Terms of Service
This agreement sets forth the terms and conditions under which EveryWallet.com provides its account services. This
agreement describes user´s rights and obligations when using these services. User must read the agreement carefully
and be sure user understands these terms and conditions.
Creation or use of an EveryWallet account means user accepts all the terms and conditions of this agreement.
The parties to this agreement are the issuer and the user.
1. Definition of Terms
- 1.1. «Primary User»: means the User that creates the EveryWallet.com account. Primary User is the owner of the
account from the perspective of Issuer. Primary User may add additional Users to the account. The Issuer shall
treat all such additional Users as agents or delegates of Primary User.
- 1.2. «Permissions»: means account access privileges granted by Primary User to designated additional Users.
Unless Primary User specifically limits permissions, such additional Users have the same privileges as Primary
User with certain exceptions, including, but not limited to (1) the ability to reassign Primary User status
and (2) the ability to close the account.
- 1.3. «User»: means any user accessing an EveryWallet.com account with permissions granted by Primary User.
- 1.4. «Available Balance»: means the total balance of a particular EveryWallet.com account minus any accrued
- 1.5. «Spend»: means the act of transferring value between EveryWallet.com accounts. Spends are accounted in USD
(or other foreign currency equivalent) and convey title to that precise amount of value. Spends may not exceed
- 1.6. «Password»: means a series of characters, known only to User, deemed of suitable complexity as
determined from time to time by Issuer. For purposes of this agreement, Password also refers to other
authentication mechanisms to which User and Issuer mutually agree.
2. Conditions of Use
User acknowledges that the EveryWallet.com is not a bank or a subject to banking regulations; EveryWallet.com accounts
are not insured by any government agency.
- 2.1. User Obligations. User agrees that all User obligations under this Agreement are the joint and several
obligations of all the Users with greater than read-only access to a particular account.
- 2.2. Identifying Information. User must provide Issuer with valid and accurate identifying information as
determined from time to time by Issuer.
- 2.3. Protection of Password
- 2.3.1. User is responsible for the protection of User’s Password that gives access to User’s account.
User agrees that, in the event of the loss or misuse of User’s Password, Issuer disclaims all liability
for such loss. User shall indemnify and hold harmless Issuer for relying on transactions authorized using
User’s Password prior to such time as User notifies Issuer that User’s Password has been compromised.
- 2.3.2. User acknowledges and accepts that in the case of a claim of unauthorized Spends, the presumption
shall be that all Spends are authorized by and are the liability of the User.
- 2.3.3. User must not divulge User’s Password to anyone else, nor may User use anyone else’s Password.
User agrees that Issuer will treat any person accessing User’s account using User’s Password as the User.
- 2.3.4. Issuer is not responsible for losses incurred by User as the result of User’s misuse of a
- 2.3.5. User agrees that any action taken by any person using User’s Password shall be binding on User
and all other parties with an interest in that account.
- 2.4. Irrevocability of Spends
- 2.4.1. User agrees that all Spends initiated by User are final and not reversible.
- 2.4.2. User is responsible for all Spends from User’s EveryWallet.com account, except as provided in section
2.3, even if the instructions provided by User are incorrect.
- 2.4.3 User understands and acknowledges that user is aware that EveryWallet.com spends are irrevocable and
that user agrees to follow the policy of buyer beware («Caveat Emptor») when using EveryWallet.com at various
merchant sites, especially merchants such as gaming or gambling or «HYIP» and other types of investment or
chance games or matrixes or Ponzis (pyramid schemes), which are identifiable by their promises of
extremely high (more than 1% per day) rates of return, and that should user still wish to deal with such
merchants that it is at user’s own risk.
- 2.4.5 User understands and acknowledges that EveryWallet.com does not act as judge or jury or as law
enforcement or as a court of law with respect to any disputes between users of EveryWallet.com. User
understands that any such involvement by EveryWallet.com in the affairs of users of the system could expose
EveryWallet.com to civil legal liability, or possibly criminal liability, even if EveryWallet.com believes that
its actions are in good faith.
