Terms of Use

Information about us

SWISSMONEY is an authorized member firm of d’Organisme de Surveillance pour Intermédiaires Financiers & Trustees (“SOFIT”), a self-regulatory organization (“SRO”) recognized by the Swiss Financial Market Supervisory Authority (FINMA) and as required by the Swiss Federal Law on combating money laundering and terrorism financing in the financial sector (AMLA). As SWISSMONEY is not subject to direct FINMA supervision, regulatory issues should be addressed to SOFIT.

As used in these Terms of Use, “SWISSMONEY” refers to the company SWISSMONEY AG, registered with the Swiss Companies Register under the company number CHE-207.349.143 with its registered address at Steinenvorstadt 33, 4051 Basel, Switzerland.

SWISSMONEY is not a bank and, as such, is not part of a depositor protection scheme.

References to SWISSMONEY are also references to its owners, directors, investors, employees.

SWISSMONEY is an introducing platform which connects its Members to licensed service partners. When you register on SWISSMONEY your identity verification information and documents might be shared with Bitnuk AG and a wallet is opened for you at Bitnuk automatically. When you perform other actions via the SWISSMONEY platform, your identity verification information might be securely shared with the other relevant licensed service partners. All customer funds are securely held by licensed banks. When you withdraw funds, the funds will be coming from a bank account in the name of swissmoney AG.

Acknowledgments

By using this website (“Site”), registering for a SWISSMONEY AG Account (“Account”) or using any other SWISSMONEY AG Services, you (“you, your, or yourself”) are agreeing to accept and comply with the Terms and Conditions of use stated below (“Terms of Use”). You should read the entire Terms of Use carefully before using this Site or any of the SWISSMONEY AG Services.

By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of these Terms of Use, then you may not access the Service.

Depending on your country of residence, you may not be able to use all the functions of the Site. It is your responsibility to follow the rules and regulations applicable in your country of residence and/or country from which you access this Site and Services. As long as you agree to and comply with these Terms of Use, SWISSMONEY grants you the personal, non-exclusive, non-transferable, non-sublicensable, and limited right to enter and use the Site and the Service.

IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS OUTLINED IN THIS AGREEMENT, DO NOT ACCESS THIS SITE AND DO NOT USE OUR SERVICE.

Definitions

Account (or Profile): The contractual arrangement wherein a SWISSMONEY Member has accepted our Terms of Use and Privacy Policy, and received approval to use SWISSMONEY Services, including the option to open bank account, purchase a credit card or purchase and sale of cryptocurrencies, to perform associated Transactions and use swissmoney and/or swissmoney partners services.

Beneficial Owner: Any natural person who owns the Client (a legal person or a foreign undertaking) or controls the Client and/or the natural person on whose behalf a transaction or activity is being conducted.

Bitcoins: The Peer-to-Peer Internet digital currency further described at Bitcoin.org.

Cryptocurrencies: All digital currencies, including but not limited to Bitcoin.

Buyer(s): Member(s) that are submitting an offer to buy cryptocurrency and/or precious metals through the Service.

Commission or Fee: The charges or fees payable by you to us for the Services as set out in the Terms of use and its supplements or on a transaction basis, such as a buy or sell of cryptocurrency or precious metals.

Company: Means Swissmoney AG, a company registered with the Swiss Companies Register under the company number CHE-207.349.143 and authorized member of SOFIT with member number [enter], having its registered address at Steinenvorstadt 33, 4051 Basel, Switzerland.

Member(s) or Client(s): A natural or legal person, accepted by the Company as its Client to whom services will be provided by the Company under the Terms.
Personal Data: Information that identifies an individual, such as name, address, e-mail address, trading information, and banking details. “Personal Data” does not include anonymized and/or aggregated data that does not identify a specific user.

Price: The “price per coin” for which Members are willing to purchase or sell cryptocurrencies, using the Service in a purchase or sell transaction. The Price may be expressed in any of the currencies deposited by Members in their Account and supported by the Service. See our Site for a full list of currencies. SWISSMONEY may not offer currencies other than Euros at this time.

Seller(s): Member(s) that submit an offer to sell cryptocurrencies and/or precious metals through the Service.

Service(s): The technological platform, functional rules, client KYC & AML verification and market managed by SWISSMONEY to permit Sellers and Buyers to purchase and sell cryptocurrencies, precious metals and other services provided by licensed partners of swissmoney.

Transaction: Includes the following (as available from time to time):

• The action between the Member to Buy and/or Sell cryptocurrencies through the Service for currencies at the then-current market rate.
• The transfer of cryptocurrencies between Members (“Transfer Transaction”);
• The transfer of cryptocurrencies among Members (“Transfer Transaction”);
• The transfer of currencies among Members (“Currency Transfer Transaction”); and
• Transaction Price: The total price paid by the Buyer for each Transaction performed through the Service.

Business Model and Supervision

The business model and Service(s) of SWISSMONEY is to facilitate, through its secure money transfer platform, the buying and selling of cryptocurrencies, precious metals trading, enabling customers to open bank account(s) and/or order credit/debit card(s) for Members, and/or convert funds between different currencies among other services, as available from time to time.

SWISSMONEY is an authorized member firm of d’Organisme de Surveillance pour Intermédiaires Financiers & Trustees (“SOFIT”), a self-regulatory organization (“SRO”) recognized by the Swiss Financial Market Supervisory Authority (FINMA) and as required by the Swiss Federal Law on combating money laundering and terrorism financing in the financial sector (AMLA). Regulatory issues regarding SWISSMONEY should be addressed to SOFIT.

Account Application and Verification

The creation and use of your Account is subject to verifications, as required by statutory and regulatory obligations incumbent on SWISSMONEY. You agree to provide us with the information we request for the purposes of identity verification, compliance with know-your-customer rules, as well as detection of money laundering, terrorism financing, fraud or any other financial crime. The requested information may include Personal Data (please refer to our Privacy Policy). By providing us with the information we request, you confirm that it is true and accurate, and agree to inform us in case of change concerning such information. Your Account will be blocked until we will satisfied with the information you have provided and determine in our sole discretion that it is sufficient to validate your Account. In the meantime, you will not be allowed to terminate your Account or request the deletion of the Personal Data processed in the course of verification operations. SWISSMONEY utilizes and thus securely shares information with a third-party KYC/AML verification tool in addition to its internal identification screening procedures.

It is understood that we are not required (and may be unable under Applicable Regulations, including without limitation anti-money laundering checks, etc.) to accept a person as our Client. It is further understood that we reserve the right to impose additional due diligence requirements to accept Client(s) residing in certain countries or whenever this is required by the Company or our partner’s policies.

It is allowed to create only one Active Profile per Client with the Company. In the event that the Client has more than one Profile with the Company, the Company reserves the right to treat them as if they were under one Account and request the Client to choose the Main Profile in order for the duplicate Profile(s) to be terminated and/or merged (if technically possible).

Account Opening Eligibility

The Services are available to and may only be used by individuals or companies who can form legally binding contracts under the law applicable to their country of residence.

By registering for an Account, you expressly represent and warrant:

• That you have accepted these Terms of Use and Privacy Policy
• That you are at least 18 years of age;
• That you are not a citizen or resident of the countries which the Company does not accept as Clients;
• That you have capacity to act, i.e., to create rights and obligations through your actions.

Without derogating from the above, the Company reserves the right, acting reasonably, to suspend and/or refuse access to and use of the Company’s service(s) and/or system(s) and/or Platform to anyone in our sole and absolute discretion.

Maintaining Your Account

This Site is for your personal and non-commercial use only. We are vigilant in maintaining the security of our Site and Service. By registering with us, you agree to provide SWISSMONEY with current, accurate, and complete information about yourself, as prompted by the registration process, and to keep such information updated. Failure to do so constitutes a breach of these Terms of Use which may result in immediate termination of your account on our Service. You further agree that you will not use any Account other than your own, access the Account of any other Member at any time, or assist others in gaining unauthorized access.

The creation or use of Accounts without obtaining prior express permission from SWISSMONEY will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software, or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and SWISSMONEY may elect to take further action against you.

You are also responsible for maintaining the confidentiality of your Account information, including your password, and safeguarding your account and all activity including Transactions that are posted to your Account. In case of the cryptocurrency transactions be aware that they are irreversible once sent, so be sure to carefully confirm the receiving address before initiating a Bitcoin transaction. Any actions on the Site, transactions, orders and operations initiated from your Account or using your password (1) will be considered to have been made by you, and (2) is irrevocable once validated using your password or made through your Account. If there is suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and freeze any transactions pending our review. You are obligated to comply with these security requests or accept the termination of your Account. You are required to notify SWISSMONEY immediately of any unauthorized use of your Account or password, or any other breach of security, by email to [email protected]. The account of any Member who violates these rules may be terminated and the Member held liable for losses incurred by SWISSMONEY or any user of the Site.

Lastly, you agree that you will not use the Service to perform criminal activity of any sort, including but not limited to money laundering, illegal gambling operations, terrorist financing, malicious hacking or any criminal or illegal activity.

Top up / Add Money

You have option to add funds to your Account using credit/debit card and bank transfer.

Swissmoney will not accept third party or anonymous transactions. The credit card or bank account which you decide to use to fund your swissmoney Account(s) must belong to you and must be in your name. We do not accept money from people who are not you. We may require you to provide us with documents to verify the details, and the ownership of your payment method. If we cannot verify the details of your payment method, or if we cannot verify that the payment method belongs to you, you will not be able to deposit money into your Account, and therefore will not be able to use our Services.

All transactions are checked and may be processed up to a certain amount, as it may be defined by the Company from time to time, automatically. For fully verified accounts also first-time deposits may be processed automatically, however it remains on the Company’s discretion to request further documents in order to establish and verify the ownership of the used account/card in case discrepancies have been detected upon manual ex-post check. The processing of received bank transfers may take between 1 up to 7 business days.

The Company reserves the right to request the Client at any time to provide any documentation to confirm the source of funds deposited into the Client Account. The Company shall have the right to reject a deposit from the Client if the Company is not duly satisfied as to the legality of the source of funds.
Lastly, the Company accepts no responsibility for fees or charges applied on any transaction by your financial institution and/or currency exchange rates resulting from the payment of such amount. Consequently, such fees or charges shall be fully borne by you.

