Terms and Conditions

4. Security Details

For security purposes, we need to establish and be satisfied with your identity. As such, when accessing our Online Services, we are not obliged to act on your instructions or requests if we are in doubt with your identity.

We must set up your Security Details prior to granting you with Online Services access. Your Security Details may include:

1. a login username;
2. a login password;
3. any items of memorable information which we ask you to confirm (e.g. place of birth, mother’s maiden name); and
4. any other security requirements we may notify you from time to time.

You agree to:

1. keep your Security Details secure and confidential at all times;
2. inform us immediately should you suspect or discover that:
   i. your Security Details are lost or stolen;
   ii. someone else knows your Security Details; or
   iii. someone has used or tried to use your Security Details.
3. pursuant to paragraph 9, not hold us liable if we acted on instructions because we have not received any notification from you about your Security Details having been compromised or potentially compromised.

 

5. Accuracy of Information and Remittance Instruction

At all times when utilising the Service, you agree to:

1. provide complete and accurate information, records and documentation about yourself;
2. promptly update your data whenever necessary to ensure its ongoing accuracy;
3. provide complete and accurate information about the recipient to ensure successful delivery of your remittance. We shall not be held accountable for failure of delivery due to erroneous, incomplete or fictitious recipient information;
4. respond and/or provide written instructions for requested amendments to us, via your registered email address only. Any instructions not received from your registered email address will not be acknowledged.

Please note:

1. we may issue you with a customer ID number. Your customer ID number is strictly for your use only;
2. sharing of mobile numbers is strictly prohibited;
3. if you provide information that is not true or accurate, we reserve the right to suspend or terminate your account and cease any further business activity with you;
4. if you wish to alter your original request/information, we may be entitled to charge you an additional transaction fee plus any bank charges or loss incurred due to the error or alteration; and
5. if any information provided by you, via the remittance form and/or via your registered email (address) is incomplete or inaccurate in any manner, you agree to take full responsibility and accept that we are not responsible for any delays, issues, or errors experienced in the delivery of the Service.

6. Payment Requirements, Fees & Currency Exchange

In consideration for the use of the Service, you agree:

1. to pay the advertised and/or applicable fees for each money remittance initiated by you. The applicable remittance fee, as well as any other applicable fees for additional services, will be advised to you prior to your final authorisation of the transaction.
2. that Remit may share applicable fees with any other party without being required to disclose the sharing of such fees to you, unless such disclosure is required by law.

All remittances to your beneficiary will be made in the Philippine Peso currency, therefore a currency exchange rate must be applied. The Australian Dollar (AUD) remittance will be converted to Philippine Pesos (PHP) at an exchange rate set by Compass every day, prior to receipt of your remittance request. Remittance applications received after the published daily cut-off, shall be processed on the next business day and will be subject to our usual processing times. The term “business day” shall mean any day in which the banks are open for business in New South Wales, Australia.

You must pay for the Service by internet transfer. If payment is not received and/or funds remain uncleared, we reserve the right to cancel your transaction.

The remittance transaction will be considered received in full and ready for processing when we receive the funds (full amount of remittance and associated fees) in our designated bank account with the correct payment instructions and with all required documentation.

 

7. Requests for Amendments & Cancellations

Requests for amendments and cancellation of the money remittance should be made by the Customer/Sender from their registered email address or mobile number to the contact address below:
[[email protected]]

Incomplete/Inaccurate information or non-compliance with required documentation

In the event of a cancellation request, as a result of incomplete/inaccurate information or non-compliance of required supporting documentation, only the principal amount is refundable. The transaction fee is non-refundable and a further cancellation fee may be charged.

In the event of a cancellation request, as a result of our error, the principal amount and the transaction fee will be refunded to you. In the event of an amendment request, as a result of our error, no further charges will be borne by the Remitter.

 

8. Conditions for Request for Refund

The customer is entitled to a full refund of the money to be remitted if we incur a delay of five (5) business days in providing the remittance. The 5 days is calculated from the date we receive the full amount of your remittance and associated fees and all required documentation.

Refunds will be processed within 5 business days of receipt of a valid and formal written request from the Customer.

 

9. Liability and Indemnity

You agree to indemnify holding us harmless from any and all liabilities, claims, costs, expenses and damages of any nature, including, but not limited to, reasonable legal fees and any fees and expenses incurred in connection with litigation, arising out of or relating to your negligence, cyber security breach or wilful misconduct, the violation of any law, or the breach of any provision of this Agreement.

 

10. Information and Confidentiality

We reserve the right to collect all information necessary about you in order for us to meet our regulatory obligations under applicable laws, in particular, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Act). We may collect such information from you, from third parties, or by carrying out electronic database searches to verify your identity and credit standing, where necessary. We will also carry out relevant checks and other screenings deemed necessary or appropriate under the Act. In doing so, we are not obliged to inform you about the checks or screening we have undertaken.

We value your privacy and we will keep all information we collect and hold about you in accordance with Australia’s Privacy Act 1988. As Compass’ Affiliate, we are bound to observe Compass’ Privacy Policy, a copy of which is accessible via this link: http://info.compassmarkets.com/hubfs/Privacy_Policy.pdf. You must read and understand this Privacy Policy.

 

11. Modification/Termination of The Service

We reserve the right at any time to modify, update or discontinue, temporarily or permanently, the Service with or without notice. We shall not be liable to you or any third party for any modification, suspension or discontinuance of the Service. However, we will ensure the prompt and timely delivery of your transactions received prior to the discontinuance of the Service.

You accept and agree that, pursuant to this paragraph 11 and paragraph 9, we, in our sole discretion, may terminate your account temporarily or permanently without prior notice and for any reason, including if/when we form the view that you have violated or breached the terms and conditions of the Service.

 

12. Governing Jurisdiction

This Agreement shall be governed by and construed in accordance with the Law of New South Wales. The parties agree to irrevocably submit to the non-exclusive jurisdiction of the Courts of New South Wales.