Dated – 13 May 2019

MoolaFX Terms of Use

The Terms of Use stated herein (collectively, the “Terms of Use” or this “Agreement”) constitute a legal agreement between you and MOOLA HOLDINGS PTE. LTD. (UEN NO. 201830019W) (the “Company”). The Company provides its Services through its “MoolaFX” platform to our users and customers (“you”, “your”), conditioned upon your acceptance of all terms, conditions, policies, and notices stated herein. In order to use the Services you must agree to the Terms of Use that are set out below. By using the Moola Machines, mobile applications or website supplied to you by the Company (collectively, the “Applications”), and downloading, installing or using any associated software supplied by the Company which overall purpose is to enable persons to buy or sell foreign currencies with our third party licensed money changers or remittance agents (collectively, the “Services”), you hereby expressly acknowledge and agree to be bound by the Terms of Use, and any future amendments and additions to the Terms of Use as published from time to time at or through the Applications.

All access to and use of the contents and Services provided on the Applications shall be governed by the terms and conditions contained in these Terms of Use, which shall constitute legally binding obligations on you in consideration for the access granted by the Company to use the Applications and the Services. Unless otherwise provided, any updates, enhancement, variation or addition to any Service, shall be subjected to these Terms of Use. By using the Applications, you agree to be legally bound by these Terms of Use and the Company’s Privacy Policy (here), which shall take effect upon your first access of any of the Applications. If you do not accept any term in these Terms of Use or do not agree to be legally bound by these Terms of Use and the Privacy Policy, please do not access and/or use any of our Applications or our Services.


You may not obtain or attempt to obtain unauthorised access to password protected and/or secure areas of the Applications and/or Services, or to any other protected information, through any means not intentionally made available by the Company for your specific use. A breach of this provision may be an offence under the Computer Misuse Act (Chapter 50A) of Singapore.

1. Eligibility

1.1. You represent and warrant that if you are registering for an account to use our Services as an individual, you are 18 years of age or older, and that you are fully capable and competent to enter into and to comply with this Terms of Use. Individuals under the age of 18 may access and view the Applications but may not order Services. We may require at any time that you provide evidence of your age. If you are not a consumer, you confirm that you have authority to bind any business or corporation on whose behalf you use our Applications or our Services, and that business or corporation accepts these terms.

1.2. If you are below 18 years of age, you must obtain consent from your parent(s) or legal guardian(s), their acceptance of these Terms of Use and their agreement to take responsibility for your actions, any changes associated with your use of any of our services, and your acceptance and compliance with these Terms of Use. If you do not have consent from your parent(s) or legal guardian(s), please immediately discontinue your use of our Applications or Services.

1.3. You must also meet all customer due diligence requirements imposed by the Company, the regulatory authorities and all applicable laws.

2. Using Our Applications

2.1. The information and materials contained in this Application are provided on an “as is” and “as-available” basis without representation and/or warranty of any kind, either express or implied. In particular, no warranty or responsibility is assumed by the Company or our related third party money changers or remittance agents regarding non-infringement, security, accuracy, completeness, adequacy, reasonableness, fitness for a purpose, or freedom from computer viruses in connection with the information and materials provided. The Company and our related third party money changers or remittance agents do not accept any liability for any loss, damage, cost or other expense, whether wholly or partially, directly or indirectly, arising from any error, inaccuracy, or omission in relation to the Applications to the extent that such liability is not excluded by law.

2.2. The Company reserves the right, at its sole discretion, to do any of the following, at any time, without notice:

a) amend, modify, add, delete, or revise in any way any information of this Applications and/or these Terms of Use;
b) determine, impose, and vary from time to time the scope and or any restrictions on the use of this Application to be made available;
c) suspend or terminate operation of or access to the Applications, or any portion of the Applications, for any reason;
d) expand, add, modify, reduce, remove, or change functionalities in the Applications, or any portion of the Application;
e) interrupt the operation of the Applications, or any portion of the Application, as necessary to perform maintenance, error correction, or other changes; and
f) purge your data from our Applications at any time without notice, and you agree that we will not be liable for any loss alleged to result from purging, deletion, or failure to store your data.

2.3. You shall not commit or encourage a criminal offence, transmit or distribute a virus, worm, logic bomb or post any other material on our Applications which is malicious, technologically harmful, in breach of confidence or in any way offensive or obscene, hack into any aspect of the Service, corrupt data, cause annoyance to other users, infringe upon the rights of any other person’s propriety rights, send any unsolicited advertising or promotional material or attempt to affect the performance or functionality of any computer facilities of or accessed throughout our Applications.

