HomeTerms of Use

Terms of Use

Definitions

  • “Agreement” means this agreement including all subsequent amendments.
  • “Business Days” means a day (other than a Saturday or Sunday) on which banks in the respective markets for which a transaction for remittance is being undertaken are open for business.
  • “Days” means calendar days.
  • “Fees” means those amounts stated in section 4 of this Agreement.
  • “Force Majeure” means events or causes including, but not limited to, the following: an act of God, peril of the sea, unavoidable accident of navigation, war (whether declared or not), sabotage, riot, insurrection, civil commotion, national emergency (whether in fact or law), martial law, fire, flood, cyclone, earthquake, landslide, explosion, power or water shortage, failure of a transmission or communication network, epidemic, quarantine, strike or other labour difficulty or expropriation, restriction, prohibition, law, regulation, decree or other legally enforceable order of a government agency, breakage or accident, change of International, State or Commonwealth law or regulation or any damage of Aeon’s machinery or systems, unless occurring as a result of an act, omission, default or negligence of you or Aeon.
  • “Aeon”, “we”, “us” or “our” means NexG Ventures Ltd. with registered office at 150 King Street West, Suite 361, Toronto, ON Canada M5H1J9 and includes its successors and any person to whom it has assigned it rights under this Agreement.
  • “Aeon website(s)” means any URL, such as Aeonfinance.com, owned and operated by Aeon that we use to provide the Services to you.
  • “Policy” or “Policies” means any Policy or other agreement between you and Aeon that you entered into on the Aeon website(s), or in connection with your use of the Services.
  • “Services” means all payment services and related products available through the Aeon website(s).
  • “User,” “you” or “your” means you and any other person or entity entering into this Agreement with us or using the Service.
  • “Aeon Wallet/Accout” means the virtual space where you can securely store and manage your money and financial transactions entirely online opened. This virtual space is established with Aeon and/or its partners, either by your initiation or when deemed necessary by Aeon.
This Agreement is a contract between you and Aeon and applies to your use of the Aeon services (the “Services”). Where you are undertaking a transaction which involves NexG Ventures Ltd. In such an instance, references to “Aeon” shall be replaced with NexG Canada Ltd in these terms. By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement. This Agreement is provided to you and concluded in English. You agree that any use by you of the Services shall constitute your acceptance of the Agreement and we recommend that you store or print-off a copy of the Agreement (including all policies) for your records. Please read this Agreement carefully and make sure that you understand it fully before using the Services. Please note that if you do not accept this Agreement, you will not be able to use the Services.

Our Relationship with You

Aeon is registered in Canada with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), registration number M23589828. Aeon is registered as a money service business and is able to provide foreign exchange dealings and money transfer services to customers resident in Canada. As a Payment Service Provider, we work with licensed remittance operators in the respective markets (the “LROs”). When you provide your information to Aeon, such information will be shared with the respective LROs in the markets for which you are undertaking a transaction utilising the Aeon platform and such LROs shall have an independent right to your personal information. Please read our Privacy Policy for further details on the collection, disclosure and use of your information. Please also read details of each LRO on the website before you commence any transaction via Aeon. The main business for Aeon is cross-border payments which include remittances, payment of bills, mobile top-ups and gift cards. To facilitate these payments, Aeon allows customers to open an account/ Wallet/Account.
  1. Your Privacy
Protecting your privacy is very important to Aeon. Your passwords are stored on Aeon servers in encrypted form. We do not disclose your account details, postal or email addresses to anyone except when legally required to do so and as specified in our Privacy Policy. Sensitive information between your browser and the Aeon website is transferred in encrypted form using Secure Socket Layer (SSL). When transmitting sensitive information, you should always make sure that your browser can validate the Aeon certificate. In order to facilitate the opening of your account digitally, you authorize Aeon to disclose your personal information such as ID documents to third parties for the purpose of conducting customer due diligence. Once your account has been opened, you authorize Aeon to disclose your personal information as needed in investigations of fraud or other illegal activity where we believe it is reasonable and appropriate to do so.
  1. Transaction History
You can access your details of executed payment transactions and other information relating to your Account by logging into Aeon and clicking on the “My Transactions” tab.
  1. Duplicate accounts
Aeon may refuse to create duplicate accounts for the same user due to security and client identification requirements. Aeon reserves the right to refuse the creation of duplicate accounts or accounts which are linked to bank accounts not belonging to you due to security and client identification requirements. In such cases, Aeon reserves the right to close these accounts without notification.
  1. Eligibility
To be eligible for our Services, you must be at least at the minimum age under the laws of your country of residence. You further represent and warrant to us that if you are an individual and you open an Account with us that you are not acting on behalf of an undisclosed principal or a third-party beneficiary. Before being able to use the Service we have to perform mandatory customer verification. For that we may require a physical verification and/or ask for photographic evidence of your identity such as a copy of your passport. It is possible to provide this evidence through scanning and uploading such information on the Aeon site or through providing such information to our authorised agents. Aeon reserves the right to access various government and private databases so as to verify your information (so called “electronic ID”). If certain databases provide a match to the information you provide then we may not have to ask for photographic evidence of your identity Aeon reserves the right to refuse to accept any new user or any transaction at its discretion. If incomplete details are provided or if you do not provide information requested by Aeon to complete its customer verification and meet the anti-money laundering requirements as required by relevant authorities, Aeon reserves the right to refuse to proceed with the account opening and/or the transaction.
  1. Using the Service

