Terms & Conditions

Effective as of October 1, 2020.

 

Please read the following terms and conditions carefully.

By accessing the website of 101OBeX [Complete name of the company] (www.101obex.com, “101OBeX”), you are declaring that you understand and agree to be bound by the terms and conditions of use and legal information set out below in respect of the website of 101OBeX and all elements contained therein. We may update these terms and conditions of use from time to time and it is your responsibility to check for updates.

If you do not agree to these Terms of Service, you must immediately stop using our services.


101OBeX [Complete name of the company] is a financial software layer between banks, investment advisors, and the financial technology platforms using our services (“Platform”). [It´s important to corroborated the object of the company. It´s must be the same that the Privacy Policy]

1. ¿How did I become a 101OBeX customer?


By using our services offered through Platform’s or our website, you became a customer of 101OBeX. You agree to these Terms and Conditions when you use the services. You understand that all bank and transaction related services are provided directly by the Bank, except as it relates to specific services provided to you by your Platform. Similarly, Platform is responsible for providing their services to you pursuant to your agreements with Platform. 101OBeX´s services allow you to easily communicate with banks and other financial institutions through Platforms. By using our service, you grant us the right, power, and authority to act on your behalf to access and transmit your personal and financial information, and requests for services between Bank, Platform, and any other financial institutions (as applicable).

2. Your representations and promises or affirmations to us.


By using our services or by accessing 101OBeX´s or a Platform’s website, you acknowledged and agree that:

a. Restriction on acceptance and use of our services.

You are a ] citizen or ] resident that is at least 18 years old (or legal age of capacity of your state) and you have the right, authority and capacity to enter into these Terms and Conditions. If you are accepting these Terms and Conditions on behalf of any legal entity, including any company, organization, government, or governmental agency, you have been authorized to do so and to act on behalf of such legal entity:

b. True and accurate information.

The information and instructions you provide us are true, accurate, and complete, as you are solely responsible for such information and instructions. Additionally, you will provide all information requested by us, such as your name, email address, phone number, date of birth, social security number or tax identification number, photo ID, online login credentials or your account and routing numbers for your bank or credit union account (“Bank Account”), and such other information as we may request from time to time. You agree to update us if the information changes (collectively, your “User Data”). We may use third parties to verify all or a portion of your information.

c. Verification of your information.

We may share your information with your Platform, Bank, our subsidiaries, and other third parties to verify your identity and/or your account information to provide our services to you as further detailed in our Privacy Policy. Sharing this information is necessary to open an Account and to provide transaction-related services.

d. Password security.

If Platform or we provide you with a login credentials (e.g. username, password or PIN) to access our services, (i) you will keep this information secure and confidential; (ii) you will not share such information with third parties; and (iii) you understand that you are responsible for all activity any person conducts using your login credentials to access our services, regardless of whether or not you authorized the activity. 

e. Authorization to debit your account.

By using our transactions services to send funds via the Automated Clearing House (“ACH”) from your linked Bank Account(s) to your Account, Platform or a third party, you authorize us (as agent of Bank) to debit the Bank Account indicated by you for the amount and on the date provided by you. You understand that because this will be an electronic transaction, and funds may be withdrawn from your account as soon as the above noted transaction date. You will not dispute your Platform, Bank, or 101OBeX debiting my account, so long as the transaction corresponds to the terms indicated in the transaction web form provided to you

f. Limits on access to services.

We may limit or suspend your access to our services or take other actions against you if the information you provide us is incorrect or you otherwise breach these Terms and Conditions.

g. Compliance with the law and your agreements.

Your use of our services do not violate any laws or regulations or any agreements with any third parties.

h. Platform services are not endorsed.

We do not provide any endorsements or guarantees for any individual or entity using the 101OBeX’s services (including the Platform you accessed to use our services), nor any third party offers, goods or services featured on our website. Information regarding third party offers, goods, and services is provided on our website for informational purposes only, and may not be true, accurate, or reliable.

3. Your conduct.

You understand and agree that you will not:

a. Use our services, to transact with or operate services relating to illegal or fraudulent goods or services and any type of money laundering.