Transfer / Withdrawal

You may withdraw funds from your Account at any time in accordance with the Terms of Use, using a bank transfer option (SEPA and/or International transfer). Swissmoney will process the request provided the following requirements are met:

a. The withdrawal instructions include all necessary information;

b. The instruction is to make a bank transfer to the account of the Client (under no circumstances will payments to third party or anonymous accounts be accepted).

You further acknowledge and accept that the expected destination of outgoing transfers/payments will be the same as with the expected destination of incoming of funds. You may not be allowed to withdraw your funds by any other method, or to any other country, apart from your country of residence.

Crypto Exchange and Trading

SWISSMONEY allows its Clients to use its Partner’s (Bitnuk AG) Institution capabilities to buy and sell cryptocurrencies such as Bitcoin and Ethereum.
The Service operated by Bitnuk AG allows all customers of the Service (“Members”) to:

• Buy and Sell Bitcoin (herein “Bitcoin” or “cryptocurrency”).
• Transfer cryptocurrency and fiat currency to other Members and to non-Members who must become Bitnuk’s Members prior to withdrawing such cryptocurrency or fiat money.
• Bitnuk AG intends to allow Members to buy and sell other cryptocurrencies including but not limited to Ethereum in the future.

Client is automatically provided with a Crypto Ledger Trading Desk Account, which can be topped up from the current Account that client holds with Swissmoney. From here, client can execute buy or sell orders on any of the cryptocurrencies available, as well as withdraw crypto funds back to his/her swissmoney Account(s).

Client is advised to review and accept the Terms of Use, Privacy Policy and Risk Warning of Bitnuk AG, prior to using of the Crypto Exchange services.

Risk Warning

The trading of goods and products, real or virtual, as well as virtual currencies involves a significant risk. Prices can and do fluctuate on any given day. Such price fluctuations may increase or decrease the value of your assets at any given moment. Any currency, virtual or not, may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling, or trading anything on a market.

Trading cryptocurrencies also has special risks not generally shared with official currencies, goods, or commodities in a market. Unlike most currencies that are backed by governments, other legal entities, or commodities such as gold or silver, cryptocurrencies are a unique type of Internet digital currency, backed by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of cryptocurrencies in a crisis.
Instead, cryptocurrencies are an as-yet autonomous and largely unregulated global system of firms and individuals. Traders put their trust in a digital, decentralized, and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.

The trading of cryptocurrencies is often susceptible to irrational bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in cryptocurrencies because of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.

There may be additional risks that we have not foreseen or identified in these Terms of Use. You should carefully assess whether your financial situation and tolerance for risk are suitable for buying, selling, or trading cryptocurrencies.

We use our banking providers in order to receive client funds and make payments. Our banking providers DO NOT transfer, exchange, or provide any services in connection with cryptocurrencies.

Fees

Our fees charged are disclosed on a per transaction basis.

Other charges: The Company reserves the right to charge extra service fees for any documents requested by you for a personal use such as but not limited to acknowledgement letters, account confirmation letters for tax purposes or communication retrieval other than already included in the dedicated section for data transfer on the Client’s portal. The Company will communicate the fees to you upon receiving a request for any of the requested documentation.

Chargebacks and similar costs, that may arise from incorrect transactions will be borne by you.

IBAN Opening

By using the Platform, you are required to agree to the respective Agreements, Terms and Conditions and Privacy Policies of our authorized swissmoney partners, depending on the services you would like to use. You may be prompted to read and acknowledge these legal documents upon applying for such product or service on swissmoney Platform. Please read them carefully:

• Ibanera Bank Terms of Use
• Bank Frick Terms of Use

Termination

The Terms of Use enter into force on the day you register for the Profile and are valid as long as you have an Account with us. We may terminate or suspend your account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms of Use.

Upon termination, your right to use the Service will immediately cease. If you wish to terminate your account, you may simply discontinue using the Service.
However, do note that you may not close your Account / terminate this Terms of Use to avoid an investigation. If you attempt to close your Account / terminate this agreement while swissmoney is investigating, we may freeze the Profile / Account (s) to protect all parties to the swissmoney services, its affiliates, or a third party against any liability. You will remain liable for any obligations related to your swissmoney Account and your activity even after it is closed.

The termination of your Profile / Account will not affect any of our rights or your obligations arising under these terms of use. Any terms which by their nature should survive, will survive the termination of your Profile / Account.

Limited Right of Use

Unless otherwise specified, all Materials on this Site are the property of SWISSMONEY and are protected by copyright, trademark, and other applicable laws. You may view, print, and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, and/or non-commercial use, provided you comply with all copyright and other proprietary notices.

The trademarks, service marks, and logos of SWISSMONEY and others used in this Site are the property of SWISSMONEY and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Site belongs to SWISSMONEY. The Trademarks and Materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected, or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark, and other applicable laws, and could result in criminal or civil penalties.

Availability of Services

All services are provided without warranty of any kind, either express or implied, and in particular without implied warranties of merchantability and fitness for a particular purpose. We do not guarantee that this Site will be available 100% of the time to meet your needs. We will strive to provide you with the Service as soon as possible, but there are no guarantees that access will not be interrupted or that there will be no delays, failures, errors, omissions, or loss of transmitted information.

We will use reasonable endeavors to ensure that the Site can be accessed by you in accordance with these Terms of Use. However, we may suspend the use of the Site for maintenance and will make reasonable efforts to give you notice of this. You acknowledge that this may not be possible in an emergency, and accept the risks associated with the fact that you may not always be able to use the Site or carry out urgent transactions using your Account.

APIs and Widgets

We may provide certain parties with access to specific data and information through our API (Application Programming Interface) or widgets. We also may provide widgets for your use to enter our data on your Site. You are free to use these in their original unmodified and un-altered state.

External Websites

SWISSMONEY makes no representations whatsoever about any external or third-party website you may access through the Site. Occasionally, the SWISSMONEY website may provide references or links to other websites (“External Websites”). We do not control these External Websites or third-party sites or any of the content contained therein. You agree that we are in no way responsible or liable for the External Websites referenced or linked from the SWISSMONEY website, including but not limited to website content, policies, failures, promotions, products, opinions, advice, statements, prices, activities and advertisements, services, or actions, and/or any damages, losses, failures, or problems caused by, related to, or arising from those sites. You shall bear all risks associated with the use of such content.

External Websites have separate and independent Terms of Use and related policies. We request that you review the policies, rules, terms, and regulations of each site that you visit. It is up to you to take precautions to ensure that whatever you select for your use is free of items such as viruses, worms, Trojan horses, and other items of destructive nature.

Financial Advice

SWISSMONEY does NOT provide any investment advice in connection with the Services described in these Terms of Use. Any decision to use swissmoney Partner’s services such as purchase or sell cryptocurrencies through Bitnuk AG or other available services through other Partners, is solely your decision and we shall not be liable for any loss suffered.

Data protection

Privacy is very important to us. Full details of our Privacy Policy can be found on our Privacy Policy page. We recommend that you read the Privacy Policy carefully, so that you know the data that we collect, how we use the data and who we share your data with.

Disclosures to Legal Authorities and Authorized Financial Institutions

We may share your Personal Data with law enforcement, data protection authorities, government officials, and other authorities when:

• Required by law;
• Compelled by subpoena, court order, or other legal procedure;
• We believe that disclosure is necessary to prevent damage or financial loss;
• Disclosure is necessary to report suspected illegal activity; or
• Disclosure is necessary to investigate violations of our Terms of Use or Privacy Policy.
• For further information on how we process your Personal Data, please refer to the Privacy Policy.

Limitation of Liability

To the extent permitted by law, SWISSMONEY will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect, or consequential loss, unless the loss suffered arose from gross negligence or willful deceit or fraud. Nothing in these Terms of Use excludes or limits the liability of either party for fraud, death, or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not be limited or excluded by law. Although SWISSMONEY endeavors to provide accurate and timely information on the Site, the Site may not always be entirely accurate, complete or current and may include errors. We may change or update the Site at any time without notice, and you should accordingly verify with independent sources all information before relying on it to take decisions or actions. You remain entirely responsible for your decisions and actions.

We can face technical or system error which is beyond the Company’s reasonable control. There may occur events such as power supply, telecommunication issues, natural disasters etc. that cause system interruption beyond the service providers’ control. When such an error occurs during the execution of clients’ requests the Company accepts no liability with the exception of any grossly negligence, fraudulent, dishonest or criminal conduct on the part of the Company, its directors, its officers or employees when acting within the scope of the service agreement (Terms of Use).

Subject to the foregoing, SWISSMONEY‘s aggregate liability for claims based on events arising from or in connection with any single Member’s use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) 100% of the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).

You should be also aware that in some cases intermediary banks may hold the funds you attempt to deposit or withdraw from your Account, which may delay the transfer of funds and which the Company has no control over. The Company will not be held liable for such actions or omissions by intermediary banks.

Legal Disclaimer

Your use of the Service is at your sole risk. The Service is provided on an “AS IS” and “AS AVAILABLE” basis. The Service is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, non-infringement or course of performance.

SWISSMONEY, its subsidiaries, affiliates, and its licensors do not warrant that a) the Service will function uninterrupted, secure or available at any particular time or location; b) any errors or defects will be corrected; c) the Service is free of viruses or other harmful components; or d) the results of using the Service will meet your requirements.

Indemnity

To the full extent permitted by applicable law, you hereby agree to indemnify SWISSMONEY and its partners against any action, liability, cost, claim, loss, damage, proceeding, or expense suffered or incurred if directly or indirectly arising from your use of SWISSMONEY’s Sites, your use of the Service, or your violation of these Terms of Use.

Miscellaneous

If we are unable to perform the Services outlined in the Terms of Use due to factors beyond our control including but not limited to an event of force majeure, change of law, or change in sanctions policy, we shall not be liable for the Services provided under this agreement during the time period coincident with the event.

Modification of Terms

SWISSMONEY reserves the right to change, add, or remove parts of these Terms of Use at any time and at its sole discretion. You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms of Use. Your continued use of the Site following the posting of a notice of changes to the Terms of Use signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms of Use.

