Last updated: October 25, 2016
This “Terms of Service” (this “Agreement”) is effective as of October 25, 2016, under which you may avail the services provided by this website.
This Agreement is a legal binding agreement between you and MONEYTUN LLC (“MONEYTUN”), and shall apply to your use of the service provided through the website (the “Service/s”).
- "you" or "your" means any person ("Users") using the Service;
- "we" or "us" or "our" means
- MONEYTUN is a licensed money transfer company approved by the State of California and Nevada in the United States of America.
- “partner” or “partners” means any third party service providers engaged by MONEYTUN for facilitating the provision of the service/s
- Any term otherwise not defined in this Agreement shall have a meaning generally applied to such terms in the particular context wherein they are used.
- The service is powered and hosted by MONEYTUN. During the registration in the website, you are registering with MONEYTUN.
- Your funds are controlled at all times by MONEYTUN. The funds for your money transfer will be deducted and processed by MONEYTUN.
- The website is being operated by the AFFILIATE who is a marketing agent of this service. AFFILIATE does NOT at any point of time hold your funds in its account or wallet.
- Providing the money transfer service to you
- Opening and maintaining an account/wallet with MONEYTUN or its partners
- Using your personal data that we obtain from you
- Accessing any data that you have not given us or as to which you have withdrawn your consent to our use
- Initiating any activity as to which you have not given express consent or as to which you have withdrawn consent, and
You may withdraw that consent by notifying our Customer Service using the contact details listed below and our acceptance of such request. You also consent to our sharing information about you with our partners for purposes of registering you as a user and managing your User Account, and you are responsible for providing accurate and complete information for these purposes.
We may permit you to reverse a payment if you contact us and so request or if your bank or credit union so requests that of MONEYTUN or if MONEYTUN reverses a payment based on its own dispute resolution or risk policies.
In order to access and use the website and avail of any Service you must be an individual of at least 18 years of age who can enter into legally binding contracts under applicable law. If you do not qualify, please do not access or use the website or the Service.
- You agree to pay us a transaction fee plus the Transaction Amount for every transaction that you place in the website. Additional charges may apply. Payment is due at the time your Transaction is submitted for processing. You agree to reimburse us all fees if you submit a Transaction that results in being charged for non-sufficient fund fees, chargeback fees, or other similar fees.
- By making any transaction in the website, you authorize MONEYTUN and its partners to debit the amount (including transaction fees and any other applicable fees) from Your Bank Account in an ACH Pull Transaction or the Deposit Payment in an ACH Push or wire transfer.
- In order for us to collect payment from you, you authorize MONEYTUN and its partners to access, charge, or debit funds from any of the mode of payment you provide us in connection with your use of the Service. If your payment fails or is insufficient, we may re-try debiting your Mode of payment one or more times without your authorization or you may authorize us to try debiting a different Mode of payment. For example, if there are insufficient funds in your bank account at the time you submit your Transaction, we may try to debit your bank account at a later time. You represent and warrant that you are the lawful owner of your Mode of payment(s).
- You are solely responsible for any fees or charges that may be imposed by the financial institutions associated with your Mode of payment.
- In case if you fail to make payment and your transaction is already delivered to your Beneficiary, we have the right to take all possible actions to recover the payment, to the extent permitted by law. Your failure to fully pay amounts that you owe us is a material breach of this Agreement and you will be liable for our costs associated with recovery and collection in addition to the amount owed, including without limitation attorneys’ fees and expenses, costs of any arbitration or court proceeding, collection agency fees, and any applicable interest.
PAYOUT AND DELIVERY
- All Payouts of your remittance funds to the beneficiary will be made by MONEYTUN through its partners or it’s Correspondent Agents in S.Korea. You authorize us and are solely responsible for any consequence that may come forth upon credit of the payment by us into the account of the Beneficiary as determined at the time of entering the transaction.
- Your Beneficiary will be required to provide us with the copy of their Identity (Government Issued ID Card) before receiving funds in their bank account. You give us permission to contact your Beneficiary and store all such data, as necessary to provide the Service.
