiswift are each waiving the right to a trial by jury or to participate in a class action, collective action, private attorney general action, or other representative proceeding of any kind.

Miscellaneous Provisions

Governing Law: These Terms are made under and will be governed by and construed in accordance with the laws of England.
Severability: If any provision of these Terms is invalid or unenforceable, such provision will be deemed severed from these Terms, but such invalidity or unenforceability won’t affect any other part of these Terms and the rest of these Terms will remain in full force and effect; provided, however, that if any such invalid or unenforceable provision can be modified so as to be valid and enforceable as a matter of law, then such provision is not deemed severed from these Terms and instead is deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.
Assignment: You may not transfer or assign any rights or obligations you have under these Terms or the Related Agreements without our prior written consent. To the extent permitted by applicable law, we may transfer or assign these Terms or any right or obligation under these Terms at any time without your consent.
Waiver: If we don’t exercise a right under these Terms, we aren't waiving such a right.
Relationship between the Parties: Nothing in these Terms is intended to create or shall create any partnership, joint venture, agency, consultancy, or trusteeship. You and Optiswift are independent contractors for purposes of this Term of Use.
Notices: We may give notice by email to your email User Account. It is your responsibility to ensure that the email User Account is up to date and accurate. Notices may be given and are deemed to be received if sent to your email User Account, whether or not a notice of delivery failure is received. You may give us notices only as we direct, which may change from time to time. Any notice, consent, or other communication given under these Terms must be in writing, in English, and signed.
Force Majeure: We are not responsible or liable for any delay or failure to perform any obligation as required by these Terms as a result of any cause or condition including but not limited to, an act of God, epidemic, pandemic, acts of civil or military authorities, national or local emergency, acts of terrorists, acts or omissions of Government including directives from a regulatory authority, civil disturbance, war, strike or other labour dispute, fire, explosion, interruption in telecommunications or internet services or network provider services, of equipment and/or software failure or unexpected changes in a computer network upon which our Services rely, failure in bank performance, or any other occurrence which is beyond our reasonable control.
Third-Party Beneficiary: You agree that our third-party service providers are third-party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms.