ONE2ONE MONEY: FREQUENTLY ASKED QUESTIONS Moore ONE2ONE MONEY
Contents FAQ... 2 Senders... 2 What do I need to send money via One2One Money?... 2 How much money can I send?... 2 To whom can I send money to?... 2 Person I am sending to is currently abroad. What is destination country for that transfer?... 2 Personalized transfers: how is my message delivered to recipient?... 2 Do I need to store card number in My Wallet to send money?... 2 What is One Click Transfer (1CT)?... 3 When is money available to Recipient?... 3 What are Fast Transfers?... 3 Service Fee... 3 Reductions to service fee... 3 Currency conversions when sending money abroad... 3 My Transfer Request doesn t pass. Why?... 3 Recipients... 4 What do I need to receive money via One2One Money?... 4 I am out of the country now and want to receive money to my card. What is country for my transfer?... 4 What is DPA?... 4 General... 4 About One2One Money... 4 Money Transfer Eligibility... 4 Basic Money Transfer Flow... 4 Information on User privacy... 5 Prudent Service Usage... 5 Why is it important to know Your Recipient BEFORE Sending Money Online?... 5 1
FAQ If you cannot find an answer to a question you are looking for, please contact us. For best customer experience, we recommend that you read answers under General Section as well. Questions and Answers are organized into three Sections: (for) Senders, (for) Recipients and General. Senders What do I need to send money via One2One Money? Both Sender and Recipient need to have a valid Mastercard or Visa branded card. Also, to send money the Sender needs to be registered with One2One Money. How much money can I send? Maximum amount for sending money is limited to USD 3,000. Your issuer may impose additional restrictions to transfer amount or number of remittances per month. To whom can I send money to? In general, a sender can send money to a recipient in its country or abroad. Additional restrictions, such as location-based restrictions to specific destination countries and service eligibility of specific card types, may be applied by card schemes, card issuers and financial authorities. For example, transferring money from business or corporate cards in general is not allowed; yet generally, these cards can accept money. See also answer to Money Transfer Eligibility in General section of FAQ and refer to One2One Money s Terms and Conditions. Person I am sending to is currently abroad. What is destination country for that transfer? For the purposes of money transfers, destination country is that of the recipient s card issuer. In other words, if you are sending money to a card issued in Country A - then that is the destination country for your transfer, even if its holder (ie money recipient) is currently living or travelling in another country. Personalized transfers: how is my message delivered to recipient? A sender can add a touch of personality to a money transfer by adding optional personal message. A message has a maximum of 160 characters. It is styled and delivered to recipient via email, along transfer notification advice. Do I need to store card number in My Wallet to send money? No. You can key in card number every time money transfer request is made. However, a card number stored securely in your wallet provides additional convenience. For example, a transfer request made to a recipient retrieved from your Favourites using a card retrieved from your Wallet, or making One Click Transfer cuts data entry to transfer amount. To learn more about One Click Transfers check out answer to that question under Sender s FAQ. 2
What is One Click Transfer (1CT)? One click transfers (1CT) are designed to reduce data entry and enhance sender s convenience. Oneclick -transfer can literally take one click to complete. There are two cases of 1CTs, sender and recipient initiated. In the first case, a sender has stored its transfer as a template and recycles it in future transfers retaining all or varying transfer elements (e.g. transfer amount). Alternatively, when a recipient shares virtual private account (DPA) having a preset transfer amount with a registered sender, then the transfer takes just one (sender s) click. When is money available to Recipient? Money transfers are direct in a sense that they never pass through our accounts. Upon advice on successful transfer the money is available to the recipient within 30 minutes or less, in many cases. However, in cases of certain Visa branded cards, money can be available to recipient only after two business days. Fast transfers are indicated in Transfer Summary Section of the transfer form. Check out answers to the Fast Transfers question under Sender s FAQ. What are Fast Transfers? So called Fast Transfers are transfers that deliver money in 30 minutes or less. Delivery times and eligibility of cards to fast transfers are determined by Card Schemes. Please note that Fast Transfers are indicated as such under Transfer Summary section on the sender s transfer request form. Service Fee One2One Money charges transfer service fee to the sender only. This fee is displayed under Transfer Summary section of the money transfer request. One2One Money does not surcharge additional fees to recipient and Transfer Amount is sent in full to the recipient. Total transaction amount, which is transfer amount plus a service fee, is charged against selected sender s card and it is displayed under Transfer Summary section (Billing heading). Reductions to service fee Certain transfers and cards may attract reduced service fees. For example, non-fast transfers taking two days to be effected on recipient s card attract discounted fees. From time to time, One2One Money arranges promotions or rewards to eligible