Fiat Terms & Conditions

3. ELIGIBILITY

To use our Services, you must be at least 18 years old or the legal age in your jurisdiction and legally capable of entering into contracts. International use is subject to regional restrictions based on local laws.

Our Services are intended solely for users who can lawfully enter into contracts under applicable law and are not intended for use or distribution in any jurisdiction or country where such use would be contrary to local law or regulation. Accessing the Services from territories where their content or use is illegal is prohibited.

We do not provide Services to individuals or entities located in, under the control of, or a national or resident of any country to which the European Union, the United States, or the United Nations has embargoed goods or imposed similar sanctions, including but not limited to the following:

This list is subject to change based on international laws and regulatory requirements. It is your responsibility to ensure that your use of our Services complies with all applicable laws and regulations in your country of residence and that you are not in violation of any sanctions or embargoes.

By using our Services, you represent and warrant that you are not located in any such prohibited country, you are not on any government sanctions list, and you will not use the Services to conduct any transaction that would violate sanctions imposed by the European Union, United States, United Nations, or other applicable jurisdictions.

We reserve the right to refuse service to any individual or entity at our sole discretion, particularly if there are concerns about legal or regulatory compliance, risk management, potential harm to our platform, or if we suspect any involvement in illegal or unethical activities.

4. ACCOUNT REGISTRATION AND MAINTENANCE

4.1 Account Creation

a) Provide accurate and complete information during registration, including identification and contact details.

b) Identity verification (KYC) may be required under applicable laws before accessing certain services.

4.2 Account Types

Users may have different Account levels with varying features and limits based on verification status and usage patterns.

4.3 Identity Verification (KYC & EDD)

To prevent fraud, comply with anti-money laundering (AML) and counter-terrorism financing (CTF) laws, and meet other legal requirements, we implement Know Your Customer (KYC) and Enhanced Due Diligence (EDD) procedures. These processes help protect our platform and all users.

To comply with KYC/AML regulations, you may be required to provide us with certain personal information and documentation, such as your full legal name, address, date of birth, government-issued identification, and proof of address. We may also require additional information to verify the source of your funds. Requirements may vary depending on your region of residence.

We use reputable third-party service providers with expertise in secure data handling and compliance to conduct identity verification and diligence checks. We also employ advanced AML and EDD transaction monitoring systems to assess risks, track IP addresses, monitor transaction behaviors, and identify suspicious activities.

You must fully cooperate with all KYC and EDD procedures by providing accurate, current, and complete information when requested. Failure to do so, or providing false or incomplete information, may result in restricted access to services, account suspension, or closure. You acknowledge that KYC and EDD are ongoing processes, and we may periodically request updated information and documentation to ensure compliance.

We reserve the right to suspend or terminate any account found to be engaging in activities that violate our KYC, EDD, or AML policies. We may also report suspicious activities to relevant governmental and regulatory bodies as required by law.

You acknowledge that KYC and EDD are ongoing processes, and we may periodically request updated information and documentation to ensure compliance with applicable laws and regulations.

4.4 Account Security

Maintain confidentiality of your account credentials. Notify us immediately of any unauthorized use.

4.5 Multiple Accounts

a) Users are prohibited from creating or maintaining multiple accounts.

b) Violation of this policy may result in account restrictions or closures.

4.6 Account Inactivity

Inactive accounts may incur fees or be closed after advance notice.

4.7 Account Closure

a) Users may close their Account at any time, subject to any ongoing transactions or obligations.

b) We reserve the right to close or suspend Accounts for violations of these Terms or applicable laws.

5. SERVICES

5.1 Fiat On/Off Ramp Service

a) The Fiat On/Off Ramp Service enables Users to exchange Fiat Currency for Virtual Currencies (On-Ramp) and Virtual Currencies for Fiat Currency (Off-Ramp), subject to the terms and conditions herein.

b) The provision of the Fiat On/Off Ramp Service is subject to applicable fees, exchange rates, and regulatory requirements, which may vary depending on the User's jurisdiction and the nature of the transaction.

5.2 Deposit and Withdrawal Rules

a) Deposits and withdrawals may be processed via bank transfers, credit/debit cards, or alternative payment methods, as made available on the platform, subject to the Company's policies and procedures.

b) Deposits and withdrawals may be subject to certain limits, which may vary based on your verification level, transaction history, and other factors. These limits will be displayed on the platform.

c) Delivery and processing times may vary depending on the payment method and the policies of the relevant financial institutions, and are subject to change without prior notice.

d) Fiat deposits and withdrawals must originate from a source in the User's name, as verified through KYC and EDD procedures. Deposits and withdrawals from sources that do not provide sufficient details (e.g., account owner's name) in the payment data may be held by the Company until the User provides satisfactory evidence of ownership, or may be refunded to the originating account.

e) By utilizing the Fiat On/Off Ramp Service, the User represents and warrants that the source of funds for the transaction has not been obtained through any illegal, money laundering, or terrorist financing-related activities, in accordance with applicable laws and regulations.

