Terms of Use
Last Updated: October [27], 2022
CONSUMER FRAUD ALERT: PROTECT YOURSELF, BE CAREFUL WHEN A STRANGER ASKS YOU TO SEND MONEY, ESPECIALLY FOR INTERNET AUCTIONS, NEWSPAPER OR TELEPHONE OFFERS. Banana Pay does not guarantee delivery or suitability of goods or services paid for with the Services. Banana Pay is not an escrow service provider. You agree not to use the Services for escrow purposes.
Welcome to Banana Pay. Banana Pay, LLC (“Banana Pay,” “we,” “us,” or similar terms) (NMLS ID: 1136319) offers the Banana Pay application (“App”) that is used by individuals to send money internationally at competitive exchange rates. The Banana Pay App, and related information and services, are available via the Apple App Store, Google Play Store, and the Banana Pay website located at bananapays.com (“Website”). The Banana Pay App and Website, and all related information, services or documentation offered via the App and/or Website, are collectively referred to as the “Services.”
These Terms of Use (“Terms”) are by and between you and Banana Pay and govern your access and use of the Services. “You” and similar terms means you, as an individual. Organizations, businesses, and legal entities are not authorized to use the Services.
Please read these Terms carefully. By either: (i) accessing or using the Services, including downloading the App, or (ii) clicking on the “I Agree,” “Submit,” “Create Account,” or similar button or check box when prompted, you accept and agree to be bound and abide by these Terms. If you do not want to agree to these Terms, you must not access or use the Services.
You understand that we reserve the right to change or amend these Terms from time to time. Except as otherwise required by law, all changes shall be immediately effective upon their posting to the Website or App. You acknowledge and agree that your continued access and use of the Services following such changes shall be deemed acceptance by you of any new or amended terms to these Terms.
The Services are offered and available to individual users who are 18 years of age or older. None of the Services are directed toward children under 18 years of age. By accessing or using the Services, you represent and warrant that you are 18 years of age or older and otherwise meet all of the eligibility requirements contained herein. If you do not meet all of these requirements, you must not access or use the Services.
Banana Pay will not knowingly collect any personal information from or about children under the age of 18, and children under the age of 18 are not allowed to register with Banana Pay. If you believe Banana Pay has collected information from or about a child under the age of 18, please contact us at the “Contact Us” details below.
Those who choose to access the Services from outside of the United States do so on their own initiative and at their own risk and are responsible for compliance with all applicable laws, rules, and regulations in their respective location in doing so.
Your access and use of the Services, including your creation of an account with Banana Pay, is subject to the Banana Pay Privacy Policy[F&B1] . Please carefully review the Privacy Policy. You agree that the collection, use, and disclosure of your information is governed by the Banana Pay Privacy Policy, and you consent to all actions we take with respect to your information consistent with the Banana Pay Privacy Policy.
Any money transmission license disclosures can be accessed at LICENSE AND DISCLOSURES. Please review the terms of these disclosures, which are incorporated by reference into these Terms.
Subject to your compliance with these Terms, we hereby grant you a limited, non-exclusive, non-transferable, personal right to access and use the Services, solely and strictly in accordance with these Terms for lawful purposes. You understand and agree that the Services are provided under license to you, not being sold to you, and you do not gain any ownership interest of any kind in the Services under these Terms. You are not authorized by the license granted hereunder or these Terms to exploit the Services to compete with Banana Pay’s business.
From time to time, we may restrict access to some parts of the Services, or the entire Services, to users. Banana Pay makes no guarantees regarding uptime, availability, or access to the Services. You use the Services at your own risk and the Services are at all times provided “as is.”
You are responsible for:
We may block, limit or terminate your access to the Services for any reason, including if: (i) you violate these Terms; (ii) you violate any applicable law, rule, or regulation relating to your use of the Services; (iii) you engage in any conduct which we, in our sole discretion, believe is offensive, harmful, defamatory or otherwise harmful to us or others; or (iv) you breach any other agreement with us or any other person.
In order to access the Services, you may be required to create an account with Banana Pay that may include choosing an account name and setting a password. When you do so, the information you provide Banana Pay must be accurate, complete and up-to-date. When registering with Banana Pay, you shall not impersonate anyone else, choose names that are offensive, or violate anyone’s rights. If you do not follow these rules, we may terminate your account. By registering with Banana Pay, you are representing that you are at least 18 years of age.
