Terms of Service for users
Eligibility and Limitations
By registering to use an Instamo Account, you have affirmed that you are at least 18 years old and are an individual, legal person or other organization with full legal capacity to enter into this User Agreement between you and Instamo. If you are not, you and your guardian shall undertake all consequences resulting from your actions and Instamo shall have the right to cancel or freeze your account in addition to filing claims against you and your guardian for compensation.
You must have authority to bind your business. If you are not a consumer, you confirm that you have authority to bind any business or entity on whose behalf you use our Services, and that business or entity accepts these terms.
Who are Instamo? How to contact us?
Instamo is an open banking payment infrastructure to advance the automatic end to end process of information flow. You can contact us by email at email@example.com
Instamo which is Hawking Pte Ltd- Singapore Company Registration: 201831606R, Address: 1 North Bridge Road, #07-05 Singapore 179094
Getting to know you
Instamo is required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction for example, your recipient) in order to provide any Services to you. You agree to comply with any request from us for further information and provide such information in a format acceptable to us. In addition, you agree that Instamo may make, directly or through any third party, any inquiries Instamo considers necessary to validate the information you provided to us, including checking commercial databases or credit reports. You authorise us to obtain one or more of your credit reports, from time to time, to establish, update, or renew your Instamo Account with us or in the event of a dispute relating to this Agreement and activity under your Instamo Account.
Prohibition of use
Instamo maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. Instamo maintains its stance that prohibited users are not to use or access Instamo and any of its services.
Your use of the Instamo Account must not violate any applicable laws. You commit to us and our partners that your opening and/or using an Instamo Account does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section
Registration Process and Identity Verification
You may register only one (1) Instamo Account. If you open additional accounts, Instamo reserves the right to immediately close such additional accounts and transfer any balance to your other Instamo Account or return it to the original funding source.
When registering for your Instamo Account, you must provide current, complete, and accurate information for all required elements on the registration page, including your full legal name. If any of this information changes, it is your obligation to update such information as soon as possible. From time to time Instamo may also require you to provide further information as a condition for continued use of the Services, including but not limited to a copy of your government issued photo ID. If you wish to link a bank account or debit card to your Instamo Account, you authorize Instamo, directly or through third parties, to make any inquiries Instamo deem necessary to validate your identity and account information. This may include requesting further information about you such as your date of birth, email address, physical address, social security number, and bank account or card information so that Instamo can confirm your identity. Instamo reserves the right to maintain your account registration information after you close your account for business and regulatory compliance purposes.
From time to time Instamo may be required to request further information regarding your transactions in order to comply with federal and state law. Failure to provide such information in a timely fashion may result in the suspension of your ability to transact until you provide such information or the closure of your Instamo Account.
Account Usage Requirements
Instamo accounts can only be used by the person whose name they are registered under. Instamo reserves the right to suspend, freeze or cancel accounts that are used by persons other than the persons whose names they are registered under. Accordingly, Instamo will not take legal responsibility for these accounts.
Instamo has implemented industry standard protections for our platform. With that said, there are account-level risks that are created by individual user actions. Instamo requests that you understand the need to independently take safety precautions to protect your own account and personal information.
You shall be solely responsible for the safekeeping of your Instamo account and password on your own, and you shall be responsible for all activities under your log-in email, Instamo account and password (including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.).
You hereby agree that:
(a) you will notify Instamo immediately if you are aware of any unauthorized use of your Instamo account and password by any person or any other violations to the security rules;
(b) you will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service; and
(c) you will log out from the website by taking proper steps at the end of every visit.
Instamo will not be responsible for any loss or consequences caused by your failure to comply with the above Account Security provision.
Instamo reserves the right to resolve issues and disputes at its sole discretion. Some issues include infringement of others’ rights, violation of laws and regulations, abnormal trades and others not explicitly mentioned in the Terms. Users agree to bear the costs arising from the process of dispute resolution.
Usage of services
You hereby agree to observe the following covenants during your use of services on Instamo:
● all the activities that you carry out during the use of Instamo Service will be in compliance with the requirements of applicable laws, regulations, as well as the various guidelines of Instamo,
● will not be in violation of public interests, public ethics or other’s legitimate interests,
● using a device, software or subroutine to interfere with the site,
● overloading network equipment with unreasonable data loading requests,
● executing malicious sales or purchases on the market,
By accessing the Instamo Service, you agree that Instamo shall have the right to unilaterally determine whether you have violated any of the above covenants and take actions to apply relevant rules without receiving your consent or giving prior notice to you. Examples of such actions include, but are not limited to
● block and close order requests
● freezing your account
● reporting the incident to authorities
● publishing the alleged violations and actions that have been taken
● deleting any information you published that is in violation
If your alleged violation causes any losses to a third party, you shall solely undertake all the legal liabilities in your own name and hold Instamo harmless from any loss, fine or extra expenses. If, due to any alleged violation Instamo incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify Instamo against any losses and expense caused thereby, including reasonable attorney’s fee.
Limitation of Liability
Instamo will provide Instamo Service at an “as is” and “commercially available” condition, and does not offer any form of warranty with regards to the Service’s reliability, stability, accuracy and completeness of the technology involved.
You acknowledge and agree, Instamo shall not be liable for any of your losses caused by any of the following events, including but not limited to:
● Losses of profits, goodwill, usage or data or any other intangible losses
● Use or failure to use Instamo Service
● Unauthorized use of your account or unauthorized alteration of your data by third parties
● Your misunderstanding of Instamo Service
● Any other losses related to Instamo Service which are not directly attributable to Instamo
In no event shall Instamo be liable for any failure or delay of service resulting from regular network maintenance or external factors such as power failure, natural disaster, service provider-side problems or governmental acts.
Account Suspension and Closure
Instamo may, in our sole and absolute discretion, without liability to you or any third party, refuse to let you open an account, suspend your account, or terminate your account or your use of one or more of the Services. Such actions may be taken as a result of account inactivity, failure to respond to customer support requests, failure to positively identify you or your violation of the terms of this Agreement. If you have a balance remaining in an Instamo Account which has been suspended or closed, you will be able to recover such funds, unless prohibited by law or a court order or where Instamo have determined that such funds Instamore obtained fraudulently. Instamo shall have full discretion as to the means by which you will receive such funds following our decision to return such funds. Instamo reserve the right to require you to provide further identifying information before processing such withdrawal or transfer requests and to delay or prohibit such withdrawal or transfer if Instamo believes fraudulent or illegal activity has occurred. If you are unable to login to your Instamo Account, you will need to contact Support to process such withdrawal.
You may terminate this Agreement at any time by closing your Instamo Account and discontinuing use of the Services. Upon termination of this Agreement and your Instamo Account, you remain liable for all transactions made while your Instamo Account was open.
Services and Third Parties
Instamo services aim to provide you a platform for purposes of (i) depositing funds from a linked bank account debit card or credit card (if available), (ii) sending and receiving fiat currency with other Instamo users, and (iii) sending and receiving currencies; provided that any of these Services can be discontinued at any time in accordance with the Section “Account Suspension & & Closure”.
Fees and Authorization
Instamo reserves the rights to levy service fees on users who use its services. It is in the discretion of Instamo to adjust the service fees charged to users using its services.
You agree to indemnify and hold harmless Instamo, its affiliates, contractors, licensors, and their respective directors, officers, employees, anchors and agents from and against any claims and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of your breach or our enforcement of this Agreement. This shall also apply to your violation of any applicable law, regulation, or rights of any third party during your use of the Instamo Service.
Keep your Account safe
(i) What to do. You must:
(a) Change your password regularly and ensure that it isn’t reused across other online accounts.
(b) Contact firstname.lastname@example.org anyone asks for your password.
(c) Keep your e-mail account secure. You may reset your Account password using your email address. Let email@example.com immediately if your email address becomes compromised.
(ii) What NOT to do. You must NOT:
(a) Disclose your Account password or your customer reference number. Keep them safe.
(b) Let anyone access your Account or watch you accessing it.
(c) Use any functionality that allows your login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded.