Changes

We reserve the right, at our sole discretion, to modify or replace these Terms of Use at any time. If a revision is material, we will try to provide at least 30 days’ notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, please stop using the Service.

Email communication

Unencrypted email messages sent over the Internet are not secure and SWISSMONEY is not responsible for any damages incurred as a result of sending email messages in this way. We suggest existing Members always log in to the SWISSMONEY site and use the internal support messaging system by clicking “Support” in the footer menu or, for non-Members, always send email in encrypted formats. You are welcome to send PGP encrypted emails to us. The instructions and keys to do so are available upon request. Please never send us or anyone else your password by email.

If you send unencrypted or unsecured email or other types of communications to us, we may respond using the same channels and you hereby accept the risks associated therewith.

swissmoney will never contact you from an email account that does not end with @swissmoney.com. If anyone, including a person that you know to be associated with swissmoney ever contacts you via email with an address that does not end with @swissmoney.com, please notify our compliance department at [email protected] immediately.

Recording your communication with us

You agree that we may record any telephone, email and chat conversations with you, as well as any other forms of communications, activities, and transactions, between you and us, and that the recordings may be used as evidence in any proceedings relating to our Agreement with you, any order you place, and/or trades executed. These records will be our sole property.

Contact Us

If you are a Member, and have any questions relating to these Terms of Use, your rights and obligations arising from these Terms, and/or your use of the Site and the Service, your Account, or any other matter, please Contact Us via our internal secure messaging platform, from within your account by clicking “Support” in the footer after logging in or, if you cannot Contact Us using our internal secure messaging platform, you can email us via the contact form on the Contact Us page of our website. If you email us without using our internal secure messaging platform, please send PGP encrypted emails to us. The instructions and keys to do so are available upon request. For more information about email communications, see the section titled “Email communication” above.

Consent to Use of Cookies

This website uses cookies to ensure you have the best experience. By continuing to use this site, you consent to our Cookie Statement. You can disable cookies at any time, by changing your browser settings. See our Cookie Statement for instructions on how to disable cookies, and the effect this will or may have on the Services.

Jurisdiction, Governing Law

The Terms of Use shall be governed and construed in accordance with the laws of Switzerland, without regard to its conflict of law provisions. The parties hereto agree to irrevocably submit to the exclusive jurisdiction of the courts of Basel (4051), Switzerland.

Our failure to enforce any right or provision of these Terms of Use will not be considered a waiver of those rights. If any provision of these Terms of Use is held to be invalid or unenforceable by a court, the remaining provisions of these Terms of Use will remain in effect. These Terms of Use constitute the entire agreement between us regarding our Service and supersede and replace any prior agreements we might have between us regarding the Service.

Privacy Notice (Short Version)

Last updated 1 December 2020

This privacy notice applies to SWISSMONEY AG, which sometimes use trading names including SWISSMONEY (together “SWISSMONEY” or “we” or “our”).

This notice shows our commitment to protect your privacy rights and sets out the basis on which any personal information we collect from you, or that you provide to us, will be processed by us. It applies to:

• the website/portal features and services provided to you when you visit our websites, portals or our payment panels our clients may use on their websites;
• your use of software including terminals, mobile and desktop applications provided by SWISSMONEY; and
• email, other electronic messages including SMS, telephone, web chat, website/portal and other communications between you and SWISSMONEY.

Please read the following carefully to understand our views and practices regarding your personal data and how we will treat it.

SWISSMONEY takes a ”layered approach” to explaining its privacy practices, as recommended by regulators. This means that we endeavor to initially provide you with the key privacy information in the form of this ”short form” privacy notice. To review our complete privacy notice, please see our Comprehensive Privacy Policy. Contact us details are provided at the end of this privacy notice, for feedback or any privacy enquiries you may have.

INFORMATION WE MAY COLLECT FROM YOU

You may provide some information to us, for example when you enquire for or make an application for the SWISSMONEY Services, register to use and/or use any SWISSMONEY Services, by filling in forms on one of our websites, participating in one of our events or by corresponding with by us phone, e-mail, web chat or otherwise. We may collect some of it through automatic means, for example by using cookies when you visit our websites. Read our Cookie Statement to know more. We may also obtain data about you from third parties, like credit reference and fraud prevention agencies.

USES OF THE INFORMATION

We use information we collect about you to provide you with the products we offer, to notify you about changes to our products and to improve our products. We also use this information to provide you with information about other products we or selected third parties offer which are similar to the ones you have used or enquired about or we think may be of interest to you. If you use one of our financial products, we will also use your information to assess your financial situation and to try to identify and prosecute possible frauds.

DISCLOSURE OF YOUR INFORMATION

We will not disclose your personal data to anyone except as described in this notice. We may share your personal information with third parties to provide you with the products we offer, including service providers, credit reference agencies and financial institutions. We may also share your personal information with third parties to prevent crime and reduce risk, if required to do so by law, where we deem it appropriate to do so, to respond to legal process or to protect the rights or property of SWISSMONEY, our customers or others.

WHERE WE STORE YOUR PERSONAL DATA AND DATA SECURITY

The information SWISSMONEY collects from you may be transferred to, stored at and processed by recipients located in destinations outside the European Economic Area (“EEA”). These countries may have data protection standards that are different to (and, in some cases, lower than) those in which you reside. We will take all steps necessary to ensure that the recipients will use and protect your information in the same secure way that we do.

If we have given you (or if you have chosen) a password, access code or any other secure means or access or authentication which enables you to access certain parts of our site, you are responsible for keeping this password confidential and complying with our instructions. You must not share your password or other login credentials with anyone, and you hereby authorise SWISSMONEY to act upon instructions and information from any person that enters your credentials.

The transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our site, unless you are communicating with us through a secure channel provided by us. Once we have received your information, we will use strict procedures and security features in an effort to prevent unauthorised access.

YOUR RIGHTS

Where applicable, you may have certain rights under data protection legislation, including the right to access, correct, update or delete your personal information; object to or restrict its processing; request to transfer certain of your personal information to another service provider (so called, data portability); or to revoke any consent you have given.

However, please note that there are exceptions to those rights. For the full explanation of the rights available, please refer to our Comprehensive Privacy Policy.

AUTOMATED DECISION MAKING

Automated decisions mean that a decision concerning you is made automatically on the basis of a computer determination (using software algorithms), without our human review.

For example, we use automated decisions to complete a credit assessment on you when you apply to financial services of SWISSMONEY, or to carry out anti-fraud checks on the transactions you perform. However, if you are in the European Union, you have the right to object to the automated decision and have it manually reviewed based also on information that you can provide. You can contact us at the details below to exercise your right.

LEGAL BASIS FOR PROCESSING

SWISSMONEY will process your personal information only when we have one of the following grounds:

• On the basis of your consent, for example to send you marketing messages;
• Where necessary to enter into a contract with you and perform our obligations under that contract;
• Where we have a legitimate interest, subject to such processing not overriding your own rights and freedoms;
• Where we have a legal obligation to collect your personal information or otherwise need your personal Information to protect your vital interests or those of another person; or
• Exceptionally, when necessary in the public interest, for example when law enforcement agencies request information to investigate a crime.

CHANGES TO OUR PRIVACY NOTICE

Any changes we may make to our privacy notice in the future will be posted on this page and, where appropriate, you will be notified by e-mail. Please check back frequently to see any updates or changes to this privacy notice.

CONTACT US

At SWISSMONEY, we welcome all comments, queries and requests relating to our use of your information.

Our Data Protection Officer is the person in charge of ensuring our company adheres to this privacy notice. This person is also the main contact for our Data Protection Supervisory Authority. If you wish to exercise any of your rights or receive further information concerning SWISSMONEY AG (to which this notice applies), you should write to our Data Protection Offer (DPO) via the contact form on the Contact Us page of our website or at the address below:

SWISSMONEY AG, Steinenvorstadt 33, 4051 Basel, Switzerland

Privacy Notice (Comprehensive Version)

This privacy notice applies to SwissMoney AG, which sometimes use trading names including SwissMoney (together “SwissMoney” or “we” or “our”).

This notice shows our commitment to protect your privacy rights and sets out the basis on which any personal information we collect from you, or that you provide to us, will be processed by us. It applies to:

• the website/portal features and services provided to you when you visit our websites, portals or our payment panels our clients may use on their websites;
• your use of software including terminals, mobile and desktop applications provided by SwissMoney; and
• email, other electronic messages including SMS, telephone, web chat, website/portal and other communications between you and SwissMoney.

The swissmoney Website is not intended for the use by anyone under the age of 18. If you are below the age of 18, you may not use the swissmoney Website.

We ask that you read this Policy carefully as it contains important information about what to expect when we collect personal information about you and how we will use your personal data.

I. Introduction

1. The aim of this Policy is to set out the purposes for which, and the manner in which, we may collect and use personal information obtained about you. By either registering as a user of any services provided by us on the swissmoney Website, and/or by using the swissmoney Website, you consent and to this use by us. You may choose not to provide any information to Us, however Swissmoney may be unable to provide services.
2. Your use of swissmoney Website is also governed by our online Terms and Conditions. Please ensure you have read the Terms and Conditions as well as this Policy. Please pay attention to the fact that Swissmoney may update this Privacy policy from time to time, therefore please do review it regularly.
3. Your personal data controller is Swissmoney as specified in the Terms & Conditions. We have appointed a data protection officer (“DPO”) and you can contact our DPO via email at [email protected].
4. We comply with the applicable data protection laws, in particular the Swiss Data Protection Act (SDPA) and the EU General Data Protection Regulation (GDPR), where applicable. For individuals who reside in the European Economic Area (including the United Kingdom) (collectively “EEA Residents”), pursuant to Article 6 of the EU General Data Protection Regulation (GDPR) or any equivalent legislation (collectively “EEA Data Protection Law”), we process this personal information based on our Terms of use (Agreement) with you to comply with our legal obligations, to satisfy our legitimate interests as described above and to satisfy on your consent.
5. Security is highly important to us. We take all reasonable measures to protect personal data from loss, theft, misuse and unauthorized access, disclosure, alteration and destruction, including industry standard security and encryption features.
6. If the Profile is opened by legal person, Head or other representative of the Client clearly inform data subjects (Beneficial owners, Head, etc.) about transfer of their data to Us and ensure to present this Privacy policy to them.

