Terms & Conditions for Remittance Service
YOUR USE OF THE M1 REMIT SERVICE ARE SUBJECT TO THE TERMS AS SET OUT HEREUNDER. ANY TERMS ACCEPTED BY YOU IN THE APPLICATION FORM FOR THE M1 REMIT SERVICE SHALL ALSO APPLY UNLESS OTHERWISE EXPRESSLY STATED. PLEASE READ THESE TERMS CAREFULLY. IF YOU DO NOT AGREE TO THE TERMS, YOU SHOULD DISCONTINUE YOUR USE OF THE M1 REMIT SERVICE. KLIQ MAY REVISE THESE TERMS AT ANY TIME AND REVISIONS WILL BE PUBLISHED ON THIS WEBSITE. BY CONTINUING TO USE THE M1 REMIT SERVICE, YOU AGREE TO BE BOUND BY ANY SUCH REVISIONS. PLEASE ENSURE THAT YOU CHECK BACK PERIODICALLY TO ENSURE THAT YOU ARE AWARE OF SUCH REVISIONS.
1.1 In these General Terms and Conditions for M1 Remit Service (“Terms”), except to the extent that the context requires otherwise, the following words and expressions shall have the meanings ascribed to them below:
“Applicable Laws” means all laws, codes of practice, regulations, policies, guidelines, instructions or other instruments having the force of law in whatsoever form that any competent regulatory, governmental or judicial authorities (“Authority”) may issue from time to time relating to the Services or otherwise.
“Application” shall have the meaning as described in Clause 3.1.
“AML/CFT” means anti-money laundering and countering financing of terrorism.
“Beneficiary” means an individual who is nominated by a Customer to receive funds via the M1 Remit Service.
“Business Day” means a day on which banks are open for the transaction of general business in Singapore, other than a Saturday, Sunday or public holiday.
“Converted Amount” means, in respect of a remittance transaction, the amount in the local currency of the relevant Territory that is credited into a Beneficiary’s bank account or made available for a Beneficiary’s self-collection, after converting the Remittance Amount based on the applicable Exchange Rate for the time being, subject nevertheless to the relevant terms of any third party service which may apply to such transaction.
“Customer” means an individual whose Registration Application for the M1 Remit Service has been accepted by Kliq and whom the provision of the M1 Remit Service has not been suspended or terminated for any reason whatsoever.
“Customer Information” means all information which Kliq obtains in relation to a Customer as a result of Customer’s registration and use of the M1 Remit Service, including any information which relates to remittance transactions, information which relates to another individual (including Beneficiaries), whether true or not, and any information of a Customer that is collected, used or disclosed as described in the M1 Data Protection Policy.
“Exchange Rate” means the rate at which the Remittance Amount is converted into the Converted Amount.
“Intellectual Property” means trademarks, service marks, trade names, domain names, rights in designs, patents, database rights of unfair extraction and reutilisation, copyrights (including rights in computer software), rights in know-how and other intellectual or industrial property rights (whether registered or unregistered and including applications for the registration of any of the foregoing) and all rights or forms of protection having equivalent or similar effect to any of the foregoing which may subsist anywhere in the world.
“Kliq” means Kliq Pte Ltd (Company Registration Number 201106360E), a subsidiary of M1 Limited.
“Kliq Counter” means the physical counters operated by Kliq in Singapore to provide M1 Remit Service and related services to Customers.
“Kliq Website” means www.m1remit.com.sg or such other internet website as Kliq may maintain in respect of the M1 Remit Service.
“M1 Data Protection Policy” means the current version of the data protection policy available at https://www.m1.com.sg/dataprotection.
“M1 Group” means any entity within the group of companies under M1 Limited (Company Registration Number 199206031W).
“M1 Remit Mobile App” means the M1 Remit Mobile Application that Customers may download for use on their mobile device, in relation to the M1 Remit Service, subject to these Terms.
“M1 Remit Service or Service” means the remittance service provided by Kliq that enables a Customer to remit funds to nominated Beneficiaries in the manner and subject to these Terms.
“M1 Shop Outlets” means the M1 Shops at IMM and Paragon in Singapore.
“Remittance Amount” means, in respect of a remittance transaction, the amount in Singapore Dollars specified by a Customer to be remitted to the relevant Beneficiary when making a Transaction request (prior to any conversion of such amount).