Chargebacks on your payment instrument. If you selected a Payin Method which gives you chargeback rights (for example in relation to your credit card, you may ask your card provider to reverse a transaction on your card), you promise that you will only exercise this chargeback right if:
(a) Instamo has breached this Agreement; or
(b) there was an unauthorised use of your payment instrument.
You promise that you will not exercise your chargeback right for reasons which Instamo is not responsible, including a dispute with your recipient or if there are insufficient funds in your payment instrument. If Instamo needs to investigate or take any actions in connection with a chargeback raised by you, Instamo may charge you for our costs in doing so and may deduct such amount from your Account.
Payment order limits
Instamo may place limits on the amount you may send per transfer. For more information on the applicable limits
You need to provide us with sufficient funds before Instamo can process your payment order. Instamo will only process your payment order if our Instamo partners have received sufficient funds. It is your responsibility to fund your payment order in a timely manner. Instamo cannot be responsible for the time it takes for the money to be sent to our Instamo partners by your bank or payment service provider.
Verification checks may increase the time for processing your payment order. Instamo and our Instamo partners carry out verification checks, and these checks may increase the time it takes to process your payment order. Instamo and the Instamo partners cannot be responsible for any delays as a result of carrying out those checks.
Completion time of your payment order. The estimated completion time of your payment order is notified to you when you complete the transfer.
Instamo and Our Instamo partner will use reasonable efforts to ensure funds arrive at your recipient’s account within the notified timeframe. Instamo and our Instamo partners will use reasonable efforts to ensure that the funds arrive in the recipient’s bank account or payment account within the timelines notified to you. Instamo and Instamo partners do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient.
Refusal of your payment order. If Instamo and our Instamo partners are unable to complete your payment order, Instamo will let you know and, if possible, the reasons for the refusal and an explanation of how to correct any factual errors. However, Instamo is not required to notify you if such notification would be unlawful.
You must ensure the information you provide to us is correct. You must make sure that the information you provide when setting up a payment order is accurate. If Instamo has processed your order in accordance with the information you have provided to us it will be considered correctly completed even if you have made a mistake.
What happens if you provide us with incorrect information. If you provide incorrect information with your payment order, Instamo will use reasonable efforts to recover the funds for you, and may need to charge you a fee for that.
Payin and Payout Methods are not part of our Services. Payin and Payout Methods are not part of our Services, they are services provided by third parties for example the bank where you hold your bank account. For the purposes of a payin and payout transaction, Instamo is open infrastructure to streamline your information flow with the financial institutions or banks, or Instamo operators to assist you with international transfer.
How much will you pay?
You must pay the fees in connection with the use of our Services. Instamo will not process your transaction until Instamo has received the fees from you.
Instamo will let you know the exact amount payable by you when you set up your order via the app.
Without informing you the reasons, Instamo may refuse to execute the relevant transaction or provide any Services to you .
Intellectual property rights
While you are using our Services, you may use the Materials only for your personal use and solely as necessary in relation to those Services.
"Instamo Materials" include any software (including without limitation the App, the API, developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed and provided by us or our affiliates to you, or available for download from our website. You may not, and may not attempt to, directly or indirectly:
1. transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Service or the Instamo Materials to any person or entity;
2. remove, obscure, or alter any notice of any of our trade marks, or other "intellectual property" appearing on or contained within the Services or on any Instamo Materials;
3. modify, copy, tamper with or otherwise create derivative works of any software included in the Instamo Materials; or
4. reverse engineer, disassemble, or decompile the Instamo Materials or the Services or apply any other process or procedure to derive the source code of any software included in the Instamo Materials or as part of the Services.
The status for loss or damage
Instamo is not responsible to you for foreseeable loss and damage caused by us as Instamo is an infrastructure to streamline the information flow with financial institutions, banks. If Instamo does not reasonably meet our commitments to you, our Instamo partner in charge will be responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill. Instamo is not responsible for any loss or damage that is not foreseeable.
Instamo do not exclude or limit in any way our liability to you where it would be unlawful to do so.This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation.
Instamo is not liable for business losses. If you use our Services for any commercial or business purpose Instamo will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
Instamo is not liable for technological attacks. Instamo will not be liable for any loss or damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programmes, data or other proprietary material related to your use of our Services.
