Transfer Rapid Ltd, a private limited company registered at One London Wall, Floor 6, London EC2Y, UK, and authorized by the Financial Conduct Authority in 2012 (company reference number 572326) to operate as an Authorized Payment Institution (API) throughout United Kingdom.

Transfer Rapid Electronic SRL, a limited liability company located at B-dul. Unirii 72, Bloc J3, Scara C, Camera 801, Sector 3, București 030836 Romania, with Tax Identification Number (TIN) or Value Added Tax Identification Number (VAT) 30384701, authorized by the National Bank of Romania as an Authorized Payment Institution, registered in the Register of Payment Institutions with number 010/15.03.2019, authorized throughout all 30 countries of the European Economic Area (EEA): Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

Both companies, hereinafter individually and collectively known as Transfer Rapid

provide the current Terms and Conditions Framework Agreement which together with other related documents represent a contract between you (the "Client") and Transfer Rapid, insofar accepted by you, and which will allow you the use of the Transfer Rapid portal found at www.transferrapid.com as a means to transfer money online to a Designated Recipient.

The corresponding applicable license will be based on the residence address of the Sender, as indicated on the registration form (United Kingdom or EEA).

Transfer Rapid receives the money from the Senders and provides the payment service at their request either directly into the Beneficiaries’ bank account ("Online to Account Transfers") or cash ("Online to Cash Transfers") through a Transfer Rapid payment agent, namely CEC Bank.

Money Transfer is the transmission of funds to a designated Recipient, pursuant to the payment terms entered by you into the Transfer Rapid portal for money transfers;

Paying Agent is the entity appointed by us for "Online Transfer for Cash Pick Up" transactions in order to release the funds to Beneficiaries at the Paying Agent locations in the destination country identified in your payment instructions;

Recipient is the individual (natural or legal person) designated by you as being the receiver of the Money Transfer upon his/her identification and confirmation in accordance to regulatory requirements;

Sender is the person who initiates an online money transfer on the Transfer Rapid portal for money transfers at www.transferrapid.com;

Source Currency is the currency type that you have on your credit/debit card, and/or the funds used for the payment order;

Target Currency is the currency that you select from the options provided on the Transfer Rapid portal in the destination country where the Beneficiary will receive that particular money transfer;

Transaction Fee is defined as the fee charged by Transfer Rapid in connection with the money transfer;

Transfer Rapid Portal is the Transfer Rapid portal for money transfers found at www.transferrapid.com

Transfer Rapid Account is the electronic service provided to a Client on the www.transferrapid.com website, and identified by an email address (login) and a password introduced by the Client, that is data collected by a software system which allows the Client to use features/additional services (i.e. transaction history visualization;

Facial recognition is the technology that provides a secure authentication through accurately identifying the facial features of a person, and used for the completion of a transfer within the Transfer Rapid application.

In the hereby Terms and Conditions Framework Agreement, the terms "you," "your," and "user" refer to the person who has been verified, and successfully registered to use the money transfer service of Transfer Rapid.

Transfer Rapid provides to the registered users of its electronic service the ability to initiate money transfers to designated Beneficiaries using credit and debit cards that have bank accounts in an EEA currency.

In order to use this service, you will be required to provide us with information on the Transfer Rapid portal that is necessary for us to correctly verify your identity, validate your bank account, and complete the Money Transfer in compliance with applicable laws and regulations. You must also provide us a valid email address.

In an effort to provide you with services in accordance with the contract, we must collect certain information about you. Based on the data protection legislation, Transfer Rapid is what is defined as a "data processor" of your personal data.

We may require the following information: proof of your identity, such as a copy of your ID or passport, or any other identity document, proof of your residence, and/or proof of the source of funds. In order to verify the identity of the user, we also employ a series of automated controls to check the validity of one or more identity documents, as well as the user's video recording. We reserve the right at any time to request all of the aforementioned documents, and any other supporting documents we may deem necessary.

