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General terms and conditions for money transmission services

General Terms and Conditions of Use for IYU EUROPE Money Transfer Services, a SAS with capital of € 500,000, registered with the Paris Trade and Companies Register under number 914 354 006, whose registered office is at 7 rue Debelleyme, 75003 Paris, authorised and supervised by the Autorité de Contrôle Prudentiel (4 pl de Budapest - 75009 - Paris).

The Customer and

IYU EUROPE, a simplified joint stock company with its registered office at 7 rue Debelleyme, 75003 Paris, France, registered in the Paris Trade and Companies Register under number 914 354 006 ("IYU EUROPE"), authorised on 29/07/2024 by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) as a payment institution under number 17798W, hereinafter referred to as the "Service Provider" on the other hand.

Warning: The Customer is invited to read these general terms and conditions carefully before accepting them. They should keep them or download them onto a durable medium. By default, communications with the Service Provider are always carried out via the Platform, in accordance with the terms and conditions set out in the General Terms and Conditions of the Website, except where a separate method of communication is provided for in the Contract.

Article 1: Definitions

In these general terms and conditions (hereinafter "the General Terms and Conditions"), the following terms are defined as follows:

  • the Agencies means the IYU EUROPE Branches listed on its website, including direct IYU EUROPE branches and the branches of its Payment Agents;
  • the Payment agents means the institutions authorised by IYU EUROPE to carry out payment transactions and which are registered with the Autorité de Contrôle Prudentiel et de Résolution ("ACPR") as IYU EUROPE's Payment Agent;
  • the Beneficiaries means a legal or natural person who is the creditor of a payment transaction issued by the Customer;
  • BIC is the Bank Identifier Code ;
  • the Credit card means a valid debit or credit card issued by a credit or payment institution approved by a supervisory authority in the European Economic Area, the holder of which is the Customer: Visa, MasterCard, CB ;
  • the Customer means the person validly authorised by IYU EUROPE to use the Service under the General Terms and Conditions;
  • Payment account or Account Payment Account: refers to the Payment Account held by the Service Provider on behalf of the Customer and used to carry out payment transactions. The Account may under no circumstances be treated as a deposit account. The Account is denominated in the currency indicated on the Site at the time of registration;
  • Confidential data The Customer's unique identifier and password, enabling them to access their personal space;
  • IBAN is the International Bank Account Number ;
  • Working Day means a calendar day excluding Saturdays, Sundays and public holidays in mainland France and any other day designated as such by the Service Provider;
  • the Payment partner means the IYU EUROPE partner institution located in an emerging country and involved in the IYU EUROPE fund transfer mechanism;
  • the Third-party partner means the partner of IYU EUROPE offering a service selected by IYU EUROPE to complete its offer and for which IYU EUROPE may, where applicable, be a payment agent within the meaning of the regulations;
  • the Parts means IYU EUROPE and the Customer;
  • the GNI means the bank details ;
  • the Service means the payment activity of IYU EUROPE, including the transfer of funds;
  • the Customer Service means the customer support service accessible at the following email address contact@iyu.plus ;
  • the IYU EUROPE website, IYU EUROPE website or the website refers to the website managed by IYU EUROPE;
  • The IYU EUROPE Application, the Application or the IYU EUROPE App means the IYU EUROPE mobile application available in the App Store and Google Play digital application shops
  • the Transaction or Operation means any transmission of funds initiated by the Customer where its destination is considered by the regulations in force to be a payment transaction.

Article 2: Purpose

These general terms and conditions of fund transmission services can be consulted at any time on the website (www.iyu.plus) and displayed in the branches. Their purpose is to define the conditions under which the Service Provider provides the Customer with background transmission services.

These background transmission services include :

  • Opening and managing a payment account
  • To the credit of the Payment Account: recording of funds transferred by Cards or by any other Payment Method accepted by the Service Provider; receipt of transfers.
  • On the debit side of the Payment Account: the execution of one-off or recurring Transfer Transactions, the deduction of fees due in application of the present Terms and Conditions, the reversal of transfers of funds by Card (or by any other means of payment).

