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Terms of Service - EU

Last updated: April, 2026

HOW TO READ THIS AGREEMENT

Capitalized terms have specific meanings, which are defined in section 2. Underlined words in this Terms of Service contain hyperlinks to further information.

1. WHAT THIS TERMS OF SERVICE COVER

These are the terms and conditions ("Terms of Service") that govern the business relation between Transak GmbH ("Transak" or "We" or "Our" or "Us") and any natural or legal person ("You" or "Your").

The Terms of Service shall apply to (i) the use of the website https://eu.transak.com/ ("Website") and any other linked pages, the application programming interface provided by Transak ("API"), the responsive web widget, the data supplied with the software and the associated media ("App"), the software(s), features, content or application services (including but without limitation to any mobile application services) offered from time to time by Us and (ii) the provisions of certain crypto-asset services under Art. 3 (1) (16) of the EU Markets in Crypto Assets Regulation ("MiCAR") by Us to You, namely (a) the exchange of crypto-assets for funds and (b) providing transfer services for crypto-assets on behalf of You (together the "Services").

The following additional documents apply to Your use of Our Services:

(a) Acceptable Use Policy;

(b) Transaction Execution Policy;

With respect to certain specific Services, additional terms and conditions may be applicable to You in addition to the Terms of Service. To the extent applicable You will be asked to agree to such additional terms and conditions.

2. DEFINITIONS

In this Terms of Service:

Agreement means the contractual relation between You and Transak based on the Terms of Service.

API has the meaning ascribed to such term in section 1 and means the application programming interface provided by Transak.

App has the meaning ascribed to such term in section 1 and means the Transak responsive web widget, the data supplied with the software and the associated media.

Business Day means a day other than a Saturday, Sunday, or public holiday in Austria, when credit institutions in Austria are generally open for business.

Crypto Asset(s) means a digital representation of a value or of a right that is able to be transferred and stored electronically using distributed ledger technology or similar technology.

Designated Wallet means the blockchain wallet address You nominate (which may be Your wallet or the wallet of a Merchant) and which is held with a third party provider.

Digital Assets means Crypto Assets and NFTs.

Fiat Currency means the currency which You send/receive via the App that is legal tender that is issued by a central bank or equivalent public authority.

Merchant means a business which has agreed with us to accept payments in Digital Assets from Us on Your behalf for the provision of goods or services from them to You.

MiCAR has the meaning ascribed to such term in section 1.

NFT means a non-fungible cryptographic token (i.e., a unique, transferrable electronic record on a blockchain network and/or distributed ledger). The term NFT does not include Crypto Assets.

NFT Checkout Order has the meaning ascribed to such term in section 12.3.

NFT Checkout Transaction has the meaning ascribed to such term in section 12.3.

NFT-Purchase has the meaning ascribed to such term in section 12.2.

OFAC means the Office of Foreign Assets Control constituted under the laws of the United States of America.

Off-Ramp Transaction has the meaning ascribed to such term in section 11.2.

On-Ramp Transaction has the meaning ascribed to such term in section 11.3.

Order has the meaning ascribed to such term in section 13.1.

Our has the meaning ascribed to such term in section 1.

Purchase Order has the meaning ascribed to such term in section 11.3.

Payment Methods has the meaning ascribed to such term in section 13.3.

Sale Order has the meaning ascribed to such term in section 11.2.

Services has the meaning ascribed to such term in section 1.

Terms of Services has the meaning ascribed to such term in section 1.

Third Party has the meaning ascribed to such term in section 7.

Third-Party Creators has the meaning ascribed to such term in section 12.2.

Third Party-Services has the meaning ascribed to such term in section 22.

Transaction has the meaning ascribed to such term in section 13.1.

Transak has the meaning ascribed to such term in section 1.

Transak Account means the account You have opened with Us in accordance with these Terms of Service.

Transak Materials has the meaning given in section 19.

Us has the meaning ascribed to such term in section 1.

We has the meaning ascribed to such term in section 1.

Website has the meaning ascribed to such term in section 1 and means www.eu.transak.com.

You or Your has the meaning ascribed to such term in section 1.

3 APP, API AND WEBSITE

3.1 Your right to use the App, the API and the Website

In consideration of You agreeing to abide by the Terms of Service, We grant You a non-transferable, non-sublicensable, non-exclusive licence to use the App as Website on Your device and the API subject to these Terms of Service.

3.2 Reservation of rights

The use of the App, the API and the Website are licensed to you as set out above under section 2.1. We reserve all other rights (including our source code and software). We remain the owners of the App, the API and the Website and all connected intellectual property rights.

4. WHO ARE WE AND HOW TO CONTACT US

4.1 Our company information

The Services are provided by Transak Austria GmbH, a limited liability company and licensed crypto asset service provider with its registered office in Kärntner Ring 5-7/757, A-1010 Wien and registered under FN 653255 w in the companies register.

4.2 How to contact us

You can contact us by chat or through our social media platforms via the customer support page Transak Help Center of Our Website or write to us via support chat.

5. WHO CAN USE OUR SERVICES

5.1 You must be 18 years or over

If You are an individual, You must be 18 years or older to use our Services and by opening a Transak Account You declare that You are at least 18 years old. We may ask you at any time to show proof of Your age.

5.2 You must have authority to bind your business

If You are acting on behalf of a legal entity, You must confirm You have the authority to act on behalf of the respective business or entity and bind the respective entity to the Terms of Service.

6. COMPLIANCE WITH LAWS

6.1 Your use of the Transak Account and the Services must not violate any applicable laws

You commit to Us that your opening and/or using of a Transak Account and the Services does not violate any laws applicable to You and that You use Your Transak Account and Our Services only for legal purposes. You are solely responsible for complying with all the applicable laws and any other applicable regulations, including but not limited to anti-money laundering, anti-fraud and Know Your Customer (KYC) guidelines, Combating Financing of Terrorism (CFT) guidelines, tax, data protection and , anti-bribery and anti-corruption laws.

