Terms & Conditons of Service

1. Introduction

Welcome to Ntradex Solutions Inc. (“Ntradex,” “we,” “us,” or “our”). These Terms of Use (“Terms”) govern your use of our product and services, including currency exchange, virtual accounts creation, deposits, transfers and all payment (collectively, the “Services”). By accessing or using our Services, you agree to these Terms which are pursuant under the laws of Nova Scotia. If you do not agree, you must not use our Services. This Terms of Use incorporates by reference additional documents (the “Additional Documents”), which also apply to your use of our Services, including:

Our Pricing Page, which sets out our pricing and how it works.

Our Privacy Policy, which sets out the terms on which we process any personal data we collect about you, or that you provide to us. By using our Services, you consent to such processing, and you promise that all data provided by you is accurate.

1.1. Terms of Use

When you open Ntradex Account, this Terms of Use applies to that Ntradex Account whilst the Ntradex Account is open.

Future changes. We may update this Terms & Conditions from time to time. Any changes made to this Terms of Use will take effect as soon as the Agreement is on our Website and App or on the date notified to you.

2. Our Company Information

Company Name: Ntradex Solutions Inc.

Registered Office: 1969 Upper Water St, Halifax, NS B3J 3R7

Regulatory Information: FINTRAC Reg no - M23681931

3. Jurisdictional Adjustments

3.1. Legal Compliance

Ntradex operates in multiple jurisdictions, including Nigeria, Canada, the United Kingdom, Australia, and the United States. Users must comply with all applicable laws and regulations of their respective countries when using our Services.

3.2. Currencies and Payment Methods

We support transactions in Naira (NGN), US Dollars (USD), Canadian Dollars (CAD), British Pounds (GBP), Euros (EUR), and Australian Dollars (AUD). Additional currencies may be added at our discretion.

Available Payment Methods

Local Bank Transfer for AUD, USD, GBP, EUR

Card Payments (VISA/MasterCard) for all currencies

Interac e-Transfer for CAD

3.3. Taxation

Users are responsible for reporting and paying any applicable taxes in their respective jurisdictions.

4. Services we Offer

Ntradex is a multi-currency wallet that allows you to hold, send, and receive money as well as exchange currency. Here we provide an overview of the services covered by this Terms of Use. You should carefully read the Our Services Section you intend to use.

Currency Exchange: You can convert one currency to another.

Virtual Accounts: Specific to currencies allows you to receive money into your Ntradex wallet.

Deposits: You can deposit money into any of the currency wallets using a specific deposit method available on the application.

Transfers: You can send money out of Ntradex using the various methods we have available.

5. Fees & Pricing

Our fees are outlined in our Pricing Page, which is linked at the end of these Terms. Fees are subject to change, and we will notify users accordingly. Note that:

Creating an Ntradex Account is free.

You may incur a fee when you use parts of our Services such as sending money (currency dependent), exchanging currencies, getting a card, or receiving deposits (currency dependent).

6. User Eligibility

Users must be at least 18 years of age to use Ntradex and must possess a valid means of identification specific to their country.

Our Services are for personal use only, until otherwise stated.

You may only open one Ntradex Account using your means of identification.

All activities under an Ntradex Account shall be considered activities conducted by you. You agree to only use the Services to transact on your own account and not on behalf of any other person or entity. You must not allow others to access or use the Services or your Ntradex Account on your behalf.

7. Using our Product

To start using our Services, you must create a profile and provide certain information as prompted by us.

All information you provide to us must be complete, accurate and truthful always. You must prompt us to update this information whenever it changes by providing additional supporting documents. We cannot be responsible for any loss arising out of your failure to do so.

We are required by law to conduct certain security and customer due diligence checks on you to provide any Services to you and allow you to have and maintain an Ntradex Account.

Ntradex reserves the right to close, suspend, or limit access to your Ntradex Account or the Services in the event we are unable to obtain or verify any information related to you or your transaction.

Ntradex also reserves the right to restrict your access to your Ntradex Account when in strict violation of our terms and conditions, policies, and/or user agreements.

8. Security and Compliance

8.1. Security Measures

We have implemented two-step authentication and password requirements to protect user accounts. Users must take all reasonable measures to keep their credentials secure.

• We recommend you use the Services to send money to friends, family and trusted and verified third-parties that are known to you or that you have already done business with. You should be cautious when sending money to the recipients you don’t know and have never dealt with before.

• When accessing your Ntradex profile, you should at the minimum do the following:

Change your password regularly and ensure that it is not reused for other online accounts.

