Terms and Conditions for Velocity Capital Pty Ltd (trading as FlowFX)
Welcome to FlowFX (“we,” “us,” or “our”), a remittance service operated by Velocity Capital Pty Ltd (ABN [22 643 450 926]). These Terms and Conditions (“Terms”) govern your use of our money transfer (collectively, the “Services”). By accessing or using our Services, you agree to comply with these Terms. If you do not agree, please do not use our Services.
1. Eligibility & Registration
1.1 You must be at least 18 years old and legally capable of entering into a binding contract to use our Services.
1.2 You must provide accurate, current, and complete information during registration and for all transactions.
1.3 We reserve the right to refuse service, suspend accounts, or terminate transactions at our discretion, particularly for compliance or fraud prevention reasons.
2. Services Provided
2.1 FlowFX facilitates domestic and international money transfers.
2.2 Exchange rates, fees, and transfer limits will be clearly displayed before you confirm a transaction.
2.3 Transfer times vary depending on:
- Destination country
- Payment method (bank transfer, card, etc.)
- Compliance verification requirements
3. Fees & Exchange Rates
3.1 All applicable fees, exchange rates, and transfer limits are subject to change without prior notice.
3.2 You are responsible for all transaction fees, including potential charges from intermediary banks or receiving institutions.
3.3 We may apply a margin to exchange rates, which will be disclosed before confirmation.
4. Prohibited Activities
You must not use FlowFX for:
- Illegal activities (e.g., money laundering, fraud, terrorism financing).
- Circumventing financial regulations (e.g., structuring transactions to avoid reporting).
- High-risk jurisdictions or sanctioned countries as per AUSTRAC and Australian laws.
- Providing false or misleading information.
5. Compliance & Anti-Money Laundering (AML)
5.1 Under Australian law, we are required to:
- Verify your identity (KYC checks).
- Monitor transactions for suspicious activity.
- Report certain transactions to AUSTRAC.
5.2 We may request additional documents (e.g., ID, proof of address, source of funds) before processing transactions.
5.3 Transactions may be delayed, blocked, or frozen if we suspect illegal activity.
6. Refunds, Cancellations & Errors
6.1 Transaction Cancellation:
- Once a transfer is initiated, cancellations may not be possible due to real-time processing.
- If cancellation is requested before execution, we will make reasonable efforts to stop the transaction (subject to third-party constraints).
6.2 Incorrect Recipient Details:
- If a transfer fails due to errors in recipient information (e.g., wrong account number), we will:
- Make best efforts to recover funds in collaboration with partner banks/institutions.
- Return recovered amounts minus applicable fees (processing, currency fluctuations, or intermediary charges).
- No guarantee of recovery – If funds are irretrievably delivered to the wrong recipient due to your error, we cannot reclaim them.
6.3 Refund Processing:
- Refunds (where applicable) typically take 5–10 business days, depending on banking processes.
- Delays may occur if additional compliance checks are required.
6.4 Disputed Transactions:
- If you believe a transaction was unauthorized or erroneous, notify us immediately at support@flowfx.com.au.
- We will investigate and endeavour to resolve the issue within 10 business days.
7. Liability & Disclaimers
7.1 We are not liable for:
- Delays caused by third parties (banks, payment processors, etc.).
- Losses due to incorrect recipient details provided by you.
- Changes in exchange rates after transaction confirmation.
7.2 Our Services are provided “as is”—we do not guarantee uninterrupted or error-free transactions.
8. Privacy Policy
Your personal and financial data is handled in accordance with our Privacy Policy. We comply with the Privacy Act 1988 (Cth) and Australian Privacy Principles (APPs).
9. Changes to Terms
We may update these Terms at any time. Continued use of FlowFX after changes constitutes acceptance.
10. Complaints & Contact
If you have concerns, contact us at:
📧 Email: [info@flowfx.com.au]
📞 Phone: [+61 4 6002 9384]