These Terms and Conditions, together with any account applications, service agreements, fees schedules, policies and related documents, form a legal agreement between Asprofin Bank (a bank registered in the Commonwealth of Dominica, license No. 2779, with its registered office at 7 Turkey Lane, Roseau 00109-8000, Dominica) and each Client. Asprofin Bank is licensed as a bank under the Offshore Banking Act (Dominica) and is regulated by the Financial Services Unit (FSU) of Dominica. Asprofin Bank provides international banking services to individual and corporate clients worldwide, subject to compliance with applicable laws of Dominica and this Agreement. These Terms apply to all services provided by the Bank, including payment accounts, cards, money transfers and other payment instruments.

Glossary

For the purposes of these Terms, capitalized words have the following meanings:

• Account – All current and future accounts opened by the Bank in the Client’s name, including all balances, deposits, accrued interest and related rights (e.g. savings accounts, current accounts, merchant accounts, term deposit accounts).

• Asprofin Bank or the Bank – Asprofin Bank (the institution described above), together with any successors or assigns.

• Balance – The amount of money in any currency that the Client holds in an Account at any time.

• Business account – An Account opened by a legal entity (corporation, partnership, organization) for business purposes. Business accounts must be used only for business activities and are subject to additional documentation and verification.

• Business Day – Monday through Friday, excluding public and bank holidays in Dominica.

• Card – Any payment card (physical or virtual) issued by Asprofin Bank (often in partnership with a card issuer), bearing the Asprofin Bank logo and linked to the Client’s Account. This includes prepaid cards, debit cards and other payment cards. Cards allow the cardholder to make purchases, ATM withdrawals, and other transactions where cards are accepted. Each Card is personalized to the Client and bears security features (chip/PIN, CVV/CVC, expiry date, etc.).

• Client – You, the user of the Service, whether an individual or legal entity, including both personal and corporate clients. All terms “you” or “your” refer to the Client.

• Corporate Client – A business entity (such as a corporation, LLC, partnership, or other legal entity) that uses the Service for business purposes, as opposed to personal consumer use.

• Payment Order – Any instruction from a Payer or Payee to the Bank to execute a Payment Transaction.

• Payment Transaction – Any transaction for transfer of funds or payment instruction executed through the Service.

• Payer – A Client who initiates a Payment Order (e.g., to send funds).

• Payee – A Client who is the recipient of a Payment Transaction.

• EFT (Electronic Funds Transfer) – A transfer of funds from the Client’s account to another account by electronic means. EFTs include SWIFT transfers, domestic bank transfers and SEPA transfers (for payments in EUR within the Single Euro Payments Area). The Client must provide full beneficiary details for each EFT (name, account number/IBAN, bank details, etc.).

• OCT (Original Credit Transaction) – A payment method allowing the Bank’s account holders to transfer funds to an authorized debit or credit card.

• P2P (Peer-to-Peer) Transaction – A transfer of funds from the Client’s Account to another User’s Account within Asprofin Bank’s system.

• Recurring Payment – A Payment Order authorized by the Client to be executed automatically on a regular schedule (e.g. monthly subscription payments).

• Service – All accounts, payment instruments, cards and related services offered by Asprofin Bank from time to time. This includes, without limitation, personal and business accounts, prepaid and debit cards, merchant services, online banking, funds transfers (SWIFT, SEPA, domestic wire/EFT, P2P, mass payments), and other payment services. Each Service is subject to these Terms and to any Special Agreements (e.g. merchant agreements, escrow agreements) that the Bank may require.

• Two-Factor Authentication (2FA) – A security feature requiring two methods of verifying the Client’s identity (e.g. password plus SMS code). The Bank may use SMS, email or authenticator apps for 2FA.

1. Use of Services

1.1. Acceptance. By applying for and using any Asprofin Bank Service, the Client agrees to these Terms and Conditions. These Terms become effective when the Client accepts them (electronically or in writing) or first uses the Service. For example, clicking “I Agree” on the Bank’s website or using the Account in any way signifies acceptance. From that Effective Date, the Client is legally bound by this Agreement.