II. Definitions

„Account“ shall mean the contractual arrangement wherein a SwissMoney member has accepted our Terms of Use and Privacy Policy, and received approval to use the SwissMoney Services, including the purchase and sale of Bitcoins and to perform associated Transactions.

„AML“ shall mean anti-money laundering and counter-terrorism financing regulations.

„DPL“ shall mean data protection law applicable to SwissMoney, including the Swiss Data Protection Act, draft of September 2017, its successors or implementing texts as well as equivalent legislation, which is applies to the processing of Personal Data by SwissMoney.

„Personal data“ shall mean any information that identifies an individual, such as name, address, e-mail address, trading information, and banking details. Personal Data does not include anonymised and/or aggregated data that does not identify a specific user.

„Service(s)“ shalll mean the technological platform, functional rules and market managed by SwissMoney to permit Sellers and Buyers to perform purchase and sale transactions of Bitcoins and/or other Cryptocurrencies.

„Supervisory institutions“ shall mean d’Organisme de Surveillance pour Intermédiaires Financiers & Trustees (“SOFIT”), Swiss Financial Market Supervisory Authority (FINMA), or other institutions that directly or indirectly supervise our activity.

„Swissmoney platform“ shall mean hardware and software technologies used by SwissMoney to provide the SwissMoney Service as set out in our Terms of Use.

„Transaction“ shall include the following:

• The action between the Member to Buy and/or Sell cryptocurrencies through the Service for currencies at the market rate.
• The transfer of cryptocurrencies between Members (“Transfer Transaction”);
• The transfer of currencies among Members (“Currency Transfer Transaction”); and
• SwissMoney may not offer all these transaction types at this time.

„You“ or „Your“ or „the Client“ shall mean the natural person who is contracting with us, making payment to our System or representative, Beneficial owner on whose behalf the Personal data is provided.

Other terms in this Privacy policy are used as defined in our online Terms & Conditions.

III. The purposes of processing

1. Data collection and use of personal information

We collect and process Your data for the following purposes:

a) Provision of Payment services; Verification of the identity; prevention of fraud, money laundering, counter-terrorist financing, other financial crimes; implementation of other obligations under AML requirements;

b) Notification about changes in our Services and dispute prevention;

c) Dispute settlement;

d) Marketing;

A. Provision of Payment services; Verification of the identity; prevention of fraud, money laundering, counter-terrorist financing, other financial crimes;

Implementation of other obligations under AML requirements

1. Swissmoney is required by law to verify your identity, monitor transactions of the Client, prevent fraud, money laundering, counter-terrorist financing, other financial crimes, properly implement obligations of payment service provider and comply with AML regulations.

2. For this purpose, We may collect below data about the natural person client or representative of the legal person client:

• Data about your identity: name, surname, personal identification number or other unique sequence of symbols assigned to the person for identification purposes, date of birth, personal identification document number, copy of personal identification document, nationality or the state which has issued the personal identification document, country of residence, ID number in Swissmoney system, Account number in Swissmoney system, face photo, etc. („Identity data“);
• Contact data: address, phone number, email address, etc. ( „Contact data“);
• KYC data: account number on other payment service providers, checks on public and private registries, fraud, money laundering, counter-terrorist financing and other financial crimes prevention agencies, employer, position, address, occupation, used Services, payment and other transactions, turnover, source of funds, countries from to which funds will be received / transferred, information of political involvement, other data of monitoring of Client’s activity, etc. („KYC data“);
• Device information: OS of device, browser type and version used for access to Profile, IP and location, time zone setting, etc. („Device information“);
• Financial information, such as bank account numbers, bank statement, and trading information; („Financial information);
• Online Identifiers: Geo location/tracking details, browser fingerprint, OS, browser name and version, and/or personal IP addresses; („Online Identifiers“)
• Usage Data: Survey responses, information provided to our support team, public social networking posts, authentication data, security questions, user ID, click-stream data and other data collected via cookies and similar technologies. Please read our Cookie Statement for more information. („Usage data“)
• Swissmoney payment card information: number and CVC code of payment card, PIN code, relevant expiry dates, etc. („Payment card information“);
• Any other information that you or your customer provide to us.

3. We may also collect and process Identity data about Beneficial owners of legal entity. Also Identity data might be collected and processed about Head of legal entity if Profile has been opened by other representative of the Client;

4. We may collect data from You and from third parties, We may search publicly available information about You in order to Verify your identity, process transactions, detect and prevent fraud or other similar purposes,

5. We collect data mentioned above as We are required by law and We need this information as to enter contractual relationship with the Client. If you or a representative of legal entity won’t provide required data, We may refuse to enter into contractual relationship and provide Services for the Client,

6. We may provide your data to: supervisory institutions, banking and financial services partners, other payment service providers, payment card manufacturing/ personalization and delivery companies, companies that provide identification and sanctions/ watch lists screening, transaction monitoring services, government institutions, attorneys, bailiffs, pre-trial investigation institutions, courts, auditors, debt recovery agencies, companies that handle joint debtor data files, fraud, money laundering, terrorist financing and other financial crimes prevention agencies, other subjects that have legitimate interest or Your acceptance.

7. We process personal data for as long as is necessary for the relevant purpose(s) or as required by law (e.g., our tax obligations, AML obligations and obligations to retain business records).

8. We may provide your data to third countries as to perform Your payment transaction to third country recipient or using third country partners services for the payment transaction, in which case we ensure that there is adequate protection for such personal data either by ensuring that the transfer is made on the basis of an adequacy decision (such as the EU-CH adequacy decision), or by use of safeguards described in Art. 6 of the SDPA respectively Article 46 of the GDPR In some cases, we may transfer your data to countries without adequate data protection, provided that the requirements under the applicable data protection laws, such as your explicit consent, are met.

B. Notification about changes in our Services and dispute prevention.

1. We are required by law to notify You about changes in our Services and Terms & Conditions for provision of services. These notifications are not marketing material and are to be provided as required by law. According to this You shall not have the right to object receiving such notifications. For this purpose, we may process Your Contact data.

2. We process above mentioned data as We are required by law and for the performance of the contract with the client.

3. You can also refer to Us requiring information from Us, to consult with Us about our Services or to inform Us about unauthorized payments, demand to block Your payment instrument or ask to provide other information. You may contact Us by phone or email. As You contact Us We may process Your Identity data, Contact data, Device data, also record our phone conversations and store content of our correspondence and history of it.

4. Above mentioned data is processed:

• As You refer to Us by phone: for the purposes of the legitimate interests pursued by Us to prevent disputes between you and Us about proper provision or receiving of information.
• As You refer to Us by email or letter: data is collected for the law requirement purposes and for the purposes of the legitimate interests pursued by Us to prevent disputes between you and Us about proper provision or receiving of information.

5. Your data may be provided to supervisory institutions, attorneys, pre-trial investigation institutions, courts, auditors, debt recovery agencies, companies that handle joint debtor data files, other subjects having Your acceptance.

C. Dispute Settlement

1. Before starting a dispute with Us firstly You should contact Swissmoney so that we can handle your complaint and satisfy it benevolently if it is well grounded. If you are not satisfied with our reply, You can address competent authority according to Our Complaints policy.

2. As the dispute may arise, for dispute settlement purposes We may collect and process such data: Identity data, Contact data, KYC data, also data provided in Your claim and its supplements, other data needed to investigate Your claim. The data is processed as We are required by the law.

3. Your data may be provided to supervisory institutions, attorneys, pre-trial investigation institutions, courts, auditors, debt recovery agencies, companies that handle joint debtor data files, other subjects having Your acceptance.

D. Marketing

1. We may provide you by email the information about our current and new Services, other goods and services We offer that are similar to those that you have already used or inquired about, to provide you or permit selected third parties to provide you information about goods or services We feel may interest You.

2. Email for our direct marketing purposes (newsletters) will be processed only with Your separate acceptance.

3. You have the right at any time to object to your email usage for direct marketing purposes.

4. We may provide your email-address to email marketing service providers to send you newsletters on our behalf.

5. We hereby inform you that we may also use your personal data (such as used services, location, IP, behavior, etc.) to form a view on what We think You may want or need, or what may be of interest to you and show You adverts in our webpage.

6. We may also provide anonymized information to advertisers to promote our products and services. Therefore, such anonymized information would be used to help our advertising partners provide a targeted campaign, relevant for a sub-section of our Clients.

7. You have the right at any time to object to your data usage for marketing purposes.

8. We may contract (hire) certain service providers, i.e. data processors, to process your personal data. These may be companies providing data storage, server and/or communication services, companies developing and maintaining software, companies providing marketing services and analysis of activities online, online traffic and website analysis, statistics services and other service providers. Your personal data may be transferred to these data processors only when and solely to the extent necessary for the provision of the respective services of these data processors.

2. Use of Cookies and Similar Technology

1. SwissMoney receives and stores certain information automatically whenever you interact with SwissMoney. The SwissMoney website uses cookies. Cookies are small text files that are placed on your computer by websites that you visit, including SwissMoney. They are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.

2. Cookies are typically stored on your computer’s hard drive. Information collected from cookies is used by us to evaluate the effectiveness of our website, analyze trends, and administer the Platform. The information collected from cookies allows us to determine such things as which parts of our website are most visited and difficulties our visitors may experience in accessing our website. With this knowledge, we can improve the quality of your experience on the Platform by recognizing and delivering more of the most desired features and information, as well as by resolving access difficulties. We also use cookies and/or a technology known as web bugs or clear gifs, which are typically stored in emails to help us confirm your receipt of, and response to, our emails and to provide you with a more personalized experience when using our website. The information we collect includes:

• Technical information, including the Internet protocol (IP) address used to connect your computer or device to the Internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system platform;
• Information about your visit or whether you opened an email, including the full Uniform Resource Locators (URL) clickstream to, through and from our site (including date and time); products or services you viewed or searched for; page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks and mouse-overs) and methods used to browse away from the site page and any phone number used to call our customer service number.

