This General Terms & Conditions shall be effective from 27 February 2020.
A little ’bout how we’re regulated. You Technologies Group (Singapore) Pte Ltd (“YouTrip”, “our”, “we” or “us”) is licensed under the Payment Services Act 2019 (No.2 of 2019) (“PS Act”) as a major payment institution to carry on the business of cross-border money transfer service. We’ve also applied to the Monetary Authority of Singapore to vary the activities we may conduct as a major payment institution to additionally include: (i) account issuance service, (ii) domestic money transfer service and (iii) e-money issuance service.
How we’re safeguarding your monies. As required by the PS Act:
- All your monies are deposited into a dedicated customer segregated account held by us with Standard Chartered Bank (Singapore) Limited (“Standard Chartered”) which shall be safeguarded separately from any other account in which we deposit our own monies. All monies in this dedicated customer segregated account are held on trust by us for you and Standard Chartered will not be entitled to use such monies to repay any debts we may owe Standard Chartered.
- As the trustee of the dedicated customer segregated account, rest assured that we are not able to use the monies held in such account to repay any debts we may owe to any other party.
Rejecting our Terms. If you don’t agree to the Terms, please stop using the App, Services, any physical prepaid card (“Card”), and our website.
- Getting started
Sign-up process. You’ll provide us with your contact number and email address, and agree to allow us to contact you through such email address and/or contact number to assist you with setting up your account (“Account”).
Your cooperation is required to set up your unique Account. We’ll set up an Account for you that’s unique to your contact number. During this process, we’ll ask you to provide certain information that’s necessary to complete the registration. As setting up your Account is the first step before you’re able to use the App and Card, your cooperation is essential. For more information about activating your card, please refer to paragraph 9 below.
- Getting to know you
We’re required by law to carry out security and customer due diligence checks on you in order to provide any Services to you. You agree to cooperate with all requests made by us or any of our third party service providers in relation to your Account and/or Card, to identify you, authenticate your identity, or validate your funding sources or transactions. We may close, suspend, or limit access to your Account and/or the Services if we’re unable to obtain or verify such information. You also agree to authorise us – directly or through our third party service providers – to make any enquiries we consider necessary to validate your identity. Some examples include: asking for your date of birth, driver’s license or such other information to help us to identify you, and may also involve some assistance on your part, such as taking steps to confirm ownership of the contact number or payment instruments linked to your Account.
- Accuracy of information
You’re responsible for providing us with accurate information when using our Services. This includes but is not limited to any applicable payment information you’re prompted to provide. If we’ve processed your payment request using the information you’ve provided to us, it’ll be considered correctly completed even if you’ve made a mistake. You’re solely responsible for any losses that occur as a result of any inaccurate information you’ve provided.
- Approved devices and platforms
Our App is intended to be used on mobile devices that run Apple or Android operating systems, our website or such other devices running operating systems approved by us. A number of our Services are delivered through your mobile device and computer. You must not use the Services on any operating system that has been modified or customised in any manner. You’ll bear the sole responsibility for such unauthorised use of the Account, Services or Card, and be solely responsible for any losses that occur as a result.
- Information security
Securing your Credentials. You’re responsible for maintaining reasonable security and control of your mobile phone, all IDs, passwords, personal identification numbers (PINs), or any other codes that you may use to access the Services, Card and Account (“Credentials”). You must immediately notify us of any unauthorised use of your Credentials or any other breach of security. You’re also able to block your Card through the App at any time.
- Using the Services
You agree that in respect of the Services and Account, you’ll:
- ensure that you’ve sufficient balance in your Account before each payment transaction;
- provide us with all necessary assistance to recover or rectify any unauthorised amount paid from or to your Account’s available balance; and
- at our request, top up your Account to rectify any negative balance.
