Remitwire Terms and Conditions

INTRODUCTION

These Terms and Conditions, along with our Privacy Policy and any documents referenced herein, constitute a legally binding agreement between:

• You, the user of our digital services; and
• Bank of Ceylon (UK) Ltd (“we”, “us”, or “our”).

These Terms govern your access to and use of the RemitWire Mobile App (“Mobile App”) and the RemitWire Web App (“Web App”) – collectively referred to as “RemitWire”. By registering for, accessing, or using RemitWire, you agree to be bound by these Terms. If you do not agree, you must not use RemitWire.

We reserve the right to update these Terms and Conditions at any time. Continued use of RemitWire following any updates constitutes your acceptance of the revised Terms.

ABOUT US

Bank of Ceylon (UK) Ltd is a company incorporated in England and Wales under company number 06736473. Our registered office is located at 1 Devonshire Square, London EC2M 4WD. We are authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number: 514744).

SCOPE OF SERVICES

RemitWire is a digital banking platform that enables users to perform the following functions via the Mobile App and Web App:

• Send international remittances to Recipients via selected Service Providers in Destination Countries
• View transaction history
• Check the balance of BOCUK’s account regularly
• Access customer support features
• Receive digital communications and alerts
• Configure settings for security and preferences
• Any cancellations get a refund to your Wallet in Remitwire

All activity within RemitWire is governed by these Terms and the applicable financial regulations of the United Kingdom. 

ELIGIBILITY AND REGISTRATION

To use RemitWire, you must:

• Be a UK citizen or Legal residence of the UK with valid residency
• At least 18 years of age eligible to hold a bank account in the United Kingdom under applicable laws and KYC regulations.
• Be legally capable of entering into a binding contract
• Provide full details of an address in the United Kingdom
• Meet any other eligibility criteria specified by the Bank.
• Promptly update your personal information (including your address) if it changes
• Comply with any requests for further information and documents we require

We may, directly or through any third party, make any inquiries we consider necessary to validate the information you provided to us.

Registration Process

To register for the Services, download the RemitWire App (e.g., from the Apple App Store or Google Play) or visit www. remitwire.bankofceylon.co.uk and follow the instructions.

You must undergo an identity verification process, which may include agreeing that the App will use your device’s camera to capture images or videos of you and documentation upload, and other regulatory checks. You consent to the secure collection and storage of this information.

You are solely responsible for safeguarding your account credentials. If you suspect any unauthorised access, you must notify us immediately.

Image Quality: You are responsible for ensuring that the images/videos captured are clear, legible, and meet the quality requirements specified by the Mobile App. Poor image quality may result in delays or failure of the identity verification process.

Consent: By signing up for the services and using the App, you are accepting and agreeing to be bound by the Agreement. We provide our services to you through the App. We may provide information and/or our services in other ways too, like through web pages. Our Agreement applies whenever and however you access our services or other information. You can at any time, and at no cost, stop using the App by deleting it or ending the Agreement.

Account Activation: Upon successful completion of the identity verification process, your account will be activated within one working day. However, if any compliance issues arise the activation process may take longer. The Bank will notify you of account activation.

Rejection of RemitWire App: The Bank reserves the right to reject your application to register for the Remitwire App at its sole discretion, without providing reasons.

ACCOUNT ACCESS AND SECURITY

You agree to:

• Use RemitWire solely for personal, lawful purposes
• Not allow others to access your account or not share your Security Details with anyone, including us, and let us know immediately if anyone asks you for your Security Details
• Make payment to us when due
• If you use biometrics (e.g., fingerprint or face identification) to authenticate actions in the App, make sure only your biometrics are registered and can be used in the App
• Keep your email account secure and let us know immediately if your email address becomes compromised
• Not tamper with, reverse-engineer, or otherwise interfere with the App or Web platform
• Not to use our Services to commit fraud, money laundering, financial crime, financing terrorism or any similar activities. You expressly agree that we have an immediate right to immediately cancel any Services or account provided to you, without notice to you, and to report it to the appropriate policing or regulatory authority, where we suspect or detect that any crime is being committed by you, the payee or receiver or any third party on your behalf.
• We may suspend or terminate your access if we detect suspicious activity, security risks, or breaches of these Terms.

FEES AND EXCHANGE RATES

All fees and charges associated with RemitWire transactions are clearly disclosed before each transaction is completed. These may include service fees and depending on the mode of funds transfer from your account to this service (e.g., Open Banking, credit/debit card transfer, etc) or other applicable charges. You agree to these charges by confirming the transaction.

Unless otherwise stated, the above charges apply specifically to transfers involving conversions to Sri Lankan Rupees. Transfers involving other currencies may incur additional charges from the Beneficiary’s bank or any intermediary banks involved in processing the transaction. RemitWire is not liable for such third-party charges.

We reserve the right to increase the fees of the services, by notifying you at any time before delivery or performance of our obligations, to reflect any increase in our costs due to factors beyond our control (such as, but not limited to, foreign exchange fluctuations or a significant increase in the costs of third-party services). In the unlikely event that this occurs, you will be entitled to cancel the order at any time before we begin providing the Services.

Currency conversions performed within RemitWire are based on exchange rates applicable at the time of processing.

PAYMENT METHODS

Transactions through RemitWire must be funded using BOCUK accounts, Bank transfers, personal debit/credit cards or other authorised electronic payment methods (open banking or cheque). You confirm that any payment details provided are accurate and belong to you.

TRANSACTION PROCESSING

A transaction is deemed confirmed only when:

• Your payment has been authorised; and
• A transaction confirmation notice has been issued via the Mobile App or Web App

Processing times may vary based on recipient bank systems, Anti Money Laundering requirements, and technical factors. We strive to complete transactions promptly but cannot guarantee exact timeframes.

