Real Transfer Limited

These terms of service (“Terms of Service”) constitute a binding and enforceable legal contract between Real Transfer Limited (“RTL”), a company incorporated in Northern Ireland, United Kingdom having its registered address at Office 8, Merrion Business Centre, 58, Howard Street, Belfast, Northern Ireland, BT1 6PJ, operating under the brand name ‘Aspora’ (formerly known as ‘Vance’) (“Company”, “Aspora”, “we”, or “us”) and any end user of the Service (“you”, “user”, “your”).

This document contains important information about your rights and obligations. It also contains a disclaimer of warranty and a limitation of liability clause.

Note: We follow the rules and requirements of and are regulated by the Financial Conduct Authority (reference number 535949) to provide payment services. We are also registered with HM Revenue & Customs as a money service business (registration number XZML00000185111) and the UK Information Commissioner (registration ZA649545).

1. About these Terms of Service

1.1 These Terms of Service set out the terms on which:

1.1.1 We offer all those services provided through the Aspora Mobile App (and any website maintained by us including without limitation the website at https://www.aspora.com/ its subdomains and associated Vance third party services (together, the “Platform”)) including without limitation providing you with a venue to aggregate international payment services and book currency exchange transactions from our contributing regulated payment partners(“Regulated Payment Partner(s)”); and

1.1.2 You agree to use the Platform provided by us and all those platforms maintained by us.

1.2 Please read this Terms of Service document carefully and make sure that you understand them before using the Platform. If you do not agree to these Terms of Service, you must cease use of the Platform with immediate effect.

2. Services

2.1 We provide the Services and operate the Platform. The Platform enables private individual users to build an international payment order, receive live exchange rate quotes and book transactions.

2.2 Using our Services, you (the “Sender”), may initiate a transfer of funds to any beneficiary (“Recipient”). The total amount sent includes the money you wish to transfer and any applicable service fees we charge. We then process your request, which we refer to as a “Transaction”. The recipient receives the transferred funds in the currency you selected.

2.3 By accepting these Terms of Service, you accept and agree that, when we have compiled a full Client Profile, including but not limited to all personal background information and all supporting documents adequately required within the account activation process, we will forward the full Client Profile securely to the relevant Regulated Payment Partner(s), who have a need to know such information for provision of Services.

2.4 The Regulated Payment Partner(s) will conduct standard due diligence checks including, but not limited to, Know Your Client (KYC) and Anti-Money Laundering (AML) (“AML/KYC check”), for the purposes of your onboarding on the Platform.

2.5 Acceptance and activation of any User is at the sole discretion of the Company and subject to AML/KYC check.

3. Restricted activities

3.1 When using our Services, there are certain activities that are not allowed because they might compromise the security and safe use of Services for other Vance users. These are called Restricted Activities which you must not engage in, and are listed below:

3.1.1 Using Services for illegal purposes, such as fraud, funding terrorism or money laundering.

3.1.2 Using Services in connection with sexually oriented materials or services, gambling activities, or buying or selling tobacco, tobacco-related products, firearms, prescription drugs or other controlled substances.

3.1.3 Abusing, exploiting or bypassing service usage restrictions we put in place.

3.1.4 Using Services on behalf of someone else.

3.1.5 Violating a material part of these Terms of Service or other agreement between us.

3.1.6 Creating an unacceptable risk of liability, credit or fraud to us or other Aspora users.

3.1.7 Providing false, incomplete or misleading information that is important to your use of our Services.

3.1.8 Failing to cooperate in an investigation related to your use of our Services (including if we think you may have engaged in a Restricted Activity).

3.1.9 Trying to obtain more funds than you are entitled to during a dispute between you and us or providing yourself with a cash advance from your credit card.

3.1.10 Having a Profile that is linked to another Profile that has engaged in a Restricted Activity.

3.1.11 Accessing Services from outside of the UK or using an anonymising proxy or other tool which makes your use of the internet untraceable.