3. We use third party service provider(s), to assist us in better understanding the use of our website. Our service provider(s) will place cookies on the hard drive of your computer and will receive information that we select that will educate us on such things as how visitors navigate around our site, what products are browsed, and general Transaction information. Our service provider(s) analyses this information and provides us with aggregate reports. The information and analysis provided by our service provider(s) will be used to assist us in better understanding our visitors’ interests in our website and how to better serve those interests. The information collected by our service provider(s) may be linked to and combined with information that we collect about you while you are using the Platform. Our service provider(s) is/are contractually restricted from using information they receive from our website other than to assist us.

4. If you want to avoid using cookies altogether, you can disable cookies in your browser. However, disabling cookies might make it impossible for you to use certain features or our website or services, such as logging on to your SwissMoney Account or making transactions. Your use of our website or service with a browser that is configured to accept cookies constitutes an acceptance of our and third-party cookies.

5. For more information about cookies, the types of cookies we use and how we use them please see our Cookie Statement.

3. Data processing

1. Your data will be processed by automated means, as well as to manual processing, including automated individual decision-making and profiling, for various processing purposes.

2. Automated decision making and profiling might be used for Verification of your identity, monitoring Your operations and activity in the Profile, predicting other aspects of Your behavior. Such procedures are necessary according to AML requirements and necessary for entering and performing business relationship between Us and the Client. Swissmoney implements suitable measures to safeguard Your rights and freedoms and legitimate interests, including the right to obtain human intervention. You also have the right to express your point of view and to contest the decision.

3. The information We process about You is stored on our secure servers. We use all needed technical, organizational and other means to protect your data.

III. Disclosing and transferring personal data

We may disclose your Personal Data to third parties and legal and regulatory authorities and transfer your Personal Data outside the Switzerland and the EEA, as described below.

1. Disclosures to Third Parties

1. There are certain circumstances where we may transfer your Personal Data to employees, contractors and to other parties:

• We may share information about you with other members of our group of companies so we can provide the best service across our group. They are bound to keep your information in accordance with this Privacy Policy;
• We may also share your information with certain contractors or service providers. They may process your Personal Data for us, for example, if we use a marketing agency. Other recipients/service providers include advertising agencies, IT specialists, database providers, backup and disaster recovery specialists, email providers or outsourced call centres. Our suppliers and service providers will be required to meet our standards on processing information and security. The information we provide them, including your information, will only be provided in connection with the performance of their function;
• We may also share your information with certain other third parties. We will do this either when we receive your consent or because we need them to see your information to provide products or services to you. These include credit reference agencies, anti-fraud databases, screening agencies and other partners we do business with.
• We may share your information to improve and develop our business, including without limitation to optimise our websites/portals, products and services. This may include using information you insert into forms but do not submit to us, for example by using that information to optimise our website(s) and contacting you for customer services purposes in relation to that form. We can also use your personal information to develop and test new products and services.

2. Your Personal Data may be transferred to other third party organisations in certain scenarios:

• If we’re discussing selling or transferring part or all of our business – the information may be transferred to prospective purchasers under suitable terms as to confidentiality;
• If we are reorganised or sold, information may be transferred to a buyer who can continue to provide services to you;
• If we’re required to by law, or under any regulatory code or practice we follow, or if we are asked by any public or regulatory authority – for example the Police;
• If we are defending a legal claim your information may be transferred as required in connection with defending such claim.
• To comply with local and national laws;
• To send marketing messages, to provide you with the information on products and services you have requested or we think may be of interest to you; to obtain your views on our goods, services and our website(s); in respect of marketing, market research and similar activities, we may use your personal information for such purposes whether or not you are accepted as or continue to receive SwissMoney Services. If you no longer wish to receive marketing or promotional information from SwissMoney, you can always stop it;
• To manage and mitigate our credit risks. if you apply for one of our financial products we will assess your financial position (and / or of your business), to the extent this is provided for in the applicable Terms of Use. This credit check will also affect any linked parties such as directors, shareholders and principals. We can do so by receiving and sharing information from and with credit reference agencies and fraud prevention agencies. This credit check will affect also anyone with whom you have a joint account or similar financial association. If it is a joint application, and such link does not already exist, then one may be created. These links will remain until you file a “notice of disassociation” at the credit reference agencies. For your information, the agencies will record our enquiries which may be seen by other companies who make their own credit enquiries; and a “footprint” may be placed on your credit file, whether or not you are accepted as our customer. If you are a director, we will seek confirmation from credit reference agencies that the residential address that you provide is the same as that held by the relevant companies’ registry (where applicable). In addition, where you take services from us, we will give information on how you manage your accounts to the credit reference agencies. If you do not repay any monies in full and on time, credit reference agencies will record the outstanding debt and may share this information with other organization that perform checks similar to ours. Records remain on file at such agencies for 6 years after they are closed, whether settled by you or defaulted. If you would like further information on our use of credit reference agencies, please Contact Us;
• To prevent, detect and prosecute fraud or crime, SwissMoney may participate in anti-fraud initiatives, which involve assessing you (and/or your customers) and monitoring your transactions and/or locations, to detect patterns requiring investigations or otherwise profile and assess the likelihood of fraud occurring. We can do so utilizing products and services from third parties. Besides, if you give us false or inaccurate information about you, or we identify or suspect a fraud or a crime, we may pass your information to fraud prevention agencies and to law enforcement agencies, and we may decide to take legal action against you;
• To prevent or mitigate information security risk;
• To manage and enforce our rights, Terms of Use or any other contracts with you (and/or your business), including to manage any circumstances where transactions, rewards or points are disputed; manage, investigate and resolve complaints; or recover debt or in relation to your insolvency;

3. Your Personal Data may be shared if it is made anonymous and aggregated, as in such circumstances the information will cease to be Personal Data.

4. Your information will not be sold, exchanged, or shared with any third parties without your consent, except to provide SwissMoney Services or as required by law.

5. The third-party service providers of SwissMoney are contractually bound to protect and use such information only for the purposes for which it was disclosed, except as otherwise required or permitted by law. We ensure that such third parties will be bound by terms complying with DPL.

6. Specifically, Your Personal Data may be transferred to the following third party organisations in certain scenarios:

• GlobalPass analyses ID documents, and other AML-KYC related documents and information to assist us in satisfying our KYC obligations. GlobalPass processes and stores data in ISO 27001-certified data centers worldwide. Learn more about how GlobalPass processes data.
• When you top up through the Platform by wire transfer or credit card, your Personal Data may be shared with Bitnuk AG, as a free-of-charge crypto wallet is automatically created upon registration. Bitnuk AG processes and stores data in ISO 27001-certified data centers worldwide. Learn more about how Bitnuk processes data.
• When you hold, buy, sell or transfer cryptocurrency through the Platform, your Personal Data may be shared with Bitnuk AG. Bitnuk AG processes and stores data in ISO 27001-certified datacentres worldwide. Learn more about how Bitnuk processes data.
• When you open bank account (IBAN opening), your Personal Data may be shared with Bank Frick and/or Ibanera Bank and or another provider specified on the Platform. Bank Frick processes and stores data in ISO 27001-certified data centers worldwide. Learn more about how Bank Frick processes data; Learn more about how Ibanera Bank processes data.
• When you apply for a debit card through the Platform, Your Personal Data may be shared with UAB Creditco for the approval process. UAB Creditco processes and stores data in ISO 27001-certified data centers worldwide. Learn more about how UAB Creditco processes data.

2. Disclosures to Legal Authorities

1. SwissMoney may be required by law to pass information about you to regulatory authorities and law enforcement bodies worldwide, or we may otherwise determine that it is appropriate or necessary to do so. Such disclosures may also include requests from governmental or public authorities, or with commercial organizations with whom you may have had dealings and whom are seeking to mitigate fraud risk, or for the purposes of litigation or legal process, national security or where we deem it in the national or public interest or otherwise lawful to do so. As such, we may share your Personal Data with law enforcement, data protection authorities, government officials, and other authorities when:

a) Compelled by court order, or other legal procedure.
b) Disclosure is necessary to report suspected illegal activity.
c) Disclosure is necessary to investigate violations of this Privacy Policy or our Terms of Use.

3. International Transfers of Personal Data

We store and process your Personal Data in data centers around the world, wherever SwissMoney facilities or service providers are located. As such, we may transfer your Personal Data outside of Switzerland and the European Union. Some of the countries to which your Personal Data may be transferred for these purposes that are located outside Switzerland or the EU do not benefit from an adequacy decision issued by the Swiss Data Protection and Information Commissioner or by the EU Commission regarding protection afforded to Personal Data in that country. Details of these specific countries can be found here: https://www.edoeb.admin.ch/edoeb/de/home/datenschutz/handel-und-wirtschaft/uebermittlung-ins-ausland.html and https://ec.europa.eu/info/law/law-topic/data-protection/data-transfers-outside-eu/adequacy-protection-personal-data-non-eu-countries_en. Such transfers are undertaken in accordance with our legal and regulatory obligations and appropriate safeguards under DPL will be implemented, such as standard data protection clauses with data recipients or processors approved by competent authorities. A copy may be requested at the address set out in the Contact Us section.