By agreeing to this contract, you are allowing us to collect, process, and store your personal data for the purpose of offering you our services. This agreement does not prejudice any rights or obligations that you or we have under the data protection legislation.

The categories of processed data with regards to the processing of your identity document and video recording are as follows:

• Civil status
• Identity
• Identification data
• Photos
• Biometric data, such as facial features (facial recognition)

This data is collected from the user, and can generate an automated decision.

You can withdraw your permission by cancelling your account, which will result in the termination of the contract between you and Transfer Rapid. By you taking this action, we will not use your data for the purpose of offering you our services, however, it is likely that we will keep this data for other legal reasons.

The Transfer Rapid portal offers you two options to send your funds:

• "Online Transfer for Cash Pick Up," whereby you, as the Sender, initiates the money transfer using your debit or credit card, and the Beneficiary receives the money in cash at one of our Paying Agent's locations during business hours or through the Payment Agent's ATMs on the basis of a "Loyalty Card", and
• "Online Transfer to Bank Account," whereby you, as the Sender, initiates the money transfer using your debit or credit card, and the money is deposited in the bank account indicated by you in your Money Transfer instructions.

The Transfer Rapid portal provides clear and simple instructions that you must follow to ensure that your funds are received by your intended Recipient. It is your responsibility to provide us accurate data as per our instructions before you complete the Money Transfer.

• For "Online Transfer for Cash Pick Up," the Transfer Rapid portal offers you the possibility of sending the identity document information via an electronic channel. Thus, on your account created at www.transferrapid.com there is a special field where you can upload your valid identity document or passport, and then, you can enter the complete name of the Recipient, that is, the exact names as indicated on the Recipient's identity document, which will also be required at the time of retrieving the funds. Additionally, the Beneficiary must provide the Unique Transaction Identification (UTI) that was generated and communicated to you, the Sender, on the Transfer Rapid portal upon receiving the confirmation of the Money Transfer that you completed;
• For "Online Transfer to Bank Account," the same procedure applies, that is, in order to proceed with the money transfer you will be required to upload a valid identity document or passport, and then, provide us the complete name of the Recipient, name of the bank, bank identifier (SWIFT code), and bank account number (IBAN).

For all the Money Transfers you must include the amount you wish to send (the "Transaction Amount").

Before you confirm a transaction, if your Currency, Source Currency and Target Currency differ, the Transfer Rapid portal will provide clear and transparent information with regards to the foreign exchange rate that will be applied to your transaction ("Exchange Rate"), as well as the applicable Transaction Fee. We will also provide you with the exact amount the Beneficiary will receive ("Amount Paid") after deducting the Transaction Fee, and the Exchange Rate conversion. You will have the option of accepting or declining the transaction based on your acceptance or rejection of the Transaction Fee and the Exchange Rate provided to you.

The money transfer for "Online Transfer for Cash Pick Up" can be paid to a Beneficiary in one of the two target currencies, and you have the option of selecting between: the Romanian currency (RON), Euro currency (EUR), or pound sterling currency (GBP). If your source currency is not one of these three currencies, RON, EUR, or GBP, or if your source currency is in EUR, and you wish to convert it into RON, then, you will need to apply Transfer Rapid's Exchange Rate in order to access the money transfer for "Online Transfer for Cash Pick Up" from the Transfer Rapid portal.

The Money Transfer request will be submitted by the Sender via the Sender's registered account on the Transfer Rapid portal. By completing the information required to complete a Money Transfer, and confirming this request via the Transfer Rapid portal, the Sender instructs, and consents to Transfer Rapid executing the Money Transfer submitted by him/her.

The Transfer Rapid portal will thereafter provide you, the Sender, with the receipt indicating the complete Money Transfer information, including the unique transaction identification number ("UTI") of the Money Transfer, the amount of the transfer in the Source Currency, the Amount Paid in the Target Currency, the Transaction Fee, and the date of the transfer. An email with the complete receipt information will also be sent to you.