- You represent that the Beneficiary determined by you accepts the agency appointed by you as per the terms of this User Agreement to receive the funds transferred using the service.
- Please verify and make sure that the bank account information of the Beneficiary are correct prior to submitting your Transaction because we are not responsible for detecting inaccuracies. If bank account information and bank details of the Beneficiary are incorrect, the funds may be credited to the wrong bank and may not be recovered. We or our partners shall not be liable for such wrong delivery of funds.
- We shall not be under any duty to assess the prudence or otherwise of any instruction or transaction given or entered into by you.
- We reserve the right to hold and/or reject any transaction requested by you through the website for any reason deemed reasonable to us without any obligation to disclose such reason to you.
- We shall be entitled, in our sole and absolute discretion, to refuse to comply with all or any of your instructions without assigning any reason.
- We shall have the right to, and you hereby authorize us to, verify any information provided by you. As a standard KYC check we may be required to verify your identity details.
- We represent, and you agree that, we may make money while converting your U.S. dollars into KRW, in addition to the transaction fee.
- You are not entitled to any interest or any other income that may arise on your monies which are held by MONEYTUN.
- You agree that you will not share your login information, password, or PIN with anyone else. You understand and agree to take all necessary steps to protect your User Account information. We will never ask for your password or PIN number. You are solely responsible for all acts and omissions made using your login information, password or PIN. You agree that we carry no liability for losses or problems that may arise due to your sharing this private information with other people, businesses, or entities.
- In case of errors or questions about your transactions, you may contact MONEYTUN using the contact details listed below.
- If you still have an unresolved complaint regarding the company's money transmission activity, please direct your complaint to the state specific Licensing Division.
- In case of errors or questions about the website and service information, call the AFFILIATE.
The service may be temporarily unavailable from time to time during the system maintenance and updates. We shall make best effort to notify you in advance by publishing a notice on the website or by information you via e-mail. You agree to relieve us from any liability or losses that may be associated with such maintenance or updates.
SERVICES ARE PROVIDED "AS IS" AND “AS AVAILABLE”, WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. USE OF THE SERVICES IS AT YOUR OWN RISK. WE AND OUR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES AND SUPPLIERS, SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. WE DO NOT REPRESENT OR WARRANT THAT THE SERVICES WILL MEET YOUR REQUIREMENTS, BE CONTINUOUS, UNINTERRUPTED, SECURE, TIMELY, OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM US WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. WE SHALL NOT BE RESPONSIBLE FOR ANY SERVICE INTERRUPTIONS OR SYSTEM FAILURES THAT MAY AFFECT THE PROCESSING, COMPLETION OR SETTLEMENT OF TRANSACTIONS. THIS DISCLAIMER OF WARRANTY SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION. FUNDS ASSOCIATED WITH USER ACCOUNTS USING THIS SERVICE ARE HELD WITH MONEYTUN.
You understand and agree we will not be held responsible for losses or damages resulting from suspension of service due to extraordinary events or circumstances beyond our control. In the event of a force majeure event, we may suspend access to the service.
ASSIGNMENT, AMENDMENTS AND WAIVERS
- You may not transfer or assign any rights or obligations you have under this Agreement. We reserve the right to transfer or assign any rights or obligations under this Agreement at any time without your consent.
- We may amend this Agreement at any time by posting a revised version on the website. All amendments will be effective immediately after they are posted on the website.
- No provision of this Agreement shall be deemed waived by us, unless such waiver is in writing and signed by us. Our failure to enforce at any time any of the provisions of the Agreement, or the failure to require at any time performance by us of any of the provisions of the Agreement, shall in no way be construed to be a present or future waiver of such provisions, nor in any way affect the ability of a party to enforce each and every such provision thereafter.
- You shall indemnify, defend, and hold MONEYTUN, its partners and the AFFILIATE harmless from and against any and all claims, damages, liabilities, costs and expenses (referred to collectively herein as “Indemnity Claim(s)”), including reasonable attorneys’ fees, arising out of your failure to perform, or cause to be performed, your obligations under this Agreement.