3.1.12 Using a robot, spider, scraper, automatic device or manual process to monitor or copy our Platform.

3.2 If we suspect you have or are about to engage in a Restricted Activity or used our Services in an unauthorised or fraudulent way, or if we believe that the security of your use of our Services may be compromised, we can take any of the following actions:

3.2.1 Close or suspend your Profile or your use of our Services and stop you from using our other Services in the future.

3.2.2 Delay, reverse, modify, cancel, decline or refuse to process a transaction.

3.2.3 Report relevant information (including your personal data) about you and your use of our Services to a regulator or governmental or law enforcement agency.

3.2.4 Claim monetary damages from you, if appropriate.

3.3 Notification in advance. We will usually tell you in advance if we need to take any actions described above. However, we may need to act without notifying you first if there is a security concern or if it would be considered “tipping-off” under law. We will lift restrictions on your use of our Services or allow you to re-register for them as soon as possible after the reasons for placing the restrictions no longer apply.

3.4 Your right to complain. If we do take any actions listed above, you always have the right to complain about our decisions. You can do this informally by contacting us in accordance with Clause 21 below.

4. Additional information

4.1 Use of Services: You may use our Services to make money transfers to all countries and regions as are listed on our Platform. We recommend that you make money transfers to your friends and family only and think carefully before sending money to strangers. It is also very important that you do not make a money transfer on behalf of someone else, or for any commercial purposes (such as buying an item or a service from a business) or to donate to a charitable organisation.

4.2 Trusted recipients: We will store information you provide us about a recipient to allow you to easily make transactions to that recipient in the future and join your list of trusted recipients. You must not make a money transfer to a recipient who does something (or fails to do something) that would violate a material part of these Terms of Service.

4.3 Currency conversion and exchange rates: We provide money transfers in multiple currencies as may be listed and updated on our Platform from time to time. When making a Transaction, an exchange rate is applied to the Transaction and includes a small margin, which we keep. Our Platform will describe what exchange rate will apply, which you can check and agree to before you submit a Transaction. You will also be notified about this in the Transaction confirmation notice.

4.4 Our right to limit Transactions: We may refuse to process a Transaction if we believe it is necessary to protect you or us, or if we are required to do so by law or regulatory requirements. We may also create new practices and limitations for Transactions, such as limiting the total amount that may be transferred via a single Transaction, either for all Aspora users or for a specific Profile. We will decide whether to implement any limits by assessing factors such as:

4.4.1 our risk assessment of your Profile,

4.4.2 an indication that your Profile or portal have been compromised,

4.4.3 the information you provide us and our ability to verify it, and

4.4.4 legal requirements we have to follow.

4.5 How we protect your money: Aspora isn’t a bank, it’s a digital financial services provider. To help send your money safely and quickly around the world, Aspora works with trusted banks and is regulated by the Financial Conduct Authority (FCA) for UK customers. This means that, while your money is not covered by the Financial Services Compensation Scheme (FSCS), we’re required to protect it at all times. We protect your money by following safeguarding rules — so even in the unlikely event of Aspora becoming insolvent, or if we stop trading, you will get your money back.

5. Transaction terms

5.1 Please note that all Transactions rely on your accurate information and compliance with these Terms of Service. We reserve the right to accept or reject any Transaction which we find are not in line with the terms set out in these Terms of Service.

5.2 To process transactions, we have partnered with banks who aid us to process the Transaction. Please note that as part of the Transaction process, the recipient would need to validate their identification with the recipient bank and hold a valid bank account. The transaction is considered completed from our end when the recipient’s bank credits their bank account.

6. Acceptance of Terms of Service

6.1 By using the Platform, you accept and agree to be bound by these Terms of Service.

6.2 You represent and warrant that you have full legal capacity and authority to agree and bind yourself to these Terms of Service. If you represent an entity, organisation, or any other legal person, you confirm and represent that you have the necessary power and authority to bind such entity, organisation, or legal person to these Terms of Service.

6.3 We may at any time modify these Terms of Service. We will notify you of any changes to these Terms of Service either by emailing you (at the email address notified by you to us on the Platform) or by posting a notice on the Platform.