1.2. Services Covered. The Services covered by this Agreement are those described in the Glossary and on the Bank’s website. The Bank may require the Client to execute additional agreements or disclosures (a “Special Agreement”) for particular accounts or services (e.g. escrow accounts, merchant accounts, high-risk businesses).

2. Eligibility and Accounts

2.1. Eligibility. To open an Account and use the Service, the Client must meet all eligibility criteria established by the Bank. This generally includes legal capacity (e.g. being of legal age or a duly organized business entity) and compliance with law. The Client must not be a prohibited person (e.g. subject to sanctions or a politically exposed person, except with prior Bank approval). Clients must not be listed on any government or internal blacklist related to money laundering, terrorism financing or sanctions.

2.2. Types of Accounts. Asprofin Bank offers various types of accounts in supported currencies (such as USD, EUR and others). These include personal (individual) accounts and corporate (business) accounts. Business accounts are intended only for business purposes and require appropriate corporate documentation (e.g. articles of incorporation, board resolutions). The Bank may also offer special-purpose accounts (e.g. merchant accounts, escrow or trust accounts). Additional regulations or agreements may apply to such accounts. The Client must submit a written request and follow the Bank’s procedures to open any special account.

2.3. Transaction Limits and Currency. Transaction and balance limits apply and are posted on the Bank’s website or tariff sheet. The Bank may impose or adjust limits unilaterally for regulatory, risk or security reasons. If the Client disagrees with any imposed limit, the Client may contact the Bank or close the account.

2.4. Customer Information. The Client must provide complete, truthful and up-to-date personal (or business) information during account opening and at all times. The Bank conducts Know-Your-Customer (KYC) and Anti-Money Laundering (AML) checks. The Client agrees to promptly provide any additional documents or information requested by the Bank (e.g. identity documents, proof of address, source of funds). Failure to cooperate or to keep information current may result in account suspension or closure.

2.5. Account Access. Upon account opening and verification, the Bank will provide the Client with login credentials or other access means to use the online account. Each Client may hold multiple accounts (e.g. different currencies) under the same login. The Client is responsible for safeguarding access credentials (see Section 9).

2.6. Third-Party Accounts. The Client agrees that the account is opened on behalf of the Client or the Client’s organization. If an account is opened on behalf of a third party, the Client must provide a valid power of attorney or other legal authorization acceptable to the Bank. Such authorization must explicitly permit the third party to operate the account and transact on it.

2.7. Representations. The Client represents and warrants that all information and documents provided to the Bank (identity, business activities, authorized persons, source of funds, etc.) are true, complete and not misleading. The Bank relies on these representations in entering into and continuing the business relationship. If any information changes, the Client must notify the Bank immediately.

3. Incoming Transfers

3.1. Receiving Funds. The Client may receive funds (incoming transfers) into the Client’s Account. The Bank’s liability is limited to crediting the Account once the Bank actually receives the funds. The Bank is not responsible for delays, intermediary bank fees or partial transfers caused by the sending bank or correspondent banks. The Client will see incoming credits in the online account transaction history.

3.2. Required Information. To receive a transfer, the Client must provide the payer with the Bank’s required account details (e.g. Asprofin Bank account name, number/IBAN, bank SWIFT/BIC, and any reference). Omitting or providing incorrect mandatory details (name mismatch, wrong account number, etc.) may cause delay or rejection of the transfer, for which the Bank is not liable. If an incoming transfer has incorrect information, the Bank may return the funds or correct the error (charging a fee if applicable).

3.3. Restrictions. For regulatory or risk reasons, the Bank may refuse or impose conditions on incoming transfers from certain jurisdictions or sources. The Bank may set or change limits on incoming transfer amounts. The Bank will inform the Client of any such limits or special requirements through the Bank’s website or online account unless prohibited by law.

3.4. Credit Date. The value date of an incoming transfer (the date the funds become available in the Account) will be no later than the Business Day on which the Bank receives the funds. If the Bank does not offer currency conversion for the incoming currency, the transfer may be rejected.