Instamo has no control over websites linked to and from our website. Instamo assumes no responsibility for their content or any loss or damage that may arise from your use of them.
Our liability to you for unauthorised payments or our mistake. In case of an unauthorised payment or mistake due to our Instamo partner’s error, our Instamo partner shall at your request immediately refund the payment amount including all fees deducted. This shall not apply:
(a) where your Account, or its personalised security features, are lost, stolen or misappropriated. You will be liable for the first USD 35 of any unauthorised payments if Instamo believes you should have been aware of the loss, theft or unauthorised use. Instamo will not hold you liable for the first USD 35 if the unauthorised payment was caused either by our acts or omissions, or those of a third party expressly carrying out activities on our behalf. Your liability for the first USD 35 also does not apply to any unauthorised transactions made after you have notified us that your Account may have been compromised (using the details Instamo has given you);
(b) if you have acted fraudulently, in which case Instamo will not refund you in any circumstances;
(c) if you do not quickly notify us of security issues on your Account (e.g. loss of your password), you remain liable for losses incurred up to your notification to us;
(d) if the payment transaction was unauthorised but you have with intent or gross negligence compromised the security of your Account or failed to comply with your obligations to use your Account in the manner set out in this Agreement. In such a case you shall be solely liable for all losses;
You are responsible for checking your Account regularly. Instamo relies on you to regularly check the transactions history of your Account and to contact us immediately in case you have any questions or concerns.
Instamo is not liable for things which are outside of our control. Instamo (and our affiliates) cannot be liable for our inability to deliver or delay as a result of things which are outside our control.
You are liable for breaking this Agreement or applicable laws. In the unlikely event of loss or claims or costs and expenses arising out of your breach of this Agreement, any applicable law or regulation and/or your use of our Services, you agree to compensate us and our affiliates and hold us harmless. This provision will continue after our relationship ends.
What happens if you owe us money. In the event you are liable for any amounts owed to us, Instamo may immediately remove such amounts from your Balance (if available). If there are insufficient funds in your Balance to cover your liability, Instamo reserves the right to collect your debt to us by using any payments received in your Account and otherwise you agree to reimburse us through other means. Instamo may also recover amounts you owe us through legal means, including, without limitation, through the use of a debt collection agency.
Accessing our services
Instamo will try to make sure our Services are available to you when you need them. However, Instamo do not guarantee that our Services will always be available or be uninterrupted. Instamo may suspend, withdraw, discontinue or change all or any part of our Service without notice. Instamo will not be liable to you if for any reason our Services are unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to our Services. If you have granted permission to a third party to access your account, Instamo may refuse access to that third party if Instamo is concerned about unauthorised or fraudulent access by that third party. Instamo will give you notice if Instamo does this, either before or immediately after Instamo refuses access, unless notifying you would be unlawful or compromise our reasonable security measures.
You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. You should use your own virus protection software. Instamo cannot guarantee that our Services will be free from bugs or viruses.
You must not misuse our Services. You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other materials which are malicious or technologically harmful. You must not attempt to gain unauthorised access to our website, our servers, computers or databases. You must not attack our website with any type of denial of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. Instamo will report any such breach to the relevant law enforcement authorities and Instamo will cooperate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our website and/or our Services will cease immediately.
Linking to our site
You may link to our website provided you follow certain rules. You may link to our website, provided:
(a) you do so in a way that is fair and legal and does not damage our reputation or take advantage of it;
(b) you do not suggest any form of association, approval or endorsement on our part where none exists;
(c) you do not frame our Website on any other site; and
Instamo reserves the right to withdraw linking permission without notice.
When Instamo can end this Agreement or suspend our Services
Instamo may end this Agreement by giving you two months notice. Instamo may end this Agreement and close your Account or any service associated with it by giving you two months’ prior notice.
Instamo may suspend or close your Account without notice in certain circumstances.Instamo may at any time suspend or close your Account and/or end this Agreement without notice if:
(a) you breach any provision of this Agreement or documents referred to in this Agreement;
(b) Instamo is requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency;
(c) Instamo has reason to believe you are in breach of any applicable law or regulation; or
(d) Instamo has reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal or illegal activity.