6.4 By continuing to use the Platform after changes to these Terms of Service are made and notified to you, you agree to be bound by all changes.

6.5 At any time you can review the most current version of our Terms of Service by clicking on the “Terms of Service” link located at the bottom of the website at https://www.aspora.com/. The most current version displayed on that page will supersede all previous versions.

7. Limitations on use

7.1 You must be at least 18 years old to use the Services or the Platform. If you do not qualify, please do not use the Services or Platform.

7.2 Should you choose to access the Platform from locations outside of England and Wales, you will be responsible for compliance with local laws if and to the extent such local laws are applicable.

7.3 No business purposes. The Services are only available to users, which means individuals who use our Services for personal reasons, and not for their business and profession. You must not use our Services for any business-related purposes, otherwise we may stop you from using the Services without any further responsibility to you. The Platform does not allow any payments from an individual to a business and from a business to a business.

8. Your conduct

8.1 By using the Platform, you agree not to upload, post, e-mail or otherwise send or transmit any material that contains viruses, Trojan horses, worms or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment associated with the Services or the Platform.

8.2 You agree and undertake to keep your user login details, User Login ID’s confidential, not to disclose your login details to any other person and not to permit any other person to log in to the Platform using your login details.

8.3 In the event that you want to grant another individual access to your account, you agree to set that individual up as an authorised user and grant them the necessary permissions on your account, as you see fit.

8.4 You agree not to interfere with the servers or networks connected to the Platform or to violate any of the procedures, policies or regulations of networks connected to the Platform, including these Terms of Service. You also agree not to:

8.4.1 attempt to reverse engineer or sell, export, license, modify, copy, distribute or transmit the Platform to any third party, or jeopardise the correct functioning of the Platform, or otherwise attempt to derive the source code of the software (including the tools, methods, processes and infrastructure) that enables or underlies the Platform;

8.4.2 attempt to gain access to secured portions of the Platform to which you do not possess access rights;

8.4.3 impersonate any other person while using the Platform;

8.4.4 conduct yourself in a vulgar, offensive, harassing or objectionable manner while using the Platform;

8.4.5 resell or export the software associated with the Platform;

8.4.6 use the Platform to generate unsolicited advertisements or spam;

8.4.7 use any automatic or manual process to search or harvest information from the Platform, or to interfere in any way with the proper functioning of the Platform.

8.5 You further agree to use the Platform only for lawful purposes.

8.6 From time to time, you may find links to third party websites on the Platform. These links are provided for your information only and are not recommended by Aspora. Aspora has no control over the content of third-party sites and accepts no responsibility or liability for them or for any loss or damage that may arise from your use of them. When accessing a third-party website, you are advised to check such website’s terms of service and privacy policy to ensure compliance with applicable laws.

9. Rewards expiry policy

9.1 All rewards offered through the Platform, including free transfers and cash rewards, are subject to expiration as outlined below:

9.1.1 Free Transfers:(a) Free transfers credited between the 1st and 7th of any month will expire at the end of the same month.(b) Free transfers credited from the 8th to the end of the month will expire at the end of the following month.

9.1.2 Cash Rewards:(a) Cash rewards earned in the current month will expire at the end of the seventh month, with the current month counted as the first month in the expiry period.

9.2 Please note that unused rewards cannot be redeemed or reinstated after their expiration date.

10. Refund policy

10.1 “Refund” means the return of funds by the Company to a Sender in respect of a Transaction that has been cancelled, declined, duplicated, unauthorised, not fulfilled in accordance with the agreed terms, or otherwise eligible for reversal under applicable law or these Terms of Service. A Refund shall be made to the same payment method or account from which the original payment was received, unless otherwise required by law or expressly agreed in writing.

10.2 Refunds may be granted only in limited circumstances and are subject to review under applicable UK law and our internal compliance procedures. You may be eligible for a refund if the funds have not yet been collected, withdrawn, or credited to the Recipient’s account, or if the transaction was executed in error, was duplicated.

10.3 All Refund requests must be submitted in writing to our customer support team within 14 calendar days from the date of the transaction. The request must include complete transaction details, including the unique transaction ID, amount, date, and beneficiary details. You may be required to provide identity verification documents and any other supporting evidence to assess the request.

