Terms and conditions

1. Who we are

These terms are an agreement between you and Monk Global Payments, Inc. ("we", "us"), 651 N Broad St, Suite 206, Middletown, zip code 19709, New Castle, Delaware, which operates Monk Pay.

2. Using Monk Pay

You must be at least 18, have the legal capacity to enter this agreement, and provide accurate information. One person may hold one personal account.

3. Verifying your identity

Before you can send or withdraw money we must verify your identity with a specialist partner. You agree to give us true, current documents. We may ask for more information at any time and may restrict an account until we have it.

4. Your wallets and balances

Your wallets show the money you have added or received. Monk Pay is a payments service, not a bank. [[TODO: state precisely how customer funds are held and protected, in wording approved by your compliance team.]]

5. Fees and exchange rates

Our fees and exchange-rate margin are published on our pricing page and shown in the app before you confirm any payment. When a payment involves a currency change, we show the mid-market rate, our margin and the rate applied. A payment partner (such as a card network or a mobile-money operator) may add its own charge, which we show before you confirm.

6. Sending and receiving money

Transfers between Monk Pay wallets are recorded immediately and cannot be reversed by us once confirmed. Check the recipient's name before you confirm. Limits apply per transaction and may change; the app tells you when an amount is above a limit.

7. Adding and withdrawing money

Payments you add by card or mobile money are credited when the provider confirms them. Withdrawals to a bank account or mobile money depend on the receiving bank or operator, and times are not guaranteed.

8. Keeping your account safe

Keep your password, PIN and sign-in codes secret and never share them, including with us. Tell us at once if you think someone else has access. We recommend turning on two-step sign-in. You are responsible for activity on your account unless it results from our failure to keep it secure.

9. What you must not do

You must not use Monk Pay for anything unlawful, to defraud or harass anyone, to evade sanctions or launder money, to test our security without permission, or in a way that harms our systems or other customers.

10. Suspending or closing an account

We may delay, refuse or reverse a transaction, or suspend or close an account, where the law requires it, where we suspect fraud or misuse, or where you breach these terms. We will tell you why unless the law prevents us. You may close your account at any time after withdrawing your balance; see how to delete your account.

11. Our responsibility

[[TODO: have your lawyer write the limitation-of-liability clause for your jurisdiction. Do not exclude liability the law does not allow you to exclude.]]

12. Complaints

Contact us at info@monkpay.io. [[TODO: add your complaints procedure and, if you are regulated, how to escalate to the regulator or ombudsman.]]

13. Changes to these terms

We may update these terms. We will tell you before a material change takes effect.

14. Governing law

[[TODO: governing law and courts, as advised by your lawyer.]]