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Transfer to many countries.
Industry-leading payment security.
This Agreement is a contract between you and First Remit and applies to your use of the Services.
By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement. This Agreement is provided to you and concluded in English. You agree that any use by you of the Services shall constitute your acceptance of the Agreement and we recommend that you store or print-off a copy of the Agreement (including all policies) for your records.
Please read this Agreement carefully and make sure that you understand it fully before using the Services. Please note that if you do not accept this Agreement, you will not be able to use the Services.
1. Our Relationship With You
1a. First Remit is only a Payment Service Provider.
First Remit Services are operated by First Remit Limited, registered in England and Wales. First Remit is registered as a money service business by Her Majesty's Revenue and Customs (HMRC) and is under the prudential supervision of the United Kingdom Financial Supervisory Authority (FSA).
The main business for First Remit is money transfer and provision of services for making foreign currency payments internationally.
Our main trading address is 22 Upper Ground 8th Floor London SE1 9PD United Kingdom.
1b. Your Privacy
Protecting your privacy is very important to First Remit. Your passwords are stored on First Remit servers in encrypted form. We do not disclose your account details, postal or email addresses to anyone except when legally required to do so. We do disclose your first name and the first letter of your last name to other members, who are transacting with you.
Sensitive information between your browser and the First Remit.com website is transferred in encrypted form using Secure Socket Layer (SSL). When transmitting sensitive information, you should always make sure that your browser can validate the FirstRemit.com certificate.
1c. Transaction History
You can access your details of executed payment transactions and other information relating to your Account by logging into First Remit and clicking on the "Account" tab.
1d. Duplicate accounts
First Remit may refuse creating duplicate accounts for the same user due to security and client identification requirements. First Remit reserves the right to refuse the creation of duplicate accounts for the same user due to security and client identification requirements. In a case where duplicate accounts are detected, First Remit reserves the right to close or merge these duplicate accounts without notification.
To be eligible for our Services, you must be at least 18 years old. You further represent and warrant to us that if you are an individual and you open an Account with us that you are not acting on behalf of an undisclosed principal or a third party beneficiary.
Before being able to use the Service we have to perform mandatory customer verification. For that we may ask for photographic evidence of your identity such as a copy of your passport. It is possible to provide this evidence through a number of methods including fax and email.
First Remit reserves the right to access various government and private databases so as to verify your information (so called “electronic ID”) If certain databases provide a match to the information you provide then we may not have to ask for photographic evidence of your identity.
First Remit reserves the right to refuse to accept any new user or any transaction at its discretion.
3. Using the Service
3a. Types of Paymeny Orders
1. Fixed Target. Payment orders, where you require First Remit to transfer a fixed amount of foreign currency to the payment recipient.
2. Fixed Source. Payment orders, where you order to convert a fixed amount of source currency and transfer the resulting amount to the recipient in foreign currency.
3b. Exchange Rates
First Remit makes reasonable endeavors to match transactions at exchange rates aligned to the best market rate e at the global currency markets. First Remit is relying on aggregated third party information sources and we do not guarantee that the rates match any particular benchmark source at any given time. First Remit is not liable in any way if the target currency after the exchange is less than anticipated as a result of changes in the global currency markets.
Firs tRemit does not take any margin or spread on the exchange rate, hence there are no buy and sell rates. The rate that you get is exactly the same rate as your counterparty.
You have the ability to protect yourself from market volatility by setting the Limit Rate, the lowest exchange rate at which your currency will be converted.
Your payment order may be exchanged by a number of counterparties. Every such match is conducted at the current market rate. The final effective rate for your payment order is then a weighted average of the rates across all applied matches.
Every new payment submitted on the First Remit website will be inactive, until we have received a valid deposit. You need to pre-pay the deposit to First Remit in the following way:
Transfer the full invoiced amount in source currency on the First Remit clearing bank account by bank transfer (see "Bank Transfers" section). If it is a 'Fixed Target Amount' payment order, then the invoiced value equals the required source currency if exchanged at your specified Limit Rate. The excess deposit, which is the difference between the invoiced value (your paid deposit) and the effective source currency requirement, is refunded to your specified source currency account after your order is matched.
If for any reason your payment is cancelled or refused, then your deposit will be returned to your bank account.
Also you have the option to cancel initiated transfers within the first 15 minutes.
In case of any cancellation or refusal, deductions may apply to the refund process.
3d. Payment Limits
The upper transaction limit for payments is 10 000 GBP or equivalent. The maximum amount of currency accepted for exchange varies dynamically based on market conditions. There is no lower limit.
3e. Bank Transfers
All GBP payments must originate from a UK bank or building society. First Remit makes GBP payments through the "UK Faster Payments" scheme where possible or alternatively through BACS.
