legal matters

YuuWallet fully abide by the rules and guidelines of global regulatory landscape. YuuPay ensures the protection of merchants and clients using all the solutions under its portfolio.

I. INTRODUCTION

At YuuWallet, we take privacy seriously and only collect, record, hold, store, disclose, transfer and use your personal data as outlined below (“Privacy Policy”). YuuWallet is committed to complying with the Personal Data Protection Act 2012. If you have any comments, suggestions or complaints, please contact YuuWallet (and our Data Protection Officer) at dpo@YuuPay.com

If you wish to access, amend or remove any of your personal data in our possession, please refer to clause V for the required procedure.


II. COLLECTION OF PERSONAL DATA

A. YUUWALLET’S COLLECTION OF PERSONAL DATA

Personal data means data about you, where you can be identified from either that particular data, or from that data and other information which YuuWallet has or is likely to have access to. Personal data that YuuWallet commonly collects from you typically includes, amongst other things, your name, addresses, telephone (landline and mobile) numbers, e-mail addresses, identification numbers, nationality, date of birth and credit card information.

YuuWallet only collects personal data directly or indirectly from you, including but not limited to during or before you:

(1) sign up to receive information from YuuWallet;

(2) receive YuuWallet’s services;

(3) provide feedback to YuuWallet;

(4) access and/or utilise the website;

(5) participate in any YuuWallet related marketing activity.

You must only submit to YuuWallet information which is accurate and not misleading. Further, you must keep this information up to date and inform YuuWallet of changes. YuuWallet reserves the right to request for documentation to verify any information provided by you.

In addition to the personal data you provide to YuuWallet, YuuWallet may also collect certain of your information not considered to be personal data. Such non-personal data may include your IP address, browser-type, your interactions with the website and other types of non-personal data.

If you have granted YuuWallet the relevant permissions, YuuWallet may also receive your personal information from third party sources, including but not limited to information from commercially available sources (e.g. public databases and data aggregators). YuuWallet will manage such personal data in accordance with this Privacy Policy. For the avoidance of doubt, this Privacy Policy governs your entire period of use of the website, from your first access, until you validly require YuuWallet to remove your personal data in accordance with the terms set out below.


B. COLLECTION OF PERSONAL DATA BY OTHER WEBSITES

The website may use plug-ins from third party websites (each a “Third Party Site”). If you access a plug-in, your browser may establish a direct link to the servers of a Third Party Site, and information may be sent directly to or from your browser to or from such Third Party Site. Thereafter, if you are logged in on such Third Party Site when you browse the website, the Third Party Site may directly link your visit to the website. If you do not wish such Third Party Site to link information collected via the website to your account with such Third Party Site, please log out of such Third Party Site before visiting the website.


III. USE OF COOKIES

The term “cookies” used herein, refers to cookies and other similar technologies covered by the EU Directive on privacy in electronic communications.

What is a cookie? Cookies are small data files that your browser or application places on your computer or mobile device. Cookies assist your browser or application navigate a website. Cookies themselves cannot collect any information stored on your device.

YuuWallet uses cookies to reduce the number of times you need to enter your password. Cookies help YuuWallet provide to you with information targeted in accordance to your interests, and to make your browsing experience as smooth as possible. YuuWallet may offer features that are only available through the use of a cookie. Other types of cookies are used to monitor and improve our website’s functionality and performance. To protect your privacy, your browser only gives a website access to the cookies it has already sent to you.

Why does YuuWallet use cookies? YuuWallet continually strives to provide you with the best user experience possible when visiting its sites. Therefore, YuuWallet uses cookies to learn more about the way you interact with its content and help YuuWallet to improve your experience when visiting the website.

Cookies remember the type of browser you use and which additional browser software you have installed. They also remember your preferences, such as language and region, which remain as your default settings when you revisit the website. Cookies also allow you to rate pages and fill in comment forms.

Some of the cookies YuuWallet uses are session cookies and only last until you close your browser, others are persistent cookies which are stored on your computer or device for longer. Click here for more information on the cookies YuuWallet uses

How are third party cookies used? For some of the functions within the website, YuuWallet uses third party suppliers. You may wish to consult the policies of these third party websites for information regarding their use of cookies. Click here for more information on the third party cookies YuuWallet uses.

How do I reject and delete cookies? YuuWallet assumes your consent to YuuWallet ‘s use of cookies when you visit and use the website and most browsers are automatically set to accept cookies. You can modify your browser to decline cookies (if your browser permits you to do so), although in such a case you may not be able to access certain features on the website or some interactive features offered on the website may be restricted or rendered inoperable. Should you wish, you can reject or block the cookies set by YuuWallet or the websites of any third party suppliers by changing your browser settings – see the Help function within your browser for further details. Please Note: if you reject YuuWallet’s use of cookies you will still be able to visit its sites but some of the functions may not work correctly.

For details on how to delete or reject cookies and for further information on cookies generally, please visit www.allaboutcookies.org.


IV. USE AND DISCLOSURE OF PERSONAL DATA

A. USE AND DISCLOSURE

The personal information YuuWallet collects from you may be used, combined, or shared with third parties (including YuuWallet entities, and third parties), for some or all of the following purposes:

• to assist us in creating and publishing content relevant to you, and otherwise communicating with you;

• to send alerts announcing to you regarding special offers, updated information, and new services provided by YuuWallet and/or a YuuWallet entity;

• to ensure that the website is relevant to your needs;

• to provide, maintain, protect and improve the website;

• for information comparison, including but not limited to third party verification of the accuracy of information provide by you; and/or

• in exceptional circumstances, YuuWallet may be required to disclose your personal information. For instance when there are grounds to believe that the disclosure is necessary to prevent a threat to life, limb, liberty or health; for law enforcement purposes (including investigations, compliance with a court order or other regulatory requirements in any jurisdiction where YuuWallet operates); to prevent terrorism and/or money laundering, or for fulfilment of legal and regulatory requirements and requests.