 

b. Provide false or inaccurate information to us, including attempt to falsify your identity, such as by providing false account information or false documents;

 

c. Defraud us, Bank, or other 101OBeX users in any way;

 

d. Engage in activity that indicates, in 101OBeX or the Bank’s discretion, that there may be a high level of risk associated with you, your Account, or any of your 101OBeX account activity; or

 

e. Otherwise breach the terms of these Terms and Conditions or the policies herein.

4. Our services.


101OBeX provides software services to you and Platforms to give you the ability to send and receive funds from third parties in addition to open up an Account. All funds transfer services are provided by Bank, as 101OBeX does not receive, hold, or transmit funds. Our software allows you to send funds transfer instructions to Bank. Any funds balances displayed by 101OBeX’s software are held in your Account, or otherwise held by Bank or Platform for your benefit, as applicable (“Account Balance”). [It´s important to corroborated the object of the company. It´s must be the same that the Privacy Policy]

a. Bank account services. 

We provide software services to facilitate your requests for services relating to your Account as detailed in such agreements. We are not responsible or liable if your request for such services is limited, delayed, or denied for risk, compliance, or other reasons.

b. Transaction only services. [To verificate]

As an agent of Bank, we may provide you with services to process transactions to or from your Platform or a third party in addition to your Account. In certain circumstances relating to our transaction services, your funds may be held by Platform or Bank for your benefit and a sub-account balance may be displayed to you by our software. To provide services under this section, we may collect personally identifiable information, your Bank Account login credentials or account and routing numbers for your Bank Account, or other User Data information as we may request from time to time as further detailed in these Terms and Conditions and our Privacy Policy. will be processed in accordance with such timeframes except as otherwise noted in these Terms and Conditions. Such transaction services may be limited, delayed or denied for risk and compliance reasons that we may not be able to disclose to you. You understand that the transactions may be limited, delayed or denied and expressly disclaim any claims relating to such actions. We are not responsible for reviewing the accuracy of the transactions (amount, date, or the sender or receiver of funds). Additionally, we are not responsible if the receiver of funds rejects your transaction. 

c. Other services.

We may from time to time offer additional services or remove services without prior notice to you. You agree to be bound by the terms and conditions of such services as they may be offered to you.

5. Fees.

Fees for services offered under your Account are detailed in the specific Account agreements. If you use our Transaction services listed in Section 4(b), you may be charged a transaction fee by Platform or us as detailed in your agreement with Platform. Transactions completed on our website may include a transaction fee as detailed when you make a transaction request.

6. Reversals. [Verificate the section]


In the event that a sender or the sender’s financial institution requests a reversal of payment or 101OBeX decides against you in a dispute against you, we reserve the right to charge you a $15.00 fee in addition to the full amount of the transaction (collectively, the “Reversal Liability”). You agree to immediately reimburse for the Reversal Liability. Additionally, you authorize us to recover any Reversal Liability due 101OBeX or Bank by debiting your available Account Balance. If you have an insufficient Account Balance, you authorize 101OBeX and our Bank to take any of the following actions to recover the remaining amounts from you:

a. Debit the Bank Account(s) linked to our services;

 

b. Suspend your use of our services and require your immediate payment; or

 

c. Engage in collection efforts.

7. Protecting you and resolving disputes. [Verificate the section]


101OBeX is always looking for ways to protect you from abusive business practices, security related issues and other issues you may encounter with Platform and our Banks. If you have a complaint against how Platform or Bank is providing services to you or using your User Data, just let us know by emailing us at [**e-mail**] per below. We cannot warranty or guarantee anything under this section, but if we are able to help, we will work with you to resolve your complaint so long as such assistance is commercially reasonable and does not violate any agreements with third parties, regulations or laws.  Disputes relating to your Account shall be governed by your specific account agreements. Below is more information on how we can try to help you with other Disputes (as defined below).

a. Dispute resolution.

You understand and agree that we are not responsible for the goods or services that you pay for using our services, including but not limited to those offered by your Platform and other third parties. Each Platform and seller that you purchase from is responsible for providing the goods and services that you purchase and for providing all customer service related to those goods and services. We recommend that you review Platform’s and, if applicable, a seller’s policies before completing your purchase. You are responsible for resolving any disputes that you may have with a Platform or a seller. If you have exhausted all options for resolving a complaint about abusive business practices, security related issues, or other dispute with a Platform or a seller, you may choose to file a dispute claim with 101OBeX

b. Release of 101OBeX. 

