TERMS AND CONDITIONS CASH-IN AND CASH-OUT
These Terms and Conditions govern your Cash-in and Cash-out via INSTAPAY Transactions. It is hereby understood that you voluntarily agree to be bound by the terms and conditions once you availed either the Cash-in or Cash-out Service contemplated hereof.
Under these Terms and Conditions, the words “we”, “us”, and “our” refer to USSC Money Services, Inc., Universal Storefront Services Corporation and its respective employees, directors, affiliates, successors and assigns.
1.1. 'USSC' means Universal Storefront Services Corporation, a corporation primarily engaged in the business of sending, processing and distributing money remittances through its company-owned service stores and sub-agents nationwide;
1.2. 'UMSI' means USSC Money Services Inc. an entity duly licensed by the Bangko Sentral ng Pilipinas as an Electronic Money Issuer (EMI). UMSI is wholly owned by USSC and primarily engaged in the business of e-money and other activities related or incidental to the business of e-money such as the issuance/creation of UMSI Accounts and e-wallets and acquiring merchants to accept payments through various channels like Cards and other electronic means. UMSI is also a non-bank e-money issuer participant of INSTAPAY;
1.3. 'U Mobile Wallet' is an Electronic wallet in which, its account holders may send and receive money electronically, or put a cash in an electronic account that maybe withdrawn by them over-the-counter in any of the storefronts of USSC and other authorized partners of UMSI, or maybe used for payments or transactions electronically. The value loaded into the U Mobile Wallet is stored in UMSI’s system and any cash-out and / or purchases shall be debited against the loaded balance of the wallet.
1.4. 'INSTAPAY', refers to an electronic fund transfer (EFT) service that allows customers to transfer PHP funds almost instantly between accounts of participating BSP-supervised banks and non-bank e-money issuers in the Philippines. The service is available 24x7, all year round;
1.5. 'Pay1st' means the payment module which provide a non-bank payment gateway for the customers thru any eligible USSC branches and other partners with provision for web-based and short messaging system (SMS) monitoring platform;
1.6. 'Customer' means “You”, an individual who avails the Cash-in or Cash-out Service under this Terms and Conditions;
1.7. 'Beneficiary’ means the recipient of the money sent by the customer, it also refers to the customer who receives the money in his Cash-out transaction;
1.8. 'Cash-in' means a transaction which allows a customer to load or send money to his/her own, or another person’s e-wallet or bank account through his/her U Mobile Wallet;
1.9. 'Cash-out' means a transaction which allows a customer using an application from any INSTAPAY participant to withdraw cash from his/her own e-wallet or bank account through his/her U Mobile Wallet
1.10. 'Partner location' refers to any USSC branches or other duly registered and authorized partner of UMSI to perform Cash-in and Cash-out Services within the Philippines;
1.11. 'First Line Ambassador (FLA)' means the USSC or other authorized partner’s personnel that handles the cash-in and cash-out transactions;
1.12. 'Application' is a medium or mobile technology wherein a customer can use and access his/her e-wallet or bank account and perform his/her regular transactions for products and services provided therein;
2. Availability of the Cash-in and Cash-out Service and Transaction Limit
2.1. Customers with a U Mobile Wallet Account, or any savings, current, or e-money accounts (with or without ATM/debit cards) from other INSTAPAY participating institutions may avail the cash-in and cash-out service for sending and/or receiving funds via INSTAPAY, as the case may be. However, if the customer doesn’t have a U Mobile Wallet Account, the Customer must first agree to the creation of his/her U Mobile Wallet Account as well as the terms and conditions thereof before conducting his/her cash-in or cash-out transaction.
2.2. Customers must exercise due care in providing the correct information and amount for cash-in or cash-out. Customers should check the information carefully before allowing the transaction to proceed. Funds transferred via INSTAPAY are credited almost immediately and with finality. If a customer transferred funds to a wrong beneficiary account, the customer should inform their bank or non-bank e-money issuer as soon as possible.
2.3. Cash-in and Cash-out Transactions and Wallet balance limits may be modified or implemented by UMSI at its own discretion, subject to the applicable laws and/or any regulations imposed by the BSP, and upon fifteen (15) days prior notice to its Customers. Currently, the following transaction limits apply
Further, the customer should contact their bank or non-bank e-money issuer to verify if there is also a minimum amount for sending via INSTAPAY or a daily limit on the aggregate amount a customer may transact in a day.
