TERMS AND CONDITIONS – NOCHEX PERSONAL ACCOUNT

We want to make sure that you are happy and comfortable using the Nochex Emoney payment system. We are conscious of our legal obligations to you and your rights as a user of our web site.

The account type referred to as Nochex Personal accounts was previously known as a Nochex Standard accounts, the account name was changed on 6th February 2006.

To help you better understand Nochex we have set out a description of the service we offer together with the terms and conditions of the contract that will apply to your Nochex Personal account. You should make sure that you read both the service arrangements and the terms and conditions carefully.

With the exception of clause 7.1 and clause 7.2 all references to Nochex Personal account shall apply equally to Nochex Personal Plus account. Clauses 7.1 and 7.2 do not apply to holders of validated Nochex Personal Plus accounts.

I. THE NOCHEX SERVICE (Nochex Personal account and Nochex Personal Plus account)

1. The Service

1.1 The Nochex Personal account service allows you to Send and Receive Emoney payments using your Nochex Personal account. Once you have successfully registered with us and your account has been activated, you may instruct us to make an Emoney payment by entering the following details on the "Send Money" page of the Nochex website: -

1.1.1 The email address of the person or business who is to receive the payment (the recipient); and

1.1.2 The amount of Emoney you wish to send; and

1.1.3 An optional message, if you wish to add a reference to your Emoney payment.

1.2 If you wish to send Emoney from your Nochex Personal account, providing that the proposed Emoney payment:-

1.2.1 does not exceed the balance in your Nochex Personal account; and

1.2.2 would not take the recipient’s Emoney balance above the limit for that account

once we have received your instructions we will immediately Send the Emoney payment to the recipient’s Nochex account, and notify you both that we have done so.

1.3 If you wish to “Transfer ” using your Nochex Personal account, the value of Emoney purchased will be charged to your selected card, providing that the proposed Emoney payment:-

1.3.1 meets the Nochex criteria; and

1.3.2 would not take the recipient’s Emoney balance above the limit for that account

once we have received your instructions we will immediately send the Emoney payment to the recipient’s Nochex account, and notify you both that we have done so.

1.4 If the recipient does not yet have a Nochex account, we will also send them an email asking them to register and activate an account with us in order to receive the Emoney that you have sent to them. As soon as the recipient of Emoney sent by you has completed the registration process, your transaction to Send Emoney to them will become irrevocable and can not be cancelled by you.

1.5 Is you are Receiving Emoney from another Nochex account holder, providing that we believe that you have acted in good faith, if a chargeback claim arises as a result of the Nochex account holder maintaining that they did not authorise the transaction to purchase Emoney, Nochex will assume from you the responsibility for refunding the cardholder.

However, in all other circumstances if a payer’s Emoney purchase transaction that is credited to your account is subject to chargeback you agree that you are responsible for refunding the payment. If a chargeback occurs on an Emoney payment made to your account, we may debit your account balance to pay for it and at our choice may close or restrict your account. In addition we reserve the right to employ other commercial or legal means to recover any shortfall arising where the balance in your account is insufficient to repay such a chargeback.

2. Membership Eligibility

2.1 You must be at least 16 years old to use the Nochex Personal service, however it is a mandatory condition of holding a Nochex Personal account that you agree not seek to purchase adult goods, content or material using the Nochex Personal service unless you are at least 18 years old.

2.2 You must at all times have a valid email address to which information from us can be sent to you. Anyone who you instruct us to Send Emoney must also have a valid email address.

2.3 You must hold a valid debit card issued by a UK bank or a valid credit card where statements are sent to your UK home address.

3. Registration Process for the Nochex Service and activation of your Nochex Personal account

3.1 You must first register your details with us to apply to open a Nochex Personal account. Any information you give to us in relation to your Nochex Personal account must be accurate and true.

3.2 In order to register, you will need to:-

3.2.1 Tell us your name, email address, date of birth and home address.

3.2.2 Give us a password, which you will need to operate your Nochex Personal account. Please note that the password must be no longer than 14 characters and is case sensitive. You will need your password in order to access your account. It is a mandatory condition of you having a Nochex Personal account that you keep your password secret at all times.