You agree to NOT carry out the following activities (“Restricted Activities”) through our website, Services, App, Card, Account or while interacting with us, other users of the Services (“Other Users”) or third parties:
- use your Account to facilitate criminal activities such as money laundering, terrorist financing and/or unlicensed money lending;
- allow other people to operate, access and/or control your Account;
- receive money from strangers, dubious sources, or other unverified sources (this includes but is not limited to facilitating top ups to your Account and/or Card in such a manner);
- use the Services and Card for any purpose for which it’s not designed or intended, including purposes other than for the payment for goods and/or services (e.g. collecting donations as a charity or non-profit organisation);
- infringe the copyright, patent, trademark, trade secret or other intellectual property rights or rights of publicity or privacy of YouTrip or any other third party;
- act in a manner that’s defamatory, libelous, threatening or harassing;
- provide false, inaccurate or misleading information;
- use the Services to facilitate debt-collection;
- instruct us to process on your behalf any transactions, which is in our reasonable opinion potentially fraudulent;
- control an Account that’s linked to another Account which has engaged in any of these Restricted Activities;
- take any action that imposes an unreasonably or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information; use an anonymising proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our website without our prior written permission; or interfere or attempt to interfere with the Services;
- take any action that may cause any system downtime to our internet service providers, payment processors, or other suppliers;
- use the Services to make transactions for the primary purpose of earning rewards, perks, miles, points etc. with your credit card, debit card, or bank account (or help others to do so);
- circumvent any of our policies or determinations in respect of your Account, including but not limited to temporary or indefinite suspensions, limitations or restrictions, such as engaging in the following: attempt to create a new or additional Account when an Account has a negative balance or has been restricted, suspended or otherwise limited; create a new or additional Account using information that does not belong to you (e.g. name, address, email address, etc.); or use an Account that does not belong to you;
- harass our employees, agents or Other Users;
- breach the Terms, or any other agreement or policy that you may have agreed to with YouTrip, or its third party service providers;
- violate any law, statute, ordinance, or regulation;
- use the Services to purchase or sell, or to facilitate the purchase or sale of illegal goods or services;
- “Double-dip” during a dispute, chargeback, reversal or other investigation. “Double-dipping” refers to intentionally or knowingly receiving or attempting to receive funds from both YouTrip and a merchant for the same transaction;
- use the Services in a manner that’s likely to result in or may result in complaints, disputes, reversals, chargebacks, fees, fines, penalties or other liabilities to YouTrip, Other Users, third parties or yourself;
- use your Account or the Services in a manner that causes us or the relevant electronic funds transfer network to reasonably conclude that there’s an abuse of the card system or a violation of any applicable electronic payment network rules, card association or network rules or applicable law;
- maintain an Account with a negative balance for any prolonged period (which shall determined at our sole discretion); or
- refuse to cooperate in an investigation or confirm your identity or any information you provide to us.
Freezing, closing, suspending or terminating your Account. In the event that you’ve carried out or attempted to carry out any of the Restricted Activities or transactions that we’ve determined at our sole discretion to not be permitted under the Terms, we may take action at our sole discretion, to freeze, close, suspend or terminate your Account.
Sanctions Laws. We’re committed to complying with sanctions laws and regulations (as may be amended from time to time) passed by Singapore, the United Nations Security Council, the European Union and the U.S. Department of the Treasury’s Office of Foreign Assets Control as well as any applicable sanctions laws in the jurisdictions in which we operate (“Sanctions Laws”). Our customer acceptance policy is aligned with the Sanctions Laws and our risk appetite. By using your Account and the Services, you represent and warrant that at all times, you’re not subject to Sanctions Laws and shall not use your Account or the Services for the benefit of sanctioned individuals, entities, countries or territories. We’ll not hesitate to take necessary action, including reporting, rejecting and/or blocking transactions, rejecting funds, closing accounts, terminating relationships that, at our sole discretion, appear to violate Sanctions Laws.
- Our right to make changes to the Services
We may change, suspend or discontinue any aspect of the Services at any time without notice and without liability. This includes but is not limited to our hours of operation, availability of the Services or any service features (such as imposing limits on certain service features or restricting access to some or all of the Services).
- Use of the Card
Activating your Card. You’ll be issued a Card after your application has been approved. After you’ve received your Card, you must:
- activate your Account in the App within the stipulated time frame; and
- sign the signature panel on the back of the Card immediately and keep the Card safe.
We shall not be responsible/liable to you for any discrepancy between the signature appearing on the Card and the corresponding sales slip or for any reason(s) the Card is not accepted. You acknowledge and agree that any discrepancy between the signature appearing on the Card and the corresponding sales slip shall not by itself be a ground for disputing the validity of the sales transaction.
Validity Period. Your Card shall be valid for the period (“Validity Period”) stated on the card and shall expire on the first day of the following month indicated on the face of the Card. You agree and understand that the Validity Period may not be extended.
Delivery of your Card. All Cards shall be delivered to the Singapore residential address stated in your application. Delivery to postal boxes shall not be accepted.
Your use of the Card is subject to certain obligations and limits. You must:
- keep your Card safe;
- ensure that your Account has sufficient balance to successfully carry out the intended transaction;
- always remember to take your Card back after using it;
- not allow any other person to use your Card;
- not give your Card number and details to any unauthorised person; and
- not leave your Card in an unattended wallet, purse or vehicle or anywhere where another person could remove your Card without being noticed.
