Terms and Conditions

These terms and conditions (https://paybis.com/policies/terms-of-service/) govern your use of service provided by PAYBIS LTD, a private company limited by shares incorporated on 28 April 2016 (company number SC533961) whose registered office is at 1 West Regent Street, Glasgow, Scotland, G2 1RW (hereinafter in the text referred to as “Paybis”). Paybis provides services in the exchange of fiat currency and electronic money for cryptocurrency, and cryptocurrency for fiat currency and electronic money (hereinafter in the text referred to as “Services”). The Services are available via Paybis platform (hereinafter in the text referred to as “Platform”) exclusively. The Platform is a partially automated online system located on https://paybis.com/ (hereinafter in the text referred to as “Website”).

By accessing the Platform and using the Services, you agree that you have read, understood, and accepted all of the terms and conditions of Paybis. Paybis has the right to unilaterally change and modify terms and conditions at any time. Such changes and modifications will become effective upon publication on the Website (https://paybis.com/policies/terms-of-service/). Accessing the Platform and using the Services constitutes your acceptance of the terms and conditions published on the Website at the moment of accessing the Platform. If you do not agree with the terms and conditions of Paybis published on the Website, you must stop accessing the Platform and using the Services immediately.

1. Definitions

“Customer” means a natural (physical) person who has agreed to all terms and conditions of Paybis, as well as other relevant policies, and is willing to use the Services available on the Platform.

“Order” means (i) purchase of cryptocurrency by the Customer from Paybis via the Platform; or (ii) sale of cryptocurrency to Paybis by the Customer via the Platform, in all cases subjected to the terms and conditions of Paybis, Know Your Customer checks of Paybis, the anti-money laundering and counter-terrorism financing program of Paybis, and disclosure as to the specific terms of the Order, as indicated on this site. Each Order is a two-party transaction involving only Paybis and the Customer and no other party.

2. Main principles for provision of the Services

Paybis fulfills the Order, meaning the sale of cryptocurrency to the Customer or the purchase of cryptocurrency from the Customer as specified in the Order placed on the Website and terms and conditions of Paybis, this Agreement, and the related disclosure.

Paybis sells and purchases only those cryptocurrencies listed on the Website. The list of cryptocurrencies for sale and purchase may change without prior notice to the Customer. 

Paybis does not provide the Services to legal (juridical) persons / entities.
Paybis does not provide custodian wallet services. Paybis does not store, safeguard, or administer cryptocurrency, fiat currency, and electronic money on behalf of the Customers.

Paybis does not provide financial / investment advice for the Customers. Paybis is not a bank. Cryptocurrencies are highly volatile assets, which means their price can move from extreme highs to extreme lows and vice versa within a short period of time. The Customer must assess such risks before accessing the Platform and using the Services.

3. Liability and Indemnification

Paybis undertakes to make reasonable efforts to ensure that Orders are processed in a timely manner, but Paybis makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors beyond the control of Paybis.

The Services are provided on an "as is" and "as available" basis without any representation or warranty, whether express, implied, or statutory. Paybis does not make any representations or warranties that access to the Website or the Platform, any part of the Services, or any of the goods and materials contained therein, will be continuous, uninterrupted, timely, or without errors. Paybis does not guarantee that any Order will be accepted. Except for the direct statements set forth in these terms and conditions, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your access and use of the Platform and the Services. You hereby understand and agree that Paybis shall not be liable for any losses or damages arising out of or relating to: (i) any inaccuracy, defect, or omission of cryptocurrency price data, (ii) any error or delay in the transmission of such data, or (iii) interruption in any such data.

To the maximum extent permitted by applicable law, in no event shall Paybis, its subsidiaries and affiliates, beneficiaries, owners, shareholders, members of the board, directors, representatives, attorneys, officers, managers, employees, agents, and contractors be liable for any lost profits, decrease in value or business opportunity, any loss, damage, corruption or breach of data, or any special, incidental, indirect, intangible, or similar damages, arising in connection with authorized or unauthorized use of the Website or the Services, or these terms and conditions, except to the extent of a final judicial determination that such damages were a result of Paybis’ fraud, willful misconduct or intentional violation of applicable law. 

