Terms and conditions

Excerpt from the terms and conditions for the purpose of contractual clarity.

1. Online currency exchange service available at https://moneyswapp.com ;
2. The service operates exclusively via bank transfers;
3. To use the exchange service without using the vIBAN (virtual IBAN assigned by the Company, see below), the Client must hold at least two accounts denominated in different currencies, chosen from: Swiss Francs, Euros, US Dollars, or British Pounds;
4. The free and customizable CHF IBAN service offered by Moneyswapp.com allows cross-border workers to receive their salary in francs without opening a bank account in Switzerland, automatically converting francs into euros to their linked current account, without additional service fees and subject to the applied exchange rate. Please see the details of the offer in the full Terms and Conditions of service and on the dedicated information page;
5. It is not possible to:
   1. Send money to third parties;
   2. Exchange money in cash;
   3. Make withdrawals or deposits at our office.
6. If the money to be exchanged arrives at the Company after 6:00 p.m., the appropriate order will be processed during the next business day;
7. The service is not instantaneous. The Company undertakes to execute the exchange operation in the shortest technically possible time and in any case within a maximum of 4 working days, starting from the day the order is processed pursuant to point 6;
8. The Company will not bear the cost of transfers charged to the customer by his bank;
9. The reserved and fixed exchange rate is valid until the expiration of the banking day following the day of the request;
10. Manual changes made or to be made to the exchange transaction will incur a fee of CHF 20.

1) Preamble

This agreement (hereinafter referred to as the “Contract”) governs the relationship between the user (hereinafter referred to as the “Client”) and the company ELP SA (hereinafter referred to as the “Company”) and applies to the use of the online currency exchange service offered through the websites moneyswapp and moneyswapp.com (hereinafter the “Service”). Prior to using the Service, the Client declares to have carefully read, understood, and accepted the Contract and all attachments and documents referred to therein. Any use of the Service by the Client shall constitute acceptance of the agreements. We invite the Client to save or print a copy of the Contract and all attachments and documents referred to therein. The Contract and all attachments and documents referred to therein constitute the entire agreement and replace any previous oral or written agreements, correspondence, agreements, or understandings between the Company and the Client.

2) Eligibility

To use the Service, one must be at least 18 years of age. The Service is reserved for individuals or legal entities residing in Switzerland or with demonstrable interest in the Swiss territory. The Client must declare in the appropriate online form that they are not acting on behalf of an undisclosed third party principal or on behalf of a third-party beneficiary.

3) Rejection of a Client

The Company reserves the right, at its discretion, to accept or reject any Client or any transaction. In the event of a Client’s rejection by the Company, the Client will be notified via email. Any funds sent by the Client to the Company will be returned to the originating account in the same amount and currency. In case the Company is unable to return the payment (e.g., if the provided bank coordinates are incorrect), the Company will immediately contact the Client using the most up-to-date contact information in its possession.

3.1) Prohibited Business Activities

The Company reserves the right to refuse any customer (natural or legal person) and/or any organization and/or individual whose business activities or practices are included or similar to those described below (for example, activities and/or practices considered prohibited, illegal, or may cause reputational, regulatory, financial, or operational damage to the Company).

The refusal of one or more Customers also includes the limitation of:

a) where customers can send money;

b) to whom I can send money;

c) from whom I can receive money.

The Company reserves the right to deny its services to any Customer who exceeds the internal risk tolerance threshold.

Business activities and/or practices that may lead to the refusal of a customer are all those business activities and/or practices that violate Swiss law or that:

• in any way violate local, national, or international laws or regulations or that cause the Company to violate any applicable laws or regulations;
• are illegal or fraudulent in any way or that have an illegal or fraudulent purpose or effect;
• aim to harm or attempt to harm persons, both adults and minors, in any way;
• are abusive, harmful, or not in line with the Service standards;
• generate any form of unsolicited or unauthorized advertising, promotional material, or any other form of spam;
• deal with malicious programs such as viruses, spyware, or similar computer codes designed to negatively impact the functioning of any computer software or hardware;
• may facilitate or encourage tax evasion and/or avoidance.

