TERMS & CONDITIONS
NoBanx Global Ltd

These terms and conditions specify how the NoBanx website is used and how your NoBanx account is opened and operated.

NoBanx¹ is strongly committed to behaving in a fair and open way at all times Our Terms and Conditions document specifies some aspects of our contract between NoBanx and Members²

DEFINITIONS:

The following words and phrases have the meaning stated here:

• “NoBanx” means NoBanx Global Limited, it's subsidiary and associated companies.;

• “Member” means any person having an account with NoBanx;

• “NoBanx Website” or “Website” means the website at the URL www.NoBanx.com;

• “T&Cs” means these Terms and Conditions;

• “Policies” means all NoBanx policy documents published from time to time on the NoBanx Website. All NoBanx policies are deemed to be part of these T&Cs;

• “NoBanx Account” or “Account”means any account opened with NoBanx;

• “NoBanx Services” means all services provided by NoBanx and available on the NoBanx Website or by any other means;

• “Compliance” means the legal requirement for NoBanx and it's Members to satisfy local and international legislation with particular regard to anti money laundering and Identity issues;

• “Due Diligence” means the process by which NoBanx complies with national and international Compliance requirements.

• “Member verification” means the various methods NoBanx uses to positively establish and authenticate the Member's identity and address.

• “Cleared Funds” means that funds will be credited to your NoBanx Account only after they have been fully cleared through the conventional banking system.

CONTRACT:

These T&Cs form the basis of the contract between NoBanx and Members. By applying to open a NoBanx Account, the Member acknowledges specifically that he or she has read understood and accepted these T&Cs;

COPYRIGHT:

The NoBanx website is Copyright © NoBanx Global Limited. All rights reserved. Rights in the designs, pictures, logos, photographs and content of this site are owned by or licensed to NoBanx Global Limited and they are protected by copyright, patent, trademarks and other intellectual property rights. All users, whether registered Members or otherwise, acknowledge that the copyright belongs to NoBanx Global Limited; accordingly no part of any NoBanx website (including its source code) may be used, transferred, copied or reproduced, modified, incorporated in any other work, publication or site in whole or in part in any manner. No other licence or right is granted.

ELIGIBILITY:

A NoBanx account may be opened in the name of any individual over sixteen years of age or any properly constituted corporate body. Please do not attempt to register if you are ineligible.

WEBSITE USE:

NoBanx will make every effort to make the website available at all times and from all locations but because of the nature of the Internet, access to the website is provided subject to availability. NoBanx shall not be liable for any damages or losses resulting from your inability to use this site for any reason. The site may be suspended temporarily, in case of system failure, maintenance or repair or other unforeseen circumstances. NoBanx will endeavour to give reasonable notice but cannot guarantee to do so, neither can we guarantee that the site is completely free from errors or omissions. NoBanx will make all reasonable attempts to exclude viruses and other destructive devices from the site but this cannot be guaranteed. You encourage you take appropriate steps to mitigate this risk.

ACCOUNT OPENING:

• By opening a NoBanx account you agree to be bound by these T&Cs and specifically warrant that you are not acting on behalf of an undisclosed principal or a third party beneficiary.

• Opening a NoBanx account is accomplished by completing the on-line application form and once this is confirmed an initial deposit may be made in order to activate the account. Depending on your country of residence, the formalities may be varied by legislation and are governed by the policies of NoBanx.

• Legislation and NoBanx Policies may be revised from time to time and Members may be required to provide additional documentary evidence to ensure continued compliance.

• NoBanx may, at it's sole discretion, decline any application.

ACCOUNT OPERATION:

• NoBanx Accounts are operated on-line by logging-in to the secure NoBanx Website at www.NoBanx.com

• Credit Interest – No interest is paid on credit balances on your NoBanx Account.

• Overdrawing – Your NoBanx Account is operated on Cleared Funds only. Overdrawing is neither permitted nor possible.

• It is the individual NoBanx Member's responsibility to ensure that his/her NoBanx Account is used and operated in a fully legal way at all times.

• You agree to fully reimburse NoBanx in respect of any and all losses, claims, and liabilities incurred as a result of any non-observance by you of these T&Cs.

