EBANX Merchant Terms

Updated on 3rd November 2021

These terms and conditions (Terms) apply to your EBANX Balance and you should read them carefully. 

Your EBANX Balance is operated by EBANX Limited (registered number 08649018), with registered office at 16 Beech Way, Wheathampstead, St. Albans, England, AL4 8LY UK and authorised by the Financial Conduct Authority (reference: 900847) for the issuance of electronic money and provision of payment services.


  1. In these Terms the following words and expressions have the following meanings:
    API: the application programming interface provided by us.App:  the EBANX smartphone application on which you will be able to open your EBANX Balance and EBANX Dashboard and carry out Transactions.Business Day: means a day other than a Saturday, Sunday or a public holiday in England when financial institutions in London are open for business.Customer Services: may be contacted via email at support@ebanx.uk or directly via the App or your EBANX Dashboard.EBANX Balance: the Funds account you have opened with us in accordance with these Terms.EBANX Dashboard: the personalised area within the App or Website where you can manage your EBANX Balance and which only you and the appropriate authorised persons will have access to.Funds: the electronic money stored in your EBANX Balance, which we create on receipt of your funds.

    Fees: the agreed fees that we charge to you for using our services, as set out in your EBANX Dashboard.

    Limits: the monetary and time limits that we impose on the amounts that can be Loaded and/or Transferred to or from your EBANX Balance from time to time.

    Load/Loading/Loaded: the loading of Funds onto your EBANX Balance in accordance with these Terms.

    Permitted Currency/ies: USD or any other currencies that we permit from time to time on the EBANX Dashboard

    EBANX Dashboard: the EBANX Payment Processing Dashboard area within the App or Website where you can access your EBANX Balance and authorise Transactions.

    Services:  means all products, services, content, features, technologies, or functions offered by us and all related websites, applications (including the App), and services (including the Website and API).

    Target Currency: the currency which your recipient will receive.

    Terms: these terms and conditions as amended from time to time.

    Transaction: a Load, Withdrawal or Transfer (as the case may be).

    Transfer: your sending of available Funds in the Permitted Currencies to permitted third-party payment accounts held at a regulated financial institution by following the instructions on your EBANX Dashboard.

    We/us/ours: EBANX Limited.

    Website: means any webpage, including but not limited to  https://www.ebanx.uk/, where we provide the Services to you.

    Withdraw/Withdrawal: a redemption of Funds from your EBANX Balance into a bank account held in your name in the Permitted Currencies.

    You/your: the business entity which has opened an EBANX Balance with us by agreeing to these Terms.

These Terms

  1. You can always see the most current version of these Terms on our Website. If you want a paper copy of these Terms, please contact Customer Services.
  2. If we make changes to it that are clearly in your favour, we’ll tell you once we’ve made them. Otherwise we’ll give you two months’ notice and if you don’t agree to the changes, you can terminate your EBANX Balance via your EBANX Dashboard.
  3. By visiting our Website and/or using our Services (including downloading and using our App, or via the API) you confirm that you accept and agree to these Terms.  If you do not agree, please do not use our Services.

Applying for your EBANX Balance

  1. To register with us and open an EBANX Balance you must:
    1. be a qualifying business entity (rather than an individual consumer);
    2. confirm that you have authority to bind any business or entity on whose behalf you are opening the EBANX Balance;
    3. provide copies of all due diligence information that we request from you;
    4. accept our privacy and cookies policy;
    5. not be a business that is associated with gambling, virtual currencies, non-profit organisations or any product/service listed in our Restricted and Prohibited Products and Services List (as updated on the Website from time to time).
  2. You confirm that your opening and/or using an EBANX Balance and our Services does not violate any laws applicable to you and you take responsibility for any breach of these.
  3. Before we can offer our services to you and for the duration of these Terms, we may carry out checks on you electronically and also request further documentary evidence to verify this information. We may also use third parties to obtain this information and carry out checks on our behalf, which may include using credit reference agencies. However, a credit check is not performed, and your credit rating will not be affected.
  4. You warrant and guarantee that all the information you provide to us in relation to these Terms is true and accurate. You must notify us immediately if there is a change in the information you supply us with via your EBANX Dashboard.
  5. We reserve the right to refuse applications to open an EBANX Balance for any reason (including your geographical location), or we may apply restrictions before we allow you to open it.
  6. In order to use the App, your mobile device should support the minimum technical requirements for its installation (including Apple App and Google Play requirements).
  7. If you are a a business other than a micro-enterprise), you agree that the following regulations in part 7 of the Payment Services Regulations 2017 do not apply to these Terms: 40 to 62, 66(1), 67(3), 67(4), 75, 77, 79, 80, 83, 91, 92 and 94.