All lists, catalogues, examples, and references that follow are representative and not exhaustive.

The Company reserves the right to refuse to provide its services to any customer who engages in any of the following activities or practices:

Illegal products and services:

• illegal substances and/or substances designed to imitate illegal substances as well as equipment intended for the production or use of illegal substances under Swiss law;
• services for providing false identity documents and/or fake references;
• equipment for the illegal manipulation of telecommunications, including jamming devices;
• any activity or product or service that encourages, promotes, or celebrates violence against groups of people identified by race, religion, disability, gender, sexual orientation, national origin, or any other peculiar characteristic;
• sale of counterfeit goods;
• sale of goods illegally imported or exported;
• activities related to gambling that is not authorized or licensed by a government entity or gambling activities related to countries such as Turkey, the United States of America, or Canada;
• activities or products aimed at violating rights such as: intellectual property, copyright, patents, trademarks, trade secrets, and general property rights;
• illegal products and services or that do not meet the requirements and prescriptions of Swiss law.

Unaccepted financial and/or professional services:

• Provision of financial and/or money-related services without proper license or authorization;
• Services for the purchase, sale, exchange, trading, and transfer of cryptocurrencies;
• Investment and credit services (brokerage, mortgage consulting or debt reduction services, credit counseling or repair, real estate opportunities, lending instruments, crowdfunding) unless explicitly approved by the Company and regulated/authorized by the competent authority;
• Services related to so-called shadow banks;
• Platforms that enable the trading and/or exchange of financial instruments in an abusive manner;
• Any other financial service that operates without a license when one is required;
• Services that facilitate payments and/or financial services in which the parties involved are anonymous;
• Services related to binary options and factoring;
• Services that have the purpose of using the Company’s account or accounts as a guarantee or custody account.

The Company reserves the right to deny its services to any Customer who has ties to:

• Countries or territories included in the so-called black lists and grey lists, as identified and periodically updated by the FATF (Financial Action Task Force) at the following official link: FATF Black and Grey Lists.

  Specifically, these restrictions apply to:

  Black list (formally designated as “High-Risk Jurisdictions subject to a Call for Action”): Countries with serious strategic deficiencies to counter money laundering, terrorist financing, and financing of proliferation.
  Grey list (formally designated as “Jurisdictions under Increased Monitoring”): Countries that are actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing, and are therefore subject to increased monitoring.

  Customers are encouraged to consult the official source indicated above to check the constantly updated list of countries.

• one or more countries for which one of the following conditions applies:
  • it registers a score equal to or greater than 6.5 in the Basel AML Index: https://index.baselgovernance.org/ranking;
  • it registers a score equal to or less than 32 in the Corruption Perceptions Index: https://www.transparency.org/en/cpi/2020/index/nzl

4) Rejection of a Transaction

The Company will automatically reject payments from countries other than Switzerland or not belonging to the European Union (“EU”). The Company will automatically cancel exchange requests for which the Client requests a payment to a non-EEA (European Economic Area) country, with the exception of Switzerland or the United Kingdom. The Company will automatically reject payments to third parties. The Company will automatically cancel exchange requests for which the Client requests a payment to a bank account not in the Client’s name. For all the aforementioned cases, except for the rejection of a Client by the Company, the Company will apply a fee of 20 CHF or equivalent for administrative expenses. This fee will be deducted from the amount received from the Client.

5) Use of the Service

To use the Service, the Client must complete the online registration and exchange request form. The Client must provide truthful and accurate information and attach all required documentation for the counterparty identification process, commonly known as “Know Your Customer” (KYC). Even after registration, the Company reserves the right to request additional documentation from the Client for the proper provision of the Service and for the correct recordkeeping of each Client, as required by the terms of the Law. The Client will receive an email containing the details of the booked exchange transaction and the bank references to send the money to be exchanged. It is necessary to prepay the exchange, and it is the Client’s responsibility to send the funds to the Company promptly through a bank transfer. The payment order is considered complete only when the Company receives the funds sent by the Client. The Company will not be responsible for any losses or damages suffered by the Client due to a transaction or payment made according to the instructions given by the Client.

