Your World Account Sample Clauses
Your World Account. 4.1. Your World Account is a multi-currency digital wallet, which enables you to send and receive electronic or cashless payments. For more information, please view the FAQ section at ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇.
4.2. You can withdraw and add funds to your World Account at any time; however, your World Account may be subject to payment upload and/or withdrawal limits or other restrictions imposed by World First at its sole discretion from time to time. We will always provide you with reasonable notice prior to imposing any limits or other restrictions on your World Account.
4.3. Any withdrawal must be to an account in the same name as your World Account, or where permitted by us, that of your legal representative, director, or ultimate beneficial owner, subject to applicable laws and WorldFirst’ s policies and procedures.
4.4. You may add or remove a beneficiary at any time prior to instructing a payment to the beneficiary. More details on making payments are in “Sending Payments using your World Account ” below.
4.5. World First may suspend access to, disable or place limits on your World Account without prior notice to you should we have reason to believe that your World Account is being used in, has been used in or has been associated with, any fraud or attempted fraud or if World First believes your World Account has been compromised or used in any way which is contrary to this Agreement (including but not limited to if we reasonably suspect that you are in breach of this Agreement) or for the prevention of financial crime. In the event that we suspend your account we will contact you using the contact details, including but not limited to telephone and/or email, that we have for you and which World First reasonably believes to be secure, unless we determine that we are prohibited from doing so pursuant to applicable law.
4.6. When you upload or receive funds to your World Account, we will issue you with electronic money for that same value. The electronic funds in your World Account will be held in trust and safeguarded until you use them to make a payment or withdraw your funds. We segregate Client Money from World First’s money and hold Client Money in a pooled trust account in accordance with Australian law. When you instruct World First to convert one currency into another, the currency being sold becomes due and payable to World First on the date confirmed in your Trade Confirmation Notice. and on this date your funds will cease to be deemed Client Mon...
Your World Account. 8.1 The World Account can be used only to receive payments from third parties or to make payments to a third party beneficiary or a bank account held by the Client in their name. The Client agrees not do deposit the Client’s own funds into their World Account.
8.2 You agree that any funds credited to your World Account by third parties will be paid out within 90 Days, either by making a payment to a third party beneficiary or a bank account in the Client’s name.
8.3 In the event that any funds credited to the Client’s World Account have not been paid out within 90 Days of the date those funds were received, WorldFirst will transfer such funds to an account in your name or return such funds to the source of payment. WorldFirst reserves the right to charge a fee for processing such payments and is not responsible for any losses incurred during the return process.
8.4 Where the Client wishes to send or withdraw money in a currency other than those held in their World Account, the Client may seek to enter into a Spot Contract or Forward Contract with WorldFirst in accordance with this Agreement.
8.5 The Client must not, under any circumstances, deposit physical cash (whether coins or notes), cheques or banker’s drafts into any of WorldFirst’s bank accounts and in any such case we will not release these funds or make any onward payment until we are reasonably satisfied that we have been provided with documentation which identifies their source.