You undertake that You shall, during the use of the Services, be in compliance with the mandates of OFAC, EU and UN Sanctions Offices and acknowledges that You have not directly or indirectly lent, contributed or otherwise made available funds to any of Your affiliates, joint venture partners or any other person or entity for the purpose of financing the activities of any person currently subject to the OFAC Specially Designated Nationals List (SDN), Consolidated Sanctions List, the Additional OFAC Sanctions List, UN, EU and local sanctions lists as applicable at the time of using the Service.

6.2 Indemnification

You shall bear any loss or damage and shall indemnify and hold harmless Transak for any loss and damage incurred by Us, as a result of non-compliance with Your obligations as set out under Section 6.1.

7. YOUR TRANSAK ACCOUNT

Your Transak Account is not a financial account – you cannot hold Fiat Currency with Transak. It is not a blockchain wallet – you cannot hold Digital Assets with Transak. Your Transak Account is required for accessing Our Services.

Your Transak Account allows you to pay Fiat Currency to buy Digital Assets from Us, which we’ll send to your Designated Wallet You hold with another person (a “Third Party”), or to sell Digital Assets to Us in return for a Fiat Currency payment from Us.

The Services we offer to You are subject to a limit on the amount of volume, stated in US Dollar or EUR terms (as the case may be), You may buy or sell from Us, at any given time (e.g. per transaction, daily, monthly). We will set up limits We reasonably believe are necessary to manage the risk of fraud and for legal compliance. Transak reserves the right to change these limits as We deem necessary at Our sole discretion.

Unless You have Our consent in writing, You must not allow anyone to operate Your Transak Account on Your behalf.

8. GETTING STARTED

8.1 Open a Transak Account

To start using Our Services, You must open a Transak Account and complete the registration by providing Your details as prompted.

8.2 Information must be accurate

All information You provide to Us must be complete, accurate and truthful. You must update this information whenever it changes. You are responsible for maintaining the confidentiality and integrity of your Transak account of your username, password and PIN, and any security of the device used to access the platform. We may ask You at any time to confirm the accuracy of Your information and/or provide additional supporting documents to verify Your identity and the information You provided. If You provide any information that is untrue, inaccurate, incomplete, or not current or if We have reasonable grounds to suspect that such information is in violation of applicable law or not in accordance with these Terms of Service(whether wholly or in part), We reserve the right to reject Your registration and/ or indefinitely suspend or terminate Your account and refuse to provide You access to the Website and App. Further, You agree to indemnify and keep us indemnified from and against all claims resulting from the use of any detail/ information/ data that You post and/ or supply to us. We shall be entitled to remove any such detail/ information/ data posted by You without any prior information to You.

Your account and access to the Services may be restricted, suspended, or terminated at any time, for any reason, at our sole discretion.

Except as otherwise required under applicable law, and depending on the Transak entity servicing your jurisdiction, we may, without prior notice:
Change, limit, suspend, or discontinue access to any part of the Transak platform or its features; and

Modify, introduce, or waive any applicable fees relating to the use of services, features, or content made available through the Transak platform.

8.3 Transacting on your own account

All activities under a Transak Account shall be deemed as activities carried out by the registered user. You shall only use the Services to transact on your own account and not on behalf of any other person or entity. Doing so is a contravention of the Terms of Service and we reserve the right to suspend Your Transak Account or terminate the Agreement with immediate effect.

8.4 One account per person or entity

You may only open one Transak Account, unless We have agreed in writing the opening of additional accounts. Transak may refuse the creation of duplicate accounts for the same user at its sole descrition.

9. GETTING TO KNOW YOU

9.1 Customer Due Diligence

We are required by law to carry out necessary security and customer due diligence checks for all customers using the Services (including all parties involved in the transaction such as, but not limited to, the recipient/beneficiary of your transaction). You will not be able to access the Services if You do not successfully complete these verifications. You agree to comply with any request from us for further information and provide such information. In addition, You agree that We may make, directly or through any third party, any inquiries we consider necessary to validate the information you provided to Us, including checking commercial databases or credit reports. To the extent permitted under applicable laws, You authorize us to obtain one or more of your credit reports, from time to time, to validate information provided to us during registration or at any time during the business relationship, including but not limited to instances when You have updated your Transak Account or in the event of a dispute relating to this Terms of Service and activity under Your Transak Account.
10. KEEP YOUR TRANSAK ACCOUNT SAFE

10.1 Recommendations to ensure the Safety of Your Transak Account

In order to ensure the safety of your Transak Account, You shall:

  • Change Your password regularly and ensure that it is not reused across other online accounts.
  • Contact us via support chat if anyone asks for Your login credentials.
  • Always follow recommended password management practice, for example: https://support.google.com/accounts/ansWer/32040?hl=en.
  • Set up 2-step authentication where prompted.
  • Keep Your e-mail account secure.
  • Reach out to us via support chat or otherwise immediately if Your email address becomes compromised.
  • As Your Transak Account password may be reset using Your email address inform us as soon as possible at support chat or otherwise if Your email address becomes compromised.

10.2 Prohibited Actions to Ensure Account Safety

In order to ensure the safety of your Transak Account, you shall not:

  • Disclose your Transak Account credentials, to anyone else. Keep them safe. As a general practice, do not write them down, store them in your wallet or on your phone or any medium that can be lost or stolen.
  • Let anyone access your Transak Account or watch you accessing it.
  • 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.
  • Do anything which may in any way avoid or compromise the 2-step authentication process.
  • Use the wallet address of another person to transfer or receive Digital Assets to or from Us (unless it is a Designated Wallet of a Merchant and you instruct us to transfer Digital Assets to such Designated Wallet on your behalf).

10.3 Contact Us if you suspect your Transak Account has been compromised

If You suspect your Transak Account or other security credentials are stolen, lost, used without your authorisation or otherwise compromised, you shall contact support chat without undue delay. If such an event were to happen, You should change your password as soon as reasonably possible. Any undue delays in notifying Us may affect the security of your Transak Account and may also lead to financial losses on Your part.