6) Exchange Rates and Fees

The Company constantly strives to offer the Client the best possible exchange rate. To this end, the Company relies on aggregated third-party information sources and sources liquidity on the Foreign Exchange (ForEx) markets, using exclusively leading institutional-grade counterparties.

The Company does not charge any additional fixed fee or charge for executing the exchange transaction, nor for receiving or sending funds to and from the Client’s accounts. The Company’s remuneration consists exclusively of an intermediation margin (the “spread”), i.e. the difference between the interbank rate obtained by the Company on the ForEx market and the final exchange rate offered to the Client. The applicable spread is indicated clearly and transparently, and is available to the Client at all times on the “Fees” page of the Company’s website, available at the following address: https://moneyswapp.com/fees/. The content of the “Fees” page, with reference to the spread applicable from time to time, forms an integral part of these general terms and conditions of service.

The Client reviews and selects the exchange rate (already inclusive of the spread) at which the transaction will be executed at the time of booking the transaction through the online form. Immediately after submitting the request form, the Client receives a summary confirmation by e-mail.

The exchange rate indicated will be fixed and binding between the Company and the Client (hereinafter the “Agreed Rate”) for a maximum period corresponding to the end of the banking business day following the day of the exchange request. For the purposes of calculating this period, the date shown in each Client’s personal account area, corresponding to the individual exchange request (in the “My Activities” section), shall be conclusive.

The Company will convert the sum received into the currency requested by the Client applying the Agreed Rate, provided that, as a peremptory condition, the funds reach the Company’s bank account by the end of the banking business day following the day of the exchange request.

Should the funds that the Client indicated the intention to exchange via the online form be credited to the Company’s bank account after the deadline specified above, the Agreed Rate shall lapse and no longer apply. In such event, the Company will execute the exchange applying the rate (inclusive of the relevant spread) available on the website at the exact moment the transaction is actually processed by the operator.

7) Requests for Automatic Currency Exchange or “Exchange on Receipt”

The Service allows the Customer to activate the “Exchange on Receipt” function, which operates as follows:

1. Required documentation:
   • The Customer must upload all required documentation, both mandatory and optional. This includes, for example, the documentation necessary to authorize exchanges exceeding 5,000 CHF.
2. Selection of preferred account:
   • The Customer must select a bank account from those saved in their Moneyswapp.com profile and define it as “preferred” or “default.”
3. Currency setup:
   • For the preferred bank account, the Customer must specify both the source currency and the destination currency.
4. Recurring bank transfer:
   • The Customer must set up a recurring bank transfer from their bank to the bank details provided by the Moneyswapp.com system.

Execution of the Exchange

Once the above steps are completed, any funds received in the specified source currency will be automatically exchanged into the predefined destination currency. The funds will then be transferred to the “preferred” account specified by the Customer.

The exchange rate applied will be the base rate available at the time the funds are registered to the Company’s account by an operator. It is not possible to lock in the exchange rate in advance.

Limitations and Responsibilities

• The Company is not responsible for any fees or commissions applied by banking intermediaries and reserves the right to charge the Customer for any third-party costs.
• Only one preferred destination account can be set for each currency available on the Service.

8) “Invite a Friend and Earn!” Function

The Company allows every private Customer to earn a reward by introducing acquaintances and friends to the Service through the sharing of a unique code (hereinafter referred to as the “Referral code” or “Unique code”), according to the following terms:

8-a) The promotion is activated for every Service Customer who is a natural person, hereinafter referred to as the “Inviter.” The Inviter can invite another natural person, hereinafter referred to as the “Invitee,” to register for the service using the Referral Code as a reference;

8-b) The sharing of the Referral code can be done through a web link, SMS, WhatsApp, or a numeric unique code to be entered in the designated field in the registration form, which can be found at the following link: https://dashboard.moneyswapp.com/registration/in_app;