3. Data Gathering, Privacy, Protection, and Consent
3.1. You acknowledge that during the processing of your cash-in or cash-out transaction, personal and/or sensitive personal data (“data”), which includes your name, date of birth, gender, address, e-mail address, mobile number, source of income, and identification card, shall be asked from you or forms shall be filled up requiring these data. The collection, use or processing of these data shall be in accordance with Data Privacy Act of 2012. In addition to these data, a photograph of your face shall be taken and you will be required to undergo fingerprint scanning or biometrics for personal identification and security purposes. You give your consent to the collection and necessary use of these data, such as but not limited to the following purpose/s
- Personal identification for completing your cash-in or cash-out transaction
- Personal identification or Know-Your-Customer (KYC) procedures pursuant to the law on anti-money laundering and anti-terrorist financing;
- Validation of transaction for the Cash-in and Cash-out service;
- Creation of a U Mobile Wallet Account (for customers who do not have a U Mobile Wallet Account)
- Business or commercial purposes related to Cash-in and Cash-out Services under this terms and conditions and/or third party commissioned studies or analytics related to the subject service;
- Provide Advisories, convey, offer, and advertise our products, services, to Customer; and
- Other legitimate, business or commercial purposes which USSC may determine from time to time;
3.2. Accuracy of Information - You are responsible for and must take all reasonable care to ensure the information you supply is accurate. We accept no responsibility and liability for the accuracy of the information or for failure to transmit such information in the manner requested by you.
3.3. Disclosure of Information to Third Parties - You agree that USSC may disclose information to authorized third parties regarding your Cash-in and Cash-out Transactions (a) where it is necessary for completing transactions; (b) to verify the existence and condition of the transactions to an authorized third party; (c) to utilize services of third parties and affiliate entities who assist UMSI in providing the Cash-in and Cash-out Service; (d) to comply with the rules, regulations, administrative circulars and letter-instruction issued by the government or its agencies and instrumentalities, court orders, processes and writs; (e) for the establishment of any legal claim under these terms and conditions where it may be released to attorneys, accountants, collection bureaus, financial institutions, and others involved in collection, adjustment, settlement or reporting; (f) to protect against potential fraud and other crimes involving the funds in your transaction; or (g) when otherwise permitted by law.
4. Cash-in via INSTAPAY Process
4.1. Visit any USSC or partner location and inform the FLA that you would like to cash-in/send to your or to a beneficiary’s savings, current, or e-money account from an INSTAPAY participating institution;
4.2. The FLA will then conduct the standard KYC contemplated under Section 3;
4.3. Thereafter, the FLA will create a record for the customer along with a U Mobile Wallet should the customer be a first-time USSC customer and / or has no U Mobile Wallet yet. Process will not proceed without aforementioned requirements
4.4. Provide the name, savings, current, or e-money account, account number of Beneficiary and amount to cash-in/send;
4.5. Pay the principal amount and the corresponding service fee;
4.6. Thereafter, the FLA will input the details for the cash-in transaction and review the same prior to its submission
4.7. After validating the accuracy and veracity of the details, the FLA will then submit the transaction for your confirmation;
4.8. You will then confirm the transaction by affixing your signature using the digital pad. (NOTE by affixing your signature, you hereby confirm that you read, understood, and accepted the foregoing terms and conditions);
4.9. Upon completion of your Cash-in transaction, the FLA will issue a transaction receipt.
5. Cash-out via INSTAPAY Process
5.1. Visit any USSC or partner location and inform the FLA that you would like to cash-out to your sav-ings, current, or e-money account from an INSTAPAY participating institution;
5.2. The FLA will then conduct the standard KYC contemplated under Section 3;
5.3. Thereafter, the FLA will create a record for the customer along with a U Mobile Wallet should the customer be a first-time USSC customer and / or has no U Mobile Wallet yet. Process will not proceed without aforementioned requirements.
5.4. You will then Scan the QR Code of the Pay1st account of the partner location using your mobile banking or e-Wallet application;
5.5. You will then be required to indicate the amount that you will cash out, and upon confirming the same, you have to submit the transaction; (NOTE Transaction fees may be imposed by your savings, current, or e-money account institution. We have no control or participation in this specific stage of the transaction, hence, if the transaction turns out unsuccessful, you may have to contact your bank or e-money issuing institution.)