“Terms” means these General Terms and Conditions for M1 Remit Service, including any revisions, changes or amendments thereto from time to time.
“Territory” means [the list of countries indicated at XXX] or any other country designated as a participant country by Kliq from time to time.
“Transaction” means a remittance transaction using the M1 Remit Service to transfer funds to a Beneficiary in the relevant Territory, performed by Kliq at the Customer's request.
“Transaction Request” shall have the meaning ascribed to it in Clause 4.1.
1.2 Except to the extent that the context requires otherwise:
(a) The headings or titles to the Clauses in these Terms are intended to facilitate reference and shall not be relied upon in the construction of any provision of these Terms;
(b) The singular shall include the plural and words in the masculine gender shall include the feminine gender and/or neuter gender and vice versa;
(c) The words “include” or “including” in these Terms shall be deemed to be followed by “without limitation” or “but not limited to” whether or not they are followed by such phrases or words of like import.
2.1 The Customer shall ensure the satisfaction of the eligibility criteria set out herein, including any revisions which Kliq may make from time to time at its absolute discretion. Kliq reserves the right to refuse to provide or suspend or terminate the Service in whole or in part, in the event that the eligibility criteria is not met, or ceases to be met, as the case may be.
2.2 In order to be eligible to apply for and use the Service:
2.2.1 The Customer must be of the legal age of majority to contract in the jurisdiction in which the Customer resides (and in any event, no less than eighteen (18) years of age) and be legally capable and permitted to agree to these General Terms; and
2.2.2 The Customer must have full capacity, authority and legal right to enter into and engage in Transactions, and has taken all necessary action or obtained all necessary consents to authorise the Customer's entry into this Agreement and performance of the Customer's obligations in respect thereof in accordance with Applicable Laws; and
2.2.3 The Customer shall comply with the provisions of these General Terms and any registration guidelines or specific criteria in relation to the relevant Territory as may be set out by Kliq from time to time; and
2.2.4 The Customer must be an existing subscriber to any pre-paid or post-paid mobile services provided by M1 Limited in order to register for the Service.
3.1 An individual may submit an application to register for the Service (“Application”) through any one of the following channels:
(a) Through the Website; or
(b) Via the M1 Remit Mobile App; or
(c) In person at a Counter; or
(d) At roadshows organised by Kliq or such other authorised locations as Kliq may determine from time to time.
Each Application must be accompanied with or followed by the submission of such supporting documentation and information as Kliq may require in order to verify the individual’s identity, to facilitate Kliq’s assessment of the Application. The submission must be done by the individual in person and at a Counter or M1 Shop Outlet (or roadshow location, if any).
3.2 The individual undertakes that all information provided in or pursuant to his Application shall be true, accurate, current and complete at the time of application and for such time as he remains a Customer; and shall promptly notify Kliq of any changes to such information in person and produce the original identification documents for verification at any Counter or M1 Shop Outlets, unless otherwise instructed by Kliq.
3.3 Each individual may nominate up to five (5) Beneficiaries. The individual shall provide Kliq with such information relating to each Beneficiary as may be required by Kliq including the relevant bank account or cash out agent details in the Territory to which the funds will be transferred to such Beneficiary using the Service, and the individual undertakes that all information so provided shall be true, accurate, current and complete at all times. It shall be the individual’s responsibility to ensure that any changes to information relating to Beneficiaries are promptly notified to Kliq via the Website or the M1 Remit Mobile App.
3.4 Kliq may take up to three (3) Business Days to process any Application. Kliq reserves the right at its absolute discretion to decline any Application in whole or in part (including in relation to the nomination of any Beneficiaries) without obligation to provide any reason for its decision.
3.5 Kliq shall notify each individual as to whether his application has been accepted or rejected.
4.1 Each request from the Customer for the transfer of funds to a Beneficiary (“Transaction Request”) shall be submitted to Kliq in such manner and form and accompanied with such supporting documentation and information as Kliq may require. The Customer may make a Transaction Request through the Website or via the M1 Remit Mobile App or by using such services as Kliq may offer for this purpose from time to time.
The Customer undertakes that all information provided pursuant to a Transaction Request, including Beneficiary information, shall be true, accurate, current and complete at the time of the request.
