Last updated 30 August 2023
INFORMATION ABOUT US
swissmoney is a brand of Swiss Wealth Management AG and 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.
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 operated by Swiss Wealth Management AG which connects its Clients to authorized third-party service providers (partners of swissmoney). When you register on swissmoney, you agree that your identity verification information and documents might be shared with third-party service providers . While using swissmoney platform, your identity verification information and personal data might be securely shared with the other relevant third-party service providers for the purpose of providing the service as indicated in these Terms. All customer funds are securely held by regulated financial institutions.
Equivalent value of your assets in swissmoney account may be held in various asset forms with different liquidity characteristics.
IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS OUTLINED IN THIS AGREEMENT, DO NOT ACCESS THIS SITE AND DO NOT USE OUR SERVICE.
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.
Company: Means Swiss Wealth Management AG and its brand swissmoney, a company registered with the Swiss Companies Register under the company number CHE-105.854.576 and authorized member of SOFIT with member number 1269, having its registered address at Metalstrasse 8, CH-6300 Zug, 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 personal 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 regulated 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 IBAN 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
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 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
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 firstname.lastname@example.org. 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 wire transfer.
swissmoney will not accept third party or anonymous transactions. The credit card or 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 wire 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
a. The withdrawal instructions include all necessary information;
b. The instruction is to make a wire 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
Every verified and eligible Swiss Wealth Management AG Client is able to use cryptocurrency wallet and cryptocurrency exchange services provided by third-party service provider. Cryptocurrency withdrawals requires 2FA (two-factor authentication).
When Client exchanges cryptocurrencies in EUR, the service is provided by Swiss Wealth Management AG. When you exchange cryptocurrencies in USD or make a FIAT currency exchange (i.e. EUR/USD/CHF conversion), Client is automatically referred and this service is provided by third-party service provider (see Services provided by swissmoney third-party service providers).
swissmoney platform allows verified Clients to:
- Buy and Sell (exchange) cryptocurrency.
- Transfer cryptocurrency and FIAT currency to another person.
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.
We use our third party providers in order to receive client funds and make payments.
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 ACCOUNT 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:
SERVICES PROVIDED BY SWISSMONEY THIRD-PARTY SERVICE PROVIDERS
While using services or swissmoney platform you will be referred to the following third-party service providers and agree to their legal documentation:
- IBAN account opening (provided by Foxpay, UAB);
- Ordering credit/debit card(s) (provided by UAB “CREDITCO” and Foxpay, UAB);
- Opening and operation of transitional cryptocurrency wallets (provided by Bitnuk AG) which do not hold received cryptocurrency funds. Cryptocurrency funds are automatically forwarded to third-party service providers (i.e. cryptocurrency liquidity providers);
- Provision of transitional (client fund) SEPA account for receival and forwarding of user funds (provided by Swiss Wealth Management AG);
- Cryptocurrency exchange in USD (provided by Bitnuk AG);
- Currency exchange (EUR/USD/CHF) (provided by Bitnuk AG).
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.
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.
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.
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.
TRACKING OPTION FOR USERS OPERATING IOS 14.5, IPADOS 14.5, TVOS 14.5 AND LATER
We use the AppTrackingTransparency framework for users operating iOS 14.5, iPadOS 14.5 and later, to obtain your permission to track you for the purpose of providing you with an improved functioning of the system as well as better and personalized ad experience in the future. If you allow, the gathered data will be used entirely to improve the system and to determine the most suitable ads to show on the application when we decide to include such functionality.
The AppTrackingTransparency framework will present an app-tracking authorization request to the user containing the abovementioned purpose of tracking the user.
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;
LIMITATION OF LIABILITY
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 entities 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 entities.
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.
MODIFICATION OF TERMS
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.
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@example.com 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.
JURISDICTION, GOVERNING LAW