4. Payments and Outgoing Transfers

4.1. Internal Transfers. Clients may transfer funds between their own Asprofin Bank accounts or to other Asprofin Bank clients’ accounts. To initiate an internal transfer, the Client must log in to the online account and follow the transfer instructions (entering the correct Asprofin account number or registered email and amount).

4.2. Domestic EFT Transfers. The Client may make domestic or regional electronic funds transfers (EFT) from the Account to a third-party bank account. The Client must provide the beneficiary’s name, bank account number (or IBAN), and any required routing information (such as SWIFT/BIC or national clearing code). The Client must ensure that all beneficiary information is accurate. These transfers will be processed by the Bank and delivered in accordance with domestic payment system rules.

4.3. SEPA Transfers. For euro-denominated payments to accounts in the European Single Euro Payments Area (SEPA), the Client may initiate SEPA credit transfers if supported by the Bank. The Client must provide the beneficiary’s name and IBAN. SEPA transfers are subject to SEPA regulations and may take up to one Business Day.

4.4. International (SWIFT) Transfers. The Client may make international wire transfers (via the SWIFT network) to any bank account worldwide. To do so, the Client must submit a Payment Order with the beneficiary’s full name, address, account number (or IBAN), bank name, SWIFT/BIC, and any other required details. The Client must also select the type of SWIFT charge option:

• SHA (Shared) – The Client pays Asprofin Bank’s fees; the beneficiary’s bank pays its own fees.

• BEN (Beneficiary) – The beneficiary bears all transfer fees (including Asprofin Bank’s and intermediaries’).

• OUR (Our) – The Client pays all fees (Asprofin Bank’s and any correspondent banks’ fees).

The Bank will debit fees and charges as specified in the Tariff. International transfers are executed under SWIFT rules and must comply with all applicable laws.

4.5. Recurring Payments and Mass Payments. The Client may schedule recurring transfers by authorizing the Bank to debit the Account on specified dates (e.g. regular bill payments). Business Clients may use the Bank’s mass payment (batch payment) feature to pay multiple beneficiaries in a single operation. Access to mass payments may require a separate agreement or qualification by the Bank.

4.6. Chargebacks and Refunds. Once an outgoing transfer is executed, it is irrevocable. The Bank will not reverse a transfer except in accordance with applicable law (e.g. fraudulent transaction claims, duplicate payments) and Bank policy. The Client may not abuse chargebacks (for example, disputing a legitimate debit).

5. Client Instructions

5.1. Form of Instruction. All instructions, requests or communications from the Client must be in writing or through the Bank’s authorized electronic platform (online banking or mobile app). The Client must follow the Bank’s procedures when sending Payment Orders or other instructions. Verbal instructions must be confirmed in writing by the Client.

5.2. Electronic Orders. Payment Orders submitted via the online banking platform (including approved software or APIs) are deemed received and authorized by the Client when received by the Bank. Once the Bank accepts a digital Payment Order, it is generally irrevocable. The Bank may refuse instructions if there is any doubt about their authenticity or clarity. The Bank is not liable for unauthorized or incorrect instructions sent by email, fax or other unsecured means. The Client indemnifies the Bank against all losses or claims arising from instructions sent by non-secure channels.

5.3. Execution Conditions. The Bank will execute a valid Payment Order only if the Account has sufficient available balance to cover the transfer and all applicable fees. The Bank may refuse to execute a payment if: the Account has insufficient funds, the order appears unauthorized or fraudulent, the transaction would breach this Agreement or any applicable law (including anti-money laundering, sanctions or Dominica laws), or if execution would expose the Bank to legal risk. For example, the Bank may refuse any instruction from or to a sanctioned country, or any transaction that appears unlawful.

5.4. Overdrawn Accounts. At its discretion, the Bank may process a transaction that overdraws the Account. This is not an obligation on the Bank’s part, and the Bank is not required to notify the Client in advance. Any overdraft must be promptly reimbursed by the Client. If the Client fails to cover overdrafts, the Bank may impose late fees or send the debt to collection.
5.5. Execution Timeframes. The Bank will make reasonable efforts to execute Payment Orders promptly. Internal transfers (within Asprofin Bank) are typically completed on the same Business Day. For other transfers, internal processing deadlines apply (e.g. transfers submitted by a certain cut-off time on a Business Day are processed that day; others are processed on the next Business Day). The Bank’s tariff or website will describe specific execution deadlines. In any case, the Bank will execute domestic EFT orders by the end of the next Business Day after receipt.

