Terms and Conditions

 

UNITED KINGDOM (UK) Terms and Conditions for Riz Remit Digital Money Transfer Services

 

You agree to be bound by these terms and conditions if you use our services. You consent to the implementation of the money transfer and acceptance of the terms and conditions by initiating a send or receive transaction either through an agent location/partner or through our mobile app or online through our web portal. 

 

The terms and conditions are legally binding, and you must read all the terms in their entirety. There are also provisions covering termination of our commitments, limited liability, and exemptions from our liability for damages. 

 

Our Terms and Conditions use the following definitions:
 

a.	“You”	“Yours” or “Your” refers to every and any person using the Riz Remit Website as a Sender.
b.	“Riz Remit Website”	“Riz Remit Website” or “Website” refers to the Website which We operate in order to provide money transfer services and to the Riz Remit Mobile Application
c.	” Riz Remit® Online Service”	” Riz Remit® Online Service” refers to money transfer services that We provide through the Riz Remit Website or its mobile application (“Riz Remit Mobile Application”);
d.	“We “, “Our” or “Us”	“Riz Remit “, “We “, “Our” or “Us” refers to Riz Remit affiliates or agents/partners.;
e.	“Transaction”	“Transaction” refers to a money transfer that You initiate through the Riz Remit® Online Service;
f.	“Sender”	“Sender” refers to the person who initiated a money transfer through the Riz Remit® Online Service;
g.	“Receiver”	“Receiver” refers to the person named as the beneficiary of a money transfer Riz Remit® Online Service;
h.	“EEA”	“EEA” refers to the European Economic Area;
i.	“Card Issuer”	“Card Issuer” refers to the issuer and the owner of a Bank Card;
j.	“Business Day”	“Business Day” refers to a day that is not a Saturday or Sunday and on which banks are open for general business in England;
k.	“Bank Card”	“Bank Card” refers to a Visa® or MasterCard® credit card, or a debit card;

 

Riz Remit Limited is a payment services firm incorporated in England under Companies House No. 12102575 with its registered address at Saxon House, 27 Duke Street, Chelmsford, Essex, England, CM1 1HT. Riz Remit is registered by FCA for the provision of payment services under FCA FRN No.916757. Furthermore, Riz Remit is regulated by HMRC as a money service business under registration number XXML00000171059, and ICO Registration No is ZB482144. 

 

Riz Remit offers money transfer services internationally. The service is provided by Riz Remit through its partners via a network of agents/partners or through our mobile app/online web portal.

 

We confirm that we have no affiliation in the market with any other service provider. 

 

Please note that under its MSB license from the HMRC, Riz Remit can only provide home remittance services. Thus, we do not offer any financial services other than home remittances. We are not financial partners or payment collection partners of companies offering any other products or services. Customers are informed clearly that we only offer remittance services and are advised to acquire products/services from such companies at their own risk. We are not liable for any of their financial losses. We are not taking payments via MOTO (mail order, telephone order)

 

Every money transfer constitutes a separate agreement between Riz Remit and the sender of the funds. 

 

When sending money through Riz Remit, you agree to us using our partners to process your transaction and share relevant details with our partners. The terms and conditions along with other documentation related to the Service constitute the entire agreement/contract between Riz Remit / its partners and you, which governs the use of the service and the individual recipient of the service.

 

Terms and conditions are subject to changes depending on changes in the law or regulatory requirements. Any changes made after the completion of a transaction will not apply to the current transaction. These changes will only apply to transactions processed after the date the changes have been made.

 

If you would like a copy of the terms and conditions or additional information about our services, please contact us at [email protected] or by calling us at ­­+44 1245 953337 / +44 1245 953338.

 

The service allows you to send money to a recipient designated by you. The money can be collected by a recipient in cash or sent to the recipient’s bank account or the customer can send money directly via Mobile App / Web portal.

 

To use the Riz Remit service, you must be at least 18 years of age. The service is for personal use only and may not be used for gambling purposes, escrow, or trust purposes. Please read the fraud warning on the form. We will not be liable if you change your mind after a recipient designated by you has been paid. 

 

When the money transfer is conducted, certain information will be requested including identification details which is a requirement to meet our regulatory responsibilities. Certain partners will require the selection of a pay-out agent in the receiving country. 

