Policies and Procedures

Terms and Conditions


1.1. The SpotOn Money Relationship Agreement (the “ Agreement”) comprises terms and conditions governing the relationship between the individual (acting outside the course of a business or profession) named in the Application Form (the “Customer”, “you”, “your”) and Monex International Limited trading as SpotOn Money (“SpotOn Money” “ SpotOn “ “us”, “we”, “our”), that apply to certain of our products and services. Our products and services allow you to: load funds onto a Currency account; make payments to one or more Beneficiaries nominated by you; and enter into foreign exchange transactions (including spots and commercial forwards), collectively, the “Services”.

1.1.1. load funds onto a Currency account;
1.1.2. make payments to one or more Beneficiaries nominated by you; and
1.1.3. enter into foreign exchange transactions (including spots and commercial forwards), collectively, the “Services”.

1.2. The following documents are incorporated into and form part of the Agreement:

1.2.1. the terms and conditions set out in this document (the “Terms”); and
1.2.2. any terms and conditions set out in the Application Form.
1.2.3. We will provide you with separate terms and conditions for any services that fall outside the scope of the Agreement.

1.3. We recommend that you retain a copy of all the documents that make up the Agreement. If you would like a copy of any of the documents, you can contact us (using the details at Clause 11.1).

1.4. In the event of any conflict, any terms and conditions in the Application Form shall prevail over the provisions of the Schedule and the terms and conditions of this Agreement.

1.5. While this Agreement is in force, we will provide a copy of this Agreement to you on request.

1.6. These Terms are divided into four separate parts:

1.6.1. BACKGROUND sets out the terms and conditions governing our relationship with you;
1.6.2. YOUR CURRENCY ACCOUNT sets out the specific terms governing your Currency Account with us (and any Orders you may place using that Currency Account);
1.6.3. FX SERVICES sets out the specific terms governing the FX Services which we provide
1.6.4. GENERAL sets out some general information and other importance terms governing the Agreement.

2.1. Where the words set out below are used with capital letters in these Terms, they mean as follows:

2.1.1.“Applicable Laws” means any applicable law, statute, regulation or legally binding requirement or order as interpreted taking appropriate account of regulatory policy, guidance or industry code, relating to either of the parties or subject matter in question, including (as amended from time to time) (i) the EMRs; (ii) the PSRs; (iii) the UK Money Laundering Regulations 2017; (iv) the Proceeds of Crime Act 2002; the UK Terrorism Act 2000 (as amended); and (v) UK and international financial sanctions regimes.
2.1.2. Application Form” means Part 1 of the Application Form, any supplemental terms and any other information submitted by you therein.
2.1.3. “Authorised Party” means any natural person listed as an "Authorised Party" in Part 1 of the Application Form.
2.1.4.“Beneficiary” means you or any third-party payee which you include in your Order.
2.1.5. Beneficiary Account” means the bank account to which you are sending funds.
2.1.6. Business Day” means a day on which banks are open for general banking business in the City of London.
2.1.7.“Close Out” means reversing a Trade in the circumstances set out in Clause 21 or otherwise pursuant to this Agreement.
2.1.8. “Delivery Date” means the Business Day on which we will send funds to the Beneficiary Account.
2.1.9. “Currency Account” means the electronic money account which we shall provide to you and which is to be operated and used in accordance with these Terms.
2.1.10.“SpotOn Representative” means any of our representatives who you may contact with respect to the Services.
2.1.11. “EEA” means the European Economic Area.
2.1.12. “Effective Date” means as set out at Clause 4.1.
2.1.13.“EMRs” means the Electronic Money Regulations 2011 (as amended from time to time.
2.1.14. “Force Majeure Event” means an event which is due to abnormal and unforeseeable circumstances beyond a party's control, the consequences of which would have been unavoidable despite all efforts to the contrary, which may include an act or omission of government, any regulatory body or other competent authority, an interruption, failure or defect, or non-operation of our internet and telephone connections or other communication services..
2.1.15. “Forward Contract” means a foreign exchange contract under which we agree that on a specific date or specified range of dates in the future, to exchange money at an agreed exchange rate and at an agreed time, which shall be to facilitate payment for identifiable goods, services or direct investment.
2.1.16.“Insolvent” means you or any other person takes (or threatens to take) any step-in connection with:

(a) your bankruptcy (including, for the avoidance of doubt, if a bankruptcy petition is presented against you, or you petition for your own bankruptcy);
(b) the making of any composition, compromise, assignment or arrangement with any of your creditors;
(c) the appointment of an interim receiver of your property under section 286 of the Insolvency Act 1986;
(d) the appointment of a receiver in respect of you under the Mental Health Act 1983;
(e) the appointment of any other, receiver or manager of any of your assets;
(f) any analogous procedure in any jurisdiction; or
(g) you are unable or admit inability to pay your debts as they fall due or you are deemed to or declared to be unable to pay your debts under applicable law.

2.1.17. “Limit Order” means an order to exchange money at a specified exchange rate and within a specified time period.
2.1.18. “Margin” means funds (in any currency which we may specify) that we may require you to provide to us as security for us entering into a Forward Contract with you.
2.1.19.“Margin Call” means a request by us for such sum as we consider will be necessary to maintain the amount of Margin relative to the value of the Purchase Currency.
2.1.20. “Nominated Account” means the SpotOn bank account which we specify in the Payment Confirmation.
2.1.21. “Online System” means the electronic platform and interface (hosted by us) through which you can access most (but not all) of the Services.
2.1.22. “Order” means such information as you may supply to us in respect of (a) a Transfer; or (b) a Trade.
2.1.23.“Payment” means cleared funds received by us from you in respect of a Trade in accordance with Clause 18.
2.1.24.“Payment Amount” means the full amount which you are required to pay us to fulfil your Trade as specified in your Payment Instruction Confirmation.
2.1.25.“Payment Instruction Confirmation” means the email we shall send you for the purpose of confirming the Payment Amount and the Beneficiary Account.
2.1.26. “Purchase Currency” means the currency which you shall buy from us.
2.1.27.“PSRs” means the Payment Services Regulations 2017.
2.1.28. “Sell Currency” means the currency which we shall sell to you.
2.1.29. “Services” means those currency exchange and related services as set out at Clause
2.1.30.“Spot Contract” means a foreign exchange contract under which we agree to exchange money at an agreed rate within 48 hours of the contract being entered into.
2.1.31.“Trade” means a Spot Contract, Forward Contract entered into in accordance with Clause 4.
2.1.32.“Transfer” means a transfer of funds to a Beneficiary nominated by you.
2.1.33.“Transaction Receipt” means a confirmation sent by us (by email) setting out details of a Trade.

