Kabayan Capital Ltd t/as Kabayan Remit, a UK entity (“Kabayan UK”), with its registered office at Eco Business Centre, Elmsbrook, Charlotte Ave, Bicester, OX27 8BL, company registration number 08111867, is the parent company of a group providing money remittance services to the Filipino community in the UK, mainland Europe and North America. Kabayan Capital Ltd is authorised and regulated by the Financial Conduct Authority for the provision of payment services under Authorised Payment Institution (API) Reference number 710792. Kabayan Capital Ltd is licensed and regulated by HMRC as a Money Services Business (MSB) under License Number 12689111. The Kabayan Remit Group has offices in the UK, Canada, the USA, and the EU and a contact centre based in Manila, Philippines (“Group”, “us” or “we”).
Kabayan is a recognised brand in the Filipino community and the company uses direct marketing, attendance at cultural events and barrio fiestas etc. as well as digital marketing campaigns in order to promote the online remittance services. External agents are not used for any sales and payments are taken via online banking or by debit card only, no cash is accepted.
The purpose of these terms and conditions is to clarify the terms that apply to the business relationship between the relevant Group company and each Remitter (as defined below). These Terms should be read in conjunction with:
- Acceptable Use Policy; and
- The Privacy Policy that applies to the jurisdiction the Remitter is situated in.
Both of the above documents, when taken together with these terms and conditions, referred to as “Terms”.
These Terms regulate the relationship between each relevant Group Company and each and every Remitter. These same Terms apply to all Remitters of the Group, regardless of serviceable jurisdiction, unless expressly provided otherwise.
In these Terms, the following definitions will apply:
- “Beneficiary” means the recipient of funds in the Philippines nominated by the Remitter in the Remittance Application Form;
- “Customer Registration Form” means the customer information form used by the Group for initial and periodic customer identification and verification as may be required by law;
- “Parties” means the Remitter and the Group
- “Remittance Application Form” means the payment instruction form, completed by the Remitter, which sets out the details of each Transaction;
- “Remitter” means the natural person instructing the Group to execute a Transaction. The Remitter may also be referred to as “they” in these Terms. The Remitter may only be a natural person; the Group does not provide services to any entity other than natural persons;
- “Service Fee” is the amount to be paid to the Group in consideration of executing the Transaction and is in addition to the Transaction Amount;
- “Service Provider” means a local bank or any other third-party service provider used in connection with each Transaction;
- “Terms” together these terms and conditions, in conjunction with the Acceptable Use Policy and Privacy Policy, and, if appropriate, the Remittance Application Form;
- “Transaction” means the transfer of money from the relevant jurisdiction to the Philippines;
- “Transaction Amount” means the amount of the remittance that the Remitter intends the Beneficiary to receive excluding any and all fees and charges applied by the Group and any foreign exchange conversion that may apply.
By registering with the Group, the Customer agrees to be bound by these Terms and they confirm that they are at least eighteen (18) years of age, a resident of the country they are registering as a customer in and legally capable of accepting and agreeing to these Terms. These Terms, together with the Customer Registration Form, Remittance Application Form, Acceptable Use Policy and the relevant Privacy Policy (all as may be in force from time to time) form the entire agreement between the Remitter and the Group and describes the agreement between the Parties each time the Remitter instructs the Group to execute a Transaction on their behalf.
The Remitter hereby warrants that they have completed the Customer Registration Form on their own account. The Remitter acknowledges that the Group has legal obligations to comply with when an account is opened and they warrant that all the information and documentation provided during this process is genuine and accurate.
The Remitter agrees that they will register and create a profile with the Group only once. Should the Remitter create another profile despite having a preceding valid registration, the Group may disable the later registration and direct the Remitter to use their previously created valid account.
The Remitter further agrees to provide the Group with any changes to the personal information provided on their Customer Registration Form, including, but not limited to, name, address, occupation, source of funds/wealth and contact details as soon as practicable after such change has occurred.
The Remitter authorises the Group to take any action and make any enquiries of third parties it deems fit to comply with any laws or regulations applicable to the registration of the Remitter or the ongoing relationship between the Parties.
The Group maintains appropriate levels of security to protect the integrity and function of the operating system used to provide the Group’s services; it also has systems in place to protect all data collected, stored and processed in the course of the Group’s business.
The Remitter acknowledges and accepts it is their own responsibility to maintain control and security over their own user ID’s, passwords and any other log in credentials. The Remitter agrees to inform the Group immediately upon becoming aware of a loss or compromise of any credentials used to access the Group’s systems or if they notice any other suspicious activity related to their account. In the event the Remitter does not maintain control and security over their own security credentials, The Group shall not be liable for any loss, damage, or injury suffered by the Remitter due solely to their fault and/or negligence in case of breach or loss of their user credentials and the Remitter further agrees they are liable to the Group and any third party customer of the Group for 100% of any losses incurred (whether directly in financial losses or indirectly, for example external professional fees) as a result of such loss or compromise of the security data.
In the event the Group has any concerns about the security of a particular account, the Group reserves the right to take whatever action it deems necessary to prevent any loss or compromise of its systems.
The Remitter agrees to pay the Group the Service Fee and the Transaction Amount. The exact amount of the Service Fee will be confirmed upon submission of the Remittance Application Form. The basis of the calculation of the Transaction Amount and the Service Fee will be explained before execution of the Transaction and any fees will be in the originating currency. The exchange rate from originating currency to Philippine Peso (“PHP”) will be confirmed at the same time.
Once a Remitter has registered and been verified by the Group, they are able to submit Remittance Application Forms. By submitting a Remittance Application Form the Remitter is asking the Group to transmit the Transaction Amount to the Beneficiary.