customers. Currency conversions when sending money abroad Some transfers to recipients living abroad require currency conversion. At this time, One2One Money does not provide currency conversion service (recipient s issuing bank may apply conversion fee but we have no way of knowing this). Thus the amount in recipient s currency shown in Transfer Amount box is provided as indication only. My Transfer Request doesn t pass. Why? Each money transfer request is processed in real time. Processing sending money request includes and is not limited to checks with card issuing banks. There are more reasons as to why one transfer request could not be successfully completed. One of more common reasons is that sender s or recipient s card may be declined by respective issuing bank, such as if the card in question is ineligible for transfer service or when funds are insufficient at 3
the sender s card at the time of request. When the transfer request is rejected for internal reasons, such as invalid DPA or similar, this is displayed to the requestor. Recipients What do I need to receive money via One2One Money? Both Sender and Recipient need to have a valid Mastercard or Visa branded card. Recipient can register at One2One Money although this is not required to receive money. However, if you as recipient would like to initiate sending money to you, you will need to register. Also, registered recipients can take advantage of One2One Money s added value features such as managing receivables with privacy using DPA. I am out of the country now and want to receive money to my card. What is country for my transfer? For the purposes of money transfers, destination country is that of the recipient s (in this case, your) card issuer. It means, if a card provided in recipient s section of the transfer request is issued in Country A - then Country A is the destination country for the money transfer, even if you as recipient are currently living or travelling in a different country (Country B). What is DPA? Digital Private Account (DPA) is a virtual account administered by recipient. Every DPA has unique name which identities it in the system, like account number. It allows recipients to share account receivable s name with payers while concealing their true, private account / card number. To create DPA, recipient needs to be registered. Explore Video Tutorials to learn more about creating and using DPA. General About One2One Money One2One Money is independently operated online money transfer service facilitating transfers from one card to another, in the country and abroad. Money Transfer Eligibility Currently, One2One Money supports transfers from and to Mastercard and Visa cards. Making money transfer requests using One2One Money is also subject to terms and conditions of usage. As part of processing every money transfer request is verified in real time. While most Mastercard and Visa branded cards are eligible for sending and receiving money, please note that card networks, sender s and recipient s issuing bank as well as financial or regulatory authorities can limit transfers in some cases. You can also contact your issuing bank to check if your card is eligible for the money transfer service. Basic Money Transfer Flow The money between a Sender and Recipient is transferred via Mastercard and Visa s dedicated networks to transferring money. The transfer is direct and relies on Mastercard or Visa infrastructure and it never passes through our accounts. 4
Information on User privacy Your privacy is important to us. We at One2One Money are vigorous in applying top industry standards in protecting consumer information stored. Please read our Privacy Statement to learn more on the way we are using your personal information. To advance privacy of recipient s we introduced DPA, virtual accounts that are designed to allow recipients to conceal their true card / account numbers while sharing virtual private accounts with payers. Prudent Service Usage As is the case with most online services, One2One Money relies on customer s prudence in sharing sensitive information, such as your card number, password or details of your identity. Please pay due attention when sharing and entering this sensitive information. Know your recipient before sending him or her money online. Beware of potential emails claiming to be sent from One2One Money which require you to resend sensitive information (especially password or card number). One2One Money never sends unsolicited emails or shares your email with third parties. Please read our Privacy Statement to learn how we use your personal data. We are committed to providing top quality service for our customers and to continually work to protect their privacy and advance their convenience. Why is it important to know Your Recipient BEFORE Sending Money Online? There is a saying that it is better to be safe than sorry, which can be perfectly applied to sending money online. To protect yourself from potential scammers and ill-intended, make reasonable and independent checks on recipient s true identity (is the recipient the person s-he claims to be) and his/her actual situation (are assertions the recipient makes correct) BEFORE you actually transfer ANY money. - Make sure you know and have met your recipient in person, - Make additional and independent checks on accuracy of information you are provided with, especially if you have doubts about recipient s true identity, situation and the like. Take these and other reasonable measures to protect yourself BEFORE making transfer to a person. Remember that (winning) trust is a key building element of all scams, so make sure you apply common sense and verification. Above are some basic guidelines to help you. 5