5.3 Wallet Services

a) The Company may integrate with third-party Wallet Providers to facilitate the storage and management of Virtual Currencies by Users.

b) The Company is not responsible for the services provided by the Wallet Provider, and does not control its operation or functionality. We are not responsible for the security of your virtual currencies stored in the third-party wallet. You use the Wallet Services at your own risk.

c) By utilizing the Wallet Services in conjunction with the Company's platform, Users agree to be bound by the Wallet Provider's Terms of Use ("Wallet Terms and Conditions"), which can be accessed via this hyperlink: https://blog.wello.tech/wallet-terms-and-conditions

d) The Wallet Terms and Conditions constitute a separate agreement between the User and the Wallet Provider, and the Company is not a party to this agreement.

e) Users are responsible for reviewing, understanding, and complying with the Wallet Terms and Conditions, including any fees, limitations, or restrictions imposed by the Wallet Provider.

f) Users will be required to explicitly accept the Wallet Terms and Conditions prior to utilizing the Wallet Services.

g) Continued use of the Wallet Services constitutes ongoing acceptance of the Wallet Terms and Conditions, as may be amended from time to time.

h) Any disputes related to the Wallet Services should be directed to the Wallet Provider, in accordance with its dispute resolution procedures.

i) The Company shall not be liable for any losses, damages, or liabilities arising out of or relating to the User's use of the Wallet Services.

j) While the Company integrates the Wallet Services into its platform for User convenience, it does not endorse or guarantee the quality, security, or reliability of the Wallet Services.

k) Users acknowledge and agree that their use of the Wallet Services is at their own risk, and that the Company shall not be responsible for any losses or damages resulting therefrom.

l) To facilitate the integration of the Wallet Services, the Company may share necessary User data with the Wallet Provider, in accordance with its Privacy Policy and applicable data protection laws.

m) Users consent to this data sharing by utilizing the Wallet Services, and acknowledge that the handling of User data by the Wallet Provider is subject to its own privacy policy.

n) The Wallet Provider may terminate or suspend the Wallet Services in accordance with its Terms and Conditions, which may impact the User's ability to utilize certain features of the Company's platform.

o) Users must comply with the Wallet Terms and Conditions at all times when utilizing the integrated services.

5.4 Limitations of Service

a) The Company may impose limitations on transaction amounts, frequencies, or other aspects of the Service, based on security, compliance, or operational considerations, in accordance with applicable laws and regulations.

b) The Company reserves the right to modify, suspend, or discontinue any aspect of the Service at any time, with reasonable notice to Users, where practicable.

5.5 Integration of Third-Party Services

a) The Service may integrate with third-party services to enhance functionality and provide additional features to Users.

b) The use of such integrated services is subject to the respective third-party terms and conditions, which Users are responsible for reviewing and complying with.

c) The Company shall not be liable for the performance, security, or privacy practices of third-party services, and makes no representations or warranties with respect thereto.

d) The Company does not guarantee the continuous availability of third-party services, and shall not be liable for any losses or damages resulting from their unavailability.

5.6 Execution of Transactions

a) The Company will use commercially reasonable efforts to execute transactions in accordance with the User's instructions, subject to the availability of liquidity and compliance with applicable laws and regulations.

b) The Company does not guarantee that a transaction will be executed or that it will be executed within a specific timeframe, and shall not be liable for any delays, failures, or errors in the execution of a transaction.

c) The Company may refuse to execute or cancel a transaction if it is required to do so by law, regulation, or court order, or if it suspects fraudulent or illegal activity.

6. FEES AND CHARGES

6.1 Fee Schedule

a) The Company charges fees for the provision of the Fiat On/Off Ramp Service, as set forth in the Fee Schedule published on the Company's platform.

b) The Fee Schedule may be updated from time to time, at the Company's sole discretion, and Users are responsible for reviewing the most current version prior to utilizing the Service.

6.2 Fee Disclosure

a) All applicable fees will be clearly displayed to the User prior to the confirmation of any transaction, enabling the User to make an informed decision.

b) Users must review and accept the fees before proceeding with a transaction, and acknowledge that such fees are non-refundable, except as expressly provided in these Terms.