Never share your login details with anyone else. This includes the password or other security credentials. If you suspect that your account may be accessed by someone else, contact Customer Support. We will never ask you for your password.

Always use strong passwords, for example ones that use a mixture of letters, numbers, and symbols.

Set up 2-step authentication, if applicable.

• Keep your email account secure. You may reset your password using your email address. Let Customer Support know immediately if your email account becomes compromised.
• Regularly update the App on your device to the latest version available.
• Maintain your device’s operating systems with regular security updates provided by the operating system provider.
• Install and maintain the latest anti-virus software on your device, where applicable.
• It is essential to ensure every time you are entering your Ntradex login credentials that it is only ever on our official App (downloaded from the iOS or Android store). Emails and SMS messages sent by fraudsters may lead to fake login portals that could phish your login information and 2-step authentication details. Similarly, criminals can place malicious adverts on search engines that lead to fake websites of trusted businesses.

8.2. Fraud and Scams

Ntradex is committed to preventing fraud, including Money Laundering, scams or other fraud cases. Users should verify recipients before making payments and report any suspicious activity immediately. If you suspect you have become a victim of a scam, contact our Customer Support team immediately.

9. Our Services Section

9.1. Currency Conversion

Our Service include the ability to exchange currencies:

In your Ntradex Wallet, when you hold a balance in one currency and then exchange it to a different currency.

Exchange rate, When we refer to an exchange rate, it means the exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR, USD to AUD) that is offered by Ntradex, which is typically provided by a reference rate provider and usually the mid-market exchange rate. We may change our reference rate provider from time to time without notice to you.

9.2. Your Ntradex Account

• Information about your Ntradex Account:
  

Your Ntradex Account wallet allows you to hold, send, and receive funds and exchange currency.

The funds held on your Ntradex Account do not expire.

The funds held on your Ntradex Account may not earn any interest or return.

You may hold your funds in any currencies that we support at any time.

You may withdraw funds from your Ntradex Account at any time subject to certain conditions, please see the section ‘withdrawing funds from your Ntradex Account’ for more details.

The funds held on your Ntradex Account belong to you as the registered Ntradex Account holder.

We may place certain limits on your Ntradex Account depending on your country of residence, KYC (Verification) status or other legal considerations. You can contact our Customer Support team for more information about these limits.

We may suspend and/or terminate your Ntradex account, if after investigations it is discovered that you indulged in fraudulent behaviors and in violation of our terms. You can contact our Customer Support team for more information if your account is suspended and/or terminated.

• Ntradex is not a bank, and your Ntradex Account is not a bank account. The funds held with Ntradex, including balances in your Ntradex Wallets, are not insured by any deposit protection scheme.
• When Ntradex provides you with Account Details and/or Virtual Accounts (as described further below), these Account Details and Virtual Accounts are a means to receive funds from third parties into a bank account held by Ntradex and its affiliates. Ntradex will credit your Ntradex Account when you use these Account Details prescribed to you and under your name so long as it is sent to you via your kyc’d name as recorded on Ntradex, they are not a bank account number for a bank account held/owned by you. Third-Party deposits for accounts belonging to Ntradex are strictly prohibited, See ‘Funding your Account via Third-Parties Section’ below for more details.
• To add funds to your Ntradex Account, you need to log in to your Ntradex Account and follow the “Deposit” steps for each currency. You may be presented with one or more methods of adding funds to your Ntradex Account.
• Receiving money to your Ntradex Account from other sources. In certain currencies, we may provide you with local account details that you can use to send money directly to your Ntradex Account (“Account Details”). The Account Details that we provide to you are only a means to receive funds from third-party accounts or accounts under your own name, so that Ntradex can credit your Ntradex Account that is held at the Ntradex entity described above (regardless of currency).
• We may carry out verification checks when you request Account Details in addition to the checks required to obtain a Ntradex Account. From time to time your Account Details may change. When this occurs, we will notify you.
• Any money you receive into your Ntradex Account will be converted into electronic money and recorded in your transaction history. You should check and confirm the receipt of incoming funds in your Ntradex Account regularly and let us know if there are any irregularities or discrepancies.
• We are not responsible for the funds you have added until we have received them. For clarity, when you add funds to your Ntradex Account, we are the recipient of those funds. This means the bank or payment service provider you used to send the funds to us is the one responsible for making sure we receive them so that we can credit them to your Ntradex Account.
• We will credit your Ntradex Account once we have received your funds.

