Wallet Terms and Conditions
Wallet Terms
Who do these terms apply to?
These Wallet Terms apply to you if you ordinarily live in the U.S. or on a U.S. military installation, or fund our services with a U.S. bank account or credit/debit card issued by a U.S. bank.
These terms form part of our Sender Terms (the terms and conditions you agreed to when you became our customer and which are available in the Channel). All capitalized words have the meaning given to them in the Sender Terms.
Who is this Agreement with?
This Agreement is with you (the person wishing to open a Wallet) and WorldRemit Corp. See Section 3, paragraph 2 of the Sender Terms for information on WorldRemit Corp. and information you need to know by law about this company.
What is a “Wallet”?
A Wallet is a pre-paid account. You can put money into a Wallet, store it there, and use the money in the Wallet to send money via our money transfer service to any person (a “Recipient”). For more information regarding our money transfer service, see Section 1 and Part A of Section 2 of the Sender Terms.
How do I create a Wallet?
If you are eligible to create a Wallet, you will receive a prompt in your selected Channel. You can then follow the steps to register and create a Wallet.
Are there any restrictions that apply when using the Wallet?
Yes. You will not be able to recall the money that you put into the Wallet. This means that any money that you put into your Wallet can only be used to transfer funds to a Recipient using our money transfer service.
How do I put money in the Wallet?
You can put money in the Wallet using a debit card issued in your name. You will need to keep your payment method information up to date (e.g., debit card number and expiration date). We may choose to verify your debit card but do not represent that any payment instrument used will successfully transfer funds into your Wallet. You will not earn interest on money stored in your Wallet. You assign to WorldRemit Corp. the right to earn interest on money stored in your Wallet in consideration for the service.
How do I use Wallet?
You can use the Wallet to elect to payout using our money transfer service. For more information regarding our money transfer service and timings, see Section 1 and Part A of Section 2 of the Sender Terms. If you have any concerns about longer delays, you should contact us (see paragraph 10 of Section 3 of the Sender Terms).
How do I close the Wallet?
If you wish to close the Wallet, please get in touch with us online, by phone, by email or by post using the contact details set out in paragraph 10 of Section 3 of the Sender Terms.
Fees for use of the Wallet
We will not charge any fees, charges, or applicable exchange rates for you to pay into the Wallet. Please note that your bank or other payment service provider may charge you a fee for putting money into the Wallet. We will charge you our usual Fees and the relevant exchange rate that will be applicable when you use our money transfer service.
Below, see Exhibit A, Short Form Disclosure, which provides a summary fee disclosure, and Exhibit B, Long Form Disclosure, which provides a list of all fees for the Wallet. For more information regarding Fees and exchange rates for our money transfer service, see paragraph 2 of Section 1 and paragraph 3 of Part A of Section 2 of the Sender Terms.
How can I view my balance in the Wallet?
You will need to go into the Wallet dashboard in the Channel you used to open your Wallet.
Limits on transaction
From time to time, we may impose limits on your transaction based on a variety of legal, risk management, or other business considerations we believe to be reasonable. If a transaction limit is applicable for you, it will be stated on your selected Channel.
Cancellation and refunds
Once we accept your request to put money into your Wallet, you won't be able to cancel the request or recall the money from the Wallet.
If you choose to cancel a money transfer from the Wallet, you can cancel it as set out in the refund paragraph 5, Section 2, Part A and paragraph 7, Section 3 of the Sender Terms. We might offer promotional credits from time to time. These credits are not refundable.
Our rights to refuse, cancel, suspend or delay our services
We may refuse, cancel, suspend or delay our services for different reasons. Some of these reasons are set out in the table in paragraphs 1.2 and 5 of Section 1 and paragraph 7 of Section 3 of the Sender Terms.
Where we have good reason to suspect some money that you have put into the Wallet are a result of fraudulent activity, we will suspend access to all other money stored in the Wallet for either;
(1) 120 days, or
(2) when you give us the information we ask for in order to unblock your Wallet (whichever is shorter).