6.3 Payment of Fees

a) Fees may be deducted from the transaction amount or charged separately to the User's Account, as determined by the Company.

b) Users are responsible for ensuring that their Account has sufficient funds to cover both the transaction amount and the associated fees.

6.4 Third-Party Fees

a) Users may incur additional fees from third-party service providers, such as banks (for wire transfers), card processors (for credit/debit card transactions), or payment gateways.

b) Users are solely responsible for any such third-party fees, and acknowledge that the Company shall not be liable therefor.

6.5 Changes in Fees

a) The Company reserves the right to modify its fees at any time, at its sole discretion, subject to applicable laws and regulations.

b) The Company will provide reasonable notice to Users of any changes in fees, where practicable.

7. REFUND AND CANCELLATION RULES

7.1 Transaction Finality

Transactions executed via the Fiat On/Off Ramp Service are final and irreversible, and cannot be cancelled once initiated.

7.2 No Refunds

Except as expressly provided in these Terms, there shall be no refunds for completed transactions, as Users acknowledge and agree that the Company is providing a service and not selling a product.

7.3 Incomplete Transactions

If a User believes that a transaction was incomplete or improperly executed, they should contact the Company's support team at support@wellowallet.com for assistance, providing all relevant details and documentation.

7.4 Failed Transactions

If a transaction fails due to a technical error on our part, we will make reasonable efforts to rectify the situation, which may include a refund of the transaction amount, less any applicable network fees or third-party charges. Refunds will not be issued for transactions that fail due to user error (e.g., providing an incorrect recipient address) or market volatility.

8. USER RESPONSIBILITIES AND RESTRICTIONS

8.1 Accurate Information

a) Users must provide and maintain accurate, current, and complete Account information, including but not limited to personal identification details, contact information, and financial information.

b) Users must promptly update their Account information in the event of any changes, to ensure compliance with applicable laws and regulations.

8.2 Legal Compliance

a) Users must comply with all applicable laws and regulations when using the Service, including but not limited to securities laws, tax laws, and anti-money laundering laws.

b) Users are solely responsible for determining their own tax obligations related to the use of the Service, and should consult with a qualified tax advisor for guidance.

8.3 Account Security

a) Users must maintain the security of their Account credentials and devices used to access the Service, and should take all reasonable precautions to prevent unauthorized access.

b) Users must not share their Account credentials with any third party, and should immediately notify the Company of any suspected breach of security.

8.4 Prohibited Activities

Users are expressly prohibited from engaging in any of the following activities:

a) Using the Service for any illegal purposes or in connection with any unlawful activity, including but not limited to money laundering, terrorist financing, fraud, and securities violations.

b) Attempting to gain unauthorized access to the Company's systems or other Users' Accounts.

c) Interfering with or disrupting the operation of the Service, including but not limited to hacking, denial-of-service attacks, and spamming.

d) Using the Service to engage in fraudulent or deceptive practices, including but not limited to phishing, spoofing, and identity theft.

e) Violating any intellectual property rights related to the Service, including but not limited to copyright, trademark, and trade secret rights.

f) Using the Service in any manner that could damage, disable, overburden, or impair the Company's platform.

g) Using any robot, spider, crawler, scraper, or other automated means or interface not provided by the Company to access the Service or extract data.

h) Introducing any viruses, Trojan horses, worms, logic bombs, or other material which is malicious or technologically harmful.

i) Taking any action that may impose an unreasonable or disproportionately large load on the Company's infrastructure.

j) Using the Service in connection with any form of spam, unsolicited mail, fraud, scam, phishing, or similar conduct.

k) Using a Virtual Private Network (VPN) without the Company's explicit permission.

l) Using Voice Over Internet Protocol (VoIP) computers or devices without the Company's explicit permission.

8.5 Content Restrictions

Users agree not to provide User Content or engage in any conduct that:

a) Is unlawful, illegal, or unauthorized.

b) Is defamatory, obscene, sexually explicit, or offensive.

c) Advertises or promotes any other product or business.

d) Is likely to harass, upset, embarrass, alarm, or annoy any other person.

e) Is likely to disrupt our Service in any way.

f) Promotes discrimination based on race, sex, religion, nationality, disability, sexual orientation, or age.

g) Infringes any copyright, trademark, trade secret, or other proprietary right of any other person.

h) Advocates, promotes, or assists any violence or any unlawful act.

8.6 High-Risk Merchants

a) Transactions with certain merchant categories may require pre-approval or additional verification, as determined by the Company.

b) The Company reserves the right to restrict or decline transactions with high-risk merchants at its sole discretion, in accordance with applicable laws and regulations.