2.2. We have split the Terms into sections and inserted a number of headings in order to make them easier to read. The headings are not intended to affect the way that the Terms are interpreted.

3.1. To use our Services, you must register to create an Currency Account by either:

3.1.1. using our Online System, clicking on “Open Account” and following the instructions; or
3.1.2. Application Form” means Part 1 of the Application Form, any supplemental terms and any other information submitted by you therein.
3.1.3. completing a paper Application Form (which we shall provide to you) and signing and returning your Agreement to us.

3.2. To use our Services, you must register to create an Currency Account by either:

3.2.1. you must take all reasonable steps to keep your Currency Account log-in details safe at all times and never disclose them to anyone (Note. It is advisable to change your password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to your Currency Account);
3.2.2. if you have any indication or suspicion of your log-in details, password or other security features relating to your Currency Account being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you must contact us without undue delay on becoming aware of the loss, theft, misappropriation or unauthorised use and change the password; and
3.2.3. if you think someone else knows your password, you must change it as soon as you can.

3.3. We may request additional documentation from you to comply with our obligations to our regulators or otherwise under Applicable Laws.

4.1. This Agreement shall take effect immediately upon:

4.1.1. when you register via our website or mobile app and click to accept the Terms; or
4.1.2. if we communicate by phone or by email, receipt of a signed scanned copy of this Agreement (if we communicate by phone or by email),

4.2. This Agreement shall commence on the Effective Date and continue in full force and effect indefinitely unless and until terminated by you or us under Clause 9.

4.3. You must tell us as soon as possible if any of the information you have given us changes, including:

4.3.1. a change of name, address or Authorised Parties; or
4.3.2. a material change to your financial position.

5.1. You represent and warrant to us that as at the time of entering into this Agreement (and on an ongoing basis):

5.1.1. you will at all times comply with all Applicable Laws and you will not use the Services for the purposes of money laundering, tax evasion or terrorist financing;
5.1.2. you will not use our Services for any speculative trading; and
5.1.3. all of the information provided to us (including in the Application Form) from time to time, is true, accurate and complete.

6.1. As these Terms are provided to you as an individual, we will not be liable for any business losses or costs you suffer (such as loss of business profits or opportunities).

6.2. We shall not be liable to you for any losses you incur:

6.2.1. if we are prevented by Applicable Law from fulfilling any of our obligations under this Agreement;
6.2.2. arising out of or in connection with a Force Majeure Event; or
6.2.3. arising out of or in connection with any Transfer or Trade where we have acted on your direct instructions.

6.3. Nothing in this Agreement shall operate to exclude or restrict either party's liability for:

6.3.1. death or personal injury resulting from negligence;
6.3.2. fraud, fraudulent misrepresentation or deceit; or
6.3.3. anything else which cannot be restricted or excluded under Applicable Laws.

7.1. We may at any time set-off any amounts which you owe to us against:

7.1.1. any liability we have towards you (whether under this Agreement or otherwise) if the liabilities to be set-off are expressed in different currencies, we may convert either liability at the market rate for the purpose of the set-off; and/or
7.1.2. any amount then attributed to you held in the Currency Account.

7.2. All amounts due to us under this Clause 7 shall be paid to us in full and you shall only be able to deduct or withhold any amounts subject to tax as required by Applicable Laws.

7.3. If a payment is overdue for more than seven (7) days, you shall pay interest on the overdue amount at the rate of 3% p.a. above NatWest Bank PLC base rate (or any successor rate) from time to time. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount.

7.4. If any amount remains unpaid, we may take debt collection measures including appointing a debt collecting agency or other third parties to assist with the recovery of any amounts due an payable by you to us.

8.1. We will from time to time need to change the terms of this Agreement. We can anticipate some of the reasons why it’d be fair for us to do this, and have listed them below, but may in the future also want to make changes for other reasons.

8.2. We can make a change to this Agreement for any reason (including the following), with any change being a reasonable and proportionate response to a change that is affecting us or that we reasonably think will affect us:

8.2.1. because of a change in Applicable Laws, for example we may have to change our requirements for keeping your Currency Account safe to meet new, higher standards set by law;
8.2.2. if the change benefits you, for example when introducing new products or services or improving existing ones;
8.2.3. to reflect a change in our costs of running your Currency Account or providing you with related services, for example by introducing a new fee;
8.2.4. in response to possible risks to the security of your Currency Account, for example by changing the security steps you need to follow to access your Account or submit an Order; or
8.2.5. to respond to any other change that affects us, if it’s fair to pass on the effects of the change to you, for example to reflect developments in digital payments.

8.3. We may make changes for any other reason we cannot foresee, for example to respond to changes among our competitors that affect how we wish to deliver our services to you.

8.4. We shall notify you of any change to this Agreement in writing (either by post or email). The proposed variation shall come into effect automatically on the date stated in our notice, such date to be at least two (2) months after the date of receipt of the notice.

8.5. You can then tell us at cs@spoton.money that you wish to end this Agreement (and close your Currency Account) before the change takes effect; otherwise, you’ll be treated as having accepted the change.

9.1. You may terminate this Agreement at any time without reason by giving at least one (1) month's prior notice to us.

9.2. We may terminate this Agreement at any time without reason by giving at least two (2) months' prior notice to you.

9.3. We may terminate this Agreement immediately without notice (in whole or in part) if:

9.3.1.you are using our Services fraudulently or illegally;
9.3.2. if we are required to do so by law or a regulator;
9.3.3. in our view (acting reasonably), we must do so to fulfil our legal or regulatory obligations; or
9.3.4. you breach this Agreement.

We will tell you that we’re doing this as soon as we can if the law allows us to.