3.2.3 Register a password hint and the answer to a security question. If you forget your password we will use your hint to remind you of your password. If your password hint does not help you remember your password, Nochex Customer Support will reset your password and require you to confirm proof of your identity to re-enable the account.

3.2.4 Confirm your email address. We will send a one time registration code to the email address you have given us and you must use that code to confirm that you can access email at that address. When you have successfully confirmed your email address, your Nochex Personal account will allow you to receive money from other Nochex members.

3.2.5 Indicate your acceptance of the Nochex Personal account terms and conditions

3.2.6 In order to purchase Emoney using your Nochex Personal account or Send Emoney to anyone with an email address you must first successfully register either your bank debit card or a suitable credit card.

3.2.7 You may not use your registered credit card to Load Emoney into your Nochex Personal account; however you may use your credit card to make “Transfer” payment.

3.3 In addition, if you also wish to redeem Emoney and Withdraw from your Nochex Personal account you will need to successfully register your bank account. It is most important that you correctly register your personal bank account details since if you register incorrect details you do so at your own risk and this may result in your redemption of Emoney being delayed or lost within the banking system.

3.4 You can only have one debit card registered with your Nochex Personal account at any one time and that debit card must be issued by a UK bank. You may only have one credit card registered with your Nochex Personal account at any one time and the statement for that credit card must be sent to a UK address. If you choose, you can have both an eligible debit card and a credit card registered with Nochex at the same time.

3.5 If you wish to redeem Emoney and make a Withdrawal, you can only have one bank account registered with your Nochex Personal account at any one time and that bank account must be held with a UK Financial Institution.

3.6 When you register a card, in order to confirm that you are the authorised owner of the each of the card details you have given to us, as part of the registration process we will make a small (£1.99 or less) random load from that card that your are registering. In the case of a debit card this will be from the bank account to which your debit card is registered. By registering your card, you consent to us making this administrative charge.

3.7 Subject to daily and weekly limits, once you have successfully confirmed on the Nochex website the amount of the security load, you will be able to use your card to purchase Emoney in accordance with these terms and conditions.

3.8 If you decide to register a bank account, subject to daily and weekly limits, you will be able to redeem Emoney and Withdraw from your Nochex account to your registered bank account.

3.9 Your Nochex Personal account includes a stored value account. The balance of your account may not exceed the Personal account limit, which is currently £90.

3.10 Other than as outlined in Clause 15, the information you give to us about yourself and your card details and your bank account details (if you decide to register these) will at all times be kept secure and confidential.

3.11 Nochex reserves the right at their absolute discretion to apply an administration charge of no more than £5.00 per quarter on dormant accounts.

4. Purchasing Emoney with your Nochex Personal account

4.1 When you first complete your registration with us you will have a probationary period during which you will be limited to purchasing a cumulative maximum of £300 worth of Emoney. At the expiry of the probationary period you will automatically move to the Personal load limits as set out in clauses 4.2 and 4.3.

4.2 The minimum amount of Emoney that you can purchase with your debit card and load into your Nochex Personal account in a single transaction is £1 and the maximum that you can purchase in a single transaction is the lower of £90 or an amount that when added to your current balance will equal £90. (Thus if your current balance is £20 the maximum purchase of Emoney will be £70).

4.3 The minimum amount of Emoney that you can purchase from your registered card, either from your debit card or credit card, and then “Transfer” using your Nochex Personal account in a single transaction is £1 and the maximum that you can purchase in a single transaction is £300.

4.4 Subject to the load limits referred to in 4.1 and the balance limitation referred to in clause 4.2 and 4.3 the maximum amount of Emoney that you can purchase in a series of transactions is the lower of £300 per day and £1,000 per seven days, however Nochex reserves the right to modify these limits on a case by case basis.

4.5 Any amount Loaded by you into your Nochex Personal account will be charged to your bank account via your authorised debit card.

4.6 You are not able to use your registered credit card to Load into your Nochex Personal account however you are able to use your registered credit card to make Transfer transactions to other Nochex accounts.

