Vezmo Accounts Terms

These terms apply when your business uses Vezmo Accounts: receiving details, balances in several currencies, conversions and sends. They add to our Terms of Service. If they conflict on Vezmo Accounts, these terms apply. Stablecoin has its own Stablecoin Terms.

Our partners receive, hold, convert and send the money, under their own licences. Vezmo provides the app, the records, verification, support and the instructions to our partners. You appoint Vezmo as your agent to give our partners instructions for your business: to receive money, convert it and send it. As your agent we act only on your instructions and these terms, and owe you only the duties these terms and the law set.

You have no separate agreement with our partners unless we ask you to accept their terms, which we show you before you use the service. Our partners have no direct liability to you under these terms. We may change partners. If a change affects your receiving details or anything else you must act on, we tell you as early as we can, in advance where possible.

Where the law requires us to tell you which partner provides a service, we will.

Your business must be verified first, and our team and our partners must approve your application. We may refuse an application, or offer only some currencies or features, without giving a reason where the law or a partner requires.

You authorise us to share your business’s verification information, including about its owners and directors, with our partners so they can open and run your accounts and meet their own legal duties.

We give you receiving details (such as an account number and routing code, or an IBAN) in supported currencies, so your customers and partners can pay you. They let you receive money into an account held by one of our partners, which we then credit to your balance. They are not a bank account in your name.

Your balance shows the money in each currency that belongs to your business, after fees, holds and amounts owed. Only your business is entitled to it. You can’t pledge it or give anyone else a claim over it, other than the rights you give Vezmo in the Terms of Service.

We may hold part or all of your balance, or freeze your Vezmo Accounts, as the Terms of Service describe: while we review a payment or activity, if we think it’s needed to cover a loss you may owe, or when the law or a partner requires it. We will usually tell you about a hold, unless the law or a security risk prevents it. Held money earns no interest.

If your balance goes negative, for example after a returned payment, you must add money to cover it at once. We may take what you owe from any of your balances or incoming money.

When you convert money, or send in a different currency from your balance, we show you the rate and any fee before you confirm. The rate already includes any margin we add. Rates move constantly, so a rate is fixed only for the time we show.

Once you confirm, a conversion can’t be cancelled. Vezmo is not a currency trading platform: don’t use it to speculate on exchange rates. If we think you are, we may limit conversions.

Our fees for Vezmo Accounts are shown in the app, and any fee for a transaction is shown before you confirm it. We take fees from your balance. We give you at least 30 days’ notice before we raise a fee or add a new one for something you already use.

Your transactions and statements are in the app, where you can download them. Check them regularly.

Keep your sign-in details and devices secure, and only give access to people you trust. Tell us at once if you think someone used your account without permission, or if a transaction looks wrong.

Tell us about an unauthorised transaction or error within 60 days of the date it appears in your account. If you tell us later, we will still look into it, but we or our partners may not be able to recover the money. This doesn’t shorten any longer period the law gives you. Because Vezmo Accounts are business accounts, consumer protection rules for personal accounts (such as Regulation E in the United States) don’t apply.

Instructions given through your account’s sign-in and confirmation steps bind you, as the Terms of Service describe. You are responsible for transactions made with your sign-in details or API keys or by your team members, unless we failed to follow those steps.

If your Vezmo Account has no activity and no sign-in for 2 years, we may close it after trying to reach you. If we can’t return your money, unclaimed property law may require us or our partners to send it to a state. That is usually the state of your last known address; if your address is outside the United States or unknown, it is the State of Delaware. You can then claim it from that state.

You can close your Vezmo Accounts at any time in the app or by asking us. We may close them with 30 days’ notice, or at once where the law, a partner, a risk to us or others, or a breach of our terms requires.

When they close, we pay your available balance to an account in your business’s name after our checks are complete. Money may stay held for as long as reasonably needed to cover returns, disputes or amounts you owe, or as the law requires.

The disclaimer and the limits on liability in the Terms of Service apply to Vezmo Accounts. Vezmo is not liable for delays or failures of banks, payment systems or partners outside its control, for exchange-rate movements, or for losses from details you gave us.

We give you at least 30 days’ notice before a change to these terms that is bad for you, unless the law or a partner requires a faster change. Exchange rates can change at once. If you don’t agree to a change, you can close your Vezmo Accounts before it takes effect, free of charge.