IMPORTANT: The following terms and conditions apply to individuals who are transacting either in a personal capacity in relation to their personal affairs, as a sole proprietor of a business, as a trustee of a trust or as a partner of a partnership.
This Customer Agreement
This Customer Agreement (“Agreement”) is a legal agreement between you ("you") and EMQ Limited [CRN: 2038310] ("EMQ", "us" or "we") and governs your use of the EMQ application and websites, software, programs, documentation, tools, components and any updates (including software maintenance, service information, help content, bug fixes or maintenance releases) thereto, and other related products and services (together, the “Services”). This Agreement applies to each transaction (“Transaction”) that you subsequently enter into with us using any of the Services.
EMQ only provides an international money remittance service.
We are licensed by the Hong Kong Customs and Excise as a Money Services Operator. Our primary business is the international transfer of money and related services.
Online Registration and Customer Account Opening
To make use of our Services you must register an online account with us using our mobile app. In order for us to satisfy regulatory obligations, our registration process will perform mandatory customer verification and will ask for information including your legal name, date of birth, a copy of your passport/national identification number as well as other personal information. When registering you must provide us with current, complete and accurate information.
You authorize and EMQ reserves the right to access, directly or through third parties, various government or private databases to verify and validate your identity and account information.
We may refuse the creation of duplicate accounts for the same user. In a case where duplicate accounts are detected, we reserve the right to close or merge these accounts without notice.
We reserve the right to maintain your account information after you close your account for business and regulatory compliance purposes.
EMQ reserves the right to refuse to accept any new user or any transaction at its absolute discretion.
If you wish to enter into a Transaction, you may do so by giving us instructions by way of our Mobile Application. The Transaction will be legally binding on you after we receive your Instructions and you have deposited Funds with EMQ in accordance with this Clause 5. We will provide you with confirmation of the Transaction details on the screen at the time you book the Transaction.
We will provide the telephone number you registered with, a passcode and one-time verification code to authenticate you as a user of our application. It is your responsibility to ensure the security of your passcode. We will accept any Instructions received pursuant to the use of the passcode without checking the identity of the user. EMQ will not be liable for any loss or damage arising from your failure to protect your account information.
EMQ reserves the right to refuse any Instruction at any time at its absolute discretion.
You may cancel your Transaction at any time before the amount is converted or transferred in accordance with your Instructions.
Deposit to EMQ
All Instructions submitted to EMQ will be inactive, until we have received a valid deposit inclusive of the full amount being transferred and any transaction or service fees that may be payable.
You acknowledge that we do not accept cash or cheques. You agree to make all payments electronically using the instructions we provide and you acknowledge that we will transmit your funds by electronic means only.
You must provide us with full details of the Beneficiary Account, including the full name and address of the account holder and any additional information we may request to process a Transaction. We will rely solely on the account number you give us for your
Beneficiary Account and may not check to ensure that the name provided by you accords with the account number you have given us.
You acknowledge and agree that we do not hold your funds on trust and will not put your funds into a separate account. We will not pay to you any interest on any funds held by us.
If we quote you a Rate that is clearly a mistake on our part as the result of a technical or human error, it is not binding on us. You must notify us as soon as the mistake comes to your attention and we will re-quote the Rate as soon as possible.
If a transaction fails as a result of incorrect information (e.g. recipient account number or recipient name) provided by you, you may be liable for an administration fee.
If your funds are sent to the wrong account as the result of a mistake made by you, and we have acted in accordance with your Instructions, we will be under no obligation either to recover the funds or to resend the funds to the correct Beneficiary Account. You will need to book a new Transaction.
If your funds are sent to the wrong account as the result of a mistake made by us, we will take urgent action at our own expense to recover those funds, provided that you take immediate action to assist us to recover any such funds if the mistaken beneficiary is related to you or associated with you in any way.
Return of Funds
EMQ will return funds to the sender’s original source of funds in the following circumstances:
- Your Transaction is refused or cancelled;
- You have deposited more funds than necessary for a Transaction
If we are unable to return the deposit, then we will contact you using the most up to date contact information provided to us by your EMQ account. Local bank transfer charges may apply.
- Transaction Fee
EMQ charges a fee on every Transaction. Fees relating to each Transaction are visible to the user when the Instruction is confirmed.
- Administration Fee
An administration fee may be incurred when the receiving bank refuses your Transaction due to incorrect payment details, regulatory requirements or other valid reasons, as determined by EMQ. The administration fee is $75HKD and will be deducted from your Transaction amount.
- Transaction Fee
You agree that we can communicate with you electronically either by SMS, email or by posting notices on the EMQ website.
Where notice in writing is required by you under this Agreement, it must be sent by email. Receipt shall be deemed to have taken place on the day of dispatch if the email was sent prior to 1:00pm on a business day or the first business day after dispatch in any other case. If the email address you have given to us is changed, you must notify us as soon as possible.
