Terms and Conditions
End User T&C for 6G MUSTAFA PAY REMITTANCE SERVICES
INTRODUCTION
6G Mustafa Pay remittance services are provided by Mustafa Foreign Exchange Pte. Ltd. (“Mustafa FX”), a Licensed Remittance provider with company registration number 200611112D and registered address at 5, Verdun Road, #01-02/03, SPA Building, Singapore, 207274, in collaboration with 6G Digital Private Limited (“6G Digital”), a Singaporean technology company with a company registration number 201805434N and registered address at 14 Robinson Road, #12-01/02 Far East Finance Building, Singapore 048545.
By using the 6G Mustafa Pay Cross-border money transfer service you can securely and conveniently send money to overseas. By accessing and using the 6G Mustafa Pay remittance service, you agree to be bound by these Terms and Conditions (“Agreement”). Please carefully review these terms before proceeding with any remittance transactions.
DEFINITIONS
For the purposes of this Agreement, the following terms shall have the following meanings:
Beneficiary: The individual or entity designated by the Sender to receive the remittance.
Exchange Rate: The rate at which one currency is converted into another currency.
Fees: The charges applied by 6G Mustafa Pay for remittance services.
Funds Transfer: The electronic transfer of funds from the Sender’s account to the Beneficiary’s designated account.
Cross-border Payments: International transfers of funds, sent by individuals to individuals overseas.
Identification Document: A valid government-issued document, such as a passport, driver’s license, or national identification card, used to verify the identity of the Sender.
Payment Method: The method used by the Sender to fund the remittance transaction, such as e-wallet payment, bank transfer, credit card, or debit card.
Purpose of Remittance: The reason for sending the remittance, such as family expenses, business expenses, or education.
Regulation: Any law, rule, or guideline issued by a governing body that applies to remittance services.
Remittance: The transfer of money from one person or entity to another, typically across international borders.
Remittance Amount: The total sum of money being sent in a remittance transaction.
Remittance Service: The services provided by 6G Mustafa Pay to facilitate the transfer of funds from Senders to Beneficiaries.
Sender: The individual or entity initiating a remittance transaction.
Transaction: A single remittance transaction, involving the transfer of funds from the Sender to the Beneficiary.
Transaction Status: The current state of the remittance transaction, such as pending, processing, or completed.
Tracking Number: A unique identifier assigned to each remittance transaction for tracking purposes.
User: Any individual who accesses and uses the 6G Mustafa Pay remittance service.
Verification: The process of confirming the identity and legitimacy of the Sender, Beneficiary, and transaction details.
Anti-Money Laundering (AML): A set of regulations, procedures, and practices aimed at preventing and detecting money laundering, which is the process of disguising the proceeds of criminal activity as legitimate funds.
Compliance: Adherence to applicable laws, regulations, and industry standards related to remittance services.
Customer Due Diligence (CDD): The process of verifying the identity and legitimacy of customers to prevent financial crime and comply with AML regulations.
Know Your Customer (KYC): A component of CDD that involves identifying and verifying the identity of customers to ensure that they are not involved in illegal activities.
Sanctions: Economic measures imposed by governments or international organizations to restrict trade or financial transactions with certain countries, individuals, or entities.
Terrorist Financing: The act of providing financial or material support to terrorist organizations or activities.
Transparency: Openness and clarity in the provision of remittance services, including clear disclosure of fees, exchange rates, and transaction terms.
Unforeseen Circumstances: Events beyond the control of 6G Mustafa Pay that may affect the delivery of remittance services, such as natural disasters, technical disruptions, or political unrest.
ELIGIBILITY
Applicants shall ensure the satisfaction of the eligibility criteria set out herein, including any revisions which Mustafa FX may make from time to time at its absolute discretion. Mustafa FX reserves the right to refuse to provide or suspend or terminate the Service in whole or in part, in the event that the eligibility criteria are not met, or cease to be met, as the case may be.
To use the 6G Mustafa Pay remittance service, you must meet the following eligibility criteria:
Be at least 18 years old.
Possess a valid Singapore identification document, Work Pass, S-Pass, Employment Pass or NRIC (National Registration Identity Card).
Have a valid Singapore registered mobile number.
ACCOUNT REGISTRATION
To initiate remittance transactions, you must download and onboard with the 6G Mustafa Pay app. The registration process requires you to provide accurate and complete information, including:
Full name
Email address
Singapore phone number
Residential address
A valid government-issued identification document
Verification of your identity may be required, and you may be asked to provide additional documentation or information to ensure compliance with regulatory requirements.
VERIFICATION
6G Mustafa Pay is committed to preventing financial crimes and upholding the highest standards of compliance. As such, we may require you to provide additional verification information, such as:
Bank statements
Pay stubs
Other financial documents
This verification process helps us ensure the legitimacy of your transactions and protects the integrity of our platform.
TRANSACTIONS
Once you are a registered and verified user, you can initiate remittance transactions through the 6G Mustafa Pay platform. To send a remittance, you will need to provide the following details:
The Beneficiary’s name and address
The remittance amount
The preferred payment method
The purpose of the remittance
Please review the terms and conditions carefully before confirming the transaction.
FEES AND EXCHANGE RATES
6G Mustafa Pay charges fees for its remittance services. The fees vary depending on several factors, including:
The remittance payout method
The destination country
The amount being sent
You will be informed of the applicable fees in the app before confirming the transaction. Additionally, 6G Mustafa Pay applies a competitive exchange rate to each Transaction, which may fluctuate based on prevailing market conditions.