6. Refused and Unauthorized Transactions

6.1. Refusal Notice. If the Bank refuses to carry out a Payment Order, it may (at its discretion and unless prohibited by law) notify the Client of the refusal and the reason. Such notice may be provided by email or via the online portal. The Client understands that the Bank is not obliged to give detailed reasons for every refusal. The Bank may charge a fee for providing any additional information about a refusal, as set out in the tariff.

6.2. Authorized Transactions. The Client is responsible for all authorized transactions on the Account. This includes all transactions made with the Client’s cards, account number, login credentials, or any other personalized security feature. The Client is also responsible for transactions made by any person to whom the Client has given access (knowingly or through negligence). The Client agrees that allowing any other person (such as an employee, agent or any other user) to use the Client’s credentials or account is at the Client’s own risk, and all such transactions will bind the Client.

6.3. Unauthorized Transactions. The Client must promptly notify Asprofin Bank of any unauthorized, disputed or incorrect transaction. If the Client notifies the Bank in a timely manner after discovering an unauthorized transaction, the Bank will investigate. If the Bank confirms the transaction was unauthorized or erroneous, the Bank will refund the Client for the amount (less any applicable fees), subject to any legal limits. Clients who do not report unauthorized transactions within the time required by law or this Agreement may bear the loss.

6.4. Liability for Unauthorized Use. The Client remains liable for any losses caused by unauthorized use of the account or payment instruments if the Client contributed to the loss (for example, by failing to keep credentials secure or by delay in notification). The Bank’s liability for unauthorized transactions is limited by law. For non-consumer (business) Clients, any refund or liability claims may not include fees or interest lost.

6.5. Limits on Bank Liability. The Bank will not compensate the Client for indirect or consequential losses arising from unauthorized or failed transactions. In any case, the Bank’s liability (if any) for incorrect or unexecuted transactions is limited to amounts allowed by law. (See Sections 13 and 15 below for further liability limitations.)

7. Card Transactions

7.1. Issuance and Activation. If the Client is issued a Card by Asprofin Bank, the Client (or authorized cardholder) may use it once activated. Cards will be issued in a currency supported by the Bank and mailed to the Client’s registered address. Upon receipt, the Client must follow activation instructions (which may include verifying ID) and sign the back of any physical card. Cards are only valid for the designated Account once fully activated.

7.2. Permitted Uses. The Card may be used to pay for goods and services at merchants that accept it (in-person or online), to withdraw cash at ATMs, or to make other allowed transactions. The Bank may impose daily or per-transaction limits (as published on the Bank’s website).

7.3. Irrevocability. Card transactions are irrevocable once executed. A Card payment becomes final when the transaction is processed (e.g. PIN entered and approved, or card data entered online with CVC code). The Client or cardholder must therefore ensure sufficient funds are in the Account before authorizing a Card payment. Once a Card transaction is completed, it cannot be unilaterally reversed by the Client.

7.4. Authorized Cardholder. If the Card bears the Client’s name, only the named cardholder may use it. Allowing others to use the Card, or disclosing the PIN or CVV, is strictly prohibited. All transactions on the Card will debit the linked Account. The Client may request additional cards (e.g. virtual sub-cards or cards for employees) under separate arrangements.

7.5. Prohibited Use. The Card may not be used to purchase virtual currencies (cryptocurrencies) or to fund any crypto-wallets. Other prohibited uses include any transactions that violate laws or these Terms (see Section 11). If the Bank identifies prohibited card usage, it may block the card or close the Account.

8. Record Keeping and Statements

8.1. Electronic Records. Asprofin Bank will keep records of all transactions, communications and documents in electronic format. These records constitute the official account of transactions. The Bank may destroy records after the retention period required by law (e.g. as per Dominica’s Proceeds of Crime Act, 2014). The Bank may provide electronic copies of statements or other documents to the Client upon request.