 

A control number/PIN (Transaction PIN) is provided to you on the completion of a transaction which must only be provided to the recipient of the transaction to enable the collection of the funds. 

 

Riz Remit provides various options for funds being received. The transaction can either be sent directly to a bank account or paid out in cash. For pay-outs in cash, on the receiving side, the recipient will also be requested to provide identification details to ensure that the correct recipient is being paid out.

 

Riz Remit will endeavour to make the transaction available for payment to the recipient either in a few minutes, by the end of the next working day or latest by the seventh business day depending on which partner the funds are sent through, subject to statutory or regulatory requirements. If a transaction has been processed at an agent location, a delay can occur if the agent location is unable to provide the funds for payment promptly.

 

The sender is responsible for providing the recipient with the details of the transactions to enable the collection of funds.

 

Any errors in the details provided for the recipient could result in a delay in the transaction being paid.

 

The fee for the transaction will be indicated on the receipt provided at the agent location or on the mobile app/ online web portal. 

 

Payment shall be made when the relevant details required by Riz Remit or its partners are provided by the recipient including the name of the sender, transaction number, sum sent and country from where the money was sent along with a valid government-issued ID, there may be some local restrictions and additional local regulatory requirements. The acceptable forms of identification differ depending on the country in which the transfer is collected. Payment shall be made to the person that Riz Remit or its agent deems entitled to receive the transaction pay-out.

 

Riz Remit will have fulfilled its requirement to you to pay out the transaction to the recipients providing the above-mentioned details.  For pay-outs at agent locations/pay-out partners, the pay-out will be made during the agent/destination pay-out opening hours and if the agent/pay-out has the funds available to conduct the pay-out. 

 

Applicable laws prohibit money transmission companies from conducting business with certain individuals. Riz Remit and its partners are required to screen all transactions against the list of asset freeze targets issued by the office of financial sanctions implementation, HM treasury. If there is a match, Riz Remit will investigate to determine if the match is a real match to the name in the list, during the investigation, there may be a delay in the transaction being paid out. Additional details may be requested during the investigation, including additional identification details from the sender and/or recipient of the money transfer.

 

In addition to our services, the agent may also offer their products and services. These additional products and services are separate and independent of our service and are offered under the agent's terms and conditions.

 

Fraud warning: Send funds only to individuals you know or can verify as trustworthy. the service must only be used to send funds to family or friends and not for business purposes. if you suspect you are a victim of fraud, contact Riz Remit immediately at +44 1245 953337 / +44 1245 953338 or can write us at [email protected]. 

 

In case of suspicious activity, compliance may report the customer to NCA, and FIU.

 

By using our mobile app and online web portal, you represent and warrant that you are 18 years or older. We have the right to cancel access if it comes to our attention that you are under the age of 18. 

 

On completing the registration requirements on the mobile app or online web portal, you will be provided with login details that are not transferrable. You are responsible for ensuring that the mobile app and online web portal are only accessed by you and that login details are kept safe and secure. Any damages as a result of the use of the login details by a third party will be your responsibility. 

 

Please note Riz Remit will never ask for information from customers about their Passwords, OTP and CVC Code. WE ALSO ADVISE DO NOT TO SHARE THIS INFORMATION WITH ANYONE.

 

We will not save your card information.

 

For any suspicions concerning the confidentially of the app and access to the online web portal, you must notify Riz Remit immediately. Any undue delay in contacting Riz Remit may result in you becoming liable for any losses. 

 

Log-in details must be updated regularly, every month as a minimum. Ensure that you log out of the app and online web portal after conducting the transaction. We reserve the right to disable access to the app or online web portal at any time for any reason including failure to abide by the terms and conditions.

 

For payments through the mobile app and the online web portal, you must ensure that you have funds in the account from which payment is being made. We accept payment by debit card but you must authorize your card issuer to transfer the funds required to be received by us for the transaction. Please note that we do not provide service for credit card users. 

 

Terms and conditions of the card issuer will apply to the use of your card or bank account, and you must refer to such agreements when making funds required for the transaction.

 

For conducting online transactions, you will need to obtain equipment including a computer or device, telecommunications lines, an operating system, printer to print out any records on paper. You acknowledge that certain software and equipment that you use may not be able to support certain features of our services. We have the right to discontinue supporting an operating system if we determine that the operating system is open to security risks. 