Using the Aeon Wallet/Account:

(a) Your Aeon Wallet/Account allows you to hold, send or receive stored value/payments. (b) The stored value held in your Aeon Wallet/Account does not expire other than when your account is closed. (c) The stored value held in your Aeon Wallet/Account will not earn any interest. (d) You may hold your stored value in CAD. Aeon may allow you to hold the stored value in other currencies which we support from time to time. (e) You may withdraw money from your Aeon Wallet/Account at any time by writing to us at help@aeonfinance.com. We do not allow withdrawal in cash. Withdrawal can be made to your designated bank account only. You must be the main or joint holder of such a bank account. The charges for withdrawing money from the Aeon Wallet/Account back to your bank account are mentioned in Para 15. (f) The maximum amount that your Aeon Wallet/Account / can hold at any time is CAD [•] (or such equivalent aggregate amount in foreign currencies) and the total value you can transfer from your Aeon Wallet/Account in any period of one year may not exceed CAD [•] (or such equivalent aggregate amount in foreign currencies). (g) Aeon may at its sole and absolute discretion reject your request for a payment transaction, or refund a payment or other transaction, for any reason whatsoever, including without limitation, where your Aeon Wallet/Account would cause the aggregate amount of your balance, directly or indirectly to exceed any value permitted under the prevailing laws and regulations or any other regulatory or risk limit prescribed for that Aeon Wallet/Account. (h) The stored value held on your Aeon Wallet/Account belongs to the person or legal entity which is registered with us. (i) Unless you have our consent in writing, you must not allow anyone to operate your Aeon Wallet/Account on your behalf.

Using the Aeon for Cross Border Remittances:

You are solely responsible for the accuracy and validity of the information provided by you. Aeon will process transactions based on the information provided by you and takes no liability whatsoever for erroneous credits to receivers. If a transaction is returned back, you can either: (i) create a fresh transaction and instruct us to reprocess the transaction or (ii) request a refund If you wish to re-process the transaction, please note that Aeon reserves the right to re-process the transaction at an exchange rate at which the transaction was originally done, or at current prevailing rates. You will also be liable to pay all additional bank charges and administration charges for reprocessing the transaction. Should you wish to get a refund instead, Aeon will make a refund net off any Aeon fees and third-party charges and Foreign Exchange adjustments incurred in processing these transactions. You should be aware that, each transaction you create has a specified validity based on the time you created this transaction on the Aeon platform. The period of time for which the transaction is valid may change from time to time at our sole discretion and will be confirmed to you at the time of completing the transaction on the Aeon platform. It is solely your responsibility to ensure that the funds reach the local bank account specified by us before the validity of the transaction expires. If the funds reach us after the validity of the transaction expires, then the transfer will fail and we will need to refund your funds. From time to time, we will identify on the Website the currencies for which the Service is available. Available currencies are subject to change at our sole discretion. You should note that while it is our obligation to ensure that funds arrive at the Receiver’s bank account or payment account within the stated timelines, we do not control the time it takes for the Receiver’s bank or payment provider to credit and make available funds to the Receiver. You should further note that the above timelines are subject to all necessary security and customer identification checks being conducted in line with our security and identification guidelines. If further investigation or the collection of additional information from you is necessary, we will let you know, but this may result in a cancellation of the transaction. If required by a regulator, we may withhold your funds in any transaction through our website.
  1. Exchange Rates
Aeon makes reasonable efforts to undertake transactions at exchange rates aligned to the mid-market rate. Aeon relies on aggregated third-party information sources and does not guarantee that the rates match any particular benchmark source at any given time. We reserve the right at our sole discretion to refuse a transaction (including but not limited to: restricting the creation of a new transaction as well as cancelling a transaction already in process). For transactions refused by us, we will notify you as promptly as we reasonably can, provide a reason where it is possible to, and arrange for a refund where applicable. More specifically, the exchange rate may change between the time of posting a transaction and when we receive your money. If the rate changes by more than a certain pre-determined percentage (indicated to you at the confirmation stage), we reserve the right to put the transaction on hold and email you; or refuse the transaction.
  1. Transaction Limits
The minimum and maximum transaction limits for transactions may vary depending on the market and we reserve the right to change these limits from time to time.
  1. Sending Money
When creating a transaction, you may choose to use money from your Aeon Wallet/Account/ Account or send a fresh transfer from your bank account. Note that for any transaction, you can either use the balance in your Aeon Wallet/Account / Account or make a fresh transfer. A combination of both methods is not permitted. All US dollar or Canadian Dollars payments must originate from your Canadian bank account. You must be either the main account holder or the joint account holder of the bank account from which you send money to us. Transfers from accounts that do not belong to you (including those of your spouse or family members) are strictly prohibited. You are responsible for all charges, including your bank charges, in transferring the funds to us.
  1. Refused Transactions
Aeon may refuse to proceed with the transaction if we cannot match your name registered with Aeon with the name on your bank account from which you send the money. In this case you may be liable for an administration charge. Please refer to section 12 for details.
  1. Cancellation of Transactions
You may cancel your transaction any time before sending the money to our bank account. You will not be able to cancel the transaction once it has been actioned by us. Aeon reserves the right to allow/ disallow cancellations of a transaction. Aeon Fee will not be charged on a cancelled transaction.
  1. Adding Money to your Aeon Wallet/Account
To add value, you need to login into your Aeon Account and follow the steps as they appear on screen. Money needs to be sent from a bank account where you are the main or joint account holder. We are not responsible for the money you are adding to your Wallet/Account / Account until we have received this money and confirmed that this is coming from your own bank account.
  1. Withdrawing Money from your Aeon Wallet/Account
If you wish to withdraw the balance in your Aeon Wallet/Account, please write to us at help@aeonfinance.com the request. Please send us the bank name, bank account number, and account name, to which you wish to make a withdrawal, in writing. You must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful. You agree that the Aeon Wallet/Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you provide additional documents to us so that we could carry out additional checks before allowing the money to be withdrawn. The charges for withdrawing money from the Aeon Wallet/Account back to your bank account are mentioned in Para 15.
  1. Your Obligations
You are responsible for ensuring the payment details you provide are accurate. Once payment instructions have been executed by Aeon, transactions cannot be reversed, and Aeon will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions. In the unlikely event that you notice an error in either the payment sent or received as a result of using the Services, then you should immediately notify us at help@aeonfinance.com. You agree not to use the Services for any unlawful activity and Aeon reserves the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, Aeon reserves the right to report suspected unlawful activity to any appropriate person or body and to provide them with any relevant information, including personal data.
  1. Fees
Aeon charges a fee on every transaction depending on the country you are sending money from/ to. Fees relating to the transaction are clearly displayed on the transaction page before you confirm proceed with a transaction. Aeon may charge an administration fee for transactions which are not successful and a refund has to be processed.
  1. Transactions where money is received after the validity of that transaction has expired: If funds are received after the daily cut off time, Aeon will contact you to confirm whether you will be booking a new transaction or if a refund is to be issued. If you choose to book a new transaction, the funds will be utilised in full towards the new transaction. However, if the funds are to be refunded to your bank account, a processing fee of CAD [•] will be levied. Once we receive this confirmation, the refund will be processed by us.
  2. Transactions rejected by our pay-out partners or beneficiary bank due to compliance reasons: If the transaction is rejected due to compliance reasons by our pay-out partners or by the beneficiary bank, we will process the refund of the full amount as soon as possible. Please note that this refund process can be initiated only after funds are returned to us by the pay-out partner / beneficiary bank.
  3. Transactions where there has been an error in entering any beneficiary details: If transaction is rejected due to wrong or incomplete beneficiary details entered by you, Aeon will contact you to confirm whether you will be booking a new transaction with amended details or if a refund is to be issued. If you choose to reprocess the transaction with amended beneficiary details , the funds will be utilised in full towards this transaction. However, if the funds are to be refunded, the Aeon fee will not be refunded. Further, we will wait for a confirmation from our pay-out partner on the status of the transaction, and then process the refund as soon as possible.
  4. Transactions where only partial amount has been sent to us: If funds are received in part towards a transaction booked, Aeon will contact you to confirm whether you will be sending the remaining amount or if a refund is to be issued. If you choose to send the remaining amount before the validity of the transaction expires, the transaction will be processed. However, if the funds are to be refunded to your bank account, a processing fee of CAD [•] will be levied. Once we receive this confirmation, the refund will be processed within 1-2 working days.
  5. Cases where money has been sent to us without a transaction being created: If funds are received in our account without a valid transaction being created on the Aeon platform, or if funds were credited to our account by mistake and a refund is requested, we will do our best to contact you and remind you to create a transaction. If you wish to get a refund, a processing fee of CAD [•] will be applicable for such refunds.
Aeon may change from time to time, the administrative fees it charges for refund cases and reserves the right to do so at its sole discretion.
  1. Time frame for processing refunds
All refunds arising from cross-border payment transactions will be made to your Aeon Wallet/Account/ Account. To withdraw this amount from your Aeon Wallet/Account to your bank account, please do write to us at help@aeonfinance.com. Aeon will endeavour to process your withdrawals in a reasonable time frame. Generally, a bank transfer takes between 1–3 working days to appear back in your account. In cases where the money is held by the compliance teams of our pay-out partners or your beneficiary’s banks, we will not be able to initiate the refund until the money is returned to us by the pay-out partner or beneficiary bank. Refunds are generally processed by Aeon at the end of the working day, however if you need a refund to be processed urgently, please write to us at help@aeonfinance.com. If the email is received within working hours, we will be happy to assist and process the refund for you on an urgent basis at an additional charge of CAD [•].
  1. General Terms
a. Third Party Services

