Updated: April 03, 2024
The Yellow Card Widget (the “Service”) is provided by the Yellow Card (hereinafter referred to as “we”, “us”, “our”, or “Yellow Card”") through our website (www.yellowcard.io) and mobile site (collectively, the “Website”). By accessing, using or attempting to use the Service, you acknowledge being legally bound by these Terms of Use as well as the Yellow Card User Agreement (link), Privacy Policy (link) and other policies published on our Website (together, this “Agreement”). This Agreement is made between you (“you”, “your”, or “User”) and Yellow Card.
1. Background
1.1 The Service is one of the services offered by Yellow Card, and therefore the Yellow Card User Agreement, Privacy Policy and other published policies apply to the use of the Service, unless otherwise specified herein. These Terms of Use set out additional terms and conditions for users of the Service. In the event of any inconsistency, conflict or ambiguity as to the rights and obligations of the parties, these Terms of Use shall supersede any of the terms of the Yellow Card User Agreement, Privacy Policy or other published policies.
2. Description of the Service
The Service enables you to purchase digital assets using fiat currency, and to sell digital assets for fiat currency, receiving value instantly, from any supported website, exchange or DApp. Your transaction must originate or terminate in one of our supported jurisdictions.
3. Eligibility
3.1 You must meet our eligibility criteria to sign up for an account and use the Service. This means that you must:
3.1.1 be at least 18 years of age;
3.1.2 satisfy all our KYC (Know-Your-Customer) and AML (Anti-Money Laundering) requirements;
3.1.3 not be sanctioned by the US, UK or EU as an individual; and
3.1.4 not be a resident or a citizen of any country under the US, UK or EU sanctions lists (the “Eligibility Criteria”).
4. Account registration
4.1 You must sign up for an account with your email address to use the Service. Your account is a profile, not a financial account or Blockchain wallet, and thus you cannot hold fiat currency or digital assets in your account.
4.2 Your account allows you to use fiat currency to purchase digital assets from us, which we will then send to a Blockchain wallet address you provide to us. You may also sell digital assets to us in exchange for fiat currency, which we will send to your mobile money or bank account.
4.3 All activities carried out from your account are deemed to be activities carried out by you personally. You must not intentionally or negligently grant any third party access to your account, and we are not liable for any loss you may incur as a result of a third party gaining access to your account. You must check your account regularly and carefully and contact us immediately if you do not recognise a transaction or believe we have made a payment incorrectly.
4.4 Your purchase and sale of digital assets are recorded in the history section of your account, which can be accessed when logging in to your account. We allocate a reference ID to each transaction, and you should quote this reference ID when communicating with us about a particular transaction.
5. Data protection
5.1 In the course of signing up for an account and trading with us, we may collect and use certain personally identifiable information (“PII”) provided by you, including, but not limited to, your name, address, telephone number, email address, date of birth, taxpayer identification number, government identification, and information regarding your bank account and, in some cases (where permitted by law), special categories of personal data, such as your biometric information.
5.2 We are committed to protecting your PII and to taking all reasonable precautions for maintaining the confidentiality thereof. Please refer to our Privacy Policy for further details. By creating an account, you consent to our use of your PII to provide our services to you, including for administrative, marketing and customer support purposes.
6. Initiating a transaction
6.1 Selling digital assets
6.1.1 You must select the type and amount of digital asset you wish to sell to us. We will provide you with the conversion rate and fees before you proceed with a transaction. We will also provide you with our Blockchain wallet address and you will send to our wallet the amount and type of digital asset you are selling. Once we confirm receipt, we will pay the fiat currency (less any fees) into your mobile money or bank account, the details of which you will provide to us.
6.1.2 It is your sole responsibility to ensure that (a) the amount of the digital asset is exactly equal to the purchase price provided by us, (b) the digital asset is sent to the Blockchain wallet address we provide to you, and (c) your mobile money or bank account details are accurate. Once we make a payment to your nominated mobile money or bank account, the payment cannot be refunded, and we are not liable for any errors made by you when providing us with the details of your mobile money or bank account.
6.2 Purchasing digital assets
6.2.1 You must select the type and amount of digital asset you want to purchase from us: we will provide you with the purchase price in fiat currency, conversion rate and fees before you proceed with a transaction. You will provide us with your Blockchain wallet address where you want to receive the digital asset purchased, and then you will select your payment method (from a list we will provide to you) and pay for the digital asset. Once we confirm receipt of your fiat currency, we will transfer the digital asset to your Blockchain wallet.