10.4 Once the Refund request is received, we will investigate the Transaction and determine the validity of the Refund claim. This investigation may include checks against our Payment Partners, Recipient payout networks, and verification under our obligations to prevent money laundering and terrorist financing, in line with applicable laws and regulations.

10.5 If the Refund request is approved, the amount will be returned to the same payment method or account from which the original payment was received, net of any exchange rate differences, remittance fees, or third-party charges, unless otherwise mandated by law.

10.6 Refunds will typically be processed within 10 business days from the date of approval, although this may vary depending on your bank or card issuer. We reserve the right to decline Refund requests that are deemed frivolous, abusive, or made in bad faith. All decisions regarding refund eligibility are final and made at our sole discretion, in accordance with applicable UK regulations.

11. Chargeback policy

11.1 “Chargeback” is a reversal initiated by the cardholder through their issuing bank, typically to dispute an unauthorised or incorrectly executed card transaction. While customers have the right to dispute such transactions under applicable laws and regulations, we are available to assist you in investigating and, where appropriate, initiating a Chargeback request with your card issue.

11.2 We strongly encourage you to contact our customer support team as a first step. Many issues can be resolved quickly and efficiently without the need to escalate through external processes. If we determine that a transaction qualifies for a Chargeback under the applicable card scheme rules, we will support you in submitting the required documentation and guide you through the process.

11.3 Please note that if a Chargeback is initiated, we reserve the right to suspend your access to our Services while the matter is under investigation. We will submit relevant documentation to the acquiring bank and card network to defend legitimate transactions, including transaction logs, identity verification, and communication records.

11.4 If the Chargeback is found to be unfounded or deliberately fraudulent, we may recover all related losses and legal fees through appropriate legal or debt recovery channels. We may also report the incident to relevant regulatory authorities, including the FCA, and to financial institutions or card schemes where appropriate.

12. Our rights

12.1 In providing you with access to the Platform, Aspora reserves the following rights, and in accessing, browsing, or otherwise using the Platform you grant to Aspora and agree that we shall have the following rights:

12.1.1 the right to refuse or withdraw your access to the Platform in accordance with applicable laws for any reason at any time (with or without notice) if in our sole and absolute discretion you violate or breach any of these Terms of Service;

12.1.2 the right to amend or update the Platform from time to time;

12.1.3 the right to access any or all your accounts in order to respond to your requests for technical support so long as we maintain appropriate administrative physical and technical safeguards for the protection of the security and confidentiality and integrity of your data; and

12.1.4 the right to terminate without notice user accounts and delete any associated data if that account has been inactive or disabled for 365 days or more.

13. Ownership of data

13.1 Personal information about you (including without limitation your name, address, email address, telephone number, information found on your passport or driving licence and your likeness) shall at all times belong to you.

13.2 Following the principle of adequacy (or data minimisation), we will only request the personal data, or business-related data, required in relation to delivering the Service.

13.3 We may share some/all of the data you provide in your application with third-party companies for the purposes of:

13.3.1 electronically verifying the information you have provided;

13.3.2 sourcing further information, as part of the account on-boarding process;

13.3.3 This may involve a credit check being carried out on you, your directors, LLP members, partners, trustees, beneficiaries and/or beneficial owners (as applicable). This credit check will leave a soft-footprint on the relevant person’s credit history. By agreeing to these Terms of Service, you warrant that you consent and that you have obtained the consent of every such director, LLP member, partner, trustee, beneficiary and/or beneficial owner (as applicable) for such a credit check to be carried out.

13.4 Where necessary, you will be contacted via email, telephone or customer service chat feature, to provide certain additional documents to complete the AML/KYC checks and supporting documentation when making transfers where we deem it is important for monitoring of AML and Fraud.

13.5 Aspora is responsible for ensuring that Personal Data, collected for the purpose of delivering the Service, is collected, and processed in accordance with the relevant Data Protection Laws.

