Terms & Conditions

1. Introduction

These terms and conditions (the “Terms”) govern your use of the e-money service provided by WamNow Technologies Limited (the “Service”). Please read these Terms carefully. By using the Service, you agree to them. If you do not agree, you should not use the Service. These Terms incorporate (by reference) our Privacy Policy.

2. Definitions

In these Terms, the following words have the meanings below:

“Wam”, “we”, “us”, or “our”: means WamNow Technologies Limited.

“User” or “you”: means the person who has registered for a User Account with WamNow Technologies Limited.

“User Account”, “Account”, or “Wam Account”: means a user's electronic account with WamNow Technologies Limited.

“E-Money”: means the monetary value credited to a User's Account and which can be used to purchase goods and services, transferred to other Users or redeemed in cash or to a bank account, in accordance with these Terms.

“Transaction”: means the movement of money into or out of your Wam Account and includes Top Up, Transfer and Cash Out.

“Authorised Agent”: means a third party appointed by Wam to provide cash-in, cash-out or other services on Wam's behalf.

“AML” means anti-money laundering; “CTF” means counter-terrorist financing; “EDD” means enhanced due diligence.

“Top Up”: means loading funds into your Wam Account so that new e-money is issued to you. Top Up may be completed via bank transfer using your unique reference, card top-up (where available), cash-in with an Authorised Agent, or any other method shown in-app. Incoming Transfers from another Wam user are not Top Ups.

“Transfer”: means a peer-to-peer movement of e-money between Wam Accounts, including payments to merchants who accept Wam. Transfers move existing e-money and do not create or redeem e-money. Once executed, Transfers are irrevocable except as required by law or under our error/refund rules.

“Cash Out”: means the redemption of e-money held in your Wam Account by transferring funds to a linked bank account (where available) or receiving cash via an Authorised Agent. On Cash Out, the corresponding e-money is extinguished.

3. User Account Eligibility

To be eligible to use the Service, you must:

• Be at least 18 years of age or have the consent of a parent or guardian.
• Have a valid government-issued photo ID and proof of address.
• Meet the KYC requirements applicable to your account tier (we may request additional information, including EDD, for higher-risk profiles).
• Agree to these Terms.

4. Account Set-Up

You must complete the User Account registration process to set up an account and must provide accurate and complete information as requested. Wam may reject or terminate a User Account if it determines that the information provided is inaccurate or incomplete. Where higher risk is identified, Wam may request additional documentation to meet EDD requirements.

By using the Service, you agree to receive service-related communications via email, SMS, push notifications, or in-app messaging. You must ensure your contact details remain up to date. Notices sent via these methods will be deemed received within 24 hours.

5. Top Up E-Money

You can top up your account using a variety of approved methods, including bank transfers, via Authorised Agents, or other methods shown in-app. Wam may add or remove Top Up methods from time to time (we will provide notice where required by law or for material detrimental changes).

Your account may be subject to limits on the maximum balance or transaction amount based on your verification tier. These limits are disclosed in-app and may be adjusted in accordance with risk assessments or regulatory requirements.

6. Withdrawing E-Money

E-Money can be withdrawn from your account by transferring it to a linked bank account (where available), or receiving cash via an Authorised Agent. Withdrawals may be limited or delayed if AML/CTF or fraud flags are triggered, or if further verification is required.

7. E-Money Balances and Transactions

You are responsible for checking the accuracy of your E-Money balance and Transactions through the Wam app. You must notify us of any errors or discrepancies as soon as possible. You are responsible for all transactions made using your Account. Once confirmed, transactions are considered final unless required otherwise by law or our refund policy.

Refunds are subject to investigation and may take up to fourteen (14) business days. You must report any suspected error or dispute within 48 hours. Refunds will be credited to your Wam Account unless otherwise agreed.

It is your responsibility to ensure the accuracy of transaction details before confirming them. If you suspect that your Wam wallet has been compromised, you must immediately report the issue to us at support@wam.money and take necessary steps to secure the account.