8.2. Statements. Clients can view and download account statements and transaction history through the online banking portal. The Bank will not send regular paper statements by mail. It is the Client’s responsibility to review their transactions and notify the Bank of any discrepancies. The Bank’s transaction records, as maintained in the online account, are considered conclusive proof of the state of the account (except in cases of manifest error).

9. Security Features and Credentials

9.1. Provided Credentials. The Bank provides the Client with certain personalized security features to protect the Account and Service access. These may include a unique username, strong password, and two-factor authentication (e.g. SMS or app codes). For physical Cards, security features include PIN and CVV/CVC codes.

9.2. Confidentiality. The Client must keep all security credentials (username, password, PIN, codes, etc.) strictly confidential. The Client must not disclose or share any login information, two-factor codes, or card details with unauthorized persons. The Client is fully liable for any losses due to unauthorized transactions if the Client fails to protect their security features. If the Client suspects any credential has been compromised, they must change it immediately and notify the Bank.

9.3. Business Accounts. For business accounts, the Client may allow employees, agents or representatives to access the account. Any person given access credentials to a business account is considered authorized by the Client. The Client is responsible for assigning appropriate permissions within the online platform. All actions by authorized users (e.g. approving payments) bind the business. The Bank may require that such users undergo identity verification.

9.4. Reporting Security Incidents. The Client must report any loss, theft or unauthorized use of their Account, cards or credentials without delay. Notification should be made to the Bank’s contact center or through the online portal’s secure messaging. Prompt reporting allows the Bank to take preventive measures (such as blocking a card).

9.5. Suspension for Security. The Bank may suspend part or all of the Service (e.g. block an Account or Card) if it suspects that security has been compromised, or if unauthorized or fraudulent activity is detected. The Bank will notify the Client of any such suspension through the online portal or other available means. Service or credentials may be restored once the issue is resolved and the Client has complied with any requirements.

9.6. Mandatory Security Measures. The Client may not disable or circumvent any security features (such as two-factor authentication) installed by the Bank. These features are mandatory to protect the Account.

10. Client Confidentiality and Data Protection

10.1. Bank Secrecy. Asprofin Bank is bound by the banking secrecy laws of the Commonwealth of Dominica. All Client information disclosed to the Bank (personal data, account details, transaction history, etc.) is confidential and will not be disclosed without the Client’s consent, except where required or permitted by law.

10.2. Permitted Disclosures. The Bank may disclose Client information if required by law or regulation. Such disclosures include, without limitation: tax reporting requirements (e.g. FATCA, CRS), court orders, subpoenas, regulatory investigations, or government agency requests. The Bank may also disclose information to its professional advisors (auditors, legal counsel) or to successors/assignees of the Bank, and to other financial institutions with similar confidentiality obligations when necessary for transactions. The Bank will disclose only the minimum information needed for legal compliance.

10.3. AML/KYC Consent. The Client acknowledges that the Bank’s provision of services depends on the Bank’s ability to conduct due diligence. The Bank may obtain or verify information about the Client from third parties (credit bureaus, other banks, corporate registries) as permitted by law. The Client agrees that the Bank may share the Client’s data (including personal and sensitive data) with trusted third parties for identity verification, fraud prevention and AML compliance. These third parties may keep a record of the Client’s information.

10.4. Data Protection. Asprofin Bank collects and processes the Client’s personal data in accordance with applicable data protection laws. By using the Service, the Client consents to the Bank’s Privacy Policy, which governs how the Bank handles personal information. The Bank uses industry-standard security to protect Client data. The Client should not post sensitive personal data on unsecured messages or emails.

11. Permissible and Prohibited Transactions

11.1. Permitted Uses. The Client shall use the Services in good faith and only for lawful purposes permitted by these Terms. The Client must comply with all conditions (e.g. transaction limits, option settings) published by the Bank. Use of the Service must also comply with all applicable laws and regulations.