 

We may need to reach out to you to provide additional information about your transaction, request additional information about your transaction or respond electronically to an issue. You consent to receive communication and notices from Riz Remit electronically (to the extent permitted by law). You have the right to withdraw the claim to receive notices on communication.

 

You consent to provide Riz Remit with updated information concerning your transaction including your email address and residential address and other profile information. 

 

We will take due care in processing your transaction, abiding by the terms and conditions stated in this document. We do not, however, take responsibility for transactions being declined, terminated, or restricted. 

 

7.1 We do not accept liability for

• Card issuer services. 
• For damages as a result of a transaction being delayed or cancelled.
• If the transaction is processed through the mobile app/online web portal and you do not have an internet connection which results in a delay, or the transaction not being completed.
• Incorrect or incomplete information provided to the agent or on the mobile app/online web portal which results in the transaction being delayed or cancelled.
• Unauthorized use of the information unless this is the result of our negligence.
• If the mobile app/ online web portal stops working or is disrupted.
• If the money transfer is delayed for matters outside of our control although we will aim to limit the time it takes to resolve the issue.
• Delays in the transaction being paid out or the service being unavailable as a result of agent location hours, availability of currency, money being sent to a different time zone, and identification requirements. Additional restrictions may also apply.
• The supply of properties or goods and services which were paid for using the service.

 

1. The Transaction May Be Suspended or/and the Terms and Conditions May Be terminated if:

• The details provided are not accurate or incomplete.
• You are in breach of the terms and conditions including the requirement to pay our fee.
• We are unable to obtain sufficient evidence of Your identity.
• If we suspect that the Riz Remit regulatory requirements will be breached including regulations for preventing money laundering, terrorist financing, and fraud. 
• Due to the requirements of a government or regulatory body.
• A court order is issued which we need to comply with.
• The transaction is being processed on behalf of a third party or we suspect the transaction may have been forged.
• Additional information requested is not provided.
• The card issuer does not authorize the payment.
• You pass away, become insolvent, a bankruptcy petition is presented against you, you enter into a voluntary arrangement, or go into liquidation.
• Sender attempts to transfer or charge funds from a debit card that does not belong to the sender.
• We determine that the profile has been inactive for a substantial time.

 

 

• To abide by the terms and conditions.
• To provide information for the money transfer that is accurate and complete. 
• To not use the service for any illegal purpose.
• For transactions processed through the mobile app and online web portal, to ensure the payment is cleared by the card issuer.
• To keep the login details provided for the mobile app and online web portal safe and secure, not to share these details with anyone else.
• To ensure that the details of the transfer are only passed to the recipient and no one else.
• You consent to Riz Remit conducting checks to verify your identity.
• You consent to provide any additional documentation requested by Riz Remit to verify the identity, source of funds, and source of wealth of transactions.
• You consent to Riz Remit forwarding to regulatory bodies or law enforcement bodies your details if we suspect the transaction may be linked to money laundering, terrorist financing, and for the prevention of fraud.
• You must share the Transaction data (amount of money, Your name, Your country, the name of the Receiver, and PIN) with the Receiver only. You are obligated to ensure that no third party can gain unauthorized access to this information. We recommend that You transfer money only to beneficiaries that You know personally.

 

 

 

Riz Remit and its agents/partners may refuse a transaction without providing a reason, in particular, to prevent fraud, money laundering, or terrorist financing, a requirement by law, due to a request by a regulatory body, law enforcement body, due to a court order or based on our internal policy.

 

Under the regulations, we may be liable if we perform a transaction that you did not authorize us to process. If you suspect such a transaction has occurred, you must inform us in writing as soon as you realize that such an unauthorized payment has occurred. We will then investigate the matter.

 

We must be informed in writing within 13 months of the incident occurring if the refund is to be considered. If during our investigation we determine that the transactions have been authorized by you, the refund will not be done. For any fraud identified, you will remain liable to us.

 

We will have no liability if we are unable to perform the transaction correctly where it is a statutory obligation, or the reason was for events outside of our control.

 

Riz Remit shall be liable for damages resulting from the intentional gross misconduct by staff or agents while processing the transaction subject to applicable law. Liability is excluded in cases of minor negligence.