- Amendment and Termination of this Agreement
We may vary some of the terms of this Agreement by posting changes on our website or the Mobile Application. Once we have given you notice of the proposed changes, if you do not tell us that you object to the changes before the date on which they are due to come into effect, then you will be deemed to have accepted them and they will take effect on the date indicated. If you do object to the changes, then you have the right to end this Agreement without charge.
We may without liability to you or any third party, refuse to let you open an account, suspend your account, or terminate your account or your use of one or more of the Services. Such action may be taken as a result of account inactivity, failure to respond to customer support requests, failure to positively identify yourself, if we believe your account has been compromised, in order for us to comply with relevant laws or regulations, or your violation of the terms of this Agreement.
This Agreement will remain in force until terminated by you or us. You may terminate this Agreement at any time without penalty by notifying us in writing. Termination following such notice will only take effect when any outstanding Transactions prior to the date of receipt of such notification by us are completed. We may terminate this Agreement at any time by SMS notice sent to your registered mobile number which shall be effective immediately.
- Limitation of Liability
While we will endeavour to comply with your Instructions as quickly as possible, there may be circumstances in which we are unable to do so. Therefore, we always reserve the right to refuse to accept your Instructions and to do so without giving you any reasons and without incurring any liability to you for any resulting loss or damages incurred by you or any other party.
EMQ shall not be liable to you or any third party for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you resulting from the failure of EMQ to execute any transfer in accordance with the Instructions from you or any other breach of our obligations under this Agreement.
You acknowledge that delays in the transmission and receipt of payments may occur. In particular, you acknowledge that we operate an online dealing platform that could be subject to technical, or other, problems, the nature and duration of which may be beyond our control. Our service also involves the use of intermediaries who are outside our control. Accordingly, while we do everything in our power to ensure the timely transmission of funds, we cannot guarantee that transfers of funds will always be made on time and cannot accept any liability to you for any loss suffered by you or any other person as a result of any delays in the transmission of funds.
You agree to indemnify us for any costs, expenses or fees we may incur as a result of any default by you under this Agreement or any applicable laws in connection with any transaction under this Agreement. This includes but is not limited to any legal costs that we may incur in order to defend ourselves or to enforce our rights or recover any amounts incurred by us as a result thereof. You also agree to indemnify us for any fees, costs, losses, duties and taxes, whether or not those fees or charges were notified to you in advance.
- Representations and Warranties
You represent and warrant that the following statements are true and accurate, and you acknowledge that we may refuse to enter into a Transaction if we find at any stage that they are not true and accurate:
- you are over the age of 18;
- you are the beneficial owner or have the necessary legal authority in respect of the money you are seeking to transfer;
- you are not acting on behalf of an undisclosed principal or a third party beneficiary;
- you have a valid commercial or personal reason for entering into each Transaction and will not enter into any Transaction for speculative purposes;
- in making your decision to enter into a Transaction, you do not and will not rely on any market-related information that may be provided from time to time by us on our website or by our employees or consultants;
- you and all Transactions initiated by you will comply with all laws, rules, regulations applicable to you;
- you will not use the Services, directly or indirectly for any fraudulent undertaking or in any manner so as to interfere with the operation of the Services; and
- your use of the Services will be in compliance with this Agreement.
- Entire Agreement
This Agreement and any documents referred to herein constitute(s) the whole agreement between you and EMQ superseding all prior agreements, representations and understandings, written or oral.
- Governing Law and Jurisdiction
Any dispute in relation to this Agreement or the Services provided by us must first be referred to us and both parties shall use best endeavours to resolve the dispute amicably within ten (10) Business Days from the date a notice of dispute is sent by one party to the other.
If the matter is not resolved in the manner above, the matter shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. This referral shall include any dispute, controversy, difference or claim arising out of or relating to this contract, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it. There shall be one arbitrator, who shall be chosen by the parties. In the event no agreement regarding the selection of the arbitrator can be reached between the parties, the arbitrator shall be chosen pursuant to the HKIAC Administered Arbitration Rules. The seat of arbitration shall be Hong Kong. The arbitration shall be conducted in the English language.
You consent to the electronic recording by us of any telephone conversations between us, without an automatic warning tone. You acknowledge that either you or we may use any telephone recordings as evidence in any dispute or anticipated dispute between us or in relation to any dealings between us.
This Agreement shall be interpreted in accordance with the laws of Hong Kong and both parties agree to submit to the jurisdiction of the courts of Hong Kong.
Beneficiary Account means the account to which you are sending your funds.
Business Day means a day other than a Saturday, Sunday or public holiday on which banks are open for business in Hong Kong.
Mobile Application means the EMQ published application downloaded from the Apple or Google application stores.
Rate means the foreign currency exchange rate that we quote you for a Transaction.