These General Terms of Use contain general information that apply to your use of Elephants’ products, services, app and website (“Terms“). Please read these Terms carefully. If you have any questions about these Terms, please contact our customer support.
You “User“ agree that these Terms regulate your access to and use of Elephants’ products, services, app, website, web app, official customer service channels (including email support, chatbot, social media and messaging services) as well as any services provided by our Partners made available to you from time to time (the “Services“). The terms “Company,“ “we,“ “us“ and “our“ refer to Elephants (HK) Limited, a company incorporated in Hong Kong and our affiliates. Please note that some regulated services will be provided by Partners. Where a Partner provides a separate set of terms or privacy policy for a specific site, application, or service, those terms or policies will take precedence in the event of a conflict with these Terms.
By accessing and using the Services or continuing to use the Services, including interacting with us via our website, app, web app, chatbot, social media and messaging channels or other communication platform (collectively, the "Platform"), you confirm that you have read, understood, and agreed to these Terms and that you agree to comply with them. If you do not agree to any of the Terms, you must not or stop using Elephants’ Services and the Platform. In addition, you have also agreed to the Privacy Policy, which sets out information about the cookies on the website and the terms with which we may process any personal data collected from you or that you provided to us. By accessing and using the Services, you consent to such processing and you warrant that all data provided by you is accurate.
These Terms shall also be supplemented by any other applicable terms that are specific to Elephants’ products and services, and shall collectively govern your access and use of the Elephants’ Services.
Important Statement: The Company is not a bank, it is a technology company. Your account is not covered by insurance against losses.
Legal Binding. These Terms create a legal binding and contractual relationship between you and the Company.
Changes to the Terms. The Company reserves the right to consider changes or amendments to the Terms, the Privacy Policy, and any other separate contracts at any time. The Company will notify you of such changes by updating the terms and conditions on the website and the application whereby the latest modification date shall be displayed. Any changes or amendments to these Terms shall be effective at the time posted on the website, application, via email, or by disclosure to you through other agreed methods. By continuing to access or use the Company’s Services, you are deemed to have accepted the modified terms and conditions of these Terms or any contracts. If you disagree with any changes to these Terms, the Privacy Policy or any other contracts, you may immediately terminate your use of the Company’s Services. The Company recommends that you regularly review these agreements to ensure your understanding of the terms and conditions governing your access to and use of the Company’s services.
Registration. Only businesses (including sole proprietors and other types of legal entities) are eligible to apply for an Account (as defined below). To use the Services available through our Platform, registration is necessary. During this process, you will need to provide contact information, including a phone number and password. Once registered, you’ll receive an account allowing you access to our Platform (“Account“). In order to use certain Services available through our Platform, you must go through the Know Your Business (KYB) process by providing information requested by the Company and/or our Partners and accepting to these Terms, including you must also read and acknowledge the collection, use and disclosure of personal data as notified by the Company in the Privacy Policy. The registration process should follow the procedures specified by the Company. The Company reserves the right to approve or reject the opening of the Account, authorise the Account activation, suspend or close it at its sole discretion. Failure to follow the specified procedures, refusal to provide the requested information, provide incomplete or outdated information or any other reasonable reasons which prevents the Company from being able to verify your identity or the true beneficiaries may be grounds for the Company to deny the opening of the Account. You agree to provide complete, accurate, and truthful information as requested by the Company in order for it to consider the approval of your Account.
Eligibility. Use of the Services is contingent upon:
It is your responsibility to ensure that using the Services does not conflict with any laws applicable to you. The Company may update the list of Restricted Locations without notice.
Verification. To access certain Services, the Company and/or its Partners are required to check and verify your personal information and confirm the identity of the User. Such information will be used for identity confirmation, checks for money laundering, financial crime, terrorism or proliferation of weapons of mass destruction activities, fraud, financial crimes committed on the Platform, or any other purposes that the Company deems necessary in order to comply with the applicable law or as specified in the Privacy Policy. Depending on the outcome, additional information might be requested continually. Access to or use of the Services may be denied if you do not provide necessary identity proofs or if the provided documents do not satisfy the Company or Partner’s criteria. You must ensure that your information is accurate, complete, and up-to-date. Failure to do so may lead to restricted access to the Platform or termination of these Terms by the Company. The Company will collect, use and disclose the information received from you in accordance with the Privacy Policy.
Warranty. You warrant that the information you provided is true, complete and up to date. If the Company has reasonable reasons to doubt that the information provided is inaccurate, false, not current or incomplete, the Company reserves the right to notify you to rectify the information, delete the relevant information, or terminate some or all of the Services provided to you. If the Company is unable to contact you through the provided contact information, you acknowledge and accept that the Company may not be able to provide the Services to you, and you are responsible for any losses or expenses incurred to the Company while you are using the Company’s services. In the event of any change, you acknowledge and accept that you are responsible to update your personal information and ensure that they are up to date.
Third-Party Account Information. Retrieval and Use of Third-Party Account Information. Through the Services, you may instruct the Company to obtain your transaction history, balance, and other data from a Partner where you hold accounts or conduct financial transactions (“Third-Party Account Information“). The Company collaborates with Partners to access this information. This data will be utilized to deliver the requested Services for internal business purposes and to suggest other relevant products and services. By linking an Account, you grant the Company permission to act as your agent in accessing this information from specified third parties and authorize those parties to disclose your details to the Company.
Disclaimer on Third-Party Account Information. The Company does not verify the accuracy, legality, or non-infringement of Third-Party Account Information. Responsibility for the information and any products or services from third-party sites or platforms remains with those entities. Transfers between your Custodial Wallet and linked accounts adhere to the terms set by the respective Partner and may be subject to specific limitations.
In order to use the Services on the Platform, you are required to register and create an Account in accordance with procedures set out by the Company. Certain Services will require you to complete Know Your Business (KYB) process first before being able to use such Services. The functions of the Platform and the Services may change from time to time without notice to you at the Company’s sole discretion.
Through our Partners, the Company provides the Services to you on the Platform. You are required to adhere to the conditions of each Service as well as agree and accept any terms and conditions of our Partners. By accessing and using the Services or continuing to use the Services, you confirm that you have read, understood, and agreed to these Terms, as well as our Partners’ terms and conditions, and that you agree to comply with them.
User Account Activities. You are solely responsible for:
Any loss or compromise of the foregoing information and/or your personal information and/or any device associated with your use of your Account may result in unauthorised access to your Account by third parties and the loss or theft of any Virtual Assets and/or fiat held in your Account and any associated accounts. Elephants assumes no responsibility for any loss that you may sustain due to any loss or compromise of the foregoing information (that is not due to any fault of Elephants) or any such device and/or your failure to follow or act on any notices or alerts that Elephants may send to you.
Account Confidentiality and Security. You are responsible for keeping your Account information, including your password, identification, and assets information confidential and overseeing all activities, Instructions and transactions that occur under your Account. Should any unauthorized access or security breach occur, you must immediately notify the Company via the provided support email support@elephants.inc. You are prohibited from allowing third parties to use your Account and are liable for all activities conducted through your Account, whether authorized or not. Unauthorized access attempts to the Services or aiding others in such activities will lead to the termination of your Account and possible legal action. You must only create and use an Account that is rightfully yours. You bear responsibility for the security and confidentiality of your Account, any Instruction made with your credential and password, will be assumed to come from you without any obligation to process with further verification. Be aware that Instructions via the Platform, often transmitted over the Internet, are subject to risks like, but not limited unauthorized access. Receipt of Instructions under your login ID and password is confirmed only when we’ve retrieved and acknowledged them. Any damage caused via the Internet in this process is your liability. In addition, you agree to the admissibility of such Instruction without further requirement of proof of authenticity or accuracy in a court of law under applicable evidentiary law, rules and/or regulations. If vulnerabilities are identified in the use of the Services and the Account by you that may compromise our security, such as the presence of viruses, malware or any other means with a malicious purpose, the Company may adopt preventive measures, such as: blocking access to the Account and Services without engaging its liability.
Right to Modify Services. The Company reserves the right to update, modify, suspend, disable, or restrict access to, or discontinue the Services, or any features, components, or content thereof at any time, for any reason, without notice to the user. There is no guarantee that specific services, features, components, or content will always be available.
Partner Services. The Company’s Services might provide access to various financial services including on/off ramp, credit card, and other financial services as might be the case from time to time. These said services are offered directly by Partners (“Partner Services“). It’s important to note that Partner Services may necessitate separate registration, identity verification, and agreement processes.
Served Countries. The Company may not offer the Services in all markets or jurisdictions and reserves the right to restrict or prohibit the use of the Services in certain foreign jurisdictions known as “Restricted Locations“ to be listed and updated in our FAQ.
Note: Please be aware that this list can change based on regulations and the Company’s discretion.
Partner Disclaimer. You neither have any contractual relationship with our Partners nor our Partners owe any duty of care to you under all circumstances (including during insolvency) except if otherwise agreed. Our Partners :
Third-Party Custodianship. Your fiat and/or Virtual Assets in the Custodian Wallet are held by a Custodian part of our Partners to ensure the secure management of your fiat and/ or Virtual Assets. By utilizing the Custodian Wallet, you acknowledge the risks involved, including system (related to the operation and security of the Custodians’ systems and platforms), market (arising from the volatile nature of Virtual Assets and their fluctuating market values), regulatory (associated with changing regulations and legal compliance of the Custodians), security (potential loss or theft of fiat and/or Virtual Assets due to cyberattacks or breaches by the Custodians), and operational risks (arising from operational failures, errors, or disruptions in the Custodian Wallet).
Authority Over Custodians. You agree and authorise the Company to instruct the Custodians to execute various actions related to your fiat and/ or Virtual Assets for settlement purposes including but not limited to freezing, deducting, converting, and transferring at the Company’s discretion.
Custodian Selection Discretion. The Company reserves the right to change the Custodian and, in such an event, has your authorization to transfer your fiat and/or Virtual Assets to the new Custodians for the purpose of continuing to use the Elephants Card and Services.
Delay in Transaction. Subject to any delays caused by Partners or delays due to fraud or compliance reviews initiated by the Partners, us or any third party partner providing you with services, transfers will normally process in the following time frame: a few business days for transfers from a linked account to the Custodian Wallet, or less, depending on factors such as payment type and funds availability. Transfer times are not guaranteed in any way by the Custodians, Partners and us.
Exemption from Liability. The Company and its affiliates bear no responsibility for any losses, damages or liabilities related to the Custodian Wallet’s management or the fiat and/or Virtual Assets stored within or otherwise caused by or attributable to the actions or omissions of the Custodians. The Custodians are responsible and liable for the security of your fiat and/or Virtual Assets held in the Custodian Wallet.
Wallet Account Structure. In respect of Virtual Assets, your Custodian Wallet consists of individual vaults assigned to service users for initially storing approved Virtual Assets. These assets are then aggregated into a separate, centralized omnibus account (“Pooled Account“), distinct from the Company’s own accounts. This collective account includes the Virtual Assets of all users, ensuring that both your individual wallet details and your proportionate share of assets in this Pooled Account are meticulously recorded and maintained by the Partners, and your Custodian Wallet will at all times be maintained in the account records of the Company.
Disclaimer Custodian Wallet. The Custodian Wallet is not equivalent to a bank debit card, savings, or checking account and does not yield interest. The wallet is not classified as a deposit account and thus does not qualify for coverage under the Deposit Protection Scheme or similar guarantee or consumer protection mechanisms in other application jurisdictions.
User Acknowledgments and Warranties. You accept that our related Partners (1) hold complete control over the Custodian Wallet arrangements such as freeze, convert and transfer of your fiat and/or Virtual Assets on your behalf as may be required; (2) are not a fiduciary, trustee or escrow agent in relation to your fiat and/or Virtual Assets; and (3) you are not a party to any agreements between the Company and the Custodians. All fiat and/or Virtual Assets deposited by you into the Custodian Wallet are of legal origin and in compliance with all applicable laws.
Accessibility of Transaction Records. Transaction histories by month can be accessed through the Platform, and no physical statements will be issued for your Custodian Wallet.
Deposits. To deposit fiat and/or Virtual Assets into your Custodian Wallet, you must follow specific instructions available on the Platform. The Custodian Wallet is designed to accept only certain currencies and types of Virtual Assets, referred to as “Acceptable Tokens”, for adding funds. You represent and warrant that any fiat and/or Virtual Assets used to fund your Custodian Wallet are owned by you, free of any legal claims or disputes, and not tied to illegal activities. The Partners reserve the right to reject transactions such as top-ups if concerns arise about the assets’ legality and authenticity, or if KYC, KYT, AML, and due diligence checks are not satisfactorily completed. Deposits might be subject to fees as specified on the Platform.
Notifications on Asset Management. The Company will inform you via the Platform about any actions taken on your Account, such as asset freezes or conversions, including the details of affected assets and the applied exchange rates.
Acceptable Tokens and Currencies. The lists of Acceptable Tokens and currencies for your Custodian Wallet are available on the Platform and may be altered by either the Custodian or the Company from time to time. Changes can occur due to various factors, including but not limited to regulatory demands, amendments in laws, or issues like scams. You are responsible for ensuring that you only send Acceptable Tokens and currencies to the Custodian Wallet. Any assets sent to the Custodian Wallet that are not Acceptable Tokens may be irretrievably lost.
Prohibited Activities. You agree that you will not engage in certain prohibited activities with the Platform. The particular examples of prohibited activities enumerated below are merely representative and do not constitute an exhaustive list of all prohibited activities (“Prohibited Activities“). Prohibited activities include, but not limited to:
Card Issuance. The Elephants Card, issued as part of the Card Issuance Services, is a credit card that can be used at retailers, merchants, online websites accepting cards from the relevant Card Network. Additionally, it allows for cash withdrawals at ATMs (limited to physical cards) provided they accept cards from the same network.
Pre-authorization of Card Transaction. When you make a Card Transaction using your Elephants Card, the Company will first check whether your Account has sufficient balance to execute your Card Transaction. If there is insufficient balance in your Account, the Card Transaction will be declined. If you have sufficient balance in your Account, the Company will settle the Card Transaction on the Card Network. You authorise the Company and/or its Partner to deduct the equivalent amount in fiat and/or Virtual Assets to the Card Transaction amount and any associated fees from your Account in order to settle your Card Transaction. This amount, referred to as the “Settlement Amount“.
Deduction and Conversion. Upon executing a Card Transaction, you grant our Company and/or its Partners permission to deduct and/or convert the necessary amount of fiat and/or Virtual Assets from the Custodian Wallet. This amount, equivalent to the Settlement Amount for the transaction. Fiat will first be deducted to cover the Settlement Amount in part or in full. In the event that there is insufficient fiat to cover the entire Settlement Amount in full, the Company and/or its Partners shall convert any Virtual Assets into fiat to cover the remaining Settlement Amount, at their sole discretion.The conversion rate is based on the current market rate between the settlement assets and converted assets. The converted funds are then used to settle the remaining Settlement Amount.
Activation. As a registered user, you can request an Elephants Card from the Company which will liaise with our Partners. The Elephants Card is issued upon the Company’s approval and must be activated via the process mentioned in the Platform. The Company and Issuer retain the discretion to decline your card request or revoke an issued Elephants Card at any time.
Physical Elephants Card. Subject to the Served Countries, Restricted Location and applicable fee, you may be able to request for an issuance of a physical Elephants Card. You recognize that the physical Elephants Card is our property. You are responsible for its careful handling and use, ensuring it is not tampered with, not allowing unauthorized use or sharing, avoiding intentional damage or defacement, and refraining from altering its appearance, including attaching anything or modifying its logos or designs.
Elephants Card Validity and Renewal. Unless earlier terminated or canceled, each Elephants Card is valid for a period set and shown on the Platform. Automatic renewal notices are sent via email one month before expiration if the card is used. A renewal fee, specified on the Platform, may be charged and debited from your Wallet Balance or billed separately. The same Terms apply to the renewed card. To opt out of renewal, contact the Company via support@elephants.inc or you can cancel the Elephants Card through the Platform. The Company and Issuer have the right not to issue a new Card upon the expiry of the Card’s validity or the user’s application for a new Elephants Card. If the user does not accept the Elephants Card and/or the Elephants Card is not activated within 3 months from the date of issuance of the Elephants Card, the Company or Issuer has the right to close, deactivate and destroy the Elephants Card without refunding any applicable fee and/or service charges. The user undertakes not to use the Elephants Card and not to allow the Elephants Card user to use an invalid, closed or otherwise unusable Elephants Card, and to physically destroy it within 3 days after it became closed or invalid or unusable.
Responsibility and Liability for Card Transactions. As the user of an Elephants Card, you are fully responsible for all transactions made with the Elephants Card. This includes ensuring that it is not used for any illegal or prohibited activities as per the laws of the place where the transaction occurs or in your country of residence. You bear liability for all Card Transactions, authorized or not, whether or not executed with your knowledge, and this extends to situations involving negligence on your part. You acknowledge and accept the risks associated with unauthorized Card Transactions.
Confidentiality and Security of Card Data. You shall keep your Elephants Card Data strictly confidential, only sharing it as necessary for transactions. Exercise caution when providing Card Data to merchants to maintain its security. Sharing Card Data via unsecured methods, like email or fax, is not safe. Neither the Company, Issuer nor its affiliates are liable for unauthorized transactions due to your failure to secure the Card Data.
Your Account and the Elephants Card balances will be denominated in USD. Any transaction activities that are not denominated in USD may be subject to foreign exchange fees and any other associated fees and charges. The Account Transactions may be subject to minimum and maximum limits determined by either the Company or its Partners. These limits are outlined on the Platform and may be modified from time to time at their discretion.
Converting Virtual Assets in your Custodian Wallet to stablecoins or fiat currencies, or any deductions from your Wallet Balance, might lead to various charges. These can include transaction and network fees, third-party service fees, foreign exchange variances, and other customary fees. You grant the Company permission to deduct the necessary fiat and/or Virtual Assets from your Wallet Balance for Account Transaction and Card Transaction settlements, converting them into fiat currencies as needed. These actions are at the Company’s discretion.
Using the Services may incur certain fees. These will be deducted from your Wallet Balance or charged separately. Non-payment of fees can result in suspension of Services until all such outstanding Fees have been settled. Fees are listed on the Platform and may be updated, removed or new fees introduced at the Company’s discretion. All fees are exclusive of taxes, which will be added to the final charge. These fees are final and non-refundable under any circumstances unless otherwise determined by the Company. Partners may assess charges for their services pursuant to Partners’ terms. The Company is not responsible for Partner’s Charges. Additionally, you might incur fees for sending or receiving funds on the Platform.
You are solely responsible for the outcomes of any freezes, deductions, or conversions made to your fiat and/or Virtual Assets in the Custodian Wallet. The Company is not liable for any losses or damages resulting from these actions.
The Company may offer, modify, or withdraw various benefits, promotional offers and discounts (“Benefit“) from various Partners at its discretion. Benefits might include mobile payment options, contactless payment, rewards, installment plans with certain partners, and other benefits as notified from time to time. Some benefits may require a separate application. The Company has the authority to exclude you from Benefits or reverse benefits if you breach any Terms.
Users can use your physical Elephants Cards for cash withdrawals (“Withdrawal Services“) at compatible ATMs. Withdrawals are subject to limits set by the Partners. Fees for these services, which can change without notice, may be charged both by the Partners. Please note that fees may also be charged by ATM providers in respect of any withdrawal, in respect of which the Company and Issuer will have no control and will not be liable. The Company and Issuer are not liable for any losses, damages or liabilities related to ATM withdrawals, or Virtual Asset or currency conversions.
The Company may engage third party service providers to carry out certain activities relating to the Services, including (without limitation) to collect information to verify User identities and/or to process any fiat and/or Virtual Assets transactions, including but not limited to payments in relation to your use of the Services or deposits or withdrawals from your Custodian Wallet.
You acknowledge and agree that:
You are responsible for obtaining and maintaining the necessary security, hardware, software, and services for the Platform, including antivirus software and timely updates for the App and your device. You bear sole responsibility for any access to the Platform through your device, even if unauthorized. In case of loss, theft, or unauthorized access to your device, promptly inform us at support@elephants.finance and reset your device’s password. The Company is not liable for losses or damages due to unauthorized use of your device.
Users may submit various types of content, such as profile information, comments, questions, and other content or information (“User Content“). While you retain ownership of your User Content, by submitting it through the Services, you grant the Company a royalty-free, sublicensable, transferable, perpetual, irrevocable, non-exclusive, worldwide license to use, reproduce, modify, publish, and display this User Content. This includes the right to make derivative works and to use your name, voice, and likeness as part of that content across all media types for the Service and the Company’s related business activities.
You may choose to, or we may invite you to, submit comments or ideas about the Services, including without limitation about how to improve the Services, Platform, procedures or our products (“Ideas“). By submitting any Idea, you agree that your disclosure is gratuitous, unsolicited and without restriction and will not place the Company under any fiduciary or other obligation and that we are free to use the Idea without any additional compensation to you, and/or to disclose the Idea on a non-confidential basis or otherwise to anyone. You further acknowledge that, by acceptance of your submission, the Company does not waive any rights to use similar or related ideas previously known to the Company, or developed by its employees, or obtained from sources other than you.
The Company is the owner of the Services and the Platform, and it has ownership or been granted a license to all the intellectual property rights related to the Services, the Platform or the Company. Any User or third party may not use these intellectual properties without the permission from the Company or the relevant intellectual property owner. You shall not use, copy, distribute, disclose, or develop any intellectual properties relating to the Services, the Platform or the Company. You shall not be permitted to sell, transfer, display, broadcast, or any other actions regarding the intellectual properties relating to the Services, the Platform or the Company other than expressly permitted in these Terms.
You acknowledge and agree that:
Provided you comply with these Terms, the Company grants you a limited, non-transferable, non-exclusive license to use the Services on your Enabled Device, and related to Content solely for approved purposes as permitted by the Company from time to time. This license is subject to these Terms and does not extend beyond what is expressly granted. All other rights are reserved.
Certain components within the Platform may be subject to open source or other specific licenses. In cases of inconsistency between these Terms and the licenses of those components, the latter’s terms will govern your use of those specific components of the Platform.
You acknowledge and agree that your use of the Services is at all times subject to your compliance with these Terms and all other applicable terms.
User represents, warrants, and covenants to the Company that:
The Company represents, warrants, and covenants to the User that:
Without limitation of either party’s rights or remedies, the User shall immediately notify the Company if, at any time after entering into these Terms, any of the representations, warranties, or covenants made by it under these Terms fail to be true and correct as if made at and as of such time. Such notice shall describe in reasonable detail the representation, warranty, or covenant affected, the circumstances giving rise to such failure and the steps the notifying party has taken or proposes to take to rectify such failure.
By utilizing the Services, you acknowledge and consent to our data protection practices as detailed in our Privacy Policy. This includes the collection, use, disclosure, and sharing of your personal data with the Company, Partners, Custodian, service providers, and relevant third parties, as necessary for facilitating your use of the Services. For more detailed information, refer to our Privacy Policy..
Both the Company and Partners reserve the right to conduct comprehensive customer due diligence through Know Your Customer (“KYC“), know your transaction (“KYT“) checks, anti-money laundering and counter-terrorism (collectively named “AML“), and other due diligence checks on all transactions and fiat and/or Virtual Assets linked to your Custodian Wallet. You must provide accurate, updated and full information for these checks. If deemed necessary, the Company and Partners may freeze part or all assets in any Custodian Wallet, canceling, restricting or blocking access to your Account and transactions of the affected fiat and/ or Virtual Assets until unfrozen. The Company and Partners may also refuse asset transactions such as top-ups, transfer particularly if legality or authenticity issues arise, or if compliance checks are unsatisfactory. You agree to cooperate in any investigations related to suspicious activities or transactions. The Company and Partners have a regulatory obligation to keep a record of your information for a period prescribed by the local regulator after the closure of your account.
For the benefits of the Users, the Company will communicate and announce any information such as changes to these Terms, the applicable fees, limitations or provisions of the services through the website Elephants.inc or provide any information relating to our products and Services, marketing and campaigns etc. through the Company’s official website/application or send via email or mobile number etc.
The Company reserves the right to terminate, suspend, or limit your use of its Services at any time, without notice, at its sole discretion. This includes actions like freezing, canceling, or closing your Account and/or Custodian Wallet, refusing or reversing Card Transactions. Such measures may be taken in case of a breach of Terms, unpaid fees, charges or subscription, for legal compliance, suspicion of unlawful or Prohibited Activities connected to your transactions, Partners are unable to support your use, or based on internal risk monitoring policies and your consumer group profile. The Company through its Partner shall remain entitled to debit your Wallet Balance for any amount and charges incurred in or related to Card Transactions that are carried out before or after the termination.
The Company reserves the right to log off or deactivate accounts that have been inactive for six (6) months or longer. In case of a reactivation, the Company might charge a reactivation fee. An account will be considered dormant after 12 months without transaction activity. At the Company’s sole discretion, the Company may impose and charge a monthly inactivity fee. This fee will be deducted from any available balance in the dormant account within the first week of each month. No negative balances will be incurred from inactivity fees if there’s no available balance. The Company may apply these fees without prior notice.
If the Company suspends or closes your Account, or terminates your use of the Services for any reason, you will be notified of such action as required by law, unless prohibited by court order or other legal process. The Company may, in its sole and absolute discretion, without liability, suspend and/or terminate your Account, or suspend your use of one or more of the Services if the Company reasonably believes that:
If your Account remains suspended or inactive for more than one hundred and eight (180) days and the Company is unable to contact you, we will close the Account.
Withdrawal of the remaining balance from your Account may be subject to additional identification, verification and fraud prevention steps to access funds in a suspended or closed account. If it is possible to unlock the resources, our Partner will have full discretion as to the options by which the User will receive such resources, informing the means by which they will be made available to the User. We reserve the right to require the User to provide more information before processing any withdrawal or transfer request and to extend the deadline for approval or prohibit any withdrawal or transfer in certain circumstances, especially when we detect or there are indications that fraudulent or illegal activity has taken place. If the User is unable to access their Account, the User must contact us at support@elephants.inc to process the transfer of the funds. Both the Company and Partners reserve the right to retain the funds for a specified period under certain conditions.
You are not entitled to any payment, damages or compensation for any suspension or termination of your use of the Services. Such suspension or termination does not absolve you of any accrued liabilities or responsibilities.
You are eligible for a refund of your Wallet Balance upon terminating your Account. The Company’s rights to suspend or terminate Services are separate from other legal rights or remedies. User-initiated termination and refund requests are made through the Platform at any time. To proceed, the Company may request identification for processing and compliance with laws. Refunds are subject to conditions to avoid negative balances and may incur fees to cover the costs incurred by the Company. The method of refund is at the Company’s discretion (e.g. on-chain transfer, bank transfer or cheque) and limited on time as per the applicable law.
If you have any disputes about a Card Transaction or any issue related to our Services or Platform or need to request a Chargeback (“Disputes“), contact us at support@elephants.inc promptly, but no later than 90 days after the transaction date. We will assist in resolving the dispute or forward your request to the right Partner or relevant Card Network for processing. For dispute resolution or Chargeback requests, you must follow the Card Network Rules. This includes submitting a detailed written explanation, transaction receipts, and other necessary documentation as required by the Issuer or the Card Network. Our Partners might apply a fee for the handling of a Chargeback at their discretion. Failure to report a Dispute within the ninety (90) days’ stipulated time-frame will constitute a waiver of your right and will be considered as acceptance of the Card Transaction as valid.
When reporting a Dispute, you must provide us with all relevant information to support your claim or any such information as may reasonably be required to facilitate us in submitting the Dispute to the Card Network, on your behalf, for their ultimate investigation and determination. You understand that the Company is subject to the Card Network Rules regarding chargebacks and may not be able to successfully chargeback the Dispute. In no circumstance does the Company represent or guarantee the validity of the dispute or the result of the investigation conducted by the Card Network. To the extent permitted by applicable law, you shall indemnify the Company of any and all Losses the Company may incur arising from such disputes. In the case the Dispute is not resolved then the case may go for arbitration. If in the unlikely event that this occurs, you agree and authorise the Company to deduct $500 from your account balance, which will be credited if you win the case.
The Company and Issuer have the authority to investigate any Disputes. In the event of an investigation, either by the Company, Issuer, Partner or a competent authority, you shall cooperate by providing any additional information or documentation as requested. If evidence reasonably concludes that any Disputes are either a result of your wilful default, fraud or negligence, or breach of these Terms, you agree and authorize us to debit the Custodian Wallet with the amount from the Disputes and any such associated charges and fees.
Fees incurred by the Company, Partners or Card Network for processing Disputes or Chargeback requests will be charged to the Wallet Balance or billed to you separately. These fees are non-refundable under any circumstances.
You hereby agree and accept that (a) the Company and/or Partners and/or the relevant Card Network may, but are not obliged to (whether under these Terms or otherwise) assist you with or process your Dispute or Chargeback request; and (b) the decisions of the Company and/or Partners and/or the relevant Card Network on all matters relating to or in connection with such dispute or Chargeback request is final and conclusive and binding on you for all purposes unless otherwise provided in such terms, conditions, rules, procedures and/or guidelines as may be issued by the relevant entity from time to time. You acknowledge and agree that the repayment of any amount previously charged to your Elephants Card may be subject to such terms, conditions, rules, procedures and/or guidelines as may be issued from time to time.
You acknowledge that neither the Company, Partners nor the relevant Card Network will be liable for any issues or outcomes related to disputes or Chargeback requests.
If you have a dispute with the Company (“Complaint“), you agree to first contact our support team at support@elephants.inc to seek an amicable resolution. This step should precede any arbitration claim or small claims court action. Failing to engage in this initial process may lead to a request for dismissal of your claim until the procedure is followed. The Company will conduct an initial investigation into the dispute. You are expected to reasonably cooperate by providing necessary information. If it is determined that you owe amounts due to error, fraud, or other reasons, you agree to make the appropriate payment within 45 days. Conversely, if the Company owes you, payment will be made to you within the same timeframe. Should the dispute not be resolved internally within 60 days, both parties agree to proceed with Arbitration as detailed in the applicable section.
Any disputes arising out of or in connection with these Terms, including any question regarding its existence, validity, termination or your use of the Services or the Platform, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC“) in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (SIAC Rules) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of the arbitration shall be Singapore. The tribunal shall consist of one arbitrator independently appointed by the SIAC and the language of the arbitration shall be English.
NOTWITHSTANDING ANYTHING IN THESE TERMS, TO THE EXTENT PERMITTED BY LAW, IN NO EVENT SHALL THE COMPANY OR ANY OF ITS REPRESENTATIVES BE LIABLE TO YOU: (A) FOR ANY LOSSES OR DAMAGE OR CLAIMS (I) DUE TO AN UNUSUAL OR UNFORESEEABLE EVENT, OUTSIDE THE REASONABLE CONTROL OF US AND THE CONSEQUENCES OF WHICH COULD NOT HAVE BEEN AVOIDED EVEN IF ALL DUE CARE HAD BEEN EXERCISED (INCLUDING BUT NOT LIMITED TO FORCE MAJEURE, EVENTS OF WAR OR CIVIL UNREST, NATURAL DISASTERS, STRIKE, LOCK-OUT, TRAFFIC DISRUPTION, ACTS OF DOMESTIC OR FOREIGN GOVERNMENTAL AUTHORITIES); (II) ARISING FROM OR IN CONNECTION WITH: (A) ANY DELAY, SUSPENSION, DISCONTINUANCE OR FAILURE OF THE PLATFORM OR SERVICES; (B) ANY REJECTION OF THE ELEPHANTS CARD; (C) ANY REFUSAL TO PROCESS OR AUTHORISE ANY TRANSACTION FOR ANY REASON; (D) YOUR INABILITY TO EFFECT OR COMPLETE ANY TRANSACTION DUE TO SYSTEM MAINTENANCE OR BREAKDOWN / NON-AVAILABILITY OF THE PLATFORM, NETWORK, OUR HARDWARE OR SOFTWARE OR THAT OF ANY THIRD PARTIES; (E) USE OF YOUR ENABLED DEVICE AND THE SERVICES BY THIRD PARTIES, WHETHER AUTHORISED OR UNAUTHORISED BY YOU; (F) ANY THEFT OR LOSS OF YOUR ENABLED DEVICE; (I) CAUSED BY US DUE TO COMPLIANCE WITH APPLICABLE LAWS, COURT ORDERS, AND/OR CARD NETWORK RULES; AND (II) ARISING OUT OF OR IN CONNECTION WITH THESE TERMS FOR LOST PROFITS, LOST REVENUES, LOST BUSINESS OPPORTUNITIES, EXEMPLARY, PUNITIVE, SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES, EACH OF WHICH IS HEREBY EXCLUDED BY AGREEMENT OF THE PARTIES TO THESE TERMS, REGARDLESS OF WHETHER SUCH DAMAGES WERE DIRECT OR INDIRECT, FORESEEABLE OR UNFORESEEABLE, OR WHETHER WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
In any case, the total liability of the Company arising out of or in connection with the provision of any Services under these Terms shall be limited to a maximum of USD 500 as of the date your claim arises.
The Company shall not be liable for fault on the part of any third-party service providers instructed by us. In such cases, the Company’s liability shall be limited to using reasonable care in the selection, appointment and instruction of such third-party service providers (but not of any subcontractor or other third-party such third-party service provider may use).
Nothing in these Terms shall operate to limit or exclude any liability for fraud or death or personal injury resulting from gross negligence and unlawful misconduct.
EXCEPT AS EXPRESSLY PROVIDED IN THESE TERMS, TO THE FULLEST EXTENT PERMITTED BY LAW, THE PLATFORM AND SERVICES PROVIDED BY THE COMPANY ARE PROVIDED ON AN “AS IS“ AND “AS AVAILABLE“ BASIS. WE DISCLAIM ALL OTHER REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, MADE TO YOU, YOUR AFFILIATES OR ANY OTHER PERSON, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES REGARDING QUALITY, SUITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON INFRINGEMENT OR OTHERWISE (REGARDLESS OF ANY COURSE OF DEALING, CUSTOM OR USAGE OF TRADE) OF ANY SERVICE OR ANY GOODS PROVIDED INCIDENTAL TO THE SERVICES PROVIDED UNDER THESE TERMS. THE COMPANY DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE PLATFORM, ANY PART OF THE SERVICES, OR ANY OF THE MATERIALS CONTAINED IN ANY OF THE FOREGOING WILL BE CONTINUOUS, UNINTERRUPTED, OR TIMELY; BE COMPATIBLE OR WORK WITH ANY SOFTWARE, SYSTEM, OR ANY OTHER ENVIRONMENT OR OTHER SERVICES; OR BE SECURE, COMPLETE, FREE OF HARMFUL CODE, OR ERROR-FREE. SUBJECT TO THE LIMITATION OF LIABILITY, THE COMPANY’S IN RESPECT OF REPRESENTATIONS AND WARRANTIES THAT CANNOT BE EXCLUDED IS LIMITED, AT ITS OPTION, TO ANY ONE OF RE-SUPPLYING, REPLACING OR REPAIRING, OR PAYING THE COST OF THE RE- RE-SUPPLYING, REPLACEMENT OR REPAIRING, OR PAYING THE COST OF SUPPLYING AGAIN THE SERVICES IN RESPECT OF WHICH THE BREACH OCCURRED.
Furthermore, the Company does not guarantee and is not liable for any loss or damage resulting from operational failure, errors, omissions, defects or delays in the performance of the operations or data transmission, computer viruses or system downtime (that was not caused by the Company’s fault). The Company does not guarantee or warrant the accuracy of any content, opinions or connections that occur under the Platform or the Services The User agrees and acknowledges that the Company shall not be liable for any loss or damage, including but not limited to any direct and indirect loss or damage arising from the use and provision of Services or the Company unless such loss or damage was the result of the company’s fault or negligence or the failure of the Company, its directors, management or personnel to conduct the business or operations to be in compliance with the applicable rules, regulations or laws of the relevant authorities, or that such loss or damage that cannot be limited by law.
You agree to indemnify and hold the Company, each of its affiliates, Partners, Custodian and third-party service providers, and each of their respective officers, directors, agents, joint venturers, employees and representatives, harmless from any claim or demand (including attorneys’ fees and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to (i) your breach of these Terms; (ii) your use of the Platform, the Services, the Elephants Card and/or the Custodian Wallet; (iii) your violation of any rule or regulation, or the rights of any third-party; and (iv) any transactions and/or Instruction resulted from your wilful default, fraud, gross negligence or breach of these Terms.
The content on the Platform is provided for general information only. You are encouraged to seek any professional advice before taking, or refraining from, any action on the basis of the content on the Platform.
When using our Services, please be aware of the risks associated with Virtual Assets and the Services as outlined in our Risk Disclosure Statement
You can contact us for additional information about the Company, the Services or file a compliance, you can contact us via email at support@elephants.inc.
The Terms, the Privacy Policy and all disclosures, notices or policies available on the Platform, comprise the entire understanding and agreement between the User and Company as to the Services and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this agreement), and every nature between and among the User and Company. Section headings in this agreement are for convenience only and shall not govern the meaning or interpretation of any provision of this agreement. In case of conflict between all the above documents, the agreement shall prevail. These Terms are concluded in the English language and all communications including any notices or information being transmitted shall be in English.
The Company may change these agreements from time to time at its own discretion. If the Company does, it will notify the User through the Platform or by email. In addition, we may at any time change, add or remove any feature or functionality of the Platform without prior notice. By continuing to use the Services after changes go into effect, the User agrees to be bound by the amendment/revision. If you do not agree to any of these terms or any future Terms and Conditions, do not use or access (or continue to access) the Service.
The Company is not responsible for delays, failures, or service interruptions stemming from causes beyond reasonable control. This includes but is not limited to, natural disasters, acts of authority, terrorism, wars, labor disputes, fires, technological breakdowns, or any other events outside our reasonable control. Such circumstances will not compromise the validity and enforceability of the remaining provisions of these Terms.
The User may not assign any rights and/or licenses granted under these Terms without the prior written consent of the Company. The Company reserves the right to assign its rights without restriction, except notice to the user, including without limitation to any Company’s affiliates or subsidiaries, or to any successor in interest of any business associated with the Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, these Terms will bind and insure the benefit of the parties, their successors and permitted assigns.
If any provision of these Terms shall be determined to be invalid or unenforceable under any rule, law, or regulation or any governmental agency (local, state, or federal), such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of these Terms shall not be affected.
All provisions of these Terms which by their nature extend beyond the expiration or termination of these Terms, including, without limitation, sections pertaining to suspension or termination, your Account cancellation, debts owed to the Company, general use of the Platform, disputes with the Company, and general provisions, shall survive the termination or expiration of these Terms.
No person other than you and us will have any right under these Terms to enforce or enjoy the benefit of any of the provisions of these Terms.
These Terms shall be governed by and construed in accordance with the laws of Hong Kong.
“Acceptable Tokens“
refers to the specific Virtual Assets that the Company accepts for deposit into the Custodian Wallet. Currently, this includes Tether (USDT), and USD Coin (USDC). The Company reserves the right to update this list at any time based on their discretion.
“Account“
means the account registered by the user to have access to the Platform.
“Account Transaction“
means each transaction effected by using your Account on the Platform.
“App“
refers to the mobile application software provided by the Company, compatible with Android and Apple iOS devices. It encompasses all content, services, updates, upgrades, supplements, releases, and versions available within or through the application.
“ATM“
means automated teller machines;
“Authorised Persons“
means any person authorised by the User or a person reasonably believed by the Company to be authorised by User to act on behalf of User (e.g., employees, admin, enterprise owner, etc.).
“Card Issuance Services“
means the card issuance services provided by a Partner to the Company, which enable the issuance of the Elephants Card under the relevant Card Network;
“Card Network“
means any international credit, debit and card network that is applicable in respect of your Elephants Card;
“Card Data“
means the primary account number (PAN), expiration date and security code of a Elephants Card;
“Card Transaction“
means each transaction effected by using your Elephants Card or PIN;
“Chargeback“
means a dispute filed by the Company that is sent through the relevant Card Network in accordance with the relevant Card Network Rules relating to a Card Transaction;
“Custodian Wallet“
means the fiat and/or Virtual Assets wallets provided and hosted by the Custodians which allows a user to store with the Custodians the types of fiat and/or Virtual Assets that have been approved by the Company;
“Custodian“
means a Partner designated and appointed by the Company to provide secure wallet services for the holding and management of fiat and/or Virtual Assets;
“Elephants Card“
refers to a credit card, available as either a virtual or physical card, which is provided to you by us, allowing for transactions and access to credit secured by your deposited fiat and/or Virtual Assets held by the Custodian(s);
“Enabled Device“
refers to the mobile communications or other device successfully registered by you for use in connection with the Platform and Services;
“Instructions“
refer to any and all forms of information, communications, directives, or orders associated and initiated by you or your Account, including those related to payments, transfers, or other types of transactions, whether they are automated or manually entered;
“Issuer“
means one of our Partner, the ultimate issuer of the Elephants Card;
“Third Party Content“
means content provided by third parties (including, without limitation, any third party websites and any other third party content that may be accessible through or linked to the Platform).
“Virtual Assets“
refer to any digital representation of value that can be digitally traded, transferred or used for payment;
“Wallet Balance“
refers to the total amount of fiat and/or Virtual Assets held in the Custodian Wallet, as may be increased or decreased according to these Terms.