5. Redeeming Emoney and Withdrawals from your Nochex Personal account

5.1 For security reasons transaction limits apply to all Nochex Personal accounts. These limit the amount of Emoney that can be redeemed and Withdrawn in any day and also within any seven day period. Nochex Personal account holders can apply to Customer Support to have these transaction limits varied.

5.2 Unless you are closing your account, the minimum amount of Emoney that you can redeem and Withdraw from your Nochex Personal account in a single transaction is £1 and the maximum amount is your account balance.

5.3 Any amount Withdrawn by you from your Nochex Personal account will be transferred to your registered bank account using the BACS system. Any monies in your Nochex account will only be repaid to your registered bank account.

6. Sending Emoney

6.1 Your Sending limit is limited to the amount of Emoney in your Nochex Personal account.

6.2 Once your card has been successfully authorised, you can purchase Emoney from your bank account (via your registered debit account) and have this loaded into your Nochex Personal account.

6.3 The minimum single Emoney Send (i.e. Emoney you can send to someone other than yourself) is 22 pence.

6.4 If the recipient of your Send or “Send from card” transaction holds a Nochex Personal Account the amount that you may Send to them will be restricted so that the balance of their account may not exceed £90.

6.5 Any amount Sent by you using your Nochex Personal account will be transferred to the Nochex account of the person to whom you ask us to Send a payment.

7. Account Limit

7.1 If you successfully completed your application for a Nochex Personal account and also verified your card before the 16th June 2004 your Nochex Personal account will carry a cumulative turnover limit of £9,000 and may not be used beyond that limit. If you completed your application and card verification on or after the 16th June 2004, the cumulative turnover limit will be £5,000 and may not be used beyond that limit.

The cumulative turnover limit is the greater of the total Sends plus Sends from Card or the total of all forms of Receives. You will not be able to use your Nochex Personal account for turnover in excess of your turnover limit.

7.2 However, if you expect to exceed the relevant cumulative turnover limit detailed in condition 7.1, you may AT ANY TIME apply for a Nochex Personal Plus account by emailing Nochex Support who will advise you of any additional information and identification required to process your application. There is no charge made for such a change. Acceptance of your application for a Nochex Personal Plus account is at the sole discretion of Nochex.

8. Currency

8.1 Currently all Nochex transactions are denominated in UK Pounds Sterling.


II - NOCHEX TERMS AND CONDITIONS

1. Current Nochex account Charges

1.1 It is free to open a Nochex Personal account.

1.2 There is an administrative charge of between £0.01 and £1.99 for registering a card.

1.3 There are no charges to you for Sending Emoney in your Nochex Personal account to another Nochex member or to someone who has not already registered for a Nochex account.

1.4 There is no charge for Requesting money from another Nochex member or from someone who has not already registered for a Nochex account.

1.5 There is a charge for Receiving Emoney into your Nochex Seller account from another Nochex member. This charge is twenty pence plus 2.9% of the amount of Emoney received.

1.6 There is no charge either for purchasing Emoney and Loading from your bank account (via your registered debit card) into your Nochex Personal account or for making a “Transfer” transaction

1.7 For Withdrawals of £50.00 and more, it is free to Withdraw money from your Nochex Personal account to your registered bank account. For Withdrawals of less than £50.00 there will be a transaction charge of £0.25 for making a Withdrawal.

1.8 There is no charge for applying to upgrade from a Nochex Personal account to a Nochex Personal Plus account

2. Closing Your Nochex Personal Account

2.1 You may close your account at any time by emailing us. Your account will be closed within 10 days of us receiving your email. If you do not have a current valid card or bank account registered you will be required to provide satisfactory proofs of identification before repayment of the account may be made which may be by way of a cheque made out in your registered name sent to your registered address. Nochex reserves the right to ask you to submit satisfactory additional identification before the balance of any account for which you are requesting closure is repaid.

2.2 If you do not access your Nochex Personal account for 180 days or longer we may notify you at your last notified address of our intention to close your account. If we do not receive any instructions from you to the contrary, we may close your Nochex Personal account on 31 days notice after the deemed date of receipt of our notification to you.

