Terms and Conditions for Over The Counter (Agent OTC) Transactions

Meanings of Words

In these Terms and Conditions:

“TRUEMONEY”, “We”, “Our” and “Us” means TRUEMONEY (Cambodia) Plc.

“TRUEMONEY Agent” means a retailer or mom and pop shop, or any natural person legally appointed by TRUEMONEY under the Agent Agreement to carry out the TRUEMONEY’s products and services to its customers and/or business partners.

“SC Code” means the 8 digits Security Code generated by TRUEMONEY system to the Sender and must be presented to the TRUEMONEY Agent in order to cash out the money from the TRUEMONEY Agent.

“Sender” means a natural person who uses the TRUEMONEY Agent channel to transfer money to his/her counterparty (Receiver) .

“Receiver” means a natural person who uses the TRUEMONEY Agent channel to cash out the money from the Sender.

“Receiver Phone Number” means the phone number and mobile phone that the Receiver needs to present to the Agent for verification prior to cashing out the money.

“You” means the TRUEMONEY Sender or Receiver or Partner’s clients who use TRUEMONEY’s Agent network.

“PTU” means Phone Top Up.

“EDC” means Electronic Data Capture or POS device which is used by the Agent to process OTC transactions for the customers.

“Agent App” means mobile application developed by TRUEMONEY with features or functions for the Agent to perform OTC transactions for the customers.

“OTC” means Over the Counter transactions involving those products or services offered by TRUEMONEY via TRUEMONEY’s Agent Network.

“e-Wallet” means a mobile App account developed by TRUEMONEY with features or functions for Customers to hold fund or transact.

“PIN Code” means the 4 digits confidential codes that is secret to you and used to authorize when processing a transaction.

“NBC” means the National Bank of Cambodia that granted the Payment Service Institution license for TRUEMONEY to operate in Cambodia.

“MTO” means a Money Transfer Operator that is regulated by the Central Bank in a foreign Country (i.e. Singapore or UK) which TRUEMONEY connects with in order to enable cross-border money transfer from overseas to Cambodia.

Scope of Over The Counter (OTC) Transactions

OTC transactions refer to those products or services offered by TRUEMONEY to customers in Cambodia who will use one of the TRUEMONEY’s appointed Agents to perform any of the following transaction activities:

Send money (domestic remittance); or
Cash-out SC Code (domestic remittance); or
Cash-out money (from e-Wallet); or
Cash-out SC Code (from International remittance); or
Cash in money (to e-Wallet); or
Cash in money (for Partners); or
Phone-top-Up (PTU); or
Bill Payment; or
Partner Pay Out; or
Buy Ticket Service; or
Register new e-wallet (Level 1 Customer only); or
Any other products or services offered by TRUEMONEY from time-to-time.
How do these Terms and Conditions apply?

These Terms and Conditions will be used to govern the operation of the TRUEMONEY’s OTC transactions via Agent channel. It is important for you to read and understand these Terms and Conditions before you accept to use TRUEMONEY’s products or services. Please contact TRUEMONEY Care Center if you do not understand, or are unsure about any aspect of these Terms and Conditions. Our Care Center Contact Number: 023 999 639.

When do these Terms and Conditions take effect?

When you firstly accepted to use TRUEMONEY’s products or services at any TRUEMONEY’s appointed Agent, you agree to accept these Terms and Conditions for Over the Counter Transactions.

Authority

You acknowledged and agreed that the use of the TRUEMONEY’s Products or Services via TRUEMONEY’s Agent provides sufficient authority for us to process your transactions. We may act on this authority and/or your instruction and will not be liable for any Loss suffered by you resulting from us acting on this authority and we are not required to make further enquiries.

Detail OTC Transactions via TRUEMONEY Agent Channel

6.1 Send Money (Domestic Remittance)

You can send money to both registered TRUEMONEY e-Wallet account or non-registered TRUEMONEY customer.

6.1.1. Send to registered TRUEMONEY e-Wallet account

You shall fill in the form by providing Sender phone number, Receiver phone number or Receiver e-Wallet account number and amount that you wish to remit before the Agent can process your transaction.

6.1.2. Send to non-registered TRUEMONEY customer

You shall fill in the form by providing sender phone number, receiver phone number, and amount that you wish to remit before the Agent can process your transaction.

By providing these information and instruction, you authorise TRUEMONEY Agent to send money on your behalf using TRUEMONEY Payment device (EDC or Agent App).

