Azlo bank international transfer agreement
International Transfers Subject to the following terms and conditions, you may use this Service to remit funds to a pre-designated beneficiary at one of our remittance network members (the “Remittance Network Member” or “Beneficiary Bank”), as determined by us, and only for commercial purposes, and never for personal, family or household purposes. “Beneficiary” means the pre-designated beneficiary you have specified in a Beneficiary Designation Form on the Azlo Website . “Business Day” means Monday through Friday, except for federal holidays in the United States. “Remittance” means the international electronic money transmission made through the Service. The Service The Service allows you to send funds electronically from your Azlo Account to a Beneficiary for credit to the Beneficiary’s account at the designated Remittance Network Member. Establishing the Service Before using the Service, you must provide information about each Beneficiary to which you wish to remit funds. Remittance may be initiated through the Azlo Website. All transactions are subject to applicable federal, state and local laws and regulations of the United States and the destination country, as well as Azlo and BBVA Compass (and any of their service ● To act as your representative or agent when following your instructions or researching any Remittance that occurs as a result of your instructions. You represent and warrant that you have all necessary legal right, power and authority to debit funds from your account. You agree to provide documentation supporting the source of funds remitted using the Service, if such documentation is requested by Azlo or us. Sending Remittances When completing information about a Beneficiary, you must provide certain details which may include: the name, address, phone number, and, if available, the email address of your Beneficiary, and the Remittance Network Member to which your funds should be sent, plus any additional information that may be specified in our application. The full physical address of your Beneficiary must be provided and it must be located in the country to which your Remittance is to be sent. Post Office Box addresses are not allowed. If you provide an incorrect account number or recipient institution identifier, or otherwise incorrectly identify the account to which funds should be deposited, and the incorrect information results in the funds being deposited into the wrong account, you could lose the transfer amount. Deposit to Account: For the funds to be credited to an account, you must provide the Beneficiary’s qualifying account number. The Beneficiary’s name you provide must be exactly as it appears on the account records at the Remittance Network Member. You understand that when you indicate a Remittance Network Member to which your Remittance is to be sent, that BBVA Compass will cause the funds to be transferred to the named Remittance Network Member for credit to the account number which you have designated. We will act on your request on the day the request is received, unless we inform you otherwise or if we require additional information from you or your Beneficiary to enable completion of the transfer. Insufficient Funds in a Payment Account You agree that you will only submit a Remittance request when there are sufficient funds in your account to cover the Remittance amount plus any other items or charges to be paid from your account. If there are insufficient funds in your account, we have no obligation to process or transmit the Remittance. Changes to your Personal or Beneficiary Information If you want to update or change your personal or Beneficiary information, you can do so through the Azlo Website or by calling Customer Service at 1-844-295-6466. Security Procedure When enrolling in the Azlo Website, you were required to select or create one or more alphanumeric passwords, usernames, questions with a matching answer, and/or other types of security techniques (“Security Codes”). You must provide the correct Security Codes as the security procedure to access and use the Service. You agree to use the appropriate security procedure when initiating Remittance requests. The purpose of the security procedure is to verify the authenticity of Remittance requests delivered to us in your name and not to detect errors in the transmission or content of the request. You represent and warrant each time you initiate a Remittance request that the security procedure is a satisfactory method of verifying the authenticity of Remittance requests. If you allow any person to obtain or to use your Security Codes, you will have authorized that person to access your accounts, and you agree that you are responsible for any transactions that person initiates or authorizes from your account and will be bound by any agreements that person accepts or acknowledges electronically through the Service. You agree we may act on any Remittance requests the authenticity of which we have verified through use of the security procedure. If your Security Codes have been lost or stolen, please notify us at once by calling 1-844-295-6466. Limitation of Liability Neither Azlo, BBVA Compass, nor any of their offices, branches, correspondents, other instrumentalities, present and former agents, directors, officers, shareholders, employees, attorneys, insurers, parent companies, subsidiaries, affiliates, predecessors, successors, assigns, trustees, or service providers, shall be liable for any loss or damage resulting from errors or delays in the transmission or delivery of messages, documents or instructions, or failure of transmission or delivery thereof, or resulting from failure to locate or error identifying the named payee or resulting from declared or undeclared war, censorship, blockade, revolution, insurrection, civil commotion, or from any law, decree, moratorium, regulation, compulsion or control of public authority or of domestic or foreign government, de jure or de facto or any agency thereof, whether in connection with a Remittance or with any transfer undertaken by us for the purpose of making available such foreign exchange as may be called for to meet a Remittance request, all such risk being assumed by you, unless any such damage is determined to be solely our fault or solely the fault of our agent. In the event of any non-delivery, non-payment or underpayment, your maximum remedy against Azlo or us is a refund of the amount of the principal, plus any service fee you paid. In no event shall Azlo or BBVA Compass have any liability whatsoever for any indirect, incidental, consequential, punitive or special damages for any reasons whatsoever, even if advised of the possibility of such damages. We will not be responsible for the acts or omissions of any other persons or entity, including but not limited to any processor, any country’s central bank, or any other financial institution and no