Communicating with You

  1. We’ll usually communicate with you via the EBANX Dashboard, which you should check regularly.
  2. To help keep your EBANX Balance safe, download the latest software and version of the App as soon as it is available.
  3. We may also communicate with you by text message or email, so you should regularly check your text messages and email inbox.
  4. We’ll usually communicate with you in English.


Your EBANX Balance, Transactions & Limits

  1. Funds may be Loaded to your EBANX Balance by direct bank-transfer from a bank EBANX Balance designated in the Permitted Currencies only.
  2. You may view your Transaction history and Funds balance via your EBANX Dashboard.
  3. You must ensure that you have sufficient available Funds to carry out any Transaction you wish to make. Some Transactions that would take your available balance below zero may still go through and if that happens, we’ll let you know the amount you’ll need to repay us before the end of the day: we may block your EBANX Balance if such a negative balance is not rectified.
  4. You will not earn any interest on your Funds, which are  not covered by the Financial Services Compensation Scheme but shall be safeguarded by us, which means that they are kept separate from our assets in ring-fenced bank accounts so that in the unlikely event we become insolvent, your Funds will remain safe from our creditors. Your Funds are also protected from any interest or rights of set-off from our banking partners.
  5. We regularly carry internal and external audits to demonstrate that We are  safeguarding your funds in compliance with the applicable laws.
  6. You are responsible for any taxes which may be applicable to your Transactions, and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.


  1. Withdrawals of your Funds must be to a bank account held in your name by requesting this via your EBANX Dashboard.
  2. Agreed frequencies of Withdrawals may be set in advance via the EBANX Dashboard.
  3. Authorisation of a Withdrawal may not be withdrawn (or revoked) after we have received it.

Transfers: sending Funds

  1. You can set up payment orders via your EBANX Dashboard.
  2. You must have sufficient Funds in your EBANX Balance in order to carry out the payment order.
  3. You may send a fixed amount of funds in permitted Currency to your recipient, who will receive the converted amount in a permitted Target Currency.
  4. If a recipient’s bank EBANX Balance name does not correspond to other details provided (e.g. tax ID number), then we shall not process the payment order.
  5. We may place Limits on the amount you may send per transfer in advance of each transfer.
  6. If your payment order is received by us after 5pm on a Business Day or not on a Business Day, your payment order will be deemed received on the following Business Day.
  7. Each payment order is given a unique reference number which you can see on your EBANX Dashboard: please quote this number when communicating with us about a particular payment order.
  8. The estimated completion time of your payment order shall be notified to you on the EBANX Dashboard when you complete the setup of your payment order.
  9. Although we will use reasonable efforts to ensure that the funds are transferred to the recipient within the indicated timelines, please note that we do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient.
  10. You may cancel your payment order via your EBANX Dashboard within 6 hours of making the request.
  11. Any payment orders that are refused by a payee shall be returned to your EBANX Balance as soon as reasonably possible.
  12. You must ensure that the information you provide when setting up a payment order is accurate and we shall bear no liability due to any incorrect information you provide.
  13. If you provide incorrect information with your payment order, we will use reasonable efforts to recover the funds, and may need to charge you a Fee for that.

Receiving Funds

  1. You can receive funds into your EBANX Balance using methods which we support from time to time.
  2. Any funds you receive into your EBANX Balance will be recorded in your transaction history viewable on the EBANX Dashboard.
  3. You acknowledge that the funds received in your EBANX Balance may be subject to reversal and agree that we may deduct such reversed amounts from your EBANX Balance if it was reversed by the person who paid you such funds or any relevant payment services provider.

Exchange Rates

  1. We will let you know the applicable exchange on your payment order at the time that you place it with us on the EBANX Dashboard.
  2. The exchange rate referred to in these Terms means the mid-market exchange rate for the relevant USD to Target Currency conversion as provided by our partner banks.
  3. We may change our reference rate provider from time to time without notice to you.