You shall verify the money before giving your cash to the Agent to process your transaction. In case a dispute arises as a result of old notes or wear and tear, cash shortage or surplus, you agree to settle the matter directly with the Agent.

You shall not present counterfeit notes in order to process your transaction with the Agent. TRUEMONEY or its Agent reserves the right to confiscate the counterfeit notes to comply with the National Bank of Cambodia’s regulation.

You shall sign on the thermal paper receipt to comply with these Terms and Conditions and verify a copy of the printed receipt or SMS notification before leaving the Agent counter to confirm your transaction.

6.1.3. Security Code Validity Period and Transaction Rollback

Your 8 digits Security Code is valid for a month or 30 days counting from the date of the initial transaction. After the 30 days-period ended, your 8 digits Security Code will be expired.

For re-activation of the Security Code after expiration, you shall contact our Care Center via 023999639 to re-issue you a new Security Code upon TRUEMONEY having satisfied or validated your request.

For any transactions from the e-Wallet customer, TRUEMONEY shall return or roll back the fund to Sender after the expiry of the SC Code. TRUEMONEY reserves its right to charge a transaction dishonor fee of US$1 upon returning the transaction or rollback.

For any transactions from non-customers, the fund shall not be returned or rolled back but will be stored in TRUEMONEY system after the expiry of your SC Code to ensure better fund management and security reasons for you. You agree that TRUEMONEY shall not require to roll back the fund and may maintain such fund on your behalf until such time that you come to claim.

After 2 months or 60 days from the initial date of the transaction, you remain the owner of the fund and can still claim your fund from TRUEMONEY but shall visit TRUEMONEY office to complete necessary due diligence.

Expired SC Code exceeding 5 years period: SC Code proceeds via our Agent network shall be valid for a period of 5 years after the initial date of your remittance. Any SC Code exceeding the stipulated period shall be voided and no longer capable of execution. Without redeeming your SC Code after 5 years, you agree to transfer fund ownership rights to be managed by us. You may still be able to claim your net unclaimed amount minus applicable administrative charges by visiting TRUEMONEY’s Head Office to complete necessary due diligence/application.

6.1.4. Fund Management fees and charges after 2 months (60 days)

To maintain your fund on a daily basis, TRUEMONEY will reconcile your fund, regularly monitor and manage fund movement between TRUEMONEY’s system and fund held in the Trust Account with the partner Bank. There will be administrative cost and efforts for maintaining your fund and you agree that TRUEMONEY may charge you the monthly fund management fee of US$5 to cover up any administrative fees and charges incurred during the fund management period. TRUEMONEY reserves the right to revise such fees and charges from time-to-time and shall notify you 21 days in advance in line with the NBC’s regulation prior to the implementation of such fees and charges. The information of such fees and charges will be made available to you at all the Agent outlet/store, or when you accept to use our OTC transactions service with any Agent, and/or at our TRUEMONEY’s website (www.truemoney.com.kh).

6.2 Cash Out SC Code (Domestic Remittance)

You can go to any TRUEMONEY Agent near you to cash out the money received from your counterparty.

You shall satisfy us with the following requirements before the Agent can cash out the money:

You shall fill in the form with the 8 digits security code, cash out amount, and receiver phone number.
You shall bring with you the mobile phone with the phone number used for receiving the money;

You shall verify the money before leaving the Agent counter. In case any disputes arise as a result of old notes or wear and tear, counterfeit notes, cash shortage or surplus, you agree to settle the matter directly with the Agent.

Subject to the other Terms and Conditions in this document, you also agree and acknowledge to comply with the section 6.1.3 and 6.1.4 where applicable.

6.3 Cash Out Money (from e-Wallet)

You can go to any TRUEMONEY Agent nearby to cash out money from your e-Wallet.

You shall satisfy us with the following requirements before the Agent can cash out the money:

You shall fill in the form with e-Wallet or Phone number information, cash out amount to the Agent for verification
You will be asked to authorize your transaction with your PIN Code to process your transaction. Your PIN is confidential information and You shall not share it with the Agent and others.

6.4 Cash Out SC Code (from International Remittance)

When you received voucher code of inbound international remittance from a relative or friend overseas, you can go to any TRUEMONEY Agent nearby to cash out the money.

You shall satisfy us with the following requirements before the Agent can cash out the money:

You shall fill in Full name, NID or Passport Number, Voucher Code, Cash out amount, Receiver Phone number information, and provided to the Agent.
You shall present the form to the Agent for further verification.

6.5 Cash In Money (to e-Wallet)

You can Cash in money to your e-Wallet via any TRUEMONEY Agent that is close to you.

