Terms and Conditions

Please read and understand our terms & conditions carefully before you accept them. They contain important information about our obligation to you, and limitations on liability if you suffer loss as result of using our money transfer services.

You may request a copy of these terms by contacting us on: Telephone: +443330113325 or by post: Money Ocean, 7 Whitmore Road, Small Heath Birmingham B10 0NR

  1. This agreement is between the Customer (hereinafter referred to as, Customer”, “you” or, your”) and Money Ocean (hereinafter referred to either, as ‘we”, “us”, “our”, or ” as the case may be). Money Ocean is the trading name for Number one choice Ltd who’s registered in England & Wales under registration number 12291771, registered address situated at: 7 Whitmore Road, Small Heath Birmingham B10 0NR, United Kingdom.

  1. Our agreement with you is that we will take reasonable care to provide the money transfer service, As such. we agree to provide you with the money transfer services including person to bank transfers and. person to person transfers.

2.1 You must accept our terms and conditions before using our service and you must be 18 years or over. 

2.2 To use the service, you must register into Money Ocean online service, we will ask for your login details and input of your personal information such as your full name, date of birth and residential address including postcode. It is your responsibility to keep your login details safe. Money Ocean will not be liable / responsible if your Money Ocean login details s are used by someone else.

2.3 You may be required to provide valid identification and proof of address where applicable. We required by law to collect identifications as required under FCA regulations and Money laundering and terrorist financing (amendment) regulations 2019. Identifications may be verified by third party to ensure identifications validation. Furthermore, MONEY OCEAN may also require you to provide supplementary documentations and or further information to complete the process of your money transfer. 

2.4 Once you have registered into Money Ocean online system, a unique reference number will be generated automatically. Your reference number will contain confidential information about your personal information. It is your responsibility to keep it safe and not to be disclosed to anyone else.

2.5 When you are registered with Money Ocean, you must ensure your reference/account number cannot be used by someone else unless a written consent from you is approved by our company to conduct payment transactions on your behalf.

2.6 Your personal information and transaction history will be retained for up to 6 years.

2.7 Money Ocean does not store, process or transmit any cardholder data onto our merchant systems or premises but relies entirely on third party service provider to handle these functions.

  1. If you contacted us by phone, e mailed Money Ocean or visited our branches and you accepted our offer to carry out a transaction, this shall constitute acceptance of the Terms & Conditions set out herein, and as amended from time to time.

3.1 You will be required to provide valid ID and Proof of address regardless of the amount of the transaction you conduct. 

3.2 You will be required to provide acceptable proof of source of fund document when conducting transactions that requires proof of source of fund, the types of transaction that requires proof of source of fund varies from time to time and depends on the transaction size and transaction circumstances.  your proof of source of fund must meet the acceptable proof of source of fund by Money Ocean, you will need to contact us for acceptable proof of source of funds document types.

We may ask you to provide proof of source of fund for any amount when ever see this is necessary.

3.3 Where the transaction amount exceeds 3,000.00 GBP, or the equivalence, clause 2.3 will apply. You may not use our online service and you will be required to contact our offices to complete your transaction. 

3.4 Pay-out of transfers is usually within minutes’ subject to agent hour of operation in the receiving destination. 

3.5 Pay-out transactions will be paid to beneficiary in local currency of the receiving destination or United State Dollar.

  1. MONEY OCEAN is free to use Service/s of intermediary banks/financial Service institutions/other money service businesses in any country of its choice for execution of money transfer.
  2. Money Transfer Service fees (Transfer Fees) shall be charged from the Customer for each transfer made by the Customer. Transfer Fees to each location and for each currency may vary. Transfer Fees may change from time to time and without notice. Intermediary/ correspondent /collection charges as applicable in some countries will be deducted at paying end.
  3. We may, in our sole discretion, refuse any Transaction or limit the amount to be transferred. These limits imposed are done at our sole discretion and may be changed from time to time. We may also refuse to send money or allow to be paid at the destination or receiving end if we believe that:

by doing so we might break any law.  regulation, code or other duty and responsibility that applies to us.

by doing so may expose us to action from any government or regulator; or

it may be linked with fraudulent or illegal activity.

