Cashoo Services (hereafter called “Cashoo”) is owned and operated by Shaare Technologies LLC (hereafter called “Shaare”) of Dallas, Texas U.S.A. and/or its registered affiliates. Cashoo’s Terms of Service governs your use of Cashoo. By signing up for Cashoo, you are agreeing to be bound by the following terms and conditions (“Terms of Service”). Any new features or tools which are added to the current Services shall be also subject to these Terms of Service.
Cashoo offers Mobile Digital Interbank Payment Services, Payment Services and Non-Interbank Payment Services. The fees Cashoo charges are as follows:
All Users of Cashoo must be at least 18 years old or their country’s legal adult age, (or from the age of 13 years old, in countries where it is permissible by law), to sign up for a Cashoo Account. In some instances, you may be required to meet some Identity Verification Requirements, to create a Cashoo Account. Once you sign up as a Cashoo User, you hereby authorize Shaare to verify your identity and account information, including with the use of third party sources and databases.
Creating a Cashoo User Account is easy and the information you may be required to enter will depend on your country. To create and update a Cashoo Account and ID, you may be required to submit certain personal information including but not limited to, your name, date of birth, email address, mobile phone number, address, a form of government issued identification, and tax ID. When you create an account, you warrant that you own the email or phone number and all information entered to create your account is true and accurate. After you create a Cashoo Account you can create a custom Cashoo ID for which you can use your name, your business name if you’re a business, or a name that will make it easy for users to identify you on Cashoo. Other Cashoo Users will be able to identify you on Cashoo by your Cashoo ID.
Cashoo facilitates Business Entities which utilise a Cashoo Business Account. Businesses that use Cashoo’s Business Accounts must be approved by Cashoo’s Business Verification and Approval Processing System and may be required to submit business registration and other business documentation for verification and approval. Once you sign up as a Cashoo Business Account, you hereby authorize Shaare to verify your identity and account information, including with the use of third party sources and databases.
You may close your Cashoo User Account or Cashoo Business Account at any time and at no cost to you. You will remain liable for any obligations, queries or investigation, etc. regarding your account, even after you have closed it. Cashoo may maintain records of all your money transactions for an unlimited period of time.
Cashoo facilitates Direct Bank Account to Bank Account payments between Cashoo Users. As a Cashoo User you may link an external Eligible Bank Account (a bank account from a bank registered, licensed or regulated by your country’s financial laws and government regulatory agencies) to your Cashoo Account. The bank account linked to your Cashoo Account allows you to use your your bank account for direct payments and receipts of money on Cashoo. You can link more than one Bank Account to your Cashoo Account and change from any one Bank Account to another, to send and receive money with other Cashoo Users.
Cashoo also facilitates the payment and receipt of money using a Cashoo User’s Cash Balance Account, also called the Cashoo Wallet Service. The monies held in your Cash Wallet Account are not held in the eligible Bank Account linked to the Cashoo App. The Cashoo Wallet Service is mainly used by users who may not have an Eligible Bank Account, but it is also available to users with a linked eligible Bank Account. There may be limits to the amount of money you can receive in, pay from, or hold, in your Cashoo Wallet, within specific periods of time. These limitations may be regulated by Laws, Banking Institutions, and Government Regulators. Cashoo Users who wish to utilise the Cashoo Wallet Service to pay and receive money, must first be approved to use the Service and may be required to meet some special Identity Verification Requirements. If Cashoo is unable to verify the identity of a User seeking to use the Cash Wallet Service, the User will be “Disallowed Service for Identification Verification Failure” and will not be allowed to use the Cashoo Wallet Service.
As a Cashoo User you can send a Money Request to another Cashoo User from your Cashoo Account. Cashoo Business Account Users do not have the function to send or receive money requests. From your Money Request Form you can enter details, including the amount of money you want to request from the other Cashoo User. Your Money request is received by the other Cashoo User after you send it.