The Account will not be subject to any overdraft, advance, credit or discount. The Service Provider does not offer any foreign exchange services. The Service Provider has appointed the Platform to facilitate the conclusion of this Agreement with each Customer and to assist them throughout their relationship with the Service Provider.

Article 3: Entering into a relationship

When entering into a relationship, the Customer provides IYU EUROPE with his/her contact details, a copy of his/her valid identity card, proof of address and any other document that IYU EUROPE may request.

Customers are also asked to provide the contact details of their beneficiaries as part of this process.

Once this data has been registered in IYU EUROPE's customer database and verified and authenticated as required by IYU EUROPE's regulations, the Customer is validated and can use IYU EUROPE's services thanks to an identifier and a password which will have been allocated to him/her. This identifier and password are confidential information for connection to a private personal space, i.e. access to which is exclusive and restricted to the Customer, within the IYU EUROPE App or the IYU EUROPE Website.

This connection also allows the customer to use the services offered by IYU EUROPE's third-party Partners, whether or not they are integrated into its platform. In this respect, each Customer must systematically consult and accept the general terms and conditions of sale applicable to the services of the said third-party Partners.

Article 4: Transfer of funds

The Transmittal of Funds operation consists of IYU EUROPE transferring the sums remitted by the Customer to IYU EUROPE's Payment Partner located in the country of destination of the operation, or making available to the Customer the sums received from the Payment Partner at the origin of the operation.

The Transaction can be carried out :

  • on the IYU EUROPE Application
  • on the IYU EUROPE website
  • in an Agency
  • at a Payment Agent ;

By agreement with IYU EUROPE, the Payment Partner may decide to retrieve the transaction sent as it goes along or at the end of the day. The payable status of the Transaction therefore depends on the frequency of information retrieval by the Partner.

It is understood that only bank working days for IYU EUROPE and each Payment Partner will be taken into consideration.

In accordance with Articles L.120-20-8 et seq. of the French Consumer Code, and in view of the specific nature of the money transmission transaction, the Customer expressly waives his right of withdrawal at the time of any transmission request, regardless of the medium used.

Article 5: Special conditions relating to the use of the iyu europe app and the iyu europe website

Use of the IYU EUROPE App and the IYU EUROPE Website implies compliance with these General and Special Conditions.

In order to connect to their secure area, Customers must enter a number of confidential details, the knowledge and possession of which are deemed to be exclusive and for which they are solely responsible. The connection procedure identifies, authenticates and secures requests for information and the execution of instructions. Entering this data identifies the Customer.

To initiate the Transaction, the Customer, after identifying him/herself, will be able to choose the desired service, its Beneficiary or Beneficiaries, the amount and calculate the applicable charges. After confirming this information, the Customer will be directed to a payment channel for the transaction, either by bank transfer or by bank card. If necessary, the Customer will be asked to enter confidential data, and may be redirected to pages managed by IYU EUROPE's service providers or by their own banking institution.

The Customer is presumed to be the holder of any means of payment used for the Operation, that is to say, any bank account from which a transfer is initiated or the bank Card used, and it is not up to IYU EUROPE to ensure this authentication; any conflict linked to the use of the bank account to initiate a transfer or the bank Card must be resolved respectively with the institution holding the account or the issuer of the card.

The Customer undertakes to pay the amount due for the Transaction initiated on the IYU EUROPE App or on the IYU EUROPE Website as well as the applicable fees. The Customer is informed that the holder of his/her bank account or the issuer of his/her bank Card may charge him/her additional fees when initiating a transfer from his/her bank account or using his/her bank Card to pay for the Transaction carried out on the IYU EUROPE App or on the IYU EUROPE Website.

By using the IYU EUROPE App or the IYU EUROPE Website, the Customer acknowledges being validly bound by the operations thus carried out.

This service may be supplemented, modified or withdrawn at any time without notice, in particular in response to technological and regulatory developments.

IYU EUROPE cannot be held responsible in the event of unauthorised, non-conforming or fraudulent use of the IYU EUROPE App or the IYU EUROPE Website or following a case of force majeure as defined in Article 10.