2.4. You may not decompile, reverse engineer or otherwise attempt to discover the source code of the Website or our Services.

2.5. You may not hack into, interfere with, disrupt, disable, over-burden or otherwise impair the proper working of our Applications, our Services or our servers, which shall include but is not limited to denial-of-service attacks, spoof attacks, session hacking, sniffing, tampering, spamming, reverse engineering or reprogramming.

2.6. In the event of any breach occurs, the Company will report the breach to the relevant law enforcement authorities and appropriate legal action will be taken.

2.7. Our Applications may contain hyperlinks to, or from other third-party sources. The Company shall not be responsible or liable for the contents on any third-party sources that are linked to, linked or from our Applications, and we do not, expressly or implicitly, make any representation, covenant or warranty regarding their content or accuracy. Links to or from third-party sources do not imply that we sponsor or endorse the contents of these sources.

2.8. Any hyperlinking to our Applications shall be subject to the Company’s prior written consent, which if given, shall be conditional upon the satisfaction of any conditions we may prescribe. You may link to our Applications, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it. You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists. We reserve the right to withdraw linking permission without notice.

2.9. All content on our Applications, including, without limitation, trademarks, product names, service marks, logos, designs, text, images, or links, are registered and unregistered property of the Company or third-party licensors or content providers. Nothing on our Applications should be construed as granting any licence or right to use any content without the written permission of the Company or any other applicable content owner. You agree not to reproduce, copy, modify, adapt, translate, publish, display, communicate, transmit, broadcast, distribute, sell, trade, exploit or use for any commercial or other purposes, any portion of, or any access to any of our Services and any part of our Applications except to the extent permitted with the prior written consent of the Company.

3. Consent

3.1. By accessing and/or using our Applications, you agree and consent to the Company and our related third party money changers, collecting, using and/or disclosing your personal data for purposes reasonably required by the Company to administer and/or manage your account in our Applications (such as awarding you with the access and exchange limits) and such other purposes as described in the Company’s Privacy and Personal Data Policy which is accessible from the Company’s website, which you confirm you have read and understood.

3.2. Marketing Consent
In addition, by accessing and/or using our Applications, you consent to the Company and our related third party money changers or remittance agents as well as their respective representatives and agents collecting, using and disclosing your personal data in their records for the purposes of providing you updates and rewards about their products and services via:
• phone; and
• mail, email and other means of communication.

4. Performance of the Application

4.1. The Company makes no guarantee as to the reliability or other performance of our Applications. The performance of our Applications depends on various factors, including the functions, capacity and configuration of your mobile phones or access device, the speed of your internet connection, and the number of users assessing the systems which support the Applications.

4.2. The Company will use reasonable endeavours to generally make the Applications available during its normal business hours. However, the availability of the Applications depends on various third party service providers, and accordingly, the Company does not represent, warrant or guarantee that:

a) your use of the Applications will be continuous, uninterrupted, secure or error-free; Any network connection difficulties occur;
b) there will be no occurrence of network connection difficulties.

4.3. You acknowledge that the Applications may not be available for use from time to time, and that you may be disconnected from your use of the Applications at any time for any reason, including if:

a) any network connection difficulties occur;
b) the systems providing those services are unavailable for any reason (including system maintenance);
c) you have breached any of these Terms of Use; or
d) the Company decides, in its sole discretion to suspend, block or terminate your access to the Applications for any reason.

4.4. The information available through the Applications is subject to updates from time to time. While the Company aims to ensure that it is up-to-date, there may be delays, errors or omissions that could affect its currency or accuracy due to the nature of the Internet. Accordingly, the Company does not represent or warrant that the Applications will be available at all times and that access will not be interrupted, that any defects will be corrected, that there will be no delays, failures, errors or omissions or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your mobile phones or access device. The Company is not liable for malfunctions in communications facilities not under its control that may affect the accuracy or timeliness of messages and transactions you send or receive. You have the sole responsibility for adequate protection of mobile phones/access device and backup of data by taking sensible and prudent actions.