- Indemnification privileges shall survive the termination of this agreement.
LIMITATION OF LIABILITY
Neither party will be liable for:
- any loss or damage due to causes beyond its control, including but not limited to earthquake, war, fire, flood, terrorism, power failure, acts of God or other catastrophes.
- any special, consequential, indirect or similar damages under or in connection with this Agreement including but not limited to loss of profits even if a party has been advised of the possibility of such damages.
- AFFILIATE shall not be liable at any point of time for your funds since all the funds are held and controlled exclusively by MONEYTUN.
- Our liability towards you, at any point of time, shall not exceed the amount of transaction initiated by you using the service.
- AFFILIATE shall not be party to any dispute arising as a consequence of the provision and availing of this service as per the terms of this User Agreement.
- The applicable law and jurisdiction for arbitration shall be as stated in the Terms and Conditions of MONEYTUN.
REFUND OF REMITTANCE PAYMENT
- All refunds of your monies shall be made by MONEYTUN as per its Terms and Conditions.
- You may cancel your Transaction for a full refund within 30 minutes of creating your Transaction, unless the funds have already been paid out to the Beneficiary. After 30 minutes, we generally do not provide refunds unless we did not process your Transaction according to your instructions or we are unable to pay out the Transaction. To request a refund, please click here to contact Customer Service.
- We will make every effort not to debit your Mode of payment after we have received your request for cancellation. However, in some cases, we may have initiated an irreversible request for funds from your financial institution prior to receiving your request for cancellation. In such cases, your Mode of payment may be debited even if you have cancelled your Transaction but we will refund your money usually within fourteen (14) business days, after we have received the funds from your financial institution. This shall apply only if your transaction has not been delivered to your Beneficiary.
- Refunds will be credited to the same Mode of payment used to pay for the Transaction. Refunds are only made in U.S. Dollars. Refund amounts will not be adjusted to account for changes in the value of the U.S. Dollar or foreign currency from the time your Transaction was submitted.
- The amount of funds that is returned to you shall be the amount after deducting any service charges and other expenses incurred while refunding the funds.
- If we determine to refund remittance payment funds to you, these funds may be returned to you at the exchange rates established by us on the date of return. We shall not be liable to you for any loss occurred due to cancellation or refund of a remittance payment.
TERMINATION AND SURVIVAL
- This agreement shall be effective from the date you agree to it (by electronically indicating acceptance) and shall be applicable so long you use the service.
- Discontinuance of use of this service shall not deem termination of this agreement. You may terminate this agreement by contacting us using the contact details listed below. We reserve the right to terminate the agreement without giving any prior notice to you.
- We may terminate your Account, for any reason, including
- your violation of this Agreement,
- your violation of the terms of services of any of the partners,
- User Account inactivity or
- our assessment that you pose an unacceptable risk to our network, based on our confidential risk and security criteria.
- Termination of your account or termination of this agreement does not relieve you of your liability for any losses incurred by us owing to your conduct during the operation of your user account.
- We may give notice to you by e-mail, letter, telephone or any other means as deemed fit to the e-mail address/address/telephone number registered in our system. Notices under the User Agreement may be given by you in writing by delivering them by hand or by sending them by post to the address mentioned on the website. We may, but shall not be bound to, act upon notices and instructions given by you via e-mail, letter, telephone or any other means as we may deem fit.
- In addition, we may (but shall not be bound to) also publish notices of general nature, which are applicable to all Visitors, Users or Customers in a newspaper or on its website. Such notices will have the same effect as a notice served individually to each Visitor, User or Customer (including you).
- Documents which may be sent by electronic communication between you and us may be in the form of an electronic mail, an electronic mail attachment, or in the form of an available download from the Website. We shall be deemed to have duly communicated and delivered any communication or document to you if such communication or document is sent via electronic mail (e-mail) to the registered e-mail address. We shall also be entitled to act on the basis of any instructions received or purported to be received by us from you by e-mail or other electronic means or via the internet. We shall also be entitled (but not bound) to act upon fax instructions and communications.