By filing a Dispute, you understand and agree that:

You are asking us to assist in resolving the dispute in its sole discretion and that such assistance or 101OBeX’s decision may not be satisfactory to you;


101OBeX’s assistance in resolving the dispute does not guarantee any particular outcome or any action on our part; and


You release 101OBeX and our officers, directors, agents, employees, subsidiaries, and suppliers from all claims, demands, and damages of any kind arising out of your dispute with a seller and 101OBeX’s review of your Dispute.

c. How to file a Dispute. 

To file a Dispute, follow these steps:

i. Abusive business practices, security issues, or other non-transaction related disputes.

If you have a complaint about a Platform relating to abusive business practices, security issues, handling of your User Data, or related issues, email us at [**e-mail**] with the following information:

  1. The email associated with your account;

  2. The name of the website, phone application, and Platform
    relating to such Dispute;

  3. The details of your Dispute with the Platform, including any steps already taken to resolve the issue, and copies of supporting documentation (e.g. email correspondence, related agreements and promises or affirmations, etc.); and

  4. How these issues have negatively affected you.

ii. Transaction related disputes or unauthorized activity. 

Within 45 days of the original disputed transaction or immediately if the Dispute relates to unauthorized activity, email us at with the following information:

  1. The email associated with your account and names of both parties, if available;

  2. The name of the website, phone application, and Platform relating to such Dispute;

  3. The transaction ID number;

  4. The amount of the transaction; and

  5. The details of the unauthorized activity or your disagreement with the recipient, including any steps already taken to resolve the issue, and copies of supporting documentation (e.g. when you first noticed such unauthorized activity, email correspondence, receipts, shipping confirmations, etc.).


Provide any additional information or documentation that we may request. Once 101OBeX has decided the outcome of the Dispute, the parties will be notified of the decision. You are required to comply with the decision and complete any actions required by such decision.


All disputes relating to an Account shall be governed by the specific Account agreement and this section shall not apply.

8. Your liability and actions against you.

a. Your liability. 

You are responsible for all Reversal Liability, claims, fees, fines, penalties, and other liabilities incurred by 101OBeX, Bank, other 101OBeX users, a Platform, or third parties arising from your breach of these Terms and Conditions or your use of the our services. You agree to reimburse 101OBeX, Bank, other 101OBeX users, Platforms, or third parties for any and all such liability.

b. Actions we may take. 

If we determine, in our sole discretion, that you may have breached these Terms and Conditions, that you or your account activity presents risk or security concerns, or if we are unable to verify your identity, we may take actions to protect 101OBeX, Bank, Platforms, our users, or other third parties from Reversal Liability, claims, fines, penalties, and any other liability. These actions may include, but are not limited to, the following:

  1. Suspending your access to your Account or other 101OBeX related services;

  2. Taking action as set out in the “Reversals” Section to recover amounts that you owe;

  3. Closing your Account held by Bank or Platform for your benefit;

  4. Contacting Platforms, our users or third parties who have purchased goods or services from you, contacting the financial institution associated with your Bank Account(s), and/or warning other 101OBeX users, law enforcement, or other impacted third parties of your actions;

  5. Refusing to provide our services to you in the future; and

  6. Taking legal action against you.

c. Notice of limit or suspension.

We will provide you with notice if we take any of the above actions against your Account or other accounts held by Bank or Platform for your benefit. If we limit or suspend such accounts, we will provide you with notice of our action.

9. Your privacy and our Privacy Policy.

101OBeX takes your privacy seriously. To learn more about what information we may collect, how we use your information, and how we share your information with Platform or to open your Deposit Account or Investment Account, please review our Privacy Policy found at  

10. 101OBeX can terminate these Terms and Conditions at will.

We reserve the right, at our sole discretion, to restrict, suspend, or terminate these Terms and Conditions and your access to all or any part of our services, at any time and for any reason without prior notice or liability. We reserve the right to change, suspend, or discontinue all or any part of our services at any time without prior notice or liability.

11. Terminating your agreement with 101OBeX.

 

If you wish to terminate your use of the services and the Terms and Conditions, email us at However, if you terminate the Terms and Conditions with 101OBeX, this will result in your Account Agreement being terminated and may impair your ability to use Platform’s services. You accept sole responsibility and any liabilities resulting from an impairment of Platform’s services or termination of your agreements with Platform, to the fullest extent permitted by law. 