You acknowledge and agree that you are responsible for all the activity on your account, and for keeping your account credentials secure and confidential. If you have reason to believe that someone has accessed or used your account without your permission, you must immediately change your password and report the incident to Banana Pay using the “Contact Us” details below. You will be held liable for losses incurred by Banana Pay, or any other user of the Services, due to someone else using your Banana Pay password or account.
You shall not use anyone else’s Banana Pay password or account at any time. Banana Pay cannot and will not be liable for any loss or damage arising from your failure to comply with these obligations.
The Services include collecting funds from you to transmit to another individual (each such request for transmission, a “Funds Transfer”), by charging the payment method associated with your account, such as a credit card, debit card, bank account or other similar account (“Payment Method”). If you are located in the United States, your Payment Method(s) may also function as the financial instrument used to receive funds from other users.
When you add a Payment Method to your account, you will be asked to provide billing information such as name, billing address, and financial instrument information either to Banana Pay or its third-party payment processor(s). You represent and warrant that you have all authorizations and authority necessary to use your designated Payment Method(s). You authorize Banana Pay and its payment service providers to collect and store your Payment Method information.
When you add or use a new Payment Method, Banana Pay may verify the Payment Method by (i) authorizing your Payment Method for one or two nominal amounts via a payment service provider, and asking you to confirm those amounts, or (ii) requiring you to upload a billing statement. We may, and retain the right to, initiate refunds of these amounts from your Payment Method. You can remove the Payment Method from your account as long as it is not associated with an active payment.
You authorize Banana Pay, directly or through third parties, to make any inquiries we consider necessary to verify your identity and information you provide. This may include (i) screening you against third-party databases or other sources; (ii) requesting reports from service providers; (iii) asking you to provide a form of government identification (e.g., driver’s license or passport), your date of birth, your address, and other information; or (iv) requiring you to take steps to confirm ownership of your email address or Payment Method(s). Banana Pay reserves the right to terminate, suspend, or limit access to the Services in the event we are unable to obtain or verify any of this information.
Banana Pay is not responsible for any loss suffered by you as a result of incorrect Payment Method information and hereby disclaims any and all liability for any Payment Method information provided or inputted by you.
You hereby authorize Banana Pay to charge your Payment Method (including charging more than one payment method), directly or indirectly, for all fees due (including any applicable taxes) in connection with any Funds Transfer you initiate via the Services.
Banana Pay will process each transaction in the local currency of the country you designate at checkout. Banana Pay (through its service providers) will collect the funds for a Funds Transfer from your Payment Method in U.S. dollars. The money will be made available to a foreign correspondent to transfer the money to the final beneficiary. The foreign correspondent is responsible for delivering the Funds Transfer to the intended beneficiary in their local currency. Currencies available to make Funds Transfers may be limited for regulatory or operational reasons based on factors such as the beneficiary’s country of residence. Exchange rates appliable to your Funds Transfer will be provided to you by Banana Pay via the Services. Please contact your bank or credit card company if you have any questions about these fees or the applicable exchange rate.
Banana Pay reserves the right, in its sole discretion, to decline or limit Funds Transfers, or suspend for investigation any Funds Transfer, that we believe (i) may violate Banana Pay’s risk management policies or procedures; (ii) violate applicable laws, rules, or regulations, or are otherwise unauthorized, fraudulent, or illegal; (iii) violate these Terms of Use or any other agreement between you and Banana Pay; or (iv) pose a risk to, or otherwise threaten, the safety, security, or integrity of Banana Pay or any other business or person, or their property.
You may not use or assist others to use the Services to send or receive funds: (i) into any United States embargoed countries; or (ii) to anyone on the U.S. Treasury Department’s list of Specially Designated Nationals, the U.S. Department of Commerce’s Denied Persons List or Entity List, UK Sanctions List and HM Treasury Department Consolidated List, United Nations Consolidated List or European Union Consolidated List. You represent and warrant that: (i) neither you nor your beneficiary are located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country; and (ii) you are not listed on any U.S. Government, UK or European Union list of prohibited or restricted parties. In addition to complying with the above, you must also comply with any relevant export control laws.
Banana Pay will take the necessary steps to rectify any payment processing errors that we become aware of. These steps may include crediting or debiting (as appropriate) the original Payment Method used or selected by you, so that you end up receiving or paying the correct amount. This may be performed by Banana Pay or a third party, such as your financial institution. We may also take steps to recover funds sent to you in error (including but not limited to an event of duplicate payments made to you due to a processing error), by reducing, setting off and/or debiting the amount of such funds from any future Funds Transfer made by you.