 

The liability of Riz Remit is limited to refund for foreseeable damage to the contract is limited to EUR 500 (in addition to the amount transferred and charges). 

 

Riz Remit will not be liable where details of the transaction have been wilfully or negligently shared with a third party. 

 

Where it is unlawful for us to do so, we do not limit our liability to you.

 

We will have no liability to You if the unauthorised or incorrectly executed transaction is carried out by a third party or between third parties You have instructed before We receive Your payment for the transfer or any other Transaction. You should contact the relevant third party promptly and inform them of the circumstances of the unauthorised or incorrectly executed transaction.

 

We will have no liability to You for damage that is due to any unusual and unforeseeable events over which Riz Remit has no control and whose consequences, in spite of exercising due care, Riz Remit could not have avoided (caused, for example by Events Outside Our Control, failure of telecommunication lines, civil unrest, war or other events such as industrial action or lockouts over which We have no control). 

 

This applies equally to cases in which Riz Remit is bound by any legislative, judicial, or administrative order to take or refrain from taking any action.

 

 

These Terms and Conditions constitute the entire agreement between You and Us and supersede any prior agreements which may exist between You and Us.

 

 

13. Severability Clause

 

If one or several of the provisions of these Terms and Conditions are invalid, unlawful, or unenforceable, then this does not affect the validity of the remaining provisions.

 

Should You not be satisfied with Our services under these Terms and Conditions You may make a complaint in writing to Us at the contact details published on https://rizremit.com/contact-us. We will try Our best to deal with Your complaint at the first opportunity and We will send You a final response letter within 15 Business Days of receipt of Your complaint. 

 

In exceptional circumstances, We will send You a holding reply within 15 business days specifying the deadline by which You will receive Our final response, being no later than 35 business days from the date of Your initial complaint. If You do not receive Our final response or You are unhappy with Our final response, you have the right to refer your complaint to the Financial Ombudsman Service. Visit www.financial-ombudsman.org.uk for more information.
 This does not affect any other rights you may have.

These Terms and Conditions and all non-contractual rights relating to the Riz Remit Online Service are governed by the laws of England and Wales, without regard to the law of conflicts, and are subject to the exclusive jurisdiction and venue of the courts of England and Wales with respect to any disputes arising out of these Terms and Conditions.

Riz Remit does not share consumer information with third parties unless there is a legal or regulatory requirement to do so. The law does permit the sharing of personal information where it is necessary to administer a transaction that is authorized by a consumer. 

 

The law also permits the sharing of personal data when it is required to protect the security or confidentiality of the records and to resolve consumer disputes, fraud, claims, unauthorized transactions, local laws, legal requirements, and regulations. These are examples of cases where data is permitted to be shared by law but there may be other scenarios. 

 

By processing the transaction with Riz Remit, you authorize us to conduct additional checks to meet our regulatory requirements including background checks. Additional documentation may also be requested including the source of funds and source of wealth.

 

The data collected by Riz Remit is used for:

• Admin purposes
• Customer services
• Mitigating risks including the risk of fraud, money laundering, and terrorist financing.

 

Personal data is transferred to our partners and outside of the EU. 

 

Personal information will be retained by Riz Remit and its partners for the period required by Riz Remit to meet its legal and regulatory requirements. The information requested may change dependent on the current regulatory requirements. We may also request and share data with regulatory bodies and law enforcement. 

 

You have the right to request details on the personal data we hold along with a breakdown of your transactions free of charge. You also have the right to request deletion or correction of data, and restriction of personal data usage including the right to request a restriction on the portability of the data. A request will need to be made in writing and an ID must be provided when making the request. Request to delete data or restrict data movement will be reviewed by the data protection officer, the personal data requested is a regulatory requirement, and deletion of data1 for transactions already processed may not be possible. Once the request is made, the processing time is two weeks. Further details can be obtained by contacting Riz Remit at +44 1245 953337 / +44 1245 953338.

 

If you have concerns concerning how your data is handled or any other concerns concerning this notice, please contact our data privacy officer at 

[email protected]. 

 

You can also raise a complaint with the Information Commissioner’s Office if we fail to resolve your data protection concerns. 