  1. Unless the law prevents, us, we may (at our sole discretion) inform the Customer reasons for our refusal and how Customer can rectify any errors in money transfer instructions given.

  1. We act only as a money transmitter and accept no responsibility or liability arising from transactions between the sender and any third parties. (We accept no responsibility or liability for any goods or services including quality and delivery of them, which are paid for by money transfer). You are cautioned to sending money to any person whom you do not know
  2. We have no obligation to you to initiate or perform a Money Transfer Service if;
  • we are unable to obtain satisfactory evidence of your identity:
  • we have reason to believe that the details provided by you is incomplete. Incorrect, unauthorized, or forged:
  • We are unable to obtain payment (i.e. the amount to be transferred plus the applicable fees) for the transaction from you: and we do not accept any liability for damages resulting from non-payment or delay in payment of a money transfer to a recipient or to perform a transaction because of any of these matters.

  1. Customer should not disclose the reference number, value of transfer or other information about the transfer to any other person other than the intended recipient
  2. In case of bank transfer. we will transfer money to the beneficiary’s bank account specified by the Customer. If the account is in the EEA. the bank holding the account will receive the money within four business working days (Monday to Friday. excluding   public   holidays) from the date of processing   of the transfer. Banking practice may vary if it is outside the EEA and for more information on when payment will be credited   to such an account.  the customer need to contact the recipient bank. The recipient bank may apply its own charges which do not involve us.

  1. If we are unable to complete your Transaction within reasonable period as applicable in the circumstances, you will be entitled to a refund of the transfer amount of your Transaction and your transfer fee unless we can show that the bank or the payout location received the money or that there was a mistake in the recipient’s details provided to us by you. In case of refunds. we will promptly refund the transfer amount and the transfer fee.

  1. In no event shall we be liable for damage, for delay. non-delivery. non-payment. under-payment, or without limitation any other event relating to your Transaction, whether due to the fault. error or omission on our part. for more than the principal amount of your Transaction and the Transfer Fee.

  1. In no circumstances shall we be responsible for any losses or damages which are not foreseeable consequences of a breach of these terms and conditions or if money ocean is unable to complete Transactions either within a reasonable time or at any time.

I 7.  We do not accept the responsibility if Money Ocean is unable to perform your instructions as a result of circumstances which could reasonably be outside our reasonable control.

  1. You must inform us immediately if you think that a transfer was, not made properly or never arrived. We will not refund the money to you if there is undue delay in informing us of the problem and in any event if not informed within 13 months from the date of sending the money.

  1. We will not be liable to the Customer for any incidental. Indirect, special or consequential losses or costs or damages or for business losses (such as loss to business profits or opportunities) suffered by the Customer.

  1. Customer do not have right to cancel the transfer once the transaction is processed. Nevertheless, if requested   by the Customer, we may at our sole discretion, cancel the transfer before it is paid out to the intended   recipient.  If Customer wishes   to cancel a money transfer

and request a refund of the transfer amount, the Customer must request us in writing stating the reasons for cancellation.

21.It is understood by the   Customer that all such cancellation request shall be subject to the rules governing cancellations (including cancellation charges) of the intermediary banks/financial service institutions/other money service businesses who makes the payout to the intended recipient.

  1. Amount of refund upon cancellation will be after deducting our cancellation charge, and cancellation or back end charges of correspondent bank / financial institution /intermediary.
  3. The money transfer will be subject to laws related to monetary transaction in the United Kingdom/intermediary/Destination countries and may be blocked I frozen in case found suspicious. The Customer and the recipient will be fully responsible to provide necessary evidence /clarification to prove legality of entities I funds.

  1. Applicable laws prohibit money transmitters from conducting business with certain individuals and countries. In order to comply MONEY OCEAN, required to screen all transfers against a list of names, provided by various governments and none government agencies.  if a potential match is found.  we will suspend the transfer and request additional information on either the sender or receiver, as necessary.

