SwiftXchange

Terms of Service for SwiftXchange

Last Updated: May 10, 2025

Welcome to SwiftXchange (the "App"), a mobile application provided by Source Technologies (hereinafter "SwiftXchange", "we", "us", or "our"). We are registered in the United States of America, with our state of incorporation being Delaware. These Terms of Service ("Terms") govern your access to and use of the SwiftXchange mobile application and all related services, including currency exchange, escrow, and notification services (collectively, the "Service").

PLEASE READ THESE TERMS CAREFULLY. BY DOWNLOADING, ACCESSING, REGISTERING WITH, OR USING OUR SERVICE, YOU AGREE TO BE BOUND BY THESE TERMS, INCLUDING THE ARBITRATION AGREEMENT AND CLASS ACTION WAIVER DESCRIBED IN SECTION 16, AND OUR PRIVACY POLICY (WHICH IS INCORPORATED HEREIN BY REFERENCE). IF YOU DO NOT AGREE TO ALL OF THESE TERMS, DO NOT ACCESS OR USE OUR SERVICE.

1. Acceptance of Terms

By using the Service, you affirm that you are at least 18 years of age and have the legal capacity to enter into these Terms. You agree to comply with these Terms and all applicable U.S. federal and state laws and regulations, as well as any local laws in your jurisdiction that may be applicable to your use of the Service (e.g., if you are using the Service in Ghana).

2. Description of Service

SwiftXchange provides a platform for users to exchange currencies (e.g., United States Dollars (USD) to Ghana Cedis (GHS)). The process generally involves:

  1. You selecting the currency pair and the amount you wish to exchange.
  2. You selecting a designated wallet (e.g., bank account, mobile money account) where you wish to receive the exchanged funds.
  3. SwiftXchange providing you with bank account details to which you must send your funds in the source currency.
  4. Upon your initiation of the transfer, the equivalent amount in the target currency, less our applicable fees, is allocated and held in an escrow account managed by us or a designated third-party escrow agent.
  5. Once we receive confirmation that your funds in the source currency have been successfully received and cleared into our designated account, the funds held in escrow (in the target currency) will be released and disbursed to your selected recipient wallet.
  6. We will provide you with push notifications and other communications throughout this process to keep you informed.

3. Eligibility

To use the Service, you must:

  1. Be an individual of at least 18 years of age (or the age of majority in your jurisdiction if different).
  2. Have the legal capacity to enter into a binding contract.
  3. Register for an account with SwiftXchange.
  4. Comply with our identity verification requirements (see Section 7).
  5. Not be located in, or a resident of, any jurisdiction where access to or use of the Service is prohibited by law or would subject SwiftXchange to any registration or licensing requirement within such jurisdiction.
  6. Not be a person barred from using the Service under U.S. laws or other applicable jurisdictions.

We reserve the right to refuse access to the Service or to limit the jurisdictions we serve at our sole discretion.

4. User Account

  1. a. Registration: You must register for an account to use the Service. You agree to provide true, accurate, current, and complete information about yourself as prompted by the registration process and to maintain and promptly update such information to keep it true, accurate, current, and complete.
  2. b. Account Security: You are responsible for maintaining the confidentiality and security of your account credentials, including your password and any other access codes. You are solely responsible for all activities that occur under your account. You agree to notify SwiftXchange immediately at info@sourcestechnologies.com of any unauthorized use of your account or any other breach of security.
  3. c. Responsibility for Account Activity: SwiftXchange will not be liable for any loss or damage arising from your failure to comply with these security obligations. You may be held liable for losses incurred by SwiftXchange or any other user of or visitor to the App due to someone else using your account as a result of your failing to keep your account information secure and confidential.

5. Use of the Service

  1. a. Lawful Purposes: You agree to use the Service only for lawful purposes and in accordance with these Terms.
  2. b. Accuracy of Information: You are solely responsible for the accuracy and completeness of all information you provide in connection with the Service, including the amount of currency to be exchanged and the details of your recipient wallet. SwiftXchange is not responsible for any errors or losses resulting from inaccurate information provided by you.
  3. c. Sending Funds: You are responsible for ensuring that you send your funds in the source currency to the precise bank account details provided to you by SwiftXchange through the App. Failure to do so may result in delays, loss of funds, or inability to complete your transaction, for which SwiftXchange shall not be liable.
  4. d. Prohibited Activities: You agree not to use the Service to:
    • i. Engage in any activity that violates any applicable local, state, national, or international law or regulation, including but not limited to those related to financial crimes, money laundering, terrorist financing, fraud, or sanctions.
    • ii. Transmit or attempt to transmit funds derived from illegal activities.
    • iii. Use the Service for any fraudulent or unlawful purpose.
    • iv. Interfere with or disrupt the integrity or performance of the Service or the data contained therein.
    • v. Attempt to gain unauthorized access to the Service, user accounts, or SwiftXchange's systems or networks.
    • vi. Provide false, inaccurate, or misleading information.
    • vii. Engage in any activity that could harm SwiftXchange's reputation or goodwill.
    • viii. Use the Service to fund any activities in jurisdictions subject to U.S. sanctions or other applicable sanctions.
  5. e. Push Notifications: You acknowledge and agree that as part of the Service, you will receive push notifications and other electronic communications from us regarding your transactions, account activity, and other service-related information. You consent to receive these communications. You can manage your push notification preferences through your device settings.