Once the Money Transfer has been reviewed and submitted by you, Transfer Rapid will send the money to the designated Recipient.

You are responsible for contacting the Beneficiary to inform him/her when the money can be picked up and the unique transaction identification number ("UTI").

Cash pick up for the "Online Transfer for Cash Pick Up" transactions can be done by the Recipient, subject to EU regulations, at any one of 1200+ locations of Transfer Rapid Paying Agent in Romania – CEC Bank during business hours.

For more information on the location and business hours for each of the 1200+ branches of CEC Bank, please visit their website at www.cec.ro/retea/retea-unitati; you must select the county of interest in the search field to obtain a list of all CEC Bank locations in that particular county, along with phone numbers, address, and hours of operation.

If you complete the Money Transfer as the "Online Transfer for Cash Pick Up" during CEC Bank business hours, the amount of the Money Transfer will be available within 15 minutes. If you complete the Money Transfer after 16:00 Romania time (GMT +2), the amount of the Money Transfer will be available for pick up the next business day during the hours of operation of the Paying Agent's branch location.

In order to pick up the money, the Beneficiary must provide to the CEC Bank teller all of the details about the Money Transfer required by Transfer Rapid, including your name (Sender), country of the origin of the money transfer, full name of the Recipient, along with proof of his/her identity using the Romanian identity document which indicates the CNP (Romanian personal numeric code) and includes his/her photo, the transfer amount, and the UTI given to you after completion of the Money Transfer.

We will send the Money Transfer amount to the Recipient's account specified on the Money Transfer request.

You may request a Money Transfer to a Recipient's accounts that are held only in the European Economic Area (EEA). In that case the account provider, i.e. bank, will receive the Money Transfer amount by the end of the next business day after you complete the Money Transfer transaction.

If the account provider is in the EEA, and the Recipient's account is in an EEA currency, the account provider is required by law to make the funds available to the Beneficiary as soon as they are received; this implies that in most cases, the Beneficiary will receive the funds into his/her account by the end of the business day following the completion of your Money Transfer transaction.

If you complete the Money Transfer for "Online Transfer to Bank Account" transaction during a non-business day, or after 16:00 Romania time (GMAT +2) on a business day, we will process your request as having been completed and received the following business day (and the time frame mentioned above will apply from that point onward).

If you request us to process a Money Transfer for an "Online Transfer for Cash Pick Up" transaction, and the transfer amount has not been picked up within 90 days, the Money Transfer becomes an "Expired Transfer," and we are no longer mandated to process it.

If an Expired Transfer occurs, we will contact you based on the information provided during the registration process, so that we can arrange for a refund of the amount of the Expired Transfer. You are responsible for ensuring that your contact information (phone number and email address) is correct and current. If you become aware that a money transfer has not been retrieved, please contact us for a refund. Our contact details are indicated below, on the Transfer Rapid portal, our website, and in our email communication with you.

The transactions fees for a Money Transfer are shown online on the money transfer transactions web page. Once you select the type of transfer that the Beneficiary will be expected to use to pick up the funds, the currency sent or received, the amount to be transferred or amount received, the transaction fee will be automatically displayed. Transfer Rapid provides the Sender all of the information pertaining to the applicable charges prior to finalizing the money transfer.

The Transaction Fee is a fixed fee that is calculated at every 100-increment increase. Any Transaction Fee modification will be made by giving a 2-month notice period. The Transaction Fee is provided to you, the Sender, prior to your deciding to submit the Money Transfer transaction. There are no hidden fees to you, the Sender, or to the Recipient.

If you complete a money transfer using a different currency other than the ones indicated above, or you wish to send money to a country other than Romania, we will charge you a transaction fee for international payments, in other words SWIFT charges will be applied. We will always notify you on our application about this type of charges prior to your completing the money transfer.