Article 6: Currency exchange

The use of the Service may involve the conversion of currencies. The currency is converted according to the current exchange rate communicated by IYU EUROPE.

The currency amount to be made available is indicated when the Customer initiates the Transaction. In principle, the funds will be made available in the legal tender currency of the recipient country. In certain countries, the Customer and/or the Beneficiary also have the option of selecting another currency for the issue or receipt of the Transaction. However, this option will be subject to specific invoicing by IYU EUROPE or its Partner. For further information, the Customer may contact IYU EUROPE Customer Service.

The exchange rate policy applied by IYU EUROPE is comparable to the exchange rates applied by other organisations offering these services to the public. The Customer can obtain all the information required on this policy from the IYU EUROPE Customer Service Department.

Article 7: Cancellation of a transaction

The Customer cannot revoke a Transaction once it has been executed and sent by IYU EUROPE to its Partner.

Article 8: Taxes

The Client acknowledges, accepts and assumes that IYU EUROPE has no control over the application of any tax during a Transaction. Consequently, it is the Client's responsibility to find out about the possible application of a tax depending on the nature of the planned transaction.

Article 9: Complaints

The Client may lodge a complaint with IYU EUROPE concerning an executed Transaction, in particular by presenting proof of the Transaction to which the complaint relates, as quickly as possible and within a limit of six months from the date of the Transaction, on pain of foreclosure.

The Customer will find all relevant instructions on the IYU EUROPE App or on the IYU EUROPE Website.

In accordance with ACPR recommendation 2016-R-02 of 14 November 2016, an acknowledgement of receipt will be sent by IYU EUROPE within a maximum of ten days. Complaints are processed in accordance with the deadlines set out in Article L. 133-45 of the Monetary and Financial Code.

Article 10: Customer liability

The Customer undertakes to take all reasonable steps to maintain the security of the Service and to use it in accordance with these conditions and the regulations in force.

The Customer also undertakes to take all measures aimed at preserving the confidentiality of his confidential information necessary for the use of the Service, in particular his connection information to his private personal space on the IYU EUROPE App or the IYU EUROPE Website.

The Customer is obliged to use the Service in accordance with its purpose, and, assumes all the consequences of a use in particular nonconforming, fraudulent under the conditions defined by Article 10. The Customer is obliged to inform IYU EUROPE as soon as possible of the loss, theft or any unauthorised use of his/her confidential information required to use the Service or to connect to his/her private personal space.

To do so, the Customer may contact IYU EUROPE Customer Service or follow the appropriate instructions on the IYU EUROPE App or on the IYU EUROPE Website. The Customer will not be held responsible for any operations and/or instructions initiated after confirmation of receipt of this information by IYU EUROPE.

Upon completion of each Transaction carried out on the IYU EUROPE App or on the IYU EUROPE Website, the Customer accesses a receipt available on his/her private personal space, which he/she also undertakes to keep in order to ensure proof of the Transaction.

When each Transaction is carried out at the counter, the Customer receives a receipt which he undertakes to keep as proof of the Transaction.

The confidential information required to use the Service and in particular to connect to the private personal space is strictly personal and the Customer undertakes not to divest it, even temporarily, to anyone whatsoever.

Article 11: Liability of iyu europe

11.1 IYU EUROPE is responsible for the correct execution of the Transactions carried out by the Client. However, IYU EUROPE limits its liability to direct damages in the case of proven fault on the part of the client. In any case, the liability of IYU EUROPE is limited to the amount of the fees paid by the Client on the Transaction where its liability is proven.

IYU EUROPE declines all responsibility:

  • for any indirect damage or non-material loss;
  • in the event of reasonable suspicion that the Transaction is illegal or unlawful;
  • in the event of non-performance of one of its obligations under the General Terms and Conditions, if such non-performance is due to a fortuitous event or force majeure.

