TERMS & CONDITIONS (“TERMS”)
- Money World Asia Pte. Ltd (“MWA”) is licensed under the Money-changing and Remittance Businesses Act (Cap/187) of Singapore to operate a remittance business.
- All charges incurred outside of Singapore are payable by the Applicant unless otherwise specified.
- MWA reserves the right to revise all charges for its services from time to time without prior notice.
- Encashment of the remittance is subject to the rules, regulations and market practices of the country where or through which payment is to be made.
- MWA may instruct any of its affiliates, another bank, a clearing house, a payment, clearing or settlement system or other payment intermediary (each a “payment intermediary”) in the execution of the remittance. Each payment intermediary may rely on the Applicant’s remittance instructions as if directed to it. MWA and/or its payment intermediaries further reserves the right to use any means of transfer in connection with the execution of the remittance, including telegraphic transfer, currency swaps or any other means or methods as may be determined by MWA in its sole and absolute discretion.
- MWA and its payment intermediaries are subject to the laws, orders, requests and guidelines (each a “regulation”) of various governmental, quasi-governmental and self-regulatory authorities (each an “authority”) and also to the respective policies and procedures (each a “policy”) adopted by MWA and its payment intermediaries relating to, without limitation: anti-money laundering; counter-terrorism financing; security, diplomatic, trade, financial, economic and other embargoes and sanctions; court orders; investigations; taxes; transaction review and monitoring; and reporting requirements. In seeking to comply with such regulations and policies, MWA and/or its payment intermediaries may (a) suspend, reject or block the remittance; (b) restrain, deduct, impound and/or turn over to an authority, Applicant’s funds in respect of the remittance, including from Applicant’s accounts; (c) report the remittance, its details and those of Applicant to one or more authorities; and (d) take or forbear from taking any other action. Applicant shall bear the risk of any delay and losses relating to any and all actions or forbearance from action. MWA and its payment intermediaries may not be permitted to disclose information relating to actions taken in respect of regulations or their policies, immediately or at any time.
- MWA may suspend or terminate the execution of the remittance as a result of any force majeure event, including, without limitation: (a) change in any regulation or in the interpretation or enforcement of any regulation; (b) act, order or request of any authority; (c) restriction or impending restriction on the availability, convertibility, credit or transferability of any currency; (d) failure or default of any payment intermediary; (e) malfunction of a computer system; (f) failure or default of a service provider or vendor to MWA; (g) any failure in the transmission of, or miscommunication with respect to, the remittance instruction; or (h) any other event beyond MWA’s reasonable control. The Applicant shall bear the risk of any delay and losses relating to a force majeure event.
- MWA and its affiliates shall not be liable to the Applicant for any loss, damage or expense suffered or incurred by the Applicant or any other person however arising or described and whatever the legal basis of the liability in connection with the remittance, the execution of the remittance by MWA’s payment intermediaries, and any delay or inability to effect the remittance owing to any event beyond the MWA’s control or through no fault of the MWA, save where such loss or damage is directly caused by fraud or willful misconduct of the MWA or its employees. MWA shall not be liable for any indirect or consequential loss or loss of profit whether or not they were foreseeable. MWA shall also not be responsible for any loss the Applicant may suffer or incur in connection with any act or omission of a payment intermediary.
- The Applicant shall indemnify MWA and its affiliates on demand against, and hold from, any and all losses, damages, costs, claims, expenses and liabilities, whether or not reasonably foreseeable, sustained or incurred by MWA and/or its affiliates as a result of or in connection with MWA acting on the Applicant’s instructions herein, effecting the transfer of funds (except where due solely to the gross negligence, willful default or fraud of MWA), any breach of these Terms, or otherwise in connection with the enforcement by MWA of any of its rights hereunder. The Applicant agrees that this indemnification obligation hereunder is an unconditional and independent obligation and shall not be affected, prejudiced or limited by the effectiveness or enforceability of any agreement.
- MWA reserves the right not to accept any application without having to assign any reason for doing so.
- These Terms are subject to the terms and conditions contained on MWA’s website (http://moneyworld.com.sg/terms-conditions/). In the event of any inconsistencies, the terms and conditions on the website shall prevail. MWA reserves the right to add, alter, vary and modify any of these terms and conditions, including those contained on the website, at any time at its discretion without any prior notice.
