Financial Services Compensation Scheme
EQPay, as an Electronic Money regulated firm, is not covered by the Financial Services Compensation Scheme.
EQPay will not offer you any advice or provide you with any recommendations regarding the suitability of any particular transaction and we will not assess the suitability of transactions that you may make. Whilst we may from time to time provide you with factual information about transactions, this information is not, and should not be interpreted as, advice, and any decision to submit transactions is made solely by you.
Changes in exchange rates may adversely affect the value of any of your currency payments, contracts and balances. If you are in any doubt as to which currency to select you should seek independent professional financial advice.
Volatility risk, market fluctuations and monitoring your positions
You should be aware the currency market may be volatile and factors can change rapidly and unexpectedly which may affect the value of your payments, contracts and currency balances and/or transactions.
Some currencies and/or payments may be governed by certain legal and regulatory requirements, and payments that are not compliant with the specific regulations may be subject to rejection and deductions, such as bank charges and currency fluctuations. In the event a payment is subject to a rejection and/or return and you are entitled to a refund, you may receive back less funds depending on the exchange rate at the time the refund is processed. We may rely on third party providers (such as banking providers) to assist in payment and currency transfers, any disruption in the services of a third-party provider is beyond EQPay’s control and may adversely impact EQPay’s Payment Services.
At EQPay, we take online security very seriously, especially when it comes to the account you have with us. There are inherent risks with using online financial websites and we have outlined some of the ways in which potential fraudsters could encourage you to share information and tips on how to prevent lapses in security. These guidelines can be found on our online security page. Failure to adhere to these security guidelines may lead to a loss and damage to you and/or your organisation. These security guidelines represent reasonable security measures in EQPay’s opinion but are not intended as an exhaustive list of the steps that you should undertake to ensure online security.
Whilst we will try to ensure the services provided by EQPay are available to you without interruption, we cannot guarantee our services will always be available to you. Where the EQPay systems are unavailable we may not be able to process transactions and you may not be able to review your currency balances.
You should be aware that various tax regimes may apply to your transactions depending on your personal or company tax status and the rules and regulations in force from time to time. You have the sole responsibility of determining the relevant tax impact to your transactions and you should consult an appropriate professional advisor if you have any questions or doubts in this regard.
Legal and regulatory changes
Changes to current legislation and regulations could give rise to changes in the price, availability or processing of your transactions. The impact of such legal and regulatory changes can be material and unexpected, and may impact certain companies, markets and jurisdictions more than others.