Summary
This agreement covers: Our agreement with you, our services, getting started and using our services, sending money, paying for our services and currency exchange, receiving money, important service restrictions, data protection and privacy, error/cancellations/refunds, agreement duration and termination, intellectual property, disclaimers, customer responsibility for losses, Belmoney's liability, dispute resolution and governing law, customer security obligations, changes to services and agreement, and other terms.
Belmoney Terms and Conditions
Belmoney S.A., with registered office at Avenue Louise 54, 1050 Ixelles, Belgium, company number 0540.745.997 RPM Brussels, is an authorized payment institution supervised by the National Bank of Belgium (NBB) under Directive (EU) 2015/2366 on payment services (PSD2). Belmoney is also subject to Belgian and EU legislation on Anti-Money Laundering and Counter Terrorist Financing (AMLD), the General Data Protection Regulation (GDPR – Regulation (EU) 2016/679), and applicable consumer protection laws.
1. Our Agreement With You
These Terms and Conditions govern your use of the online payment services provided by Belmoney SA, a payment institution authorized and supervised by the National Bank of Belgium. By creating a Profile and/or using the Services, you agree to be bound by this Agreement. This Agreement should be read together with our Privacy Policy. You accept this Agreement by ticking to accept during registration or before initiating a transaction, or by continuing to use the Services. Please pay particular attention to: Section 4 (Sending Money), Section 5 (Fees & FX), Section 7 (Restrictions), Section 9 (Errors/Refunds), Section 14 (Liability), and Section 18 (Changes).
2. Our Services
The Services enable customers resident in the EEA to send funds to a Beneficiary via supported payout methods (e.g., account deposit, wallet, cash payout) in designated corridors. The Services are intended for personal, consumer use (peer-to-peer and family support). Use for commercial payments or for persons you do not know is not permitted unless explicitly allowed by Belmoney. The Services may rely on third-party Service Providers (banks, processors, payout agents). Your use of such services may be subject to additional terms imposed by those providers.
3. Getting Started and Using Our Services
You must create a Profile to use the Services. A Profile is not a bank or payment account and does not hold funds. You must provide accurate information and complete KYC as required. To use the Services, you must: (a) accept this Agreement; (b) be 18+; (c) be resident in a supported country; and (d) complete identity verification and other checks. You may not use the Services if you are subject to sanctions or in jurisdictions we do not support. You may hold one Profile only.
4. Sending Money
You may fund a transfer by card (credit/debit) or bank transfer (e.g., SEPA). By selecting a card, you authorize charges for the Transaction Amount and fees, confirm the card is valid and lawfully yours, and authorize us to verify with the issuer. Submitting a transfer is an offer to us. We may accept or decline in our discretion consistent with law and this Agreement. Execution time depends on corridor, payout method, bank cut-offs, and time zones. Estimated times shown before you confirm are indicative and not guaranteed. Ensure all transaction details are accurate — changes may not be possible after submission.
5. Paying for Our Services and Currency Exchange
You agree to pay the Service Fee displayed before you confirm. Where currency conversion applies, we will display the exchange rate and the resulting Payout Amount before you confirm. The rate disclosed must equal the rate applied. Your bank, card issuer, or provider may charge additional fees (e.g., cash-advance or international fees). You are responsible for these. You are also responsible for any taxes arising from your use of the Services.
6. Receiving Money
Funds are made available to Beneficiaries through Belmoney's network of local banks, financial institutions, and authorized agents. Funds not collected within 60 calendar days are cancelled and refunded to the Sender (less applicable fees). Beneficiaries must present valid government identification and any reference number provided by Belmoney. Service Providers may impose additional verification requirements in compliance with local regulations.
7. Important Service Restrictions
Belmoney may refuse or suspend any Transaction to protect Customers, comply with regulatory obligations, or mitigate risk. Transactions involving High-Risk Countries are subject to enhanced due diligence. Customers may not use Belmoney Services for illegal purposes, gambling, controlled substances, adult content, or other prohibited activities. Belmoney may suspend or terminate Profiles, delay or cancel Transactions, and report suspicious activity to authorities. Customers will be notified where legally possible.
8. Data Protection and Privacy
Processing of personal data is governed by Belmoney's Privacy Policy. Personal data may be transferred outside the EEA with adequate safeguards (e.g., EU Standard Contractual Clauses). In compliance with AMLD, Belmoney collects and verifies personal data, including identity documents, proof of address, and information about the source of funds. Belmoney may disclose data to regulators, law enforcement, or judicial authorities as required by law.
9. Errors, Cancellations, and Refunds
Customers must notify Belmoney promptly of any unauthorized or incorrect Transaction within 13 months. Transactions may be cancelled before completion. Completed Transactions are non-refundable, except where required by law. Refunds are credited to the original Funding Instrument. Exchange rate differences will not be compensated.
10. Agreement Duration and Termination
Customers may cancel this Agreement within 14 days of acceptance without penalty (Cooling-Off Period). Either party may terminate the Agreement with one month's written notice. Belmoney may retain Customer data after termination as required by law.
11. Intellectual Property
Belmoney owns all intellectual property rights related to its Services, trademarks, and software. Customers are granted a limited, non-exclusive, revocable license to use Belmoney's app and website for personal, non-commercial use.
12. Disclaimers
Services may occasionally be unavailable due to maintenance or regulatory obligations. Belmoney is not responsible for disputes between Customers and third-party merchants. While Belmoney applies security measures, it cannot guarantee absolute protection from unauthorized access.
13. Customer Responsibility for Losses
Customers are responsible for losses caused by: breach of this Agreement, misuse of Services, or fraudulent or negligent activity.
14. Belmoney's Liability
We are liable for foreseeable loss and damage caused by our failure to comply with this Agreement or to use reasonable care and skill. We are not responsible for unforeseeable loss or damage, or loss caused by your breach or fraudulent actions. Our liability is limited except in cases involving death, personal injury, fraud, or fraudulent misrepresentation. We are not liable for business-related losses or losses from our disbursement partners. We shall not be held liable for losses arising from compliance with legal obligations or due to Events Outside Our Control (force majeure), including strikes, natural disasters, and significant network disruptions.
15. Dispute Resolution and Governing Law
In the event of disputes, customers are encouraged to first contact Belmoney directly at support@bel.money. Unresolved disputes may be referred to Ombudsfin (Belgium). Escalation steps: (1) Contact Belmoney customer support; (2) Escalate to compliance@bel.money; (3) Engage Ombudsfin at ombudsman@ombudsfin.be, +32 2 545 77 70. These Terms are governed by Belgian law.
16. Customer Security Obligations
Users are responsible for safeguarding Funding Instruments and Security Credentials (e.g., password). Users must not share credentials with anyone. Choose strong, non-guessable passwords and keep devices secure with virus protection and firewalls. Promptly notify Belmoney of any service failures, delays, malfunctions, or errors.
17. Changes to Services and Agreement
Belmoney may update these Terms with reasonable notice. Continued use of the Services after notice constitutes acceptance of the updated Terms. If you do not accept changes, you may terminate the Agreement before they take effect.
18. Other Terms
If any provision of this Agreement is found to be unenforceable, the remaining provisions will continue in full force. This Agreement constitutes the entire agreement between you and Belmoney regarding the Services and supersedes all prior agreements.
Belmoney S.A. · Avenue Louise 54, 1050 Ixelles, Belgium · NBB Authorized Payment Institution