You may be liable for an additional administration charge if the account numbers or the recipient name you have provided are incorrect.
In case your bank charges you for receiving of payments you shall be liable for paying these.
3f. Refused Transactions
First Remit may refuse the payment order, if we cannot match the user's name and address as provided to First Remit to your bank account or credit card details. In this case you may be liable for an administration charge, which will be deducted from your deposit.
3g. Your Obligations
You are responsible for ensuring the payment details you provide are accurate. Once payment instructions have been executed by First Remit, transactions cannot be reversed and First Remit will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions.
In the unlikely event that you notice an error in either the payment sent or received as a result of using the Services, then you should immediately notify us at email@example.com. If you become aware that you have received a payment over and above what you were expecting, you must immediately notify us of this so that arrangements can be made for you to immediately return any overpayment.
You agree not to use the Services for any unlawful activity and First Remit reserves the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, First Remit reserves the right to report suspected unlawful activity to any appropriate person or body and to provide them with any relevant information, including personal data.
4a. Transaction Fee
First Remit charges a fee on every payment, the minimum fee is 1 GBP/EUR. Fees relating to the payment are visible to the user before submitting the payment.
4b. Administration Charges
Administration charges may only incur when our settlement banks or the receiving bank refuse your transaction due to incorrect payment details, their regulatory requirements or any other valid reason. Any administrative charges from the settlement banks or the receiving banks will be deducted from your payment amount. In addition, First Remit admin charges may specifically apply in the following scenarios:
5. General Terms
We are required to provide certain information to you in writing. By accepting this Agreement, you agree that we can communicate with you electronically either by email or by posting notices on the First Remit website.
5b. Events Outside Of Our Control
We will not be liable or responsible for any failure or delay in providing the Services that is caused by events outside of our control, including but not limited to failures or delays caused by a lack of, or slow access to the Internet.
5c. Entire Agreement
This Agreement and any document expressly referred to in it constitutes the whole agreement between us and supersedes any previous discussions, correspondence, arrangements or understandings between us.
5e. Law And Jurisdiction
The provision of the Service and any dispute or claim arising out of the provision of the Service is governed by English law.
Any dispute or claim arising out of or in connection with the Service will be subject to the non-exclusive jurisdiction of the courts of England and Wales.
Protecting your data and financial details is very important to First Remit.
This policy sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by First Remit.
Information we may collect about you
We may collect and process the following data about you:
• Information that you provide by filling in forms on the FirstRemit.com website. This includes information you provide at the time of registering (such as copies of identification documents or documents verifying identification from publically accessible databases) or carrying out a transaction on the FirstRemit.com website;
• If you contact us, we may keep a record of that correspondence;
• Details of transactions you carry out through our site and of the fulfillment of your orders;
• Details of your visits to our site.
We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration. This is statistical information about our users’ browsing actions and patterns, and does not identify any individual.
Where we store your personal information
The data we collect from you is stored in the UK but may be transferred to and stored at a destination outside of the European Economic Area (“EEA”). It may also be processed by staff operating outside of the EEA. By submitting your personal data, you agree to this transfer, storing and processing.
Your passwords are stored on First Remit servers in encrypted form. We do not disclose your account details, postal or email addresses to anyone except when legally required to do so. We do disclose your first name and the first letter of your last name to other members, who are transacting with you.
Sensitive information between your browser and the FirstRemit.com website is transferred in encrypted form using Secure Socket Layer (SSL). When transmitting sensitive information, you should always make sure that your browser can validate the FirstRemit.com certificate.
It is your responsibility to keep your password secure. Unfortunately, the transmission of information via the internet is not completely secure. Although First Remit will do its best to protect your personal data, we cannot guarantee the security of your data transmitted to our site, any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try and prevent any unauthorized access.
How we use your information
We use information held about you in the following ways:
• to provide you with our services and to carry out any transactions that you request;
• to ensure the content from our site is presented in the most effective manner for you and you computer or mobile device; and
• to notify you about changes to our service.
Disclosure of your information
We may disclose your personal information to any member of our group.
We may disclose your personal information to third parties:
• in the even that we sell or buy any business or assets;
• if First Remit or substantially all of its assets are acquired by a third party; or
• if we are under a duty to disclose or share your personal data in order to comply with any legal obligation. This includes exchanging information with other companies and organizations for the purposes of fraud protection.
Changes to this policy
Our website places cookies, which are small data files, on your computer or mobile device. This is a common practice for all websites.
Cookies help us provide you with a good experience when you browse our site and also allow us to improve our site. Cookies cannot be used to identify you personally.
Please note that it is possible to disable cookies being stored on your computer by changing your browser settings, however our website may not function properly and/or some features may not be available to you in that case.