9.4. Otherwise, we may suspend or terminate this Agreement or the Services (in whole or in part) at any time with immediate effect by giving notice if:

9.4.1.you breach any material representation or warranty or are otherwise in material breach of this Agreement;
9.4.2. you breach or otherwise fails to comply with any Applicable Laws;
9.4.3. we have any material concerns over the adequacy of the information you have provided to us;
9.4.4. you are Insolvent;
9.4.5. an applicable regulatory or law enforcement authority initiates a regulatory or enforcement action, or investigation against you;
9.4.6. there is any other change in your circumstances (including a deterioration in or change to your financial position) which we consider materially adverse to the continuance of the Services;
9.4.7. a Force Majeure Event continues for more than three (3) successive calendar months; or
9.4.8. in our reasonable opinion, you are no longer suitable to receive the Services.

10.1. On the expiry or termination of this Agreement for any reason you shall:

10.1.1. immediately make payment in full for all pending Trades (for the avoidance of doubt, we shall remain entitled to set-off or deduct sums in accordance with Clause 7); and
10.1.2. except as otherwise expressly provided in this Agreement and subject to any rights or obligations which have accrued prior to termination, neither party shall have any further obligation to the other under this Agreement.

10.2. Following termination of this Agreement, we will:

10.2.1. Close Out any pending Trades; and
10.2.2. deduct from the Currency Account all fees and other amounts owing under this Agreement and transfer any remaining funds to your nominated bank account (without prejudice to the other provisions of this Agreement).

10.3. The termination of this Agreement shall not affect any provisions of this Agreement that are expressly or by necessary implication intended to survive such termination.

11.1. If you wish to contact us regarding your Currency Account or any of the Services, you can do so (unless we say otherwise) through an SpotOn Representative or otherwise by contacting cs@spoton.money.

11.2. If you are unhappy with any of our Services, you can contact us in writing by using any of the following details:

Post : Compliance Department Monex Onternational Ltd 32 Spring Street Paddington W2 1JA
Email : cs@spoton.money

11.3. If you want to speak to an SpotOn Representative directly, please use the contact telephone numbers at the following link: https://spoton.money/supporthome

11.4. For further information on our Complaints Policy, please see www.spoton.money/policy.

11.5. If your complaint remains unresolved, you may be entitled to refer it to the Financial Ombudsman Service ("FOS"). Further information, contact details and the eligibility requirements can be located on www.financialombudsman.org.uk. In certain circumstances you may also be able to submit your complaint to the FCA who will use your complaint to inform their regulatory activities. For further details please contact the FCA on 0800 111 6768 (freephone).

11.6. You may also be entitled to use the European Commission’s Online Dispute Resolution platform to resolve your complaint. The platform can be found at ec.europe.eu/adr.

11.7. Our Services are not covered by the UK Financial Services Compensation Scheme

Your Currency Account

12.1.Your Currency Account is an electronic money account which enables you to send and receive electronic payments in accordance with the terms of this Clause 12.

12.2.Your Currency Account is not a personal bank or deposit account and you will not earn any interest on the funds held in the Currency Account.

12.3. As the provider of your Currency Account, we are authorised by the Financial Conduct Authority under the SPI (FRN: 510848) as a small Payment Institution, which allow us to provide payment services.

12.4. As a payment institution, we are required to ensure that customer funds are appropriately “safeguarded”. This means that funds received by us corresponding to electronic money will be held in one or more segregated bank accounts separately from our own funds, in accordance with the EMRs. In the event of our insolvency, these funds will form an asset pool which is separate from our insolvent estate and an administrator will be entitled to reimburse you from this pool (in priority to other creditors).

12.5. Your Currency Account(s) are denominated in the currency as selected by you.

13.1. We will credit any funds received from you to your Currency Account.

13.2.Your Currency Account can be used to:

13.2.1. store funds in a currency nominated by you in your Application Form;
13.2.2. make Transfers (alone or in combination with a Trade);
13.2.3. make Payment in connection with one or more Trades; and
13.2.4. make any payment of Margin in accordance with Clause 19.

13.3. We will not allow you to make any Transfer or Payment Out of your Currency Account where this would put your Currency Account into a negative balance. You should therefore ensure that you have sufficient funds, including in respect of Margin Calls which may be made from time-to-time, in your Account before placing an Order.

13.4. We may apply spending limits on your Currency Account (for example, the maximum amount of Transfers or Trades that you can make in one day or the maximum exposure you can have to a single currency), and we’ll tell you if we do so.

13.5. We do not impose fees or charges for our Services save for same-currency Transfers or Trades, where we may impose a reasonable charge which we will negotiate with you. We will let you know of our fees in advance of accepting any Trades or Transfers.

13.6. However, others might impose fees, charges or taxes. For example, a correspondent bank who is involved in processing your Transfer charge you a fee to transmit funds to the Beneficiary Account.

13.7. The exchange rates we use are variable exchange rates which are changing constantly throughout the day (for example, to reflect movements in foreign exchange markets). The exchange rate applied to your payments will appear on your statement. Unless otherwise agreed with you, the exchange rate we will apply to Transfers (including any future dated payments) and Trades which are in a different currency to the denomination of your Currency Account will be the rate applicable at the time that your payment is processed. You can contact us to find out the rate which will apply by contacting your SpotOn Representative.

13.8. You can place an Order from your Currency Account online, by telephone or by email:

13.8.1. Online: You must log on to the Online System (using your password and log-in details) and follow the instructions to submit your Order.
13.8.2. Telephone: You must call an SpotOn Representative and specify your Order, together with such other information as we may reasonably request.
13.8.3. Email: You must email us and specify your Order.

13.9. If you confirm an Order (and make Payment in accordance with Clause 18) on a non-Business Day (or after our cut off times (which we shall make available on our website)), we’ll process your Transfer on the next Business Day.

13.10. We will send the funds to the Beneficiary Account nominated by you.

13.11. If the Beneficiary Account is held in the EEA and is in pounds sterling (£), euro (€) or another EEA currency, the account provider (e.g. bank) will receive the money by the end of the next Business Day after you ask us to send it. Otherwise, if the Beneficiary Account is held in the EEA (and the transaction is in a non-EEA currency), the account provider will receive the money within four Business Days after you ask us to send it.

