Please read these Terms of Service carefully before using any services provided by Global Currency Exchange Limited. By accessing or using our services, you agree to be bound by these Terms. If you do not agree to these Terms, please do not use our services.
1. Acceptance of Terms
By accessing or using any services provided by Global Currency Exchange Limited ("GCE", "we", "us", "our"), you agree to be bound by these Terms of Service ("Terms"). These Terms constitute a legally binding agreement between you and GCE and apply to all services accessed through the GCE platform, API or any other channel.
We reserve the right to amend these Terms at any time. Revised Terms will be published on this page with an updated effective date. Continued use of our services following any amendment constitutes your acceptance of the revised Terms. Material changes will be communicated in advance via email or platform notification.
2. Services Description
GCE provides cross-border payment infrastructure services including multi-currency accounts, payment acquiring, FX conversion and card issuance, exclusively in fiat currencies. GCE holds a Money Service Operator (MSO) licence issued by the Hong Kong Customs & Excise Department under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) ("AMLO").
GCE's services do not include: (a) acceptance of deposits; (b) provision of loans or credit; (c) any virtual asset, cryptocurrency or stablecoin-related services; or (d) investment advice or asset management. GCE is not a licensed bank and is not regulated under the Banking Ordinance (Cap. 155).
3. Client Eligibility
Services are available to businesses and corporations only. Individual consumer accounts are not offered. Entities applying to use GCE services must:
- Be a lawfully incorporated legal entity (company, partnership or other commercial entity);
- Be incorporated and operating in a lawful jurisdiction;
- Successfully complete GCE's Know Your Business (KYB) verification process;
- Not be subject to any applicable sanctions lists (including OFAC, EU, UN and Hong Kong sanctions); and
- Intend to use GCE services for lawful business purposes.
GCE reserves the right to decline any application or terminate any client account at any time without obligation to provide reasons.
4. Account Opening & KYB
Applicants must provide all documents and information reasonably required by GCE to complete the KYB verification process. Required documentation typically includes, but is not limited to:
- Corporate registration documents (including articles of association, certificate of incorporation and register of members);
- Proof of business address (dated within three months);
- Valid identity documents for all directors and ultimate beneficial owners (UBOs);
- Source of funds and source of wealth documentation;
- Description of business activities, target markets and expected transaction patterns; and
- Such other documents as may be reasonably required by regulators or GCE's compliance team.
GCE will conduct ongoing review of client relationships after account opening and may at any time request updated information and documentation.
5. Permitted Use & Restrictions
GCE services may only be used for the following lawful purposes:
- Cross-border payments within fiat currency rails;
- Corporate treasury and cash management operations;
- Card-based corporate expense management; and
- FX conversion directly related to the foregoing activities.
The following uses are strictly prohibited:
- Any purchase, sale, conversion or transfer of virtual assets, cryptocurrencies, stablecoins or digital tokens;
- Transactions in violation of any applicable law, regulation or sanctions regime;
- Money laundering, terrorist financing or any other financial crime;
- Gambling or any form of unlawful activity;
- Providing false or misleading information to GCE; and
- Unauthorised access to GCE systems or platform.
6. Fees & Charges
All applicable fees are disclosed to clients prior to account opening and are set out in the relevant fee schedule. Fees may include account maintenance fees, transaction fees, FX conversion spreads, card issuance fees and wire transfer charges.
GCE reserves the right to amend fees with thirty (30) days' written notice. If a client does not accept revised fees, the client may terminate its account during the notice period without incurring termination charges.
GCE may deduct applicable fees directly from client account balances. Clients are responsible for ensuring sufficient funds are maintained to cover all applicable charges.
7. Fund Segregation
Client funds are held in segregated custodian accounts, separate from GCE's operating capital. GCE does not use client funds for its own operating or investment purposes.
GCE is not a bank and client balances are not covered by the Deposit Protection Scheme Ordinance (Cap. 581) or any deposit protection scheme. Clients should assess the risks associated with GCE services and refer to our Risk Disclosure Statement.
8. Intellectual Property
All technology, trademarks, trade names, software, content and other intellectual property on the GCE platform remain the exclusive property of GCE. No such content may be reproduced, modified, distributed or otherwise used without GCE's prior written consent.
GCE grants clients a limited, non-exclusive, non-transferable licence to access and use the GCE API and platform solely for the client's own lawful business purposes within the scope of these Terms. This licence does not include the right to sublicense, resell or commercially exploit the platform or API to third parties.
9. Limitation of Liability
To the maximum extent permitted by law, GCE's total liability to any client, whether in contract, tort, statute or otherwise, shall not exceed the total fees paid by that client to GCE in the twelve (12) months preceding the event giving rise to the claim.
In no event shall GCE be liable for any indirect, incidental, special, consequential or punitive damages, including but not limited to loss of profits, loss of revenue, loss of data or loss of goodwill, even if GCE has been advised of the possibility of such damages.
GCE shall not be liable for losses arising from force majeure events, acts or omissions of correspondent banks or payment network partners, regulatory action, government directives, internet or telecommunications outages, or other events beyond GCE's reasonable control.
10. Termination
Either party may terminate the client relationship with thirty (30) days' written notice. Under normal circumstances, GCE will assist clients in withdrawing account balances and completing pending transactions prior to the termination date.
GCE may immediately terminate a client account without notice in cases of: (a) breach of these Terms by the client; (b) regulatory direction; (c) detection of suspicious activity; (d) client insolvency; or (e) court order.
Upon termination, provisions of these Terms that by their nature should survive will continue to apply, including provisions relating to intellectual property, limitation of liability, indemnification and governing law.
11. Governing Law
These Terms are governed by and construed in accordance with the laws of Hong Kong SAR. All disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Hong Kong.
GCE reserves the right to seek equitable relief of any nature (including injunctive relief) in the courts of Hong Kong or any agreed arbitral tribunal.
12. Contact
For queries regarding these Terms of Service, please contact us at:
- Email: legal@gce.hk
- Post: Global Currency Exchange Limited, Hong Kong SAR