Please review our Cancellation & Refund Policy which is incorporated in these Terms by reference.
To the extent you receive any funds in error, you agree to immediately return such funds to Banana Pay.
You may use the Services only for lawful purposes and in accordance with these Terms.
You agree not to use the Services: (i) In any way that violates any applicable federal, state, local, or international law or regulation (including, without limitation, any laws regarding the export of data or software to and from the U.S. or other countries); (ii) for the purpose of exploiting, harming, or attempting to exploit or harm, any person in any way or otherwise expose any person to inappropriate conduct or harassment; (iii) to send or knowingly receive funds for the purposes of supporting or engaging in illegal or fraudulent activity; (iv) to engage in any commercial activity or conduct; (v) to impersonate or attempt to impersonate Banana Pay, a Banana Pay employee, another user, or any other person or entity; or (vi) to engage in any other conduct that restricts or inhibits anyone's use or enjoyment of the Services, or which, as determined by us, may harm Banana Pay or users of the Services, or expose them to liability.
You agree not to: (i) use any bot, robot, spider, or other automatic device, process, or means to access the Services for any purpose, including monitoring, scraping, or copying any of the material on the Services; (ii) use any manual process to monitor or copy any of the material on the Services, or for any other purpose not expressly authorized in these Terms, without our prior written consent; (iii) introduce to the Services or any Banana Pay system any viruses, Trojan horses, worms, malware, ransomware, logic bombs, or other material that is malicious or technologically harmful; or (iv) attempt to gain unauthorized access to, interfere with, damage, or disrupt any parts of the Services, any Banana Pay accounts, the servers on which the Services is hosted or stored, or any server, computer, or database connected to the Services.
You are solely responsible for any liability associated with your use of the Services. You shall not, and are not authorized to, use the Services in any manner that violates any person’s rights or any applicable law. You will indemnify, defend, and hold harmless Banana Pay, its employees, officers, affiliates, directors, licensors, and service providers, in all manner and in all respects against any and all claims, damages, or costs associated with your use of the Services.
Banana Pay may solicit your feedback regarding your experience accessing or using the Services. The comments, information, and details you submit to us through surveys, reviews, or other forums regarding your experience accessing or using the Services, including without limitation any suggestions or recommendations regarding the Services’ features or functionality, including any improvements (“Feedback”) may be used by Banana Pay without any obligation, limitation, attribution, or compensation to any party. You hereby assign to Banana Pay all right, title, and interest, including intellectual property rights, in and to any ideas, inventions, know-how, concepts, techniques, or other concepts contained in the Feedback.
Banana Pay may charge fees for use of the Services and any applicable Fees will be disclosed to you at the time you initiate a Funds Transfer or otherwise make a transaction with us or via the Services.
Any subscriptions purchased via the Apple App Store must be terminated via the Apple App Store for technical reasons. Termination must occur no later than 48 hours before the extension of the subscription. Instructions for canceling a subscription are available at https://support.apple.com/en-us/HT202039. In all other cases, cancelling your subscription must be done via a cancellation request to the Banana Pay email below.
Cancellation of your subscription will result in the termination of your access to the Services, as well as the closing of your account. All of your data and content may be immediately deleted from the Services upon cancellation. This information may not be recovered once your account is cancelled.
You shall not be entitled to a refund (pro rata or otherwise) of any pre-paid fees.
Banana Pay reserves the right to change, suspend, or discontinue any aspect of the Services at any time, including availability of a feature, database, or content. We may from time to time in our sole discretion develop and provide Services updates, which may include upgrades, bug fixes, patches and other error corrections and/or new features (collectively, including related documentation, “Updates”). Updates may also modify or delete in their entirety certain features and functionality. You agree that we have no obligation to provide any Updates or to continue to provide or enable any particular features or functionality.
You acknowledge that, as between you and Banana Pay, Banana Pay owns all right, title, and interest, including all intellectual property rights, in and to the Services and, with respect to third-party data or information, the applicable third-party owns all right, title, and interest, including all intellectual property rights, in and to the third-party data, trademarks, images, and related designs.
