"CCYFX", "we", "us", or "our" refers to CCYFX Pay Inc. (British Columbia, Canada) and CCYFX Limited (Hong Kong, Co. 51615505), as applicable. "Client", "you", or "your" refers to the individual or entity that has entered into an agreement with CCYFX to use our services. "Services" means all payment, foreign exchange, corporate account, card issuance, and related services offered by CCYFX.
Our services are available to corporate clients and qualifying high-net-worth individuals that have successfully completed our onboarding and Know Your Business (KYB) or Know Your Customer (KYC) process. We reserve the right to decline any application at our sole discretion without providing reasons.
You represent and warrant that: (a) you have full legal authority to enter into this agreement; (b) all information provided during onboarding is accurate and complete; (c) you will promptly notify us of any material changes to your business, ownership structure, or circumstances; and (d) your use of our services complies with all applicable laws in your jurisdiction.
CCYFX provides dedicated IBAN accounts in multiple currencies. Account balances are held in trust with regulated banking partners. CCYFX does not hold a banking licence and is not a bank. Accounts are provided under our Money Services Business licence in Canada and relevant Hong Kong registrations.
FX services are provided on a spot, forward, or option basis as agreed with your account manager. Exchange rates are indicative until a transaction is confirmed. CCYFX acts as principal in FX transactions and earns a spread on the mid-market rate.
Payment processing times depend on the settlement rail used, the destination country, and applicable cut-off times. CCYFX does not guarantee settlement times and is not liable for delays caused by correspondent banks, regulatory holds, or force majeure events.
Corporate cards are issued subject to a separate card agreement. CCYFX or its card programme partners reserve the right to suspend or terminate card facilities at any time.
Fees are as published on our pricing page or as agreed in your client agreement. We reserve the right to amend our fees with 30 days' written notice. Fees for regulatory-required services (such as enhanced due diligence) may be applied at cost.
You acknowledge that CCYFX is subject to AML, CTF, and financial crime regulations in Canada, Hong Kong, and other applicable jurisdictions. You agree to: (a) provide all documentation requested for ongoing KYC/KYB purposes; (b) not use CCYFX services for any unlawful purpose; (c) not structure transactions to avoid reporting thresholds; and (d) promptly notify CCYFX of any change in beneficial ownership or business activities.
CCYFX may suspend or terminate your account, delay or refuse transactions, and report activity to relevant authorities where required by law or where we have reasonable grounds to suspect financial crime, without any liability to you.
You must not use our services in connection with: illegal activity of any kind; unlicensed financial services; sanctioned entities, individuals, or jurisdictions; activities that violate applicable payment network rules; or any purpose that could expose CCYFX to regulatory, legal, or reputational risk.
Client funds held in IBAN accounts are segregated from CCYFX's own funds and held with regulated banking partners. In the event of CCYFX's insolvency, client funds would not form part of the general assets available to creditors. However, CCYFX is not a deposit-taking institution and funds are not covered by deposit protection schemes such as CDIC (Canada) or HKDPB (Hong Kong).
To the maximum extent permitted by applicable law, CCYFX's total liability to you arising out of or in connection with the services shall not exceed the fees paid by you in the three (3) months preceding the event giving rise to the claim. CCYFX is not liable for indirect, consequential, or punitive losses, lost profits, or loss of business opportunity.
Either party may terminate the client relationship with 30 days' written notice. CCYFX may terminate or suspend services immediately and without notice in the event of: suspected fraud or financial crime; breach of these Terms; regulatory direction; or material changes to your business activities that render continued service inappropriate.
Upon termination, we will return any credit balances to a nominated bank account following completion of all required compliance checks.
These Terms shall be governed by and construed in accordance with the laws of British Columbia, Canada, without regard to conflict of law principles. Any dispute shall first be subject to good faith negotiation. If unresolved, disputes shall be referred to arbitration under the rules of the British Columbia International Commercial Arbitration Centre (BCICAC).
We reserve the right to update these Terms at any time. Material changes will be communicated with 30 days' notice. Continued use of our services following the effective date of any change constitutes acceptance of the revised Terms.
For enquiries relating to these Terms, please contact us at legal@ccyfx.com or via our contact page.