 

Fees

As per the regulations, the fees and exchange rate will be provided before the execution of the transaction, the execution of the transaction is an acceptance of the charges and exchange rate of the transaction. You will be required to pay Riz Remit charges for using the service as well as details of the exchange rate. 

 

Payments on the receiving side will be made in the currency of the receiving country. The rate of exchange is calculated based on interbank rates with a margin. The currency rate shown during the transaction will be the rate that will be applied during the pay-out of the transaction. For some countries, however, due to local laws, the rate may be an estimate and the actual exchange rate is confirmed when the transaction is paid.

 

For certain partners, for cash pickup transfers outside of the EEA where USD has been selected as the pay-out currency, and the location may not pay out in USD, the amount sent will be converted into the local currency. 

 

Riz Remit is not obliged to match or exceed exchange rates offered publicly by other currency exchange providers. Rates of exchange are adjusted several times a day in line with financial markets. 

When using the mobile app for a transaction, any fees charged by the phone service provider such as charges for data services or any fees, you will be solely responsible for these charges.

 

In certain receiving countries, local taxes and services may be levied at the time of collection. The receiver may incur additional charges if receiving funds in an account. Responsibility for checking whether the receiving bank will add additional charges lies with the sender of the transaction.

 

Riz Remit may charge an administrative fee if the transaction is not collected within one year of the date of the transaction. If the transaction has not been collected within 90 days, the transaction will be considered as ‘expired’ and we will have no obligation to execute an expired transfer. For expired transfers, we will attempt to contact the sender to arrange a refund. If the sender becomes aware of the expiry of the transfer, the sender should contact us to arrange for a refund.  

 

Right to Cancel/ Request Refund

You do not have the right to cancel a transaction but under a few conditions. We may however be able to cancel the transaction if the recipient has not collected or received the funds. The cancellation request must be in writing and will in most cases be processed promptly but can take up to 30 days to process or depending on the pay-out response/confirmation. 

 

Customers can request the transaction cancellation before forwarding it to the pay-out. Requests via Email or Customer support will be entertained only within the specific time period.

 

The refunding process will take time 4-5 working days or depending on the customer’s bank.  

 

We do not charge any fees for cancelling and refunding a transaction. For cash transfers where the transfer was not made properly or the funds did not arrive, we will refund both the amount sent and the fee. For transfers to accounts, where the transfer was not made properly or the funds did not arrive, we will refund both the amount sent and the fee. Refund requests will not be accepted if the request was unduly delayed, or 13 months have passed since the transaction was processed. 

 

Intellectual Property Rights

All trade names, trademarks, service marks, copyrights, and other property rights of Riz Remit are owned by Riz Remit respectively. They are protected by UK laws governing trademarks, service marks, copyrights, and other property rights. You are permitted to use the Riz Remit service including the mobile app/online web portal for personal, non-commercial use only.

 

You must not use, modify, republish, or reproduce copies of any graphics, images, promotional material, or text on our mobile app/online web portal or any receipts or documents shared with you by Riz Remit or its agents. The copy may only be used to review the materials that are being provided.

 

Conflicts of Interest

Money transfers do not tend to give rise to conflicts of interest. If a conflict does occur, Riz Remit will provide the consumer with the details of the conflict including the nature of the conflict and will ensure that the conflict does not result in a loss to the consumer.

 

Jurisdiction of Law

All matters arising from, or out of, or in connection with the agreement without any limitation whatsoever shall be determined following English law and the parties hereby submit to the non-exclusive jurisdiction of the courts of England and Wales to settle any matter or dispute arising out of or in connection with it. A third party shall not have any rights under the contracts (rights of the third-party act 1999) to enforce the contract.

 

Complaints Procedure

For any problems that you face concerning the service, please contact the Riz Remit head office by emailing us at [email protected], or calling us at +44 1245 953337 / +44 1245 953338.

or writing to us at the following address: Riz Remit, Saxon House, 27 Duke Street, Chelmsford, Essex, England, CM1 1HT.

 

We will deal with your complaint promptly and fairly. We will respond to your complaint within 15 days or send a holding response of 15 days while we investigate the matter. The final response to your complaint will be made within 35 days of the complaint first being raised. We may need to refer your complaint to a partner, or you may need to approach a partner directly to resolve the issue. Details of this will either be on your receipt, or we will inform you of this when you contact us.