8-c) For the purposes of the award of the prize, the Invitee shall, within 30 days from the date of receipt of the Referral code by the Referrer, complete at least one currency exchange in an amount (or also “Minimum Amount”) equal to or greater than CHF 3’000 or EUR 3’000 or USD 3’000. If this occurs, according to the Terms and Conditions of Service, then both Invitee and Inviter shall be entitled to a one-time prize of 25 CHF or 25 EUR or 25 USD. The date on which the Invitee’s exchange request goes into “completed” or “history” status shall be decisive;

8-d) The reward will be paid by the Company to the respective beneficiaries via bank transfer;

8-e) The currency of the reward will be the same as the destination currency of the last completed exchange operation in the Company’s systems by the Invitee and the Inviter, respectively;

8-f) For rewards, the Company will use the bank details associated with the most recent completed currency-exchange operation in the Company’s systems for both the Invitee and the Inviter. In the case of the first reward for a newly registered Invitee, the saved bank details in his or her customer profile on the Service portal will be used.

8-g) The Company reserves, at its sole discretion, the right to:

– deactivate the “Invite a Friend and Earn!” promotion at any time;

– modify the Minimum Amount and/or the amount of rewards without prior notice;

– cancel, delete, or not award rewards in case of irregularities in the use of the service by one or more Customers;

h) If the Company detects improper behavior on the part of Service Customers, or behavior contrary to the Terms and Conditions of the Service, it reserves the right to suspend and/or cancel any existing business relationship with said Customers, withhold any rewards, and request the return of any rewards already paid.

8-i) “Ambassador” Program (business cards with QR code)

The Company may, at its sole discretion, make available an “Ambassador” Program addressed to natural person Customers already registered for the Service, aimed at introducing new Customers through personalized business cards featuring a unique QR code (the “Ambassador QR Code”).

1. Access to the Program and promotional material
Access to the Ambassador Program is subject to completion of the relevant online application form and subsequent approval by the Company. If approved, the Company will send the Ambassador Customer up to 100 personalized business cards with the Ambassador QR Code.

2. Referral method and requirements for the Referred Customer
For the purposes of awarding the reward, the Referred Customer must:
– be a new Customer (not previously registered for the Service);
– register using the Ambassador QR Code;
– within 30 days of registration, complete a single currency exchange order in an amount equal to or greater than CHF 3,000 or EUR 3,000 or USD 3,000 (the “Minimum Amount”). Multiple transactions may not be aggregated to reach the Minimum Amount.

3. Reward
Upon fulfilment of the above conditions, both the Ambassador (Referrer) and the Referred Customer shall be entitled, on a one-off basis, to a reward of EUR 25 each, unless otherwise indicated on the promotional page or as amended in accordance with Section 6 below.

4. Payment of the reward and bank details
The reward shall be paid by bank transfer to the most recent bank details used on the portal by the respective beneficiaries. Rewards are paid on a regular basis via standard (non-instant) bank transfer and only after the Referred Customer’s exchange transaction has been completed and verified, including for compliance and anti-money laundering purposes.

5. Limitations and prohibitions
Any abusive conduct or conduct capable of altering the proper functioning of the Program is prohibited (including, by way of example: self-referral, creation of multiple accounts, use of false or inaccurate data, deceptive practices, spam, or promotional activities not compliant with these terms). In such cases, the Company may withhold the rewards, request reimbursement and/or suspend or terminate the relationship with the Customer.

6. Amendment, suspension, or termination of the Program
The Company reserves the right, at its sole discretion, to amend, suspend, or deactivate the Ambassador Program at any time, as well as to change without prior notice the Minimum Amount and/or the amount and currency of the rewards, and to cancel or not award rewards in the event of irregularities or breaches of these Terms and Conditions.

7. Tax responsibility
Any tax, reporting, or social security obligations connected with the rewards remain the sole responsibility of the beneficiaries, within the limits set by applicable law.

9) Promotion “EARN €25 with your first currency exchange*” displayed in the banner visible on all pages of the Moneyswapp website.