As part of this international funds transfer, other financial institutions may provide services that enable the transfer from one bank to another, and the amount transferred, or received will reflect the applicable charges. Thus, the amount transferred will be less than what you, or the Beneficiary would expect.

Every time you use the Money Transfer Service, the exchange rate and the transaction fee we charge for the use of the Service will be provided prior to the completion of the transaction.

The total amount (Transaction Amount, Service Fee, other taxes, and other applicable fees) that you must pay, along with the relevant exchange rate will be clearly indicated on our website, as well as on the application itself prior to confirming the Transaction, and from that point onward, the transaction becomes optional.

Please note that, there are limits with regard to the amount of money and currency that you wish to transfer. The currency selected, the exchange rate that you accept, and the transfer amount will be stated on the online form and transaction summary.

Legal Obligation:

We are under no obligation to you to initiate or perform a money transfer, or any other transaction as part of the service if:

(a) we cannot obtain a satisfactory proof of your identity;

(b) we have reason to believe that the information provided by you is incorrect, unauthorized, or false;

(c) you provide us incorrect or incomplete information.

In addition, Transfer Rapid is not responsible for any transaction fee applied by the Recipient's bank as a result of receiving the funds in his/her bank account. You must contact the Recipient's bank directly for any information regarding such transaction fees. In certain cases, there may be transaction fees applied by intermediary banks. In this type of circumstances, Transfer Rapid can refuse to cover these costs. Transfer Rapid is not responsible to cover the taxes that are required by the Recipient's bank.

The Exchange Rate (if applicable) will be provided to you in advance, as Sender of the Money Transfer so that you may have complete information prior to using our service.

Subject to your confirmation, the Money Transfers for "Online Transfer for Cash Pick Up" transactions can be paid to Beneficiaries in one of the two target currencies, and you have the option of selecting between: the Romanian currency (RON) or Euro currency (EUR). If your source currency is not one of these three currencies, RON, EUR, or GBP, or if your Source Currency is in EUR, and you wish to convert it into RON, then, you will need to apply Transfer Rapid's Exchange Rate in order to access the money transfer for "Online Transfer for Cash Pick Up" from the Transfer Rapid portal. All currency is converted at Transfer Rapid's current rate of exchange, and provided to you prior to your completing the money transfer.

Transfer Rapid calculates its rate of exchange based on commercially available interbank rates, along with an added cost. Most exchange rates are adjusted several times a day in line with relevant closing rates of the global financial markets. The exchange rate for a particular money transfer is indicated to you at www.transferrapid.com. You are not committed in any way to use our service unless you are fully informed regarding the Transaction Fee, and the applicable Exchange Rate.

The currency will be converted once you confirm the transaction, and, accordingly, the Beneficiary will receive the currency amount shown to you prior to you confirming the money transfer request.

Our Paying Agent in Romania, CEC Bank, will provide the money for the "Online Transfer for Cash Pick Up" transactions, during its business hours, in the currency indicated in the Money Transfer instructions submitted by the Sender to Transfer Rapid. If a Beneficiary wants the payment of the Money transfer in a currency other than that of the payment, the Beneficiary and Paying Agent must enter into a direct, and separate foreign exchange transaction, subsequent to the Money transfer transaction, in order to convert the payment currency into the Recipient's preferred currency ("exchange transaction").

Additional information about exchange rates for specific destination countries can be obtained by calling the toll-free telephone number listed below or on the Transfer Rapid Portal.

The Sender has the right to request the cancellation of an "Online Transfer for Cash Pick Up" request 14 days after the transaction has been submitted to Transfer Rapid, unless the Money Transfer amount was not already paid to the Recipient. You will not be able to cancel an " Online to Account Money Transfer" request once the transaction has been submitted via the Transfer Rapid Portal.

The cancellation request must be made by the Sender on the Transfer Rapid Portal, or by sending an e-mail along with the receipt confirming the details of the Money Transfer. If you will be allowed to cancel the Money Transfer, Transfer Rapid will reimburse you the amount of the Money Transfer originally charged on your card, minus the Transaction Fee subtracted accordingly.