13.12. If the account provider is in the EEA and the Beneficiary Account is in an EEA currency, the account provider is required by law to put the money into the Beneficiary Account as soon as it receives it. Banking practices may vary if you send money to a non-EEA currency account or to an account outside the EEA - for more information on when a payment will be credited to such an account, you can ask us the Beneficiary Account provider.

13.13. If a Transfer you asked us to make within the EEA does not arrive when it should have, you can ask us to contact the Beneficiary Account provider and ask them to treat it as if it was made on any time.

13.14. The Beneficiary’s account provider may apply its own charges to the Transfer.

13.15. Where you make Payment using your Currency Account, the amount of the Payment will be deducted by us from your Currency Account balance. You must ensure that you have sufficient funds in your Currency Account to cover the amount of any Trade or Transfer you want to make using the Account. If you do not have sufficient funds in your Currency Account, we reserve the right to postpone the execution date of the Trade or Transfer and we may impose a charge to cover the costs of us doing so.

13.16. We will make available to you through the Online System key information relating to all transactions on your Currency Account and a transaction history at any time and such information may also be downloaded as a report which can be stored and reproduced in an unchanged manner.

13.17. Each transaction made using the Currency Account will be given a unique transaction ID which will be set out in the transaction history. You must quote this transaction ID when communicating with a SpotOn Representative about a particular transaction.

13.18. Unless we agree otherwise, we’ll provide you with statements every month and free of charge, provided that there have been payment transactions on the account during the month.

13.19. Any redemption from the Currency Account will be to the bank account which you notified to us when you first registered to use our Services and you can request a redemption through the Online System, unless we agree otherwise.

14.1.Improper execution

14.1.1. If there is a defective or non-executed transaction to or from the Currency Account, we will without undue delay refund the amount of a payment and any charges you have paid as a result, subject to the other provisions of this Clause 14.
14.1.2. We will not be liable if the error was caused by the sender’s payment service provider (for a payment to the Currency Account) or the Beneficiary's payment service provider (for a payment from the Currency Account), unless we are also that payment service provider.
14.1.3. If a payment goes to the wrong person, or is delayed, because you gave us the wrong details, we will not be liable but will use reasonable efforts to try to recover the payment. We may charge reasonable costs for doing so.

14.2.Unauthorised payments

14.2.1. If there is a payment from the Currency Account that you did not authorise, we will immediately refund the payment and any charges you have paid as a result subject to the other provisions of this Clause 14.
14.2.2. If we can show that you acted fraudulently, you will be liable for all payments from the Currency Account that we could not stop.
14.2.3. If we can show you have been grossly negligent in keeping safe your Profile log-in name and password or any device used by you to access our Services, you will be liable for payments from the Currency Account but only if the payments are not in connection with a distance contract (as defined in regulation 77(5) PSRs) and only until you have informed us that any device or log-in details have been lost, stolen or could be misused.
14.2.4. You should without undue delay notify us (using the details at Clause 11.1) if you becomes aware of the loss, theft or misuse of your Profile log-in details or any device which you use to access your Profile.
14.2.5. We will not provide a refund under Clauses 14.2.2 or 14.2.3 if you fail to bring an unauthorised or incorrectly executed transaction to our attention without undue delay and in any case within thirteen (13) months of the date of the Trade or Transfer. However, we will try to trace the transaction for you (if you ask us to) and impose a reasonable charge to cover the costs of doing this.

15.1. We may suspend the Currency Account or otherwise restrict its functionality on reasonable grounds relating to the security of the Currency Account or any of its security features or if we reasonably suspect that an unauthorised or fraudulent use of the Currency Account has occurred or that any of its security features have been compromised.

15.2. We will notify you of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless that would be unlawful or compromise our reasonable security interests.

15.3. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.

15.4. If we suspect or become aware that your Currency Account may be subject to fraud or security threats we’ll contact you using the contact details we hold for you.

16.1. Following termination of this Agreement, you or we may close your Currency Account once we have paid any remaining balance on the Currency Account to your nominated bank Account

16.2. After the Currency Account is closed, we shall pay any other amounts which we owe to you to your nominated bank account (unless we agree otherwise).


Note: The FX Services described in this Part C do not constitute the issuance of electronic money nor payment services activity and are therefore not subject to regulation by the FCA under the PSRs/EMRs.

17.1.How to Place and Confirm a Trade

17.1.1. You can place an Order by using one of the methods at Clause 13.8 online, by telephone or by email.
17.1.2. Once we have received your Order, we will confirm:

(a) the amount of the Sale Currency and the Purchase Currency;
(b) the foreign exchange rate which we intend to apply;
(c) any Payment to be made in accordance with Clause 18;
(d) any Margin payable by you in accordance with Clause 19; and
(e) any additional terms which we intend to apply to the Trade.

17.1.3. Upon receipt of an Order, we will provide you with a Transaction Receipt and a Payment Instruction Confirmation, which we may provide in a single communication.
17.1.4. You must carefully review the Transaction Receipt and the Payment Instruction Confirmation and tell us before Payment if you think any of the details are incorrect. If you are placing an order by telephone or by email, you must tell us within one (1) hour of receipt of your Transaction Receipt and Payment Instruction Confirmation. We’ll provide you with a revised Transaction Receipt and/or Payment Instruction Confirmation as soon as possible.
17.1.5. Except in the case of Limit Orders (see Clause 20 below), we will execute the Trade upon receipt of Payment.
17.1.6. You may not cancel a Trade which you have placed with us. However, if we haven’t yet processed the Trade:

(a) you can correct any incorrect Beneficiary Account details (though we may charge a fee for this); or
(b)we may at our discretion permit you to cancel the Trade.

17.1.7. If we permit you to cancel an Order:

(a) if we’ve already received the Payment Amount, we’ll return it to the account from where it came. However, if the Sale and Purchase Currencies are different, we’ll convert the Purchase Currency back to the Sale Currency using an agreed exchange rate at the time of cancellation, which means the amount we return to you may be more or less than the original Payment Amount;
(b) we won’t refund any fees you’ve paid us; and
(c) we may require you to pay an additional fee that we agree with you at the time of permitting cancellation.