The promotion “EARN €25 with your first exchange*” displayed in the banner visible on all pages of the Moneyswapp website is:

9-a) Reserved only for new customers, i.e., individuals who are not already registered with the Moneyswapp service,

9-b) Who completes a currency exchange transaction of at least 3000 CHF or EUR or USD,

9-c) Within 30 days from the date of the individual customer’s registration with Moneyswapp.

The prize will be sent via bank transfer to the bank details provided by the new customer during registration.

The Company reserves the right, at its sole discretion, to:

– Deactivate the “EARN €25 with your first currency exchange*” promotion at any time;

– Modify the minimum Amount and/or the amount of prizes without prior notice;

– Cancel, delete, or not award prizes if irregularities are detected in the use of the service by one or more Customers.

If the Company detects improper conduct by the Service’s Customers, or behavior contrary to the Terms and conditions of the Service, it reserves the right to suspend and/or cancel any existing business relationship with said Customers, to not pay any prizes, and to request the return of any prizes already paid.

10) Client Identification and Clarification Requests

Before providing the Service, we are legally required to verify the Client’s identity. All transactions are subject to security checks, customer identification, and checks on the origin of funds. Such checks are necessary and required by law, notably the Federal Act on Combating Money Laundering and Terrorist Financing, the PolyReg SRO regulations, and related laws. If necessary, the Company reserves the right to request information, clarifications, or documents regarding the Client’s identity and/or the source of the funds at any time, before or after the exchange transaction, receipt, and/or transmission of funds. Such requests may delay the execution of the payment order. A Client’s refusal to provide such documents or information will result in the Company’s refusal to carry out the currency exchange transaction. Please note that, as a financial intermediary, the Company is obligated to report any illicit or suspicious activities to the competent authorities (for more information, see also the Disclaimer), as required by the Federal Act on Combating Money Laundering and Terrorist Financing and/or the PolyReg SRO regulations.

11) Payments

Each exchange order made on the website will remain inactive until the Company receives a payment via bank transfer with the money to be exchanged. It is necessary for the Client to prepay the booked exchange, and under no circumstances will the Company advance money to the Client. The Company cannot influence or expedite the time necessary for banks or payment service providers to process transfers. However, the Company regularly monitors its bank accounts (at 11:00 and 17:00 CET each business day) and sends the Client an email confirmation once the payment is received and the corresponding currency exchange is executed.

12) Timelines

The Company commits to deliver the exchanged money to the Client within 48 hours from the notification of the executed exchange, sent to the Client via email. If the funds arrive at the Company after 6:00 PM, the related order will be processed on the following business day. Please note that this timeframe depends not only on the Company but also on the actions of the banks or payment institutions involved. In exceptional market conditions or due to a high volume of exchange requests, the Company undertakes to execute the payment of the equivalent value and to send the Client proof of the executed payment within a maximum of four business days from the receipt of the funds to be exchanged.

13) Bank Transfers

Payments denominated in Euros must be made by the Client as single payments (SEPA – Single Euro Payment Area) with the “shared” commission option. Please note that only funds effectively credited to the account of ELP SA will be considered. The Company is not responsible for any fees or deductions charged by the Client’s bank or by intermediary banks not related to ELP SA. Payments denominated in Swiss Francs or US Dollars must be made as national payments or, if coming from bank accounts held by the Client in the EU, should be input with the “charges paid by the beneficiary” option. The Company will only exchange the funds effectively credited to it and reserves the right to modify the exchange rate of the transaction if the amount credited is CHF 80 or more, or equivalent in EUR or USD, lower than the amount communicated to the Company by the Client through the exchange request.

14) Virtual IBAN (vIBAN) Service

14.1 Service Description
Moneyswapp.com offers its Clients the possibility to activate, upon request, a personal Virtual IBAN (vIBAN), provided via Yapeal AG, a Swiss company licensed by FINMA under the Swiss Federal Banking Act. The vIBAN allows the receipt of funds in one or more supported currencies (e.g. CHF, EUR, USD), depending on the internal directives of the Company, into a virtual account in the name of the Client. This account may be used exclusively for subsequent foreign exchange transactions.
The vIBAN does not constitute a bank account, does not represent a deposit-taking activity, and does not accrue interest of any kind.