11. SELLING AND BUYING CRYPTO ASSETS USING YOUR TRANSAK ACCOUNT

11.1 Availability of Crypto Assets

We determine which Crypto Assets are available for sale and purchase in Our sole discretion. We may decide not to offer or accept certain Crypto Assets.

11.2. How to sell Crypto Assets using your Transak Account

To sell Crypto Assets to Us (a "Off-Ramp Transaction"), You need to log in to Your Transak Account. After You log in to Your Transak Account, You can place a Crypto Asset sale order (a "Sale Order") by pressing "Sell Now" and following the steps as prompted on screen. Your Sale Order is an offer to sell the designated Crypto Asset to Us in exchange for a Fiat Currency payment from Us.

We will charge You Fees for each Sale Order and Off-Ramp Transaction. We will let You know the exact amount when You submit your Sale Order. After reviewing the completeness of the Sale Order and amount of fees charged by Us You can choose to proceed or cancel the order.

You attest that you own and control all Crypto Assets offered for sale to Us and that You are the sole owner of the respective wallet address and that no other person has access to or control over Your wallet.

Providing a false attestation will be considered a violation of the Terms of Service and may result in Transak suspending Your account or taking other actions as set forth in the Terms of Service. Transak also reserves the right to request proof that You own the wallet address provided at any time. The methods used to prove wallet ownership are discretionary to Transak.

We are free to accept or reject Your Sale Order. Once We have accepted Your Sale Order, we will send You a confirmation by email. Each Sale Order is given a unique transfer number and is shown in the transaction history of Your Transak Account.

Upon Transak’s acceptance of a Sale Order You must transfer the Crypto Assets to the assigned wallet(s) within the time limit set by Transak during the sale process. If You send the Crypto Asset to a wrong or incomplete address or to one of Our wallet addresses without first creating a Sale Order, then it might not be possible for Transak to retrieve the Crypto Asset and Transak shall not be responsible or liable for any loss you may incur in those circumstances.

11.3. How to buy Crypto Assets using your Transak Account

To buy Crypto Assets from Us (a "On-Ramp Transaction"), You need to log in to Your Transak Account. After You log in to Your Transak Account, You can place a Crypto Asset purchase order (a "Purchase Order") by pressing "Purchase Now" and following the steps as prompted on screen. Your Purchase Order is an offer to purchase the designated Crypto Asset from Us in exchange for a Fiat Currency payment from You.

We will charge You Fees for each Purchase Order and On-Ramp Transaction and will let You know the exact amount when You submit your Purchase Order. After reviewing the completeness of the Purchase Order and amount of fees charged by Us You can choose to proceed or cancel the order.

You attest that You are the sole owner of the wallet address provided to Transak and that no other person has access to or control over Your wallet

We are free to accept or reject Your Purchase Order. Once We have accepted Your Purchase Order, we will send You a confirmation by email. Each Purchase Order is given a unique transfer number and is shown in the transaction history of Your Transak Account.

Upon Transak’s acceptance of a Purchase Order, Transak will transfer the purchased Crypto Asset to Your Designated Wallet as soon as funds have been settled to Transak which in the case of a bank account or credit or debit card may take up to five (5) business days. If your Designated Wallet is a Merchant wallet, the Merchant must be on our approved list of Merchants.

If You provide us with a wrong or incomplete address for the Designated Wallet, then it might not be possible for Transak to provide the Crypto Asset and Transak shall not be responsible or liable for any loss you may incur in those circumstances.

11.4 Processing time of your Purchase Order or Sale Order

The estimated time it will take Us to process your Purchase Order or Sale Order is notified to You when You complete the setup of Your payment order.

We carry out verification checks, and these checks may increase the time it takes to process Your Purchase Order or Sale Order. We are not and will not be held responsible for any delays as a result of carrying out those checks.

11.5. Publication

Transak will publish aggregated information about the transactions concluded by it, such as transaction volumes and prices to your account and via the transaction confirmation email you will receive once the transaction has been completed.

12. BUYING NFTs USING YOUR TRANSAK ACCOUNT (NFT Checkout)

12.1 Range of NFTs

Transak cooperates with certain Merchants offering the sale of NFTs. These Merchants determine which NFTs are available for purchase in their sole discretion.

12.2 Counterparty and details on Service

The agreement to purchase an NFT is concluded between You as buyer and the Merchant as seller in exchange of Crypto Assets ("NFT Purchase").

Transak is facilitating such NFT Purchase as follows: In order to settle the NFT Purchase in Crypto Assets You (i) buy the required Crypto Assets from Us and (i) instruct Us to transfer these Crypto Assets directly to the wallet of the Merchant selling the NFT to You. The NFT is owed by the Merchant and not by us. We therefore accept no liability with respect to the NFT Purchase.

You agree and understand that the NFTs for sale via Our Website have been created and/or minted by third-party websites, individuals, or entities ("Third-Party Creators"). Transak bears no responsibility with respect to ownership or authenticity of the NTFs transacted via Our Website.

Transak does not exercise control over the content, quality, value or authenticity of NFTs created by Third-Party Creators. For NFTs transactions, you bear full responsibility for verifying the identity, legitimacy, and authenticity of NFTs you purchase. Notwithstanding indicators and messages that suggest verification, Transak makes no claims about the identity, legitimacy, or authenticity of NFTs.

You understand that You may encounter NFTs that contain explicit, offensive, or inappropriate content, and You agree that Transak is not liable for such content.
Users must comply with the terms and conditions set by Third-Party Creators when purchasing, using or transferring NFTs created by them (if any). Transak is not responsible for any breaches of Third-Party Creator’s terms by You.

You acknowledge that NFTs created by Third-Party Creators may be protected by intellectual property rights, including copyright. Users understand it is their obligation not to infringe upon these rights and shall respect the intellectual property of Third-Party Creators.

While we may facilitate the purchase of NFTs, this functionality is provided without any guarantees of uptime, functionality, or serviceability associated with the NFTs.