such person or entity will be deemed our agent. We will not be liable for and will be excused from any failure or delay in performing our obligations for the Service if such failure or delay is caused by circumstances beyond our control, including any natural disaster (such as earthquakes or floods), emergency conditions (such as war, riot, fire, theft or labor dispute), civil unrest, legal constraint or governmental action or inaction, breakdown or failure of equipment, breakdown of any communication or transmission facility, or your act, omission, negligence or fault. Terms and Fees of Receiving Remittance Network Member For Remittance credited to an account, your Beneficiary must open and maintain a qualifying deposit account with the Remittance Network Member. This account is subject to the terms and fees, as amended from time to time, applicable to the account as determined by the Remittance Network Member. Neither Azlo nor BBVA Compass is responsible for payment of any fees, charges or taxes imposed by a Remittance Network Member or by the government or any taxing authority of the destination Country. Some cou
ntries have restrictions that prohibit or limit minors from performing certain financial transactions. Before naming a minor as beneficiary of a remittance payment, it is your responsibility to ensure the individual has legal capacity to receive funds remitted to the designated Remittance Network Member. Fees There are no transfer fees for the use of the Service. Please see your Remittance Receipt for the amount of any known taxes charged for a particular transaction. As more fully described below, Azlo and/or BBVA Compass (and their service providers) may obtain a monetary gain from the foreign exchange conversion of some transactions represented by the difference in the retail exchange rate and the wholesale exchange rate at which Azlo or BBVA Compass (and/or their service provider(s)) purchases the foreign currency. Transaction Limits There are limits on the amount of money you can send through the Service. Such limits may include, but are not limited to, minimum and maximum per transfer limits, aggregate daily limits, and aggregate 30-day limits. We may adjust the limits from timeto-time in our sole discretion. The applicable limits may be displayed to you on the Azlo Website when using the Service. Some Remittance Network Members may have additional limits on the amount any one beneficiary can receive from any source or combination of sources during a specified time frame. We are not responsible where your remittance is rejected by the Remittance Network Member because it would exceed one or more of the limits imposed by the Remittance Network Member on amounts that can be received by the beneficiary. You may call Customer Service at 1-844-295-6466 for current Beneficiary limits by Remittance Network Members. These limits are subject to change from time to time at the discretion of the Remittance Network Members and without prior notice. Rejection of Remittance Requests We may reject any Remittance request that exceeds the applicable limit, or for any other reason at our sole discretion. Any notice of rejection (whether given orally, electronically or in writing) is effective when given. We are not liable to you for the rejection or obligated to pay you interest for the period before you receive the notice of rejection. Funds Conversion to Remittance Currency For non-U.S. Dollar Remittance, the amount to be sent to your Beneficiary will be converted from U.S. Dollars to the Remittance currency at a rate determined by Azlo (or its service providers) to arrive at the Remittance currency amount. We will transfer to the Remittance Network Member the Remittance currency amount, and are not responsible for payment of any fees, charges or taxes imposed by the Remittance Network Member. The foreign exchange rate used to convert customer funds to a Remittance currency other than U.S. Dollars is a retail exchange rate. We obtain the foreign currency for these transactions at a wholesale exchange rate that fluctuates frequently, but may approximate the wholesale exchange rate listed for such currency in newspaper and online information services. Any conversion difference between the retail exchange rate and the applicable wholesale exchange rate will be retained by Azlo or BBVA Compass as revenue. For the current foreign exchange rate, contact Customer Service at 1-844-295-6466 or support@azlo.com. Whether in connection with the actual Remittance or in connection with any transfer undertaken by us for the purpose of making available such foreign exchange as may be called for to meet a Remittance request, all such risks are assumed by you, unless any such loss or damage is determined to be our fault, and then only to the extent of the amount of U.S. funds transmitted as of the date of transmission. Cancellation Unless the funds have already been picked up or deposited, you may request that we cancel a Remittance transfer you have initiated. We will make a reasonable effort to act on your request, but we are not liable to you if for any reason the Remittance is not cancelled. You may request cancellation through the Azlo Website. You may also contact us at 1-844-295-6466 or support@azlo.com to request cancellation. When you contact us, you must provide us with information to help us identify the Remittance you wish to cancel, including the amount and location where the funds were sent. If a Remittance is cancelled, we will refund any amounts owed to you within three (3) business days after we received your request to cancel. Customer Service Inquiries For inquiries or error resolution, you can submit an inquiry on the Azlo Website or call Customer Service at 1-844-295-6466. If you think there has been an error or problem with your remittance transfer: ● Write support@azlo.com; or ● Call us at: 1-844-295-6466 You must contact us within 180 days of the date we promised to you that funds would be made available to the recipient. When you do, please tell us: 1) Your name and address; 2) The error or problem with the transfer, and why you believe it is an error or problem; 3) The name of the recipient and, if you know it, the recipient’s telephone number or address; 4) The dollar amount of the transfer; and 5) The confirmation code or number of the transaction. We will determine whether an error occurred within ninety (90) days after you contact us and we will correct any error promptly. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. Termination We may terminate the Service and/or your access to the Service anytime and for any reason, without notice. Any Remittance we have already processed before the termination date will be completed. You are responsible for any Remittance initiated by you prior to termination. Termination will not affect your liability or obligations under this Agreement for Remittance we have processed on your behalf.