Tems and conditions of InstaWallet system
1. Glossary
”Client” is the participant of InstaWallet system, who has accepted the present Agreement and filled in the Registration Form.
”InstaWallet system” is a set of utilities devoted for conduction of transfers between the Clients’ accounts.
”Wallet” is a registration record of the Client in InstaWallet system, which includes the trading account of the Client and the prefix "i" in its unique symbol name.
”Company” – InstaForex Companies Group.
2. General Principles
2.1. The present Agreement regulates the relations between InstaWallet system participants, and also the relations of every single system participant with the Company.
2.2. The present Agreement is targeted to provide the regulations of secure interaction between the system participants and also the restrictions of liabilities of the Client and the Company in the process of the Client’s working with InstaWallet system.
2.3. The present agreement does not require signatures and is considered to be accepted after pressing the “Register” button, located below.
2.4. The present Agreement is a supplementary Agreement to the general Public Offer Agreement between the Client and the Company, accepted at the moment of the account opening in InstaForex.
3. The subject of Agreement
3.1. The subject of Agreement is performing money transfers between the Clients’ accounts of the Company in the order and on the terms outlined by the present Agreement.
3.2. The Client confirms that he has read the Agreement and is fully conscious of the risks related to the hacking attack on his/her account and getting the access by third parties to the Wallet and password in InstaWallet system.
4. Technical specification
4.1. The unit of the balance accounting in InstaWallet system is Wallet, which is bound to the trading account in InstaForex. The number of the Wallet coincides with the trading account number and has the prefix "i".
4.2. The authorization process in InstaWallet system fully coincides with the authorization in the Client Cabinet of InstaForex, having signed in the Cabinet, the Client can enter the system by selecting the section "InstaWallet" in the left menu of InstaForex Client Cabinet.
4.3. The funds’ flows inside the InstaWallet system is performed directly between the accounts of Clients.
4.4. The only possible way to upload and withdraw money to/from the Wallet of the Client is adding and withdrawing balance funds to/from the trading account of the Client.
5. Limitations and restrictions
5.1. Transfers between the Wallets in InstaWallet system are performed in accord to the Wallet limits for withdrawing procedures.
5.2. The Company reserves right to expend or narrow the Wallet limits to its discretion.
5.3. In certain cases the Company has the right to require for verification of the trading account of the Client freezing the funds until all required documents have been received.
5.4. When revealed that InstaWallet system was used for exchanging money of different payment systems, the Company reserves right to impose its own commission fee on the sum of the withdrawal from the trading account in InstaForex in the amount of 5% of the withdrawal.
5.5. In case InstaWallet system has been employed to transfer funds that were derived illegally or in contravention of the general regulations, bonus offer agreement rules, contest rules or partnership agreement rules, the company is entitled to make a refund to the sender's account due to the breach revealed.
6. Risks
6.1. All money transfers are final and not reversible excluding the cases described in the paragraph 5.5 of the present agreement.
6.2. The Client is responsible for keeping the authorization data safe and agrees that every order for transfer performed with the usage of these payment data is regarded as ordered by the Client.
6.3. The Client recognizes that under the framework of fighting money laundering and money exchange between different payment systems, the Company can put on hold the funds in the Wallet until the Client’s operations examination is completed. The period of blocking up the funds in the Wallet can last for 30 days and can be extended if needed.
6.4. In some cases a transfer can be processed with a delay, and a customer fully accepts the risk of any financial losses that may occur as a result of the delay.
7. Order of business, claims and contentious case adjustment
7.1. The parties are liable to adjust all disputable issues and conflicts in the form of an electronic mail (e-mail).
7.2. When contentious cases occur, the Client is entitled to file a claim with the Company using the email
[email protected] with the indication of the following information:
- Full name of the Client;
- The date and time when the contentious case occurred ;
- Detailed description of the problem.
7.3. The Client realizes that support service of the Company can neglect the requests which have admittedly insulting or threatening content.
7.4. The standard period of the claim consideration is 10 days from the moment of the claim receiving. In peculiar cases, the term of the claim examination shall be extended with the target of additional information detection.
Thank You.