Transak is not responsible for repairing, supporting, replacing or maintaining any website, NFT marketplace, or network hosting any artwork, digital content, or other associated image or information connected or otherwise linked to the NFT (Associated Content). Transak does not have an obligation to maintain any connection or link between NFTs and the Associated Content. The Associated Content may be removed from the NFT at any time and for any reason by third parties who control the Associated Content. Transak is not responsible for any losses due to any Associated Content being disconnected or otherwise amended.

NFTs exist only by virtue of the ownership record maintained in the applicable blockchain network and/or distributed ledger. Any transfer of title that might occur in any unique digital asset occurs on the decentralized ledger within such blockchain network and/or distributed ledger. We do not guarantee that we can effect the transfer of title or right in any NFTs, or that any associated payment will be successful.

12.3. How to buy NFTs using your Transak Account

To buy NFTs with Crypto Assets from Merchants, You need to log in to Your Transak Account. After You log in to Your Transak Account, You can place a NFT checkout order (a "NFT Checkout Order") by pressing "NFT Checkout Now" and following the steps as prompted on screen.

We will charge You Fees for each NFT Checkout Order and Crypto Asset purchase and transfer transaction (a "NFT Checkout Transaction") and will let You know the exact amount when You submit your NFT Checkout Order. After reviewing the completeness of the NFT Checkout Order and amount of fees charged by Us You can choose to proceed or cancel the order.

We are free to accept or reject Your NFT Checkout Order. Once We have accepted Your NFT Checkout Order, we will send You a confirmation by email. Each NFT Checkout Order is given a unique transfer number and is shown in the transaction history of Your Transak Account.

Upon Transak’s acceptance of a NFT Checkout Order, Transak will transfer the purchased Crypto Asset to the Merchant wallet designated by You as soon as funds have been settled to Transak which in the case of a bank account or credit or debit card may take up to five (5) business days. The Merchant must be on our approved list of Merchants.

If You provide us with a wrong or incomplete address for the Designated Wallet, then it might not be possible for Transak to provide and transfer the Crypto Asset and Transak shall not be responsible or liable for any loss you may incur in those circumstances.

13. PAYMENTS

13.1 Full Payment requirement for provision of Services

We will not process Your Sale Order, Purchase Order and (each an "Order") and Off-Ramp Transaction, On-Ramp Transaction or NFT Checkout Transaction (each a "Transaction") until We have received the fees due in relation thereto. We are not and will not be held responsible for any delays of the transfer of funds to Us by Your bank or payment service provider.

13.2 When is Your payment received

If Your payment is received by Us after 5pm on a Business Day or not on a Business Day, Your payment will be deemed received on the following Business Day.

13.3 Payment Methods

You may be presented with one or more methods of payment to pay Us for processing an Order and executing a Transaction, such as, bank transfer, credit cards or debit cards (in this Agreement, we will call these methods "Payment Methods"). The number of Payment Methods made available to You will depend on a number of factors including the country where You live and Your verification status with Us. Payment Methods are not part of Our Services, they are services provided by third parties for example, the card provider which issued You with your credit or debit card. Transak is not a party to any such agreement and assumes no responsibility for the content, accuracy, or availability of any payment method you choose to use. Furthermore, we cannot guarantee the use of any particular Payment Method and may change or stop offering a Payment Method at any time without notice to You.

By initiating a Transaction with your selected Payment Method, you authorize Us and/or our applicable third-party service providers, to charge or debit your selected Payment Method for the total amount of the Transaction, including without limitation all applicable fees and taxes. In the event of any refund, chargeback, or other adjustment related to your Transaction, you authorize us to credit or deduct the amount, as applicable, from your Payment Method. Notwithstanding anything to the contrary, Transak reserves the right to, in its sole discretion, suspend, delay, redirect, or cancel any Transaction (including an order submitted by you and accepted by Transak) at any time and for any reason. For example, and without limitation, we may do so if we suspect any risk of fraud, crime, breach of this Terms of Service, or illicit activity. If your payment is not successful, if your payment method has insufficient funds or if you reverse a payment made from funds in your bank account, you authorize Transak, in its sole discretion, to either cancel the Transaction or to debit your other Payment Method(s) in any amount necessary to complete the transaction on its original terms. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, non-sufficient funds (NSF) or similar fees charged by your financial services provider. We reserve the right to refuse to process or to cancel or reverse any Transaction in our sole discretion, even after funds have been debited from your Payment Method(s), if we suspect the transaction meets any criteria set forth in this Terms of Service. In such instances, Transak will reverse the Transaction and we are under no obligation to allow you to reinstate any Order at the same price or under the same terms as the cancelled transaction.

13.4 Payment instrument must be in Your name

Any payment instrument (for example, the credit card or debit card) You use to pay for a Service with Your chosen Payment Method must be in Your name. By adding a Payment Method, you represent to us that you are an authorized user of that payment method.

In the case of Sale Order, You are responsible for ensuring the accuracy of the payment details that You provide to Us. You must ensure that the wallet used to send the Crypto Asset is owned by and is registered in Your name.

Once Transak has made payment of Fiat Currency to Your nominated bank account, the payment cannot be refunded and Transak shall not be liable for any mistakes or errors on Your part leading to any financial losses.

13.5. Payments to Transak no cash advances

Payments to Transak should not be treated as 'cash advances' by Your card provider. If Your card provider decides, as some have in the past, to treat payments to in relation to Transactions as 'cash advances', that is a matter entirely between You and Your card provider. We suggest You monitor charges on Your card to ensure this is not happening, and if it does to challenge Your card provider and/or use an alternative card for any Transactions. In any event Transak is not liable for any decision of your card provider to act in this way.

13.6 Taxes

You are responsible for any taxes which may be applicable to payments You make or receive, and it is Your responsibility to collect, report and pay the correct tax to the appropriate tax authority.

To comply with applicable tax reporting and exchange-of-information rules for crypto-assets (including the EU framework DAC8 and its Austrian implementing provisions), We may be required to collect, verify and report certain information regarding You and Your crypto-asset transactions to the competent Austrian tax authority, which may exchange such information with tax authorities in other jurisdictions.

