Financial Services Guide
1.1 This document sets out the terms and conditions that govern the use of the foreign exchange comparison service provided by The Currency Shop Pty Ltd (ACN 163 569 462) (TCS, we , our, us) by users of that service (User, you).
1.3 In the event of any inconsistency between this document and other contracts or documents, exchanged and/or executed between the User and TCS, this document shall prevail.
2. Our services
2.1 TCS provides an information service that is intended to help Users make informed decisions about foreign exchange products and services. TCS obtains quotes and compares certain foreign exchange products and services on the basis of criteria selected by the User from options provided by TCS. Information is provided by TCS to the User on the TCS website (www.exiap.com) and through the TCS telephone service.
2.2 The foreign exchange products and services compared do not represent every product and service that is available.
2.3 All information provided on the TCS website is factual information or General Advice (as defined by the Corporations Act 2001 (Cth)) and does not consider your specific objectives, financial situation or needs. TCS may provide Personal Advice (as defined by the Corporations Act 2001 (Cth)) through its telephone service only.
2.4 By continuing to use the TCS website or TCS telephone service, the User acknowledges that any advice provided on the TCS website is general in nature and does not consider the personal objectives, circumstances or needs of the User. The User must consider their own objectives, circumstances or needs, as well as the TCS Financial Services Guide, before making a decision to use TCS services.
2.5 The listing of a foreign exchange product or service on the TCS website is only an invitation to treat and does not constitute an offer to enter into a legally binding contract with TCS or the provider of the foreign exchange product or service.
2.6 The TCS website is only available for use by residents of the Commonwealth of Australia.
3. Relationships with providers
3.1 TCS does not own or control any provider of foreign exchange products or services and is not owned or controlled by any such provider.
3.2 TCS has commercial arrangements with a range of providers of foreign exchange products and services. The results of the TCS service are not affected by these commercial arrangements. In order to provide the TCS service to users for free TCS may charge a commission or service fee from providers listed on the TCS service.
3.3 The TCS website provides links to websites:
(a) of providers of foreign exchange products and services;
(b) of third party advertisers; or
(c) that may otherwise be of interest to Users.
TCS are not responsible for the content or accuracy of any website other than the TCS website. TCS may receive a commission or service fee from the operators of such websites.
4.1 TCS sources its data from foreign exchange providers and has taken reasonable steps to ensure that such data is accurate. There is a risk that the foreign exchange prices quoted on TCS may be inaccurate, not available to the User, or available but with additional fees and charges.
4.2 TCS is an information and advice service only and does not guarantee the performance of any foreign exchange provider.
4.3 In using this website, you agree that TCS will not be held responsible for any difference in the exchange rates, fees and contracts quoted on TCS, and the exchange rates, fees and contracts made available to the User by the foreign exchange provider.
4.4 If the User does not fully understand the risks associated with TCS services, then they should not use TCS services.
4.5 The User should always obtain and consider the Product Disclosure Statement relating to any foreign exchange product or service that the User is considering acquiring.
5. User representations and warranties
5.1 The User acknowledges that the TCS website is provided only for Users to assess information about foreign exchange products and services that they may wish to use for their own personal or business purposes and for no other purposes. Information contained on the TCS website may not be sold or used for any unlawful or prohibited purpose.
5.2 The User warrants that all information provided by the User to TCS is true, correct, complete and not misleading.
5.3 The User further represents and warrants to TCS that the User:
(a) has received, read, understood and accepted the risk disclosures provided to them in relation to the foreign exchange products being compared;
(b) has received, read and understood the TCS Financial Services Guide;
(c) has read and understood these Terms and Conditions;
(d) understands that the TCS website only provides General Advice;
(e) has considered their objectives, financial situation and needs, and has formed the opinion that dealing in foreign exchange products is suitable for the User’s objectives, financial situation and needs, and has sought appropriate professional advice as is necessary;
(f) acknowledges that neither TCS or any associated entity guarantees the rate of any foreign exchange contract or the performance of any foreign exchange provider;
(g) will not use the services provided by TCS for any manner inconsistent with the purposes of the TCS website;
(h) will not use the services provided by TCS to assist in a breach of any laws.
5.4 If the User is comprised of two or more legal persons then a reference to a right or obligation of the User under these Terms and Conditions or under a transaction contemplated by these Terms and Conditions confers that right or imposes that obligation, as the case may be, jointly and severally on those persons.
6. Confidentiality of User Information
6.1 TCS will use reasonable precautions to maintain the confidentiality of information TCS receives from the User and material and/or data the User provides, creates, inputs or develops in connection with the User’s use of TCS services. Nonetheless, because such information, material and/or data may be provided through the Internet or over the telephone, the User hereby acknowledges and agrees that TCS cannot assure that such information, material and/or data will continue to be confidential.