Instamo may suspend your Account for security reasons. Instamo may suspend your Account or restrict its functionality if Instamo has reasonable concerns about:
(a) the security of your Account; or
(b) suspected unauthorised or fraudulent use of your Account.
You cannot use the App if this Agreement ends. On termination for any reason all rights granted to you in connection with the App shall cease, you must immediately delete or remove the App from your devices.
Our right to make changes
Instamo may change this Agreement by giving you at least two (2) months’ prior written notice. If Instamo does this, you can terminate this Agreement immediately by providing written notice to us during the notice period. If Instamo does not hear from you during the notice period, you will be considered as having accepted the proposed changes and they will apply to you from the effective date specified on the notice.
In some instances, Instamo may change this Agreement immediately. Despite section 26.1, changes to this Agreement which are (1) more favourable to you; (2) required by law; or (3) related to the addition of a new service, extra functionality to the existing Service; or (4) changes which neither reduce your rights nor increase your responsibilities, will come into effect immediately if they are stated in the change notice. Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.
How Instamo may contact you
Instamo usually contacts you via email. For this purpose, you must at all times maintain at least one valid email address in your Account profile. You should check for incoming messages regularly and frequently, these emails may contain links to further communication on our website. If you don’t maintain or check your email and other methods of communications, you will miss emails about your transactions and our Services. Instamo cannot be liable for any consequence or loss if you don’t do this. If Instamo has reasonable concerns either about the security of your Account, or any suspected or actual fraudulent use of your Account, Instamo will contact you via telephone, email, or both (unless contacting you would be unlawful or compromise our reasonable security measures).
Where legislation requires us to provide information to you on a durable medium, Instamo will either send you an email (with or without attachment) or send you a notification pointing you to information on our website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference. Do keep copies of all communications Instamo send or make available to you.
If you have any complaints about us or our Services, you may contact us following firstname.lastname@example.org
Other important terms
Nobody else has any rights under this Agreement. This Agreement is between you and us. No other person shall have any rights to enforce any of its terms. Neither of us will need to get the agreement of any other person in order to end or make any changes to this Agreement.
Instamo may transfer this Agreement to someone else. You may not transfer, assign, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any or all of your rights and obligations under this Agreement (including the Account) without our prior written consent. Instamo reserves the right to transfer, assign or novate this Agreement (including the Account) or any right or obligation under this Agreement at any time without your consent.
If a court finds part of this Agreement illegal, the rest will continue in force. Each of the paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
Even if Instamo delays in enforcing this Agreement, Instamo can still enforce it later. If Instamo delays in asking you to do certain things or in taking action, it will not prevent us from taking steps against you at a later date.
This Agreement supersedes any other previous agreements. This Agreement supersedes and extinguishes all previous agreements between you and Instamo, whether written or oral, relating to its subject matter.
Which laws apply to this Agreement and where you may bring legal proceedings. This Agreement is governed by English law. Any dispute between you and us in connection with your Instamo Account and/or this Agreement may be brought in the courts of Singapore.
Version: effective on 15 July 2019
INFORMATION Instamo COLLECTS
Instamo wants you to understand the types of information Instamo collects when you register for and use Instamo
Information you provide to us at registration
When you create an Instamo Account, you provide us with personal information that includes your contact information (Email Address, phone number, name, and a password).
This also includes information you provide through your continued use of our Services, participate in discussion boards or other social media functions on our website or App, enter a competition, promotion or survey, and when you report a problem with our Services. The information you give us may include your name, address, e-mail address, phone number, financial information (including credit card, debit card, or bank account information), payment reason, geographical location, social security number, ID number, personal description and photograph.
Information Instamo collects when authenticating user identity
To comply with global industry regulatory standards including Anti-Money Laundering (AML), Know-Your-Customer (KYC), and Counter Terrorist Financing (CTF), Instamo and its Partner requires user accounts to undergo user identity authentication for both Personal & Enterprise-level accounts. This entails collecting formal identification.
Information Instamo collects as you use our services
Instamo may also need additional commercial and/or identification information from your e.g. if you send or receive certain high-value or high volume transactions or as needed to comply with our anti-money laundering obligations under applicable law.