The following are expressly considered to be cases of force majeure or fortuitous events, in addition to those defined by the regulations and case law of the French courts: strikes, industrial disputes, epidemics recognised as such by the World Health Organisation (WHO), blockage of means of transport or supply, earthquakes, fire, storms, floods or any other natural disaster, war, whether declared or not, coup d'état, acts of terrorism, governmental or legal restrictions, blockage of telecommunications, in particular the operators' networks;

  • if the Customer has provided IYU EUROPE with the Beneficiary's non-existent or erroneous bank, payment account or Mobile Money (Wallet) account details (RIB or BIC code and IBAN number, telephone number) and which, in particular, have led to the Transaction being carried out for the benefit of someone other than the Beneficiary designated by the Customer.
  • In the event that IYU EUROPE is responsible for the non-execution or poor execution of a Transaction, and unless otherwise instructed by the Customer, IYU EUROPE will, as the case may be :
    • places the Customer in the state he was in before the transaction was carried out;
    • executes the Transaction to the Partner.

IYU EUROPE applies an obligation of means to trace an incorrectly executed or non-executed Transaction and informs the Client of the results of its research. In the event that the Client has communicated non-existent or erroneous bank, payment account or Mobile Money (Wallet) account details of the Beneficiary, IYU EUROPE will endeavour, as far as possible, to recover the funds involved in the Transaction. In the latter case, IYU EUROPE may charge the Client a recovery fee, the amount of which will be communicated to the Client in advance.

11.2 In the event that the Client disputes having authorised a Transaction, it is up to IYU EUROPE to prove by any means that the Transaction was authenticated, recorded, accounted for and subject to no technical or other failures.

The Customer shall not be held liable if the unauthorised Transaction was carried out by misappropriating, without the Customer's knowledge, the confidential data required to use the service;

In all cases, unauthorised Transactions will not be refunded if the Customer :

  • acted fraudulently ;
  • has intentionally failed to fulfil its obligations or has been grossly negligent in fulfilling them;
  • reported unauthorised Transactions more than six months after they were carried out.

Article 12: Pricing conditions

The tariff conditions applied to the Customer are attached and available on the IYU EUROPE App, on the IYU EUROPE Website, in the Agencies and at the Payment Agents. The tariff conditions can be made available in the form of a simulation of Transaction fees, notably on the IYU EUROPE App, on the IYU EUROPE Website.

Article 13: Duration and termination

These General Terms and Conditions are entered into for an indefinite period.

The Customer may terminate the General Terms and Conditions at any time, subject to thirty (30) days' notice being given by hand-delivered letter to IYU EUROPE or by registered letter with acknowledgement of receipt.

IYU EUROPE may terminate its relationship with the Customer at any time, subject to thirty (30) days' notice being given by hand-delivered letter to the Customer or by registered letter with acknowledgement of receipt.

By way of derogation, these General Terms and Conditions may be terminated by IYU EUROPE without observing the notice period mentioned above in the following cases:

  • in the event of the transmission of false or falsified information, documents or declarations of any kind by the Customer ;
  • in the event of the Customer's death ;
  • in the event of serious breach of these General Terms and Conditions.

Termination has the following effect:

  • prohibit any future use of IYU EUROPE Services;
  • cancellation of Transactions in progress, less any applicable fees.

Article 14: Changes to the General Terms and Conditions

Changes in regulations may affect the clauses of the General Terms and Conditions.

In this case, the modifications will take effect on the date of application of these measures without any particular intervention by IYU EUROPE with regard to the Customer.

IYU EUROPE also reserves the right to modify the General Terms and Conditions and will inform the Customer in writing (paper or electronic) of such modifications thirty (30) days before they come into force.

If the Customer does not contest these changes within thirty (30) days of receiving this communication, he/she accepts them.

In the event of a dispute by the Customer, the latter has the right to terminate these General Terms and Conditions at no cost (see Article 13).

Article 15: Combating money laundering and the financing of terrorism

Under penalty of law, IYU EUROPE is bound by an obligation of result with regard to its duty of vigilance concerning transactions carried out by the Customer.

In application of these regulations and of its own policy to combat money laundering and the financing of terrorism, the Customer is informed that IYU EUROPE may be required to :

  • refuse to carry out certain operations ;
  • declare certain transactions carried out by the Customer to the competent authorities;
  • suspend its use of the Service;
  • terminate these General Terms and Conditions.