In addition, for the aforementioned reasons, as well as to enforce the Terms of Use, YuuWallet may share your personal information with third parties and YuuWallet entities, and such parties may include YuuWallet’s advertising, marketing and promotional agencies to help us deliver and analyse the effectiveness of YuuWallet’s advertising campaigns and promotions; third parties required to deliver a product or service to you, such as a postal service; third party providers of services, such as data processing; or web analytics tool providers, such as Google.

Recipients of your personal data may be located outside Singapore. You agree that YuuWallet may transfer your personal data to YuuWallet entities and/or other third parties located outside of Singapore. YuuWallet will use reasonable endeavours to ensure that recipients of your personal data provide a standard of protection for your personal data comparable to the protection afforded under the Personal


V. AMENDMENTS TO PERSONAL DATA

If you wish to object to YuuWallet’s continued use and/or disclosure of your personal data for any reason, or if you otherwise wish to access, change, update or remove your personal data, you can do this by contacting YuuWallet at dpo@YuuPay.com. You may decline to receive e-mails by clicking on ‘unsubscribe’ in any marketing e-mail you receive.

Upon your request, YuuWallet will use commercially reasonable efforts to delete your data from YuuWallet’s records within 10 business days. Please note that some residual information may remain in its private records after deletion of your account. YuuWallet may use any aggregated data derived from or incorporating your personal data after you delete your account, but not in a manner that would identify you personally unless permitted by law.


VI. SECURITY OF YOUR PERSONAL DATA

YuuWallet ensures that all information collected will be safely and securely stored. YuuWallet’s security measures include but are not limited to the following:

(1) restricting access to personal data stored on YuuWallet’s systems;

(2) maintaining technology products to prevent unauthorised computer access; and

(3) securely destroying your personal data when it is no longer needed for any legal or business purpose.

No method of transmission over the internet or method of electronic storage is completely secure. While security cannot be guaranteed, YuuWallet strives to protect your personal data and is constantly reviewing and enhancing is security protocols to ensure that your personal data is not subject to unnecessary risks. If you believe that your privacy has been breached, please contact YuuWallet at dpo@YuuPay.com


VII. CHANGES TO THE PRIVACY POLICY

YuuWallet reserves the right to amend this Privacy Policy at any time. Any changes will be published on the website. YuuWallet encourages you to review this Privacy Policy periodically in order for you to stay notified of any changes.

Your continued use of the website after any changes to this Privacy Policy constitutes your consent to any such changes, to the extent such consent is not otherwise provided.


VIII. MISCELLANEOUS

YOU ACKNOWLEDGE AND AGREE THAT YUUWALLET HAS THE RIGHT TO DISCLOSE YOUR PERSONAL DATA TO ANY LEGAL, REGULATORY, GOVERNMENTAL, TAX, LAW ENFORCEMENT OR OTHER AUTHORITIES OR THE RELEVANT RIGHT OWNERS, IF YUUWALLET HAS GROUNDS TO BELIEVE THAT DISCLOSURE OF YOUR PERSONAL DATA IS NECESSARY FOR THE PURPOSE OF MEETING ANY OBLIGATIONS, REQUIREMENTS OR ARRANGEMENTS, WHETHER VOLUNTARY OR MANDATORY, AS A RESULT OF COOPERATING WITH AN ORDER, AN INVESTIGATION AND/OR A REQUEST OF ANY NATURE BY SUCH PARTIES. TO THE EXTENT PERMISSIBLE BY APPLICABLE LAW, YOU AGREE NOT TO TAKE ANY ACTION AND/OR WAIVE YOUR RIGHTS TO TAKE ANY ACTION AGAINST YUUWALLET FOR DISCLOSING YOUR PERSONAL DATA IN THESE CIRCUMSTANCES.

This Privacy Policy is governed by and shall be construed in accordance with Singapore law including without limitation the provisions of the Evidence Act (Chapter 97), Electronic Transactions Act (Cap. 88) and the PDPA, without giving effect to any principles of conflicts of law. You agree to submit to the exclusive jurisdiction of the Singapore courts.


CONTACTING YUUWALLET

If you wish to withdraw your consent to YuuWallet’s use of your personal data, request access and/or correction of your personal information, have any queries, comments or concerns, or require any help on technical or cookie-related matters, please feel free to contact YuuWallet (and its Data Protection Officer) at dpo@YuuPay.com

1. Scope of these Terms of Use

1.1. These Terms of Use govern the opening, use and closure of your Yuuwallet Account and other related payment services as referred to herein. Together with our Privacy Policy, and any other terms and conditions referred to therein, will constitute the legal relationship between you and us. For the use of additional services, you may have to accept additional terms and conditions as notified to you when you are using such services. You are advised to print or download and keep a copy of these Terms of Use for future reference. Alternatively, you can view the current Terms of Use on our Website.

1.2. Depending on the type of Yuuwallet Account you have, additional terms and conditions may apply as communicated to you at the appropriate time.