The service is intended for use by users who are 18 years of age or older.

After the transaction is concluded, we will provide the Sender electronically and by e-mail with the receipt indicating the information of the Money Transfer, including the unique transaction identification number (UTI), if the Sender has registered an email address on the Transfer Rapid Portal.

The receipt will indicate the following information: Recipient's first and last name, UTI, Amount Sent, Transaction Fee, Amount to be received by Recipient, Exchange Rate (if applicable), and the total amount that was charged on your credit/debit card. We will also inform that only the person specified as the Beneficiary in the Money Transfer request may collect the money.

Prior to creating an account on www.transferrapid.com, you will be asked to provide a password, and a valid e-mail address as your username. The password and the username must not be used by any person other than yourself. It is your responsibility to keep your password and your username safe.

YOU MUST NEVER SHARE YOUR PASSWORD WITH ANYBODY, AND DO NOT WRITE IT DOWN ANYWHERE!

If you know or suspect that your password has been lost or stolen, or you suspect that the security of your account registered on the Transfer Rapid Portal has been in any way compromised, or that there has been a breach of security, you must immediately call us at +800.8000.5050 or 0800.800.609, or send an e-mail at contact@transferrapid.com

If we suspect or find fraud, or security threats in relation to your use of the Money Transfer service, unless notifying you would compromise our reasonable security measures, or otherwise be unlawful, we shall contact you to inform you about these circumstances using the most recent contact details that you have provided to us. We shall contact you in a manner that we believe is the fastest or best way of reaching you based on the given circumstances. You must ensure that your contact details are up to date.

If you notify us of the unauthorized use of your password or your username, or any other security issue in relation to your registered account, we will immediately take all the necessary steps to mitigate the risk of loss, including assisting you in changing your password and/or username. By us taking these measures does not render us liable for any loss or damage that are the result of your failure to fulfill your obligations in accordance with this paragraph.

We shall not be held liable by you for any Money Transfers completed through Transfer Rapid, if the card payment made to us was not authorized by you (for example, in case that your debit/credit card has been lost, stolen or misappropriated). If you become aware that your debit/credit card has been used without your consent in requesting a Money Transfer, you must let us know immediately so that we can attempt to cancel the order. You should also contact your bank for a refund for any unauthorized payments made using your card.

However, you might be entitled to a reimbursement, or credit for a certain amount from your Card Issuer if your debit/credit card, or your bank account were used in a fraudulent manner.

=YOU MUST NOT GIVE ANY INFORMATION REGARDING THE RETRIEVAL OF FUNDS (WHETHER OR NOT REVISED) TO ANYONE OTHER THAN THE DESIGNATED RECIPIENT.

You must do all that you reasonably can to ensure that no one, other than the Beneficiary specified in a particular Money Transfer request, can obtain the retrieval details or any part of them.

You must contact us immediately at +800.8000.5050 or 0800.800.609, or email us at contact@transferrapid.com if you become aware of any Money Transfer that has been paid to a person that is not the designated Recipient, or if a Money Transfer appears not to have been provided at all. We will investigate your claim, and if you are deemed eligible for a refund, we will refund you the amount of the Money Transfer that was incorrectly processed, provided that you notify us without undue delay, and in any event, no later than 13 months from the date that your bank account was debited.

For "Online Transfer for Cash Pick Up" transactions: if you, directly or indirectly, disclose any retrieval details to anyone other than your designated Recipient, then we will not be held liable if we provide the money to someone (other than the Recipient) who gives our Paying Agent the retrieval details, and provides what the agent reasonably believes to be valid proof of identification.

For "Online Transfer to Bank Account" transactions: if you provide us with the incorrect details of the Recipient's bank when submitting the Money Transfer request, we will not be held liable for processing the Money Transfer in accordance with your request, and you will not be deemed eligible to receive a refund. However, upon request we may attempt to recover the payment, and we may impose a resonable charge for such service. You will not be eligible for a refund if the funds are proven to have been received by the Recipient's bank.

