Terms and condition of use

1. Introduction
   1.1 This payment service is a commercial service and created to help individuals transfer money from payer country (Sweden) to family and friends in payee country (Thailand). By signing in to our website or phone applications, the order is placed and paid using direct bank transfer or debit card. In a matter of minutes after ordering, the money is paid to the payee’s bank account in Thailand.
   1.2 These terms and conditions govern the terms of access and use of our services, whether available via the website, phone / tablet applications or otherwise. By accessing, registering with and using the service, you agree to comply and be subject to the terms and conditions. If you do not want to be subject to the terms and conditions, you will not be able to register with or use the service. User languages are available in English, Swedish and Thai. In case of discrepancies between them, then it is English text only valid.
   1.3 In these terms and conditions, the terms ”xbaht”, ”we”, ”us” refer to Xbaht AB and its employees, directors and collaborators. Xbaht is a Swedish limited company and is approved by the Swedish Financial Supervisory Authority to provide payment services with permission to transfer money. Xbaht is under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen) in accordance with the payment service regulations and has the Swedish Financial Supervisory Authority’s institute registration number 45607.
   1.4 The terms ”you”, ”you” and ”yours” refer to users of the service, such as payers and payees.
   1.5 These terms apply from the date you first access, register with, or use the service. Terms and conditions are subject to change and you will always be informed of the changed terms and conditions as described in section 12.

2 Definitions
2.1 ”Service” means Xbaht AB’s money transfer service.
2.2 ”Terms” means these written terms and conditions regarding use of the service.
2.3 ”Payer” means the person using the service to send money.
2.4 ”Payee” means the person who receives the payment.
2.5 ”Transaction” means transfer of money through the service.
2.6 ”Transaction order” means an ordered transaction.
2.7 ”Transaction history” means the summary of your past transactions found in your account on the home page and in the mobile applications.
2.8 ”Transaction amount” means the amount paid by the payer, excluding fee, possibly tax and prior to currency translation.
2.9 ”Payment amount” means the amount received by the payee.
2.10 ”Service fee” means the fee that xbaht charges for each transaction.
2.11 “Exchange rate” means the rate at which the transaction amount will be exchanged to payment amount.
2.12 ”Business day” means any day where our service is open to transactions.
2.13 ”Website” means Xbaht’s website (xbaht.com) where the payer can use the service.
2.14 ”App” means mobile application used by mobile phone, tablet or other device where the app allows the payer to use the service.
2.15 ”Payer country” means the country where the payer uses the service.
2.16 ”Payee country” means the country where the payee receives money.
2.17 ”Payment instrument” means a valid means of payment such as bank account, debit and credit card.

3 Our obligations
3.1 We reserve the right to change or discontinue the service or any portion of the service at any time and without prior notice.
3.2 We are not required to process a transaction and may freely decide if transaction orders are accepted or cancelled. If we decide not to process a transaction, we will immediately inform you of the decision and repay the full transaction amount we have received, if it does not violate applicable law. If we choose to proceed with the transaction, we may still suspend or cancel it at our discretion.
3.3 Transaction times mentioned on our website or in apps are representative of the normal and average time and cannot be used to guarantee an individual transaction or transaction time.
3.4 We always try to process transactions as soon as possible. Our business model is based on immediate and short-time transactions, but any transaction may be delayed or cancelled for many reasons, including but not limited to – validating your transaction information, contacting you that system errors occur, or if applicable laws require it. Transaction orders are strived to be processed within the same business day. Transaction orders that arrive outside normal opening hours are attempted to be processed as soon as possible on the next business day.
3.5 We send a text message to the payer immediately after the transaction order comes to us, containing details about the transaction – transaction amount, exchange rate, transaction fee, date, payer and payer’s phone number, payee and payee’s phone number as well as payee’s bank details – account number and payment amount.
3.6 We send a text message to payer and payee immediately after the payment amount has been paid to the payee’s account, including transaction details – transaction amount, exchange rate, transaction fee, date, payer and payer’s phone number, payee and payee’s phone number as well as payee’s bank details – account number and payment amount.

4 Your obligations
4.1 By using the service, you agree:
4.1.1 that you must be at least 18 years old.
4.1.2 to provide the correct information required to complete the order.
4.1.3 to check that the information is correct on receipt sent as text message after order.
4.1.4 on request give us the information we need to meet the requirements according to applicable law on payment services and money laundering and financing of terrorism or other legislation.
4.1.5 to immediately update your account information with us if it changes.

5 Account and place order
5.1 Once you have created an account and been approved by us, you can start placing orders through our website and apps.
5.2 As soon as you approve your order with Mobile BankID, the money will be deducted from either your bank account, debit or credit card (your choice of payment) and then the order is placed and binding.
5.3 Your account with us is private and may only be used by you.
5.4 Orders are accepted only from you and not if it appears that you act on behalf of others.

6 Approval of order
6.1 Receipt will appear on screen after you have approved and paid your order. The receipt is also a confirmation that we have received your order.
6.2 We also send receipt as SMS message to your phone number you enter order.
6.3 We are not under obligation to accept your order and may refuse to perform the order, regardless of whether this is done by reference to applicable law or for any other reason.
6.4 Exchange rates that transaction amounts are exchanged with are updated on an ongoing basis relative to current market rates and must be approved by you upon payment.
6.5 If you are presented with exchange rates that are clearly faulty either due to human or system errors, we will be able to cancel the order with reference to the error. You are obliged to inform us of any errors regarding your transaction as soon as it is discovered.
6.6 Orders placed but not completed due to non-payment, whether there is a lack of funds on payment accounts or due to interruptions in the transaction during ordering will not be accepted by us as an order. In such cases, you will be informed that you can complete the order by completing the payment.