Banana Pay’s names and logos and all related product and service names, design marks and slogans, including BANANA PAY, are the trademarks or service marks of Banana Pay. All rights are reserved. You are not authorized to use any Banana Pay name or mark in any advertisement, publicity or in any other commercial manner without prior written consent of Banana Pay. All other trademarks, trade dress, images, photographs, and other works appearing in connection with the Services are the property of their respective owners.
The entire contents and design of the Services are protected by U.S. and international copyright law. All rights regarding the Services and materials contained on or in the Services, including any and all technology, code, or design related to the Services, are either owned by Banana Pay, are licensed to it, or are used with permission. Banana Pay and its licensors, vendors or other service providers retain and reserve all intellectual and proprietary rights to the Services.
Banana Pay makes reasonable efforts to determine that other website owned or operated by third parties accessible via the Services (collectively, “Third-Party Websites”) are active and appropriate at the time the links to such Third-Party Websites are placed in the Services. Banana Pay has no control over, and assumes no liability for, the continued existence of, or the material available on, any Third-Party Website. Should you discover that any link in the Services references a Third-Party Website that is no longer active or that contains inappropriate or irrelevant information, please notify us by sending an e-mail message to the address listed below. Links from the Services to Third-Party Websites do not constitute or imply an endorsement, sponsorship, or recommendation by Banana Pay or any of its subsidiaries or affiliates of the third party, the Third-Party Website, or the resources, information, or content contained therein. Banana Pay does not endorse or warrant, and is not responsible or liable for, any such Third-Party Website or the content thereon. Please review the applicable third party’s terms and conditions and privacy policy when interacting with or using any Third-Party Website.
You are solely responsible for your interactions with other users or any beneficiary of any Funds Transfer. We have no obligation to mediate or otherwise resolve disputes between users or individuals regarding any Funds Transfer.
You hereby agree that we may deliver all notices, disclosures, documents, reviews, analyses, or other materials, and any and all other documents, information, and communication concerning you or Banana Pay by means of email or by posting on the Website or App or by other means of electronic communication. Considering Banana Pay operates principally on the internet, by accessing the Services, you hereby consent to transact business electronically and to receive electronically all disclosures, documents, communications, notices, contracts, and agreements arising from or relating in any way to your or our rights, obligations, or services under these Terms or any other agreement between you and Banana Pay.
You agree to defend, indemnify and hold harmless Banana Pay and its affiliates, and each of their directors, officers, employees, and agents from and against all losses, expenses, damages, and costs, including reasonable attorneys’ fees, resulting from your breach or violation of any representations, warranties, covenants, obligations or other provisions set forth in these Terms or your use of the Services, including, but not limited to, any failure on your part to provide or update full and complete information in connection with your Payment Method and registration with the Services.
We reserve the right, but not the obligation, to take over the exclusive defense and control of any claim for which we are entitled to indemnification under these Terms. In such event, you hereby agree to cooperate and help us in asserting any defenses to such claims.
Banana Pay disclaims any and all liability for the acts, omission, and conduct of any users or third parties in connection with or related to your use of the Services. Users are completely responsible for their use of the Services and any linked sites therein. Users’ sole remedy against Banana Pay for dissatisfaction with the Services or any content is to stop using the Services or any such content at once. This limitation of relief is a part of the bargain between the parties.
THE SERVICES MAY CONTAIN TECHNICAL ERRORS, TYPOGRAPHICAL MISTAKES, OR OTHER INACCURACIES. UNLESS OTHERWISE EXPRESSED, THE SERVICES ARE PROVIDED “AS-IS,” WITHOUT ANY WARRANTY AND BANANA PAY EXPRESSLY DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT, OR ANY WARRANTY THAT THE SERVICES ARE ACCURATE, ADEQUATE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. YOU ACKNOWLEDGE AND AGREE THAT YOUR USE THE SERVICES AT YOUR OWN RISK.
IN NO EVENT WILL BANANA PAY OR ITS AFFILIATES BE LIABLE UNDER OR IN CONNECTION WITH THESE TERMS UNDER ANY LEGAL OR EQUITABLE THEORY, INCLUDING BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, AND OTHERWISE, FOR ANY: (i) CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, ENHANCED, OR PUNITIVE DAMAGES; (ii) INCREASED COSTS, DIMINUTION IN VALUE OR LOST BUSINESS, PRODUCTION, REVENUES, OR PROFITS; (iii) LOSS OF GOODWILL OR REPUTATION; (iv) USE, INABILITY TO USE, LOSS, INTERRUPTION, DELAY OR RECOVERY OF ANY DATA, OR BREACH OF DATA OR SYSTEM SECURITY; (v) COST OF REPLACEMENT GOODS OR SERVICES; OR (vi) DAMAGE OR INJURY TO PERSON OR PROPERTY, IN EACH CASE REGARDLESS OF WHETHER BANANA PAY WAS ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES OR SUCH LOSSES OR DAMAGES WERE OTHERWISE FORESEEABLE.