14.2 Eligible Users of the Service
The service is reserved for natural persons (retail clients) who are resident or domiciled in Switzerland, or who have a demonstrable economic interest in Switzerland.
The Client confirms that they are not subject to international regulatory restrictions (e.g. FATCA or CRS), in accordance with applicable compliance and anti-money laundering requirements.

14.3 Activation Procedure
The Client may request a vIBAN within the restricted area of the Moneyswapp.com platform.
Activation of the service is subject to verification and approval of the Client’s identity and economic/financial profile, including the receipt and validation of the following documents:

• • valid identification document;
  • Swiss residence permit, if applicable;
  • document evidencing the source of funds;
  • indication of employer and employment percentage;
  • any additional information upon request.

If the information and/or documentation provided is incomplete or non-compliant, the Client will not be able to proceed with the activation of the vIBAN.

14.4 Features of the vIBAN Service

• • The vIBAN is intended exclusively for the receipt of funds by the Client or by third parties previously authorised (e.g. employer or pension entity).
  • The vIBAN account does not allow the execution of payments or transfers to third parties.
  • The received funds may be automatically converted at the base rate available on the Moneyswapp.com platform upon verification of the credit by an authorized employee of the Company, or in accordance with the procedures set out in the terms and conditions of service.
  • For the onward remittance of the converted funds, the Company will use the bank details, including the destination currency, previously provided by the Client.
  • Barring additional checks or anomalies, the transfer of the converted funds to the Client’s account takes place no later than the following business day, or in any event within the timeframes defined in the terms and conditions of service. For payments intended for FX conversion that are received outside office hours or on public holidays, the transaction is executed on the next business day. Actual availability depends on the payment systems involved (e.g. SEPA / SEPA Instant), the Client’s bank, and mandatory compliance checks on a case-by-case basis.
  • Unsupported currencies / incorrect payment references: incoming credits in unsupported currencies or with non-compliant payment references/beneficiaries may be refused or returned. Any costs, FX differentials and other transaction or similar fees are borne by the Client / sender and will be deducted from the received amount before it is returned by the Company to the Client / sender.
  • The deposit of Client funds or third-party funds in a vIBAN is not permitted. Any amount received on each vIBAN will be converted into the currency specified by the Client at the time of activation of the vIBAN service and will be sent to the Client no later than the following business day, or at the latest within the payment timelines indicated in the terms and conditions of service.

14.5 Credits from Third Parties
The Client is obliged to indicate in advance on the platform the identity of any third parties from whom they expect incoming credits. Credits from unauthorised parties or with inconsistent data may be refused or returned to the sender.
If funds are received from unauthorised parties, or if the nature and modalities of a credit transaction conflict with the Company’s risk, compliance, and anti-money laundering policies:

• • an administrative fee may be applied for case handling and the return of funds to the original sender, including any payment and/or return fees incurred with correspondent banks;
  • the Client may be prohibited from using any services offered by the Company, including the vIBAN;
  • Moneyswapp.com reserves the right to return the funds to the sender, where technically feasible, as soon as possible, subject to regulatory obligations and compliance with applicable laws.

14.6 Limitations, Controls and Service Blocking
Moneyswapp.com, in cooperation with Yapeal AG, reserves the right to:

• • limit the number of vIBANs that may be activated and the currencies available for each Client;
  • limit the operability of a vIBAN at any time;
  • disallow transactions whose counter-value exceeds CHF 5’000.- in a single operation;
  • suspend, block or revoke access to the vIBAN in the event of suspected abuse, regulatory breach or for security reasons;
  • revoke a vIBAN, if necessary, without prior notice for reasons of compliance with applicable regulations or internal company policies;
  • notify any changes or interventions via the personal area or official communication channels.

