Last updated: 18 May 2017
This agreement (the “Agreement”) sets forth the terms and conditions governing your use of the Service (the “Service”) as specifically described herein in Section 4. Please read it carefully as it contains important terms, including terms governing disputes and requiring use of arbitration.
As used herein, the terms “Bank”, “we,” “us,” and “our” mean Community Federal Savings Bank, and “TransferWise” means TransferWise Ltd. “You” and “your” means the person who is using the Services to receive funds from a US bank account. This Agreement is to be read together with the Borderless Customer Agreement between you and TransferWise and, in the event of inconsistency, this Agreement shall control. This Agreement and the Service do not apply to your use of your TransferWise account, which is provided to you by TransferWise. For further details about your TransferWise account, please refer to the Borderless Customer Agreement.
Read this Agreement and keep it for your records. By using the Service, you agree to the terms of this Agreement and agree that you will comply with all applicable laws.
In order to use the Service, you first must register. As part of your registration and use of the Service, you represent and warrant that:
To help the government fight the funding of terrorism and money laundering activities, Federal law requires the Bank to obtain, verify and record information that identifies each person to whom we provide certain types of services. We will require you to provide your name, address, date of birth, phone number, email address, and other information that will allow us to identify you. We may require you to provide documentation, which may include your passport or other government issued photo identification document. We may also contact you if we have additional questions.
The Service enables the transmission of funds to you by senders (“Senders”) who may be located in the United States and who wish to send funds to you denominated in United States Dollars (“USD”). Funds are transmitted by Senders via electronic funds transfer or wire transfer (each transmission a “Transaction”). The Service, as described herein, may be amended by us at any time, upon notice, as set forth above.
All U.S. persons, including U.S. banks, bank holding companies, and non-bank subsidiaries, must comply with OFAC’s regulations. This means that we may reject (return) or institute a hold on any funds sent to you if you or the Sender (or any other party related to the Transaction) are a Specially Designated National or fall into the scope of a country-based or other sanction program.
You must abide by the ACCEPTABLE USE POLICY (EEA) BORDERLESS ACCOUNT.
We only accept payment for Transactions via an ACH Push or domestic Wire Transfer. No other payment methods are accepted, including cash, mailed check, or electronic check.
Payments must be made to our specified account via ACH Push or domestic wire transfer. If for any reason your Transaction is cancelled or refused, then we will promptly return the deposit to the account from which it originated. In the event that we are unable to return the deposit, then we will promptly contact you using the most current contact information provided to us by you through your TransferWise registration.
You can access the details of all any Transactions and other information relating to your use of the Service by logging into the TransferWise website (www.transferwise.com/uk).
We reserve the right in our sole discretion to refuse any Transaction. Reasons for refusal may include but are not limited to an inability to match your registration information with your bank account details, incorrect Recipient details or an insufficient deposit amount. We generally will attempt to notify of you of any refusal, using the contact information provided as part of your registration, stating (where possible) the reasons for the refusal and whether the problem can be corrected. We will not notify you of a refusal where to do so would be unlawful.
We use agents and service providers to help us deliver the Service to you. All services provided by TransferWise or other agents or service providers are performed at our direction and subject to our supervision and control.
Once Transactions have been sent, they cannot be reversed, and, except as expressly set out in this Agreement, we will not be liable in any way for any loss you suffer as a result of a Transaction being carried out in accordance with your or a Sender’s instructions. If you believe there to be an error in connection with a Transaction or other problem as set out in this Section 15, then you should notify TransferWise Support at firstname.lastname@example.org or 1-888-908-3833.
“Business Day" for purposes of this Agreement means any day, other than a Saturday, Sunday, federal or New York state holiday, on which the Bank’s offices are open for business.
Neither we nor any of our agents, affiliates, holding companies, subsidiaries, employees, officers, directors, service providers, or subcontractors will be liable:
IN PROVIDING THE SERVICE TO YOU, NEITHER WE NOR ANY OF OUR AFFILIATES, HOLDING COMPANIES, SUBSIDIARIES, EMPLOYEES, OFFICERS, DIRECTORS, AGENTS, SERVICE PROVIDERS OR SUBCONTRACTORS, MAKES ANY EXPRESS WARRANTIES OR REPRESENTATIONS TO YOU WITH RESPECT TO THE SERVICE EXCEPT AS SET OUT IN THIS AGREEMENT, AND ALL IMPLIED AND STATUTORY WARRANTIES AND REPRESENTATIONS, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY OR NON-INFRINGEMENT ARE HEREBY EXPRESSLY DISCLAIMED TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW.
IN NO EVENT SHALL WE OR ANY OF OUR AFFILIATES, HOLDING COMPANIES, SUBSIDIARIES, EMPLOYEES, OFFICERS, DIRECTORS, AGENTS, SERVICE PROVIDERS OR SUBCONTRACTORS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY OR INCIDENTAL DAMAGES, WHETHER BASED ON NEGLIGENCE, WILFUL MISCONDUCT, TORT, CONTRACT OR ANY OTHER THEORY OF LAW, OR FOR ANY DAMAGES FOR LOSS OF DATA, LOSS OF INCOME, FAILURE TO REALIZE EXPECTED REVENUES OR SAVINGS, LOSS OF PROFITS OR ANY ECONOMIC OR PECUNIARY LOSS.