The Remitter warrants that any Remittance Application Form completed is executed on their own account and the Remitter is not conducting or instructing the Group to execute any Transactions on behalf of any third party. The Remitter represents and warrants that they will not transmit funds on behalf of any third party.
Payment of the Transaction Amount and the Service Fee may only be made by: (i) debit card; (ii) online money transfer; or (iii) direct from a bank account, opened and maintained in the same jurisdiction as the originating funds or connected to such an account (in the case of a debit card) (i.e. a US bank account for US Dollars, a UK bank account for Pounds Sterling, a CA bank account for Canadian Dollars, etc.).
Once the Remittance Application Form has been accepted as validly executed therefore approved, the Group agrees to process the Transaction as promptly as possible. Each time a Remittance Application Form is submitted, the Group reviews the parties, the Transaction and any other relevant factors (in compliance with regulatory obligations) to assess if the request produces any issues. It is only at the point where the Group agrees to accept the Remittance Application Form the request is deemed “approved”.
The Remitter acknowledges that, when a Remitter Application Form has been submitted, they may be required to provide documents to confirm their own or the Beneficiary’s identity before a Transaction is approved or funds are sent. The Group reserves the right to request additional documentary evidence to establish the source of funds, source of wealth, rationale or reason for the Transaction or such other information as the Group may be required to obtain to under the laws, regulations, rules, and policies the Group is required to comply with.
The Remitter acknowledges that the Group may refuse the processing of their Remitter Application Form when the same would breach these Terms, or any applicable local, national, or international law or regulation.
In the event that any Transaction is cancelled by the Group before being completed, the Transaction Amount and the Service Fee will be returned as soon as practicable.
Once a Remittance Application Form is accepted, the Group agrees it will remit the Transaction Amount to the Beneficiary as instructed. It is the Group’s intention that any Transaction Amounts are delivered to the Beneficiary as soon as possible and this generally happens within 1-2 hours, however, the Group cannot guarantee this timescale. The delivery times as posted represent the general service time and is not a warranty of an individual processing time of a Transaction.
The Group has many Service Providers helping to execute transactions (in particular banks) and the Group is unable to influence the speed at which the Service Providers process Transactions; the Group will endeavour to “move things along” but this is not always possible. The result of this is that Transactions may take1-2 days. This is not common and it is always the Group’s intention that a Transaction is fulfilled as fast as possible and it works tirelessly to ensure fast and safe remittance of funds.
The Group aims to facilitate the processing of the Remittance Application Form forwarded by the Remitter and undertakes, once accepted, to remit the Transaction Amount to the designated Beneficiary at the earliest possible opportunity.
The Remitter acknowledges that the processing and/or fulfilling of a Remittance Application Form may be delayed due to, but not limited to, force majeure, variations in bank clearing and corporate hours, currency availability, compliance with existing regulations, or for other reasons which are beyond the control of the Group.
The Group confirms it has all necessary consents and has registered with all the appropriate authorities to enable it to provide its’ services in each jurisdiction in which it operates.
To the extent permitted by law, the Group expressly excludes all conditions, warranties and terms which may be implied by statute, common law or equity.
Furthermore, the Group shall not be liable for any delay or failure to process a Remittance Application Form due to circumstances beyond the Group’s control, including but not limited to, electrical and telecommunication disruptions, natural calamities, civil disturbances, or any lawful order issued by duly constituted authorities in the jurisdiction where the Remitter Application Form is executed.
This does not affect our liability for death or personal injury arising from our negligence, nor our liability for any fraudulent misrepresentation, nor any other liability which cannot be excluded or limited under each countries’ applicable law.
A Remitter may close their account at any time by contacting the Group, subject to the retention of any data or information required by applicable law or regulation.
Additionally, the Group reserves the right to close an account in the event the account has been inactive for a continuous period of at least two (2) years.
Furthermore, the Group has the right to suspend and/or finally terminate the account of a Remitter when it has determined, after investigation, that there are reasonable grounds to suspect that the latter has been using the Group’s services in violation of these Terms and its attached Policies.
These Terms are for the sole benefit of the Parties and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or will confer upon any other person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of these Terms.
All complaints can be sent via e-mail to [email protected]. Alternatively, the Remitter can write to the office location in their jurisdiction (details available on the Group website).
The Group reserves the right to revise, update, or otherwise modify these Terms without prior notice to the Remitter.
Should the Remitter disagree with any changes made, they may elect to close their account subject to Clause 9 of these same Terms.
The failure of the Group to enforce any right or provision of these Terms shall not constitute a waiver of the same right or provision. No waiver of the provision of these Terms shall be effective unless it is made in writing and signed by the Remitter and the Group.
In the event any provision of these Terms is determined to be void or unenforceable, such determination shall not affect the remainder of these Terms, which shall continue in force.
These Terms shall be subject to and interpreted in accordance with the laws of the country in which the Remitter has registered for the Group’s services:
- For Remitters registered with the Group in the United Kingdom, the laws of England and Wales. The Parties irrevocably submit to the jurisdiction of the courts of England and Wales.
- For Remitters registered in Canada, with the exclusion of Quebec, the laws of Ontario and the relevant federal laws of Canada. The Parties irrevocably submit to the exclusive jurisdiction of the courts in the province of Ontario.
- For Remitters registered in the province of Quebec in Canada, the laws of Quebec and the relevant applicable federal laws of Canada. The Parties irrevocably submit to the exclusive jurisdiction of the courts in the province of Quebec.
- For Remitters registered in the United States, the laws of the State of New York. The Parties irrevocably submit to the jurisdiction of the courts of the State of New York.