14. PROVISION OF INFORMATION

14.1. Confirming Orders to Buy or Sell crypto assets

You must carefully enter and review all of the details prior to submitting an Order, including the quantity and offered price. Transak will present you with pricing for your Order. If you accept the pricing displayed, you can submit the Order. Once You submit Your Order, You are bound to the terms of that Order. You cannot cancel Your Order once Your payment account provider has executed the Fiat Currency transfer to Us or You have successfully transferred Crypto Assets to the assigned wallet address. You do not have the right of withdrawal for Digital Assets traded at a distance, as the price of the Digital Asset depends on fluctuations in the financial market over which we have no control and which may occur within the withdrawal period.

Transactions in Digital Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. Once You send Digital Assets to an address, you may lose access to your Digital Assets temporarily or indefinitely. For example, an address may have been entered incorrectly, or an address may belong to an entity that will not return your Digital Assets. Digital Assets mistakenly sent to an address that We do not control may not be recoverable. Transak is not responsible or liable for erroneous, accidental, or unauthorized Digital Asset transfers that you effectuate.

14.2. You must ensure the information You provide to Us is correct

You must make sure that the information You provide when making Orders is accurate. If We have processed Your Order in accordance with the information You have provided to Us it will be considered correctly completed.

14.3. What happens if You provide Us with incorrect information

If You provide incorrect information with Your Order, We will not be responsible for any loss.

15. EXCHANGE RATES

15.1 Exchange rate

Transak uses a number of sources to determine the price at which it purchases or sells Crypto Assets and NFTs. For example, the last-traded price from a major exchange may be used (with a small spread applied, to account for the spread in the order book). Transak strives to provide you with competitive pricing and transparency. A breakdown of our fees can be found here. By accepting our Terms of Service, You understand that the buying and selling of Digital Assets carries an exchange rate risk where the Digital Assets can either appreciate or depreciate in value. Transak reserves the right to change rate providers at any time without notice to You.

16. MAINTAINING YOUR TRANSAK ACCOUNT

16.1 Transaction history is displayed on your Transak Account

All Your purchases and sales of Digital Assets are recorded in the order history section of Your Transak Account. You may access this information after You log in to Your Transak Account. We have allocated a reference number called order ID to each transaction, and You should quote this reference number when communicating with Us about a particular order.

16.2 Check Your Transak Account regularly

You must check your Transak Account regularly and carefully and contact us immediately if You don't recognise a transaction or think We have made a payment incorrectly.

17. RISK DISCLOSURE, DISCLAIMER

17.1 Trading Risks and Regulatory Warnings

(please refer to the Risk Warnings Section of our website for more details on risks associated with crypto assets)

The use of the Transak platform and the Service may entail risks, including but not limited to the following:
Digital Currencies and Digital Assets are speculative investments and involve a substantial degree of personal risk for those who purchase or sell them through Our Services. The value of a Digital Assets acquired through Our Services can quickly increase or decrease at any time, and it may even fall to zero. This means there is the risk of complete loss of capital with no legal recourse. There can be no assurance that any cryptocurrency, or other Digital Asset is or will be viable, liquid, or solvent.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

The purchase and sale of Digital Assets through Our Services involves significant risk and can result in substantial losses to You and Your invested capital. You should not invest more than You can afford to lose and should ensure that you fully understand the risks involved. You should therefore carefully consider whether trading or holding Digital Currency and Digital Assets is suitable for You, taking into consideration Your own financial situation and attitude to risk. When dealing in Digital Currencies and Assets , you may not have access to same statutory dispute resolution or compensation schemes that apply to traditional financial products such as financial ombudsman services or Dealing or holding Digital Assets is not covered by the EU Deposit Insurance Scheme nor the Financial Services Compensation Scheme (FSCS). The availability of any consumer protection, complaint, or dispute resolution mechanisms will depend on the laws and regulations of your jurisdiction.

Transak may provide educational information about Digital Assets, in order to assist users in learning more about Digital Assets such as articles, links to third-party content, news feeds, tutorials, and videos. The information provided on the Website or any such third-party sites does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and You should not treat any of the Website's content as such. Transak will not be held responsible for the decisions You make to buy, sell, or hold Digital Assets based on the information and/or Services provided by Transak. Transak does not make any representations or recommendations regarding the advisability or otherwise of the purchase or sale of Digital Assets. You should seek your own independent financial, legal, regulatory, tax or other advice before making an investment in the digital assets. In the event that you choose not to seek advice from a relevant adviser, you should consider whether the investment or product is suitable for you.

Fraud Risk: You must at all times make sure you check your connections and websites and applications you access. Cryptocurrency markets are rife with scams and fraudulent schemes, exploiting the pseudonymous nature of transactions and the lack of consumer protections. You acknowledge you are aware of the prevalence of fake crypto-asset offerings, phishing sites and “pump-and-dump” schemes that promise unrealistic returns, leading investors to lose funds and personal data.

Cyber security risks: You understand Crypto-assets and related infrastructures are prime targets for hacking, posing significant threats to operational continuity and client holdings. You acknowledge that due to the technological nature of cryptocurrencies and related services, there is an increased risk of hacks and cybercrime connected to this industry.

EU regulators have issued a warning to consumers on the risks associated with digital assets available here: https://www.esma.europa.eu/sites/default/files/library/esa_2022_15_joint_esas_warning_on_crypto-assets.pdf.

17.2 You accept the risks of purchasing and holding Digital Assets through Our Services

You agree and accept the risks associated with purchasing and holding Digital Currency through Our Services outlined in this section 16, including any risks associated with fluctuations in the relevant exchange rates over time and partner platform. You agree that you will not use our Services for speculative trading.