6. Fees, Payments, and Exchange Rates

  1. a. Commission Fee: We charge a commission fee of 1.2% of the transaction value for each currency exchange transaction processed through the Service. This fee is capped at a maximum of One Hundred United States Dollars (USD $100.00) or its equivalent in the transaction currency. The applicable fee will be clearly displayed to you before you confirm a transaction. By proceeding with a transaction, you agree to pay this fee.
  2. b. Payment of Fees: The commission fee will typically be deducted from the amount being exchanged before the target currency is disbursed.
  3. c. Recipient Wallet Information: You are solely responsible for providing accurate and complete details for the bank account or mobile money wallet to which the exchanged funds are to be disbursed. SwiftXchange shall not be liable for any funds disbursed to an incorrect account or wallet due to incorrect information provided by you. Once funds are released from escrow and sent to the wallet details you provided, the transaction is considered complete on our end.
  4. d. Exchange Rates: The exchange rate applicable to your transaction will be displayed to you in the App before you confirm the transaction. Exchange rates fluctuate, and the rate provided at the time of initiation is the rate that will be applied to your transaction upon its successful completion, provided funds are received within the specified timeframe (if any). SwiftXchange determines its exchange rates based on various market factors and may include a margin.
  5. e. Third-Party Fees: You may be subject to fees from your bank or mobile money provider for sending funds to us or receiving funds from us. SwiftXchange is not responsible for any such third-party fees.

7. Identity Verification (KYC/AML Compliance)

To comply with U.S. laws and regulations, including the Bank Secrecy Act, and to prevent fraud and illicit activities, SwiftXchange is required to obtain, verify, and record information that identifies each person who opens an account or uses our Service. This process is often referred to as "Know Your Customer" (KYC) or Customer Due Diligence (CDD).

  1. a. You agree to provide all information and documentation requested by SwiftXchange for the purposes of identity verification and compliance with AML/CFT regulations. This may include, but is not limited to, your full name, address, date of birth, government-issued identification documents, and potentially information about the source of your funds or the purpose of your transaction.
  2. b. You authorize SwiftXchange, directly or through third-party service providers, to make any inquiries we consider necessary to validate your identity and verify the information you provide.
  3. c. Failure to provide required information, or provision of information that is found to be false or misleading, may result in the suspension or termination of your account and access to the Service, and may be reported to relevant authorities.

8. Escrow Process

  1. a. Holding of Funds: When you initiate a currency exchange and we provide you with details to send your source currency, we will allocate the equivalent target currency (less fees) to an escrow account. This means the funds are set aside pending confirmation of your payment.
  2. b. Confirmation of User's Transfer: The funds in escrow will only be released to your designated recipient wallet after SwiftXchange has received irrevocable confirmation that your funds in the source currency have been successfully received into our specified bank account and have cleared. The time taken for confirmation can vary depending on the payment method and banking systems involved.
  3. c. Release of Funds: Upon successful confirmation, SwiftXchange will instruct the release of the target currency from the escrow account to your designated recipient wallet.
  4. d. Failed or Delayed Transfers: If your transfer of source currency is not received, is reversed, or fails to clear for any reason, the corresponding funds in escrow will not be released, and the transaction may be cancelled. SwiftXchange is not responsible for delays caused by banking systems or your failure to correctly initiate your transfer.
  5. e. Disputes: In the event of a dispute regarding the receipt or clearance of your funds, SwiftXchange reserves the right to hold the funds in escrow pending resolution of the dispute in accordance with applicable law and these Terms.

9. Intellectual Property Rights

  1. a. Our IP: The Service, including the SwiftXchange App, its content, features, functionality, software, text, graphics, logos, trademarks, and service marks (collectively, "SwiftXchange IP") are owned by or licensed to Source Technologies and are protected by United States and international copyright, trademark, patent, trade secret, and other intellectual property or proprietary rights laws.
  2. b. Limited License: SwiftXchange grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to download, install, access, and use the App on a compatible mobile device that you own or control, solely for your personal, non-commercial use of the Service in accordance with these Terms.
  3. c. Restrictions: You may not: (i) copy, modify, distribute, sell, or lease any part of the SwiftXchange IP; (ii) reverse engineer or attempt to extract the source code of our software; (iii) use the SwiftXchange IP for any purpose other than as expressly permitted by these Terms.