13.6 Aspora may contact you via social media and instant messaging and ask for your ‘consent’ before adding you to a channel or forum, for targeted marketing and sharing promotional content with you (for example, a reward scheme). You will always have the option to ‘opt-out’ of these channels or forums, if you feel that the content does not align with your interests, including any marketing promotion that may specifically be targeted at you (or a group of users of the Platform).

13.7 You will keep us up to date with any change to your Personal Data and will provide updated Personal Data as soon as possible following any such update and in any case upon request.

14. Intellectual property

14.1 Aspora and/or its licensor(s) are the sole owners of the Platform, which includes any software, domains, and content made available through the Platform. the Platform is protected by International copyright and other intellectual property laws.

14.2 We permit you to use the Platform for your own personal use subject to these Terms of Service and Aspora grants you a limited license solely for that purpose.

14.3 Without limitation, this means that you may not sell, export, license, modify, copy, distribute or transmit the Platform (or any part of it) without prior express written consent from Aspora. You may also not register any domain name that includes the words “vance” and/or “aspora”, infers that it relates to us or in any way could be deemed to have a negative impact on our reputation and/or business.

14.4 Any unauthorised use of the Platform will result in the automatic termination of the limited license granted by us. Aspora reserves the right to terminate the limited license without notice at any time following any unauthorised use by you of the Platform.

14.5 Aspora and its graphics, logos, icons and service names related to the Platform that are registered and unregistered trademarks or trade dress of Aspora. They may not be used without our prior express written permission.

14.6 All other trademarks not owned by Aspora that appear in connection with the Platform are the property of their respective owners, who may or may not be affiliated with, connected to or sponsored by Aspora.

14.7 You undertake and agree not to:

14.7.1 use any automatic or manual process to collect, harvest, gather, or extract information about other visitors to the Platform, users of the Platform and/or rates offered by our panel of contributing foreign exchange companies, or otherwise systematically extract data or data fields, including without limitation any financial and/or currency data or e-mail addresses; and

14.7.2 present, archive, cache, frame, scrape, or mirror any information and/or content from any part of the Platform within another web site, except with the express prior written permission of Aspora.

14.7.3 The foregoing prohibitions in this paragraph 14.7 expressly include, but are not limited to, the practice of “screen scraping”, or any other practice or activity the purpose of which is to obtain lists of data, portions of a database, or other lists or information from the Platform, in any manner or in any quantities not authorised in writing by Aspora.

15. Security

15.1 Whilst we have implemented commercially reasonable technical and organisational measures to secure your personal information and user content from unauthorised use, we cannot guarantee that unauthorised third parties will never be able to defeat those measures. You acknowledge that you provide your personal information and user content at your own risk.

15.2 We have made two-factor authentication (2FA) available for everyone on the Platform. This provides an extra layer of security for accessing services and provides additional evidence to the password alone, meaning attackers with a stolen password cannot access the online service and therefore we strongly recommend that all users activate this additional security feature. You are able to skip the activation and access the services without enabling 2FA, but in so doing you will accept full liability for the financial implications of any fraudulent transactions that occur without 2FA enabled on your account.

16. Communication and privacy

16.1 By using the Platform and/or material provided through the Platform and/or via the Services, you consent to receiving electronic communications and notices from Aspora. You agree that any notice, agreement, disclosure, or other communications that we send to you electronically will satisfy any legal communication requirements, including that such communications be in writing.

16.2 You provide us with information when you register as a user on the Platform. For the purpose of submitting your compliance application pack as part of our multi-broker introducer service, we may collect information relating to you (for example on your previous trade history). Any information that you submit or that we collect when you are using the Platform is subject to Aspora Privacy Policy, the terms of which are hereby incorporated into these Terms of Service.

17. Limitation of liability, disclaimer, and indemnity

17.1 Aspora provides the Platform “as is” and without any warranty or condition, whether express, implied, or statutory. Aspora specifically disclaims any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement. Aspora assumes no liability or responsibility for any errors or omissions on the Platform, any failures, delays, or interruptions in the Platform; any losses or damages arising from the use of the Platform; or any conduct by users of the Platform. We reserve the right to deliver the Platform in our sole and absolute discretion.