17.3 Disclaimer

NOTWITHSTANDING ANY OTHER PROVISION, THE PLATFORM, SERVICES AND MATERIALS, OR ANY OTHER INFORMATION OR SERVICE PROVIDED BY THE PLATFORM, ARE OFFERED ON AN "AS IS" AND "AS-AVAILABLE" BASIS, WITHOUT ANY WARRANTY, REPRESENTATION, OR INDEMNITY OF ANY KIND, WHETHER EXPRESS, IMPLIED, ORAL, WRITTEN, STATUTORY, OR OTHERWISE. THIS INCLUDES, BUT IS NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR ANY PURPOSE, OR NON-INFRINGEMENT, AND WARRANTIES FOR THE USE, SUFFICIENCY, RELIABILITY, TIMELINESS, QUALITY, SECURITY, SAFETY, SUITABILITY, AVAILABILITY, COMPLETENESS, OR ACCURACY OF THE PLATFORM, SERVICES, MATERIALS, OR ANY OTHER INFORMATION.
TRANSAK, ITS AFFILIATES, AND THEIR RESPECTIVE DIRECTORS, PARTNERS, OFFICERS, EMPLOYEES, AGENTS, AND THIRD PARTIES ARE NOT LIABLE FOR ANY LOSS OF DIGITAL CURRENCIES, REVENUE, PROFITS, FUNDS, FIAT CURRENCY BALANCES, ASSETS, OR DATA, NOR FOR ANY DIRECT OR INDIRECT DAMAGES RESULTING FROM THE USE OR ATTEMPTED USE OF THE PLATFORM, SERVICES, MATERIALS, OR ANY INFORMATION. THE PLATFORM DISCLAIMS LIABILITY FOR ANY PARTY'S ACTIONS OR OMISSIONS IN THE USE OF OR RELIANCE UPON THE PLATFORM, SERVICES, MATERIALS, OR ANY OTHER INFORMATION. THIS INCLUDES, WITHOUT LIMITATION, INACCURACIES IN OR OMISSIONS OR INTERRUPTIONS OF PRICE DATA, AS WELL AS ERRORS OR DELAYS IN THE TRANSMISSION OF PRICE DATA.
THE PLATFORM, SERVICES, MATERIALS, OR ANY OTHER INFORMATION MAY BE SUBJECT TO RESTRICTIONS, LIMITATIONS, DELAYS, AND OTHER INHERENT PROBLEMS ASSOCIATED WITH THE USE OF THE INTERNET AND ELECTRONIC COMMUNICATIONS, OR WITH BUSINESSES OPERATING IN REGULATORY UNCERTAINTIES. WE CANNOT GUARANTEE THAT YOUR USE OF THE PLATFORM OR SERVICES, OR ANY PART THEREOF, WILL ALWAYS BE AVAILABLE, UNINTERRUPTED, OR ERROR-FREE. On best effort basis We keep you updated of such situations and we will either notify you through a message sent to your registered email address or via a public notice published on Our Website.

18. CLOSING YOUR TRANSAK ACCOUNT

18.1 You may close your Transak Account at any time

You may end this Agreement and close Your Transak Account at any time by contacting us through chat Support.

18.2 You must not close Your Transak Account to avoid an investigation

You must not close your Transak Account to avoid an investigation.

18.3 You are responsible for Your Transak Account after closure

You agree that You will continue to be responsible for all obligations related to Your Transak Account even after it is closed.

19. INTELLECTUAL PROPERTY RIGHTS

While You are using our Services, You may use the Transak Materials only for Your personal use and solely as necessary in relation to Transak Services.

"Transak 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 through Our Services, or available for download from our Website. You may not, and may not attempt to, directly or indirectly:
(i) transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Service or the Transak Materials to any person or entity;
(ii) 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 Transak Materials;
(iii) modify, copy, tamper with or otherwise create derivative works of any software included in the Transak Materials; or
(iv) reverse engineer, disassemble, or decompile the Transak Materials or the Services or apply any other process or procedure to derive the source code of any software included in the Transak Materials or as part of the Services.

You acknowledge and agree that Transak (or Transak's licensors) owns all legal and proprietary right, title and interest in and to the Services, including any intellectual property rights which subsist in the Services (whether those rights happen to be registered or not, and wherever in the world those rights may exist). You further acknowledge that the Services may contain information which may be confidential and that You shall not disclose such information without Transak's prior written consent.

Unless You have agreed otherwise in writing with Transak, nothing in the Agreement gives You a right to use any of Transak's trade names, trademarks, service marks, logos, domain names, and other distinctive brand features. Unless You have been expressly authorized to do so in writing by Transak, You agree that in using the Services, You will not use any trade mark, service mark, trade name, logo of any company or organization in a way that is likely or intended to cause confusion about the owner or authorized User of such marks, names or logos.

20. OUR RESPONSIBILITY FOR LOSS OR DAMAGE

20.1 Limitation of Liability

We shall exercise due care in providing out services. We are not responsible for persons or systems outside our sphere of influence and we do not warrant or guarantee in any form the availability of the Services.

We are liable for material contractual obligations, including the fault of vicarious agents. Material contractual obligations are those without the fulfilment of which the proper execution of the business relationship in accordance with this Terms of Service would be impossible.

We shall be liable only for damages caused by intentional or grossly negligent conduct. Liability for slight negligence shall be excluded. We will not be liable for slight negligence. You will get no get compensated for lost profit, financial losses, secondary damages, as well as damages from third-party.

This does not apply to consumers in case of personal injury and damages arising from a breach of material contractual obligations of the Agreement.

20.2 We are not liable for business losses

If You use Our Services for any commercial or business purpose We will have no liability to You for any loss of profit, loss of business, business interruption, or loss of business opportunity.

20.3 We are not liable for technological/cyber attacks

We take reasonable measures to safeguard our Services; however, we will not be liable for any loss or damage arising from malicious software, cyber-attacks, or other harmful material that may affect your equipment, programs, data, or other proprietary material, except where such loss or damage results directly from our negligence or wilful misconduct

20.4 We have no control over websites linked to and from our Website

We have no control over websites linked to and from our Website. We assume no responsibility for their content or any loss or damage that may arise from your use of them.