11.2. Prohibited Uses. It is strictly forbidden to use the Service for any illegal or unauthorized purpose. Without limiting the foregoing, the Client shall not:

• Engage in any fraudulent activity, money laundering, terrorist financing, evasion of taxes or sanctions, or any other unlawful conduct.
• Provide false or misleading information to the Bank (e.g. fake identity, multiple registrations).
• Abuse the chargeback or reversal process (e.g. disputing legitimate transactions to gain refunds).
• Use the Service to facilitate cash or credit advances from merchants, or to fund gambling debts.
• Accept funds or make payments related to prohibited industries as defined by the Bank (see list below).

11.3. Prohibited Transactions. The following activities (among others) are expressly prohibited: gambling or betting activities (online or offline), sale or distribution of illegal drugs or pharmaceuticals without a license, trafficking in weapons or ammunition, unlicensed gaming or lotteries, pyramid or Ponzi schemes, sale of counterfeit or stolen goods, and any other transactions that violate law. The Bank may add to this list as required by law or network rules. If the Client engages in prohibited transactions, the Bank may immediately close the account and report the activity to authorities.

12. Fees, Charges and Currency Conversion

12.1. Tariff. The Bank’s fees, charges and applicable interest rates are set out in its published Tariff (available on the Bank’s website). Unless a separate written agreement states otherwise, all services are subject to the current tariff. The Client agrees to pay all fees for account maintenance, transfers, currency conversions, card issuance, ATM withdrawals, monthly inactivity (dormant account fees), and any other services as specified.

12.2. Additional Expenses. If the Bank incurs any third-party expenses on the Client’s behalf (legal fees, notary fees, court costs, investigation charges, etc.), the Client will reimburse these expenses. The Bank is authorized to debit these costs directly from the Client’s Account without further consent.

12.3. Changes to Fees. The Bank may change its tariff unilaterally. Notice of any fee or interest rate change will be given at least one month in advance via the Bank’s website or electronic notice. If the Client does not agree with the new fees, the Client may terminate the account per Section 14.

12.4. Currency Conversion. If a transaction requires converting from one currency to another, it will be done at the Bank’s exchange rate. The rate is generally based on wholesale market rates and may include a spread or percentage fee (as stated in the Tariff). The applicable rate is the rate in effect at the time of processing the transaction. For point-of-sale (POS) transactions offered in foreign currency, the Client will be notified of the conversion rate or fee in advance. The Bank is not responsible for currency conversion done by merchants or ATM providers.

12.5. Incoming Foreign Transfers. If the Client receives an incoming transfer in a currency different from the Account’s currency, the Bank will convert the funds into the Account’s currency at the prevailing buy/sell rates. If Asprofin Bank does not quote the transfer currency, the Bank may reject the transfer.

13. Client Liability and Indemnity

13.1. Unauthorized Transactions. The Client is fully liable for any losses or damages resulting from unauthorized or fraudulent transactions if such losses arise from the Client’s fraud, negligence or failure to follow these Terms. In particular, if the Client knowingly provides login credentials or cards to an unauthorized person, the Client bears the risk.

13.2. Client Protection. If the Client promptly notifies Asprofin Bank of an unauthorized or incorrect transaction and the Bank can act without undue delay (for example, by blocking the Account), the Bank will refund the Client for the unauthorized transaction amount (except fees). This applies only to losses incurred after notification. For non-consumer clients, refund of interest or fees on payments may not be available.

13.3. Indemnification. The Client agrees to indemnify and hold harmless the Bank and its affiliates from any claims, liabilities, losses or expenses that arise from the Client’s use of the Service. This includes any losses or negative balances caused by the Client or any person acting on the Client’s behalf (e.g. employees, representatives). In particular, the Client is responsible for any chargebacks, fees or fines imposed by card networks or third parties related to the Client’s transactions. The Bank may debit the Client’s account or collateral for any debt owed to the Bank.

13.4. Set-off. The Bank has a right of retention over all Client funds in any Account until the Client has paid all outstanding fees, costs and obligations to the Bank. The Bank may also set off (net) any amount owed by the Client against any amounts owed by the Bank to the Client (including by using the Client’s funding instrument). The Bank will inform the Client of any such set-off when feasible.

