Real Transfer Limited (With Thunes)

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”).

Aspora has entered into a partnership with Transferto Mobile Financial Services Limited, trading under the name of Thunes, as the designated Regulated Payments Partner as the exclusive provider for remittance services.

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

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 Aspora 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 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 the Platform with immediate effect.

2. Services

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

2.2. 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 / business 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), as mentioned in Clause 8.7.

2.3. 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), for the purposes of your onboarding on the Platform.

2.4. Acceptance and activation of any User is at the sole discretion of the Regulated Payment Partner(s).

2.5. When a Regulated Payment Partner(s) activates your account, you can only access this service via Platform. Aspora log-in details do not provide direct access to any Regulated Payment Partner(s) online platform.

2.6. We are not a foreign exchange broker or intermediary of any kind. We do not exchange currency or make physical delivery of foreign currency. We are not parties to any transactions and have no, and assume no, control over the legality, compliance or other aspects of any transactions originated by means of the Platform.

2.7. Transactions booked via Platform are booked directly with the Regulated Payment Partner(s). We have agreement(s) with the Regulated Payment Partner(s) to earn a fee from every transaction booked via Platform.

2.8. Student Program: Aspora has introduced a NRI student-exclusive program whereby students may avail discounts on Transactions booked via the Platform. Any student who wishes to qualify for discount transfers through the Platform must complete the following requirements:

2.8.1. the student must be under 26 years of age (discounts cease upon turning 26);

2.8.2. the student must verify their student status on the Aspora Mobile app using a university email;

2.8.3. the student must meet the standard due diligence checks including, but not limited to, Know Your Client (KYC) and Anti-Money Laundering (AML), for the purposes of being onboarded on the Platform;

2.9. At present students may avail discounts only for payment transfers made to savings accounts in India. Any payment transfers to NRE/NRO accounts are specifically excluded from the ambit of discount transfers. The final decision regarding the eligibility for discount transfers rests with Aspora.

3. Acceptance of Terms of Service

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

3.2. 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.

3.3. 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.

3.4. 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.

3.5. 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.

4. Limitations on use

4.1. 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.

4.2. 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.

4.3. 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.

5. Your conduct

5.1. 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.

5.2. 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.

5.3. 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.

5.4. 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:

5.4.1. 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;

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

5.4.3. impersonate any other person while using the Platform;

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

5.4.5. resell or export the software associated with the Platform;

5.4.6. use the Platform to generate unsolicited advertisements or spam;

5.4.7. 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.

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

5.6. 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.

6. Rewards expiry policy

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

6.1.1. 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.

6.1.2. 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.

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

7. Our rights

7.1. 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:

7.1.1. 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;

7.1.2. the right to amend or update the Platform from time to time;

7.1.3. 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

7.1.4. 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.

8. Ownership of data

8.1. 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.

8.2. Trade Information derived from any trade that you execute through one of our contributing foreign exchange companies will belong to the Regulated Payment Partner(s). As part of our relationship with our panel of Regulated Payment Partner(s), they are required to provide us with such trade-related information for the purposes of:

8.2.1. enabling us to track the amount of commission payments due to us;

8.2.2. improving our services to you by tailoring the Platform to your requirements;

8.3. Each time you trade with one of any Regulated Payment Partner(s) on the Platform, you give permission for the Regulated Payment Partner(s) to disclose personal information and transactional information to us for the reasons given above.

8.4. 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.

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

8.5.1. electronically verifying the information you have provided;

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

8.5.3. 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 individual listed above for such a credit check to be carried out.

8.6. 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.

8.7. On completion of a full Client Profile, required by our Regulated Payment Partner(s) to activate your trading account, all of the data you have provided, along with any additional data sourced from the public domain, or third-party data providers to complete a full Client Profile, will be shared with the relevant Regulated Payment Partner(s) to deliver the Service.

8.8. Both Aspora and Thunes are 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.

8.9. 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.

8.10. 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.

9. Intellectual property

9.1. 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.

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

9.3. 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” 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.

9.4. 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.

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

9.6. 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.

9.7. You undertake and agree not to:

9.7.1. 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

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

9.7.3. The foregoing prohibitions in this paragraph 9.7 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.

10. Regulated Payment Partner(s)

10.1. As mentioned above, Aspora has partnered with Thunes as the exclusive provider for remittance services. Some payment transactions undertaken by Aspora may be processed through Thunes’ platform.

10.2. Aspora shall not be liable to you in the event that any Regulated Payment Partner(s) refuses to honour any quote through the Platform.

11. Security

11.1. 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.

11.2. 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.

12. Communication and privacy

12.1. 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.

12.2. 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 both relating to you (for example on your previous trade history) and your business. 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.

13. Limitation of liability, disclaimer, and indemnity

13.1. 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.

13.2. 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.

13.3. 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.

13.4. 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.

13.5. 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.

13.6. 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.

14. Disputes

14.1. You agree that these Terms of Service and any claim, dispute or controversy arising out of or 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.

14.2. 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.

15. Termination

15.1. 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.

16. General

16.1. 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.

16.2. 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.

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

16.4. 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.

16.5. 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.

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

16.7. 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.

17. Contact us

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