1.3. You are also advised to read the answers to the “Frequently Asked Questions” which are published on our Website.


2. Your Yuuwallet Account

2.1. Your Yuuwallet Account is an electronic money account which enables you to send and receive electronic payments.

2.2. Your Yuuwallet Account is denominated in a currency of your choice, as selected by you from the available currencies. However, you cannot change the currency of your Yuuwallet Account upon your attempt to process a payment.

2.3. The electronic money held on your Yuuwallet Account does not expire but it will not earn any interest.

2.4. You can withdraw funds from your Yuuwallet Account at any time. However, you may be required to confirm your identity beforehand. There is no minimum withdrawal amount but the funds in your Yuuwallet Account must be sufficient to cover any applicable withdrawal fee. Method of withdrawal can be selected when you submit your withdrawal request.

2.5. Electronic money accounts are not bank accounts. By accepting these Terms of Use you acknowledge that the Deposit Insurance Scheme does not apply to your Yuuwallet Account. In the unlikely event that we become insolvent, you may lose the electronic money held in your Yuuwallet Account.

2.6. The electronic money on a Yuuwallet Account belongs to the person or legal entity which is registered as the Yuuwallet Account holder. No person other than you have any rights in relation to the funds held in a Yuuwallet Account, except in cases of succession. You may not assign or transfer your Yuuwallet Account to a third party or grant any third party a legal or equitable interest over it.

2.7. Your Yuuwallet Account may be subjected to upload, payment and withdrawal limits, depending on your country of residence, the verification status of your Yuuwallet Account and other factors used by us to determine such limits from time to time.


3. Opening Your Yuuwallet Account

3.1. You must first open a Yuuwallet Account by registering your details on our Website in order to use our payment services. You will need to accept these Terms of Use and our Privacy Policy and you must have legal capacity to accept the same as part of the signup process. You may be required to accept additional terms and conditions If you require additional services.

3.2. If you are an individual, you must be 18 years or older to use our services and by opening a Yuuwallet Account, you declare that you are 18 years or older. This does not apply to products for which we set a different age limit. We may require that you provide evidence of your age at any time.

3.3. You may only open one Yuuwallet Account unless we explicitly approve the opening of additional accounts.

3.4. You can only open a Yuuwallet Account if it is legal to do so in your country of residence. By opening a Yuuwallet Account, you represent and warrant to us that your opening of a Yuuwallet Account does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of this section.

3.5. All information you provide during the signup process or any time thereafter must be accurate and truthful.

3.6. You may only add payment instruments (such as bank accounts, credit cards or debit cards) to your Yuuwallet Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt of such as a fraudulent act.

3.7. During signup you will be asked whether you intend to use your Yuuwallet Account for private or commercial purposes. If you have any intention to use your Yuuwallet Account for commercial purposes, you must inform us, even if you use it also for private purposes. If you have stated that you will use your Yuuwallet Account for private purposes only, you must inform us immediately, at any point in the future before you use it for commercial purposes. You are using your Yuuwallet Account for commercial purposes if you are receiving payments for or in connection with any business activity. We reserve the right to determine whether, in our reasonable opinion, you are using your Yuuwallet Account for commercial purposes. If you are using your Yuuwallet Account for commercial purposes. In addition to these Terms of Use, you shall be bound by our Merchant Terms and Conditions.

3.8. Within 14 days of the date of opening your Yuuwallet Account, you may close your Yuuwallet Account at no cost by contacting us. However, if you have uploaded funds into your Yuuwallet Account, you may be required to provide identification documents before you are able to withdraw funds. Transactions and fees for transactions undertaken before you close your Yuuwallet Account (including those transactions that are irrevocable and have been initiated but not completed before closure of your Yuuwallet Account) will not be refunded.


4. Yuuwallet Account Maintenance

4.1. You must ensure that the information recorded on your Yuuwallet Account is always accurate and updated. We shall not be liable for any loss arising out of your failure to do so. We may ask you to confirm the accuracy of your information or to provide documents or other evidence at any time.

4.2. We may contact you via e-mail or in other ways described in section 18 with information or notices regarding your Yuuwallet Account. It is your responsibility to regularly check the proper functioning of your e-mail account or other methods of communication that you have registered with your Yuuwallet Account and to retrieve and read messages relating to your Yuuwallet Account promptly. We shall not be liable for any loss arising out of your failure to do so.

4.3. Fund uploads, payments received, payments sent and fund withdrawals are displayed in your online transactions history together with the fees charged. Each transaction is given a unique transaction ID and shown in the transaction history. You should quote this transaction ID when communicating with us about a particular transaction. You should report any irregularities or clarify any questions you have as soon as possible by contacting us.


5. Keeping Your Account Safe

5.1. You must take all reasonable steps to keep your Yuuwallet Account password safe at all times and never disclose it to anyone. Our personnel will never ask you to provide your password to us or to a third party. Any message you receive or website you visit that prompts for your password, other than the Yuuwallet Website or a Yuuwallet payment gateway on a merchant website, should be reported to us. If you are in doubt whether a website is genuine, you should contact us. It is advisable to change your password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to your Yuuwallet Account. It is advisable not to choose a password that is easily guessed from information someone might know or gather about you. You must never allow anyone to access your Yuuwallet Account or watch you accessing your Yuuwallet Account.