2.3 We may otherwise terminate our contract with you and close your Nochex Personal account on 14 days notice. Please also read the terms below in relation to where we may terminate or suspend your account immediately due to suspected criminal use of your Nochex Personal account.

2.4 We may close your account immediately if at any time we reasonably think that:-

2.4.1 You have given us any false information in connection with any Nochex account;

2.4.2 Your account is being or has been used illegally (by you or by someone else); or

2.4.3 You have been in persistent breach of these conditions.

3. Refunds

3.1 If a payment is made to an existing Nochex account holder, payment is made immediately and it is for this reason that it cannot be cancelled once we have received your payment instructions.

3.2 Where payments are not collected by the recipient (they have not completed the verification of their account), such payments may be cancelled by you in these circumstances, and the money will then be returned to your Nochex Personal account. If such a payment remains uncollected by the recipient for more than 90 days, Nochex reserves the right to make an administrative charge at the rate of up to £5.00 per quarter.

4. Responsibilities of Nochex

4.1 We will be responsible to you for any loss or damage you may suffer which results directly from any unauthorised access to your Nochex Personal account as long as we could have reasonably prevented such unauthorised access.

4.2 Where any Emoney is deducted fraudulently from your Nochex Personal account as a result of Nochex direct negligence, we will reimburse all such Emoney that has been taken from your Nochex Personal account without your knowledge or consent back to your Nochex Personal account.

4.3 Should any sums have been deducted fraudulently from your registered card, we shall not be liable to repay any sums to you. It is the responsibility of your bank or card issuer to ensure that these sums are refunded back to you.

4.4 We will not be responsible to you for any loss or damage you may suffer where we refuse to or are unable to carry out your instructions and our refusal or inability is allowed under these Conditions.

4.5 We may be unable to carry out your instructions due to circumstances beyond our reasonable control, for example if there is a server outage. If this happens, we will carry out your instructions as soon as we are able to do so but we will not be responsible to you for any losses that you may suffer.

4.6 Nothing in these Conditions limits our liability for death, personal injury caused by our negligence or any deliberate misrepresentations made by us to you.

4.7 Nochex will always try to ensure that your Emoney payments are properly made. However we will be unable to complete payments using your Nochex Personal account where:

4.7.1 You do not have sufficient Emoney in your Nochex Personal account;

4.7.2 If completed the transaction would have taken your account over the Nochex Personal account limit;

4.7.3 If completed the transaction would take another Nochex Personal account over the Nochex Personal account limit;

4.7.4 Any request to purchase Emoney and Load from your registered card is refused;

4.7.5 We reasonably believe that you may be involved in criminal activity;

4.7.6 You have provided us with incorrect or out of date information; or

4.7.7 There are circumstances beyond our reasonable control, which do not allow us to send the payment promptly.

4.8 Nochex will not be liable for any charges, taxes or other duties in relation to any goods and services paid for by you using your Nochex Personal account.

5. Disputed Payments

5.1 It is your responsibility to ensure the correct identity and email address of the person to whom payment is sent.

5.2 You should note that in particular all payments made by you are final and not reversible once the recipient has received the payment sent by us in accordance with your instructions.

5.3 Where you dispute a transaction between you and another party, Nochex will not enter into any payment disputed by you and any other person other than to confirm that the payment was made in accordance with the instructions you gave to us. We cannot arrange for money to be given back to you where you believe the payment was made incorrectly by you.

5.4 We are not responsible for any goods, services or content paid for by you using the Nochex Service.

6. Password & Security Issues

6.1 We will use all reasonable measures to keep secure and to prevent unauthorised access to our Internet service and your Nochex Personal account.