17.2. Trade Suspension or Cancellation

17.2.1. We may reject, suspend, disregard or cancel a Trade, or refuse to issue a Transaction Receipt in our sole discretion for any of the following reasons:

(a) if (in our reasonable opinion) the Order is unclear;
(b) if (in our reasonable opinion) the Order was not authorised by an Authorised Party;
(c) you are Insolvent;
(d) you breach any material representation or warranty or are otherwise in breach of this Agreement;
(e) we may otherwise breach Applicable Law or face action from a regulator or other authority;
(f) the Trade may be linked to activity that breaches Applicable Law;
(g) you have failed to pay make Payment when due or are otherwise in breach of this Agreement or any other agreement you have with us;
(h) you fail to provide us with sufficient information to allow us to fulfil the Trade; and
(i)the Trade is outside our financial crime risk appetite.

17.2.1. We’ll notify you of the reason for declining, cancelling or delaying a Trade (if the law allows us to) and also, if possible, our reasons for doing so and how you can put right any factual errors that led to our action.
17.2.3. If we cancel a Trade after receiving the Payment, we’ll return the relevant amount and any related fees we’ve received (less our reasonable costs) to the account from which it was sent.

18.1. You must pay the full Payment Amount to us from your Currency Account on or before the Delivery Date. If we have not received the Payment Amount by the Delivery Date (or any agreed change to the Delivery Date agreed pursuant to Clause 19.7), we may:

18.1.1. refuse to fulfil the Trade; and/or
18.1.2. Close Out the Trade in accordance with Clause 21.
18.1.3. Failure to make Payment in accordance with this Clause 18 will be a material breach of this Agreement.

19.1. Where you wish to enter into a Forward Contract, we may require you to make an initial Margin payment within twenty-four (24) hours of you receiving the Transaction Receipt.

19.2. From time to time during the term of the Forward Contract, we may require you to pay to us additional Margin (by making a Margin Call) to maintain the relative value of the Purchase Currency.

19.3. In the event of a Margin Call, you must pay such additional Margin to our Nominated Account within twenty-four (24) hours of our demand from your Currency Account and/or by some other means.

19.4. If you do not satisfy the Margin Call, we may cancel the Forward Contract with immediate effect or Close Out.

19.5. Any Margin paid by you or on your behalf will be paid to us for the purpose of securing or covering all your present or future, actual or contingent, or prospective, obligations to us under this Agreement or otherwise. We will acquire full ownership of such Margin and we will shall not hold any Margin on your behalf (whether on trust or otherwise) and we can deal with it as our own. In the event of our insolvency, you will rank as a general creditor of ours in relation to such Margin paid to us.

19.6. We will owe you a debt equal to the amount of Margin received by us, subject to any set-off rights under, or other terms of, this Agreement, or under general law. We shall pay to you all or part of any amount of Margin owed to us by you (e.g. upon fulfilment of a Trade) under this clause to the extent that we consider, in our discretion, that the amount of Margin you have transferred to us exceeds the amount required by us to secure or cover all your present or future, actual or contingent, or prospective obligations to us under this Agreement or otherwise.

19.7. You may ask us to bring forward (pre-deliver) the Delivery Date or to extend (roll over) the Delivery Date in relation to the whole or only part of your Forward Contract. We may agree to such a request entirely at our discretion. If we agree, you acknowledge that we may adjust the Payment Amount to reflect new Delivery Date.

20.1. We will execute a Limit Order when we achieve the rate nominated by you within the agreed time period.

20.2. If the last day of the agreed time period falls on a non-Business Day, your Limit Order will expire on the following Business Day.

20.3. You may cancel a Limit Order at any time (by telephone or by email), up until the agreed exchange rate is achieved by us.

20.4. Upon successful execution of a Limit Order, we will provide you with a Transaction Receipt setting out the details of the Trade.

20.5.Whilst we will try to achieve the agreed exchange rate within the agreed period, we cannot guarantee that the agreed exchange rate will be met.

21.1. We may Close Out a particular Trade or all current Trades that you have with us, without notice to you:

21.1.1. if you fail to make any Payment when it is due, including payment of Margin;
21.1.2. if you fail to provide any information we have requested or any warranty/representation you have given us is or becomes, in our opinion, materially inaccurate, incorrect or misleading;
21.1.3. in the event of your death or loss of mental capacity;
21.1.4. in the event that you are Insolvent;
21.1.5. if you take some action (or refrain from doing something) which places us in breach of our legal or regulatory obligations;
21.1.6. if the performance of our obligations under this Agreement become illegal;
21.1.7. if you breach this Agreement;
21.1.8. if you terminate this Agreement in accordance with Clause 9; or
21.1.9. the Trade is outside our financial crime risk appetite.

21.2. You may ask us to Close Out a particular Trade or current Trades by giving us notice in writing.If we permit you to Close Out:

21.2.1. we will buy back the currency that we have bought for you when you entered into the Trades at prevailing market rates. If the value of the Purchase Currency has strengthened, this means that a loss will be incurred on the Trade and you will be liable to us for the amount of that loss (as well as any costs incurred by us);
21.2.2. we will not pay you any profit arising the Close Out;
21.2.3. you acknowledge that the amount of any loss realised on the Closing Out of a Trade is a debt payable by you and agree that we may immediately deduct the total amount of any loss (together with any costs) from your Currency Account;
21.2.4. if the amount we are seeking to recover exceeds the amount of any Margin or funds available in your Currency Account, you must pay the balance within seven (7) days of being notified by us of the total amount due;
21.2.5. we may charge you interest on any sum that remains payable to us after we Close Out at a rate of 5% per annum over the Bank of England base rate. Interest will accrue and will be calculated daily and be compounded monthly from the date payment was due until the date full payment is made by you; and
21.2.6. we will send you a written statement explaining the amount of any sums that may be payable to us and the amount of any sums being withheld by us.


22.1. SpotOn Money is a trading name of Monex Internatinal Limited, a company incorporated under the laws of England and Wales with registration number 04974470 and authorised by FCA as a Small Payment Institution FRN-510848. Registered address: 32 Spring Street, Paddington, London, W2 1JA

22.2. No express term of this Agreement (nor any term implied under it) is enforceable pursuant to the Contracts (Rights of Third Parties) Act 1999 or otherwise by any person who is not a party to it.