Electronic Communications E Sign Up Disclosure and Consent
The Sender Terms apply to this service. This means you agree to the acceptable use terms in Section 1 of the Sender Terms and the Electronic Communications E-Sign-Up Disclosure and Consent requirement in paragraph 3, Section 3 of the Sender Terms.
Unclaimed money stored in the Wallet
If your Wallet is inactive for an extended period of time it may be deemed “unclaimed” or “abandoned” under applicable law. If this occurs, we will provide you with notice as required by applicable law. If money still remains in your Wallet, we will escheat such money as required by applicable law.
Exhibit A. Wallet Short Form Disclosures
Monthly Fee | Per Purchase | ATM Withdrawal | Cash Reload |
|---|---|---|---|
$0 | $0 | N/A | N/A |
Monthly Fee / Per Purchase / ATM Withdrawal | |
|---|---|
ATM Balance Inquiry (in-network or out-of-network) | N/A |
Customer Service (automated live agent) | $0 |
Inactivity (after 12 months with no transactions) | $0 |
We do not charge any other types of fees |
No overdraft/credit feature.
Your funds are not FDIC or NCUA insured.
For general information about prepaid accounts, visit cfpb.gov/prepaid.
Find details and conditions for all fees and services in Wallet Long Form Disclosures, below.
Exhibit B. Wallet Long Form Disclosures
Opening a Wallet and holding a balance
All fees | Amount | Details |
|---|---|---|
Account Setup | $0 | No fee to set up a Wallet account. |
Monthly fee | $0 | No monthly or other fee to hold a balance in a Wallet. |
Add money to your balance in a Wallet
All fees | Amount | Details |
|---|---|---|
Transfer from your third-party funding account | $0 | No fee to transfer funds from your registered credit card, debit card, or ACH-enabled checking or savings account to your Wallet balance. The issuer of your registered credit card or the financial institution maintaining your registered ACH-enabled checking or savings account may charge a fee for this transfer. |
Receive money through Zepz peer-to-peer payment | $0 | N/A |
Receive money from Zepz | $0 | No fee to receive funds from a Zepz entity, such as a credit issued to you in accordance with an error resolution or otherwise. |
Other transfers | $0 | N/A |
Transferring money from your balance in Wallet
All fees | Amount | Details |
|---|---|---|
Transfer to your third-party funding account | $0 | N/A |
Send money through Zepz peer-to-peer payment | $0 | N/A |
Online purchases | $0 | N/A |
Other withdrawals | $0 | N/A |
Get cash
All fees | Amount | Details |
|---|---|---|
ATM withdrawal (in network) | N/A | A Wallet balance cannot be withdrawn at ATMs. |
ATM withdrawal (out-of-network) | N/A | A Wallet balance cannot be withdrawn at ATMs. |
Information
All fees | Amount | Details |
|---|---|---|
Customer service (chat) | $0 | No fee for customer service via chat, including for balance inquiries. |
Customer service (live agent) | $0 | No fee for live agent customer service, including for balance inquiries. |
Account statements | $0 | No fee to access your account statements. |
Other
All fees | Amount | Details |
|---|---|---|
Inactivity | $0 | There is no fee if you have not completed a Wallet transaction for 12 months. There is no dormancy fee or charge. |
Your funds are not FDIC or NCUA insured. Accordingly, should Zepz go bankrupt or otherwise become insolvent, you are not protected by FDIC or NCUA deposit insurance, and could lose some or all of your balance in your Wallet.
No overdraft/credit feature. Contact Sendwave by calling 714-455-2320, by mail at wallet@sendwave.com, or visit https://www.sendwave.com/en/terms-and-conditions
For general information about prepaid accounts, visit cfpb.gov/prepaid.
If you have a complaint about a prepaid account, call the Consumer Financial Protection Bureau at 1-855-411-2372 or visit cfpb.gov/complaint.