5.6. At this juncture, the amount you transacted will be transferred in USSC branch’s or Partner Loca-tion’s Pay1st Wallet and the same will be placed on queue in the Universal Cashering System (UCS);
5.7. Thereafter, the FLA will select your name on queue in the UCS and selects cash out;
5.8. The FLA will then review the transaction details and submits the same upon verification;
5.9. You will then confirm the transaction by affixing your signature using the digital pad. (NOTE by affixing your signature, you hereby confirm that you read, understood, and accepted the foregoing terms and conditions).
5.10. Finally, the FLA shall disburse the cash-out amount net of the service fees for the cash out trans-action and issue a transaction receipt. (NOTE The cash-out fee is different from the transaction/service fee imposed during the transfer of your cash-out amount from your savings, current, or e-money account to the pay1st wallet. The fee may vary depending on each participating institution’s pricing strategy and we )
6. Fees and Charges
6.1. By availing the cash-in and/or cash-out service, you hereby agree to the fees and charges imposed by us. You also agree that the said fees are non-refundable after the completion of the transaction.
6.2. USSC and UMSI reserves the right to amend any fees from time to time at its absolute discretion. The Fees shall take effect and apply to the customer upon announcement in the manner deemed appropriate by USSC and UMSI. Upon using the Services after the amended Fees apply, the customer shall be deemed to have accepted such amended Fees without any reservation.
7. Limitation of Liability
7.1. USSC and UMSI shall not be held liable for any loss or damage incurred by the Customer as a result of any misuse or abuse of the Services contemplated herein, any error committed by the Customer, malfunctioning in the Services due to a mistake on the part of the Customer, insufficient balance in the Customer’s Bank or E-money Account, or any other reason due to the fault or negligence of the Customer. USSC and UMSI shall also not be held liable for any malfunctioning in banks or e-money issuer institutions, IPN and\or telecommunication networks related to the Services, provided that there is fault on the part of USSC and UMSI
7.2. The Customer agrees and acknowledges that in the absence of fault or gross negligence on the part of USSC and UMSI, they shall not be liable for any damages whatsoever whether such damages are direct, indirect, incidental or consequential and irrespective of whether any claim is based on loss of revenue, interruption of business. While USSC and UMSI shall endeavour to promptly execute and process the transactions as instructed by the Customer, they shall not be responsible for any interruptions, non-response, or delay in responding due to any reason whatsoever, including due to failure of operational systems or any change of laws, policies, or issuances of relevant government agencies.
7.3. USSC and UMSI shall not be liable for any loss, claim or damage suffered by the Customer and/or any other third party arising out of or resulting from failure of any transaction initiated via INSTAPAY due to and not limited to time out transaction i.e., where no response is received from any party participated in the transaction processing.
8.1. You shall indemnify and keep USSC, UMSI, or its authorized partners fully indemnified against all claims, demands, actions and proceedings which may be made against them and in respect of any and all damages, liabilities, losses, costs and expenses (including legal costs on a full indemnity basis) which may be incurred, sustained or suffered by us, directly or indirectly, due to your abuse or misuse of the Cash-in and Cash-out Service, negligence, misconduct or breach of any of these Terms and Conditions by you and/or any other act, thing or matter arising out of or in connection with these Terms and Conditions.
9. Cost and Venue of Suit.
9.1. In case of any litigation arising from your cash-in or cash-out transactions, you shall pay the cost and expenses of litigation and attorney’s fees equivalent to 25% of the amount involved and in any case not less than P10,000.00
9.2. Any legal actions arising hereunder shall be adjudicated before a court of competent jurisdiction located in Quezon City, to the exclusion of all other courts
10. Amendments and Notices.
10.1. We may modify, change, amend, or revise at anytime these Terms and Conditions or any features of the Cash-in and Cash-out Service as we may deem necessary for the best interest of USSC, UMSI, and the customers.
10.2. Notices of such changes shall be posted in USSC’s and other partner’s branches and the official websites of USSC and UMSI and such other platforms as may be deemed proper by USSC and UMSI.
10.3. You hereby agree that you are deemed to have accepted whatever changes in the Terms and Conditions if you use or availed the Cash-in and/or Cash-out Service after the effective date of the changes as stated in the notice.
11. Governing Law and Separability.
11.1. These terms and conditions shall be governed by and interpreted pursuant to the laws of the Republic of the Philippines.
11.2. If any provision of these terms and conditions is, for any reason, found to be unenforceable, the remainder of this Agreement will continue to be in full force and effect.