22.3. We may agree to communicate with you in one or more languages depending on the location of the SpotOn Representative which provides Services to you. The primary business language used by SpotOn is English, and so if we have not expressly agreed otherwise, communications from you to us (in particular legal notices, correspondence and documentation) should be in the English language.

22.4. We may listen in to or record phone calls with you (or any of your Authorised Parties) to:

22.4.1. check we are carrying out your instructions correctly and that we are meeting our regulatory obligations;
21.1.2. help detect or prevent fraud or other crimes; and
21.1.3. improve our Services.

22.5. If any part of this Agreement is disallowed or found to be ineffective by a court or regulator, the rest of it shall continue to apply.

22.6. We may choose not to enforce our rights against you and make this contractually binding against us by giving you a notice which expressly states that we have chosen to do so under this term of the Agreement. In all other cases, if we choose not to exercise rights against you, we can still do so later.

22.7.We may:

22.7.1. assign any or all of our rights under this Agreement to any third parties; and
22.7.2. transfer (by novation or otherwise) all or any of our obligations under this Agreement to any person (a Transferee) provided that no transfer or our obligations will be effective until the Transferee has confirmed to you in writing that it is bound by the terms of this Agreement.

22.8. In the event of our insolvency, a third party back-up servicer shall be appointed such and – to the extent permissible under Applicable Laws – shall be entitled to administer any pending Transfers, Trades (including by effecting Close Outs) and handle any Payments paid or payable.

22.9. You may not transfer any of your rights or obligations under this Agreement.

22.10. The laws of the country which you are resident in will decide any legal questions about these Terms, and about our dealings with you with a view to entering into this Agreement, e.g. if you live in England, the laws of England will apply.

22.11. The courts of the country in which you are resident can deal with any legal questions connected with this Agreement.

Terms of Use

This section together tells you the terms of use on which you may make use of our website (our site), whether as a guest or a registered user. Please read these terms of use carefully before you start to use the site. By using our site, you indicate that you accept these terms of use and that you agree to abide by them. If you do not agree to these terms of use, please refrain from using our site.

This site is operated by the Company as named on each page of this website (“We”). We are registered in England and Wales. Our Registered office, place of business, Company number and VAT number are as follows:
  • Monex International Ltd. – 04974470
  • 32 Spring Street , Paddington W2 1JA
  • VAT Number – 119618600

Access to our site is permitted on a temporary basis, and we reserve the right to withdraw or amend the service we provide on our site without notice (see below). We will not be liable if for any reason our site is unavailable at any time or for any period.

From time to time, we may restrict access to some parts of our site, or our entire site, to users who have registered with us.

If you choose, or you are provided with, a user identification code, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any third party. We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our opinion you have failed to comply with any of the provisions of these terms of use.

You are responsible for making all arrangements necessary for you to have access to our site. You are also responsible for ensuring that all persons who access our site through your internet connection are aware of these terms, and that they comply with them.

We are the owner or the licensee of all intellectual property rights in our site, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

You may print off one copy, and may download extracts, of any page(s) from our site for your personal reference and you may draw the attention of others within your organisation to material posted on our site.

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

Our status (and that of any identified contributors) as the authors of material on our site must always be acknowledged.

You must not use any part of the materials on our site for commercial purposes without obtaining a licence to do so from us or our licensors.

If you print off, copy or download any part of our site in breach of these terms of use, your right to use our site will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

Commentary and other materials posted on our site are not intended to amount to advice on which reliance should be placed. We therefore disclaim all liability and responsibility arising from any reliance placed on such materials by any visitor to our site, or by anyone who may be informed of any of its contents.

We aim to update our site regularly, and may change the content at any time. If the need arises, we may suspend access to our site, or close it indefinitely. Any of the material on our site may be out of date at any given time, and we are under no obligation to update such material.

The material displayed on our site is provided without any guarantees, conditions or warranties as to its accuracy. To the extent permitted by law, we, other members of our group of companies and third parties connected to us hereby expressly exclude:

  • All conditions, warranties and other terms which might otherwise be implied by statute, common law or the law of equity.
  • Any liability for any direct, indirect or consequential loss or damage incurred by any user in connection with our site or in connection with the use, inability to use, or results of the use of our site, any websites linked to it and any materials posted on it, including, without limitation any liability for:
    • loss of income or revenue;
    • loss of business;
    • loss of profits or contracts;
    • loss of anticipated savings;
    • loss of data;
    • loss of goodwill;
    • wasted management or office time; and
  • Any liability for any other loss or damage of any kind, however arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable, provided that this condition shall not prevent claims for loss of or damage to your tangible property or any other claims for direct financial loss that are not excluded by any of the categories set out above. This does not affect our liability for death or personal injury arising from our negligence, nor our liability for fraudulent misrepresentation or misrepresentation as to a fundamental matter, nor any other liability which cannot be excluded or limited under applicable law.
We process information about you in accordance with our privacy policy, which is also be found on this website. By using our site, you consent to such processing and you warrant that all data provided by you is accurate.

Whenever you make use of a feature that allows you to upload material to our site, or to make contact with other users of our site, you must comply with any applicable laws and content standards. You warrant that any such contribution does comply with those standards, and you indemnify us for any breach of that warranty.

Any material you upload to our site will be considered non-confidential and non-proprietary, and we have the right to use, copy, distribute and disclose to third parties any such material for any purpose. We also have the right to disclose your identity to any third party who is claiming that any material posted or uploaded by you to our site constitutes a violation of their intellectual property rights, or of their right to privacy.

We will not be responsible, or liable to any third party, for the content or accuracy of any materials posted by you or any other user of our site.

We have the right to remove any material or posting you make on our site if, in our opinion, such material does not comply applicable laws or content standards.

You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to our site, the server on which our site is stored or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack.

By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our site will cease immediately.

We will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our site or to your downloading of any material posted on it, or on any website linked to it.

You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists.

You must not establish a link from any website that is not owned by you.

Our site must not be framed on any other site, nor may you create a link to any part of our site other than the home page. We reserve the right to withdraw linking permission without notice. If you wish to make any use of material on our site other than that set out above, please address your request to ‘Contact Us’ on this site.

Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them.