6.2 It is your responsibility to keep your password safe and secure. For this reason, you must never: -

6.2.1 Make written records of your password unless you have disguised them so that they cannot be understood by anyone else; or

6.2.2 Tell anyone your password or allow anyone else to use your password to access your Nochex Personal account.

6.3 You must contact us immediately if: -

6.3.1 You think that someone else knows your security details or password;

6.3.2 If you have forgotten your password and still cannot remember it after we have sent you your password hints. If this occurs, your security details can be used to reset your password but you will need to contact us in order for us to carry this process out;

6.3.3 You think that someone else is trying to use your account; or

6.3.4 You believe the security of your Nochex Personal account has been affected in any other way.

6.4 Until you tell us to the contrary, all instructions received by us from your email address and using your Nochex security credentials will be deemed to have been made by you. For this reason, you must both notify us immediately if you suspect that your email address and password have been used fraudulently and immediately change your password.

6.5 Where you have not kept your security details and password a secret, you will be responsible for any losses from your Nochex Personal account.

6.6 To keep you informed of any possible security breaches, we will email you if either you or someone else has attempted to login to the Nochex website with your email address and an incorrect password.

7. Payment Instructions

7.1 You alone are responsible for the instructions you give to us and for this reason we may not be able to detect errors in your instructions to us.

8. Account Opening

8.1 If you open a Personal account with Nochex it is important that you understand that: -

8.1.1 Our service is limited to providing you with a secure Emoney payment facility. For this reason, we do not have any responsibility for any goods services or content for which you pay using the Nochex Personal account service;

8.1.2 Use of the Nochex Personal account service does not ensure the quality, safety or legality of the transaction you are undertaking;

8.1.3 We are not a bank and as such are not subject to UK banking rules and regulations. Nochex is however an e-money issuer and we do operate within the rules of the Small E Money Issuers Certificate granted by the Financial Services Authority;

8.1.4 In order for us to run our business both lawfully and properly, in exceptional circumstances or, if we reasonably believe that you are deliberately trying to defraud Nochex, defraud another Nochex user or defraud a third party, we may suspend your right to access your Nochex Personal account for up to 90 days. We will try to give you notice as soon as possible if this happens although we may not be able to tell you beforehand. If you want to take money out of or close your Nochex Personal account when it is suspended, we will act on your instructions at the end of the suspension period; and

8.1.5 We are not an escrow service which means that we will not hold any Emoney belonging to you which you may wish to pay to another if a certain event occurs. For example, if you buy goods in an auction, we will not hold any Emoney on your instruction that we should only pay the recipient when you have received the goods you have bought.

9. Notifying You of an Emoney Payment

9.1 You will be informed on the website that your instructions have been received by us. We will also send an email to both you and the person due to receive payment once the Emoney payment has been sent. You can assume that the payment has been sent when confirmation is displayed on the Nochex web-site. We require valid email addresses to ensure that you receive notification of any transactions that you make. It is for this reason that we require a valid email address and we will not be responsible for any undelivered email communication or any payments you may make to maintain Internet access or a valid email address. You must for this reason promptly notify us of any changes to your email or postal address.

10. Time of Payment

10.1 Subject to you holding sufficient Emoney funds in your account, we will if provided with the correct details as described in paragraph 1 of the Nochex Service Arrangements, send any Emoney sums you request to be made immediately unless there are circumstances beyond our reasonable control. If this happens, we will transfer the appropriate sums as soon as we are able to do so.

11. Transaction Limit

11.1 As a security measure, we may impose reasonable transaction limits on your Nochex Personal account and we will let you know in advance where this occurs. For this reason, we cannot be responsible for any payments that are not made because of any security measure limit notified to you in advance of any payment instructions you send to us.

12. Criminal Activity

12.1 We can refuse to act on an instruction if for any reason: -

12.1.1 We think that it was not given by you;

12.1.2 The instruction is not clear;

12.1.3 The instruction might cause us to breach any law or any contracts which we may have with others; or

12.1.4 If we reasonably think that your Nochex Personal account is being or may be used for illegal purposes.

12.2 You must not hack, modify, tamper nor corrupt either the Nochex website or your or any other users Nochex account. We may close or suspend your account and terminate our contract with you immediately if we reasonably believe that you have attempted to tamper with our website or systems.

12.3 We may monitor all transactions, refuse or prevent withdrawals or payment instructions or terminate our contract with you immediately where we reasonably believe that you have used your Nochex Personal account for criminal reasons. You may also be liable to face criminal prosecution.