Suspending your EBANX Balance or declining Transaction

  1. We may at any time suspend, restrict or cancel your EBANX Balance for the following reasons:
    1. we are concerned about the security of your Funds or access to it;
    2. we discover that any information you have provided to us is false or incorrect;
    3. we suspect criminal activity on your EBANX Balance;
    4. you break an important term of these Terms or repeatedly break any term in these Terms and fail to resolve the matter in a timely manner; or
    5. we reasonably believe that there is a need to do so to comply with any law or as a matter of good practice.
  2. We may also decline to execute a Transaction if:
    1. a Transaction might take you over your available Funds or Limits;
    2. we reasonably believe that there is a need to do so to comply with any law or as a matter of good practice.
  3. If we take any of the steps referred to in clauses 10.1 and 10.2, we will tell you why unless it would be unlawful to do so. You may correct any information we hold and which may have caused us to refuse a Transaction by amending your information on the App.

Keeping your EBANX Balance secure

  1. You will be given security information to enable access to your EBANX Dashboard, e.g. a passcode and password that is personal and must not be disclosed to anyone else.
  2. You must take reasonable precautions to prevent fraudulent use of your EBANX Balance at all times.
  3. You must notify us immediately via Customer Services if you:
    1. know or suspect that your passcode or password is known to an unauthorised person; or
    2. think that a Transaction is unauthorised or incorrectly executed; or
    3. believe that your EBANX Balance is being accessed without your consent.

Relying on your instructions

  1. Subject to these Terms, we will act in accordance with your instructions with respect to settlement of transactions.
  2. We shall be entitled to rely upon any instructions received by us through the Application Programming Interface (API). You shall assume full responsibility for the authenticity and validity of payment instructions sent out while using our services.
  3. The instructions are deemed to be your real intention and shall not be changed or revoked; and you shall assume responsibility for the accuracy and authenticity of the accounts which are provided to us. You covenant that you will assume all risks caused by our operation in accordance with your instructions. You agree that you will not engage in any illegal act or engage in any behavior that violates these Terms or damages any third party’s rights and interests. You shall be responsible for losses caused to us by your conduct.
  4. In reference to the instructions for settlements, you acknowledge and confirm that we are only an authorized executor of orders. Unless we fail to operate as instructed by you, or the operation instruction is wrong, we shall not be liable for any loss and responsibility caused by the instruction, and such loss and responsibility shall be borne by you.

Unauthorised or incorrectly executed Transactions

  1. You may be entitled to claim a refund in relation to a Transaction made using your EBANX Balance where it was not authorised in accordance with these Terms; or we were responsible for its incorrect execution provided that you notify us of the unauthorised or incorrectly executed Transfer within 13 months of its debit date.
  2. If we refund a Transaction to your EBANX Balance and subsequently we learn that it was actually authorised by you, we will deduct the relevant amount from your EBANX Balance (and will be liable for any deficits if they arise).
  3. Subject to clauses 13.4 and 13.5, you may be liable to a maximum £35 for any unauthorised Transactions made on your EBANX Balance.
  4. You will be liable for all losses and expenses we incur as a result of unauthorised Transactions made from your EBANX Balance if our investigations show that any unauthorised Transaction was in fact authorised by you or you acted fraudulently or with gross negligence.
  5. You will not be liable for any losses or expenses we incur as a result of unauthorised Transactions if the loss was caused by us or third parties on our behalf; or arises after you notify us of the unauthorised Transaction in accordance with clause 13.1.
  6. If you’re due a refund on an unauthorised Transaction, we’ll make reasonable endeavours to ensure that you receive this no later than the end of the next Business Day.


  1. Except where applicable law states otherwise, we will not be liable to you for any loss arising under these Terms out of or in connection with:
    1. any cause which results from abnormal or unforeseeable circumstances beyond our reasonable control or which would have been unavoidable despite all our efforts to stop it;
    2. the actions of any authorised person acting in accordance with these Terms and within any restrictions you have set;
    3. any incorrect or inaccurate information or instructions provided by you;
    4. us suspending, restricting or closing your EBANX Balance if we suspect it is being used in an unauthorised, fraudulent or otherwise illegal manner, or as a result of you breaching these Terms;
    5. loss of profit, loss of business, business interruption, or loss of business opportunity;
    6. damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programmes, data or other proprietary material related to your use of our Services;
    7. any delays in or disruptions to our Services;
    8. any faults, mistakes or inaccuracies of any kind in our Services;
    9. information or services provided by third parties or anything a third party does or fails to do;
    10. our compliance with any applicable laws; or
    11. loss or corruption of data unless caused by our willful default.