9.3. Funding your Ntradex Account via Debit/Credit Card Schemes

You may fund your account via a Debit or Credit Card after providing your card details, such as card number and cardholder name.

When you choose to fund your account via Cards, you confirm that your card details are correct, that you are authorized to access and transmit funds from your card account, that your card account is in good standing with the account-holding financial institution, and that you have the authority to initiate a debit or credit card payment in the amount at issue to or from your card account.

If it is discovered that you added and/or used a Card that isn't yours to initiate transactions, leading to a dispute and/or chargeback, your account will be suspended and/or terminated with all funds refunded to the Cardholder.

9.4. Funding your Ntradex Account via Interac

You may fund your account via Interac by linking your Interac email to your ntradex account.

When you choose to fund your account via Interac, you confirm that you are authorized to access and transmit funds from your bank account, and that you have the authority to initiate an Interac e-transfer or approve an Interac request payment in the amount at issue to or from your bank account.

The bank that you choose to complete your Interac e-transfer may have restrictions on the amount you may send in each Interac e-transfer and the frequency of Interac e-transfers you may have over a period of time.

9.5. Funding your Ntradex Account via Wire or Electronic Funds Transfer (EFT)

You may fund your account via a Wire or EFT, in the form of SWIFT, ACH, etc, so long as the sender of the transaction is you.

When you choose to fund your account via Wire or EFT, you confirm that our details are correclty captured, that you are authorized to access and transmit funds from your bank account, that your bank account is in good standing with the account-holding financial institution, and that you have the authority to initiate a Wire or EFT payment in the amount at issue to or from your bank account.

If you choose to fund your account using an EFT from your bank account, or the domestic wire transfer method, then your transaction order will remain processing until we receive your funds to our specified account. Such payments must be made to our specified account via an electronic funds transfer or domestic wire transfer.

In cases where for any reason the transaction is cancelled or refused, then we will promptly return the deposit to your bank account from which the transaction originated.

Ntradex reserves the right to restrict any account in violation of its funding policies.

9.6. Funding your Ntradex Account via Third-Parties

You may fund your account via a Third-party under situations where Ntradex has provided you with ‘Account Details’ under your kyc'd name as prescribed in the sections above.

You may not fund your account via a Third-party when the provided ‘Account Details’ belong exclusively to Ntradex under the names; ‘Ntradex Solutions Inc.’, ‘Ntradex Solutions LTD’, ‘Ntradex Inc.’, or ‘Ntradex’.

Funding from Third-party accounts to Ntradex under a name different from the name that initiated the transaction on the Ntradex platform will be completely forfeited by that particular user with no recourse to Ntradex in all jurisdictions where we operate.

Ntradex reserves the right to suspend and/or terminate any account in continuous violation of its funding policies.

9.7. Sending out Funds from your Ntradex Account

You may initiate a transfer of all or some of the balance in your Ntradex Account. We may charge you a fee for each withdrawal request (currency dependent), we will let you know the exact amount when you initiate a transfer. You can also find out more information about the fees we charge on the Pricing page.

You must provide correct information to us. When initiating a transfer to a beneficiary, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient because of incorrect information provided by you.

We may delay or decline a withdrawal in certain situations, including if you need complete verification level, or you have exceeded your transfer limits for the period.

9.8. Adding a Beneficiary to your Ntradex Account

To add a beneficiary (currency dependent), you will need to provide certain information to us, including, but not limited to, the full name of your recipient, your recipient’s bank account details (e.g. sort code and account number for UK accounts or the International Bank Account Number (IBAN) for payments made to non-UK accounts) or their x:tag username, or contact details (e.g. Address, Postal Code, City, etc.) and the amount and currency that you are sending.

10. Our Rewards Program

10.1. What is the Rewards about?

Ntradex is offering its existing customers the opportunity to earn a referral reward in the form of x:points that can be redeemed into Rewards (the “Reward”) in various forms such as Cash, Discounts, etc., by referring someone (the “Referral”) to sign up for an ntradeX account (the "Program"). All the Referral will need to do is complete the steps set out in this section of the terms and conditions (the “Terms”). Anyone who has an ntradeX account is eligible to refer someone. Any Reward points will only be awarded if all the criteria in these Terms are met by both the ntradeX customer and their Referral. The terms and conditions that apply to the Program are made up of these Terms and the information included in the In-App Rewards section (the Program Terms”). You must comply with these Program Terms and the terms that apply to your ntradeX account at all times when participating in the Program.