You shall satisfy us with the following requirements before the Agent can cash in the money:

You shall fill in e-Wallet or Phone number, Cash in amount, and provided to the Agent.
You will be asked to authorize your transaction with your PIN Code to process your transaction. Your PIN is confidential information and You shall not share it with the Agent and others.

You shall verify the money before giving your cash to the Agent to process your transaction. In case of any disputes arose as a result of old notes or wear and tear, cash shortage or surplus, you agree to settle the matter directly with the Agent.

6.6 Cash In Money (for Partners)

TRUEMONEY has many banking or financial institution partners who will use the TRUEMONEY’s Agent network to perform cash in service for their clients.

You (Partner’s client) shall satisfy us with the following requirements before the Agent can cash in the money:

You shall fill in Partner name or Partner Code, Customer or Account number, Cash in amount, and Phone number
You shall fill in the form and presented to the Agent for further verification.

6.7 Phone top Up (PTU)

You shall satisfy us with the following requirements before the Agent can issue you the PTU:

Pinless PTU:

You shall fill in PTU amount and Phone number
You shall fill in the form and presented to the Agent for further verification.

Pin PTU:

You shall fill in Operator Name and PTU amount
You shall fill in the form and presented to the Agent for further verification.

6.8 Bill Payment

TRUEMONEY has many bill payment partners (Business-2-Business) who will use the TRUEMONEY’s Agent network to settle bills with their clients such as: loan repayment, cable fee, school fee, utilities, food & beverages, groceries etc.

You (Partner’s client) shall satisfy us with the following requirements before the Agent can settle your bill:

You shall fill in Biller Name or Biller Code, Consumer or Reference ID, Biller amount, and Phone number
You shall fill in the form and presented to the Agent for further verification.

6.9 Partner Payout

You shall satisfy us with the following requirements before the Agent can settle your Payout:

You shall fill in Partner Name, Serial Number and Phone number
You shall fill in the form and presented to the Agent for further verification.

You shall verify the money before leaving the Agent counter. In case of any disputes arose as a result of old notes or wear and tear, counterfeit notes, cash shortage or surplus, you agree to settle the matter directly with the Agent.

6.10 Buy Ticket Service

TRUEMONEY offers ticketing service which a customer can purchase a bus or cinema ticket from any TRUEMONEY’s Agent network.

You shall provide the type of ticket, ticket information, amount, and Phone number before the Agent can sell you the ticket.

6.11 Registering New e-Wallet (Level 1 Customer Only)

TRUEMONEY customers who wish to sign up for a new e-Wallet can do so via TRUEMONEY App, but alternatively the customers can also sign up via Agent.

To sign up a new e-Wallet via Agent, You shall satisfy us with the following requirements:

You shall fill in Full Name and Phone number
You shall Cash in the money into your e-Wallet with a minimum amount of US$5 or KH 20,000 Riels.

Processing Instructions

All transactions will be performed by the Agent and automatically processed real-time through TRUEMONEY’s platform, either via Agent App or EDC. Any transaction processed cannot be cancelled, altered or changed by you. You shall verify your payment instruction before you ask the Agent to process your transaction to avoid mistake or error.

At your request, you realized your mistake or error or the Agent found out immediately post your transaction, TRUEMONEY or its Agent reserves the right to cancel your transaction only if such transaction has not exceeded the 10 minutes grace period mandated by the TRUEMONEY’s system. Notwithstanding the above, you can still cancel your transaction, but it will be subjected to additional transaction fees & charges.

You shall verify a receipt or SMS notification to you post your transaction before leaving the Agent’s counter. You shall retain the transaction receipt and SMS notification for future reference until your transaction has been successfully settled with your counterparty.

Fees and Charges

TRUEMONEY or its Agent will charge a transaction fee from you when you are using TRUEMONEY’s products and services or its platform to process your transaction.

The fees and charges will be based on the fee structure set by TRUEMONEY which will be made available at TRUEMONEY Agent Outlets / shops or publicly available in TRUEMONEY’s website (www.truemoney.com.kh). TRUEMONEY reserves the right to change the fees and charges from time to time to remain competitive in the market and doing so to ensure business sustainability. Other fees and charges were also relevant as per section 6.1.3 and 6.1.4 above. You agree to pay these fees and charges as made available to you.

Anti-Money Laundering and Sanctions

You agreed that TRUEMONEY may delay, block or refuse to process any transaction without incurring any liability if TRUEMONEY suspects that:

the transaction may breach or contrast with any regulation and/or law in Cambodia or any other countries; or
the transaction may directly or indirectly involve the proceeds of, or be applied for the purposes of, unlawful conduct.