  1. We will not be liable if we break this agreement because of abnormal   and unforeseeable circumstances outside our control where we could not avoid breaking this agreement despite all efforts to the contrary   which may include.  for example, strikes, industrial action, problems   with   another   system or network, Mechanical breakdown, data    processing    money ocean users.   English    or   European    Community    Law, government or none government agency policy or another Force Majeure including, without limitation, Act of God. strikes, industrial action equipment or interruption of power supplies, provided that MONEY OCEAN shall endeavor to give notice to its customers of any anticipated delay, by notice in its branches.

  1. We will report money transfers to any government authorities if we are required to do so by law.

  1. You expressly understand and agree that the service is provided on an as-is” and “as available” basis. MONEY OCEAN expressly disclaim all warranties of any kind, whether express or implied. including but not limited to the implied warranties of merchantability, fitness for a purpose and non-infringement.

MONEY OCEAN make no warranty that: –

The service will meet your requirement.

The service will be uninterrupted, timely, secure   or error-free.

The results that may be obtained from the use of the service, will be accurate   or reliable.

The quality of any products, services, information, or other material obtained by you through the service will meet your expectations, and

the use of the service is done at your own discretion and risk and

No advice, or information, whether oral or written, obtained by you from MONEY OCEAN or through or from the service shall create any warranty not expressly stated in this agreement.

  1. English law applies to this agreement and we will communicate with Customer in English. The court of London shall have exclusive jurisdiction on all matters related to the Service and this agreement.

  1. The customer understands and consents that the personal information of the customer and recipient, and the transaction may be stored in our database, and shared with other companies and other intermediaries located within or outside the EEA in the course of processing the transaction. Customer must have recipient’s consent to share his/ her personal information with us, Further, we may use customer and recipient details to provide information on our products & services and future marketing promotion.

30.Customer may   request   access   to   his/her personal information.    ask   for the information to be corrected    or updated   or, for legitimate reasons, oppose   it, processing. By writing to us.

  1. We maintain records of your transaction history to the extent required under applicable law, Record, will be updated on a continuing basis as Transaction are made and received and will be kept of a minimum of five years.

  1. We are committed to provide Customer with best service at all times. In the unlikely event that the customer is dissatisfied with our service, please write to  us addressed to Complaints Officer, Money Ocean , 7 Whitmore Road, Small Heath Birmingham B10 0NR. Tel: +443330113325 and or email us at complaints Money Ocean .co.uk.

  1. We will deal with Customer complaint promptly and fairly, in case we need more time to resolve the complaint, we will send an acknowledgement to the Customer within 5 working days and send a final response within 8 weeks of receipt   of complaint.  If Customer do not receive our final  response  after 8 weeks or  unhappy  with  our  final  response,   the customer can write to  The   Financial   Ombudsman Service, South Quay Plaza, 183 March Wall, London E14 9SR. Phone: 0845 080 1800, web: www.financial-ombudsman.org.uk;

E-mail: complaint.info@financial-ombudsman.org.uk within six months from the date of final response.

34 We are also agent/ clients of other money transfer service providers and making available these services, to customers as their agents/ Clients under their business terms and conditions. If a Customer avails service of those companies through us, the terms and conditions of those companies shall also be applicable for the transfer. Please ask our staff at the branch for details

  1. You agree to indemnify and hold us and our respective affiliate, subsidiaries, officers, agents, co-branded, and other partners, directors. and employee, harmless from any claim or demand. including reasonable lawyers and legal fee, made by any third party due to or arising out of your use of this service, your connection to the Service, your violation of the terms of this agreement, or your, violation of any rights of another.

  1. Nothing contained in this Agreement is intended to confer nor shall confer upon any person, other than the parties hereto, any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement or any benefits or remedies, of any kind or character whatsoever, and no such person shall be deemed a third-party beneficiary under or because of this Agreement.