IN NO EVENT WILL BANANA PAY’S OR ITS AFFILIATES’ AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THESE TERMS OR YOUR USE OF THE SERVICES UNDER ANY LEGAL OR EQUITABLE THEORY, INCLUDING BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, AND OTHERWISE EXCEED THE GREATER OF: (i) THE AMOUNT PAID BY YOU TO BANANA PAY IN CONNECTION WITH THE FUNDS TRANSFER TO WHICH THE CLAIM RELATES, OR (ii) ONE HUNDRED U.S. DOLLARS ($100).
These Terms shall be construed and governed in accordance with the laws of the State of Minnesota, without giving effect to any choice or any conflicts of law provisions or rules. Any action relating to these Terms shall be brought in the federal or state courts located in the City of Minneapolis, State of Minnesota. You hereby agree to personal jurisdiction and submit to venue by such courts, and waive any jurisdictional, venue, or inconvenient forum objections to such courts.
You agree that we may, at our sole discretion, limit, suspend, or terminate your access to all or part of the Services without notice and cause. Any suspected illegal, fraudulent, or abusive activity is also grounds for terminating your relationship and such activity (including your personal information) may be referred to appropriate law enforcement authorities.
Upon suspension or termination of these Terms, your right to access or use the Services will immediately cease, and we reserve the right to remove or delete any information that you may have on file with us, including any account or login information, in accordance with these Terms.
You may delete your account with Banana Pay at any time. However, any obligations of a user incurred prior to such deletion shall survive the deletion of such user’s account.
Banana Pay is based in the United States and our offering of the Services is not intended to subject us to any laws in any jurisdiction outside of the United States. Be aware that access of the Services may result in the transfer of your information to servers located in the United States. If you access the Services from outside of the United States, you consent to all such transfers. You also do so on your own initiative and are responsible for compliance with local laws. We make no claims that the Services or any of its content complies with any laws outside of the United States.
These Terms and the Privacy Policy constitute the sole and entire agreement between you and Banana Pay regarding the Services and supersede all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, regarding the Services.
Banana Pay shall not be liable for any delay or failure to fulfill any obligation under these Terms resulting from causes outside the reasonable control of Banana Pay, including, but not limited to, acts of God, natural disasters, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, pandemics, epidemics or disease, strikes or shortages of transportation facilities, fuel, energy, labor or materials.
It is expressly agreed that Banana Pay and all Users shall be independent contractors of each other and that the relationship between the parties shall not constitute a partnership, joint venture or agency. Neither Banana Pay nor any User shall have the authority to make any statements, representations or commitments of any kind, or to take any action, which shall be binding on the other party, without the prior consent of such other party.
In addition to these Terms, you may enter into other agreements with us that will govern your use of the Services. If there is any contradiction or conflict between these Terms and another agreement you enter into with us applicable to the Services, the other agreement shall take precedence in relation to the specific aspects of the Services governed by such agreement.
If any part, term, or provision of these Terms is held to be illegal, in conflict with any law, or otherwise invalid, the remaining portion or portions shall be considered severable and not be affected, and the rights and obligations of the parties shall be construed and enforced as if these Terms did not contain the particular part, term, or provision held to be illegal or invalid.
Headings of the articles and sections in these Terms are for reference purposes only and shall not be deemed to have any substantive effect.
The provisions of these Terms shall survive any expiration or termination of these Terms or completion of any services hereunder to the extent necessary or appropriate to carry out the intent of such provisions.
We may assign our rights and obligations under these Terms, including in connection with a merger, acquisition, sale of assets or equity, or by operation of law. You may not assign rights and obligations under these Terms, including in connection with a merger, acquisition, sale of assets or equity, or by operation of law, without our prior written consent.
The failure by us to enforce any right or provision of these Terms will not prevent us from enforcing such right or provision in the future.
If you have questions regarding these Terms or the Services, please contact us at:
Banana Pay, LLC
2200 E Franklin Ave Suite #204 Minneapolis, MN 55404
612-332-0666