Service Usage Information
Through your use of the Instamo and its Partner platform, Instamo also monitors and collects tracking information related to usage such as access date & time, device identification, operating system, browser type and IP address. This information may be directly obtained by Instamo and its Partner or through third party services. This service usage data helps us our systems to ensure that our interface is accessible for users across all platforms and can aid during criminal investigations.
For all personal and enterprise user accounts, Instamo collects transaction information including deposit snapshots, account balances, transaction history, withdrawals, and other activities conducted via Instamo and its Partner platform. This transaction data is monitored for suspicious trading activity for user fraud protection, and legal case resolution.
Information Instamo collects about you. With regard to your use of our Services Instamo may automatically collect the following information:
(a) details of the transactions you carry out when using our Services, including geographic location from which the transaction originates;
(b) technical information, including the Internet protocol (IP) address used to connect your computer to the Internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform;
Information Instamo receives from other sources
Instamo may receive information about you if you use any of the other websites Instamo operates or the other services Instamo provide. Instamo is also working closely with third parties and may receive information about you from them.
- the banks you use to transfer money to us will provide us with your basic personal information, such as your name and address, as well as your financial information such as your bank account details;
- business partners may provide us with your name and address, as well as financial information, such as card payment information;
- advertising networks, analytics providers and search information providers may provide us with pseudonymised information about you, such as confirming how you found our website;
- credit reference agencies do not provide us with any personal information about yourself, but may be used to corroborate the information you have provided to us.
Uses made of the information
Instamo uses your information in the following ways:
(a) to carry out our obligations relating to your contract with us and to provide you with the information, products and services;
(b) to comply with any applicable legal and/or regulatory requirements;
(c) to notify you about changes to our Services;
(d) as part of our efforts to keep our Services safe and secure;
(e). to administer our Services and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
(f) to improve our Services and to ensure that they are presented in the most effective manner;
(g) to measure or understand the effectiveness of advertising Instamo serves and to deliver relevant advertising to you;
(h) to allow you to participate in interactive features of our Services, when you choose to do so;
(i) to provide you with information about other similar goods and services Instamo offers;
(j) to provide you, or permit selected third parties to provide you, with information about goods or services Instamo feels may interest you; or
(k) to combine information Instamo receives from other sources with the information you give to us and information Instamo collects about you. Instamo may use this information and the combined information for the purposes set out above (depending on the types of information Instamo receives).
WHY DOES Instamo and its Partner COLLECT THIS INFORMATION?
To provide and maintain our services.
Instamo uses the information collected to deliver our services and verify user identity.
Instamo uses the IP address and unique identifiers stored in your device’s cookies to help us authenticate your identity and provide our service. Given our legal obligations and system requirements, Instamo cannot provide you with services without data like identification, contact information and transaction-related information.
To protect our users
Instamo uses the information collected to protect our platform, users’ accounts and archives.
Instamo uses IP addresses and cookie data to protect against automated abuse such as spam, phishing and Distributed Denial of Service (DDoS) attacks.
Instamo analyzes trading activity with the goal of detecting suspicious behavior early to prevent potential fraud and loss of funds to bad actors.
To comply with legal and regulatory requirements
Respect for the privacy and security of data you store with Instamo and its Partner informs our approach to complying with regulations, governmental requests and user-generated inquiries. Instamo will not disclose or provide any personal information to third party sources without review from our legal case team and/or prior consent from the user.
To measure site performance
Instamo actively measures and analyzes data to understand how our services are used. This review activity is conducted by our operations team to continually improve our platform’s performance and to resolve issues with the user experience.
Instamo continuously monitors our systems’ activity information and communications with users to look for and quickly fix problems.
To communicate with you
HOW DOES Instamo and its Partner PROTECT USER DATA
Instamo and its Partner have implemented a number of security measures to ensure that your information is not lost, abused, or altered. Our data security measures include, but are not limited to: Secured Sockets Layered encryption technology, pseudonymisation, internal data access restrictions, and strict physical access controls to buildings & files. Please note that it is impossible to guarantee 100% secure transmission of data over the Internet nor method of electronic storage. As such, Instamo requests that you understand the responsibility to independently take safety precautions to protect your own personal information.