13.5. Late Payments. If the Client fails to pay any amount due to the Bank (other than a transaction payment) by its due date, the Client will owe interest on the overdue amount at the Dominica Eastern Caribbean Central Bank’s base rate (applied daily) until paid.

14. Termination of Services

14.1. Voluntary Termination (by Client). The Client may terminate these Terms and close the Account(s) at any time, without penalty, by fulfilling the following steps: (a) providing written notice to Asprofin Bank (by the methods described in Section 17); (b) closing out the Account(s) (withdrawing or transferring any remaining balance); and (c) returning all Cards or payment devices to the Bank. The Client is responsible for any transactions or fees incurred prior to closure.

14.2. Voluntary Termination (by Bank). The Bank may stop providing any Service and may close a Client’s Account at any time by giving notice (see below). The Terms continue to apply until fully terminated as described herein.

14.3. Post-Termination Holds. After termination, the Bank may retain the Client’s remaining funds for up to 180 days (or longer if required by law) to cover any chargebacks, claims or regulatory obligations arising from the Client’s use of the Service. The Client remains liable for any obligations incurred before or after termination, including compliance with AML reporting.

14.4. Immediate Closure for Breach. The Bank may close the Client’s account and terminate this Agreement immediately, without notice, if the Client breaches any material term of this Agreement or any applicable law/regulation. Examples include: providing false information, engaging in prohibited activities, or otherwise acting in bad faith. The Bank may also terminate immediately if required by law or card network rules. In such cases, the Client must cooperate with any account wind-down procedures.

14.5. Notice of Termination (by Bank). Unless otherwise required by law, the Bank may terminate the relationship for any reason by giving the Client notice (e.g. 2 months’ notice by email). In its sole discretion, the Bank may also terminate immediately with or without cause. Upon termination, any transaction in process will be handled according to applicable rules.

14.6. Survival of Obligations. Even after termination, Sections of this Agreement that by their nature should survive (such as indemnity, confidentiality, liability, dispute resolution) will remain in effect. The rights and obligations incurred while the Agreement was in force continue to bind both parties.

14.7. Death or Insolvency. (a) Individual Clients: On the death of an individual Client, this Agreement and Account will be governed by law of succession. The Bank may freeze the Account until it is satisfied that the correct heirs or executors are authorized to operate it. (b) Corporate Clients: If a corporate Client is liquidated or enters bankruptcy or other insolvency process, the Bank will require proof of the liquidator’s or trustee’s authority before accepting any instructions. If a company dissolves and assets remain in the Account, the funds may be remitted to the government as ownerless property (bona vacantia) following legal process.

15. Warranties and Liability

15.1. No Warranties. Except as expressly provided herein, Asprofin Bank makes no warranties or representations about the Services. The Bank does not guarantee that the Services will meet the Client’s requirements or expectations, or that they will be uninterrupted, timely, free of errors, or completely secure. All services are provided “AS IS” and “AS AVAILABLE”, subject to applicable mandatory consumer rights.

15.2. Force Majeure and Third Parties. The Bank is not liable for failures or delays caused by events beyond its reasonable control (force majeure), or by acts/omissions of third parties (e.g. correspondent banks, service providers). The Bank will exercise reasonable care in selecting third parties, but cannot guarantee their performance.

15.3. Liability Cap. Subject to mandatory law, Asprofin Bank’s liability to the Client is limited. The Bank (and its agents or subcontractors) will not be liable for any indirect or consequential losses (such as lost profits, loss of business or goodwill, or loss of data) suffered by the Client. The Bank is not liable for any fees, interest, or damages claimed by the Client or third parties due to incorrect or late payment performance, except where required by law.

15.4. No Liability for Certain Losses. The Bank is not responsible for any loss or damage the Client incurs from relying on incomplete or inaccurate information, from service changes, or from data deletion or corruption. For example, the Bank will not compensate the Client for losses caused by merchant errors, client input errors, phishing attacks, or by the Client’s own negligence.

15.5. Statutory Rights. Nothing in these Terms excludes or limits the Bank’s liability for death or personal injury caused by its negligence, or for fraud or other liability that cannot be lawfully excluded. Mandatory consumer protection rights (for individual Clients) remain unaffected.