20.5 Force Majeure

We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond Our reasonable control, including but not limited to, significant market volatility, act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, pandemic, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software,, other catastrophe or any other occurrence which is beyond Our reasonable control and shall not affect the validity and enforceability of any remaining provisions.

20.6 You are liable for breaking this Agreement or applicable laws

You shall indemnify and hold Transak, its affiliates and any other related or third parties involved with Transak in any manner whatsoever, harmless from and against all losses arising from claims, demands, actions or other proceedings as a result of:
Fraud, negligence and willful misconduct by You in the use of the Services;
Violation of applicable laws in the use of the Services and/ or in the conduct of the business of the User;
Breach of Your obligations under this Terms of Service including penalties, fines, charges, or any other actions as a result of breach or violation by the User and;
Disputes raised by a User's customer in relation to a transaction where such dispute is not attributable to the Services;

20.7 What happens if you owe us money

In the event you are liable for any amounts owed to us, you agree to reimburse us. We may also recover amounts You owe us through legal means, including, without limitation, through the use of a debt collection agency.

21. ACCESSING OUR SERVICES

We will try to make sure Our Services are available to You when You need them. However, We do not guarantee that Our Services will always be available or be uninterrupted. We may enable or disable any or all of the Services, your access to such Services or close your Transak Account in our sole discretion. We reserve the right to change, suspend or discontinue any aspect of the Services at any time, including hours of operation or availability. Except as required by applicable law, we reserve the right to take such measures without prior notice and without liability. We may also terminate or suspend any Transak Account that exceeds the limitations defined under Article 8.4 of these Terms, and liquidate, freeze or refund orders and funds associated with any duplicate Transak Account. We may limit use of a Transak Account to certain hardware devices and/or supported software and we do not guarantee that your Transak Account will be accessible through all manufacturers of electronic devices or software developers. Access to your Transak Account may also require certain hardware, software and security protocols, which could result in your inability to access your Transak Account.

22. THIRD-PARTY PRODUCTS AND SERVICES; OTHER USERS

You acknowledge that the Service will enable or assist you to access, interact with, and/or purchase services from several supported platforms and other third parties via third-party websites or applications including a third party payment processor to process any payment between You and Transak for purchase of Digital Assets (collectively, "Third-Party Services"). Such Third-Party Services are not under the control of Transak, Transak does not review, approve, monitor, endorse, warrant, or make any representations with respect to Third-Party Services and is not responsible for any Third-Party Services. You use all Third-Party Services at your own risk, and should apply a suitable level of caution and discretion in doing so. Any use of Third-Party Services is governed solely by the terms and conditions of such Third-Party Services and any contract entered into, or any transaction completed via any Third-Party Services, is between You and the relevant third party, and not with Transak. You shall comply in all respects with all applicable terms of the Third-Party Services that You access or subscribe to in connection with the Services. If at any time any Third-Party Services cease to make their programs available to us on reasonable terms, We may cease to provide such features to You without entitling You to refund, credit, or other compensation. A list of Third Party Products and Services is available here.

23. INFORMATION SECURITY AND SECURITY SYSTEMS

23.1 Your Security Responsibilities

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. We cannot guarantee that Our Services will be free from bugs or viruses, however we endeavour to the best of our capabilities and knowledge to do so

23.2 Prohibition of Service Misuse

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 applicable legislation We will report any such breach to the relevant law enforcement authorities and We will co-operate with those authorities by disclosing Your identity to them and actions we have identified have been taken by you to cause harm to Us, our clients and/ or Third Parties associated with us. In the event of such a breach, Your right to use our Website and/or Our Services will cease immediately.

23.3 Security Systems

We are committed to the highest security standards through a comprehensive, multi-layered approach, which includes but is not limited to the following components:

 

Encryption of sensitive information in transit using industry-standard protocols and, where appropriate, encryption at rest;

Access controls, authentication mechanisms (including multi-factor authentication where applicable), and least-privilege principles;

Monitoring and logging of systems to detect suspicious or unauthorized activity;

Network security controls and safeguards designed to protect against unauthorized access;

Periodic security assessments and vulnerability management processes;

Incident response and business continuity procedures.

 

24. DURATION OF THIS AGREEMENT AND SUSPENSION OUR SERVICES

24 .1 Term

The Agreement is concluded for an indefinite period of time.

24.2. Ending the Agreement by giving prior notice

Both, You and We may end the Agreement by giving 30 days’ prior notice. Such ordinary termination results in the termination of all Services and closure of your Transak Account.

24.2. Ending the Agreement with immediate effect

Both, You and We have the right to terminate the Agreement with immediate effect for good cause.

24.2 We may suspend or close Your Transak Account without notice in certain circumstances

We may at any time suspend or close your Transak Account and/or end this Agreement without notice if:
- You breach any provision of this Agreement or documents referred to in this Agreement such as the Terms of Service, Privacy Policy and others;
- We are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency;
- We have reason to believe You are in breach of any applicable law or regulation; or
- We have reason to believe You are involved in any fraudulent activity, money laundering, terrorism financing or other criminal or illegal activity.
We reserve our right to terminate, suspend or restrict Your access to the Website, as well as take other actions described in these terms, at any time to protect You, other users and/or Us as we deem necessary.

24.3 We may suspend your Transak Account for security reasons

We may suspend Your Transak Account or restrict its functionality if We have reasonable concerns about:
(a) the security of Your Transak Account; or
(b) suspected unauthorised or fraudulent use of Your Transak Account.

24.4 We will give You notice of suspension where possible

We will give You notice of any suspension or restriction and the reasons for such suspension or restriction as soon as We reasonably can, either before the suspension or restriction is put in place or (if that is not possible) as soon as reasonably practicable after, unless notifying You would be unlawful or compromise our reasonable security measures. We will lift the suspension and/or the restriction as soon as reasonably practicable after and if the reasons for the suspension and/or restriction have ceased to exist.