- For any enquiries, please call our general enquiry number at (65) 6221 1755. The operating hours are as follows:
Mon – Fri: 8.30 am to 6.00 pm;
Sat, Sun and Public Holidays: Closed.
- These Terms are governed by the laws of Singapore. The parties submit to the non-exclusive jurisdiction of the courts of Singapore.
I. LEGAL INFORMATION
II. COLLECTION OF PERSONAL DATA
Personal data refers to data about an individual who can be identified from either that particular data, or from that data and other information which MWA has or is likely to have access to.Such personal data shall also refer to the data which is already in our possession or the data to be collected by us. Commonly collected personal data of our customers typically include, amongst other things, names, addresses, telephone (landline and mobile) numbers, e-mail addresses, identification numbers, nationalities, dates of birth, specimen signature(s) and banking information.
Collection of personal data
Wherever possible, we only collect personal data directly from you. Without limitation, this can occur during or before you
- register for an account with MWA;
- submit an application or request for the use of Services; and/or
- use the Services.
III. USE OF PERSONAL DATA
Using your personal data
We collect personal data from our existing and prospective customers and employees for various reasons. Without limitation, these purposes include:-
- fulfilling any of our obligations or exercising any of our rights under the Terms & Conditions;
- providing and improving our Services and your experience on the Website;
- reviewing, processing and confirming any request or application submitted by you in connection with the use of the Services
Personal data will be held for as long as it is necessary to fulfil the purpose for which it was collected, or as required or permitted by applicable laws. We shall cease to retain personal data, or remove the means by which the personal data can be associated with particular individuals, as soon as it is reasonable to assume that the purpose for which that personal data was collected is no longer being served by retention of the personal data and retention is no longer necessary for legal or business purposes.
Sharing your personal data
We may share your personal information with trusted third parties. Such parties may either be in Singapore or abroad and may include:
- our advertising, marketing and promotional agencies to help us deliver and analyze the effectiveness of our advertising campaigns and promotions;
- third parties required to process or deliver Services to you including but not limited to MWA’s agents or payment intermediaries;
- law enforcement or government authorities where they have followed due legal process to request us to disclose the information;
- third party providers of services, such as data processing; and/or
- web analytics tool providers, such as Google.
We share your personal data for the following reasons: –
- reasons provided under ‘using your personal data’;
- verification of your identity;
- processing transactions for the use of our Services;
- to protect the rights or property of MWA (including but not limited to any intellectual property rights);
- to respond to claims that you violated the rights of third-parties;
- conduct investigations into possible breaches of applicable laws; and/or
- tocomply with a court order or other legal or regulatory requirements in the jurisdictions we operate.
In situations where a third party under contract with MWA collects personal data about you, we use commercially reasonable efforts to require the third party to exercise reasonable care in protecting your information.
IV. AMENDMENTS TO PERSONAL DATA / OPT OUT
You have a right to access, change and remove the personal data held by MWA. If you wish to do so, please contact our Data Protection Officer at email@example.com. You may also decline to receive e-mails by clicking on ‘unsubscribe’ in any marketing e-mail you receive.
To the extent not required by MWA in connection with providing the Services, if you do not want your personal data to be shared among affiliates, business partners or unrelated third parties, you may opt-out of such information sharing by sending us an email at firstname.lastname@example.org.
MWA uses reasonable measures to protect your personal data and to store it securely. Where personal information is entered on the Website, it is protected through the use of encryption, such as the Secure Socket Layer (SSL) technology. However, due to the inherent nature of the Internet as an open global communications vehicle, no method of transmission over the Internet or method of electronic storage is 100% secure. While security cannot be guaranteed, we strive to protect your personal data and are constantly reviewing and enhancing our security protocols to ensure that your personal data is not subject to unnecessary risks.
VI. TRANSFER OF PERSONAL DATA
We may transfer, store, process and/or deal with your personal data outside Singapore. In doing so, we will comply with the Singapore Personal Data Protection Act 2012 (“PDPA”) and other applicable data protection and privacy laws.
In the event that MWA, or substantially all of its assets are acquired by one or more third parties as a result of an acquisition, merger, sale, reorganization, consolidation or liquidation, such data bases containing customer personal information may be one of the transferred assets. In using the Services, you consent to such transfer of your personal data.