The English courts will have exclusive jurisdiction over any claim (including non-contractual disputes or claims) arising from, or related to, a visit to our site.

These terms of use and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales.

We may revise these terms of use at any time by amending this page. You are expected to check this page from time to time to take notice of any changes we made, as they are binding on you. Some of the provisions contained in these terms of use may also be superseded by provisions or notices published elsewhere on our site.

If you have any concerns about material which appears on our site, please contact us via the ‘Contact Us’ section of this website. Thank you for visiting our site.

Privacy Policy

GDPR 2018

This Data Protection Policy (the “Policy”) sets out the policy which Monex International Limited (referred to as “we” or “us” in this document) has adopted in order to facilitate compliance with the General Data Protection Regulation (the “GDPR”) when we establish and manage customer relationships and execute transactions.

The GDPR regulates the “processing” of “personal data”. Its definition of “personal data” covers all information relating to identifiable living individuals which is held on computer, in other automatically-processable form or in a manual filing system which is structured so as to facilitate access to information relating to particular individuals. (Information relating to companies and other “legal” persons is not caught). Its definition of “processing” covers any conceivable activity in relation to personal data, including collection, analysis, processing in the ordinary sense of the word, storage, disclosure, international transfer and deletion.

We process personal data in various circumstances and in relation to various categories of individual. This Policy deals specifically with personal data collected in the context of the establishment and management of our customer relationships and the execution of transactions on the instructions of our customers (“Customer and/or Transaction Management”). It does not, for example, deal with data protection issues which might arise in relation to our HR or direct marketing activities.

It should be borne in mind that the GDPR regulates processing of personal data relating to all individuals, not just relating to customers. Information relating to individual representatives of corporate customers, or to individuals (or individual representatives of corporates) elsewhere in a payment chain – for example, an ultimate payee or an individual representative of an aggregator – is also protected by the GDPR.

The individuals to whom personal data relate, whether customers or otherwise, are known as “data subjects”.

The UK Information Commissioner (the “Commissioner”) is responsible for enforcement of the GDPR and has published a range of guidance on data protection issues, all of which is available on the Commissioner’s website at www.ico.gov.uk.

Our principal obligations under the GDPR include: (i) processing personal data fairly, legitimately, lawfully and proportionately; (ii) informing individuals regarding our processing of their personal data; (iii) abiding by restrictions on the international transfer of personal data; (iv) keeping personal data secure, taking steps to ensure that they are accurate and up-to-date and deleting them when they are no longer needed; (v) maintaining an appropriate registration with the Commissioner’s office; and (vi) responding appropriately when data subjects seek to exercise their statutory rights of access, correction and objection.

A copy of this Policy will be supplied to each employee of Monex International Limited. The requirements set out in this Policy are mandatory unless otherwise stated and must be followed by all our employees and agents. It is the responsibility of each such person to acquaint themselves with the requirements of this Policy. [Failure to comply with this Policy may constitute a serious disciplinary offence and could result in dismissal.]

This Policy is supplementary to our other published policies, including our conduct of business, anti-money laundering and complaints policies.
Mr G Kiruba has been designated as Monex International Limited’s data protection officer (the “Data Protection Officer”). If you have any questions about this Policy or application in particular circumstances you should consult the Data Protection Officer.

The GDPR requires that all of our processing of personal data should be fair and lawful and should meet one of various specified conditions. In designing and implementing each Customer and/or Transaction Management procedure involving the processing of personal data, we must take these requirements into account and ensure that they are met.

We expect that our routine processing of personal data for Customer and/or Transaction Management procedure will generally meet the most general of the available conditions, which is known as the “legitimate interests” condition. The legitimate interests condition will apply, and allow us to process personal data, if both:
  • the processing is necessary for the purposes of legitimate interests that we, or a person to whom we disclose the data, pursue (these may be business, compliance or other purposes); and
  • the processing is not “unwarranted” because it prejudices the rights, freedoms or legitimate interests of the data subjects.

Each processing operation should, therefore, be assessed to ensure that part A of this condition is met – i.e. we have a legitimate business, compliance or other purpose for carrying out the processing. If part A is met, you should then consider whether the processing will prejudice the data subjects in any way – our expectation is that, provided the other rules in this Policy are followed, our ordinary processing for Customer and/or Transaction Management purposes will not prejudice data subjects’ rights, freedoms or legitimate interests. If you consider that there is a potential for prejudice to be caused in a particular case, the prejudice should be balanced against our interests and a view taken on whether our interests outweigh the prejudice to the data subjects.

If you are in any doubt as to whether the legitimate interests condition is met, you should consider whether the processing can be justified on the basis that it meets any of the other statutory conditions available in the GDPR. The other conditions most likely to apply are as follows:

Processing is justified if it is necessary to fulfil a UK legal obligation. This will include, for example, processing in order to carry out legally-required anti-money-laundering checks; or in response to a UK court order. Foreign legal requirements are not automatically sufficient to justify disclosure or other processing of personal data.

Processing is justified if it is necessary for the performance of a contract with the data subject or to take steps at the data subject’s request with a view to entering into such a contract. This will justify some processing of personal data relating to individual customers.

Processing can be justified on the basis of data subject consent. Our customer contracts should, therefore, include consents to the processing of individual customer data that will be necessary as part of our Customer and/or Transaction Management procedures.

The requirement that personal data should be processed lawfully can be breached in a number of circumstances, not covered by this Policy because in themselves they fall outside the scope of the GDPR – for example, processing for fraudulent purposes would be unlawful and would therefore breach the GDPR.

The GDPR also prohibits the processing of excessive, irrelevant or inadequate personal data. Systems and procedures should be designed so as not to collect personal data which are excessive or irrelevant (in particular: personal data should not be collected on a “just-in-case” basis) and, of course, you should ensure that the data collected are adequate for the relevant purposes.

Personal data collected for any given purpose should not then be used for a purpose which is incompatible with that purpose – we would not expect this to be an issue in the ordinary course of Customer and/or Transaction Management, however.
We expect the general requirement that processing of personal data should be fair to be met if all the other requirements of this Policy are met.