Replacing your Card. If your Card is lost, stolen, damaged or defaced, you may apply for a replacement Card from us. The card replacement and delivery fee is set out in paragraph 11 below. Any remaining stored value in the lost, stolen, damaged or defaced card shall only be transferred to the replacement Card. For replacement of damaged or defaced Cards, you may need to produce the damaged or defaced card. We’re not responsible for any losses that occur as a result of your Card being lost or stolen.
- Account closure and refunds
Unused stored value. You acknowledge and agree that upon expiry of your Card, you shall no longer be entitled to use any remaining stored value in the Account. If you wish to apply for a new Card or close your Account, you can let us know at any time by emailing email@example.com.
Closing your Account. If you don’t file for a refund within (30) thirty days from the expiry date of your Card, you shall be deemed to have abandoned your claim to the remaining stored value and no longer be entitled to claim the remaining stored value, and we shall have the right to deal with the remaining stored value at our sole discretion.
Refund process. We encourage you to use up the stored value in your Account before closing your Account, as there’s a refund processing fee, which is set out in paragraph 11 below. All refunds must fulfil the following conditions:
- you must instruct us to close your Account by submitting a validly completed refund application form; and
- we’re able to deduct a refund processing fee from the remaining stored value on your Account.
No refunds where your Account has insufficient stored value. We’ll only process refunds where the remaining stored value exceeds the refund processing fee and other promotional credits (e.g. any referral bonus) previously offered to you. You’ll be notified of any unsuccessful refund if there’s insufficient stored value in your Account.
Receiving your refunds. The remaining stored value will be refunded or made available to you within (60) sixty days from the date we receive your validly completed refund application form. If you don’t collect or effect your refund within (50) fifty days from the date the refund is made available, you shall be deemed to have abandoned your claim to the remaining stored value and shall no longer be entitled to the remaining stored value, and we shall have the right to deal with the remaining stored value at our sole discretion.
- Overseas Transaction Fees: Free
- Currency Exchange Fees: Free
- Card Issuance & Setup Fee: Free
- Annual Fee: Free
- Top Up Fee: Free
- ATM Withdrawal Fee: S$5 or equivalent foreign currency
- Card Replacement & Delivery Fee: S$10
- Refund Processing Fee: S$10
Notwithstanding the fees set out above, we may at our sole discretion decide to reduce or waive the fees payable by you.
- Transaction limits
- Maximum Top Up Balance: S$5,000
- Annual Top Up Limit: S$30,000 every 365 days, starting from your first top up on or after 27 February 2020
- Your Account balance
Reported balances and available funds are only approximate real time balances. While we endeavour to provide you with up-to-date information about your account balance as far as possible, balances and available funds reported through the Services are only approximate real time balances, not the settled balances, and may not include pending debits and credits.
- Sending, spending or exchanging money
When you send, spend or exchange money, you acknowledge and agree that you’re authorising us to execute each relevant transaction. After you have effected any transaction, you’ll not be able to cancel the transaction, except as provided for by any applicable law.
We provide you with a digital record for all transactions, accessible through the App. We don’t provide you with any physical receipt or any other written confirmation in respect of your transactions. However if required, you may request for a separate periodic statement of your usage of Services at any time by emailing firstname.lastname@example.org. We also recommend that you ask for a copy of the receipt from each relevant merchant you’ve transacted with.
A pre-authorisation is a temporary hold placed by a merchant on your Card, and reserves funds for a future payment transaction. Such transactions are commonly carried out by hotels and car rental companies. The temporary hold may be for up to (30) thirty days and may be for an amount greater than the final bill. You’ll not be able to spend this temporarily held sum during this period. We’re not able to release such sum without the merchant’s authorisation, and in some situations, the withheld sum may also include an additional 20% to cover taxes and service charge.
- Fraudulent, illegal or criminal activity
Suspension or termination of your Account and Card. We may suspend or terminate your Account and Card if suspect you’re involved in any fraudulent activity, money laundering, terrorism financing or other criminal and/or illegal activity or if we suspect you to be in breach of the Terms.
Reversal of payment transactions. We also have the right to suspend, or later reverse, the processing of any payment transaction if we suspect that the payment transaction involves any fraudulent activity, money laundering, terrorism financing or other criminal and/or illegal activity or if we suspect you to be in breach of the Terms. In such an event, you agree that you shall not hold us liable for any withholding of, delay in, suspension of or cancellation of, any payment by or to you.
You’re responsible for all transactions effected with your Account regardless of whether such activity is actually carried out or authorised by you. We shall be entitled to treat all use of or access to the Services, and any information, data, instructions or communications issued with your Account, as having been transmitted and validly issued by you, and you shall be bound by all such use and/or access.