IV. Your Rights

1. Please be informed about your rights under Data Protection regulations in relation to Your personal data:

a) Right to Information: The right to ask us for information about what personal data of Yours is being processed and the rationale for such processing.

b) Right of Access: The right to access your personal data;

c) Right of Rectification: The right of rectification of inaccurate personal data concerning you, and the right to have incomplete personal data completed. Please be advised that we may need to verify the accuracy of the new data You provide to Us;

d) Right of Erasure (the right to be forgotten): The right of erasure of personal data concerning You if there is no convincing reason for Us continuing to process it. Please be advised that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to You, if applicable, at the time of your request. Please note that Under GDPR Article 17(3)(b), legal requirements take precedence over the right to be forgotten. From an AML perspective, both customer due diligence and transaction records have to be retained for a minimum of a set number of years after the end of the customer relationship and Swissmoney will retain Your data, in line with AML regulations, for a minimum of 10 years. In this context, the right to be forgotten would only be enforceable after this period had ended. We will then take reasonable steps to securely destroy such information or permanently de-identify it.

e) Right of Restriction of Processing (Right to withdraw Consent): The right to obtain from Us restriction of processing if there is legitimate reason. Where processing has been restricted, such personal data shall, with the exception of storage, only be processed with your consent or for the establishment, exercise or defense of legal claims or for the protection of the rights of another natural or legal person or for reasons of important public interest of the EU or of a Member State.

f) Right to Data Portability: The right to receive the personal data concerning You, which you provided to Us and have the right to transmit data to another controller. Please be advised that this right only applies to information which You provided for Us.

g) Right to object: The right to object at any time to processing of personal data concerning You which is processed for the purposes of our legitimate interests. We shall no longer process the personal data unless the We demonstrate compelling legitimate grounds for the processing which override the interests, rights and freedoms of You or for the establishment, exercise or defense of legal claims. Where personal data is processed for marketing purposes, You shall have the right to object at any time to processing of personal data concerning You for such marketing.

h) Right to Object to Automated Processing: This right to object to a decision based on automated processing. Using this right, a customer may ask for his or her request (for instance, a loan request) to be reviewed manually, because he or she believes that automated processing of his or her loan may not consider the unique situation of the customer.

i) Right to withdraw consent: The right to withdraw Your consent at any time where we are relying on consent to process Your personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. In some cases, if you withdraw Your consent, We may not be able to provide the Services to You.

j) Right to complain: You have right to make a complaint in regard to the privacy or data processing issues at any time. You can complain in the EU member state where you live or work, or in the place where the alleged breach of data protection law has taken place. In Switzerland, The Federal Data Protection and Information Commissioner (FDPIC) is the competent authority for data protection issues. We would, however, appreciate the chance to deal with Your concerns before You approach the supervisory authority so please contact Us in the first instance. You can contact our DPO via email at [email protected].

V. Security of your data

1. We take protecting of your personal data very seriously and strive to apply all necessary organizational and technological security measures.

2. We use a variety of security measures to ensure the confidentiality of your Personal Data, and to protect your Personal Data from loss, theft, unauthorised access, misuse, alteration or destruction. These security measures include, but are not limited to:

• Password protected directories and databases;
• Secure Sockets Layered (SSL) technology to ensure that your information is fully encrypted and sent across the Internet securely;
• PCI Scanning to actively protect our servers from hackers and other vulnerabilities.

3. All financially sensitive and/or credit information is transmitted via SSL technology and encrypted in our database. Only authorised SwissMoney personnel are permitted access to your Personal Data, and these personnel are required to treat the information as highly confidential. The security measures will be reviewed regularly in light of new and relevant legal and technical developments.

4. We do not ask for financial or payment information, such as your credit card number, passcode, account number or pin number, in an e-mail, text or any other communication that we send to you. Please always check that any website on which you are asked for financial or payment information in relation to our reservations or services is operated by SwissMoney. If you do receive a suspicious request, do not provide your information and report it by contacting one our member service representatives as set in this Privacy Policy.

5. You are responsible for keeping your account passcode, membership numbers and pin numbers safe and secure. Do not share those with anyone. If there is an unauthorised use or any other breach of security involving your information, you must notify us below as soon as possible.

6. Please note, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal information, we cannot guarantee the security of your information transmitted to our site, unless you are communicating with us through a secure channel that we have provided. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorized access. By browsing the Website and/or using the services of the Company you expressly acknowledge and agree that any personal information or other data provided by you to us or third persons is provided at your own risk.

VI. Final provisions

1. This notice is global in scope but is not intended to override any legal rights or prohibitions in any territory where such rights or prohibitions prevail. In such event, the rights and obligations set out in this notice will apply, subject only to amendment under any applicable local law having precedence.

2. We have the right to adjust the provisions of this Privacy Policy. In such case, we will notify you of any changes of the Privacy Policy in advance and will publish a new version of the Privacy Policy on our Website. The Privacy Policy was last amended on January 8, 2021.

Risk warning

Last updated 1 December 2020

Please read the following risk warnings carefully before using the swissmoney service and products available through the platform.

This document provides you with information about the risks associated with using trading in cryptocurrencies and with using the swissmoney service, which allows you to buy or sell interests in cryptocurrency via our partner cryptocurrency exchange(s) (each a “Cryptocurrency Exchange”), such as Bitnuk AG.

The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency – virtual or not – may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. If you are in any doubt about whether the Cryptocurrency Service is right for you, you may wish to seek guidance from a professional adviser.

You should carefully assess whether your financial situation and tolerance for risk is suitable for any form of exposure to cryptocurrencies. You should never invest in cryptocurrencies unless you can afford to lose 100% of your investment.

Trading in Cryptocurrencies is unregulated

Trading cryptocurrencies such as Bitcoin has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, cryptocurrencies are a unique kind of Internet digital currency, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of any cryptocurrency in a crisis or issue more currency.

Instead, cryptocurrencies are an as-yet autonomous and largely unregulated global system of currency firms and individuals. Traders put their trust in a digital, decentralized, and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity. As such, cryptocurrencies are not governed by any specific European or other regulatory framework. This means that, when you use the swissmoney service to purchase cryptocurrencies, you will not benefit from the protections available to customers receiving e-money/payment services provided by us. Moreover, swissmoney is not a bank and, as such, is not part of a depositor protection scheme. swissmoney is also not subject to direct FINMA supervision.

We use our banking providers in order to receive client moneys and making payments. Our banking providers DO NOT transfer cryptocurrencies, exchange cryptocurrencies, or provide any services in connection with cryptocurrencies.

The value of Cryptocurrencies is highly volatile

The trading of cryptocurrencies is often susceptible to irrational bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in cryptocurrencies because of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.

There may be additional risks that we have not foreseen or identified in our Terms of Use.

You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading cryptocurrencies. You should never trade in cryptocurrencies unless you can afford to lose 100% of your investment.

There may be additional risks that we have not foreseen or identified in our Terms of Use. You should carefully assess whether your financial situation and tolerance for risk are suitable for buying, selling, or trading cryptocurrencies.

Cryptocurrency exchanges are vulnerable to cyber attacks

• Cryptocurrency exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. Even though Cryptocurrency Exchanges take various steps to preserve the security of their platforms, cryptocurrency which is held in wallets provided by such exchanges remain vulnerable to hacking.
• If a thief gains access to one or more Supported Cryptocurrencies (i.e. by stealing the private encryption key to the Cryptocurrency Exchange wallets), he/she could transfer the stolen assets to another account. This is particularly problematic since all cryptocurrency transactions are permanent and irreversible.
• Accordingly, a hack is likely to lead to substantial depletion of the Supported Cryptocurrency held on your behalf (see below). Whilst the Cryptocurrency Exchange may be willing to compensate users for any such loss, they are not obliged to do so. A serious hack could also have the effect of putting a Cryptocurrency Exchange into insolvency.

The supported cryptocurrencies (and the fiat currency used to buy/sell them) are held in custody by a third party

• When you use the swissmoney Service to buy interests in one or more of the Supported Cryptocurrencies, they will be held on your behalf by a third party (usually the Exchange) who will act as custodian (the “Custodian”). Records will be held by the Cryptocurrency Exchange and us to show that the Supported Cryptocurrencies are held on your behalf and do not belong to any third party.
• The Supported Cryptocurrencies may be held on an “omnibus basis” with the Custodian, which means that your interests may be held at a single blockchain address together with those of other customers of that Custodian. If the Custodian becomes insolvent, there may be delays in identifying the assets belonging to you. There may also be an increased risk of loss if there should be a shortfall between the assets held in the Custodian’s omnibus account and the claims of all of its customers (in which case, you may have to share proportionately in that shortfall with other customers).
• Otherwise, in the event of insolvency of the Custodian, please note there is no specific legal protection that covers you for losses arising from any Supported Cryptocurrencies that were held with such Custodian. This could mean that you have no specific rights under insolvency law to recover cryptocurrency held by the Custodian and you may be treated as an ordinary creditor of the same.
• When you sell your interests in the Supported Cryptocurrencies, the proceeds from the sale will be held in a pooled segregated bank account of the Cryptocurrency Exchange. As with the Supported Cryptocurrencies, records will be held by the Cryptocurrency Exchange and us to show that funds are held on your behalf and do not belong to any third party. In the event of the Cryptocurrency Exchange’s insolvency, you may be able to claim for the return of your fiat currency from this pool.

The Cryptocurrency Exchange may terminate their service at any time

• To provide the SwissMoney Service to you, we partner with one or more Cryptocurrency Exchanges to (a) facilitate the buying and selling of interests in Supported Cryptocurrencies; and (b) in some cases, hold the Supported Cryptocurrencies as Custodian.
• Given the various risks attaching to cryptocurrency exchanges (including the uncertain legal environment), it is possible that a Cryptocurrency Exchange could suspend or terminate its relationship with us and may not tell us why. In these circumstances, we may have to suspend the SwissMoney Service ourselves but we will try to transfer the underlying Supported Cryptocurrency to another Cryptocurrency Exchange as soon as possible.

The legal status of cryptocurrency is uncertain and evolving

• Given that the market for cryptocurrencies is relatively new, the legal nature of cryptocurrency is, in most jurisdictions, yet to be determined by statute, regulation or case law. In the absence of such authority, it is not clear how a regulator or court may treat interests or rights arising cryptocurrency trading. In particular, the law applicable to firms who hold cryptocurrencies in custody (particularly in the event of such firms’ insolvency) is far from clear.
• It is possible that a national or supranational regulator may take unilateral action to legislate the cryptocurrency market in a manner which prevents or encumbers the proper operation of the market in your jurisdiction. This may impact whether we can offer the Cryptocurrency Service to you.

The functioning of the cryptocurrency network is outside our control

• Since the Blockchain is an independent public peer-to peer network and is not subject to regulation or control by any governmental or other authority or firm, we are not responsible for any failure, mistake, error and/or breach which shall occur on the Blockchain or on any other networks in which the Supported Cryptocurrencies are being issued and/or traded.
• We do not own or control the underlying software protocols which govern the operation of the Supported Cryptocurrencies. In general, the underlying protocols are open source and anyone can use, copy, modify, and distribute them.
• The underlying protocols of the Supported Cryptocurrencies are subject to sudden changes in operating rules (‘forks’), and such forks may materially affect the value, function, and/or even the name of the Supported Cryptocurrency.