You agree to indemnify and hold harmless Paybis, its subsidiaries and affiliates, beneficiaries, owners, shareholders, members of the board, directors, representatives, attorneys, officers, managers, employees, agents, and contractors from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages connected to (i) your use of the Services, (ii) your violation of these Terms and Conditions, or (iii) your violation of other policies, guidelines or instructions of Paybis, or (iv) your violation of any applicable law, regulation, or rights of any third party during your use of the Services.

The Customer acknowledges that Paybis is not liable for actions of third parties providing investment or financial advice, investment services, or other kinds of services to the Customer through the Platform. Paybis strongly encourages the Customers to use the cryptocurrency wallets under their direct control. Paybis cannot be held accountable if the Customer orders to send the purchased cryptocurrency to a cryptocurrency wallet outside of the Customer’s control.

4. Processing of Orders

  • Paybis is not responsible for delays or failures in the handling of operations arising as a consequence of any problems in the telecommunications, computer and other systems; block or closure of the accounts, freezing or holding of funds, denial of service; change of political regimes, civil strike; and actions of third parties, which are beyond the control of the Platform.

  • The Order is considered to be completed when: (i) Paybis makes a transfer of the required cryptocurrency amount to the cryptocurrency wallet of the Customer (if the Customer purchases cryptocurrency); or (ii) Paybis makes a transfer of the required fiat amount to the Customer’s indicated account (if the Customers sells cryptocurrency).
  • If the Customer provides inaccurate or false information while filling out the Order (including but not limited to a bank account number that belongs to a third party), which later proves to be the reason why the Order cannot be completed, the fees associated with the Order refund shall be covered by the Customer.
  • According to the policy on the return of digitally delivered goods, the return of the transferred funds is not possible after the Order is completed.

  • The Services are only available to those Customers who had successfully passed Paybis’ Know Your Customer checks, the anti-money laundering, and counter-terrorism financing checks.

  • Paybis reserves the right to request additional information and documents from the Customer if required by applicable law and Paybis’ internal procedures. If the Customer does not provide the requested information or documents, Paybis may limit the Customer’s access to the Platform.

  • If the amount of cryptocurrency received is different by more than 20% from the amount indicated in the Order, Paybis may unilaterally reject the Order.

  • If the cryptocurrency amount to be sent to the Customer differs from the market value by more than 2% between the Order start time and the time the Order is processed, Paybis reserves the right to contact the Customer and inform them about the new amount of cryptocurrency to be paid out.

  • In the implementation of the return, all commission costs for the cryptocurrency or fiat money transfers are withheld from the funds received from the Customer.

  • Paybis reserves the right to temporarily hold the funds transferred to it from the Customer due to attempted attacks on the server, as well as any attempts of hacking and cheating scripts of the Website. The funds will be returned to the Customer via the same means of payment upon request.

  • All information provided by the Customer during the use of the Services is confidential and cannot be disclosed to third parties. Exceptions are  third-party service providers integrated with the Platform for anti-money laundering, counter-terrorism financing, and anti-fraud purposes, the request of law enforcement, the court's decision or similar legally binding requests.

  • By using the Services, the Customer agrees that the liability of the Platform is limited to the funds received from the Customers for the execution of the Order, the Platform does not provide additional warranty and assumes no additional liability to the Customer.

5. Resolution of Disputes & Applicable Law

Paybis and the Customer agree that any disputes arising between them shall initially be attempted to be resolved by mutual negotiations. In such a case, the Customer shall contact Paybis by sending an email describing the dispute to support@paybis.com, and Paybis shall contact the Customer via the email that was used for registration or any other information that the Customer provided to Paybis in order to access the Platform.

The provisions of the Services shall be governed by and interpreted in accordance with English Law and the parties submit to the exclusive jurisdiction of the English Court.

6. Form of the Terms and Conditions

The Customer and Paybis acknowledge that the digital form of these terms and conditions are legally equal to the terms and conditions executed in a written form and signed by both parties.

7. Third Parties

Paybis may share and transfer (including cross-border transfer) personal information of the Customer to the third parties in accordance with its Privacy Policy, and as prescribed by applicable law.