- 2.4.6 User understands and acknowledges that EveryWallet.com has posted fraud alerts on its home page and
that links to the fraud alerts and these Terms of Service appear (and must be acknowledged) before any
spend or transfer can be made in user’s EveryWallet.com account. These fraud alerts specifically warn users
not to use EveryWallet.com to make spends or internal transfers to Ponzi or «HYIP» or other high yield
investment-type programs and to make sure that user is made aware of the dangers of sending funds to
unknown or poorly known internet sites. User has the right to completely ignore these warnings and
instructions if user chooses so to do, but user acknowledges that user does not have the right to then
blame EveryWallet-com for not physically restraining user from doing foolish things with user’s funds or for
not policing the internet.
- 2.5. Disputes between Users
- 2.5.1. Any disputes that arise between Users are not the responsibility of Issuer.
- 2.5.2. User acknowledges Issuer does not make any guarantees regarding purchases made when using the
EveryWallet.com service. User acknowledges that Issuer does not ensure the quality, safety, or legality of any
merchandise received, nor that the seller will even ship the merchandise.
- 2.6. IndemnificationUser agrees to indemnify and hold harmless Issuer, its agents, affiliates, officers, directors and
employees from any claim or demand whatsoever relating to or arising out of User’s use of the EveryWallet.com
system, except for any loss caused by willful misconduct of Issuer.
3. Obligations of Issuer
Issuer shall honor these obligations:
- 3.1. Reserve Requirement
- 3.1.1. All funds in circulation shall be backed 100% at all times with unencumbered USD (or other
currency that is held in User’s EveryWallet.com account).
- 3.1.2. Under no circumstances will Issuer abrogate its obligation to back all electronic funds with
(at least) 100% reserve USD.
- 3.2. User Interface
Issuer will ensure that a secure online User interface is made available.
- 3.3. Exchange Rates
Strictly for User’s convenience, Issuer may allow Spend order entry in terms of national currency units
using an exchange rate specified by Issuer. Posted exchange rates are only for convenience of User.
Issuer does not make a market for exchange and Issuer does not represent that anyone will make a market
honoring the specified exchange rates.
- 3.4. Privacy
terms of this Agreement will control.
- 3.4.2. Unless (1) otherwise approved by User or (2) ordered by a court or arbitration body of
acceptable jurisdiction, as determined by Issuer, Issuer shall not reveal User’s contact or
identifying information or transaction history to any third party.
- 3.4.3. Issuer will not store Password in plaintext. No employee of Issuer will ever ask for User’s
- 3.4.4 User agrees that the only way to recover access to a User Account where the Password or Login
ID have been lost is by following the password recovery procedure established by Issuer. User is
responsible for being able to meet the requirements and costs for the password recovery. EveryWallet.com
will not be responsible in any way for any of User’s losses due to User failing to meet the
requirements for password recovery.
4. Rights of Issuer
Issuer reserves the following rights:
- 4.1. Governance Model
Issuer reserves the right to appoint third parties to fulfill specified governance roles, including,
but not limited to: trust, auditor, operator.
- 4.2. Value Limits
Issuer may set value limits (balance, spends, etc.) on a EveryWallet.com account based on the sufficiency of
the identifying information provided by User or by order of a court or arbitration body acceptable to
issuer. Issuer may restrict User’s ability to use more than one EveryWallet.com account in an attempt to
circumvent the value limit.
- 4.3. Escheat
Issuer will not escheat inactive EveryWallet.com accounts. An inactive account with a balance shall remain
dormant forever, other than continued assessment of fees, unless and until an heir presents valid
documentation entitling the heir to inherit the account.
- 4.4. Force Majeure
Issuer will not be responsible for delays or failures in the transmission, receipt or execution of orders,
payments, deliveries or information due to events beyond its control. The obligations of this contract
precede any government enactment.
- 4.5. Right of Association
Issuer reserves the right to refuse service to particular individuals or entities, at its sole discretion,
with or without cause.
- 4.5.1. Refusal with Cause
Issuer will block any transactions that increment or decrement the balance in User’s EveryWallet.com account
(«Freeze»), with cause:
- 126.96.36.199. Issuer will Freeze the EveryWallet.com account of User if User uses, or attempts to use the
EveryWallet.com service in connection with tampering, cracking, modifying or otherwise corrupting the security
or functionality of the EveryWallet.com system. Additionally, User will be subject to damages and other
penalties, including criminal prosecution where available and the notification of the general public of
User’s actions, at the sole discretion of Issuer.