6.2.2 It is your sole responsibility to ensure that (a) the price paid is exactly equal to the purchase price of the digital asset sold to you by us, (b) the payment reference used for your fiat currency transfer is identical to the reference provided by us, (c) your Blockchain wallet address is accurate, and (d) the transfer of digital assets may be successfully effectuated to your Blockchain wallet, as you expressly acknowledge that certain Blockchain wallet providers impose limits which may result in the digital assets being released by us, but not accepted into your Blockchain wallet. If the digital assets released by us are not accepted into your Blockchain wallet, we are not liable for any loss incurred as a result thereof, and the performance of our obligations in connection with the transaction will be deemed to be complete.
6.2.3 We will display your Blockchain wallet address in accordance with the information we receive from you or the host application you used to launch the Widget.
6.3 Settlement account
6.3.1 You are solely responsible for ensuring the accuracy of the details provided to us in connection with your mobile money account, bank account, and Blockchain wallet. We are not liable for any transfers of fiat currency or digital assets not made or incorrectly made if you have made any errors when providing to us and confirming the details of your mobile money account, bank account or Blockchain wallet.
6.3.2 Your mobile money account, bank account and Blockchain wallet must be in your name and under your sole legal and beneficial ownership and complete control. You represent, warrant, undertake and attest to us that you are the sole legal and beneficial owner and have complete control of the mobile money account, bank account, and Blockchain wallet you provide to us in connection with your use of the Service, and that no third party has access to or control over your mobile money account, bank account, or Blockchain wallet. In the case of a sale of digital assets to us, you further represent, warrant, undertake and attest to us that you own and have complete control of all digital assets within your Blockchain wallet used to send digital assets to us. You agree that you are liable for and agree to indemnify us against any and all costs and expenses incurred by us (including, without limitation, fines and penalties as well as reasonable attorneys’ fees) as a result of any representation, warranty, undertaking or attestation in this paragraph being incorrect, and, in such case, we may ban your account and take further actions against you.
7. Use of the Service
7.1 Exchange rate. The value of the digital asset will be converted to fiat currency at an exchange rate set by us (the "Exchange Rate"). We use a number of sources to determine the Exchange Rate applicable to the purchase or sale of digital assets. You agree to accept our Exchange Rate as the sole pricing metric in using the Service.
7.2 Payment method. Not all payment methods may be available in your jurisdiction. The available payment method(s) are indicated on our Website at the time of initiating a transaction. You are able to confirm the payment methods available in your jurisdiction before proceeding with a transaction.
7.3 Trade completion. A trade for the purchase of a digital asset is deemed completed once we deliver the digital asset to your Blockchain wallet. A trade for the sale of a digital asset is deemed completed once we transfer the fiat currency to your mobile money or bank account. When a trade is deemed completed in either of the foregoing manners, we have no further liability or obligation to you whatsoever.
7.4 Incorrect information. You acknowledge and agree that Blockchain transactions, when completed, are irreversible. It is your sole responsibility to ensure that all information shared with us is complete and accurate, as we are not liable for any loss you may incur as a result of furnishing us with incorrect or incomplete information.
7.5 Third-party service providers. We use third-party payment processors to settle your transactions, and we do not assume (and expressly disclaim) any responsibility or liability for any delays or errors made by any such third-party service providers. We also do not assume (and expressly disclaim) any responsibility or liability for any restrictions or limits set by your Blockchain wallet provider(s) or any other third-party wallet provider(s).
7.6 Transaction limits. At our sole discretion, your trades may be subject to transaction and volume limits while using the Service, and we reserve the right to change any of these limits from time to time, again at our sole discretion. We may review and, should we so determine at our discretion, increase such limits if you meet our requirements for an upgrade, although there is no obligation for us to do so.
7.7 Tax. You are responsible for any and all taxes of any nature whatsoever that may apply to payments you make or receive or transactions you undertake. It is your sole responsibility to report and pay any such taxes to the appropriate tax authorities.
7.8 Unauthorized access. You must inform us immediately if you suspect or discover unauthorized access to your account, PII or other data, by email to [email protected]. We are not liable for any loss you may incur as a result of unauthorized access to your account. This includes, but is not limited to, where you intentionally or negligently provide access to your account to a third party.