4.3 The Remittance Amount may only be converted into the local currency of the Territory to which the funds are to be remitted. The conversion of the Remittance Amount into the Converted Amount shall be performed at the prevailing Exchange Rate at the time the Transaction Request was made by the Customer, as determined by Kliq in its absolute discretion.
4.4 The Customer may make enquiries in relation to Kliq’s prevailing Exchange Rates through the Website or the M1 Remit Mobile App. For the avoidance of doubt, Kliq does not make any representation or warranty to the Customer that the exchange rate quoted will be the best available rate and/or that the exchange rate quoted will be the Exchange Rate applied to the Customer’s Transaction Request. Upon making the Transaction Request, the Customer shall be deemed to have accepted the prevailing Exchange Rate as determined by Kliq in its absolute discretion and Kliq will not entertain any dispute or requests for refunds arising from the Exchange Rate.
4.5 The Customer must make full payment of the Remittance Amount and all applicable fees before any Transaction Request will be processed. Such payment may be made by the Customer by cash at any M1 Shop Outlets; or by the NETS debit service at any AXS machine. Cash payments at M1 Shop Outlets will be rounded up to the nearest 5 cents.
4.6 An official e-receipt for the Transaction stating details including the Remittance Amount, the Exchange Rate and the Converted Amount will be electronically generated once the Customer’s Transaction Request is accepted and has been processed. The e-receipt will be accessible through the Website or via the M1 Remit Mobile App.
4.7 The Customer understands that in order for any Beneficiary to successfully receive funds via the Service the Beneficiary must also be eligible to use relevant third party services in the Territory, including banking services and cash out agent services as the case may be. It is the Customer’s sole responsibility to ensure that his intended Beneficiaries are eligible to do so, and comply with all applicable terms relating to such third party services.
4.8 The Customer agrees that the continued provision of the Service by Kliq to the Customer in respect of Transaction Requests is subject to the following conditions:
4.9 Without prejudice to any other rights of Kliq under these Terms, in the event any identification document submitted by the Customer is expired or invalid Kliq shall be entitled to suspend the Service. Further, Kliq may at its absolute discretion refuse to perform and/or complete any Transaction (including where the Customer fails to fulfil any of the conditions set out in this Clause 4), in which case Kliq shall refund the Remittance Amount which has been paid to Kliq (or part thereof) in respect of such Transaction to the Customer in accordance with these Terms.
4.10 All Transactions shall be subject to the following aggregate limits for Remittance Amounts:
Kliq may, at its absolute discretion, revise or impose additional limits on Transactions whether on a per transaction basis or an aggregated basis, without prior notice to the Customer.
4.11 Once the Transaction Request is accepted and processed, the Remittance Amount will be remitted and the Transaction is completed. The Beneficiary will be deemed to have received the funds once the Converted Amount is remitted into the Beneficiary's bank account or collected in person by the Beneficiary, as the case may be.
4.12 If the Converted Amount cannot be remitted to the Beneficiary's bank account for whatever reason whatsoever and howsoever arising or fails to be collected in person by the Beneficiary within seven (7) Business Days of the date that Kliq receives the Remittance Amount from the Customer, the Transaction Request shall be deemed to have failed. Kliq will notify the Customer of such failure by the next Business Day, for the Customer’s further instructions.
4.13 The Customer may not amend, cancel or withdraw a submitted Transaction Request unless Kliq in its absolute discretion otherwise agrees in writing. For the avoidance of doubt, Kliq shall not be liable to the Customer if Kliq does not or is unable to stop or prevent the Transaction from going ahead.
4.14 The Customer agrees that he bears sole responsibility for the use and safeguard of his and his Beneficiaries’ personal information (including Customer’s username, password and/or pin number) when using the Service through the Website and via the M1 Remit Mobile App. The Customer further agrees that he is responsible for all Transaction Requests and shall exercise caution when transferring any Remittance Amount to unfamiliar Beneficiaries and be alert to the possibility of fraud.
4.15 In the absence of manifest error, the Customer accepts that Kliq's record of Transactions shall be final and conclusive and binding for all purposes.
4.16 Subject to Applicable Laws, Kliq may record any telephone conversation with the Customer and the Customer agrees that such recordings shall be admissible in evidence in any proceedings and shall be binding on the Customer.
