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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.

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.
  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.
  2. b. Account Security: You are responsible for maintaining the confidentiality and security of your account credentials. You are solely responsible for all activities that occur under your account.
  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.

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.
  3. c. Sending Funds: You are responsible for ensuring that you send your funds to the precise bank account details provided by SwiftXchange.
  4. d. Prohibited Activities: You agree not to use the Service for any fraudulent, illegal, or prohibited purposes.
  5. e. Push Notifications: You acknowledge and consent to receive push notifications regarding your transactions and account activity.

6. Fees, Payments, and Exchange Rates

  1. a. Commission Fee: We charge a commission fee of 1.2% of the transaction value, capped at a maximum of USD $100.00.
  2. b. Payment of Fees: The commission fee will typically be deducted from the amount being exchanged.
  3. c. Recipient Wallet Information: You are solely responsible for providing accurate wallet details.
  4. d. Exchange Rates: The exchange rate applicable to your transaction will be displayed before you confirm.
  5. e. Third-Party Fees: You may be subject to fees from your bank or mobile money provider.

7. Identity Verification (KYC/AML Compliance)

To comply with U.S. laws and regulations, SwiftXchange is required to verify the identity of each person who opens an account or uses our Service. You agree to provide all information and documentation requested for this purpose.

8. Escrow Process

  1. a. Holding of Funds: When you initiate an exchange, the equivalent target currency is allocated and held in escrow.
  2. b. Confirmation: Funds in escrow are only released after we confirm receipt of your source currency.
  3. c. Release: Upon successful confirmation, funds are disbursed to your designated wallet.
  4. d. Failed Transfers: If your transfer fails, escrow funds will not be released.
  5. e. Disputes: SwiftXchange reserves the right to hold escrow funds pending dispute resolution.

9. Intellectual Property Rights

The Service and all its content are owned by or licensed to Source Technologies and are protected by applicable intellectual property laws. You are granted a limited, non-exclusive license to use the App for personal, non-commercial purposes.

10. Third-Party Services and Links

The Service may interact with third-party services. SwiftXchange is not responsible for the availability, accuracy, or content of such third-party services.

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.

12. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, SWIFTXCHANGE SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES.

13. Indemnification

You agree to defend, indemnify, and hold harmless SwiftXchange from and against any claims, liabilities, damages, losses, and expenses arising from your use of the Service or violation of these Terms.

14. Term and Termination

These Terms remain effective until terminated. You may terminate by closing your account. SwiftXchange reserves the right to suspend or terminate your account at our sole discretion.

15. Modifications

SwiftXchange reserves the right to modify these Terms at any time. Material changes will be communicated through the App or by email.

16. Governing Law and Dispute Resolution

These Terms shall be governed by the laws of the State of Delaware. Disputes shall be resolved through binding arbitration administered by the American Arbitration Association (AAA).

17. General Provisions

These Terms constitute the entire agreement between you and SwiftXchange. If any provision is found unenforceable, the remaining provisions shall remain in effect.

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