Moneyswapp.com and/or Yapeal AG may apply limits to individual transactions and may order suspensions / blocks / revocations in case of suspected abuse, AML risk, regulatory violations or security reasons.
The Company further reserves the right, in accordance with applicable rules, to request additional documentation from each Client. Where necessary and in the cases required by law, the Company will submit the required reports to the competent authorities in line with anti-money laundering legislation.

14.7 Service Costs
Currently, the activation and use of the vIBAN are offered without additional costs other than the spread applied by the Company on each FX transaction, as described on the fees page of the website.
Moneyswapp.com reserves the right to introduce future fees related to the issuance and/or use of each vIBAN, subject to formal notice to Clients.

14.8 Liability and Applicable Regulation
The issuance and management of the vIBAN take place in cooperation with Yapeal AG, under the Swiss Federal Banking Act.
The Client acknowledges that the use of the service is also subject to the terms of use and compliance requirements defined by Yapeal AG, for example with respect to security, personal data protection, anti-money laundering obligations and tax obligations.

14.9 Data Protection (FADP) and Cross-Border Transfers
The Client acknowledges and accepts that the personal and transactional data necessary for the provision of the service are processed by ELP SA and shared with Yapeal AG and with payment / correspondent infrastructures, including abroad.
Processing takes place in accordance with the Swiss Federal Act on Data Protection (FADP). Further details (categories of data, purposes, legal bases, destination countries, security measures, data subject rights, and DPO / privacy contact details) are available in the Privacy Notice.

14.10 Liability
Except in cases of gross negligence or wilful misconduct, the Company is not liable for delays, rejections or unavailability attributable to payment systems, correspondent banks, sanctions regimes, AML controls, maintenance activities or force majeure.
The Client is responsible for the accuracy of the information provided, keeps their data up to date, and indemnifies the Company against claims arising from non-compliant use.
The Company may offset costs, fees or charges incurred by using available funds before remittance.

15) Costs for Sending or Receiving Bank Transfers

The Client is responsible and bears any commissions applied by their bank for sending or receiving bank transfers. Under no circumstances will the Company be responsible for or reimburse the commissions charged to the Client by the Client’s bank. We recommend that the Client review the conditions and commissions offered by their bank and inquire in advance about the costs of national and international transfers.

16) Multiple Exchange Requests

Each Client can have only one exchange transaction in progress/pending simultaneously. The Company does not accept new exchange requests from the same Client until the previous transaction has been completed or canceled.

17) Variation of the Exchange Rate

Between the Client’s exchange request and the arrival of the payment in the Company’s account, the Company applies a maximum exchange rate variation limit of 3% (hereinafter the “Limit”). In the event that, during this period, the exchange rate fluctuates more than the Limit, the Agreed Rate will be automatically updated with the new exchange rate proposed on the Company’s website at the time of the receipt of the Client’s payment by the Company. The Limit applies to both favorable and unfavorable exchange rate variations.

18) Limits

Limit applied to each individual exchange transaction: minimum: 100 CHF or 100 Euros or 100 USD.

19) Commissions

The Company will apply a fee of 20 CHF to cover the cost of manual intervention by the operator in the following cases:

a) The Client provides false, incorrect, or incomplete data or requests the modification of one or more data in the exchange request;

b) The Client refuses to provide one or more pieces of information requested by the Company regarding personal identification or the source of the funds;

c) The Client requests the payment of the exchange amount to an IBAN other than that communicated in the exchange request;

d) If the Company has to handle the exchange transaction requested by the Client differently from what is indicated in the exchange request;

e) If a modification, management, or manual cancellation of the exchange transaction is requested.

f) For any eventual refund to the Client of the already received or to-be-received bank transfer. This fee will be deducted from the amount received from the Client.

20) In-depth checks and controls at the client’s request

In the event of disputes, checks, audits, or any other investigation where a client or counterparty requests ELP SA to verify the actual execution of a currency exchange transaction or a payment related to a currency exchange transaction, the company reserves the right to charge the client for the hours spent on such checks, exclusively in cases where the requests are unfounded, incorrect, or repetitive. In such cases, the cost will be calculated based on an hourly rate of 150 CHF, plus VAT.