You acknowledge and agree that Aeon is partnering with third-party partners and providers in order to deliver you the Services.

By using our Services, you agree to be bound by any user agreements established by any third party partners and providers that Aeon engages with in addition to the Terms and Conditions set out in this Agreement.

By accepting and agreeing to the partner’s terms and conditions you expressly acknowledge that Aeon is acting independently of the LROs and that Aeon shall have no liability for the actions or omissions of LROs.

b. Communications

We are required to provide certain information to you in writing. By accepting this Agreement, you agree that we can communicate with you electronically either by email or by posting notices on the Aeon website.

c. Events Outside Of Our Control

If we are unable to perform our obligations under this Agreement because of factors beyond our control, including a change of law, an event of Force Majeure, withdrawal of a currency or the imposition of sanctions over a country or receiver, we will notify you as soon as is reasonably practicable and will use reasonable endeavours to secure the return of any money paid by you in respect of which we have been unable to discharge our obligations under this Agreement. We will not have any liability to you where we are unable to perform our obligations.

  1. Exclusion and limits of liability
You agree to use the Aeon website at your own risk.
  1. Aeon uses reasonable skill and care in providing its products and services to you. However (to the maximum extent permitted by law) Aeon is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you from your use of, or your inability to use, the Website or the products or services offered through or by the Website however caused notwithstanding any error or omission including negligence.
  2. Aeon shall not be liable to you or any third party for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you resulting from the failure or delay of Aeon to execute any transfer in accordance with the instructions from you.
  3. Aeon shall not be liable for any fees or commissions charged by any intermediary bank or other entity when funds are deposited in your account or transferred to your personal or your receiver’s account.
  4. Aeon’s maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to a refund equivalent to any monies you have paid to Aeon to acquire foreign currency.
  5. You agree that Aeon will not be responsible in any way to you or any other person in the event of force majeure or for the act of any Government or legal authority.
  6. You hereby indemnify and hold blameless Aeon, its directors, officers, employees and agents from and in respect of any loss, damage, liability, cost or expense that it may suffer or incur by reason of you failing to discharge your obligations under or acting in breach of any of these T&Cs or any breach of any applicable law or regulation.
  7. You agree that Aeon will not be liable in any way to you in the event of failure of or damage or destruction to your computer system, data or records or any part thereof or for any delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You will not expose the website to any viruses, trojans or other similarly harmful or inappropriate material or device. In the event that any such viruses etc. are deemed to have been transmitted to the website from your account Aeon reserves the right to terminate your account and you shall be liable for the cost to Aeon of removing such viruses etc. and Aeon shall have the right to set-off the cost against any balance held to the credit of your Aeon account.
  1. Complaints

We are committed to providing you with the highest standards of service. If you feel we have not achieved that, please send your complaints to help@aeonfinance.com.

  1. Entire Agreement
This Agreement and any document expressly referred to in it constitutes the whole agreement between us and supersedes any previous discussions, correspondence, arrangements or understandings between us. We reserve the right to amend these Terms of Use from time to time without notice by amending this page. The amended Terms of Use will be effective from the date they are posted on our website. As these Terms of Use may be amended from time to time, you should check them whenever you visit our website. Your continued use of our services will constitute your acceptance of the amended Terms of Use. When making material amendments, in addition to posting these terms on the website, we will send via email, a link to the latest version of the terms.
  1. Law And Jurisdiction
The provision of the Service and any dispute or claim arising out of the provision of the Service is governed by Canadian law. Any dispute or claim arising out of or in connection with the Service will be subject to the exclusive jurisdiction of the courts of Ontario, Canada
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