10.2. What do you need to do to earn Reward points?

• Once you intend to refer a friend, the following steps must be completed:
  

Invite someone to join ntradeX, by either tapping on the “Share” icon displayed next to your x:tag on the "More" screen. This icon can also be found next to your x:tag in the "Profile Information" screen.

Once you do this, a draft message containing your unique referral link as well as your x:tag will appear. You can customise the message and send it to your Referral/s. You agree you will not (attempt to) mislead anyone in connection with this Program.

When sending referral messages, you agree you alone are the sender of the message, will only send it to people you know, have permission to send it to, will not “spam” anyone with referrals, and will remain compliant with all applicable laws.

Each Referral must tap on or click on your unique link for you to be eligible for the Program.

You also agree that your referral must satisfy all steps before you are eligible for the rewards.

10.3. What does your referral need to do for you to earn the Reward points?

• For you to be eligible for your Reward, your Referral must satisfy the below steps:
  

Successfully open and verify an ntradeX account, for the first time, using your unique referral link. (Someone who has previously signed up for an ntradeX account with any of our global entities will not earn you a Reward.) You also cannot refer yourself and doing this violates the terms of this agreement and might lead to account suspension. The account the Referral opens must also be verified to at least Cadre 1, uniquely identifying that user within ntradeX.

Top up their account from an external source (like a card top-up or transfer from another bank, not a transfer from another ntradeX account or an x:tag transfer from you ("the Referrer") or another user within ntradeX). There is no minimum required amount to deposit.

Perform a complete ntradeX transaction. After your referral makes a deposit from an external source, they must exchange, and send a transfer payment in a currency different from the currency they deposited. For e.g, depositing NGN, exchanging to EUR, sending out EUR—this is a complete ntradeX transaction. As opposed to, depositing NGN, sending out NGN—this is an incomplete ntradeX transaction in the context of Referral and Rewards. When your referral makes a complete ntradeX transaction in total volume that equates to at least CA$250 or its equivalent in any other currency, you'll be eligible to receive x:points equal to 4,000xp, and your referral will be eligible to receive 1,000xp.

You will not be eligible for a Reward (or may have a Reward that has been previously paid reversed) if your Referral reverses and/or abuses one of these steps after taking it. For example, if you and your referral collude to repeatedly send funds in the same currency to each other with the aim of increasing transaction volume. This is considered malicious and will lead to automatic suspension of your account.

10.4. What other legal information should I know?

The Program is a double-sided campaign, where both the ntradeX customer ("Referrer") who referred a friend and the friend ("Referred") can be awarded any Reward/s.

To be eligible for a Reward, you must have an active ntradeX account (meaning that your account is not restricted, suspended, or terminated) throughout the Program and at the time you account is due for any Reward/s.

If your account was suspended for malicious transactions between you and your referrals, you and your referrals will be ban from the Rewards programs and all linked account(s) will be suspended.

We reserve the right to reverse any Reward/s credited to your ntradeX account if we become aware that you have breached these Program Terms. We will consider the reversal of any Reward to have been done with your consent and the payment to have been authorised by you.

If we believe that you have engaged in any fraud or material abuse of the Program we may also in our sole discretion take any actions we see fit in the circumstances. For example, it would be a material abuse of the Program to orchestrate a campaign to profiteer from the Program in a way that does not result in genuine and unique new sign-ups to ntradeX, and so in addition to reversing any Reward/s, suspending your account and banning you from the Program, we may also close your ntradeX account.

We may change, suspend or end the Program earlier than the end of the Program Period if, in our reasonable opinion, the Program is being abused or may negatively affect ntradeX’s goodwill or reputation, or due to unforeseen circumstances which may make it impossible for us to continue running the Program. We may suspend or end the Program on an individual or promotion-wide basis.

If we need to change, suspend or end the Program before the end of the Program Period, we will try to give you notice through the app and/or email. ntradeX will not be liable for any loss, whether directly or indirectly suffered where we are unable to continue running the Program as planned. Please contact Support if you believe you qualify for a particular benefit in relation to the Program that has not been awarded to you as a result of early suspension or termination.

By participating in this Program, you confirm that you understand that any Reward may be subject to local income tax in the country of your residence and/or in the local territory where you are tax resident. It is entirely your responsibility to pay any tax which may arise from receiving any Reward. ntradeX will bear no liability for any tax obligations which may arise from receiving any Reward as part of this Program.

The terms contained in this specific document are published in English. If they are translated into another language, unless otherwise specified in the table below, the translation is for reference only and the English language version applies and can be used in legal proceedings.