Effective Date: These terms and conditions are effective from September 22, 2023, and apply to all users of the "UnionPay MoneyExpress" service.
Important Note: Before confirming the use of the "UnionPay MoneyExpress" service, please carefully read these terms and conditions and ensure that you fully understand them. By confirming the use of the "UnionPay MoneyExpress" service, you indicate your agreement to be bound by these terms and conditions.
1. Users of "UnionPay MoneyExpress" must be cautious when entering the remittance amount and verifying the accuracy of the recipient's account information. Users are responsible for any losses arising from incorrect user input.
2. Before making a remittance, users must understand and ensure that the daily or annual limits for recipients through UnionPay remittances have not been reached. If a remittance cannot be successfully made due to insufficient limits, users are responsible for any related risks and responsibilities.
3. Transaction Limits
The setting and enforcement of UnionPay limits are to comply with regulatory requirements and prevent illegal or
suspicious transactions. For each recipient, the UnionPay transaction limits (limits include all UnionPay
remittance
channels, not limited to channels provided through our company) are as follows:
Single transaction limit: Minimum remittance amount of HKD 2,000, maximum of RMB 20,000
Daily limit: RMB 60,000
Annual limit: RMB 300,000
4. The remittance handling fee for each transaction is HKD 50.
5. The company reserves the right to suspend and cancel the "UnionPay MoneyExpress" service at any time without providing any reasons to users.
6. UnionPay MoneyExpress" supports many Chinese banks. For the list of supported banks, please refer to the
following
link: https://www.unionpayintl.com/en/servicesProducts/servicesBenefits/crossBorderRemittance
If the recipient's bank is not listed, and you are unsure if it supports UnionPay channels, you can simply enter
the
account number to check the validity of the account. Please note that UnionPay MoneyExpress is only available
for
Chinese citizens with UnionPay card accounts in Mainland China. Before conducting the transaction, please ensure
you
have the correct recipient's details.
7. The exchange rate for "UnionPay MoneyExpress" is locked in real-time. The displayed RMB amount in the system is the actual amount charged, minus all fees.
8. Users must ensure that the source of funds is compliant. Transactions involving fraud, dishonesty, theft, and obtaining funds through incorrect means may result in termination of the transaction and the possibility of the related account being frozen.
9. Unless prohibited by law, users agree that the company may transfer, disclose, process, and store their personal data to the company's holding companies, subsidiaries, representative offices, agents, and other third parties designated by the company (referred to as transferees), in the location where the transferees are located, including but not limited to Hong Kong and/or overseas. The company and any transferee may disclose the user's personal data to third parties for the following reasons:
a. Providing services, products, or conducting product promotions and marketing to users.
b. Anti-money laundering and anti-terrorism financing.
c. Crime investigation and fraud prevention.
d. Disclosure required by any laws, courts, regulatory authorities, law enforcement agencies, or legal procedures in Hong Kong or other overseas jurisdictions.
10. The company may modify these terms and conditions from time to time. Before any modified terms and conditions that affect user fees or charges become effective, the company will announce them on the SpeedPay website or notify users in a manner determined by the company, seven days before the revision takes effect. Modifications related to (but not limited to) legal requirements, regulatory guidelines, or ensuring the safe operation of the SpeedPay system are exempt from this notice period.
11. Users are responsible for regularly checking the SpeedPay website to ensure they receive timely notifications. Users can submit written objections to the company within seven days after the date of publication on the website; otherwise, it will be deemed that users accept the above-mentioned changes. When these terms and conditions or any notice of modification becomes effective, users' continued use of the services provided by SpeedPay constitutes acceptance of the modification. If users do not accept the company's modifications, users may stop using the relevant service.
12. Except as required by law or these terms and conditions, the company will not be responsible for any loss or damage to users or third parties regarding the provision of remittance services.
13. If any term or condition of these terms and conditions becomes illegal, invalid, or unenforceable at any time, the remaining terms and conditions will not be affected or impaired.
14. If users have any further questions or opinions regarding the company, please contact the company's customer
service
department:
Email address: cs@speedpay.com.hk