5. Registration and Account Security

5.1. When using the Application, we expect you to help us maintain the security of your account. You acknowledge and agree:

a) to set up only one (1) account for your personal use as setting up multiple accounts is not allowed.
b) you will not invent a false persona, but will use your real identity at all times on the Application.
c) you will not impersonate another person or entity, or otherwise misrepresent your affiliation with another person or entity.
d) any update of your personal particulars including phone number or email may subject you to re-registration or reverification of your data.
e) to the fullest extent permitted under Singapore law, you shall keep all information obtained through this Application secure and confidential.
f) you are solely responsible for maintaining the confidentiality of the information you hold for your account, including your password, and for any activity that occurs under or through your account as a result of your failure to keep this information private, secure and confidential. The Company is not liable for any loss, damage, cost or other expense incurred by you due to any third party using your account or password as a result of your failure to keep your account information private, secure, and confidential.
g) if you invent a false persona or misrepresent your real identity we reserve the right to disable, delete, or suspend your account.
h) if we disable, delete, or suspend your account, you agree you will not create another account without our permission.
i) your account may be deleted due to inactivity if you do not log in at least once within 18 months of your last login. The Company shall be entitled to suspend and/or terminate your access and/or use of our Applications, at any time, with or without notice and for any or no reason.

5.2. The Company requires you to take the necessary precautionary measures to ensure that no unauthorised access is given to your account. Therefore, you must not allow anyone other than yourself access to the Application. You must notify us immediately by email to if you suspect that your account had been accessed by an unauthorised person.

5.3. Verification of personal data
You acknowledge and agree that we are required by law to carry out all necessary security and customer due diligence checks on you in order to provide our Services to you. You may need to provide additional information (in a format acceptable to us) so we can verify your identity as a condition of processing your requests, or otherwise providing our services to you. We may make, directly or through any third-party, any inquiries we consider necessary to validate information that you provide to us, including checking commercial databases or credit reports.

6. Products and Services

6.1. The Company operates the MoolaFX platform through the Applications which offer our Services. We may temporarily or permanently remove any of our Services from the Applications at any time, with or without notice to you. The Applications contain information about, amongst other things, the Company and the product and/or services that we may offer currently and in the future. As such, the information on the Applications and/or provided by the Company in any correspondences are provided for informational purposes only. The information on the Applications and/or provided by the Company should not be relied upon or used as the sole basis for making decisions without consulting other sources of information which may be primary and/or comparatively more complete and timely. The Company shall not be responsible or liable for any decisions made in reliance on the information contained in the Applications.

6.2. Moola Machine (“MM”)
The Company’s MoolaFX platform includes the Moola Machines which are deployed in various locations to allow users to buy, sell, deposit, collect or withdraw foreign and local currencies. In order to use the MM, users have to first agree to the Company’s Terms of Use and Privacy and Personal Data Policy.

6.3. The MM will not accept currencies that are counterfeit, mutilated, out-of-circulation or in bad physical condition. Please do not insert such notes into the machine.

6.4. The Company will not be responsible or liable for any losses if you forget to collect the currencies or receipts from the MM.

6.5. The Company endeavours to provide you with accurate, up-to-date Services pricing and transaction information. Errors will be corrected where discovered, and the Company reserves the right to revoke any stated offer and to correct any errors, inaccuracies, or omissions, including after an order has been submitted and paid for by you, and whether or not the order has been confirmed by the Company.

6.6. If MM fails to dispense the required currencies for whatever reasons, the Company will make arrangement with you to deliver or self-collect any shortfall within the next working day.

6.7. All transactions, once confirmed, cannot be cancelled, unless subjected to clause 6.5 above.

6.8. Payment for all our Services shall be made in advance only. If you fail to pay any fees or charges, if any, the Company reserves the right to withhold the delivery of your ordered Services. You shall be responsible and liable for any fees, including attorneys’ fees and collection costs that the Company may incur in our efforts to collect any unpaid balances from you.

6.9. Your right to use our Services is subject to limit(s) set by the Company. The limit(s) currently set are as follows:
a) Daily SGD 4,800 or equivalent

7. Indemnification

7.1. You agree to fully indemnify the Company and all of its directors, officers, agents, and employees, our respective agents, third-party content providers or content providers harmless from and against any and all claims, expenses, actions, legal fees, liabilities, losses, proceedings, or any special, incidental or consequential damages arising out of your use of our Applications, in breach or alleged breach of this Terms of Use.

8. Legal Jurisdiction

8.1. The Terms of Use and your use of the Website shall be governed in all aspects by the laws of the Republic of Singapore.