- 188.8.131.52. Issuer will Freeze or remove a Freeze from an EveryWallet.com account, if ordered to do so by an
order from a court or arbitration body of acceptable jurisdiction, as determined by Issuer.
- 4.6. Trademarks
Issuer retains all right, title, and interest in and to trademarks. User shall only use EveryWallet.com
trademarks with the express permission of Issuer. User shall not use the trademarks in any manner that is
disparaging to EveryWallet.com. Under no circumstances may a User alter, modify, or change Issuer’s
- 4.7 Exchange services (i. e. exchanging national currency to EveryWallet.com and vice versa and other currencies
to EveryWallet.com and vice versa) are provided by independent Exchange Providers
- 4.8. Privacy and Confidentiality Policy
- 4.8.1 EveryWallet.com recognizes the User’s right to confidentiality and privacy.
- 4.8.2 Unless ordered by a ruling body of competent jurisdiction acceptable to Issuer, Issuer shall not
reveal User’s contact or identifying information or transaction history to any third party.
- 4.8.3 Issuer will ensure that User has the ability to examine User’s contact and identifying information
and make updates and changes when necessary.
- 4.8.4 Issuer will not store any User details, including but not limited to account history, contact or
identifying information, or Personal Identification Number(s) in unencrypted plain text under any
- 4.8.5 User agrees that EveryWallet.com has the right to monitor the EveryWallet.com Network electronically from
time to time in order to operate the System properly.
- 4.8.6 Issuer will email User only if (a) User’s email address is either listed with Issuer as someone
who has expressly shared this address for the purpose of receiving information in the future («opt-in»),
or (b) User has registered or otherwise have an existing relationship with Issuer. Issuer respects User’s
time and attention by controlling the frequency of the mailings.
- 4.8.7 To cease receiving Issuer’s emails User must login to his or her account and disable all email
notifications, which by default are enabled.
5. Third Party Links
- 5.1 EveryWallet.com provides links to other web sites that may be of interest or of use to Users solely for
the convenience of Users. Any such linked site does not constitute part of the EveryWallet.com Network unless
expressly stated. EveryWallet.com is not responsible for the privacy practices, or the content of any such web
- 5.2 User acknowledges and agrees that EveryWallet.com (and its directors, affiliates, officers, employees
and agents) give no warranties or representations in connection with any links to other web sites or the
operations of those web sites and in no way guarantees the use of such web sites or the services offered,
included but not limited to the services of any Exchange Provider.
Failure to exercise or delay in exercising any right, power or remedy hereunder by Issuer shall not operate
as waiver thereof, nor shall any single or partial exercise of any right, power or remedy of Issuer
hereunder preclude any other or future exercise thereof or the exercise of any other right, power or
The provisions of this Agreement shall be continuous and shall inure to the benefit of Issuer, its
successors and assigns, and shall be binding upon User and/or the estate, personal representatives,
administrators and successors of User. Issuer may assign its rights and delegate its duties as to any or all
transactions under this Agreement. User shall not delegate any obligations hereunder without the prior
written consent of a duly authorized officer of Issuer and any attempt at such delegation without such
consent shall be void.
This Account Agreement is governed by the laws of the Republic of Cyprus, as such laws are applied to agreements entered into and to be performed entirely within the Republic of Cyprus by its residents.
The address of the Company’s Permanent Establishment is in Cyprus, Spyrou Kyprianou 61, 4003, Limassol
In the event that any provisions of this Agreement shall be determined by an arbitration body or a court of
competent jurisdiction to be unenforceable in any jurisdictions, such provision shall be unenforceable in
that jurisdiction and the remainder of this Agreement shall remain binding upon the parties as if such
provisions were not contained therein. The enforceability of such provision shall otherwise be unaffected
and remain enforceable in all other jurisdictions.
10. Entire Agreement
This Agreement constitutes the entire and whole Agreement between User and Issuer and is intended as a
complete and exclusive statement of the terms of the Agreement. This Agreement shall supersede all other
communications between the parties. This Agreement may be amended only upon execution of a subsequent
agreement or upon User’s failure to object within 10 days to modifications posted on Issuer’s website.