9. RECOGNITION OF RISK

9.1 Market Volatility

a) Users acknowledge that the market for Virtual Currencies is highly volatile, and that the value of Virtual Currencies may fluctuate rapidly and unpredictably.

b) Users are solely responsible for assessing the risks associated with trading Virtual Currencies, and should not rely on the Company for investment advice.

9.2 Regulatory Risks

a) The regulatory landscape for Virtual Currencies is evolving and uncertain, and future regulatory changes may impact the availability or legality of the Service.

b) Users acknowledge that the Company may be required to modify or discontinue the Service in response to regulatory changes, and shall not be liable for any losses or damages resulting therefrom.

9.3 Technical Risks

a) The Service may experience downtime, delays, or technical issues, which may impact the User's ability to access or utilize the Service. There is also a risk of hacking, malware attacks, or other security breaches that could compromise the security of your account and your funds.

b) Users acknowledge that transactions may be delayed or fail due to network congestion, software bugs, or other technical factors, and that the Company shall not be liable for any losses or damages resulting therefrom.

9.4 No Investment Advice

a) The Company does not provide any investment, financial, or legal advice, and Users should not rely on the Company for such advice.

b) Users are solely responsible for their decisions to use the Service and engage in transactions, and should consult with a qualified professional for guidance.

9.5 Security Risks

a) Users acknowledge that Virtual Currencies are subject to security risks, including hacking, theft, and fraud, and that the Company cannot guarantee the security of Virtual Currencies held in User Accounts.

b) The Company shall not be liable for any losses or damages resulting from security breaches, hacking incidents, or fraudulent activities.

10. PRIVACY AND DATA PROTECTION

Your use of our Services is subject to and governed by our Privacy Policy. By accessing or using our Services, you explicitly acknowledge that:

a) You have read and fully understood our Privacy Policy.

b) You agree to all terms and conditions outlined in the Privacy Policy.

c) You consent to the collection, use, storage, and sharing of your personal information as described in the Privacy Policy.

d) You understand your rights regarding your personal data and how to exercise them.

e) You accept any updates or modifications to our Privacy Policy that may occur from time to time.

f) If you do not agree with any part of our Privacy Policy, you must refrain from using our Services. Continued use of the Services constitutes your ongoing acceptance of the Privacy Policy and any future updates.

By using our Services, you acknowledge and agree that we may share your personal information with the third-party wallet provider to facilitate the fiat on/off ramp services. This data sharing is governed by our Privacy Policy and the privacy policy of the wallet provider.

11. INTELLECTUAL PROPERTY

11.1 Ownership

a) All intellectual property rights in our platform, services, and related content belong to us or our licensors.

b) Users may not use our intellectual property without our express written permission.

11.2 Limited License

a) We grant Users a limited, non-exclusive and non-transferable license to use our services for their intended purposes.

b) This license does not allow Users to modify, distribute, or create derivative works based on our services.

12. LIMITATION OF LIABILITY

12.1 Disclaimer of Warranties

Our Services are provided on an "as is" and "as available" basis, without any representations or warranties of any kind, express or implied. To the fullest extent permitted by law, we expressly disclaim all warranties, whether express, implied, statutory, or otherwise, including but not limited to the implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement, and warranties arising from course of dealing or usage of trade.

12.2 Limitation of Liability

In no event shall BONBYTE TECHNOLOGY sp. z o.o., its affiliates, directors, officers, employees, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, punitive, or exemplary damages, including but not limited to loss of profits, goodwill, use, data, or other intangible losses, regardless of the legal theory, whether in contract, tort (including negligence), strict liability, or any other theory, arising out of or relating to your use of or inability to use the Services, even if we have been advised of the possibility of such damages.

Our total liability to you for any claim arising out of or relating to these Terms or our Services is limited to the amount of fees you have paid to us for the use of the Services in the six (6) months immediately preceding the event giving rise to the claim.

12.3 Force Majeure

Under no circumstances shall we be held liable for any delay or failure to perform resulting directly or indirectly from acts of nature, forces, or causes beyond our reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, electrical power failures, strikes, riots, insurrections, civil disturbances, shortages of labor or materials, fires, floods, storms, explosions, acts of God, war, government action, orders of domestic or foreign courts or tribunals, or non-performance of third parties.

12.4 Service Interruptions

We are not responsible or liable for any disruption or discontinuance of the Services arising from or related to actions or periods of high demand, service upgrades or repairs, network congestion, or failure of internet connections, and we make no guarantee regarding the continuous availability or uptime of our Services.