5.1 Subject to Clause 5.3, Kliq shall refund the Remittance Amount to the Customer where any of the following situations occur:
5.2 Where a Customer's request for a refund of the Remittance Amount (or any part thereof) is approved, Kliq will notify and refund the Customer within twenty-one (21) calendar days. Refunds shall only be made to the Customer via direct payment into the Customer’s nominated bank account.
5.3 Refunds will only be made for the Converted Amount in Singapore Dollars at such exchange rate as may be determined by Kliq at its sole and absolute discretion, less any fees or charges, including any administrative fees charged by Kliq for any refund, and any fees or charges which may be imposed by any relevant third party service provider (including any banks).
6.1 In using the Service, the Customer agrees that:-
6.2 In using the Service, the Customer shall not:
7.1 Applicable fees will be stated on the Website. Kliq reserves the right to revise the applicable fees at any time at its absolute discretion. Any revisions will be published on the Website.
7.2 The Customer shall be responsible for all taxes (including goods and services tax) imposed under Applicable Laws.
8.1 Subject to Applicable Laws, Kliq reserves the right to suspend at its absolute discretion for such period as Kliq may consider appropriate or terminate the Service (in whole or in respect of any particular Territory) at any time upon written notice to the Customer. Such notice shall be effective upon posting on the Website or on such date as may be otherwise stated by Kliq.
8.2 Without prejudice to Clause 8.1, Kliq may suspend or terminate the provision of the Service to the Customer immediately by written notice (subject to Applicable Laws) to the Customer if:
8.3 The Customer shall not be entitled to any payment, compensation or damages from Kliq in relation to the termination of the provision of the Service to the Customer, except for refunds in accordance with these Terms. The termination of the provision of the Service to the Customer shall not release the Customer from any accrued liability at the time of termination.
8.4 Kliq’s right to suspend or terminate the Service shall be without prejudice to any other rights or remedies which Kliq may have under these General Terms.
8.5 Upon termination of the provision of the Service (whether in whole or in respect of any particular Territory or in respect of the Customer):
9.1 All Intellectual Property in or relating to the Service belongs solely to Kliq and its licensors. Nothing in these Terms shall be construed as granting the Customer any licence or right to use any Intellectual Property in or relating to the Service without the prior written consent of Kliq. Any rights not expressly granted herein are reserved.
9.2 The Customer shall not and shall not attempt or allow any other person to either directly or through the use of any device or software or other means, tamper, modify, reproduce, duplicate, alter, exploit, reverse-engineer or otherwise attempt to derive the source code of the Service in any manner not expressly permitted by Kliq or its licensors.
10.1 Kliq’s provision of the Service to the Customer is subject to conditions and third party actions on which the provision of the Service is dependent but which Kliq has no control over including regulatory issues, currency availability, foreign exchange controls, any relevant bank’s and any cash out agent’s hours of operation, local and foreign Business Days and public holidays, the availability and connectivity of a suitable network infrastructure at the time when the Service is requested or performed, and capabilities of the relevant networks and delivery systems at the time and location when and where the Service is requested or performed. Notwithstanding anything to the contrary in these Terms, Kliq shall not be liable in any way for any such conditions or third party actions or omissions.
10.2 The Customer acknowledges that he uses the Service at his own risk. Kliq does not represent or provide any warranty that the Service will meet the Customer’s requirements or that the Service will always be provided uninterrupted or in a timely secure or error-free manner, or be available accessible or functional at all times. While Kliq will make reasonable efforts to ensure that the Transactions are processed and performed in a timely manner, Kliq makes no representations or warranties regarding the time needed to complete processing or to remit the amount to any Beneficiary. Further, all information stated on the Website is subject to change and Kliq does not guarantee that such information is always printed error-free. To the fullest extent permitted by Applicable Laws, Kliq expressly excludes any guarantee, representation, warranty or undertaking of any kind (including warranties of non-infringement), whether express or implied, statutory or otherwise, relating to or arising from the use of the Service or Kliq’s performance of any Transaction.
10.3 The Customer is solely responsible for ensuring the accuracy and completeness of each Transaction Request, including Beneficiary information. To the fullest extent permitted by Applicable Laws, Kliq shall not be responsible for any costs, losses, liabilities, expenses, claims or damages (whether direct, indirect or consequential) suffered or incurred by the Customer as a result of any Transaction Request being inaccurate, inadequate or incomplete in any way, or any failure, refusal, delay or error by any third party through whom the Transaction is made to the intended Beneficiary.