24.5 You cannot use the App if this Agreement ends

On termination for any reason all rights granted to You in connection with the App or the Website shall cease, You must immediately delete or remove the App from Your devices.

    • Death of Account Holder

For security reasons, if We receive legal documentation confirming the death of a User or other information leading us to believe a User has died, We will close the respective Transak Account.
In limited circumstances, such as where a refund is due or an order remains unprocessed, we may temporarily hold funds (whether in fiat currency or Digital Assets) on your behalf. If we have no record of you accessing the Services for an extended period and are unable to contact you, applicable law may require us to deliver any such funds to the relevant state or jurisdiction as unclaimed property.

25. OUR RIGHT TO MAKE CHANGES

(a) Changes to these terms and conditions require Your consent. In the cases set out below under paragraph (b), this consent can be obtained in the following way: We will notify You of the intended changes at least 2 months before the proposed date of their entry into force; in this context, the Terms of Service affected by the changes and their new wording will be presented in a direct (side-by-side) comparison or as a proposed amended version. The information (“amendment offer”) will be communicated to You in paper form or on another durable medium (see paragraph b). The changes are deemed to have been accepted by You unless You submit an objection in writing or via e-mail or via the App not later than the proposed effective date of the changes. As part of the amendment offer, We will remind You that acceptance is presumed if no objection is received by the relevant date. Until the changes actually come into effect, You have the right to terminate the contract free of charge without giving notice, provided You are a consumer. We will also point this out in the amendment offer. In addition, We will publish the direct comparison of the old and new T&C as well as the complete amended version of the new T&C on Our website. In Our amendment offer, We will also point out that You may receive the complete new Terms of Service upon request.

 

(b) The notification of the changes offered in accordance with paragraph (a) shall be made by e-mail to the last e-mail address provided by You. The notification can otherwise be made in paper form or on another durable data medium if this has been agreed with the You. Notification can also be made via the App, provided that You will be informed of the delivery of the by e-mail or SMS.

 

(c) If You are a consumer, We may only offer changes in the manner provided for in paragraph (a) subject to the provisions in paragraph (b). Such changes must (i) be necessary to comply with statutory, official or judicial requirements or (ii) be to Your advantage and in any case (c) not reduce Our main service obligations under the Agreement.

 


26. HOW WE MAY CONTACT YOU

26.1 Preferred Contact Methods

We, Our affiliates and service providers will usually contact You via the preferred method indicated by You as recorded in your Transak Profile (telephone or email). For this purpose, You must at all times maintain at least one valid contact telephone number and email address in Your Transak Account profile. You should check Your incoming messages regularly and frequently, these emails/messages may contain links to further communication on our Website. If You don't maintain contact details or check Your email and other methods of communications, You will miss messages about Your transactions and Our Services or this Agreement. We cannot be liable for any consequence or loss if You don't keep your contact details updated and available to you at least periodically. If We have reasonable concerns either about the security of Your Transak Account, or any suspected or actual fraudulent use of Your Transak Account, We will contact you via telephone, email, or both (unless contacting You would be unlawful or compromise Our reasonable security measures).

26.2 Other ways We may contact You

(a) In addition to communicating via email or telephone, We and/Our service providers may contact You via written post where appropriate. If You use any mobile services, We may also communicate with You via calls or SMS. Any communications or notices sent by:
(i) Email will be deemed received by You on the same day if it is received in Your email inbox before 5pm on a Business Day. If it is received in Your email inbox after 5pm on a Business Day or at any other time, it will be deemed received on the next Business Day.
(ii) Post will be deemed received three days from the date of posting for UK or EU local post or within five days of posting for international post.
(iii) Call/SMS will be deemed received the same day.
(b) Where legislation requires Us to provide information to You on a durable medium, We 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. You are advised to keep copies of all communications We send or make available to You.
(c) If You need a copy of the current Agreement or any other relevant document, please contact Us at support chat.

26.3 This Agreement is made in the English language

Documents or communications may be provided in multiple languages as required by applicable law. In the event of any inconsistency or conflict between a translated version and the English version, the English version shall prevail.

27. COMPLAINTS

If you have any complaints about Us or Our Services, You may contact us via support chat or via chat on Our website at http://support.transak.com/hc/en-us.

More details on how we treat complaints and how You may raise your complaint with us are available here.

28. OTHER IMPORTANT TERMS

28.1 Nobody else has any rights under this Agreement

This Agreement is between You and Transak. No other person shall have any rights to enforce any of its terms. Neither party to this Agreement will require the agreement of any other person in order to end or make any changes to this Agreement.

28.2 Offsetting

By Us: We are entitled to offset all of the Your claims against Us, to the extent they are attachable, against all of Your liabilities owed to Us.

By You: If you are a consumer You are entitled to offset Your liabilities, in case (i) We are illiquid or (ii) if Your claim is related to a liability owed by Us, which has been confirmed by a valid and enforceable judgment, or has been acknowledged by Us. If You are an entrepreneur You hereby unconditional and irrevocably waive Your right to offset Your liabilities also in such cases.

28.3 Agreement Transferability

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 Transak Account) without Our prior written consent. We reserve the right to transfer, assign or novate this Agreement (including the Transak Account) or any right or obligation under this Agreement at any time without Your consent. This does not affect your rights to close your Transak Account under section 18 .

28.4 No waiver of rights

Even if We delay in enforcing Our rights under the Agreement, We can still enforce it later. If We delay in asking You to do certain things or in taking action, it will not prevent Us taking steps against You at a later date.

28.5 Governing Law

The Agreement and every Transaction under this Terms of Service shall be governed by and construed in accordance with Austrian law excluding the UN Convention on Contracts for the International Sale of Goods and Austrian conflict of law rules of Austrian international private law. For consumers, this choice only applies insofar as consumers enjoy the protection of the mandatory provisions of the law that would be applicable in the absence of the choice of law. In the case of actions against consumers, the competent court is the court at the consumer's domicile, habitual residence, or place of employment. Otherwise, the competent court for 1010 Vienna, Austria is agreed as the place of jurisdiction.