5.2. If you have any indication or suspicion of your Yuuwallet Account, login details, password or any other security features being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you are advised to change your password. You must contact us without delay on becoming aware of any loss, theft, misappropriation or unauthorised use of your Yuuwallet Account, login details, password or other security features. Any undue delay in notifying us may not only affect the security of your Yuuwallet Account but may result in you being liable for any losses. If you suspect that your Yuuwallet Account was accessed by someone else, you should also contact the police and report the incident.

5.3. We may suspend your Yuuwallet Account or otherwise restrict its functionality on reasonable grounds relating to the security of the Yuuwallet Account or any of its security features or if we reasonably suspect that an unauthorised or fraudulent use of your Yuuwallet Account has occurred or that any of its security features have been compromised. We will notify you of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.

5.4. You must take all reasonable care to ensure that your e-mail account(s) are secure and only accessed by you, as your e-mail address may be used to reset passwords or to communicate with you about the security of your Yuuwallet Account. In case any of the e-mail addresses registered with your Yuuwallet Accounts are compromised, you should without undue delay after becoming aware of this contact us and also contact your e-mail service provider.

5.5. Irrespective of whether you are using a public, a shared or your own computer to access your Yuuwallet Account, you must always ensure that your login details are not stored by the browser or cached or otherwise recorded. You should never use any functionality that allows login details or passwords to be stored by the computer you are using.


6. Closing Your Account

6.1. You may close your Yuuwallet Account at any time by contacting us.

6.2. If your Yuuwallet Account holds a balance at the time of its closure, we will ask you to withdraw your funds within a reasonable period of time, during which your Yuuwallet Account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period you will not be able to access your Yuuwallet Account but you may withdraw any remaining funds by contacting us and requesting that the funds are sent to you in a manner that is reasonably acceptable for us. You may do so for a period of 1 year from the date of closure of your Yuuwallet Account but we suggest that you withdraw your remaining funds as soon as possible as they will not earn any interest while being deposited in your Yuuwallet Account.

6.3. We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorising any withdrawal of your funds, including in relation to returning any funds to you after you have closed your Yuuwallet Account.


7.  Funds Upload

7.1. You can upload funds by visiting the Website, logging into your Yuuwallet Account and following the relevant upload instructions. You may be presented with a number of different upload methods, depending on which payment instruments you have added to your Yuuwallet Account and which payment methods are available in your country of residence. Upload methods are payment services provided by third party financial institutions (for example, the issuer of the payment card you use to upload funds or third party direct banking service providers) and are not part of our service. We do not guarantee the use of any particular upload method made available, and may make changes to or discontinue the acceptance of any particular upload method at any time. Notwithstanding section 7.7 below, we shall not be responsible for the upload payment until the uploaded funds are received by us.

7.2. You may be asked to answer security questions or to complete other activities that we may reasonably require to ensure proper authorisation of an upload transaction.

7.3. If you choose an upload method using a payment instrument that may be subject to chargeback rights such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such chargeback right other than for unauthorised use of the payment instrument or for a breach by us of these Terms of Use which would result in you having a right to a refund of the uploaded amount. Otherwise, you may not charge back any upload transaction or allow a chargeback of any upload transaction for reasons for which we are not responsible including (but not limited to) disputes with merchants for non-delivery of goods or services or insufficient balance on the payment instrument account. We reserve the right to charge you fees and expenses we incur in connection with such chargeback and any action undertaken to challenge the same. We may also charge you a chargebacks fee.

7.4. You may allow a merchant that you wish to pay through us on a regular basis (e.g. for a subscription service) to debit your Yuuwallet Account for each recurring payment. In this case you authorise us to debit the payment instrument (e.g. your credit card or bank account) which you used to make the original payment also for each subsequent payment. In order to cancel recurring payments for the future, you should (a) contact us and (b) notify the merchant from which you have purchased the goods or services that you have cancelled the recurring payment. You should not cancel or otherwise reverse such recurring transactions by simply contacting the issuer of the payment instrument (e.g. your credit card provider or bank) without following the cancellation steps mentioned in this section 7.4. Subject to section 7.5, we will not be liable for any recurring payment(s) that are made before you have notified us of the cancellation and if your Yuuwallet Account balance goes into negative as a result of such payment(s), you will be liable to repay such amount to us.

7.5. We will refund any past recurring payment(s) initiated by or through the merchant provided that (a) the original authorisation given to us or the merchant did not specify the exact amount of the payment and (b) the amount of the payment exceeded the amount that you could reasonably have expected taking into account your previous spending pattern and the circumstances of the case. You must request such a refund within 2 weeks from the date the funds were debited from your Yuuwallet Account. You agree to provide us with such information as is reasonably necessary to ascertain whether the conditions for a refund described in this section 7.5 are satisfied. Within 14 Business Days of receiving a request for a refund or, where applicable, of receiving any further information we requested from you, we will either refund the full amount of the payment or provide you with justification for refusing to refund the payment.

7.6. If a chargeback or reversal of an upload transaction results in a negative balance in your Yuuwallet Account, you will be required to repay such negative balance by uploading sufficient funds into your Yuuwallet Account. Failure to do so is a breach of the Terms of Use. Repayment of the negative balance is due immediately without notice. We reserve the right, to send you reminders or to take other debt collection measures at any time, including but not limited to mandating a debt collection agency or solicitors or to pursue the claim in court. The expenses we reasonably incur in connection with any debt collection or enforcement efforts may be charged to you.