12. Terminating your agreement with Platform or your Account.

If you wish to terminate your agreement with Platform or your Account, you must notify the parties of such agreements in accordance with such agreements.

13. Notice and electronic communication.

To the fullest extent permitted by law, these Terms and Conditions, notices and other communications (collectively, “communications”) from 101OBeX to you regarding these Terms and Conditions may be provided to you electronically via 101OBeX, Bank, or Platform (on behalf of 101OBeX), and you consent and agree to receive those communications in an electronic form. Electronic communications may be posted on the page you are on now and the pages within the Platform’s website, pages within the 101OBeX website and/or delivered by 101OBeX, Bank, or the Platform (on behalf of 101OBeX) to your email address(es) provided to Platform and us. You may download or print a paper copy of any electronic communication and retain it for your records. All communications in electronic format will be considered to be "in writing," and to have been received no later than twenty-four (24) hours after posting or dissemination, whether or not you have received or retrieved the communication. 101OBeX reserves the right to provide communications in paper format. You agree to give us notice of any change of your postal or email address. 


Your consent to receive communications electronically is valid until you revoke your consent by notifying us of your decision to do so. If you revoke your consent to receive communications electronically, 101OBeX may terminate your right to use the services under these Terms and Conditions and, as a result your ability to use the Bank or Platform services, and you accept sole liability for resulting from an involuntary termination of the Bank’s or Platform’s services, to the extent permitted by law.

You may give notice to 101OBeX by emailing 101OBeX at


“Business Day” for the purpose of these Terms and Conditions means every day is a business day except Saturdays, Sundays, and federal and state holidays.

14. Modifications.

101OBeX may revise these terms of these Terms and Conditions at any time without notice. By using the Platform’s or Bank’s services, 101OBeX services or website, you are agreeing to be bound by the then current version of these Terms and Conditions.

15. Ownership of the website, contents and copyrighted material.

All elements and content included in the website of 101OBeX, and in particular elements that are protected by copyright and/or other rights, are the exclusive and comprehensive property of 101OBeX or its licensers, provided no information stating otherwise is mentioned. Such elements and content are available for browsing purposes only. Information may (in addition to any technically necessary temporary cached copy) be downloaded, printed and reproduced in any form provided the source is stated in full. Any other act or behaviour not explicitly mentioned herein, including without limitation the modification, publication or public display of any element or content included in the website of 101OBeX, requires the prior consent of 101OBeX. The downloading or copying of the website of 101OBeX does not confer any rights in respect of the software, elements or content of the website of 101OBeX.

16. Trademarks.

The 101OBeX logo is a registered trademark of 101OBeX. The website of 101OBeX or its use do not confer any rights whatsoever to the 101OBeX logo. 

17. No representations, warranties and guarantees.

While 101OBeX takes reasonable steps to ensure the reliability or accuracy of the information or content it presents on its website, neither 101OBeX nor any third-party information or content provider can extend any representations, warranties or guaranties, either express or implied, with regard to the accuracy, reliability, completeness or up-to-date nature of any information or content on the website of 101OBeX. Any representations, warranties or guarantees, either express or implied, regarding the website of 101OBeX, its reliability or accuracy and the information and content published on the website are fully disclaimed. The information and content published on the website are provided by 101OBeX exclusively for informational purposes only and are not to be reused for commercial purposes. They may change at any time without notice.

18. Exclusion of liability.

To the fullest extent permitted by law, 101OBeX excludes any liability for any loss or damage (including indirect and consequential loss or damage) resulting from or in any way relating to the website of 101OBeX, the accessing of the website or of individual elements thereof, the use of the website or its elements, or a user being unable to access or prevented from accessing the website or its elements.

19. Links to other websites.

The website of 101OBeX may include links to third-party websites. 101OBeX has not verified all content and elements of such linked websites and, consequently, assumes no liability at all in relation to such websites.

20. Applicable law and jurisdiction.

These Terms and Conditions are governed by, and construed in accordance with, the laws of Madrid (Spain), without regard to the conflict of law provisions thereof. Any dispute arising out of or in relation to these terms and conditions shall be submitted to the exclusive jurisdiction of the courts of Madrid (Spain).