As a Cashoo User you can send money to other Cashoo Users including Business Users from any of the eligible bank accounts linked to your Cashoo Account or from your Cashoo Wallet. In your Money Send Form you can enter details, including the amount of money you want to send to the other Cashoo User. The money you send is received by the other Cashoo User after you send it. The time your receiver receives the money you send may be subject to the terms of the Eligible Bank Account linked to your Cashoo Account, or the Eligible Bank Account linked to your receiver’s Cashoo Account. If you are sending money from your Cashoo Wallet, the time your receiver receives the money, may be subject to the terms of Cashoo Services’ Bank Provider or the Eligible Bank Account linked to your receiver’s Cashoo Account. An email with details of the money sent to your recipient, is automatically generated and sent to the email address registered with your Cashoo Account.
As a Cashoo User you can receive money from other Cashoo Users including Cashoo Business Account Users. Monies received on Cashoo is received and deposited directly in the Eligible Bank Account linked to your Cashoo Account. For users who use the Cashoo Wallet Service, monies received by other Cashoo Users or Cashoo Business Account Users are received and added to your existing Cashoo Wallet. The time you receive the money sent to you by another Cashoo User, may be subject to the terms of the Eligible Bank Account linked to your Cashoo Account, or the Eligible Bank Account linked to your sender’s Cashoo Account. If you are receiving money in your Cashoo Wallet, the time you receive the money, may be subject to the terms of the Eligible Bank Account linked to your sender’s Cashoo Account or Cashoo Services’ Bank Provider.
As a Cashoo User, all your Cashoo transactions on Cashoo are displayed in a chronological order, with the last transaction appearing at the top of the list of transactions. All your Cashoo money transactions are displayed in a concise manner and when a transaction item is selected, it displays a full detail of the transaction, including the Cashoo ID of the other transaction party, date, time, description of transaction, and receipts, etc.
Businesses can create Cashoo Business Accounts that allow them to send and receive money with other Cashoo Users, including other Cashoo Business Account Users. All Cashoo Business Accounts are verified by Cashoo’s Business Verification Process. Cashoo Users can pay Cashoo Business Users for goods and services, via the businesses’ websites, apps or on location from the Cashoo App. All purchases from businesses using the Cashoo are made from any of the selected eligible bank accounts linked to your Cashoo Account or from your Cashoo Wallet. Every purchase from businesses using Cashoo, automatically generates a Receipt or Proof of Purchase which is displayed immediately after the money has been paid to the recipient business. Payments are made from the eligible bank account linked to your Cashoo Account or from your Cashoo Wallet. An email with details of your purchase is also automatically generated and sent to the email address registered with your Cashoo Account. Purchases from businesses and their Receipt or Proof of Purchase are also displayed in your Transaction History in the Cashoo App.
All the funds held in the Cashoo Wallet Accounts of all our Users are placed and held in one or more bank accounts and they are kept separate from Shaare’s corporate funds. These funds are not used for Shaare’s corporate operations purposes. Shaare will not make Cashoo Wallet Accounts funds available to creditors in the event of bankruptcy. For the purpose of managing the funds held in Cashoo Wallet Accounts, Shaare may be subject to fees that will not be deducted from Cashoo users who use the Cashoo Wallet Service. Shaare may also receive interest on funds held in Cashoo Wallet Accounts. As a Cashoo User, you agree that you will not receive interest on the funds in your Cashoo Wallet Accounts and and that you irrevocably transfer and assign to Shaare, all the rights you have to all and any interest that accrue on the funds in your Cashoo Wallet Accounts and that are held by Shaare and placed in one or more bank accounts owned by Shaare.
Restricted Activities are activities that are not permitted when using Cashoo. They include:
If there are any court orders or legal matters regarding the use of your Cashoo Account, for which Shaare and its registered owned and operated entities are required to provide details of your use of your Cashoo Account, Shaare will notify you of same. Shaare will cooperate with any legal proceeding in relation to your Cashoo Account and in compliance with local laws and regulations. During any legal investigation or proceeding and unless having restrictions to do so, Shaare will use its sole discretion to hold or limit all transactions on your Cashoo Account or release your funds to you.