You agreed to provide all information to TRUEMONEY which TRUEMONEY reasonably requires in order to manage money-laundering or terrorism financing risk or to comply with any laws in Cambodia or any other countries and you agreed that TRUEMONEY may disclose any information concerning you and your transactions to regulatory agency or court where required by any such law, in Cambodia or elsewhere.

You declare and undertake to TRUEMONEY that the acceptance and/or payment of money by TRUEMONEY in accordance with your instructions will not breach any laws in Cambodia or any other countries.

Security

10.1 Suspension and/or Cancellation of Transaction by TRUEMONEY

The suspension and/or cancellation of the transaction might be happened when:

TRUEMONEY suspects you of being fraudulent or engaging in inappropriate behaviour;
TRUEMONEY’s systems or equipment malfunctions or are otherwise unavailable for use; or
TRUEMONEY is required to do so by law.

10.2 Security Code Number

In order to ensure your safety, the security code number is automatically and randomly generated from the system anonymously before passing this security code to you. You must keep this security code secretly and confidentially. You will be liable for any loss suffered by you resulting from your failure to follow this instruction or from your carelessness to let others know your security code.

Liability

You are liable for all transactions conducted when you utilize the TRUEMONEY’s Products and Services, except where there has been fraud or negligence by TRUEMONEY, its employees, or agents or any mobile network operators which have cooperated with TRUEMONEY.

Discrepancies / Errors, Questions and Complaints

Please contact TRUEMONEY’s Care Center (023 999 639) if you believe that a discrepancy or error has occurred in any transaction, or if you have any questions or complaints.

To assist with TRUEMONEY’s investigations, you will need to provide the following information:

your name;
details of the transaction in question; and
the amount of the suspected error or disputed transaction.

Notices and Changes to Fees and Charges and Terms and Conditions

TRUEMONEY shall have the rights to change these Terms and Conditions, and Fees and Charges at any time based on the business requirement. TRUEMONEY might notice you by:

displaying on TRUEMONEY’s website at www.truemoney.com.kh or by advertisement online and offline media, and any other public networks; or
at TRUEMONEY Agent Shops/Outlets

TRUEMONEY may also use the methods outlined above as a means of providing you notices.

Disruption to Service

You agreed that TRUEMONEY will not compensate for any Loss beyond our control as a result of temporarily unavailable or where a system or equipment fails to function in a normal or satisfactory manner, regardless of how this may have been caused.

Privacy and confidentiality

When you deal with us, TRUEMONEY is likely to collect and use some of your personal information. TRUEMONEY explains below when and how we may collect and use your personal information. If you do not provide some or all of the information requested, we may be unable to provide you with a product or service.

15.1 TRUEMONEY may collect your personal information:

(a) to assist you in validating your transaction with the Agent;

(b) to perform other operational tasks as required by TRUEMONEY or its Agent;

(d) as required by relevant laws, regulations in Cambodia and International Regulations.

15.2 Subject to our general duties of confidentiality towards our customers, TRUEMONEY may need to disclose your personal information to:

(a) our TRUEMONEY’s HeadQuarter

(b) any MTO that TRUEMONEY has engaged to enable its functions and activities;

(d) any Party that TRUEMONEY is authorised or required by law to disclose information to;

(e) other financial institutions (such as correspondent banks)

Assignment

TRUEMONEY may, without telling you or obtaining your consent, assign or transfer all or any part of its rights and obligations under the relationship or agreement to any third Party. You agree to do any act or execute any document as TRUEMONEY may direct to effect any assignment or transfer contemplated by this clause.

Governing Law

These Terms and Conditions are governed by laws of the Kingdom of Cambodia. Any irregularity or dispute arising from these Terms and conditions, the Parties shall agree to settle it amicably. In case of failure, the irregularity or dispute shall be resolved under administered by National Commercial Arbitration Center of Cambodia (“NCAC”) in accordance with the Arbitration Rules of the NCAC (NCAC Rules).

Languages

These Terms and Conditions are made in the Khmer and English language. In case of any conflict between the English language and Khmer language, the Khmer language shall prevail.

Other Provisions

19.1 These Terms and Conditions shall come into effect on 1st July 2020 (the “Effective Date”). After being inforce, these Terms and Conditions shall be executed on 22nd July 2020.

19.2 All other previous Terms and Conditions of Non-True Customer shall be superseded by these Terms and Conditions upon its Effective Date as defined above.

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