7.7. Uploaded funds will be credited to your Yuuwallet Account after the funds have been received by us. Some upload transactions, such as those by credit or debit card, direct debit or direct banking will be credited to your Yuuwallet Account immediately, but are subject to reversal in cases where the actual funds do not reach us within a reasonable time. In such cases, we will deduct such reversed transaction from the balance of your Yuuwallet Account. If your Yuuwallet Account balance is insufficient, we reserve the right to require repayment from you.

7.8. You must not make an upload through a payment instrument if you are not the named holder of that payment instrument. Any violation of this requirement is very serious and we will treat any of such attempt as a fraudulent act. Without prejudice to claiming further damages, if we are required to return funds uploaded from a payment instrument that is not in your name, we may charge an administration fee per upload return.

7.9. Uploads may be subject to upload limits due to security and legal requirements. These limits are set dynamically depending on your verification status and the upload method you want to use. You should be aware that depending on your verification status your upload limits may be higher than your withdrawal or spending limits.

7.10. For the purposes of an upload transaction through a payment instrument, we are a payment recipient and not a payment service provider. Uploads are subject to upload fees and currency conversion fees depending on which upload method and payment instrument is chosen. Please see section 12 for details.


8. Sending Payments

8.1. To send a payment you are required to authorise the payment with your login details and password. We may also ask you additional security questions relating to you or your Yuuwallet Account.

8.2. Every recipient of a payment you wish to send through us must have a valid mean that we can use for their identification. For most of our services that mean of identification will be a valid e-mail address but other means of identification may be required for our other services

8.3. If you are requested to provide details of the recipient’s e-mail address or other means of identification, where applicable, you must ensure accurately the exact details of who you wish to send money to. We use those details as the unique identifier to determine the intended recipient of the payment which you instruct us to process. Other information you provide along with the recipient’s means of identification may be disregarded and we shall not be liable for any error you make when entering the recipient’s means of identification.

8.4. If the e-mail address of the intended recipient is registered with us, the funds will be instantly credited to the Yuuwallet Account associated with that e-mail address. Once funds are credited to the recipient’s Yuuwallet Account, the transaction becomes irreversible.

8.5. If the recipient’s e-mail address is not registered with us, we will send a notification e-mail to that e-mail address with instructions on how to claim and receive the payment. If the recipient does not claim the payment within 14 days, the transaction will be cancelled and the funds will be returned to you. You may also cancel the transaction at any time before the funds have been credited to the recipient’s Yuuwallet Account. To cancel a transaction, you should log into your Yuuwallet Account, locate the relevant transaction in your transactions history and select “Cancel”.

8.6. You can make recurring payments by setting up a recurring payment order on your Yuuwallet Account. You can cancel your recurring payment order for future payments at any point by logging into your Yuuwallet Account and deleting it. You will not be able to cancel transactions that have already been credited to the recipient.

8.7. Payments are subject to payment limits due to security and legal requirements. These limits are set dynamically depending on your verification status. You should ensure that your limits are sufficient to cover the payment you intend to make as well as any applicable fees including service fees and currency conversion fees. You should be aware that the recipient of a payment may also be subject to spending and withdrawal limits and that this may affect the recipient’s access to the funds you intend to send.

8.8. Sending payments is subject to fees and currency conversion fees depending on the type of payment you make and the type of Yuuwallet Account you hold.


9. Receiving Funds

9.1. If you receive funds into your Yuuwallet Account, we will send you a notification e-mail and display the payment as a “Receive Money” transaction in your transactions history.

9.2. The receipt of funds to your Yuuwallet Account does not necessarily mean that these transactions cannot be reversed. We reserve the right to reverse a payment in case the payer or the payer’s bank or payment service provider has charged back or otherwise reversed an upload or other payment which was used to fund the payment to you.

9.3. If a person received a payment notification from us indicating that someone has sent them funds to an e-mail address that is not registered, they will not be credited with the payment until it has been claimed in accordance with the instructions laid out in the notification e-mail. Until then, there will be no contractual or fiduciary relationship between us and the intended recipient. The funds remain those of the sender.

9.4. You can request a payment from someone by using the “Receive Money” service within your Yuuwallet Account. You must only use this service for undisputed amounts that a person owes you and that are due for payment in full. You may not use this service more than once for the same payment you request. This service may not be used as a debt collection or enforcement tool. If the person that owes you the payment asks you not to use Yuuwallet “Receive Money” service to request payment from them, you must comply with this request regardless of the merits of your claim. When using this service, you must ensure that you have the right to contact the person you are claiming from. You are strictly prohibited from requesting money by using the “Request Money” service within your Yuuwallet Account from someone that does not owe you the amount requested; would be ineligible to open a Yuuwallet Account (for example, minors); or has not given or has withdrawn his or her consent to receive a request for payment via the “Request Money” service and we shall have the right to claim any damages or losses arising out of your breach of this section.

9.5. The receipt of payments is subject to fees and currency fees, depending on the type of payment you receive and the type of Yuuwallet Account you have.


10. Prohibited Transactions

10.1. It is strictly forbidden to send or receive payments as consideration for the sale or supply of: tobacco products, prescription drugs, drug paraphernalia and weapons (including without limitation, knives, guns, firearms or ammunition) Satellite and cable TV descramblers pornography, adult material, material which incites violence, hatred, racism or that is considered obscene Government IDs and licences including replicas and novelty items and any counterfeit products. Unlicensed or illegal lotteries or gambling services (including without limitation the use of or participation in illegal gambling houses) Unregistered charity services Items which encourage or facilitate illegal activities Prepaid debit cards or other stored value cards that are not associated with a particular merchant and are not limited to purchases of particular products or services Third party processing or payment aggregation products or services Multi-level marketing, pyramid selling or Ponzi schemes, matrix programmes or other “get rich quick” schemes or high yield investment programmes Goods or services that infringe the intellectual property rights of a third party. Uncoded/miscoded gaming Timeshares or property reservation payments (On and Off Plan) We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories either to these Terms of Use or an acceptable use policy published on the Website.