Unauthorised Transactions are transactions that you did not conduct or that was conducted by a person other than yourself, without your consent or knowledge. It is prudent that you review your Transaction History daily to ensure that all transaction displayed were made by you or check all the emails that are automatically generated when you send money to other persons or make a purchase to a business. Unauthorised Transactions should be reported immediately through our Customer Support Messaging Platform that is accessible from the customer support button displayed in the Cashoo App. You have 45 days to identify and verify Unauthorised Transactions after we send you your Cashoo Account Statement following your report. You will receive 100% of the Unauthorised Transaction Amount after we have verified the unauthorised transactions. If you do not verify Unauthorised Transactions within 45 days after we sent you your Account Statement ,we may not be able to retrieve your money lost by unauthorised transactions. If you file a chargeback or reversal with your financial institution it is not a notice of an unauthorised transaction.
Errors are unintended transactions or system malfunctions that include:
Shaare reserve the right, in its sole discretion to suspend, terminate or limit the use of its platform to any user who violates Cashoo’s Terms of Use or who is believed to be in violation the said terms. Where we exercise this right we will inform you by email and through our Customer Support Platform in the Cashoo App. Following suspension, termination or limits to the use of your Cashoo Account, and the outcome of any related investigations, unless having restrictions to do so, Shaare will use its sole discretion to hold or limit all transactions on your Cashoo Account or release your funds to you.
As a Cashoo User, you agree to indemnify Shaare for your usage of your Cashoo Account. You agree to defend, indemnify and hold Shaare as having absolutely no liability whatsoever for any claim or demand (including reasonable legal fees) by any third party arising out of your violation of this user agreement and the improper or unlawful use of Cashoo Services.
Limitation of Liability:TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, (A) SHAARE WILL NOT BE LIABLE TO YOU FOR ANY LOSS OF USE, LOST DATA, LOST PROFITS OR INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES RELATING TO THE USE OR INABILITY OF THE USE OF THE SERVICES, EVEN IF SHAARE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND (B) SHAARE’S TOTAL CUMULATIVE LIABILITY IN CONNECTION WITH THE SOFTWARE AND THIS AGREEMENT, WHETHER IN CONTRACT OR TORT OR OTHERWISE, WILL AT ALL TIMES BE LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES OR AS STATED IN OTHER SECTIONS OF THIS AGREEMENT. THE EXISTENCE OF MORE THAN ONE CLAIM WILL NOT ENLARGE THIS LIMIT.
TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, SHAARE PROVIDES THE SERVICES “AS-IS” AND AS TO YOU DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, ACCURACY, AND NON-INFRINGEMENT. SHAARE DOES NOT GUARANTEE ANY SPECIFIC RESULTS FROM THE USE OF THE SERVICES. SHAARE MAKES NO WARRANTY THAT THE SERVICES WILL BE UNINTERRUPTED, FREE OF VIRUSES OR OTHER HARMFUL CODE, TIMELY, SECURE, OR ERROR-FREE. SHAARE HAS NO CONTROL OVER THE GOODS AND SERVICES FOR SALE BY THE BUSINESSES THAT USE ITS CASHOO SERVICES. WE CANNOT GUARANTEE THE QUALITY OF GOODS AND SERVICES SOLD OR THAT THE BUSINESSES WILL HONOUR ALL OR ANY TRANSACTION YOU MAKE WITH THEM WHEN USING OUR CASHOO SERVICES.
This Terms of Service may be updated periodically to implement changes to our privacy practices or for other operational, legal, or regulatory purposes. If we modify these Terms, we will inform you of such changes by posting the revised Terms on Cashoo’s Website and Mobile App, and where these Terms are posted when using our other product and services. By continuing to access or use Cashoo, you agree to abide by the revised Terms.