Your intended merchant or recipient has the right to choose to accept or decline any payment method. In the event a merchant or recipient does not accept the Card or Services as a valid payment method, we shall not be liable for any losses incurred by you as a result of the merchant or recipient’s refusal to accept such payment. Any unclaimed, refunded or declined sums will be returned to you through the original payment method within 30 days of the date you initiated payment.
Transaction notifications. As part of our efforts to help secure your Account, you acknowledge and agree that we may provide you with notifications once every 24 hours for certain transactions performed with your Account. Please contact us immediately if any of such notified transactions were not conducted by you.
Liability for losses. You shall be liable for all losses incurred as a result of unauthorised transactions if:
- you’ve acted fraudulently;
- you’ve intentionally or negligently compromised the security of your Account; or
- you’ve compromised the security of your account by disclosing your Credentials to another person.
- Exchange rates
Foreign Currency Transactions. Apart from Singapore dollar transactions, the Card can also be used for transactions in other foreign currencies (“Foreign Currency Transaction”). If you make a Foreign Currency Transaction, we’ll either settle such transaction in the relevant foreign currency, or such other foreign currency and/or Singapore dollar balances as may be available in your Account. If such a transaction is settled using other foreign currency and/or Singapore dollar balances, the applicable sums from such balances will be exchanged to the relevant foreign currency at the rate of exchange applicable at the relevant time of the transaction. Please note that exchange rates may vary from time to time. You may refer to the App for the latest exchange rates.
- Liabilities after Account has been closed
You may be liable for any obligations related to your Account even after it has been closed.
- Limitation of liability
Our liability for any losses or damages that you may incur arising from the use of the Card as a result of our breach or non-performance of our obligations under the Terms shall not exceed the stored value balance in your Account or the actual direct losses or damages, whichever is lower. We shall not be liable for any indirect or consequential losses, (both of which include, without limitation, pure economic loss, loss of profit, loss of business, depletion of goodwill and like loss) howsoever caused (including as a result of negligence).
- Governing law & jurisdiction
The construction, validity and performance of the Terms shall be governed by and construed in accordance with Singapore law and any claim or dispute arising out of or in relation to the Terms shall be subject to the non-exclusive jurisdiction of the Singapore courts.
- Internet delays
The Services, App and/or Software may be subject to limitations, delays and other issues associated with using the internet and electronic communications. This includes but is not limited to the device used by you or third party service providers being faulty, not connected, out of range, switched off or malfunctioning. We’re not liable for any delays, delivery failures, damages or losses that occur as a result of these issues.
- Communications and updates
We may notify you directly about new updates and communications through our app or the website. However, it’s your responsibility to stay up to date by visiting our app or website personally from time to time. You’re also responsible for reviewing any notices to you and your transaction history, and to promptly report any questions, apparent errors, or unauthorised transactions. Failure to contact us in a timely manner may result in the loss of funds or important rights. In addition, we may at our sole discretion, implement forced updates of the App at any time.
- Customer support
Enquiries regarding payment transactions. If you discover any errors or unauthorised transactions, please contact our customer support team immediately. We can be reached through the in-App message support system or via email@example.com. You may also initiate a block on your Card through the App at any time.
Transaction disputes or requests for chargeback. Any transaction disputes or requests for chargeback shall be raised through the prescribed Cardholder Transaction Dispute & Chargeback Form which can be accessed at: https://support.you.co/hc/en-us/articles/360000600173-Where-can-I-download-the-transaction-dispute-and-chargeback-form-.
- Updating your contact information
It’s your responsibility to keep your contact information up-to-date. If you’re unable to receive electronic communications because your contact number or email address on our file is incorrect, out of date, blocked by your service provider, or for any other reason, we shall be deemed to have provided the relevant communication to you, and shall not be liable for any damages or losses incurred as a result.
If your contact number or email address becomes invalid, we may at our sole discretion designate your Account as inactive. In such cases, you won’t be able to use your Account until we receive a valid, working contact number or email address from you.
Our failure or delay in enforcing any of our rights under the Terms or applicable laws shall not be deemed to constitute a waiver of such right.
- Third party rights
A person who is not a party to the Terms has no right under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of the Terms.
- Amending the Terms
We may amend any part of the Terms, or our policies relating to the Services, at any time, by posting the amended versions on our website at https://www.you.co/sg/. We may elect, at our sole discretion, to provide notice of such amendments to you through email or otherwise, but you shall remain responsible for checking for amended Terms and policies regularly. If you don’t agree to any amended Terms or policies, you should initiate closure of your Account. Your continued use of your Account and/or the Services shall be deemed to be your acceptance to the amended Terms.