Wapa

Services and Definition

Maintaining the account
The account provider operates the account for use by the customer.

Refusing a payment due to lack of funds
The account provider refuses a payment from the customer’s account because there is not enough money in it (or it would take the customer past their arranged overdraft limit).

Sending money within the UK
The account provider transfers money, on the instruction of the customer, from the customer’s account to another account in Gibraltar.

Sending money outside the UK
The account provider transfers money, on the instruction of the customer, from the customer’s account to another account outside Gibraltar.

Receiving money from outside the UK
Money is sent to the customer’s account from an account outside Gibraltar.

Transfer funds in the UK
The customer takes cash out of the customer’s account in Pound Sterling at a cash machine, bank, or Post Office in Gibraltar.

Legal names
The customer’s first, middle and last names as it appears on your government issued ID used for verification purposes, e.g. passport, driver’s license

Terms & Conditions
Legal agreement between the customer and Wapa Money under which the service is provided

Privacy policy
A statement that discloses all of the ways Wapa Money gathers, uses, discloses, and manage our customer data

Wapa Money Wallet
A virtual account provided by Wapa Money for each customer where the customer loads funds they intended to send to a beneficiary

Fund wallet
The process that allows the customer credit their wallet with funds they intend to send to the recipient

Withdraw from wallet
Capability that allows the customer move funds from their wallet to the original account where the funds were credited form

Account verification
The customer must be verified as part of customer onboarding

Currencies
Transfers from our customer to their beneficiary are only available for the currencies available in the app

Recipient
The person who receives funds transferred

Sender
Our customer who sends funds. The sender and recipient must not be in the same country

Wapa Money Transactions
Transactions carried out by customers of Wapa Money’s customers on the platform. These are also transactions that appear on the customer accounts as well as transactions that appear on all bank accounts that handle funds linked to customer transfer of funds

Rates
Rate at which the two currencies involved in a transfer will be exchanged