ACCOUNT CLOSURE:

NoBanx reserves the right to close or freeze the account, after due notice to the member for reasons which may include, but not limited to, the following:

1. In case any of the documents furnished towards Identity and address proof are found to be counterfeit, fake, forged or defective;

2. In case fraudulent, forged or fake cheques, bank drafts or any such instruments are attempted to be cleared through the account;

3. Improper conduct of the account in terms of volume or type of transactions;

4. For unsatisfactory conduct of the account.

The Customers shall be solely liable for all losses, costs and charges incurred consequent to such closure or freezing of the account.

Upon closure of the Account(s) for any of the reasons specified above or otherwise, the member shall take steps to collect any balance amount in the Account.

CHARGES & FEES:

• NoBanx makes a small charge for registering a currency exchange transaction. All other charges arising from the operation of your NoBanx Account will be passed-on to the Account holder. e.g. Stamp Duty, Postage, Bank Charges, Etc..

• Charges and Fees applicable to the operation of your NoBanx Account are shown on the NoBanx Website.

• Charges and fees may be varied at any time.

SHARING OF INFORMATION:

• You must not permit anyone, directly or indirectly, to use your Account, User Name or Password.

• You must use every effort to keep your password safe and should not disclose it to anyone. You must not transfer or sell your Account, User Name or Password to any other person.

• Your User Name (account name) and Password are chosen by you during the registration process and are uniquely linked to you. You are solely responsible for all transactions authorised by that User Name and Password and shall only use or utilise the site using your own User Name and password.

ELECTRONIC TRANSACTIONS:

• NoBanx is not responsible for any delay or loss cause by account details, references and other necessary information being omitted or incorrectly used or supplied, or if the receiving account (bank or NoBanx) is deactivated, suspended or closed. When notification of funds is received, such funds will be shown as “pending”. Your NoBanx account will be credited as soon as funds are fully cleared. Amounts shown as “pending” are not available for use or withdrawal.

• Deposits -

• Foreign Exchange -

• Transfers and Payments to NoBanx accounts -

• Transfers and Payments to non NoBanx accounts -

NON - ELECTRONIC TRANSACTIONS:

• NoBanx is not responsible for any delay or loss cause by account details, references and other necessary information being omitted or incorrectly used or supplied, or if the receiving account is deactivated, suspended or closed. When notification of funds is received, such funds will be shown as “pending”. Your NoBanx account will be credited as soon as funds are fully cleared. Pending amounts are not available for use or withdrawal.

• Deposits -

• Foreign Exchange -

• Withdrawals and Payments to NoBanx accounts -

• Withdrawals and Payments to non NoBanx accounts -

TRANSACTION PROBLEMS AND DISPUTE RESOLUTION:

All problems, complaints and disputed should be reported within twenty-one days will be thoroughly investigated by NoBanx and every reasonable effort will be made to rectify or resolve the situation. Notifications received after twenty-one days will sometimes be difficult or even impossible to investigate adequately and NoBanx is not responsible if this proves to be the case. In the event that NoBanx is unable to resolve your problem or dispute to your complete satisfaction you may, at your sole discretion, refer the matter to our Dispute Resolution process which can be accessed from the NoBanx website.

GOVERNING LAW:

The laws of New Zealand shall govern these Terms. The Parties hereby agree that any legal action or proceedings arising out of the Terms shall be brought in the courts or tribunals in New Zealand and irrevocably submit themselves to the jurisdiction of such courts and tribunals. NoBanx may, however, in its absolute discretion, commence any legal action or proceedings arising out of the Terms in any other court, tribunal or other appropriate forum, and the user hereby consents to that jurisdiction. Any provision of the Terms which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceable but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction.

DISCLOSURE:

This policy document was last modified on 20^th June 2010. Once registered you will be notified of any changes by email to your registered email address.

¹ NoBanx Global Limited, it's subsidiary and associated companies.

² Any person having an account with NoBanx

This policy document (Terms-and-Conditions-v1-5) was last last updated on 20^th June 2010 and is subject to change at any time, without notice.