Article 16: Professional secrecy

In accordance with Article L. 511-33 of the French Monetary and Financial Code, IYU EUROPE is bound by professional secrecy.

However, this confidentiality may be lifted, in accordance with the law, at the request of the supervisory authorities, the tax or customs authorities or the judicial authorities acting in the context of criminal proceedings.

As an exception to the obligation of professional secrecy, the Customer authorises IYU EUROPE to communicate any useful information concerning him to any person whose intervention is necessary for the execution of the General Conditions.

Article 17: Miscellaneous

17.1 It is agreed that the invalidity, unenforceability, illegality, ineffectiveness or impossibility of implementing any provision of these General Terms and Conditions shall in no way affect the validity, enforceability, legality, effectiveness and implementation of its other provisions, which shall continue to apply.

17.2 No delay or abstention by either Party in implementing the General Terms and Conditions shall constitute a waiver of the benefit of any provision of these General Terms and Conditions. Similarly, the one-off or partial exercise of any of the rights or remedies which the Parties may have under the General Terms and Conditions shall not prevent the subsequent or different exercise of these rights or remedies.

17.3 IYU EUROPE reserves the right to transfer in any form, in whole or in part, these General Conditions to a company, entity affiliated to IYU EUROPE or to a third party at any time and without the prior consent of the Customer.

The Customer is prohibited from transferring in any form whatsoever, in whole or in part, these General Terms and Conditions without the prior written consent of IYU EUROPE or one of its successors as indicated above.

Article 18: Protection of personal data (RGPD)

In the context of the application of the European General Data Protection Regulation (RGPD), IYU EUROPE certifies that the personal data of Customers collected in the context of this agreement are confidential and processed in a lawful, fair and transparent manner.

It is used for the purposes of implementing the Service on the one hand and, on the other hand, with a view to meeting the legal requirements applicable to the profession of Payment Institution, particularly in terms of the Fight Against Money Laundering and the Financing of Terrorism. In this respect, it may be transferred to our service providers and to the payment institution supervisory authorities.

The Customer has a right of access and rectification, as well as a right to the deletion, limitation of processing and portability of data concerning him/her. They may also exercise their right to object to data being processed for canvassing purposes. However, the Customer is informed that if the exercise of one of these rights makes it impossible to continue the relationship with IYU EUROPE, in particular by contravening the legal and regulatory provisions applicable to Payment Institutions, IYU EUROPE will be authorised to terminate the present Terms and Conditions.
general.

These rights may be exercised at any time with IYU EUROPE's Compliance and Internal Control Manager, who may be contacted by post at 7 rue Debelleyme 75 007 Paris or by email: DPO@iyu.plus. Unless the Customer objects, this information may be used by IYU EUROPE and/or its commercial partners for prospecting purposes.

Article 19: Mediation

In accordance with article L 315-1 of the French Monetary and Financial Code, IYU EUROPE has appointed a mediator. Referrals to the mediator must be made in writing in French and are free of charge.
The mediator may be called upon for any dispute relating to the Service existing between IYU EUROPE and its consumer clientele, i.e. "any natural person acting for purposes that do not fall within the scope of his or her commercial, industrial, craft, liberal or agricultural activity", excluding disputes with legal entity clients.

Prior to referring the matter to the mediator, the Customer must make every effort to explain the dispute to the management of IYU EUROPE. The mediator rules within two months of the referral and issues recommendations. Prescription is suspended during this period.
As a member of the French Association of Payment and Electronic Money Institutions (AFEPAME), IYU EUROPE has chosen to delegate the mediation function to the AFEPAME mediator, who can be contacted at the following address: https://mediateur-consommation-afepame.fr/

Article 20: Applicable law and jurisdiction

These General Terms and Conditions are governed by French law. In the event that the General Terms and Conditions are translated into another language, only the French version shall prevail. Any dispute arising from the interpretation or performance of the General Terms and Conditions (including any dispute concerning the existence, validity or termination thereof) shall be subject to the exclusive jurisdiction of the French courts.

Version dated 28 August 2024

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