13. TERMINATION

13.1 User Termination

a) Users may terminate their Account at any time by providing written notice to us.

b) Termination is subject to the completion of any pending transactions and the payment of any outstanding fees.

13.2 Company Termination

a) We reserve the absolute right to terminate or suspend your Account or access to our services at any time, for any reason, and without liability to you. This includes, but is not limited to, situations where:

i. You violate these Terms. 

ii. We suspect you are engaging in fraudulent or illegal activity. 

iii. We are required to do so by regulatory or legal requirements. 

iv. We deem it necessary to protect our interests or the interests of other users.

b) We may, but are not obligated to, provide you with notice of termination unless prohibited by law or if doing so would compromise security, operational integrity, or our legal obligations.

13.3 Effects of Termination

Upon termination, your access to your Account and our services will be immediately revoked. We may retain your data for a period after termination as outlined in our Privacy Policy and as required by applicable data protection laws. You remain responsible for fulfilling any outstanding obligations or liabilities incurred before termination. Certain sections of these Terms, which by their nature are intended to survive termination, will continue to apply even after your account is closed.

13.4 Termination Restrictions

You may not terminate your account under the following circumstances:

a) If you are attempting to evade an ongoing investigation. 

b) If there are any transactions pending or disputes unresolved. 

c) If your account is subject to a hold, limitation, or reserve.

14. ALTERATIONS

14.1 Alterations in the Terms

We may modify these Terms at any time at our sole discretion. Material changes will be notified to Users via email, regular mail, or postings on our platform. Continued use of our services after any changes constitutes acceptance of the modified Terms.

14.2 Alterations in the Services

We may modify, suspend, or discontinue any aspect of our services at any time. We will provide reasonable notice of any material changes to our services, unless circumstances require immediate action. The Company shall not be liable for any losses or damages resulting from such modifications, suspensions, or discontinuations.

15. LICENSING AND REGULATORY INFORMATION

15.1 Licensing and Regulatory Compliance

BONBYTE TECHNOLOGY sp. z o.o. is registered in the Register of Activities in the Field of Virtual Currencies under number RDWW-795, complying with all applicable regulations for Virtual Asset Service Providers (VASPs) in Poland. We are authorized to operate as a VASP in Poland, providing Fiat On/Off Ramp services in accordance with local laws and regulations. Our operations are subject to ongoing monitoring and oversight by regulatory authorities to ensure compliance with anti-money laundering (AML), counter-terrorist financing (CTF), and other applicable legal requirements. We reserve the right to restrict or deny access to our services in jurisdictions where we are not licensed or authorized to operate, or where local laws and regulations prohibit the provision of such services. We are committed to maintaining compliance with all applicable laws and regulations, and we may update our policies and procedures from time to time to ensure continued compliance.

16. GOVERNING LAW AND DISPUTE RESOLUTION

16.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of Poland, without regard to its conflict of law provisions.

16.2 Dispute Resolution

a) Any dispute arising from or relating to these Terms or our services shall first be attempted to be resolved through good-faith negotiations.

b) If negotiations fail, the dispute shall be submitted to binding arbitration in accordance with the rules of the Polish Court of Arbitration at the Polish Chamber of Commerce.

c) The arbitration shall take place in Warsaw, Poland, in the English language.

d) The decision of the arbitrator shall be final and binding on both parties.

16.3 Class Action Waiver

Users waive any right to participate in a class action lawsuit or class-wide arbitration related to these Terms or our services.

17. MISCELLANEOUS

17.1 Entire Agreement

These Terms constitute the entire agreement between Users and the Company regarding the subject matter herein and supersede all prior or contemporaneous agreements, understandings, and communications.

17.2 Severability

If any provision of these Terms is found to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that these Terms shall otherwise remain in full force and effect and enforceable.

17.3 No Waiver

Our failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision.

17.4 Assignment

a) Users may not assign or transfer their rights or obligations under these Terms without our prior written consent.

b) We may assign our rights and obligations under these Terms without restriction.

17.5 Notices

We may provide notices to Users via email, regular mail, or postings on our platform. Users agree that electronic communications, including email, are considered valid and legally binding forms of communication. Users may provide notices to us at the address specified in the Contact Information section.

17.6 Language

These Terms are written in English. Any translated version is provided for convenience only, and the English version shall control in case of any conflict.

18. CONTACT INFORMATION

For questions, concerns, or notices related to these Terms, please contact us at: support@wellowallet.com

By using our Services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Use.