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Terms of Service

This agreement sets forth the terms and conditions under which 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. 1. Definition of Terms

    1. 1.1. «Primary User»: means the User that creates the 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.
    2. 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.
    3. 1.3. «User»: means any user accessing an account with permissions granted by Primary User.
    4. 1.4. «Available Balance»: means the total balance of a particular account minus any accrued
    5. 1.5. «Spend»: means the act of transferring value between accounts. Spends are accounted in USD
      (or other foreign currency equivalent) and convey title to that precise amount of value. Spends may not exceed
      Available Balance.
    6. 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. 2. Conditions of Use

    User acknowledges that the is not a bank or a subject to banking regulations; accounts
    are not insured by any government agency.

    1. 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. 2.2. Identifying Information. User must provide Issuer with valid and accurate identifying information as
      determined from time to time by Issuer.
    3. 2.3. Protection of Password
      1. 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. 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.
      3. 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.
      4. 2.3.4. Issuer is not responsible for losses incurred by User as the result of User’s misuse of a
      5. 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.
    4. 2.4. Irrevocability of Spends
      1. 2.4.1. User agrees that all Spends initiated by User are final and not reversible.
      2. 2.4.2. User is responsible for all Spends from User’s account, except as provided in section
        2.3, even if the instructions provided by User are incorrect.
      3. 2.4.3 User understands and acknowledges that user is aware that spends are irrevocable and
        that user agrees to follow the policy of buyer beware («Caveat Emptor») when using 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.
      4. 2.4.5 User understands and acknowledges that 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 User
        understands that any such involvement by in the affairs of users of the system could expose to civil legal liability, or possibly criminal liability, even if believes that
        its actions are in good faith.
      5. 2.4.6 User understands and acknowledges that 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 account. These fraud alerts specifically warn users
        not to use 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.
    5. 2.5. Disputes between Users
      1. 2.5.1. Any disputes that arise between Users are not the responsibility of Issuer.
      2. 2.5.2. User acknowledges Issuer does not make any guarantees regarding purchases made when using the 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.
    6. 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
      system, except for any loss caused by willful misconduct of Issuer.
  3. 3. Obligations of Issuer

    Issuer shall honor these obligations:

    1. 3.1. Reserve Requirement
      1. 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 account).
      2. 3.1.2. Under no circumstances will Issuer abrogate its obligation to back all electronic funds with
        (at least) 100% reserve USD.
    2. 3.2. User Interface
      Issuer will ensure that a secure online User interface is made available.
    3. 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.
    4. 3.4. Privacy
      1. 3.4.1. Issuer will produce and maintain a Privacy Policy, which will be publicly available at the website. In the event of any conflict between the Privacy Policy and this Agreement, the
        terms of this Agreement will control.
      2. 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. 3.4.3. Issuer will not store Password in plaintext. No employee of Issuer will ever ask for User’s
      4. 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.
        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. 4. Rights of Issuer

    Issuer reserves the following rights:

    1. 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.
    2. 4.2. Value Limits
      Issuer may set value limits (balance, spends, etc.) on a 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 account in an attempt to
      circumvent the value limit.
    3. 4.3. Escheat
      Issuer will not escheat inactive 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. 4.4. 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.
    5. 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. 

      1. 4.5.1. Refusal with Cause
        Issuer will block any transactions that increment or decrement the balance in User’s account
        («Freeze»), with cause: 

        1. Issuer will Freeze the account of User if User uses, or attempts to use the
 service in connection with tampering, cracking, modifying or otherwise corrupting the security
          or functionality of the 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.
        2. Issuer will Freeze or remove a Freeze from an account, if ordered to do so by an
          order from a court or arbitration body of acceptable jurisdiction, as determined by Issuer.
    6. 4.6. Trademarks
      Issuer retains all right, title, and interest in and to trademarks. User shall only use
      trademarks with the express permission of Issuer. User shall not use the trademarks in any manner that is
      disparaging to Under no circumstances may a User alter, modify, or change Issuer’s
    7. 4.7 Exchange services (i. e. exchanging national currency to and vice versa and other currencies
      to and vice versa) are provided by independent Exchange Providers
    8. 4.8. Privacy and Confidentiality Policy
      1. 4.8.1 recognizes the User’s right to confidentiality and privacy.
      2. 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.
      3. 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. 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
      5. 4.8.5 User agrees that has the right to monitor the Network electronically from
        time to time in order to operate the System properly.
      6. 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.
      7. 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.
    9. 5. Third Party Links

      1. 5.1 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 Network unless
        expressly stated. is not responsible for the privacy practices, or the content of any such web
      2. 5.2 User acknowledges and agrees that (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.
    10. 6. Waiver

      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

    11. 7. Assignment

      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.

    12. 8. Jurisdiction

      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

    13. 9. Severability

      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.

    14. 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.