If you suspect that your personal information has been compromised, especially account and/or password information, please lock your account and contact Instamo and its Partner customer service immediately.
Disclosure of your information
Instamo may share your information with selected third parties including:
(a) affiliates, business partners, suppliers and subcontractors for the performance and execution of any contract Instamo enter into with them or you;
(b) advertisers and advertising networks solely to select and serve relevant adverts to you and others; and
(c) analytics and search engine providers that assist us in the improvement and optimisation of our site; and
(d) our Instamo partners/ subsidiaries listed in terms of service agreement.
Instamo may disclose your personal information to third parties:
(d) in the event that Instamo sell or buy any business or assets, in which case Instamo may disclose your personal data to the prospective seller or buyer of such business or assets;
(e) if Instamo is under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply our terms of service and other applicable agreements; or to protect the rights, property, or safety of Instamo and its Partners, our customers, or others. This includes exchanging information with other companies and organisations for the purposes of fraud protection and credit risk reduction;
(f) to assist us in conducting or co-operating in investigations of fraud or other illegal activity where Instamo believes it is reasonable and appropriate to do so;
(g) to prevent and detect fraud or crime;
(h) in response to a subpoena, warrant, court order, or as otherwise required by law;
(i) to assess financial and insurance risks;
(j) to recover debt or in relation to your insolvency; and
(k) to develop customer relationships, services and systems.
Instamo does not have a published list of all of the third parties with whom Instamo shares your data with, as this would be heavily dependant on your specific use of our Services. However, if you would like further information about who Instamo has shared your data with, or to be provided with a list specific to You, you can request this by writing to email@example.com and its Partner
Where Instamo stores your personal data
Sharing your data outside of the AWS
In order to provide our Services to you, it is sometimes necessary for us to transfer your data to the third parties outlined in section 5.1 that are based outside of the Amazon Web Services. In these cases, Instamo ensures that both ourselves and our partners take adequate and appropriate technical, physical and organisational security measures to protect your data. Instamo also ensures Instamo have appropriate contractual protections in place with these third parties.
Profiling and Automated Decision Making
Instamo may use some instances of your data in order to customise our Services and the information Instamo provides to you, and to address your needs - such as your country of address and transaction history. For example, if you frequently send funds from one particular currency to another, Instamo may use this information to inform you of new product updates or features that may be useful for you. When Instamo does this, Instamo takes all necessary measures to ensure that your privacy and security are protected - and Instamo only use pseudonymised data wherever possible. This activity has no legal effect on you.
As part of being a highly technical and innovative company, Instamo may use Automated Decision Making (ADM) in order to improve your experience, or to help fight financial crime. For example, so that Instamo can provide you with a fast and efficient service, Instamo may use ADM to verify your identity documents, or to confirm the accuracy of the information you have provided to us. None of our ADM processes have a legal effect on you.
As an open banking infrastructure to streamline your information flow with different financial institutions and Instamo operators, Instamo and its Partner and its partners are required by law to store some of your personal and transactional data beyond the closure of your account with us. Your data is only accessed internally on a need to know basis, and it will only be accessed or processed if absolutely necessary.
Instamo will always delete data that is not longer required by a relevant law or jurisdiction in which Instamo operates.
You have the right to ask us not to contact you for marketing purposes by contacting us at contact@Instamo.io
You have the right to correct any personal information Instamo holds on you that is inaccurate, incorrect, or out of date.
You have the right to ask us to delete your data when it is no longer necessary, or no longer subject to a legal obligation to which TransferWise is subject to.
You have the right to transfer your personal data between data controllers, for example, to move your account details from one online platform to another.
Our Services may, from time to time, contain links to and from the Website of our partner networks, advertisers and affiliates. If you follow a link to any of these Website, please note that these Websites have their own privacy policies and that Instamo does not accept any responsibility for them. Please check these policies before you submit any personal data to these Websites.
Access to information
Subject to applicable laws, you may have the right to access information Instamo held about you. Your right of access can be exercised in accordance with the relevant data protection legislation.