10.4 To the fullest extent permitted by Applicable Laws, and save for refunds in accordance with these Terms, Kliq shall not be liable in any way to the Customer for any and all costs, losses, liabilities, expenses, claims or damages whatsoever (whether direct, indirect or consequential) in respect of any matter of whatsoever and howsoever arising (whether in contract, tort, negligence or otherwise), save where such losses or damages arise directly as a result of Kliq's fraud, gross negligence or wilful misconduct, in connection with:
10.5 If for any reason Kliq is unable to rely on the limitations of liability set out above, or is found to be liable to the Customer under other grounds (if any) and Kliq’s liability is proven by the Customer, Kliq’s maximum liability to the Customer whether in contract, tort (including negligence or breach of statutory duty) or otherwise howsoever under any cause of action for any and all losses, damages or liabilities caused or arising from or in relation to Kliq’s provision or operation of the Service or relating to these Terms shall be limited to Singapore Dollars Five Thousand only (S$5000) or the aggregate of the fees paid by the Customer to Kliq for the Service during the last three (3) months immediately preceding the time of the claim by the Customer, whichever is lower. Kliq’s maximum liability to the Customer in every one year period notwithstanding any number of events shall be limited to Singapore Dollars Five Thousand only (S$5,000).
11.1 To the extent permitted by Applicable Laws, the Customer shall indemnify Kliq, all M1 Group entities, and each of their directors, officers, employees, licensors and agents (the “Indemnified Parties”), from and against any and all costs, losses, liabilities, expenses (including legal fees), claims, damages or proceedings arising from or in connection with or by reason of (a) the Customer’s use of the Service; (b) any Transaction carried out pursuant to any Transaction Request made by the Customer; or (c) the Customer’s breach of any of these Terms.
11.2 The Customer’s obligations under this Clause shall survive any termination of the Customer’s relationship with Kliq or the Customer’s use of the Service. Kliq reserves the right to assume the defence and control of any claims, demands and actions, subject to indemnification by the Customer, and in such event the Customer shall fully cooperate with Kliq in asserting any available defences.
12.1 Subject to Applicable Laws, the Customer agrees to the provisions of the M1 Data Protection Policy concerning the collection, use and disclosure of the Customer’s personal data and such personal data of any Beneficiary which the Customer provides to Kliq or any M1 Group Entity in respect of any Transaction Request, for the purposes of Kliq’s performance of the Transaction, including for the following purposes:
12.2 The Customer understands that in order for Kliq to provide the Service, Customer Information (including any Beneficiary information) must be disclosed and/or transferred out of Singapore to the relevant third party service providers, and the Customer consents to such disclosure and/or transfer. In such situations, the storage, treatment and transfer of such Customer Information may be subject to laws and regulations that are different from local laws. In making a Transaction Request, the Customer authorises such disclosure and/or transfer of Customer Information out of Singapore to the relevant third party service providers for such Customer Information to be processed for the Purposes.
12.3 The Customer warrants and represents to Kliq that where Customer provides personal data of another person to Kliq, the Customer has informed such person and Customer is authorised by such person to disclose such personal data to Kliq for Kliq’s collection, use and disclosure of their personal data as described under General Terms and in M1’s Data Protection Policy.
12.4 Kliq will retain all Customer Information disclosed by the Customer for the purposes of the Service and in compliance with Applicable Laws.
12.5 The Customer may withdraw the consent referred to in this Clause by submitting a formal request in writing (or in such form as may be specified by Kliq from time to time) in accordance with the provisions of the M1 Data Protection Policy upon which the Service in relation to the relevant Transaction and the relevant Beneficiary shall be terminated. The Customer may withdraw consent to receiving marketing communications by calling the Customer Service Hotline at 1693.
13.1 To the fullest extent permissible under Applicable Laws, Kliq may at any time, amend, supplement or otherwise vary these Terms and the terms of the M1 Data Protection Policy, or make any changes to the Service. The Customer will be given reasonable advance notice (which may include advertisement, statements, letters, postings on Website or such other forms as Kliq deems appropriate) of such amendments which shall constitute good and sufficient notice to the Customer. The Customer’s continued use of the Service after such notice shall be deemed to be the Customer’s acceptance of such amendments, and the Customer shall be bound by the Terms as amended.