We are required under the GDPR to ensure that data subjects have various information readily available to them. This requirement is subject to exceptions, however, and these exceptions are of relatively wide application in the context of Customer and/or Transaction Management. In particular, (a) information only needs to be made available where it is practicable to do so; (b) in the case of personal data which are not collected directly from the data subject (for example, payee data collected from a payer customer), we are not obliged to provide information if to do so would involve disproportionate effort; and (c) we take the view that we can assume that data subjects have, and need not therefore make available, information which should reasonably be obvious to them.

The information to be made available is (a) our identity; (b) the purposes for which we expect to process the data; and (c) any further information that needs to be provided to ensure that our processing of the data is fair.

We must ensure that our customer contracts inform our individual customers of the following:our identity;
the purposes for which we process their information (including know-your-client and related compliance purposes as well as the execution of transactions and customer management generally); and the following further information, which, we consider, needs to be provided to ensure that our processing of customer data is fair:
the categories of person to whom we may disclose customer data (including, for example, non-customer payers and payees; aggregators; any persons with whom we might share data for fraud prevention purposes; and regulatory and prosecuting authorities);
the fact that, if payments are made to persons outside the European Economic Area, this may involve transfers of the customer’s personal data to jurisdictions which do not have data protection laws as strict as those in the UK; and
information as to the customer’s rights of access and correction under the GDPR, and contact details so that they can contact the Data Protection Officer if they want to exercise those rights Our customer contracts should also require customers to pass this information on to any individuals whose personal data they provide to us.

We take the view that we do not need to provide information to data subjects other than individual customers to justify our processing of their personal data for routine Customer and/or Transaction Management purposes. In particular:

We take the view that the effort involved in contacting an individual non-customer payer or payee, whose personal data are given to us by a customer, in order to provide him or her with information about our processing of his or her personal data, would be disproportionate given that we process his or her information only in order to facilitate a transaction of which he or she will in any case be aware.

We take the same view in relation to individual representatives of our customers – having required our customers to pass the required information on to their representatives we take the view that the effort involved in contacting the representatives directly would be disproportionate.

We must have in place appropriate technical and organisational security measures to protect the personal data that we process for Customer and/or Transaction Management purposes against unauthorised or unlawful processing and accidental loss, destruction or damage.

We need to identify the particular security measures that are “appropriate” in the context of our business. They must deliver a level of security which is appropriate to the nature of the data and the risks associated with unauthorised or unlawful processing and accidental loss, destruction or damage. We must, in particular, take reasonable steps to ensure the reliability of our employees who have access to the data.

If any aspect of our processing of personal data for Customer and/or Transaction Management purposes is outsourced to a third party service provider, including the outsourcing of any wider function which includes the processing of personal data, we must be assured that the service provider will have appropriate technical and organisational security measures in place as discussed in paragraphs above ;
ensure that the arrangement is governed by a written agreement which requires the service provider to process the data only on our instructions and imposes on the service provider obligations equivalent to our obligations as set out in paragraphs above; and

while the arrangement is in place, take reasonable steps from time to time to ensure that the service provider is meeting its security obligations in practice.

We must take reasonable steps to ensure that the personal data that we process are accurate and, where relevant, up to date.

We must delete personal data when we no longer need them, given the purposes for which they are processed. This does not, for example, prevent us from keeping records containing personal data which may be relevant if there is a future dispute with a customer or another person, but it does require us to delete those records when a dispute is no longer a real possibility unless we have another legitimate purpose for continuing to keep the personal data.

We do not seek to collect or process personal data identified by the GDPR as “sensitive” for Customer and/or Transaction Management purposes. You should not collect or process sensitive personal data for these purposes and should delete them if you become aware that we have collected them, except with the approval of the Data Protection Officer given on the basis of an assessment of the requirements of the GDPR.

The GDPR’s definition of “sensitive personal data” covers personal data consisting of information as to: racial or ethnic origin; political opinions; religious or other similar beliefs; trade union membership; physical or mental health or condition; sexual life; the commission or alleged commission of any offence; or any proceedings for any offence committed or alleged to have been committed, the disposal of such proceedings or the sentence of any court in such proceedings.

We do not use so-called “automated decision-taking” techniques for Customer and/or Transaction Management purposes. You should not use such techniques except with the approval of the Data Protection Officer given on the basis of an assessment of the requirements of the GDPR.

The GDPR’s restrictions on the use of automated decision-taking cover systems which make decisions which significantly affect individuals solely on the basis of the automated processing of their personal data, without any human intervention. Examples would be the use of automated credit-scoring tools to pre-screen credit applications and the use of automated tools to pre-screen applications for employment. Semi-automated systems, where the ultimate decision is made or reviewed by a human being, are not caught by these rules.

We maintain a registration with the Commissioner’s office which covers our processing of personal data for Customer and/or Transaction Management (and other) purposes.

You should keep the Data Protection Officer aware of material changes to the purposes for which we process personal data or, within any given purpose, the categories of personal data that we process, the categories of data subject to whom the data relate, the categories of person to whom we disclose the data or the countries or territories outside the European Economic Area to which we transfer the data, so that he or she can ensure that the registration is amended accordingly.

Data subjects have statutory rights of access to and correction of the personal data that we hold about them. They also have a statutory right to object to our processing of their personal data – that is, to require us to stop processing their data – although only in very limited circumstances. If a data subject attempts to exercise any of these statutory rights you should immediately pass his or her communication to the Data Protection Officer so that he or she can ensure that we respond appropriately and within the timescale laid down under the GDPR.

In recording and processing personal data for Customer and/or Transaction Management purposes you should bear in mind data subjects’ rights of access. You should not record personal data that you would not want the data subject to see.

Refund Policy

Please note, once a transaction has been processed, it cannot be recalled, therefore refund cannot be given.
A transaction can only be cancelled, if it has not been processed by us and any payments will be refunded. A administration fee of £3 will be charged.

For wire transfers, please make sure to include your client number as payment reference and transfer the money from your bank account to our account. We do not accept "Cash Deposits". If you deposit cash to our account, we will not process the transaction and no refund will be issued.

SpotOn Money is a trading name of Monex International Limited, a company incorporated under the laws of England and Wales with registration number 04974470 and authorised by FCA as a Small Payment Institution FRN-510848. Registered address: 32 Spring Street, Paddington, London, W2 1JA

© SpotOn Money. All rights reserved.