10. Third-Party Services and Links

The Service may interact with or provide links to third-party websites, applications, or services, such as banks, mobile money providers, or identity verification services. SwiftXchange does not own or control these third parties. You acknowledge and agree that SwiftXchange is not responsible or liable for: (a) the availability or accuracy of such third-party services; or (b) the content, products, or services on or available from such third parties. Your use of any third-party services is subject to the terms and conditions and privacy policies of those third parties, and you should review them carefully.

11. Disclaimers of Warranties

THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE.

SWIFTXCHANGE DOES NOT WARRANT THAT: (A) THE SERVICE WILL BE SECURE, ERROR-FREE, UNINTERRUPTED, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS; (B) ANY DEFECTS OR ERRORS WILL BE CORRECTED; (C) THE RESULTS OF USING THE SERVICE WILL MEET YOUR REQUIREMENTS OR EXPECTATIONS; OR (D) THE SERVICE WILL BE ACCURATE, RELIABLE, COMPLETE, OR TIMELY.

WE ARE NOT RESPONSIBLE FOR ANY DELAYS, DELIVERY FAILURES, OR OTHER DAMAGE RESULTING FROM LIMITATIONS, DELAYS, AND OTHER PROBLEMS INHERENT IN THE USE OF THE INTERNET, ELECTRONIC COMMUNICATIONS, OR THIRD-PARTY BANKING AND PAYMENT SYSTEMS.

NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM SWIFTXCHANGE OR THROUGH THE SERVICE WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS.

12. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL SWIFTXCHANGE, SOURCE TECHNOLOGIES, ITS AFFILIATES, OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, LICENSORS, OR SERVICE PROVIDERS (COLLECTIVELY, THE "SWIFTXCHANGE PARTIES") BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, REVENUE, DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR RELATING TO YOUR ACCESS TO OR USE OF, OR YOUR INABILITY TO ACCESS OR USE, THE SERVICE OR ANY CONTENT OR SERVICES THEREIN, EVEN IF A SWIFTXCHANGE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE TOTAL AGGREGATE LIABILITY OF THE SWIFTXCHANGE PARTIES TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THE SERVICE OR THESE TERMS, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, SHALL NOT EXCEED THE GREATER OF (A) THE TOTAL AMOUNT OF COMMISSION FEES PAID BY YOU TO SWIFTXCHANGE FOR THE SPECIFIC TRANSACTION(S) GIVING RISE TO THE CLAIM IN THE THREE (3) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO SUCH LIABILITY, OR (B) ONE HUNDRED UNITED STATES DOLLARS (USD $100.00).

SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. ACCORDINGLY, SOME OF THE ABOVE DISCLAIMERS AND LIMITATIONS MAY NOT APPLY TO YOU.

13. Indemnification

You agree to defend, indemnify, and hold harmless the SwiftXchange Parties from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or in any way connected with: (a) your access to or use of the Service; (b) your violation of these Terms; (c) your violation of any applicable law or regulation; (d) your violation of any third-party right, including without limitation any intellectual property right, publicity, confidentiality, property, or privacy right; or (e) any dispute or issue between you and any third party (including other users or your bank). SwiftXchange reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will cooperate with SwiftXchange in asserting any available defenses.

14. Term and Termination

  1. a. Term: These Terms become effective when you first access or use the Service and will remain in effect until terminated.
  2. b. Termination by You: You may terminate these Terms at any time by closing your account and discontinuing your use of the Service.
  3. c. Termination or Suspension by SwiftXchange: We reserve the right, in our sole discretion, to suspend or terminate your account and access to the Service, with or without notice and for any reason, including but not limited to:
    • i. If you breach these Terms.
    • ii. If we suspect you are engaging in fraudulent, illegal, or prohibited activities.
    • iii. If required by law or requested by a regulatory authority.
    • iv. For security reasons or to protect the integrity of our Service.
    • v. If your account is inactive for an extended period.
  4. d. Effect of Termination: Upon termination, your right to use the Service will immediately cease. We will not be liable to you or any third party for any termination of your access to the Service. Any provisions of these Terms that by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity, limitations of liability, and dispute resolution provisions. Upon termination, we may be required by law to retain certain information and transaction data.

15. Modifications to Terms or Service

SwiftXchange reserves the right to modify or update these Terms at any time in its sole discretion. If we make material changes to these Terms, we will provide notice through the App, by email, or by posting the revised Terms on our website with an updated "Last Updated" date. Your continued use of the Service after any such changes constitutes your acceptance of the new Terms. If you do not agree to the modified Terms, you must stop using the Service.

We also reserve the right to modify, suspend, or discontinue the Service (or any part or content thereof) at any time with or without notice to you, and we will not be liable to you or to any third party for any modification, suspension, or discontinuance of the Service.