14.1 No delay or failure by Kliq to exercise or enforce its rights under these Terms shall operate as a waiver thereof nor shall such delay or failure in any way prejudice or affect Kliq’s rights at any time.
14.2 Any part of any clause in these Terms that is held to be unenforceable, illegal or invalid for any reason shall to the extent permissible under Applicable Laws be severed save that the remaining clauses shall remain enforceable and valid to the fullest extent permissible under Applicable Laws.
15.1 In the event of any conflict or inconsistency between the terms of any document (including application forms) and these Terms, such conflict or inconsistency shall, in the absence of any express agreement to the contrary, be resolved in a manner most favourable to Kliq, to the fullest extent permissible under Applicable Laws.
15.2 No adverse inference shall be drawn against Kliq by virtue of having drafted these Terms under contra proferentem or otherwise.
16.1 The Customer shall not assign or transfer any or all of his rights, interest and obligations under these Terms without Kliq’s prior written consent.
16.2 The Customer agrees that Kliq may assign and transfer any or all of its rights, interests and obligations under these Terms to any M1 Group entity without restriction. Any such assignment or transfer shall take effect upon posting on the Website or on such date as may be stated. In such event, all references to Kliq in these Terms shall be construed as a reference to the assignee and transferee of Kliq; and such assignee and transferee shall be entitled to enforce all rights and perform all obligations of Kliq under these Terms as at the date of such assignment and transfer thereafter.
17.1 All notices, communication and correspondence by Kliq ("Communication") may be sent to the Customer by hand, post, email, facsimile transmission or any other means deemed appropriate by us. Such Communication may be sent to the Customer’s address or email as maintained in Kliq’s records or from which Kliq has received any communication from the Customer. Any such Communication addressed and sent to the Customer shall be deemed to have been received by the Customer:
17.2 Any communication by the Customer to Kliq shall be in writing in the English language unless Kliq specifies otherwise. Kliq reserves the right at its absolute discretion to regard any communication from the Customer as invalid or ineffective if Kliq has not confirmed its receipt of such communication to the Customer.
18.1 Save for the entities comprising the M1 Group, a person who is not a party to these Terms has no right to enforce any of these Terms or any right under the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore.
19.1 These Terms are subject to and construed in accordance with the laws of Singapore and the Customer hereby submit to the non-exclusive jurisdiction of the courts of Singapore.
Your privacy matters, and M1 respects that. We treat your personal information with the utmost care and adopt strict practices to protect your privacy. The way we carry out this responsibility is defined in the M1 Data Protection Policy, which describes how M1 subscribes to the principles and requirements of the Personal Data Protection Act 2012 (PDPA).
Personal Data refers to any information about you from which you can be identified. Examples include your personal particulars, billing and payment details, and other information about your use of our network, products, services or websites.
Depending on the M1 services which you subscribe to, we may collect and use your personal data for purposes that include:
Should you have any enquiry relating to your Personal Data, you can write to us at firstname.lastname@example.org.
From 2 January 2014, the Do Not Call (DNC) provisions of the PDPA take effect. Broadly, they prohibit organisations from sending marketing messages (via voice calls, SMS or fax messages) to Singapore telephone numbers registered with the national DNC Registry.
M1 will abide by the DNC provisions. We will refrain from sending you such marketing messages if you have registered your Singapore telephone number on the relevant DNC registry, unless we are allowed to do so under DNC provisions, applicable laws and regulations. In addition to our rights under such provisions, laws and regulations, do note that if you have given us consent to send you marketing messages, we may continue sending you marketing messages until you withdraw your consent to us.
To ensure that you do not miss out on any benefits or important information relevant to your M1 subscription, simply opt in to receive such messages. That way, you can stay posted on the latest offers, exclusive rewards, re-contract status, device launches, and much more. Please log in at www.m1.com.sg/mma to opt in under the 'Update Consent Preference' tab.
More information about the PDPA and DNC regulations is available from the Personal Data Protection Commission's website.FAQ
KLIQ PTE LTD is licensed under the Money-changing and Remittance Businesses Act (Cap. 187) to carry on remittance business.
Please note that such licensing does NOT guarantee the performance of the remittance licensee and customers take the risk of any loss suffered from the remittance.
* Issued pursuant to Section 30 of the Money-changing and Remittance Businesses Act