10.2. It is strictly forbidden to make payments to or to receive payments from persons or entities offering illegal gambling services, including (but not limited to) illegal sports betting, casino games and poker games. We may suspend or terminate your Yuuwallet Account at any time or refuse to execute or reverse a transaction if we believe that you directly or indirectly use or have used your Yuuwallet Account for or in connection with illegal gambling transactions. Countries where online gambling is illegal include the United States of America, Turkey, China, Malaysia and Israel. This list is not exhaustive and it is your responsibility to ensure that you do not use our services for transactions that may be considered illegal in your jurisdiction.

10.3. You may not use our services if you are residing in any of the following countries: Afghanistan, Cuba, Iran, Myanmar, Nigeria, North Korea, North Sudan, Somalia, South Sudan, Syria or Yemen. This list is not exhaustive and we may in our sole discretion decide to discontinue or restrict our services in other countries at any time and without prior notice. We reserve the right to suspend or terminate your Yuuwallet Account at any time if we reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognised body for the prevention of financial crime.

10.4. It is strictly forbidden to use your Yuuwallet Account for any illegal purposes including but not limited to fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency. You are prohibited from using your Yuuwallet Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides.

10.5. You may only accept payments for certain categories of business after approval from us in our sole discretion. Such business categories include but are not limited to: money exchange or remittance businesses, including but not limited to bureaux de change, currency exchanges and purchase of travel money; the collection of any form of donations or payments to charitable or not-for-profit organisations; dealing in natural resources such as jewels, precious metals or stones; live streaming the sale or supply of alcoholic beverages; the sale of supply of dietary supplements and alternative health products; any other business category published in an acceptable use policy on the Website from time to time. In case you are in doubt whether your business falls under any of the above categories, you must contact us. We reserve the right in our sole discretion, to add business categories requiring approval by adding such categories either to these Terms of Use or an acceptable use policy published on the Website.

10.6. If you conduct or attempt to conduct any transaction in violation of the prohibitions contained in this section 10 or without the necessary approval under section 10.5, we reserve the right to: reverse the transaction; and/or close or suspend your Yuuwallet Account; and/or report the transaction to the relevant law enforcement agency; and/or claim damages from you; and charge you an administration fee of up in case we apply any of the above.

10.7. It is your and not our responsibility to ensure that you only send payments to or receive payments from persons or entities for the sale or supply of goods and services that you may provide or receive in compliance with any applicable laws and regulations. The fact that a person or entity accepts payments through us is not an indication of the legality of the supply or provision of their goods and services. If you are in doubt as to the legality of a supply or purchase, you should not proceed with your payment.


11. Withdrawing Funds

11.1. You can request a withdrawal of all or part of the funds held in your Yuuwallet Account at any time. To do this you must log into your Yuuwallet Account and select a withdrawal method and enter the amount to be withdrawn. Withdrawal methods are payment services provided, at least in part, by third party financial institutions. We do not guarantee the availability of any particular withdrawal method and may make changes to or discontinue a particular withdrawal method at any time as long as there is at least one withdrawal method available to you. Where the withdrawal payment is received by you through the involvement of a payment service provider (such as the bank where you hold a bank account), we shall not be responsible for the withdrawal payment once the withdrawn funds are received by your payment service provider.

11.2. Your Yuuwallet Account is subject to withdrawal limits. These limits are adjusted dynamically depending on the type of identification documentation we hold on you. Before uploading any funds into your Yuuwallet Account, you must ensure that your current withdrawal and spending limits meet your withdrawal and spending requirements as we legally cannot allow you to exceed these limits.

11.3. If your withdrawal request exceeds the current limit, we may decline your request and instead require you to send us documents verifying your identity and address prior to allowing a withdrawal of funds or to otherwise cooperate with us to verify your identity.

11.4. Withdrawals are subject to withdrawal fees and currency conversion fees depending on which withdrawal method and payment instrument is chosen.  

11.5. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.

11.6. You must not make a withdrawal to a bank account or another payment instrument if you are not the named holder. Any violation of this requirement is taken very seriously and we will treat any such attempt as a fraudulent act. Without prejudice to claiming further damages, if we are required to investigate a withdrawal to a payment instrument that is not in your name, we may charge an administration fee.

11.7. It is your responsibility to ensure that the payment details you enter when withdrawing funds are correct and complete. We will not be liable for withdrawn funds being sent to the wrong payment instrument where this is due to you providing incorrect payment details. When withdrawing to a bank account, you must ensure that the account number, sort code, IBAN and/or BIC/SWIFT are correct. If you have withdrawn funds to the wrong payment instrument, you may request that we assist you in reclaiming the funds, however, we will charge you an administration fee for doing so and we cannot guarantee that the reclaim efforts will be successful.