Changes and additions to this Risk Warning

Please check back often to review this Risk Warning as we may amend it from time to time. If you have any questions regarding this Risk Statement, via the contact form on the Contact Us page of our website.

Supervision

SWISSMONEY is an authorized member firm of d’Organisme de Surveillance pour Intermédiaires Financiers & Trustees (“SOFIT”), a self-regulatory organization (“SRO”) recognized by the Swiss Financial Market Supervisory Authority (FINMA) and as required by the Swiss Federal Law on combating money laundering and terrorism financing in the financial sector (AMLA). As SWISSMONEY is not subject to direct FINMA supervision, regulatory issues should be addressed to SOFIT.

Impressum / Imprint

Full legal name of company

swissmoney AG

Website

www.swissmoney.com

Regulatory Supervision

swissmoney is an authorized member firm of d’Organisme de Surveillance pour Intermédiaires Financiers & Trustees (“SOFIT”), a self-regulatory organization (“SRO”) recognized by the Swiss Financial Market Supervisory Authority (FINMA) and as required by the Swiss Federal Law on combating money laundering and terrorism financing in the financial sector (AMLA). As swissmoney is not subject to direct FINMA supervision, regulatory issues should be addressed to SOFIT.

Anti-Money Laundering (AML)

swissmoney AG (“swissmoney“) is subject to provisions on Anti Money Laundering (AML) under the laws of Switzerland, which are in accordance with the FATF recommendations. Switzerland is a member country of the Financial Action Task Force FATF). This means in particular that swissmoney has to identify its customers and establish the beneficial owner’s identity. The AML compliance policies approved by the Management Board include inter alia the processes for the identification of the customers and establishing the identity of the beneficial owner. The policies also cover the collection of information regarding the customers’ business activities, relationships with Politically Exposed Persons and record retention procedures. Furthermore, swissmoney regularly provides AML training to relevant employees and does not provide banking services to any bank that does not maintain a physical presence in any country and that is not a regulated affiliate. The anti-money laundering policies are applicable to head office and branches alike and are in accordance with the Wolfsberg anti-money laundering principles. More on the AML CFT policy here (add link).

PCI Certification

PCI certificate number PCI04701889 (GlobalCertificate)

Compliance

Email: [email protected]
Phone: +41 61 508 72 27

When you contact Compliance Department by email, please preferably use the contact form on the Contact Us page of our website.

Registered office address

Steinenvorstadt 33, 4051 Basel, Switzerland

Company number (UID)

CHE-207.349.143

Date of formation

03 December 2020

Type of Corporation

Aktiengesellschaft (Swiss Public Limited Company)

Cookie Statement

The SWISSMONEY website uses cookies. By continuing to use this website, you are giving consent to cookies being used.

Last updated 1 December 2020

www.swissmoney.com is the website domain of SWISSMONEY AG. The data controller is SWISSMONEY AG, a payment Institution registered with the Swiss Companies Register under the company number CHE-105.854.576, with its registered address at Steinenvorstadt 33, 4051 Basel, Switzerland. In this Cookie Statement, ‘SWISSMONEY’, ‘we’, ‘us’ and ‘our’ means SWISSMONEY AG.

This Cookie Statement explains how SWISSMONEY uses cookies and similar technologies when you visit our websites located at www.swissmoney.com, or any other websites, pages, features, or content we own or operate (collectively, the “Site(s)”), when you use the SWISSMONEY mobile app, and/or interact with SWISSMONEY online advertisements or marketing emails (collectively the “Services”). It explains what these technologies are and why we use them, as well as your rights to control our use of them.

What are cookies?

Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.

Cookies are small files, typically of letters and numbers, downloaded onto your computer or mobile device when you visit certain websites. When you return to these websites, or visit other websites that use the same cookies, the websites recognize these cookies and your browsing device. A cookie cannot read data off your hard drive or read cookie files created by other websites.

Cookies set by the website operator are called “first party cookies”. Cookies set by parties other than the website operator are called “third party cookies”. The parties that set third party cookies can recognize your computer both when it visits the SWISSMONEY website and when it visits certain other websites and/or mobile apps.

We treat information collected by cookies and other technologies as non-personal information. However, to the extent that IP addresses or similar identifiers are considered personal information by local law, we also treat these identifiers as personal information. If we combine non-personal information with personal information, the combined information will be treated as personal information for as long as it remains combined.

More information on cookies and their use can be found at aboutcookies.org or allaboutcookies.org.

We use third party service providers, to assist us in better understanding the use of our website. Our service providers will place cookies on the hard drive of your computer and will receive information that we select that will educate us on such things as how visitors navigate around our website, what products are browsed, and general Transaction information. Our service providers analyse this information and provides us with aggregate reports. The information and analysis provided by our service providers will be used to assist us in better understanding our visitors’ interests in our website and how to better serve those interests. The information collected by our service providers may be linked to and combined with information that we collect about you while you are using the Platform. Our service providers are contractually restricted from using information they receive from our website other than to assist us.

How does swissmoney use cookies?

When you access our Services, we or companies we work with may place cookies on your computer or other device. These technologies help us better understand user behavior, and inform us about which parts of our websites people have visited.

We use first party and third-party cookies to recognize you as a SWISSMONEY customer, customize our Services, content, and advertising, to measure promotional effectiveness, and to collect information about your computer or other access device to mitigate risk, help prevent fraud, and promote trust and safety.

We may place cookies from third-party service providers who may use information about your visits to other websites to target advertisements for products and services available from SWISSMONEY. We do not control the types of information collected and stored by these third-party cookies. You should check the third-party’s website for more information on how they use cookies.

The following are some examples of non-personal information that we collect and how we may use it:

• We may collect and store details of how you use our Services. Except in limited instances to ensure quality of our Services over the Internet, such information will not be associated with your IP address.

• We may collect information such as your language, zip code, area code, unique device identifier, referrer URL, location, and the time zone so that we can better understand customer behavior and improve our Services.

• We may collect information regarding customer activities on our website, which is used to understand which parts of our websites and Services are of most interest. This data is aggregated, and thus is considered non-personal information for the purposes of this Cookie Statement.

What types of cookies does swissmoney use?

Strictly Necessary Cookies

These cookies are essential because they enable you to move around our Services and use certain features on our Services. For example, strictly necessary cookies allow you to access secure areas. Without these cookies, some Services cannot be provided.

Performance/Analytics Cookies

These cookies collect information about how you use a website. For example, a performance/analytics cookie will collect information about which pages you go to most often, how much time you spend on that page, or if you get error messages from certain pages. These cookies do not gather information that identifies you. The information these cookies collect is anonymous and is only used to improve how our Services work.

Functionality Cookies

These cookies allow us to remember the choices you make and to tailor our Services so we can provide relevant content to you. For example, a functionality cookie can remember your preferences (e.g., country or language selection), or your username.

Session Cookies

We use session cookies when you access our website or content. Session cookies expire and no longer have any effect when you log out of your account or close your browser.

How long will cookies stay on my browsing device?

The length of time a cookie will stay on your browsing device depends on whether it is a “persistent” or “session” cookie. Session cookies will only stay on your device until you stop browsing. Persistent cookies stay on your browsing device until they expire or are deleted (i.e. after you have finished browsing).

What other similar technologies does SWISSMONEY use?

In addition to cookies, we may use other similar technologies, like web beacons to track users of our Services. Web beacons, or “clear gifs,” are tiny graphics with a unique identifier, similar in function to cookies. They are used to track the online movements of web users.

In contrast to cookies, which are stored on a user’s computer hard drive or device, clear gifs are embedded invisibly on web pages and are about the size of the period at the end of this sentence. We and our third-party service provider employ web beacons for the reasons stated above (under “Cookies”), but primarily to help us better manage content on our Services by informing us which content is effective.

We may also use so-called “Flash Cookies” (also known as “Local Shared Objects or “LSOs”) to collect and store information about your use of our services, fraud prevention and for other site operations.

Does swissmoney use advertising cookies?

SWISSMONEY may use third party service providers to display advertising on our Services and serve advertising on other third-party sites that are more relevant to you or your interests. They are also used to limit the number of times you see an advertisement, as well as help measure the effectiveness of the advertising campaign. They remember that you have visited a website and this information may be shared with other organizations, such as advertisers. This means that after you have been to our websites, you may see some advertisements about our Services elsewhere on the Internet. The information collected through this process by the third-party service providers does not enable us or them to identify your name, contact details or other personal information that directly identifies you unless you choose to provide these. Such advertising will only be delivered where permitted by applicable law.

How to manage cookies, similar technologies and targeted online mobile advertising and what effect will this have?

You have the right to decide whether to accept cookies. You can stop cookies from being deployed on your computer by configuring your browser not to accept them or opt-out. Please refer to your browser’s ‘help’ facility or visit the following website: allaboutcookies.org. For more specific details, you can exercise your preferences in relation to cookies served on our website by taking the steps outlined below.

Our Cookies (or, “First-Party Cookies”): You can use the browser with which you are viewing this website to enable, disable or delete cookies. To do this, follow the instructions provided by your browser (usually located within the “Help”, “Tools” or “Edit” settings). Please note, if you set your browser to disable cookies, you may not be able to access secure areas of our website. Also, if you disable cookies other parts of the Services may not work properly. You can find more information about how to change your browser cookie settings at allaboutcookies.org.

Mobile Advertising: You can opt out of having your mobile advertising identifiers used for certain types of advertising by accessing the settings in mobile device and following the instructions. If you opt-out, we will remove all data about you and will not collect any further data. The random ID previously assigned to you will be removed. Thus, if at a later stage, you decide to opt-in, we will be unable to continue and track you using the prior ID and you will for all practical purposes be a new user.

Third-Party Cookies: To opt-out of third-party advertising networks and similar entities that use targeting/advertising cookies, go to aboutads.info/choices. Once you click the link, you may choose to opt-out of such advertising from all participating advertising companies or only advertising provided by specific advertising entities. For more information about third-party advertising networks and similar entities that use these technologies, please see aboutads.info/consumers.