21) Limitation of Liability for Incorrect Data Entry

The Company is not responsible for losses or charges that the Client may incur due to the insertion of incorrect data in the exchange request form (Beneficiary, Address, IBAN Codes, BIC, Base Currency of the Account, etc.).

22) Client’s Obligations

In the unlikely event of an error in the payment sent or received, the Client must immediately inform the Company. In the unlikely event that the Client receives an amount greater than the expected amount or an unexpected payment, they undertake to immediately return any surplus. The Client is required to promptly provide the Company, upon request, with information and documents identifying the counterparty, the economic beneficiary, and the lawful origin of the money used for the exchange transactions. The Client undertakes not to use the Services described here for any illegal activities, and the Company reserves the right to investigate any suspicious activities or in response to any reported complaints or violations. The Company reserves the right to report suspicious activities to the competent authorities (in this regard, also see the Disclaimer), as required by the Federal Act on Combating Money Laundering and Terrorist Financing and/or the PolyReg SRO regulations.

23) Withdrawal from the contract

Please note that exchange requests and the Agreed Rate automatically expire at the end of the business day following the date on which the exchange request was received by the Company. By sending the bank transfer, the Customer expressly declares acceptance of the exchange rate proposed in the transaction, specified both within their reserved area on the portal https://dashboard.moneyswapp.com/login and in the confirmation email. Withdrawal is no longer allowed once the Company receives the Customer’s bank transfer. If the Customer’s intention to withdraw is received after the transfer has been received, the Company reserves the right to charge the Customer a fee of 20 CHF or equivalent, which will be deducted from the amount received by the Company. The Company will execute exchange orders received from the same customer in chronological order. Withdrawal requests will not be accepted if they are intended to cancel exchange orders where the Agreed Rate is worse than the rate offered on the portal https://moneyswapp.com/en/ at the time of the Customer’s withdrawal request. Even if the Customer uses a specific reason, the Company will not execute a specific exchange order or a subsequent one if it detects an attempt by the Customer to speculate on the exchange rate of the transaction. For example, if the Customer places two exchange transactions from CHF to EUR of the same amount, where the second is more advantageous than the first, the Company will execute the first as speculation is prohibited.

24) Communications

By using the Service, the Client agrees to be contacted by the Company via email, phone, or postal mail for communications related to the exchange transaction, Client identity verification, the origin of funds, and communications related to the activities of Moneyswapp.com and moneyswapp.com (see Privacy Policy).

25) Complaints

The Company is committed to providing the highest standards of quality and service. For suggestions and complaints, you can write to support@moneyswapp.com or by postal mail to ELP SA, Corso San Gottardo 8 A – CH 6830 Chiasso. If the Client is not satisfied, they have the right to contact the self-regulatory association to which we adhere, www.polyreg.ch, or submit a complaint through the appropriate form available on the website www.finma.ch.

26) Privacy

The protection of privacy is very important to the Company. All data collected from Clients is used solely for allowing the company to provide the currency exchange service through bank transfer, in compliance with all applicable legal requirements (the Federal Act on Combating Money Laundering and Terrorist Financing, the PolyReg SRO regulations, and related laws). ELP SA is subject to professional secrecy as provided for in Article 16 of the Federal Law on the Exercise of Fiduciary Professions (LFid) of December 1, 2009. The information transmitted between the web browser and/or the mobile app used by the client and the website Moneyswapp.com and moneyswapp.com is transmitted in encrypted form using the Secure Socket Layer (SSL) protocol.

27) Law and Jurisdiction

The parties expressly declare that this agreement will be governed by Swiss law. Swiss law will apply to all cases not covered by this agreement. The place of fulfillment, place of execution for all clients, including those residing abroad, and the exclusive jurisdiction for all disputes arising from this agreement and related statements is Mendrisio, Switzerland.

Last updated: 30 October 2025