8. Termination Policy

Paybis reserves the right to immediately suspend the Customer’s account on the Website and hence access to the Platform for any reason including if Paybis suspects any violation of the terms and conditions, other policies of Paybis, or any applicable laws and regulations.

The Customer may terminate their account on the Website at any time, for any reason, or for no reason.

9. Eligibility

  1. Paybis prohibits the provision of the Services in certain jurisdictions (hereinafter in the text referred to as “Restricted jurisdictions”). 

  2. Upon registration on the Website, the Customer represents and warrants that the Customer:

    1. is of legal age to form a binding contract (at least 18 years old);

    2. has not previously been suspended from using the Services;

    3. has full power and authority to use the Services;

    4. is not located in, or a resident of any Restricted jurisdictions, or

    5. will not use the Services if any applicable laws in the Customer’s jurisdiction prohibit the Customer from doing so.

  3. The list of Restricted jurisdictions includes:

    1. Abkhazia

    2. Afghanistan

    3. Albania

    4. Barbados

    5. Botswana

    6. Burkina Faso

    7. Cambodia

    8. Cayman Islands

    9. Crimea

    10. Cuba

    11. Hawaii (state of the US)

    12. Iran

    13. Iraq

    14. Jamaica

    15. Mauritius

    16. Morocco

    17. Myanmar

    18. New York (state of the US)

    19. Nicaragua

    20. North Korea

    21. Northern Cyprus

    22. Pakistan

    23. Palestine

    24. Panama

    25. Sahrawi Arab Democratic Republic

    26. Senegal 

    27. Somalia

    28. South Ossetia

    29. South Sudan

    30. Sudan

    31. Syria

    32. Uganda

    33. Vanuatu

    34. Yemen

    35. Zimbabwe

Disclaimer for customers from selected US states and territories:

Alaska, Florida, Louisiana, Nevada, New Mexico, Puerto Rico, Vermont, Washington. Paybis does not and will not accept fiat-to-crypto Orders from customers residing in the above-mentioned US states and territories involving the following cryptocurrencies: Axie Infinity (AXS), Binance Coin (BNB), Chiliz (CHZ), Holo (HOT), SushiSwap (SUSHI) and TRON (TRX).

Paybis will reject such Orders if it is detected that the Customer performing them is a resident of the above-mentioned US states and territories.

Texas. While the Customers from Texas are allowed to submit fiat-to-crypto Orders (e.g. Credit Card to Bitcoin) or crypto-to-fiat Orders (e.g. Bitcoin to Credit Card) on Paybis, there are some restrictions that apply:

  • Paybis does not and will not accept Orders that involve stable coins (i.e., Tether) from Customers from Texas.

Paybis will reject such Orders if it is detected that the Customer performing them is a resident of Texas.

10. Refund Policy

Please see the detailed refund policy here: Refunds.

11. Complaints Policy

Paybis will always strive to provide an efficient and professional service, and will aim to provide prompt, courteous, helpful, open and informative advice in respect of every communication received.

Any Customer or potential Customer has the right to complain about the Services. The complaints should be communicated to Paybis by sending an email to complaints@paybis.com. Paybis undertakes to deal with each complaint and issue a response within 15 days of the initial complaint. Paybis records and analyzes all complaints in order to improve the Services.

12. Additional agreement for customers from certain US states and territories

The Customers from Alaska, Florida, Louisiana, Nevada, New Mexico, Puerto Rico, Vermont, and Washington are additionally required to read and accept Zero Hash LLC Services Agreement to be able to use the Services.

13. Paybis status with the Financial Conduct Authority

Paybis is a cryptoasset exchange provider in the meaning of regulation 14A(1) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as amended (hereinafter in the text referred to as “Regulations”).

As per requirements of the Regulations, Paybis is registered with the Financial Conduct Authority of the UK (reference number 928013) until the 31st of March 2022 and its application to register on a permanent basis is currently pending determination.

Due to the temporary status of the Paybis registration, the Customer acknowledges and accepts that the Services are currently not: (i) within scope of the jurisdiction of the Financial Ombudsman Service; (ii) subject to protection under the Financial Services Compensation Scheme.