Terms of service

Last updated 5th March 2012

This legal Agreement describes the terms and conditions of your membership and your use of the "www.payexchanger.com" website for natural and legal persons. Before any operation of the service "www.payexchanger.com", user must read and accept all the conditions described in these Terms of Service. In case of disagreement with conditions of the given agreement, the client has no right to perform any operations on the www.payexchanger.com website service.

The agreement is for public access on the Internet at https://www.payexchanger.com/terms-of-service.aspx and can be changed at any time, by the "www.payexchanger.com" Service Administration unilaterally without prior notice.

1. Definition of Terms

1.1. Exchanger - hardware-software complex "www.payexchanger.com", located on the Internet at https://www.payexchanger.com. Exchanger provides sell/buy and exchange services of various electronic currencies.
1.2. Payment System - software and hardware system developed by a third party (electronic currency processor) for an online settlements between users. At this point Exchanger is working with the following electronic currencies: Libery Reserve, Perfect Money, QIWI, Ecoin, OKPAY, ePayService, Paxum, Yandex.Money, Webmoney, RBK Money, AlertPay, PayPal, CashU, Telemoney, W1, etc.
1.3. Client - person or a company who uses Exchanger services.
1.4. Operation - any purchase/sale or exchange operation of electronic currency, performed by Client on Exchanger’s website.

2. Subject of Agreement

2.1. The subject of this Agreement are the following services available to Clients: exchanging of e-currencies in the manual and automatic processing mode, purchase and sale of electronic currencies, etc.
2.2. Exchanger provides services to any active and valid users of supported Payment Systems.
2.3. Exchanger can not supervise the Client operations in any Payment System. At the same time, to prevent money laundering and potential fraud Exchanger may request a Client to provide additional documents confirming Client's Identity and legality of the source of funds.
2.4. Exchanger is responsible for Client's funds received on the time of the Operation only. Once the Operation is successfully completed and Client received the funds, Exchanger disclaims any responsibility for the use of the funds received by Client.
2.5. In Operations where third party is involved as a sender or recipient of the electronic currency for any product or service, Exchanger is not responsible for the quality and speed of delivery of goods or provision of services offered by the third party. Exchanger is responsible for the timely provision of it's own services to the Client.
2.6. In case of detection of any illegal action of Client that have caused financial loss to Exchanger, Exchanger reserve the right to compensate these losses from the Client by any available means. In some cases, Exchanger can request to block user accounts in Payment System(s). Corresponding request will be made to the administration of Payment System(s) used by the Client.
2.7. If the Client violated any of these Terms of Service, Exchanger reserves the right to return the funds back excluding our commission fee for the Operation, as well as the cost of money transfer in Payment Systems used to the return of the funds back to sender (Client).
2.8. Exchanger does not bear the responsibility and does not compensate the losses which have arisen at misuse of service and also mistakes of the client accomplished at filling of the form of an exchange which can lead to transmission of funds into wrongly specified account. Claiming back wrongly sent funds is a duty of a Client and any costs are on Client's own expenses. PayExchanger commission in such cases will be $10 USD.
2.9. All Exchanger Operations are irreversible and non-refundable if the Operation is completed successfully. Return of the transferred funds after the operation has been completed is not possible.
2.10. Exchanger offers automatic services 24 hours a day, seven days a week. Manual exchanges are processed during business hours, according to Exchanger schedule available on Exchanger website.
2.11. Exchanger reserves the right to increase or decrease the time of the Operation, depending on several factors such as availability of services of Payment Systems and the availability of electronic currency reserves. Client must organize a business or private needs in a manner that does not depend on the speed of Operation. Exchanger is making every effort to ensure that Operations will be processed in the target dates. However, under no circumstances, Exchanger is not liable for the consequences of the issues or losses which have resulted due to the delay of the Operation.