12. Fees

12.1. Fees depend on whether you are using your Yuuwallet Account for personal or commercial purposes.

12.2. Your transactions may be subject to currency conversions. If you make a payment from your Yuuwallet Account denominated in one currency to a Yuuwallet Account denominated in another currency, you will be asked to either make the payment in the currency of your Yuuwallet Account or in another currency. If you select the currency of your Yuuwallet Account, then the recipient will pay the fee for the conversion into the currency of his or her Yuuwallet Account. If you select the currency of the recipient’s Yuuwallet Account, you will pay the fee for the currency conversion into the currency of the payment. If you select a currency that is neither the currency of your Yuuwallet Account nor the currency of the recipient’s Yuuwallet Account then you will pay the fee for the conversion into the currency of the payment, and the recipient will pay the fee for the conversion of the payment currency into the currency of his or her Yuuwallet Account.

12.3. For every currency conversion, we will apply our then current wholesale exchange rates which are updated on a regular basis throughout the day. Changes in these exchange rates may be applied immediately and without notice. In addition, we will apply a foreign exchange fee, expressed as a percentage applicable in addition to the transaction fee.

12.4. Our Fees are either expressed as a percentage of the transaction or as a fixed amount in EUR. Where fixed fee amounts are displayed in a currency other than EUR, this is for information purposes only. If fees are deducted from a balance or a transaction denominated in a different currency, the EUR fee amount will be converted into an equivalent fee in that other currency based on the Yuuwallet wholesale exchange rates applicable at the time. We will not apply a foreign exchange fee on currency conversions of fees.

12.5. Fees payable by you will be deducted from your Yuuwallet Account balance and you hereby authorise us to do the same. Transaction fees will be charged upon execution of the transaction. If your Yuuwallet Account balance is insufficient to cover the fees, we may refuse to execute the payment. Reversal or chargeback fees will be deducted when incurred.

12.6. If the deduction of fees results in a negative Yuuwallet Account balance, you will be required to repay such negative balance by uploading sufficient funds into your Yuuwallet Account. Failure to do so is a breach of these Terms of Use. Repayment of the negative balance is due immediately without notice. We reserve the right to send you reminders at any time that you need to upload funds or to take other debt collection measures including but not limited to engaging a debt collection agency or solicitors or to pursue the claim in court. Any expenses we have reasonably incurred in connection with any debt collection or enforcement efforts will be charged to you.


13. Your Data

13.1. The processing of your data is governed by our Privacy Policy which can be found on our Website. By accepting these Terms of Use, you also agree to the terms of our Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms of Use.

13.2. You will receive e-mail newsletters that will inform you about new product features, events, promotions, etc. By accepting these Terms of Use, you agree to receive such e-mail newsletters on a regular basis. If you do not wish to receive any newsletters from us, you can opt out at any time by logging into your Yuuwallet Account and changing the appropriate setting in your Yuuwallet Account profile. You can also opt out of receiving newsletters by contacting us. Any e-mail newsletter you receive will also give you the option to unsubscribe from any future newsletter.


14. Liability

14.1. In the case of an unauthorised payment or a payment that was incorrectly executed due to an error by us, we shall at your request refund the payment amount including all fees deducted immediately. This shall not apply:

14.1.1. where the unauthorised payment arises from your failure to keep the personalised security features of your Yuuwallet Account safe in which you shall remain liable for the first 100 USD (or equivalent in the currency of your Yuuwallet Account) unless section 14.1.3 applies;

14.1.2. if you fail to notify us without undue delay of any loss of your password or other event that could reasonably be expected to have compromised the security of your Yuuwallet Account after you have gained knowledge of such event, you shall remain liable for losses incurred up to your notification to us;

14.1.3. if the transaction was unauthorised but you have compromised the security of your Yuuwallet Account with intent or gross negligence, you shall be solely liable for all losses; or 14.1.4. if you fail to dispute and bring the unauthorised or incorrectly executed transaction to our attention within 1 months from the date of the transaction.

14.2. Section 14.1.1 shall not apply to transactions made after you have notified us in accordance with section 5.2 in which case we shall remain liable and refund any unauthorised transaction immediately to you.

14.3. In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.

14.4. We shall not be liable for any disruption or impairment of our service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control or the control of the intermediary affected.

14.5. We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.

14.6. Nothing in these Terms of Use shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.

14.7. We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and another Yuuwallet customer.

14.8. Our obligation under these Terms of Use is limited to providing you with an electronic money account and related payment services. We do not make any statement in relation to or endorsement of the quality, safety or legality of any goods or services provided by a Yuuwallet customer or intermediary.

14.9. You agree to defend, reimburse or compensate us and not hold us and our other companies in our corporate group from any claim, demand, expenses or costs (including legal fees, fines or penalties) that we incur or suffer due to or arising out of your or your agents' breach of these Terms of Use, breach of any applicable law or regulation and/or use of the services. This provision shall survive termination of the relationship between you and us.


15. Termination and suspension

15.1. We may terminate your Yuuwallet Account or any payment service associated with it by giving you 1 months prior notice. You may terminate your Yuuwallet Account with us at any time. Different termination provisions may apply for Yuuwallet Commercial Account as set out in section 3.7 above.

15.2. Together with a termination notice or at any time thereafter we may give you reasonable instructions on how to withdraw remaining funds.

15.3. If your Yuuwallet Account is subject to a reserve, termination of your Yuuwallet Account will not affect our right to hold the reserve and to make deductions therefrom for the time agreed.

15.4. We may at any time suspend or terminate your Yuuwallet Account without notice in case:

15.4.1. you breach any condition of these Terms of Use or any other condition applicable to specific services covered by separate terms and conditions;

15.4.2. you violate or we have reason to believe that you are in violation of any law or regulation that is applicable to your use of our services; or

15.4.3. we have reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.