17.2 In no event shall Aspora, its shareholders, directors, officers, employees, or agents be liable (jointly or severally) to you for loss of use or any special, incidental, indirect, or consequential damages arising out of or in connection with the Platform or these Terms of Service, on any theory of liability, and whether advised of the possibility of damage. Aspora does not seek to exclude liability for death or personal injury caused by our negligence, or fraud or fraudulent misrepresentation on the part of Aspora. If any applicable authority holds any portion of this section to be unenforceable, then liability will be limited to the fullest possible extent permitted by applicable law.

17.3 From time to time, you may use or access services, promotions, and websites of third parties. In using or accessing third party services, promotions, and websites, you agree to be bound by the terms of service of such third parties governing their services, promotions and websites and hereby acknowledge that we shall not be responsible for the provision of services, accuracy of promotions or content of websites belonging or operated by third parties.

17.4 You acknowledge and agree that Aspora is not responsible for the accuracy of any information published on the Platform and does not warrant that any information appearing on the Platform is accurate, true or complete. Aspora is not responsible if incorrect quotes are published on the Platform. If you believe that any information appearing on the Platform is incorrect, you should inform Aspora of the information that you consider to be inaccurate and/or inform the user who posted the information that you consider it to be inaccurate in each case using the features provided for that purpose on the Platform. Aspora specifically excludes liability for any loss, harm, distress or damage suffered by you or any third party as a result of inaccurate information appearing on the Platform.

17.5 Aspora makes no representation that material on the Platform is appropriate or available at locations outside of the United Kingdom. By accessing the Platform from outside the United Kingdom, you represent and warrant to Aspora that your use and access of the Platform is in compliance with all applicable local laws.

17.6 You agree to indemnify and hold Aspora and its related companies, and each of their respective shareholders, directors, officers, employees, agents and merchant partners harmless from and against any third-party claim or cause of action, including reasonable attorneys’ fees and court costs, arising, directly or indirectly, out of your use of the Platform or your violation of any law or the rights of any third party.

18. Disputes

18.1 You agree that these Terms of Service and any claim, dispute or controversy arising out of in connection with these Terms of Service or their subject matter or formation (including non-contractual disputes or claims), the Services, the Platform, our advertising or any related transaction between you and Aspora shall be governed by and construed in accordance with English law.

18.2 Any dispute or claim arising out of or in connection with such matters (including non-contractual disputes or claims) will be subject to the exclusive jurisdiction of the courts of England and Wales.

19. Termination

19.1 Aspora may change or discontinue the Platform at any time without prior notice. We reserve the right to terminate these Terms of Service for any reason, without notice, and these Terms of Service shall automatically terminate in the event that you violate any of the Terms of Service set forth herein (with prejudice to our accumulated rights against you). In the event of any termination, you will immediately cease use of the Services and the Platform.

20. General

20.1 These Terms of Service are agreed between you and us. No person shall have any rights under or connection with these Terms of Service under the Contracts (Rights of Third Parties) Act 1999.

20.2 If any court or competent authority decides that any term of these Terms of Service is held to be invalid, unlawful or unenforceable to any extent, such term shall, to that extent only, be severed from the remaining terms, which shall continue to be valid to the fullest extent permitted by law.

20.3 Headings are for reference purposes only and in no way define, limit, construe or describe the extent or scope of such section.

20.4 Our failure to enforce any provision of these Terms of Service shall not constitute a waiver of that or any other provision and will not relieve you from the obligation to comply with such provision.

20.5 You are not permitted to assign, transfer, charge, sub-contract or deal in any other manner with all or any of your rights under these Terms of Service without our prior express written consent.

20.6 These Terms of Service set forth the entire understanding and agreement between you and Aspora with respect to the subject matter hereof.

20.7 You irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with these Terms of Service, their subject matter or formation (including non-contractual disputes or claims), the Platform.

21. Contact us

21.1 If you have any questions about these Terms of Service or the use of the Platform, please contact us at: Email: help@aspora.com