In the event that a Money Transfer to a Beneficiary was not successfully processed due to causes attributable to Transfer Rapid, the Sender will be refunded the amount paid to Transfer Rapid, with the exception of when the Sender has acted fraudulently or with gross negligence, in which case Transfer Rapid will not be held liable to provide a refund.

Transfer Rapid will not be held liable for any incurred losses (whether direct or indirect) arising from:

1. any Money Transfer where you have acted fraudulently, or with intent or gross negligence have failed to maintain the security of the Beneficiary retrieval details, including but not limited to the UTI number, or your Transfer Rapid username or password;

2. any Money Transfer which we have carried out in accordance with your instructions;;
3. any Money Transfer which we have carried out in accordance with your instructions;
4. any Money Transfer which we processed in accordance with the information provided by you, and afterwards the information proves to be incorrect
5. any unusual or unforeseen circumstances outside of our control, and which certain consequences could not have been avoided despite all of our efforts to do so;
6. any malfunction of your cellular phone, computer, or any other equipment, software or services required for the successful processing of the Money Transfer, and over which we have no control;
7. our compliance, as necessary, with the applicable legal or regulatory requirements.

Additionally, we will not be held liable for the following:

1. business interruption;
2. any loss of profits, revenue, trade, reputation, time, goodwill, opportunity or anticipated savings;
3. any loss or damage whatsoever resulting directly from the breach of these Terms and Conditions.

We will use any reasonable efforts to provide you the Transfer Rapid Portal and Money Transfer services, however, we will not be held liable by you for any loss or damage arising if these are not available at any time, or if access is interrupted.

Nothing in these Terms and Conditions shall limit or exclude our liability for death or personal injury resulting from our negligence, fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by law.

It is possible that we may have to change these Terms and conditions as follows, so that we may:

1. be in accordance with the legislation and relevant regulations;
2. reflect any changes in market conditions;
3. comply with our company's requirements.

Transfer Rapid will notify you in writing, by emailing you and/or by posting an announcement on our website, or on the mobile application any changes to the Terms and Conditions, along with the date when these changes will take effect ("Effective Date").

Transfer Rapid will send you a 30-day notice prior to any changes to these Terms and Conditions. By continuing to use our Service after the Effective Date you agree to the revised Terms and Conditions.

The changes of the Terms and Conditions refer only to your usage of our services after the effective date, however, these changes also apply to any transactions, or any other utilization of our services initiated before the effective date, when required by law.

If you notice any errors or encounter problems on the Transfer Rapid Portal or with the Money Transfer service of Transfer Rapid, please contact us by email or by telephone at:

+800.8000.5050

Toll Free Telephone Number in United Kingdom, France, Spain, Italy and Germany

0800.800.609

Toll Free Telephone Number in Romania

+4021.320.9020

Toll Telephone Number for Other Countries

Email address: contact@transferrapid.com

If you have a complaint regarding Transfer Rapid or our Money Transfer service, please let us know by using one of the contact methods indicated above so we can investigate further. We endeavor to treat all complaints quickly and fairly, in accordance with our obligations under applicable law.

If we fail to resolve your complaint, you may refer the matter to the Financial Ombudsman Service located in UK. You can contact the Financial Ombudsman by telephone at 0300 123 9123 or 0800 023 4567 (in UK), and from other countries at +44 20 7964 0500, Monday to Friday, 8:00 AM to 8:00 PM, and on Saturday 9:00 AM to 1:00 PM; or by mail at Financial Ombudsman Service, Exchange Tower, London E14 9SR; or by email at complaint.info@financial-ombudsman.org.uk. The Financial Ombudsman Service is also available in different languages, and if you need such assistance, a translator can be provided when you contact the Financial Ombudsman Service.