PAYMENT AND DELIVERY
The Sender is responsible for paying all fees associated with the Transaction. 6G Mustafa Pay will only proceed with processing a Transaction if payment has been received.
6G Mustafa Pay is committed to delivering remittances promptly and efficiently. However, delivery timeframes may vary due to factors beyond our control, such as:
The destination country and its banking system
Local banking practices
External factors such as holidays or unforeseen circumstances
The 6G Mustafa Pay app will generate a tracking number the Sender can use to monitor the status of the Transaction. You can check the remittance status in the 6G Mustafa Pay app or contact our customer support team for assistance.
CANCELLATION AND REFUNDS
The Sender may request to cancel a Transaction before funds are disbursed to the Beneficiary. However, such cancellation requests may be subject to applicable fees, and the feasibility of a refund depends on the timing of the cancellation request.
Refunds are processed at the discretion of 6G Mustafa Pay and will be issued to the Sender’s account using electronic payments.
SAFEGUARDING & USER PROTECTION
At 6G Mustafa Pay, we prioritize the security of your funds. Upon receiving customer funds at Mustafa FX or through the 6G Mustafa Pay app, they are immediately transferred and securely stored in a dedicated Mustafa FX bank account at DBS. In the event of a failed remittance transaction, the sent amount will be promptly refunded to the customer as an electronic payment.
COMPLIANCE WITH LAWS
6G Mustafa Pay and its customers are obligated to comply with all applicable laws and regulations governing remittance services. This includes adherence to the financial regulations of the countries involved in the Transaction. We are committed to conducting our business with the utmost integrity and upholding the highest compliance standards.
KYC (KNOW YOUR CUSTOMER) AND AML (ANTI-MONEY LAUNDERING)
6G Mustafa Pay is committed to preventing financial crime and money laundering. As such, we adhere to stringent KYC and AML procedures to verify the identity of our customers and the source of funds being remitted. This may involve:
Collecting and verifying personal information
Obtaining copies of government-issued identification documents
Screening against sanctions lists and watchlists
Monitoring transactions for suspicious activity
These measures help us safeguard the integrity of our platform and protect against the misuse of our services for illicit purposes.
TRANSACTION LIMIT
Transaction limits for the app are as per below:
Limit per transaction (SGD 1,500 or SGD 3,000)
Daily transaction limit (SGD 5,000)
Monthly transaction limit (SGD 5,000)
Yearly transaction limit (SGD 30,000)
GOVERNING LAW AND JURISDICTION
This Agreement shall be governed by and construed in accordance with the laws of Singapore. The courts of Singapore shall have exclusive jurisdiction over any disputes arising out of or in connection with this Agreement.
CONTACT US
If you have any questions or concerns about these Terms and Conditions or the 6G Mustafa Pay remittance service, please feel free to contact us at support@6gmustafapay.com Our customer support team is available to assist you promptly and effectively.
ELECTRONIC COMMUNICATIONS
By agreeing to these Terms and Conditions, you consent to receive electronic communications from 6G Mustafa Pay, such as emails, text messages, and push notifications. These communications may include important account updates, service announcements, and marketing messages. You may opt out of receiving marketing communications by contacting us at support@6gmustafapay.com
DATA PRIVACY
6G Mustafa Pay is committed to protecting your privacy and safeguarding your personal data. We collect, use, and disclose your personal data in accordance with our Privacy Policy, which is available on our website.
INDEMNIFICATION
You agree to indemnify, defend, and hold harmless 6G Mustafa Pay, its officers, directors, employees, agents, and affiliates, from and against any and all claims, liabilities, damages, losses, costs, expenses, and fees (including reasonable attorneys’ fees) arising out of or in connection with your use of the 6G Mustafa Pay remittance service, your violation of these Terms and Conditions, or your negligence or misconduct.
FORCE MAJEURE
6G Mustafa Pay shall not be liable for any failure or delay in performance of its obligations under this Agreement if such failure or delay is caused by an event beyond its reasonable control, including but not limited to acts of God, war, terrorism, labor disputes, government regulations, or natural disasters.
SERVICE UPDATES AND MODIFICATIONS
6G Mustafa Pay may periodically update or modify the remittance service to enhance its features, functionality, and security. These updates may involve introducing new features, removing certain functionalities, or implementing changes to the user interface. We will endeavor to provide timely notice of any significant changes that may impact your remittance experience.
TERMINATION
6G Mustafa Pay reserves the right to terminate your account or restrict your access to the remittance service if you violate any of these Terms and Conditions or engage in any activities that we deem harmful or detrimental to our service.
LIMITATION OF LIABILITY
6G Mustafa Pay shall not be liable for any direct, indirect, incidental, consequential, special, or exemplary damages arising out of or in connection with your use of the remittance service. This includes damages for loss of profits, loss of data, or business interruption.
DISPUTE RESOLUTION
Any disputes arising out of or in connection with these Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore. The courts of Singapore shall have exclusive jurisdiction over any such disputes.
CONTACT US
If you have any questions or concerns about these Terms and Conditions or the 6G Mustafa Pay remittance service, please feel free to contact us at support@6gmustafapay.com Our customer support team is available to assist you promptly and effectively.
UPDATES TO TERMS AND CONDITIONS
6G Mustafa Pay reserves the right to update or modify these Terms and Conditions at any time. Any changes will be posted on the 6G Mustafa Pay website and will become effective immediately upon posting. Your continued use of the remittance service following the posting of any changes constitutes your acceptance of such changes.
We encourage you to periodically review these Terms and Conditions to stay informed of any updates or modifications.
Last Updated: 28th November 2023