15.5. We may suspend your Yuuwallet Account at any time if:

15.5.1. we reasonably believe that your Yuuwallet Account has been compromised or for other security reasons; or

15.5.2. we reasonably suspect your Yuuwallet Account to have been used or is being used without your authorisation or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify you.


16. Changes to these Terms of Use

16.1. These Terms of Use and any additional terms and conditions that may apply are subject to change. Changes will be implemented with prior notice from us under the procedure set forth in this section.

16.2. We shall give notice to you of any proposed change by sending an e-mail to the primary e-mail address registered with your Yuuwallet Account.

16.3. The proposed change shall come into effect 1 month after the date of the change notice, unless you have given us notice that you object to the proposed changes before the changes come into effect. Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.

16.4. If you object to the changes, they will not apply to you, however, any such objection shall constitute a notice by you to terminate and close your Yuuwallet Account. Your Yuuwallet Account will be closed in accordance with the provisions of section 6 above.


17. Complaints

17.1. Any complaints about us or the services we provide should be done in the first instance by contacting us. You should clearly indicate that you wish to lodge a complaint to us. This helps us to distinguish a complaint from a mere query. We send you a complaint acknowledgement by post or by e-mail of receiving your complaint in accordance with our complaints procedure.

17.2. We seek to provide you with an answer or resolution to your complaint within a reasonable timeframe. Should this not be possible due to unforeseen circumstances or lack of information, we will contact you.


18. How We Communicate

18.1. We usually communicate to you via e-mail. For this reason, you must maintain at least one valid e-mail address in your Yuuwallet Account profile at all times. You are required to check for incoming messages regularly. E-mails may contain links to further communication on our Website. Any communication or notice sent by e-mail will be deemed received by you on the same day if it is received in your e-mail inbox on a Business Day. If it is received in your email inbox on a Business Day or at any other time, it will be deemed received on the next Business Day.

18.2. We will never send you any e-mails with executable files attached or with links to any executable files. If you receive any e-mail with such attachments, you should delete the message without clicking on the attachment. If you are unsure whether a communication is originating from us, please contact us.

18.3. We will communicate to you in English and will always accept communications made to us in English. You can choose your preferred language from the list of supported languages in your Yuuwallet Account profile and we will send you automated e-mail notifications and communications regarding changes to these Terms of Use in your chosen language. For non-standard communication, we reserve the right to communicate with you in English. Documents or communications in any other languages are for convenience only and shall not constitute an obligation on us to conduct any further communication in that language.

18.4. Apart from communicating via e-mail, we may contact you via letter or telephone, where appropriate. If you use any mobile services, we may communicate with you via SMS. Any communication or notice sent by post will be deemed received three days from the date of posting for local post or within five days of posting for international post. Any communication or notice sent by SMS will be deemed received the same day.


19. Miscellaneous

19.1. Your Yuuwallet Account is personal to you and you may not assign any rights under the Terms of Use to any third party.

19.2. Your Yuuwallet Account is operated in and these Terms of Use shall be governed by and interpreted in accordance with the laws of Singapore. Any dispute under these Terms of Use or otherwise in connection with your Yuuwallet Account shall be brought exclusively in the courts of Singapore.

19.3. If any part of these Terms of Use is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of the Terms of Use, which shall continue to be valid and enforceable to the fullest extent permitted by law.


20. Definitions Various terms in these Terms of Use have a defined meaning as follows:

∙ “Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday in Singapore;

∙ “Fees” shall mean the charges payable by you to us for using our services;

∙ “Privacy Policy” is the Yuuwallet's policy governing the processing of personal data which is available on the Website, as may be amended from time to time;

∙ “Yuuwallet Account” shall mean the electronic money account you open and maintain through the Yuuwallet Website;

∙ “Yuuwallet Website” or “Website” shall mean the website available at www.yuuwallet.com;

∙ “Terms of Use”, shall mean these Yuuwallet Account Terms of Use, published on the Website and as may be amended from time;

∙ “We”, “us”, “our” shall mean Yuuwallet;

∙ “You”, “your” shall mean you, the natural person or legal entity in whose name the Yuuwallet Account is opened and maintained.


When you use YuuWallet either as a sender or receiver of funds, you are assured of complete Ecommerce & Consumer Protection. All of our users have YuuPay’s full commitment in adhering to the highest industry standards whereby YuuWallet guarantees that all funds, along with the information on each transfers are housed and managed under a safe and highly secure ecosystem.

Moreover, all our merchants undergo strict screening and KYC compliance procedure to ensure that only companies with reliable and responsible online operations are under YuuWallet’s roster giving everyone the confidence and peace of mind to shop and perform payments with our system.

YuuWallet in its entirety is highly committed to fully comply with international laws and regulations in relation to financial services, online payments and electronic wallets. The YuuWallet platform is equipped with layers of security to closely screen all transfers and transactions; ensuring that each activity has passed a strict compliance procedure and global standards in support to Anti-Money Laundering (AML) campaign worldwide.

There may be cases where further documentation will be required by YuuWallet from the sender or receiver for additional round of compliance checks. The whole YuuWallet operations is also governed and overseen by compliance and product managers for strict implementation of AML measures.

With YuuWallet, you are assured of a straightforward, transparent and competitive rate matrix to help you maximize sending and receiving money anywhere in the globe. We live up to our name of wallet with no boundaries.

Rates: Coming soon…