Do Not Track: Some Internet browsers – like Internet Explorer, Firefox, and Safari – include the ability to transmit “Do Not Track” or “DNT” signals. Since uniform standards for “DNT” signals have not been adopted, our websites may not currently process or respond to “DNT” signals.

Flash Cookies: If you do not want Flash Cookies stored on your computer, you can adjust the settings of your Flash player to block Flash Cookies storage using the tools contained in the website storage settings panel. You can also control Flash Cookies by going to the global storage settings panel and following the instructions. Setting the Flash Player to restrict or limit acceptance of Flash Cookies may reduce or impede the functionality of some Flash applications, including, potentially, Flash applications used in connection with our services or online content.

Updates to this Cookie Statement

We reserve the right to amend or modify this Cookie Statement at any time in response to changes in applicable data protection and privacy legislation. If we do, you will be notified when you first visit our website after the change.

Your continued use of the SWISSMONEY website, as well as any subsequent usage, will be interpreted as your consent to cookies being stored on your device.

If you have any questions about our use of cookies or other technologies, please email us using the contact form on the Contact Us page of our website.

AML CTF Policy

Anti-Money Laundering and Counter-Terrorist Financing Policy

1. Introduction

The swissmoney AML Policy is designed to prevent money laundering by meeting the Swiss and European standards on combating money laundering and terrorism financing, including the need to have adequate systems and controls in place to mitigate the risk of the firm being used to facilitate financial crime.

It is prohibited to provide any product or service or process any transaction for the benefit of individual or entity included in the international sanctions lists. As such, the adherence with applicable laws and regulations in relation to prevention of money laundering and terrorist financing, in particular the Swiss Anti-Money Laundering Act, (hereinafter referred to as “AML”) is mandatory and fundamental to swissmoney’s strategy and program.

swissmoney has strict and transparent standards and continuously strengthens its processes so as to ensure compliance with applicable AML laws and regulations.

swissmoney reserves the right to reject any customer, payment or business that is not consistent with the swissmoney AML policy, irrespective of the requirements of the applicable AML laws and regulations.

2. Main objectives

• Combating and preventing money laundering and terrorist financing and taking all the necessary preventive measures;
• Preventing the misuse of the Company by anyone or anybody in illegitimate operations;
• Appointing a Money Laundering Reporting Officer (MLRO) who has a sufficient level of seniority and independence, and who has responsibility for oversight of compliance with the relevant legislation, regulations, rules and industry guidance;
• Establishing and maintaining a Risk-Based Approach (RBA) to the assessment and management of money laundering and terrorist financing risks faced by the firm;
• Establishing and maintaining risk-based Customer Due Diligence (CDD), identification, verification and Know Your Customer (KYC) procedures, including enhanced due diligence for customers presenting a higher risk, such as Politically Exposed Persons (PEPs);
• Establishing and maintaining risk-based systems and procedures for the monitoring of on-going customer activity;
• Establishing procedures for reporting suspicious activity internally and to the relevant law enforcement authorities, such as the Money Laundering Reporting Office Switzerland (MROS), as appropriate;
• Maintaining appropriate records for the minimum prescribed periods;
• Training all employees on the rules and internal procedures which have to be observed, the risks that they and the Company face and how they can encounter the risks of money laundering and terrorist financing through their operations from their positions.

3. Company commitment

swissmoney is committed to:

• Accept only those Customers whose identity can be established and verified and whose source of funds can be reasonably established to be legitimate;
• Not establish a business relationship, open accounts or maintain accounts for anonymous persons or those with fictitious names including anonymous accounts;
• Make every possible effort to know the identity of the customer and the real beneficiary (Beneficiary Owner) of the account (i.e. the full name, the place and date of birth and verifying the identity by using valid, official and accredited documents “identification data” issued by the official bodies), in addition to the data and information available from trusted independent sources;
• Apply a risk-based approach, and enhanced customer due diligence where required;
• Monitor and identify suspicious transactions and activities and ensure that reportable ones get reported;
• Provide regular and appropriate AML / CTF training and information to all employees to increase their awareness using various methods;
• Maintain records, which are appropriate to the nature and complexity of the customer’s business.

4. Customer Due Diligence

In terms of its obligations at law, swissmoney is obliged to determine the applicant for business, the Customer or any beneficial owner, and to verify that such person is the person he purports to be, as well as to determine whether such person is acting on behalf of someone else, and to establish the purpose and intended nature of the business relationship and to monitor this relationship on an ongoing basis. In order to successfully adhere to its obligations, swissmoney has developed Customer due diligence (“Due Diligence”) measures which must be implemented by swissmoney and adhered to by its management and employees.

The Due Diligence measures assist swissmoney in determining whether a particular Customer falls within their risk appetite, as well as helps the Company clearly understand the business activities of the Customer in such a way that any transactions which fall outside the business profile of the company may be investigated to determine whether any money laundering or funding of terrorism may be involved. This enables the Company to inform relevant authorities in a timely manner with adequate information on its Customer and their activities when such a request is made.

In summary, swissmoney has adopted its Due Diligence policies in order to successfully carry out the following:

• identification and verification of the applicant for business
• identification and verification of the beneficial owner, where applicable
• identification and verification when the applicant for business does not act as principal
• obtaining information on the purpose and intended nature of the business relationship
• conducting ongoing monitoring of the business relationship
• establishing the source of wealth and source of funds
• setting up of a Customer acceptance policy and ensuring that the applicant for business meets the requirements set out in such policy
  swissmoney is strictly prohibited from keeping anonymous accounts or accounts in fictitious names.

4.1. Prohibitions

Swissmoney has no AML risk appetite for customers who engage in any of the following activities:

• intentional or willfully negligent breaches of law, regulation or policy applicable to money laundering and terrorist financing risk;
• repeated unintentional or repeated accidental breaches of AML laws;
• misusing the account for the purpose of money laundering or terrorism financing;
• misusing the account for the purpose of other fraud;
• facilitating business activities which could be construed as a tax offence;
• refusing to provide sufficient information or documentation to demonstrate compliance with the standards outlined in swissmoney AML policy.

The Company has no risk appetite for customers or transaction to or from jurisdictions which are identified as high-risk third countries on the lists of jurisdictions having serious deficiencies in their anti-money laundering regimes drawn up by the European Commission and the FATF and as amended from time to time, including but not limited, onboarding clients from or executing transaction to or from: Algeria, Argentina, Bangladesh, Bolivia, Brazil, Cabo Verde, Cameroon, Chile, China, Colombia, Comoros, Crimea, Cuba, Ecuador, Egypt, Guyana, Iran, Iraq, Lesotho, Macedonia, Malawi, Morocco, Nepal, North Korea, North Sudan, Paraguay, Peru, Sao Tome and Principe, Senegal, Seychelles, South Sudan, Suriname, Syria, Tanzania, Uruguay, USA, Venezuela, Zambia.

swissmoney intends to conduct business only with reputable customers who use their own products, services, and related accounts for legitimate purposes, and whose identities can be determined and verified. In keeping with that principle, the Company will not knowingly conduct business with customers that seek to process payments through the Company involving:

• Collecting donations as a charity or non-profit organization, NGO’s (unregulated and incorporated outside EU/Switzerland);
• Dating (newly incorporated, not known);
• Drug paraphernalia – product or accessory that is intended or modified for making, using, or concealing drugs, typically for recreational purposes;
• Drugs / Illicit substances, steroids and certain controlled substances or other products that present a risk to consumer safety;
• Extractive Industries;
• High Risk File hosting / sharing and cyberlockers;
• Infringe any duly registered copyrights/trademarks or other violation of intellectual property rights;
• Unregulated pharmaceuticals, illegal drugs and or unlicensed drug related activity;
• Involve offering or receiving payments for the purpose of bribery or corruption or any form of high yield financial investments (get rich quick schemes);
• Items that encourage, promote, facilitate or instruct others to engage in illegal activity;
• Oil & Gas Industries;
• PC Support sold via outbound telemarketing;
• Pyramid or Ponzi schemes;
• Relate to the sale of dangerous or hazardous goods;
• Replicas;
• Sale of government ID’s or documents;
• Scottish LP, LLP;
• Services associated with prostitution, escort;
• Stolen goods including digital and virtual goods (fictitious social media likes, spam emails);
• Unlicensed lottery and gambling;
• Unregulated crypto companies (except EU/Switzerland);
• Unregulated Forex;
• Violate any law, statute, ordinance or regulation;
• Weapons, firearms and ammunitions;

Please note that the company may suspend or terminate business relationship with the customer subject to the requirements of applicable AML laws and regulations.

4.2. Sanctions

swissmoney has no AML Risk Appetite for establishing or maintaining a customer or a counterparty relationship with a natural person or legal entity designated on any of the below lists or where otherwise prohibited by applicable law or regulation:

• the Swiss Federal Council Sanctions List;
• the United Nations Security Council Sanctions List (UN);
• the Consolidated List of European Union Financial Sanctions (EU);
• sanction lists administered by the United States Office of Foreign Assets Control (OFAC),
• including the List of Specially Designated Nationals and Blocked Persons;
• any other sanctions list.

In addition, swissmoney pays particular attention to entities from countries which are on the list of noncooperative countries and territories drawn up by the Financial Action Task Force (FATF) and to monetary operations or transactions performed by or on behalf of them.

5. Monitoring for Suspicious Activity

swissmoney AML policy includes customer’s and beneficial owner’s due diligence and ongoing AML monitoring and AML reporting policies. At various points in time, swissmoney may request information regarding the transactions carried out through the customer’s account opened at swissmoney and the parties of the respective payment. If the customer may not respond sufficiently or within a timely manner, swissmoney also reserves the right to reject any respective payments subject to the requirements of the applicable AML laws and regulations.

 

6. Employee’s obligations

• The Company’s employees shall be personally liable for failure to report information or suspicion, regarding money laundering or terrorist financing.
• The employees must cooperate and report, without delay, anything that comes to their attention in relation to transactions for which there is a slight suspicion that are related to money laundering or terrorist financing.
• According to the Law, the Company’s employees shall fulfil their legal obligation to report their suspicions regarding Money Laundering and Terrorist Financing.