7 Cancellation of order
7.1 An order is binding as soon as it is approved by Mobile BankID and afterwards no longer possible to disrupt, cancel or otherwise terminate the order and payment process.
7.2 If it is not possible for us to pay the money to the payee’s account either due to error information, account closure or other circumstances that are not related to us, which prevents the money from being paid to the payee’s account, you will be informed of it and it will be possible to correct the information so that the order can be reinstated. If afterwards it is still impossible to pay the money due to circumstances not related to us, the order will be cancelled, and the transaction amount paid will be refunded as soon as possible, without service fee.
7.3 An order is cancelled if it in any way violates applicable laws and regulations. Any refund regarding this order will be in accordance with applicable laws and regulations.

8 Service fee
8.1 Unless otherwise stated, all transaction orders are subject to a service fee that is clearly displayed before an order is accepted and paid.

9 Payment
9.1 Payment of your transaction orders is only possible through our website or apps, either as direct bank transfer or by card payment in our secure and encrypted platform – by following the payment process.
9.2 We do not accept cash, checks or other types of funds other than those payment instruments described in section 9.1.
9.3 Payments cannot be done outside of the encrypted platform.
9.4 Payments are made in SEK and paid to the payee’s account in THB.
9.5 Transaction times always try to be as short as possible. Orders placed within our opening hours are claimed to be processed and paid no later than the beginning of the next business day.
9.6 Orders placed outside of our opening hours are prioritized, processed and paid in the order they arrive on the next business day.
9.7 You are solely responsible for any fees that your bank or payee’s bank may charge an account for transactions.
9.8 You are solely responsible for what the payee’s bank must deduct the payment amount due to negative account balance as cover for it, and whether it is also associated with fees.
9.9 You will not be entitled to receive interest on funds paid to us.

10 Termination of account
10.1 We may terminate your account with us without giving prior notice and without liability to you at any time after the occurrence of any of the following events:
10.1.1 you fail to comply with your obligations under our terms and conditions.
10.1.2 you fail to provide information or documentation that we have requested as part of our legal obligations.
10.1.3 by death.
10.1.4 whether it is or becomes unlawful for us to provide our service to you in accordance with our legal obligations.
10.1.5 we are asked to terminate the account (or part thereof) by any regulatory authority.
10.2 Event Notice: If you become aware of the occurrence of an event referred to in this section 10, please provide us with immediate written notice of such an event.
10.3 We do not pay any profits relating to terminating an account in anyone circumstances.
10.4 You are entitled to terminate your account without giving prior notice at any time if we commit a serious breach of our obligations under these terms and conditions, or we have a bankruptcy presented against us or if we terminate or threaten to cease to continue all or part of our business.

11 Responsibility
11.1 By using our service, you acknowledge that delays of transactions may occur. You acknowledge that we are running online payment service that may be affected by technical or other issues, the nature and duration of which may be beyond our control. We do everything in our power to ensure immediate transfers of your funds but cannot guarantee a specific transaction time and we have no liability for any loss – directly or indirectly – you or anyone else may have relating to the delay by using our service.
11.2 We are not responsible for any loss you may incur when using our service, or otherwise relating to this:
11.2.1 negligence, indirectly or with consequential damages as a result.
11.2.2 loss of business, loss of opportunity, loss of profit, loss of interest.
11.2.3 loss of damage caused by inaccurate or misleading information to us by the payer.
11.2.4 loss or damage caused by our refusal to approve an order.
11.3 Should we, most unlikely, in any way perform the service in violation of these terms and conditions, you will be entitled to compensation for any expenses that may have been incurred.
11.4 By using our service, you will be liable to us and shall refund any loss or damage suffered as a consequence of your breach under these terms. This also includes any legal costs that we may have to enforce our rights.

12 Change in Terms
12.1 In case of changes to contract terms, we will notify you at least 2 months before new terms come into force. We consider you to have approved new terms if you notify us no later than the day before new terms and conditions come into force, leaving us a message that you do not approve the new terms. You are entitled to terminate your account with immediate effect, no later than the day before the new Terms and Conditions enter into force.
12.2 Changes to exchange rates are continuously ongoing and not announced, but are updated and displayed on our website and apps.

13 Privacy Policy
13.1 We treat personal information that is provided relating to the use of our service according to the Privacy Act.
13.2 Your information will not be used directly in marketing or promotional campaigns, but will be processed within the framework of market and customer analyses, and as a result, it may be included in marketing, promotional campaigns, new product development, etc.
13.3 Information we collect about you in private or public records, such as the personal address register (SPAR), sanctions and PEP register are used solely to fulfill our obligations under applicable law.

14 Complaints
14.1 We strive to deliver the highest level of customer service as possible. If you experience a problem, we will always try to resolve this as quickly and efficiently as possible. You can request a copy of our complaints procedure by sending an email to complaints@xbaht.com or by writing to us at:
XBAHT AB
ISBERGS GATA 8C
SE-211 19 MALMÖ
14.2 Complaints in this context mean a real dissatisfaction with the handling of xbaht’s payment service, which cannot be solved directly through dialogue or otherwise resolves the customer’s dissatisfaction. General opinions and general dissatisfaction are not considered as complaints in this regard or dissatisfaction, which is considered of less importance to the customer.
14.3 Once we have received a complaint, the matter will be dealt with immediately. If your treatment period exceeds 14 days, you will be notified in writing and informed of the expected treatment time. All complaints are processed within a reasonable time and a written response is always given.
14.4 A complaint is accepted only in English or Swedish.
14.5 If it is considered that we are unable to meet your complaint, we will provide written answer motivating for the decision, and instead you may contact the Consumer and Finance Agency for guidance on the complaint. You may also refer the matter to the General Complaints Board (ARN) or to the Court. More information and how to contact ARN can be found on their website www.arn.se