16. Governing Law and Dispute Resolution

  1. a. Governing Law: These Terms and your use of the Service shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflict of law principles, and the applicable federal laws of the United States of America.
  2. b. Dispute Resolution; Arbitration Agreement:
    PLEASE READ THIS SECTION CAREFULLY – IT MAY SIGNIFICANTLY AFFECT YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT.
    • i. Informal Resolution: We want to address your concerns without needing a formal legal case. Before filing a claim against SwiftXchange, you agree to try to resolve the dispute informally by contacting us at info@sourcestechnologies.com. We'll try to resolve the dispute informally by contacting you via email. If a dispute is not resolved within sixty (60) days of submission, you or SwiftXchange may bring a formal proceeding.
    • ii. Arbitration: You and SwiftXchange agree to resolve any claims relating to these Terms or the Service through final and binding arbitration, except as set forth under Exceptions to Agreement to Arbitrate below. The American Arbitration Association (AAA) will administer the arbitration under its Consumer Arbitration Rules (or Commercial Arbitration Rules, if applicable) then in effect. The arbitration will be held in [Insert City, State for Arbitration, e.g., Wilmington, DE, or a major city where your company has primary operations], or any other location we agree to.
    • iii. Arbitration Fees and Rules: The AAA rules will govern payment of all arbitration fees. SwiftXchange will pay all arbitration fees for claims less than $75,000 unless the arbitrator finds your claim frivolous. If you receive an arbitration award that is more favorable than any offer we make to resolve the claim, we will pay you $1,000 in addition to the award. SwiftXchange will not seek its attorneys' fees and costs in arbitration unless the arbitrator determines that your claim is frivolous.
    • iv. Exceptions to Agreement to Arbitrate: Either you or SwiftXchange may assert claims, if they qualify, in small claims court in [Insert County, State for Small Claims Court, e.g., a county in Delaware or your primary operational location] or any United States county where you live or work. Either party may bring a lawsuit solely for injunctive relief to stop unauthorized use or abuse of the Services, or intellectual property infringement (for example, trademark, trade secret, copyright, or patent rights) without first engaging in arbitration or the informal dispute-resolution process described above.
    • v. NO CLASS ACTIONS: You may only resolve disputes with us on an individual basis, and may not bring a claim as a plaintiff or a class member in a class, consolidated, or representative action. Class arbitrations, class actions, private attorney general actions, and consolidation with other arbitrations aren't allowed.
    • vi. Opt-Out of Agreement to Arbitrate: You can decline this agreement to arbitrate by sending a letter to SwiftXchange / Source Technologies, Attn: Legal Department - Arbitration Opt-Out, [Your Physical Address], postmarked within thirty (30) days of first accepting these Terms, stating that you (include your first and last name) decline this arbitration agreement.
  3. c. Considerations for Users in Ghana: While these Terms are governed by U.S. law (specifically Delaware law and applicable federal law), if you are a user based in Ghana and a dispute arises, SwiftXchange may, at its sole discretion, be open to exploring mutually agreeable alternative dispute resolution mechanisms, such as mediation, in Ghana before resorting to formal arbitration or court proceedings as outlined above. However, this does not waive the governing law and primary dispute resolution mechanisms specified herein.
    [Legal counsel should advise on the enforceability and implications of such a clause and alternative approaches for international users.]

17. General Provisions

  1. a. Entire Agreement: These Terms, together with our Privacy Policy and any other legal notices published by us on the Service, constitute the entire agreement between you and SwiftXchange concerning the Service and supersede all prior or contemporaneous communications and proposals (whether oral, written, or electronic) between you and SwiftXchange with respect to the Service.
  2. b. Severability: If any provision of these Terms is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that the Terms will otherwise remain in full force and effect and enforceable.
  3. c. No Waiver: Our failure to enforce any part of these Terms shall not constitute a waiver of our right to later enforce that or any other part of these Terms. Waiver of compliance in any particular instance does not mean that we will waive compliance in the future.
  4. d. Assignment: These Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by SwiftXchange without restriction. Any attempted transfer or assignment in violation hereof shall be null and void.
  5. e. Headings: The section headings in these Terms are for convenience only and have no legal or contractual effect.
  6. f. Notices: SwiftXchange may provide you with notices, including those regarding changes to these Terms, by email, regular mail, postings on the Service, or push notifications.
  7. g. Force Majeure: SwiftXchange shall not be liable for any failure to perform its obligations hereunder where such failure results from any cause beyond SwiftXchange's reasonable control, including, without limitation, mechanical, electronic, or communications failure or degradation, acts of God, war, riots, acts of terrorism, pandemics, or government actions.

18. Contact Information

If you have any questions about these Terms or the Service, please contact us at:

SwiftXchange / Source Technologies

Email: info@sourcestechnologies.com