3. Fees and Taxation

3.1. Fees and international currency exchange rates are set by the Administration of Exchanger and can be changed without any prior notice.
3.2. Exchanger is not a tax agent and would not notify the Client of any possible tax costs in the use of the Exchanger. Using the Exchanger, the Client alone is responsible for the payment of taxes in accordance with the tax laws of the current country of residence.
3.3. Cryptocurrency fee is calculated and updated frequently. If the customer has requested exchange at one rate, and the rate has changed while the payment was not completed, the final exchange rate will be recalculated in accordance with the current rate.
3.4. In certain cases when the Client specified incorrect credentials and the exchange hasn't been processed automatically, Exchanger reserves the right to apply a fee in the amount of $10 USD for fixing the exchange information and further manual transaction processing. If Client does not contact Exchanger support and provide requested information within 3 months from the date of the exchange - Exchanger reserves the right to cancel the exchange request and witheld the funds.
3.5. If the Client decides not to complete requested verification procedures (according to the clause 7.2 of the agreement) and would like to cancel the exchange request, Exchanger reserves the right to apply a fee in the amount of $10 USD for refund processing.
3.6. If the Client creates an exchange request and instead of the full exchange amount sends the amount less than our exchange minimum, Exchanger reserves the right to withhold received funds and cancel the exchange reques.
3.7. Regardless of the exchange amount the maximum one-time affiliate bonus is $5 USD.

4. Privacy Policy

4.1. Exchanger guarantees and ensures the confidentiality of Client's information and Operations performed by Client. All information of the operations is transferred from the Client to the Exchanger server via the SSL protocol with 256-bit encryption, which makes it almost inaccessible by third parties.
4.2. Disclosure of Client's information and his Operations is possible only after appropriate request from the public authorities, or Payment Systems and financial services cooperating with Exchanger.
4.3. Exchanger collects basic contact information when Client subscribes to a newsletter or fills in a contact form. This information will be used for administrative and identification purposes only and will not be shared with our partners or third parties. Personal information is stored on Exchanger servers and is only accessed by authorized Exchanger personnel.
4.4. Exchanger uses cookies to store your visiting and referrer information. Cookie is a small text file, stored on Client's computer hard drive, that can be read by Exchanger system when you return to Exchanger website.
4.5. Exchanger also collects general demographic information about visitors of the website. The information Exchanger collect creates a broad picture of the visiting contingent rather than focusing on any of the individuals. This information is used to continually refine Exchanger products and to identify the most popular areas of our site.
4.6. Exchanger hosts a chat and discussion area on the website environment. Any information divulged in that area may be observed by other people and should not be considered secure. Exchanger is not responsible for the actions of website visitors. Exchanger cannot be responsible for maintaining the privacy of correspondence carried on outside editorial environment.

5. Resolution of Disputes

5.1. Any disputes between Exchanger and Client are resolved in a user-friendly negotiations. If the dispute can not be resolved this way, it will be reviewed in a court at the place of registration of the Exchanger.

6. Force Majeure

6.1. Exchanger is not responsible for delays or failures in the handling of operations arising as a consequence:
- Any problems in the telecommunications, computer and other systems;
- Force majeure action of Payment Systems (block or closure of the accounts, freezing or holding of funds, denial of service);
- Change of political regimes, civil strife;
- Actions of third parties, which are beyond the control of the Exchanger

7. Anti-Money Laundering

7.1. Exchanger is entirely prohibits the use of the services for money laundering.
7.2. Certain exchange directions may require manual processing within Exchanger business hours as well as additional verification steps. Depending on the type of transactions, Client may be requested to go through the verification process with the following methods:
- email validation;
- mobile phone verification;
- providing proof of identity and photoID;
- providing proof of residential address.
7.3. Exchanger reserves the right to hold/stop or cancel the transaction and escalate all the information and received funds from the Client to the appropriate legal authorities and/or police in case of reasonable suspicion or evidence in Anti-Money Laundering or any other fraudulent operations.