WE FURTHER DISCLAIM ANY AND ALL LIABILITY FOR ANY GOODS OR SERVICES BOUGHT OR SOLD BY YOU THAT ARE SETTLED THROUGH YOUR PARTICIPATION IN THE SERVICE.
You agree that we are authorized at any time to set-off the funds deposited with us against your debts or liabilities owed to us. We may exercise this right of set-off without notice to you.
We may amend this Agreement at any time by posting a revised version on the TransferWise website (a “Change”). In the event that there is a Change which happens during the time which we have agreed to perform a Service for you but the Service has yet to be fully completed, the original terms and conditions (prior to any such Change) shall apply until such Service has been fully completed or has been cancelled or terminated in accordance with this Agreement, except where a Change is required by applicable law to take effect sooner. For the avoidance of doubt, any Change relating to the addition of a new service, extra functionality or any such change which we believe in our reasonable opinion neither reduces your rights nor increases your responsibilities shall be deemed to be effective immediately. You are recommended to retain a copy of this Agreement at the time a Service is requested for your records. You also may request a copy from us of the version of the Agreement in effect at the time of a particular Transaction that you have requested by emailing email@example.com.
The Service is an electronic commerce relationship. In order for the Service to be provided to you, we must have your consent to provide access to required disclosures in electronic format. If you do not consent to electronic disclosure of these documents, then you may not use the Service. Your consent applies to all of the documents we provide to you electronically in connection with the Service, including receipts and notices.
Access to electronic disclosures will be provided by way of the Internet. Your history of use of the Service is available for viewing online from your account on the TransferWise website. In order to view these disclosures, you will need a hardware device that can access the Internet via modem or other form of connection. Your hardware device must run on an appropriate operating system. You must be able to access the Internet to access our website. Additionally, Internet browser software is required to access the disclosures from a personal computer.
If you require a printed copy of your full printed copy of your transaction history, you can request this by emailing firstname.lastname@example.org.
We recommend you download or print a copy of this Agreement for your records. You may download a copy of this Agreement in PDF format. This document requires Adobe Acrobat Reader for viewing.
If you consent to electronic access to documents, we are not required to provide you with paper copies. You may obtain these documents in paper form without charge by printing them yourself. If you decide to withdraw your consent for electronic disclosures, you must notify TransferWise at email@example.com or via telephone at 1-888-908-3833. Such notice will constitute notice of termination of your registration with us and preclude future use of the Service.
This Agreement is entered into in order to receive payments at the Bank, which you acknowledge is located in the United States, in the State of New York. This Agreement and any claim or controversy arising out of or relating thereto, including any claim against TransferWise in connection with the Service (collectively, a “Claim”) is therefore governed by the laws of the United States and the state of New York, without regard to conflicts or choice of laws principles, whether or not you live in New York.
YOU HEREBY CONSENT TO ARBITRATION OF ALL CLAIMS BEFORE A SINGLE ARBITRATOR. THE ARBITRATOR WILL BE SELECTED AND THE ARBITRATION CONDUCTED PURSUANT TO THE COMMERCIAL ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION (AND, IF APPLICABLE, THE CONSUMER ARBITRATION RULES THEREOF), AS THEN IN EFFECT (OR ANY SUCCESSOR RULES). NO “CLASS” OR SIMILAR GROUP ARBITRATION SHALL BE PERMITTED. ALL ARBITRATION HEARINGS OR SIMILAR PROCEEDINGS SHALL BE HELD IN NEW YORK, NEW YORK, ALTHOUGH YOU MAY ELECT TELEPHONIC PROCEEDINGS OR WAIVE ANY HEARING. The AAA Commercial Arbitration Rules and Consumer Arbitration Rules are available for review at: https://www.adr.org/aaa/faces/rules (click Rules, then click Commercial Arbitration Rules and Mediation Procedures, or Consumer Arbitration Rules, respectively).
Any arbitral award shall be final and binding and may be enforced by any court of competent jurisdiction.
You understand that, in return for your agreement to this Section, we are able to offer you the Service at the terms designated, and that your assent to this Section is an indispensable consideration to this Agreement. You also acknowledge and understand that, with respect to any Claim:
This Section is made pursuant to a transaction involving interstate commerce and will be governed by the Federal Arbitration Act, 9 U.S.C.1-16.
If any provision of this Agreement is held to be invalid or unenforceable, such provision will be deemed to be modified to the minimum extent necessary to make it valid and enforceable and the rest of this Agreement will not be affected.
You may not transfer or assign this Agreement to any other person without our prior written consent. We may assign our obligations to you under this Agreement without your consent or any prior notice.
This Agreement may be provided to you in English or any other language that we support. For the avoidance of doubt, any non-English version of the Agreement is provided for translation purposes only. In the event that any conflict arises between the English and non-English versions of the Agreement, the English version shall prevail.
This Agreement and any document expressly referred to in it constitutes the whole agreement between us and supersedes any previous discussions, correspondence, arrangements or understandings between us.
If you have any problems using the Service, you should contact TransferWise Support at 1-888-908-3833 (tel) or firstname.lastname@example.org. Any notice of legal claim or other process pursuant to this Agreement shall be delivered via email to email@example.com or via post to:
Community Federal Savings Bank
89-07 Jamaica Avenue
Woodhaven, New York 11421
Attn: CFSB Compliance