When you initiate a Bank transfer, a reference number will be automatically generated. This reference number must be used when transferring the funds to BOCUK

Please note that transaction times may be extended if our bank or the beneficiary bank needs to carry out enhanced anti-money laundering (AML) checks. The delivery times quoted on our website (or elsewhere) represent typical/average processing times and do not guarantee the timing of an individual transfer.

Delays

We may delay or suspend a Service including (but not limited to):

• To verify your identity
• To respond to any security alerts which we receive in relation to your use of the Services
• To validate your Payment Instruction or instruction to send Digital Content
• Due to system outages within our Service Providers
• Otherwise to comply with applicable law
• Any transaction not completed within 24 hours of initiation will be automatically deleted. A new transaction will need to be initiated in such cases

We will attempt to maintain up-to-date information on our website or our App.

CANCELLATIONS AND REFUNDS

Cancellation Request

Once the transaction has been initiated and the “Confirm” button has been clicked, the transfer of funds will begin immediately. You may cancel the transaction only if it has not yet been processed and confirmed by the system. Requests for cancellation after the transaction has been processed will not be accepted.

Processing Time

Depending on the mode of transfer, most transactions are processed instantly after the confirmation step, unless additional verification or compliance checks are required. Once the funds have been successfully transferred, cancellation is no longer possible.

Eligibility for Cancellation

You may only cancel a transfer if:

• The transaction has not yet been completed or processed.
• The recipient has not received the funds in Sri Lanka.

Procedure for Cancellation

If the transaction is eligible for cancellation, you must:

• Contact Bank of Ceylon (UK) Ltd customer support immediately using the contact details provided within the Remitwire app.
• Provide the necessary transaction details, including your account information and the transaction reference number.

Bank’s Discretion

Bank of Ceylon (UK) Ltd reserves the right to refuse cancellation requests if the transfer has already been processed or if the funds have already been received by the recipient.

LIMITATION OF LIABILITY

While we strive to maintain uninterrupted access to RemitWire, we do not guarantee that the Mobile App or Web App will be available at all times or free from defects.

We are not liable for:

• Any indirect or consequential loss or damage
• Loss resulting from unauthorised access to your account due to your failure to maintain security
• Delays or failures caused by third-party systems, internet outages, or events beyond our control

Our total liability is limited to the amount of fees paid by you for the affected transaction.

We cannot guarantee and cannot be responsible for the security or privacy of the Website/Mobile App and any information provided by you. You must bear the risk associated with the use of the internet. In particular, we will not be liable for any damage or loss caused by a distributed denial-of-service attack, any viruses, trojans, worms, logic bombs, keystroke loggers, spyware, adware or other material which is malicious or technologically harmful that may infect your computer, peripheral computer equipment, computer programs, data or other proprietary material as a result of your use of the Website or you downloading any material posted or sold on the website or from any website linked to it.

INTELLECTUAL PROPERTY

All intellectual properties in the RemitWire Mobile and Web Apps, including software, design, branding, and content, belongs to Bank of Ceylon (UK) Ltd or our licensors. You may not reproduce, modify, or commercially exploit any part of RemitWire without our express written consent.

COMMUNICATIONS

You consent to receive communications electronically from us. These may include:

• Transactional confirmations
• Security alerts
• Legal notices
• Service updates

Such communications may be delivered via in-app notifications, email, SMS, or system messages within the Web App.

DATA PROTECTION AND PRIVACY

We collect and process your personal data in accordance with our Privacy Policy and applicable data protection laws, including the UK General Data Protection Regulation (UK GDPR). Please see our Privacy Policy.

Your data may be stored and processed in secure systems and shared with trusted service providers for the purposes of verification, fraud prevention, compliance, and service delivery.

TERMINATION OF SERVICE

We reserve the right to suspend or terminate your access to RemitWire:

• If you breach these Terms
• If required by law or regulation
• If your account is inactive for a prolonged period
• If we reasonably believe your activity poses a risk to the security or integrity of the platform

You may close your account at any time by contacting customer support.

FORCE MAJEURE

We are not responsible for any failure or delay in performance arising from events outside our control, including but not limited to:

• Natural disasters
• Terrorism or war
• Regulatory actions
• Internet outages
• Pandemics

COMPLAINTS

We take pride in providing our customers with excellent service and the best products. Whilst we are committed to dealing professionally and personally with customers at all times, sometimes things go wrong, including when customers feel we have not lived up to their expectations. If this happens we want to know about your dissatisfaction so that we can put it right. We have established procedures to help us ensure that any complaints we receive are dealt with quickly and fairly.

If you are dissatisfied with RemitWire, please contact us at:

Email: remitwire@bankofceylon.co.uk or udeni@bankofceylon.co.uk
Address: Bank of Ceylon (UK) Ltd, 1 Devonshire Square, London EC2M 4WD

If you feel that the complaint has still not been resolved to your satisfaction, then you may contact the Financial Ombudsman Service (FOS) within 6 months from the date of your final response. The FOS exists to mediate in disputes between customers and financial services companies and the service is free to consumers.

You can contact the FOS at:
Financial Ombudsman Service
Exchange Tower
London E14 9SR
Phone:0800 023 4567
Email:complaint.info@financial-ombudsman.org.uk

GOVERNING LAW

The RemitWire App is controlled and operated in the United Kingdom.
The Conditions and any Contract brought into being because of usage of this Website and Mobile App will be governed by the laws of England and Wales and you irrevocably agree to submit to the exclusive jurisdiction of the courts of England and Wales.