  1. Please refer to our Complaints Procedure, the EBANX Dashboard or Customer Services for any complaint that you have in relation to these Terms.
  2. We will try to resolve any complaints within fifteen 15 business days of receiving them and in exceptional circumstances, within 35 business days (and we will let you know if this is the case).
  3. If your complaint is not resolved to your satisfaction, you can contact the Financial Ombudsman Service by writing to Exchange Tower, London, E14 9SR, calling them on 0800 023 4567 or (if from outside the UK) +44 20 7964 0500, emailing them at complaint.info@financial-ombudsman.org.uk or via their website www.financial-ombudsman.co.uk.


  1. Our Fees shall be deducted directly from your EBANX Balance on execution of each Transaction.
  2. Our Transaction Fees are set out at the relevant section of the EBANX Dashboard.
  3. You shall pay a USD 1.00 fee every time you submit a payee’s inaccurate information that prevents us from transferring a payment.
  4. If the correct payee refuses to receive a Transfer for any reason, we shall return the transferred amount to your EBANX Balance and shall refund the relevant Fees to you.


Accessing our service

  1. We will try to make sure our Services are available to you when you need them. However, we do not guarantee continuous, uninterrupted or secure access to any part of our Services.
  2. We may suspend, withdraw, discontinue or change all or any part of our Service without notice.
  3. Operation of our websites, software, or systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf may be interfered with by numerous factors outside of our control.
  4. You are responsible for making all arrangements necessary for you to have access to our Services. If you have granted permission to a third party to access your EBANX Balance, we may refuse access if we are concerns regarding unauthorised or fraudulent access. We will give you notice if we do this, either before or immediately after we refuse access, unless notifying you would be unlawful or compromise our reasonable security measures.

Term and Termination

  1. You can terminate these Terms at any time by notifying us via the EBANX Dashboard or contacting Customer Services.
  2. We can terminate these Terms on either 2 months’ notice to you or immediately if: 
    1. you have breached these Terms;
    2. you have broken or attempted to break any applicable law or put us in a position where we might break the law;
    3. you have given us false information at any time; or
    4. we are required to do so under any applicable law or by a regulatory body.
  3. On termination of these Terms, we shall suspend all use of your EBANX Balance apart from Withdrawal requests.
  4. You will further have the right to redeem any available Funds for a period of 6 years from such termination by contacting us via Customer Services.
  5. For the avoidance of doubt and notwithstanding any termination of the Terms, you will continue to remain liable for all Transactions including any Fees (to the extent applicable) that you incur.

Intellectual Property

  1. We own all the intellectual property in our products (e.g., the content in the EBANX Payment Processing Dashboard and on our Website, and our logo).
  2. You must not use our intellectual property as your own without our written permission.
  3. You also must not reverse-engineer any of our Services (that is, reproduce them after a detailed examination of their construction or composition). For the duration of this agreement, you agree to grant us a limited license to display your name, trademarks or logos on its Internet website, presentations, public events, films and press releases, strictly for the purposes of promoting our payment services in Latin America.

Privacy and Cookies Policy

  1. Our Privacy and Cookies Policy sets out the terms on which we process any personal data you provide to, or collected by, us.
  2. By using our Services, you consent to our processing your personal data in accordance with our Privacy and Cookies Policy.
  3. You can withdraw your consent by closing your EBANX Balance, which will end the agreement between you and us. If you do this, we’ll stop using your personal data and information for the purpose of providing our Services, but we may need to keep your information for other legal reasons.

Data Security

  1. You are responsible for configuring your information technology, computer programmes and platform in order to access our Services.
  2. You should use your own virus protection software: we cannot guarantee that our Services will be free from bugs or viruses.
  3. Each Party agrees to implement a response program that specifies actions to be taken when that Party detects actual or suspected unauthorized access to its information or systems. As part of such response program, each Party agrees to immediately notify the other Party of any breach, or suspected or attempted breach of security, related to its areas, locations, or systems which contain any Confidential Information and to cooperate with the other Party to assist in regaining possession of the Confidential Information and prevent its further unauthorized use, and take any necessary remedial actions.


  1. We can delay enforcing our rights under these Terms without losing them.
  2. We may transfer our rights or obligations under these Terms or arrange for any other person to carry these out on our behalf.  You may not transfer any of your rights or obligations under these Terms.
  3. In the event that any part of these Terms is held not to be enforceable, this shall not affect the remainder of these Terms which shall remain in full force and effect.
  4. You will remain responsible for complying with these Terms until your EBANX Balance is closed (for whatever reason) and all sums due under these Terms have been paid in full.
  5. If these terms and conditions are translated into another language, the translation is for reference only and the English version will apply.
  6. These Terms shall be governed by and construed in accordance with the law of England and Wales and the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms.