User Agreement

This user agreement is a contract between you and Pesh Money Limited (“PESH”) governing your use of your PESH account and the PESH services.

You agree to comply with all of the terms and conditions in this user agreement. The terms include an agreement to resolve disputes by arbitration on an individual basis. You also agree to comply with the following additional policies and each of the other agreements posted on our website that apply to you:

  • Privacy Policy

  • Consent to Receive Electronic Disclosures (E-Sign Disclosure and Consent)

We may revise this user agreement and any of the policies listed above from time to time. The revised version will be effective at the time we post it unless otherwise noted. If our changes reduce your rights or increase your responsibilities, we will provide notice to you of at least 21 days. We reserve the right to amend this agreement at any time and without notice, subject to applicable law. By continuing to use our services after any changes to this user agreement become effective, you agree to abide by and be bound by those changes. If you do not agree with any changes to this user agreement, you may close your account.

Opening a Personal PESH Account

You may only have one personal account. You must have a Trinidad and Tobago bank account to use the PESH services. To create a personal account, you must be a resident of Trinidad and Tobago, be at least 18 years old, have a valid email address, and use a cellular/wireless telephone number that you own and which can receive SMS messages.

Personal PESH accounts let you do things like:

  • Send or receive payments with friends or family.

  • Add or Withdraw funds using your digital wallet balance and your linked personal bank accounts

Personal accounts may not be used to conduct business, commercial or merchant transactions with other personal accounts, which includes paying or accepting payment from other personal accounts held by users you do not personally know for goods or services (for example, concert tickets, electronic equipment, sneakers, a watch, or other merchandise).

Keep confidential any credentials you use to access your PESH account and the PESH services. You must keep your phone number, email address, and other contact information current in your PESH account profile.

Closing Your Pesh Money Account

You may close your account and terminate your relationship with us without cost, but you will remain liable for all obligations related to your PESH account even after the PESH account is closed. Any incomplete transactions or transfers must be completed or cancelled, and you must transfer any PESH balance from your PESH account before closing it.

In certain cases, you may not close your PESH account, including:

  • To evade an investigation.

  • If you have a pending transaction or an open dispute or claim.

  • If you owe amounts to us.

  • If your PESH account is subject to a hold, limitation, or reserve.

Link or Unlink a Payment Method

You can link or unlink a TRINIDAD AND TOBAGO bank account to your PESH account as a payment method. Please keep your payment method information current for your

  1. Contact Name (First Name and Last Name)

  2. Mailing Address

These details should match your bank account statements and can be used to help resolve any issues with bank settlements.

As part of the payment method verification process, PESH will perform credit and debit transactions. Payment method verification is performed at no additional fee to the user.

Once your payment method has been validated, you cannot change your selected bank, type (e.g. chequing or savings) or account number. If you need to change any of this information, you must deactivate the payment method and enter your desired account number as a new payment method. PESH will retain your bank transfer history with your previous method, and this will be available for you within the mobile application. PESH will then validate this payment method. Once validated, the new payment method can be used for bank transfers.

User Identification

As a PESH user, we require you to accurately provide certain identifying information. The required identifying information is

  1. First Name and Last Name

  2. Physical address

  3. Date of birth

This information will be used, as required, to validate your identity.

User Account Balance

Your PESH wallet balance, which has not been withdrawn, represents an unsecured claim against us and is not insured by the Deposit Insurance Corporation (DIC).

All user balance amounts are managed in a specific custodian account, per regulatory guidelines. These pooled amounts are held apart from our corporate funds, and we will neither use these amounts for our operating expenses or any other corporate purposes nor will we voluntarily make these amounts available to our creditors in the event of bankruptcy.

PESH owns the interest, or other earnings, gained by the custodian account. You do not have any ownership interest (either legal or beneficial).

Adding Money to and Transferring Money out of Your PESH Account

You can manage linked bank accounts via the PESH mobile application’s ‘Settings’. We may set limits on your bank transfers in compliance with local laws, and you can view bank transfer limits on our website. Any fees applicable to transferring money out of PESH can be found on our website. Fees and limits may change from time to time at our sole discretion.

Adding or Withdrawing Money

Only if we have verified the bank account information that you provide to us, may you

  1. transfer money to your PESH account balance from the linked bank account.

  2. transfer money from your PESH account balance to the linked bank account.

Bank Transfer Reviews

We review account and transaction activity at various times, including when bank transfers are initiated. This review checks for, among other things, suspicious or illegal activity, and whether your account activity and the activity of users with whom you’ve transacted comply with this agreement. In connection with our review process, you may be required to provide us with additional information and/or documentation to verify your identity. We may limit your account and your access to money in it or that is sent to you until verification is completed.

Reviews may result in:

  • delayed, blocked, or cancelled transfers;

  • money or payments being held by us;

  • money or payments being applied to amounts you owe to us or used to offset loss incurred by us;

  • account limitation, suspension, or termination;

  • money or payments being seized to comply with a court order, warrant, or other legal processes; and/or

  • money or payments you previously received being reversed (i.e., sent back to the sender or bank account that was used to fund the payment).

Among other reasons, we may take the above actions if you knowingly or unknowingly were a participant in a payment that was made from a compromised bank account or compromised PESH account, or if you were a participant in a transaction for goods and services between two personal accounts.

PESH SHOULD ONLY BE USED TO TRANSACT WITH PEOPLE YOU KNOW AND TRUST. DO NOT USE PESH TO TRANSACT WITH PEOPLE YOU DON’T KNOW, ESPECIALLY IF THE PAYMENT INVOLVES THE PURCHASE OR SALE OF A GOOD OR SERVICE, IT IS RESTRICTED UNDER THIS AGREEMENT. IF YOU USE PESH TO CONDUCT SUCH A TRANSACTION AND WE LATER REVERSE THE PAYMENT (WHICH COULD OCCUR IF IT IS DETERMINED THAT THIS AGREEMENT WAS VIOLATED OR IF THE PAYMENT WAS MADE USING A COMPROMISED PAYMENT METHOD OR ACCOUNT), YOU COULD LOSE BOTH THE UNDERLYING GOODS OR SERVICES AND THE MONEY SENT FOR THEM.

Account Statements

You have the right to receive an account statement showing your PESH account activity. You may view your PESH account statement by logging into your PESH account.

Payments with Users

Making Payments with Users

You can send money to or request money from a user via the compose payments feature in your PESH account. The user will have to accept any payment request before you are sent money. When you accept a payment request sent by another PESH user, you will immediately send them money to their digital wallet once your current wallet balance is sufficient and their wallet balance is not over the legal limit.

You cannot send money to or request money from an individual if they don’t have a PESH account. If the person does not have a PESH account, you can invite the person to create an account. Only after the account is created can you create your payment or request transaction.

Account Limits

We may, at our discretion, impose limits on the amount and/or the number of payments you can send and receive. You can view any sending limits on our website.

  • In order to manage risk, we may limit the payment methods available.

  • Limits may change from time to time at our sole discretion.

Using Your PESH Account Balance

You are responsible for ensuring your balance is sufficient to cover your in-app transactions. When your available PESH balance can’t cover the entire amount of a particular transaction, you will receive a prompt with this notification.

Additionally, while you can add multiple bank accounts, only your bank accounts that were verified by PESH are available for you to add or withdraw funds.

Bank Account Transfers and Fees

When you use your bank account to credit and/or debit your PESH account balance, you are allowing us to initiate a transfer from your bank account. For these transactions, we will make electronic transfers from your bank account for the amount you authorise. You authorise us to try this transfer again if the initial transfer is rejected by your bank for any reason.

Pesh charges a standard fee for all credit and debit transactions, this includes retries.

  • The fees applicable to sending money can be found on our website at www.peshmoney.com.

  • Fees may change from time to time at our sole discretion.

IF YOU HAVE NO PESH ACCOUNT BALANCE OR IT DOESN’T COVER A PESH ACCOUNT PAYMENT, YOU SHOULD CONFIRM THAT YOUR BANK ACCOUNT CONTAINS FUNDS SUFFICIENT TO COVER THE PAYMENT BEFORE MAKING THE PAYMENT, IF FUNDED BY YOUR BANK ACCOUNT. THIS WILL HELP YOU AVOID OVERDRAFTS OR OTHER FEES YOUR FINANCIAL INSTITUTION MAY CHARGE.

Transactions Privacy

Transactions and related transaction comments are private between the sender and the recipient. No other PESH users are able to view the transaction details. Review our website for more information on Privacy.

Refunds, Reversals and Chargebacks

Payments that are invalidated and reversed

Payments may be invalidated and reversed by us if, among other reasons, PESH sent the payment to you in error, the funding transaction is declined or reversed, the payment was unauthorised or underfunded, or if the payment was for activities that violated this agreement or any other agreement with us.

As the sender or recipient of a payment that is later invalidated for any reason, you may be liable to us for the full amount of the payment and we may recover the amount of the payment (plus any fees) from you. We may recover the amount of the payment from either the sender or the recipient of an invalidated payment at our discretion (subject to applicable law). For example, if you send a payment funded by a bank account and the bank informs us it cannot cover the payment due to a lack of funds or a dispute, we may hold you liable for the payment, or if you were the recipient of that payment, we may reverse that payment from your account to cover the liability.

When recovering the amount of an invalidated payment from you, we may apply any money sent to your PESH account, request that you add money to your account for the amount of the payment and apply that money to amounts owed, and/or we may:

  • engage in collection efforts to recover such amounts from you;

  • take any or all action as outlined under Amounts Owed to Us; and

  • place a limitation or take other action on your PESH account as outlined under Restricted Activities and Holds and Limitations.

If we invalidate a payment because the originating bank declined or reversed the transaction, then you may be liable for the payment even if you disagree with the decision of the originating bank to decline or reverse the payment. If you believe that a payment initiated with your PESH account was not authorised, then you must notify us immediately, even if you (or someone else) dispute the transaction with the originating bank. Please see below under the heading Reporting an Unauthorised Transaction for information about how to notify us. If you fail to report the unauthorised activity directly to us, then we may recover the amount of the reversed payment from you, as described above.

Inactive Accounts

We classify an account as "inactive" if there has been no login activity for 12 consecutive months.

If you haven't logged in for 11 consecutive months, we'll send you a notification to the email address associated with your account. You'll have two options:

  1. Log in to your PESH account to keep it active, OR

  2. Close your PESH account.

Upon reaching the 12-month mark, we'll notify you via email about the upcoming deactivation. Failure to log in or notify PESH will result in your account being locked. While locked, you won't be able to access your account. To regain login access, please reach out to our customer support at support@peshmoney.com.

If your account gets locked, and you had a remaining account balance, you'll need to contact our customer support to reactivate your account.

Reactivate may involve re-validating your Account information, including, but not limited to:

  • Bank account(s)

  • Identification documentation (e.g., Driver’s Permit or National ID)

  • Email Address

  • Mobile Number

Once reactivated, you can initiate a withdrawal request using the PESH mobile app.

Before disabling your account, PESH will make reasonable efforts to contact you via available channels like email, phone call, or SMS.

In the event of your account being locked for 12 consecutive months without any communication from you, your account will be permanently deactivated. Any remaining account balance will be held by PESH for a minimum of 7 years.

After the 7-year period, if you haven't claimed the balance, PESH will transfer it to the Central Bank of Trinidad and Tobago in accordance with local laws and regulations.

Restricted Activities

In connection with your use of our websites, your PESH account, the PESH services, or in the course of your interactions with us, other customers, or third parties, you must not:

  • Breach these Terms and Conditions, or any other agreement between you and us;

  • Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);

  • Infringe our or any third party's copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;

  • If you have a personal account, use your PESH account to conduct transactions for goods or services with other personal accounts;

  • Create or control more than one personal account for yourself without our express authorisation, through, among other methods, using a name that is not yours, using a temporary email address or phone number, or providing any other falsified personal information;

  • Act in a manner that is defamatory, trade libellous, threatening or harassing;

  • Provide false, inaccurate or misleading information;

  • Send or receive what we reasonably believe to be potentially fraudulent money or payments for advertising, marketing, or otherwise on an unsolicited and unauthorised basis;

  • Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

  • Attempt to double dip during the course of a dispute by receiving or attempting to receive money from both us and the recipient of a payment, or bank for the same transaction;

  • Control an account that is linked to another PESH or PESH account that has engaged in any of these restricted activities;

  • Use the PESH services in a manner that results in or may result in:

    • complaints;

    • disputes; claims, reversals, chargebacks,

    • fees, fines, penalties or other liability or losses to PESH or IN other customers, third parties or you;

  • Have any amounts owed to us;

  • Access the PESH services from outside Trinidad and Tobago;

  • Take any action that imposes an unreasonable or disproportionately large load on our websites, software, or systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf or the PESH services;

  • Facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorised access to any system, data, information or PESH services;

  • Use an anonymizing proxy; use any robot, spider, other automatic devices, or manual process to monitor or copy our websites without our prior written permission; or use any device, software or routine to bypass our robot exclusion headers;

  • Interfere or disrupt or attempt to interfere with or disrupt our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf, any of the PESH services or other users’ use of any of the PESH services;

  • Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers or service providers;

  • Use the PESH services to make excessive or unexplainable transactions;

  • Circumvent any of our policies or determinations about your PESH account such as temporary or indefinite suspensions or other account holds, limitations or restrictions, including, but not limited to, engaging in the following actions: attempting to open a new or additional PESH account(s) when you have amounts owed to us or when your PESH account has been restricted, suspended or otherwise limited; opening new or additional PESH accounts using information that is not your own (e.g. name, address, email address, etc.); or using someone else’s PESH account; or

  • Harass and/or threaten our employees or other users.

Actions We May Take if You Engage in Any Restricted Activities

If we believe that you’ve engaged in any of these activities, we may take a number of actions to protect ourselves, our customers and others at any time at our sole discretion. The actions we make take include, but are not limited to, the following:

  • Terminate this agreement, limit your PESH account, and/or close or suspend your PESH account, immediately and without penalty to us;

  • Refuse to provide the PESH services to you in the future;

  • Limit your access to our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf, your PESH account or any of the PESH services, including limiting your ability to pay or send money with any of the payment methods linked to your PESH account, restricting your ability to send money or make bank transfers;

  • Hold your PESH balance for up to 180 days if reasonably needed to protect against the risk of liability or if you have violated our Terms and Conditions;

  • Update inaccurate information you provided us;

  • Take legal action against you; or

  • If you’ve violated our Terms and Conditions, then you’re also responsible for damages to us caused by your violation of this policy.

Terms and Conditions

If we close your PESH account or terminate your use of the PESH services for any reason, we’ll provide you with notice of our actions and make any unrestricted money held in your PESH account or that has been sent to you available for bank transfers.

You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by us, any customer, or a third party caused by or arising out of your breach of this agreement, and/or your use of the PESH services. For example, if you send a payment funded by your bank account and your bank informs us you do not have sufficient funds to cover the payment, you may be liable for the payment. Similarly, if you receive a payment and the payment is disputed, you may be liable for the payment.

Holds and Limitations

Definition

Under certain circumstances, in order to protect PESH and the security and integrity of the network that uses the PESH services, PESH may, in its sole discretion, take account-level or transaction-level actions.

Our decision about holds and limitations may be based on confidential criteria that are essential to our management of risk and the protection of PESH, our customers and/or service providers. We may use proprietary fraud and risk modelling when assessing the risk associated with your PESH account. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. We have no obligation to disclose the details of our risk management or security procedures to you.

Holds

A “hold” is an action that PESH may take under certain circumstances either at the transaction level or the account level. When PESH places a temporary hold on a transaction, the money is not available to either the sender or the recipient. PESH reviews many factors before placing a hold on a transaction, including account tenure, transaction activity, and past disputes.

Holds based on PESH’s risk decisions

We may place a hold on transactions involving your PESH account if, in our sole discretion, we believe that there may be a high level of risk associated with you, your PESH account, or your transactions or that placing such a hold is necessary to comply with state or federal regulatory requirements. We make decisions about whether to place a hold based on a number of factors, including information available to us from both internal sources and third parties.

Risk-based holds may remain in place for up to 180 days from the date the transaction was made. We may release the hold earlier under certain circumstances, but any earlier release is at our sole discretion.

Account Limitations

Limitations are implemented to help protect PESH and PESH users when we notice restricted activities or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your PESH account open.

There are several reasons why your PESH account could be limited, including:

  • If we suspect someone could be using your PESH account without your knowledge, we’ll limit it for your protection and look into the unusual activity.

  • If another financial institution alerts us that someone has used one of your linked payment methods without permission.

  • In order to comply with the law.

  • If we reasonably believe you have breached this agreement or violated the Terms and Conditions.

You will need to resolve any issues with your account before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us with that information, we may take action to protect us, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks and any other liability.

Court Orders, Regulatory Requirements or Other Legal Processes

If we are notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we may be required to take certain actions, including holding payments to/from your PESH account, placing a hold or limitation on your PESH account, or releasing your funds. We will decide, in our sole discretion, which action is required of us. We do not have an obligation to contest or appeal any court order or legal process involving you or your PESH account. When we implement a hold or limitation as a result of a court order, applicable law, regulatory requirement or other legal processes, the hold or limitation may remain in place longer than 180 days.

Protection from Unauthorised Transactions

To protect yourself from unauthorised activity in your PESH account, you should regularly log into your PESH account and review your PESH account statement. We will notify you of each transaction by sending an email to your primary email address on file and/or creating a story in your transaction feed and/or in-app notifications, depending on your preferences. You should review these transaction notifications to ensure that each transaction was authorised and accurately completed.

We will protect you from unauthorised activity in your PESH account. The following terms and conditions apply with respect to all PESH services.

What is an Unauthorised Transaction

An “Unauthorised Transaction” occurs when money is sent from your PESH account that you did not authorise and that did not benefit you. For example, if someone steals your password, uses the password to access your PESH account, and sends a payment from your PESH account, an Unauthorised Transaction has occurred.

What is not considered an Unauthorised Transaction

The following are NOT considered Unauthorised Transactions:

  • If you give someone access to your PESH account (by giving them your login information) and they use your PESH account without your knowledge or permission. You are responsible for transactions made in this situation.

  • Invalidation and reversal of a payment as a result of the actions described under Refunds, Reversals and Chargebacks.

Reporting an Unauthorised Transaction

If you believe your PESH login information has been lost or stolen, please contact PESH customer service immediately at support@peshmoney.com

Tell us AT ONCE if you believe that an electronic fund transfer has been made without your permission using your login information or by other means, or if your PESH-activated mobile phone has been lost, stolen, or deactivated. You could lose all the money in your PESH account.

Also, tell us at once if your PESH account statement shows transfers that you did not make, including those made with your PESH login information or by other means.

Filing a chargeback or reversal with your financial institution related to a PESH payment does not constitute notice of an Unauthorised Transaction to us. You must contact us directly to notify us of Unauthorised Transactions by reaching out to PESH customer service.

Reversals of Unauthorised Transactions

PESH will work with you to determine whether the unauthorised transaction can be reversed, either in part or in full. If the transaction is within our direct scope of control, PESH may reverse the transaction either in whole or in part, based on the circumstances. We cannot guarantee the transaction would be reversed in every circumstance, e.g. based on local laws or the recipient bank’s policies once outside of PESH’s direct scope of control.

Error Resolution

What is an “Error”

An “error” means the following:

  • When money is either incorrectly taken from or incorrectly placed into your PESH account

  • When a transaction is incorrectly recorded in your PESH account.

  • A transaction is missing from or not properly identified in your PESH account.

  • An incorrect amount is debited from or credited to your PESH account.

  • We make a computational or mathematical error related to your PESH account.

What is not considered an “Error”

The following are NOT considered errors:

  • If you give someone access to your PESH account (by giving them your login information) and they use your PESH account without your knowledge or permission. You are responsible for transactions made in this situation.

  • Invalidation and reversal of a payment as a result of the actions described under Refunds, Reversals and Chargebacks.

  • You request a receipt or periodic statement documents that we are required to provide to you.

  • Routine inquiries about your PESH balance or the status of a pending transfer to or from your PESH account, unless you expressly notify us of an error in connection with the transfer.

  • Requests for duplicate documentation or other information for tax or other recordkeeping purposes.

In case of errors or questions about your bank transfers

Complaints or concerns about bank transfers must be sent to support@peshmoney.com.

Notify us as soon as you can if you think your bank statement is wrong or if you need more information about a transfer listed on the statement. We must hear from you no later than 60 days after we sent the transfer. Filing a chargeback or reversal with your financial institution related to a PESH payment does not constitute notice of an error to us. You must contact us directly to notify us of errors. When you notify us:

  • Tell us your Name, Username and Phone Number.

  • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.

  • Tell us the date and the dollar amount of the suspected error.

We will determine whether an error occurred within 10 Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 30 days to investigate your complaint or question.

We will tell you the results within 3 Business Days after completing our investigation.

  • If we determine that there was an error, we will promptly reverse the transaction for the full amount of the error into your account within 1 Business Day of our determination.

  • If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Processing Errors

We will rectify any processing error that we discover. If the error results in:

  • You receive less than the correct amount to which you were entitled, then we will credit your PESH account for the difference between what you should have received and what you actually received.

  • You receive more than the correct amount to which you were entitled, then we will debit your PESH account for the difference between what you actually received and what you should have received.

  • Our not completing a transaction on time or in the correct amount, unless:

    • through no fault of ours, you did not have enough available funds to complete the transaction;

    • our system was not working properly and you knew about the breakdown when you started the transaction; or

    • the error was due to extraordinary circumstances outside our control (such as fire, flood or loss of Internet connection), despite our reasonable precautions.

Processing errors are not:

  • Delays that result from us applying holds or limitations.

  • Delays that are based on a payment review or bank transfer review.

  • Delays that result from merchant bank delays, banking holidays or limitations.

  • Your errors in making a transaction (for example, mistyping an amount of money that you are sending).

Communications Between You and Us

If you provide us with your mobile phone number, you agree that we may contact you at that number using auto-dialled or prerecorded message calls or text messages to

  1. service your PESH accounts.

  2. investigate or prevent fraud, or

  3. collect a debt.

We will not use auto-dialled or prerecorded message calls or texts to contact you for marketing purposes unless we receive your prior express written consent. We may share your mobile phone number with service providers with whom we contract to assist us with the activities listed above, but we will not share your mobile phone number with third parties for their own purposes without your consent.

We may communicate with you about your PESH account and the PESH services electronically as described in our Consent to Receive Electronic Disclosures. You will be considered to have received a communication from us, if it’s delivered electronically, 24 hours after the time we post it to our website or email it to you. You will be considered to have received a communication from us if it’s delivered by mail, 3 Business Days after we send it.

You understand and agree that, to the extent permitted by law, we may, with notice or warning, monitor or record telephone conversations you or anyone acting on your behalf has with us or our agents for quality control and training purposes or for our own protection. You acknowledge and understand that while your communications with us may be overheard, monitored, or recorded not all telephone lines or calls may be recorded by us, and we do not guarantee that recordings of any particular telephone calls will be retained or retrievable.

Our Rights

Our suspension and termination rights

We, in our sole discretion, reserve the right to suspend or terminate this user agreement, access to or use of our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf or some or all of the PESH services for any reason and at any time upon notice to you and, upon the termination of this user agreement, the payment to you of any unrestricted money being held for you.

Security interest

As security for the performance of your obligations under this user agreement, you grant us a lien on, and security interest in and to, your PESH account balance and any other funds held in our possession.

Amounts owed to us

We may deduct amounts owed to us, in whole or in part, from money that is sent to your PESH account later, either by you or from payments sent to you. While you owe amounts to us, we may:

  • reverse payments you have sent;

  • engage in the collection and other efforts to recover such amounts from you, including, but not limited to, making attempts on your linked payment methods to cover the amounts; and

  • place a limitation or take other action on your PESH account as outlined under Restricted Activities and Holds.

If you have more than one PESH account, even if you have those accounts without our authorization and in breach of this agreement, we may set off amounts owed to us in one PESH account against a balance in, or money sent to, your other PESH account(s). If you continue using your PESH account when you have amounts owed to us, you authorise us to combine amounts owed to us with any debit or transaction sent from your account.

IF YOU HAVE AMOUNTS PAST DUE, YOU SHOULD CONFIRM THAT YOUR PAYMENT METHODS CONTAIN FUNDS SUFFICIENT TO COVER ANY AMOUNTS PAST DUE. THIS WILL HELP YOU AVOID OVERDRAFTS OR OTHER FEES YOUR FINANCIAL INSTITUTION MAY CHARGE.

Insolvency proceedings

If any proceeding by or against you is commenced under any provision of the Trinidad and Tobago Bankruptcy and Insolvency Act, as amended, or under any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this agreement.

Assumption of rights

If we invalidate and reverse a payment that you made to a recipient (either at your initiative or otherwise), you agree that we assume your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, in our discretion.

No waiver

Our failure to act with respect to a breach of any of your obligations under this user agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.

Indemnification and Limitation of Liability.

Indemnification

You must indemnify PESH for actions related to your PESH account and your use of the PESH services. You agree to defend, indemnify and hold PESH harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of your breach of this user agreement, your improper use of the PESH services, your violation of any law or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your PESH account or access our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf, or any of the PESH services on your behalf.

Limitation of liability

PESH’s liability is limited with respect to your PESH account and your use of the PESH services. In no event shall PESH be liable for lost profits or any special, incidental or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf, any of the PESH services, or this user agreement (however arising, including negligence), unless and to the extent prohibited by law.

Our liability to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, PESH is not liable, and you agree not to hold PESH responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from:

  1. your use of, or your inability to use, our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf, or any of the PESH services;

  2. delays or disruptions in our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf and any of the PESH services;

  3. viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf or any of the PESH services or any website or service linked to our websites, software or any of the PESH services;

  4. glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf or any of the PESH services or in the information and graphics obtained from them;

  5. the content, actions, or inactions of third parties;

  6. a suspension or other action taken with respect to your PESH account; or

  7. your need to modify your practices, content, or behaviour, or your loss of or inability to do business, as a result of changes to this user agreement or our policies.

Disclaimer of Warranty and Release

No warranty

The PESH services are provided “as-is” and without any representation or warranty, whether express, implied or statutory. We specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement.

We do not guarantee continuous, uninterrupted or secure access to any part of the PESH services, and operation of our websites, software, or systems (including any networks and servers used to provide any of the PESH services) operated by us or on our behalf may be interfered with by numerous factors outside of our control. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts are processed in a timely manner but we make no representations or warranties regarding the amount of time needed to complete processing because the PESH services are dependent upon many factors outside of our control, such as delays in the Trinidad and Tobago banking system.

Your Release of Us

If you have a dispute with any other PESH account holder, you release us from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release you expressly waive any protections (whether statutory or otherwise), that would otherwise limit the coverage of this release to include only those claims that you may know or suspect to exist in your favour at the time of agreeing to this release.

Agreement to Arbitrate

If a dispute arises between you and PESH regarding the PESH services or otherwise, our goal is to learn about and address your concerns. If we are unable to do so to your satisfaction, we aim to provide you with a neutral and cost-effective means of resolving the dispute quickly. Disputes between you and PESH regarding the PESH services may be reported to customer service online through the PESH Help Center at any time, or by emailing support@peshmoney.com.

ANY CLAIMS ARISING OUT OF, RELATING TO, OR CONNECTED WITH THIS USER AGREEMENT MUST BE ASSERTED INDIVIDUALLY IN BINDING ARBITRATION CONDUCTED BY A SINGLE ARBITRATOR WITH EXPERIENCE IN CONSUMER ONLINE PAYMENT SERVICES DISPUTES. The forum for arbitration shall be at the Law Association of Trinidad and Tobago, located on the 2nd Floor, #95-97 Frederick Street, Port of Spain. The arbitrator shall not conduct any form of class or collective arbitration nor join or consolidate claims by or for individuals. To the extent allowed by applicable law, the Arbitrator, and not any local court or agency, shall have exclusive authority to resolve any dispute relating to the interpretation, applicability, enforceability or formation of this user agreement including, but not limited to, any claim that all or any part of this user agreement is void or voidable. Judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction. For any non-frivolous claim, PESH will pay the costs of the arbitration (but not your attorney fees), up to TTD $3,000.

This user agreement and each of its parts evidence a transaction involving interstate commerce, and Trinidad and Tobago Arbitration Act shall apply in all cases and govern the interpretation and enforcement of the arbitration rules and arbitration proceedings. There are only two exceptions to this agreement to arbitrate. First, if we reasonably believe that you have in any manner violated or threatened to violate our intellectual property rights, we may seek injunctive or other appropriate relief in any court of competent jurisdiction. Second, any claim of TTD $500 or less may, at the option of the claiming party, be resolved in small claims court.

Waiver of Right to Jury; Class Action Waiver

TO THE EXTENT ALLOWED BY LAW, YOU AGREE TO IRREVOCABLY WAIVE ANY RIGHT YOU MAY HAVE TO A TRIAL BY JURY OR OTHER COURT TRIAL (OTHER THAN SMALL CLAIMS COURT) OR TO SERVE AS A REPRESENTATIVE, AS A PRIVATE ATTORNEY GENERAL, OR IN ANY OTHER REPRESENTATIVE CAPACITY, OR TO PARTICIPATE AS A MEMBER OF A CLASS OF CLAIMANTS, IN ANY LAWSUIT, ARBITRATION OR OTHER PROCEEDING FILED AGAINST US AND/OR RELATED THIRD PARTIES.

Intellectual Property

Our trademarks

"peshmoney.com", "PESH", “Pesh Money Limited”, and all logos related to the PESH services are either trademarks or registered trademarks of Pesh Money Limited. You may not copy, imitate, modify or use them without our prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of PESH Limited. You may not copy, imitate, modify or use them without our prior written consent. You may use HTML logos provided by us for the purpose of directing web traffic to the PESH services. You may not alter, modify or change these HTML logos in any way, use them in a manner that mischaracterizes PESH or the PESH services or display them in any manner that implies PESH Limited’s sponsorship or endorsement. All right, title and interest in and to the PESH websites, any content thereon, the PESH services, the technology related to the PESH services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of PESH and its licensors.

License grants, generally

If you are using our software such as an API, developer’s toolkit or other software application, which may include software provided by or integrated with software, systems or services of our service providers, that you have downloaded or otherwise accessed through a web or mobile platform, then PESH grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use our software in accordance with the documentation accompanying such software. This license grant applies to the software and all updates, upgrades, new versions and replacement software. You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation, access and use requirements contained in all documentation accompanying the PESH services. If you do not comply with implementation, access and use requirements you will be liable for all resulting damages suffered by you, us and third parties. We may update or discontinue any software upon notice to you. While we may have (1) integrated certain third party materials and technology into any web or other application, including its software, and/or (2) accessed and used certain third party materials and technology to facilitate providing you with the PESH services, you have not been granted and do not otherwise retain any rights in or to any such third party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software or any third-party materials or technology, or otherwise create any derivative works from any of the software or third party materials or technology. You acknowledge that all rights, titles and interests to our software are owned by PESH and any third-party materials integrated therein are owned by our third-party service providers. Any other third-party software application you use on the PESH websites is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that PESH does not own, control nor have any responsibility or liability for any such third-party software application you elect to use on any of our websites, software and/or in connection with the PESH services.

License grant from you to PESH Limited; intellectual property warranties

We do not claim ownership of the content that you provide, upload, submit or send to us. When you provide content to us or post content using PESH services, you grant us (and parties that we work with) a non-exclusive, irrevocable, royalty-free, transferable, and worldwide license to use your content and associated intellectual property and publicity rights to help us improve, operate and promote our current services and develop new ones. We will not compensate you for any of your content. You acknowledge that our use of your content will not infringe any intellectual property or publicity rights. Further, you acknowledge and warrant that you own or otherwise control all of the rights of the content you provide, and you agree to waive your moral rights and promise not to assert such rights against us.

Miscellaneous

Assignment

You may not transfer or assign any rights or obligations you have under this user agreement without our prior written consent. We may transfer or assign this user agreement or any right or obligation under this user agreement at any time.

Business Days

“Business Day(s)” means Monday through Friday, excluding holidays when PESH’s offices are not considered open for business in Trinidad and Tobago. Holidays include all Trinidad and Tobago public holidays, days of observation and banking holidays.

Consumer fraud warning

We’re always looking for ways to help keep you even more secure. So stay on the lookout for some of these common scams:

  • Seller Scam: a scammer sends you a fraudulent payment for goods or services you provide outside of PESH.

  • Accidental Payment: a scammer sends you a fraudulent payment, claims it was accidental, and asks that you return their money.

Always use common sense when sending money. If something sounds too good to be true, it probably is. Only send money for yourself and not for others. Remember that you are not covered by PESH and our ability to refund you is limited. Please let us know immediately if you believe someone is trying to scam or defraud you by contacting us at support@peshmoney.com.

Governing law

You agree that the laws of Trinidad and Tobago will govern this user agreement and any claim or dispute that has arisen or may arise between you and PESH regarding your use of the PESH services.

Identity Authentication

You authorise us, directly or through third parties, to make any inquiries we consider necessary to verify your identity. This may include:

  • asking you for further information, such as your date of birth, your physical address and other information that will allow us to reasonably identify you;

  • requiring you to take steps to confirm ownership of your email address, phone number or financial instruments;

  • If you need to submit additional information about your name and/or date of birth, the following unexpired documents will work:

    • Passport

    • Driver Permit

    • National Identification

Anti-money laundering and counter-terrorism financing laws may require that we verify the required identifying information if you use certain PESH services. We reserve the right to close, suspend, or limit access to your PESH account and/or the PESH services in the event that, after reasonable enquiries, we are unable to obtain information about you required to verify your identity.

PESH is only a payment service provider

We act as a payment service provider only. We do not:

  • Act as an escrow agent with respect to any money sent to you on PESH that has not been transferred;

  • Act as your agent or trustee;

  • Enter into a partnership, joint venture, agency or employment relationship with you;

  • Guarantee the identity of any user or seller;

  • Determine if you are liable for any taxes; or

  • Unless otherwise expressly set out in this agreement, collect or pay any taxes that may arise from your use of our services.

Privacy

Protecting your privacy is very important to us. Please review our Privacy Policy in order to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information.

Third-party providers

The PESH app works on an application linked to a particular device and operating system, such as Apple’s iOS operating system. Your use of the PESH services may be subject to separate agreements you may enter into with your mobile device operating system provider (e.g., Apple or Google), your mobile device manufacturer (e.g., Apple, Samsung), your mobile service carrier (e.g., Digicel or bmobile), and other parties involved in providing your mobile device service, which we collectively refer to as “Covered Third Parties.” You agree to comply with all applicable third-party terms of agreement when using the PESH Services. We are not a party to those agreements and we have no responsibility for the products and services provided by third parties. You acknowledge and agree that this agreement is between you and PESH, not with any Covered Third Party. You acknowledge and agree that we are solely responsible for the PESH services and for providing maintenance and support services for the PESH services.

Covered Third Parties have no warranty obligations whatsoever with respect to the PESH Services and any other claims, losses, liabilities, damages, costs or expenses attributable to any failure of the PESH services to conform to any warranty provided by us, if any, will be our sole responsibility.

We, not any Covered Third Parties, are responsible for addressing any claims relating to the PESH services, including, but not limited to: (i) product liability claims; (ii) any claim that the PESH Services fail to conform to any applicable legal or regulatory requirement; (iii) claims arising under consumer protection, privacy, or similar legislation; and (iv) intellectual property claims.

Your use of information

If you receive information about another PESH customer, you must keep the information confidential and only use it in connection with the PESH services. You may not disclose or distribute any information about PESH users to a third party or use the information for marketing purposes unless you receive that user’s express consent to do so. You may not send unsolicited emails to a PESH customer or use the PESH services to collect payments for sending, or assist in sending, unsolicited emails to third parties.

The privacy and data protection laws that may apply include any associated regulations, regulatory requirements and codes of practice applicable to the provision of the services described in this agreement.

In complying with such laws, you will:

  • implement and maintain all appropriate security measures for the processing of personal data; and

  • not knowingly do anything or permit anything to be done which might lead to a breach of any privacy data protection laws by us.