8. Prohibited use
8.1 You undertake not to;
8.1.1 use the Service for anything unlawful, criminal, harmful or fraudulent,
8.1.2 access, store, distribute or transmit viruses, malicious code or other harmful technologies,
8.1.3 expropriate data or do anything that infringes the intellectual property rights of a third party,
8.1.4 reverse engineer, copy, modify, data scape, automate or re-sell any part of the Service,
8.1.5 use someone else’s email address to access the Service or allow anyone else to access the Service using your email address,
8.1.6 use any automated system to send more request messages to our servers than a human can reasonably produce in the same period or put an unreasonably large load on our infrastructure, and
9. Trade cancellation.
9.1 We may cancel a trade without prior notice if we do not receive the correct purchase price from you. Where we cancel your trade, you may be responsible for the cost of refunding the fiat currency to you. Therefore you should ensure that the purchase price paid is the same as the purchase price communicated to you by us.
9.2 Where we cannot complete your order, we will let you know, if possible, the reasons for the cancellation and an explanation of how to correct any factual errors. However, We will not notify you if such notification would be unlawful. We will refund your fiat payment to the payment account whereof you sent fiat to us, as long as we are permitted to do so under applicable laws.
10. Representation.
10.1 You represent to us that:
10.1.1 you meet our eligibility criteria,
10.1.2 all information you will provide to us are true, correct and complete,
10.1.3 you ensure full compliance with relevant laws and regulations while trading with us,
10.1.4 you are the lawful owner of any payment account and wallet you are transferring to and from,
10.1.5 you shall not, directly or indirectly, engage in any activity that would make us to violate any laws, rules, and regulations applicable to you and us, including but not limited to (i) any applicable laws designed to fight the funding of terrorism and money laundering (including but not limited to the anti-money laundering and anti-terrorism laws, rules), and (ii) economic sanctions programs of the United States, United Nations, European Union, United Kingdom, or of any other country.
11. Indemnification.
You agree to indemnify and hold us and our shareholders, subsidiaries, and affiliates, and each of our and their respective directors, officers, employees, agents and representatives, harmless from and against any and all losses, liabilities, claims, demands, judgments and expenses, including, but not limited to, reasonable attorneys’ fees, arising out of or in any way connected with your use of or violation of this Agreement.
12. Limitation of Liability.
12.1 Unless applicable law requires otherwise, for every default or breach of contract by us, your exclusive and maximum remedy against us is a refund of the purchase price only. No other remedy is available to you, including, but not limited to, any remedy for incidental, indirect, special or consequential damages. These limitations apply whether your claim arises due to our negligence, other faults, errors, omissions, or non-performance. We accept no responsibility for the acts or omissions of any third party.
12.2 We shall not be liable to you (a) for any delays or mistakes, or any claims, losses, or damages, resulting from any circumstances beyond our control, including, without limitation, acts of governmental authorities, national emergencies, insurrection, war, or riots; (b) for any claims, losses, or damages resulting from your failure to comply with these terms, communication system failures, or malfunctions attributable to your device, any internet service, or any payment system; (c) if we are unable to complete a trade because we were unable to receive the correct purchase price; (d) if you did not provide us with correct, complete or timely information.
12.3 You expressly agree and understand that the service is provided on an “as is” and “as available” basis. We expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
13. Account closure.
13.1 You have the right to end this Agreement and close your account at any time by contacting [email protected]. You must not close your account to avoid an investigation. You agree that you will continue to be solely responsible for all obligations related to your account even after it is banned or permanently closed.
13.2 We may end this Agreement and close your account by giving you reasonable prior notice. We may also ban or close your account without notice in certain circumstances if:
13.2.1 you breach any provision of this Agreement.
13.2.2 we are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency.
13.2.3 we have reason to believe you are in breach of any applicable law or regulation.
13.2.4 we have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal or illegal activity.
13.2.4 we suspect a security breach or unauthorized or fraudulent use.
14. Dispute Resolution and Governing Law.
Please refer to our User Agreement. The same provisions on dispute resolution and governing law apply.
15. Caution.
Digital assets are speculative investments and involve a substantial degree of personal risk. The value of a digital asset can quickly increase or decrease at any time, and it may even fall to zero. This means there is the risk of complete loss of capital with no legal recourse. There can be no assurance that any digital asset is or will be viable, liquid, or solvent. You agree and accept the risks associated with buying and selling digital assets through our Service including any risks associated with fluctuations in the relevant exchange rates over time and partner platform. You agree that you will not use our Service for speculative trading. We do not offer financial advice, if you think you need financial advice at any time we recommend that you contact your attorney or financial advisor before proceeding further.