6.2 The User accepts the risk of a third party receiving confidential information concerning the User and specifically releases and indemnifies TCS from any claim arising out of a third party intercepting, accessing, monitoring or receiving any communication from a User intended to be provided to TCS or from TCS intended to be provided to the User.
7. Money Laundering
7.1 In appropriate cases all communications and information concerning the User held by TCS, may be disclosed to and reviewed by law enforcement agencies and regulatory authorities.
7.2 In addition, the User agrees to comply with all applicable money laundering and counter terrorism financing laws, including, but not limited to, the requirement to obtain or provide satisfactory evidence of the identity of any person whom the User may represent in any transaction entered into with TCS.
8. Intellectual Property
8.1 TCS is the exclusive owner or exclusive licensee of all intellectual property rights in the TCS website (including design, layout, software, platform, comparison & ranking algorithms) and the content of the TCS website is subject to copyright.
8.2 The User may view, print, email or download pages of the TCS website for their personal use.
8.3 Except to the extent provided by law, all copying, republication and modification of the TCS website is prohibited.
8.4 The TCS website also incorporates under licence certain intellectual property of foreign exchange service providers and other third parties.
9. Amending these Terms and Conditions
9.1 These Terms and Conditions may be amended by TCS at any time.
9.2 The amended Terms and Conditions will be posted on the TCS website and will govern the User’s use of the website from the time they are posted. The date of the last amendment will be displayed at the top of the Terms and Conditions.
9.3 By using the TCS website the User agrees to be bound by the then current Terms and Conditions.
10. Using the Telephone Service
10.1 TCS is authorized by the Australian Securities and Investment Commission (ASIC) to provide personal advice to retail clients in relation to foreign exchange products.
10.2 Personal advice will only be provided through the TCS telephone service.
10.3 The User may request TCS to provide recommendations on foreign exchange rates and contracts by telephone. TCS may check the authority of the caller by requesting the caller give his or her name and other information as is reasonably necessary to provide the comparison and/or recommendation.
10.4 TCS may at its discretion ask the caller for additional information to confirm the caller’s identity.
10.5 The User acknowledges and agrees that TCS may make a recording of any telephone conversation between the User and TCS at any time. The recording remains the property of TCS. The telephone recording can be used by TCS to confirm the terms and conditions of any comparison or recommendation where there is dispute with a User as to the advice provided and for training, monitoring and compliance purposes.
11. Circumstances beyond TCS Control
11.1 Internet connectivity delays and price feed errors sometimes create a situation where some prices cannot be displayed on the TCS website or where the prices displayed on the TCS website are not reflective of the price offered by the foreign exchange provider at that time. TCS accepts no responsibility for such errors or omissions.
11.2 Users should note that foreign exchange markets are extremely volatile and prices may change significantly within very short periods of time.
11.3 TCS makes no representations that the TCS website will be available for use at any particular time or that it will be free of computer viruses.
12.1 The User shall indemnify and hold TCS harmless from any and all liabilities, claims, costs, expenses and damages of any nature, including, but not limited to, reasonable legal fees and any fees and expenses incurred in connection with litigation, arising out of or relating to the User’s negligence, mistake or willful misconduct, the violation of any law by the User, or the breach by the User of any provision of these Terms and Conditions.
12.2 The User also agrees to promptly pay TCS for all damages, costs and expenses, including reasonable legal fees and expenses, incurred by TCS in the enforcement of any of the provisions of these Terms and Conditions.
12.3 The User’s obligations under this Clause 13 shall survive the termination of these Terms and Conditions.
13. Limitation of Liability
13.1 TCS shall not be liable under any circumstances for any direct, indirect or consequential loss (including any loss of profits) incurred as a result of reliance on TCS information, advice or comparisons by the User.
13.2 Nothing in these Terms and Conditions is intended to limit or exclude any liability TCS may owe the User under any statutory rights the User may have.
13.3 The limitation of liability under this Clause 14 shall survive the termination of these Terms and Conditions.
14.1 These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Victoria, Australia. The parties agree to irrevocably submit to the non-exclusive jurisdiction of the courts of Victoria, Australia.
14.2 If any part of these Terms and Conditions is found to be void, unlawful or unenforceable then that part will be deemed to be severable from the balance of these Terms and Conditions and the severed part will not affect the enforceability of any remaining provisions.
15. Dispute Resolution
15.1 If the User is unhappy with the TCS service and wishes to lodge a complaint, they should contact the TCS Compliance Officer at email@example.com . TCS will respond to the User within 10 working days of receiving their complaint.
15.2 The User is able to take any dispute to the Financial Ombudsman Service, of which TCS is a member. The User can contact FOS on 1300 780 808 (if in Australia) or +613 9613 7366 (if outside Australia) or in writing at GPO Box 3, Melbourne, Victoria 3001, Australia. The User can also contact the FOS through their website: www.fos.org.au.