8. User Conduct

You agree to use your Account only for lawful purposes and in accordance with these Terms. You must not use your Wam Account for any of the following:

• (i) Illegal or fraudulent activities;
• (ii) Transactions involving prohibited goods or services;
• (iii) Violation of intellectual property or data privacy laws;
• (iv) Transactions on behalf of third parties without authorisation;
• (v) Any other use Wam reasonably believes poses a risk to you, other users, or our business.

Wam reserves the right to suspend or terminate your Account and report suspicious activity to the appropriate authorities.

9. Fees and Charges

Fees may apply to certain features or services. The applicable fees are made available to you prior to using the relevant service. You agree to pay all fees and charges incurred in connection with the use of the Service.

10. Electronic Value (Nature of E-Money and Safeguarding)

E-Money stored in your Account is not a deposit, does not earn interest, and is not insured by any deposit insurance scheme. Funds held in your Wam Account are safeguarded in accordance with the E-Money Issuer Order, 2020, and are backed 1:1 by fiat currency held in designated accounts. You acknowledge that the E-Money stored in your User Account represents a claim on Wam as defined in the Financial Institutions Act (FIA) 2008, and is not legal tender.

Wam safeguards customer funds in accordance with applicable law and our safeguarding arrangements, which segregate customer funds from Wam's own funds.

11. Amendments

Wam may amend these Terms at any time. We will give at least thirty (30) days notice for any changes or increase in fees, except where changes are required by law or related to security/AML/CTF/fraud prevention, in which case we may implement sooner with notice. Your continued use of the e-money service after any amendment indicates your acceptance of the amended Terms.

12. Assignment

You may not assign your rights or obligations under these Terms without the prior written consent of Wam. Wam may assign its rights and obligations under these Terms and conditions without your prior written consent.

13. Suspension and Termination

We may suspend or terminate your access to Wam and your Account if you are in breach of these Terms, where required by an authorised government or regulatory entity, or where required to meet our AML/CTF obligations or to prevent fraud or misuse. You may choose to terminate your Account at any time. Any remaining e-money can be withdrawn via the methods under Clause 6.

14. Indemnity and Limitation of Liability

Wam will not be liable for any losses except in cases of our intentional misconduct. In such cases, our liability is limited to the transaction amount and any related fees. We are not responsible for losses caused by:

• (i) incorrect information you entered;
• (ii) transactions before you reported unauthorised access;
• (iii) sending money to the wrong person;
• (iv) network outages or maintenance;
• (v) actions by government or third parties.

You agree to indemnify Wam against any loss, damages, or liability (including third-party claims) resulting from your actions, omissions, or breaches of these Terms. This clause survives the termination of your Account.

15. Acts Beyond Human Control

Wam will not be liable for delays or failures in performing our obligations under these Terms due to events beyond our reasonable control, including civil unrest, strikes, resource shortages, system or equipment failures, labour disputes, fires, floods, epidemics, natural disasters, or government actions. If such delays or failures continue for at least thirty (30) days, either you or Wam may terminate these terms with written notice to the other party.

16. Entire Agreement

These Terms, together with any other agreements or policies referenced herein, constitute the entire agreement between You and Wam regarding the use of our service.

17. Severability

If any provision of these terms and conditions is found to be illegal, invalid or unenforceable, the remaining provisions shall remain in full force and effect.

18. Waiver

The failure of Wam to enforce any right or provision in these Terms shall not constitute a waiver of such right or provision unless acknowledged and agreed to by us in writing.

19. Contact Information

If you have any questions regarding these terms and conditions or the e-money service, please contact WamNow Technologies Limited at support@wam.money.

20. Complaints and Dispute Resolution

If you wish to make a complaint or report unauthorised access, please contact support@wam.money. We will acknowledge your complaint promptly, investigate, and aim to provide a final response within a reasonable period.

21. Privacy

We process personal data in accordance with our Privacy Policy (available in-app and on our website), which explains what data we collect, how we use and store it, legal bases for processing, your rights, and retention periods.

22. Governing Law and Jurisdiction

These Terms are governed by the laws of Trinidad and Tobago. Any disputes will be handled by the courts of Trinidad and Tobago, unless your local consumer protection laws give you different rights.