13. Acceptable Use Policy

13.1 It is an explicit condition of use of the Nochex Service that you will not use or attempt to use the service or allow others to you the service for any activity that is illegal within the UK.

13.2 It is a mandatory condition of registration to and use of the Nochex Service that you agree that you will adhere to the Nochex Acceptable Use policy, as this policy may change from time to time and a current copy of the Acceptable Use Policy can be reviewed by you on the Nochex web site at www.nochex.com.

13.3 The Nochex Acceptable Use policy covers a range of activities that are deemed by Nochex to be unsuitable for use in conjunction with the Nochex Service. Some of these activities are or may under certain circumstances be illegal in the UK, whilst others although legal may be considered inappropriate for processing with the Nochex Service. Included, but not exclusively, in the activities which are not deemed suitable for processing with the Nochex Service are Gambling, Betting, the purchase sale or exchange of prepaid credit and debit cards, EGold and Adult products content or services including R18 videos or DVDs.

14. Changes to the Contract

14.1 From time to time at our absolute discretion we may change the arrangements for use of the Nochex site and account. Where you do not agree with any changes, which we make, you have the right to terminate your account immediately. In the event of account closure we will refund the balance of your Nochex Personal account to your bank account that you have registered with us. If you haven't registered a bank account with Nochex on provision of suitable proof of identity, we will refund your balance by Cheque. You should ensure that you read any changes and if you have any questions as to how they may affect you, do not hesitate to email us with your queries.

15. Data Protection

15.1 Nochex are certified by the Financial Services Authority as a small e-money issuer and registered with HM Customs & Excise as a Money Service Business (Registration Number 12126734). As a UK financial service, we have an obligation by law to ensure we meet with industry requirements to combat crime and prevent money laundering. One of these obligations is to ensure we satisfactorily identify our users.

From time to time Nochex may therefore ask you to provide proofs of identification. Failure to provide acceptable proofs of identity will lead to the suspension or closure of your Nochex account and freezing of all monies therein. Identification will always be sought of the registered debit card holder and where applicable the registered credit card holder and the registered bank account on the Nochex account at the time of our request.

15.2 Where you send us any details about yourself or others, we will ensure that we hold this information in accordance with the Data Protection Act 1998.

15.3 We are legally obliged to verify your identity to prevent money laundering. This may involve checking the details you supply against those held on any database Experian – the credit reference agency – has access to. This includes information from the Electoral Register and fraud prevention agencies. We will use scoring methods to verify your identity. A record of this search will be kept and may be used to help other companies to verify your identity. We may also pass information to financial and other organisations involved in fraud prevention to protect ourselves and our customers from theft and fraud. If you give false or inaccurate information and we suspect fraud, we may record this and share this information with other organisations. By agreeing to accept our Terms and Conditions, you give us authority to undertake such a search if we require.

15.4 We may also contact your bank to confirm that the name and address you have supplied us with in relation to the debit card you have registered on your Nochex account corresponds with the records held by your bank.

15.5 We reserve the right to charge you a fee of up to £2 in respect of any identification checks we have to complete on you. We also reserve the right to receive the necessary authorisation from your Bank to confirm that monies are available in your account to cover any fee we intend to take. Any fee we apply will be advised to you by email before it is actually debited to your bank account and our checks are concluded.

16. Other Points to Note

16.1 If either you or we are in breach of these arrangements neither of us shall be responsible for any losses that the other suffers as a result except those losses which are a foreseeable consequence of the breach. The charge We make to you for use of your Nochex Personal account assumes that you are using the account for personal and not business use. For this reason if you use your Nochex Personal account for business or commercial reasons, we cannot accept responsibility for any loss of profits that you may suffer as a result of any breach under these arrangements.

16.2 Nochex and you are the only parties who may rely on or enforce these Conditions and for this reason the Contract (Rights of Third Parties) Act 1999 is excluded.

16.3 The Terms and Conditions of this Agreement and the relationship between you and Nochex shall be governed by the laws of England. All disputes, controversies and claims arising out of or relating to the Nochex Service or to these Terms and Conditions shall be resolved by the English courts.

6th February 2006


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