16. Changes to the Terms

16.1. Right to Amend. Asprofin Bank may amend these Terms and Conditions at any time. The Client will be notified of material changes by email or via the Bank’s website in advance of the change’s effective date. The Client’s continued use of the Service after the effective date will constitute acceptance of the revised Terms.

16.2. Client Objection. If the Client does not agree to the changes, the Client may terminate this Agreement as described in Section 14 before the changes take effect. If the Client takes no action, the changes will be deemed accepted.

16.3. Policy Updates. The Bank may also update its policies, fee schedules or add new features with notice (which may be given by posting on the website or by email). The Client agrees that updates announced in this manner are binding once published.

17. Communications and Notices

17.1. Language and Accessibility. All communications from the Bank will be in clear English and in a form reasonably accessible to the Client. The Bank may provide information or notices by letter, email, online posting, or any other reasonable means.

17.2. Electronic Communications. The Client agrees that the Bank may communicate by electronic means. In particular, important notices (e.g. terms updates, disclosures) may be sent by email to the Client’s registered email address or posted on the Bank’s website/online portal. The Client consents to receive such electronic communications and understands that this Agreement and any amendments may be delivered electronically.

17.3. Specific Notices: The following will be provided as indicated:

• Account Statements and Balances: Available at all times via the Client’s online account (transaction history).
• Transaction Alerts: Notices of transaction rejections, suspensions or other status changes will be shown in the Client’s online account.
• Termination Notices: If the Bank wishes to terminate the Agreement, it will notify the Client by email. If the Client wishes to terminate, notice should be sent as per Section 17.5.

17.4. Record of Communications. The Client should keep copies of important electronic communications (e.g. by printing or saving emails). Documents provided electronically are considered “in writing” for the purpose of this Agreement.

17.5. Notices to the Bank. Notices or requests by the Client to Asprofin Bank should be sent by registered mail to the Bank’s registered address (given above), or by secure message through the online portal. However:

• Urgent Notices (Security): Any report of loss/theft of Cards or credentials, or any suspected unauthorized access, must be made immediately by phone (to the Bank’s contact center number) or through the online portal’s emergency contact function.

• Disagreement with Amendments: If the Client does not agree to an amendment and wishes to terminate the Agreement before it takes effect, the Client must notify the Bank by secure message via the online portal or by email using the Client’s registered email address.

18. Complaints

18.1. Internal Complaint. If the Client has any complaint or dispute regarding the Account or these Terms, the Client should first contact Asprofin Bank’s Complaints Officer in writing. Complaints can be sent by postal mail to the Bank’s address above or by email to complaints@asprofinbank.org (or the address provided by the Bank). The Client should clearly explain the issue. The Bank will acknowledge receipt and investigate the complaint promptly. The Bank will endeavor to resolve the matter and inform the Client of the outcome within a reasonable time.

18.2. Regulatory Escalation. If the Client is not satisfied with the Bank’s resolution, the Client may escalate the complaint to the Financial Services Unit of Dominica (the financial regulator) at:

Financial Services Unit (FSU)
5th Floor Financial Centre, Kennedy Avenue
Roseau, 00109-8000
Commonwealth of Dominica
Tel: +1 (767) 266-3514 / +1 (767) 266-3073

19. General Provisions

19.1. Currency. Unless otherwise stated, all fees, charges, and account denominations are in United States Dollars (USD). The Bank may allow accounts in other major currencies as advertised.

19.2. Agents and Subcontractors. The Bank may use agents, distributors or subcontractors to provide services on its behalf. Any such parties are authorized to act within the scope of their engagement, but the Bank remains responsible for their performance as required by law.

19.3. Entire Agreement. This Agreement (including any schedules, the Privacy Policy, Confidentiality Policy, Tariff, and any applicable appendices) constitutes the entire contract between the Client and Asprofin Bank regarding the Service. It supersedes any prior agreements or understandings (except any other written contracts the Bank may enter into separately).

19.4. No Waiver. If the Bank fails to enforce any right or remedy under these Terms, that failure does not constitute a waiver. The Bank retains all rights and may enforce any provision at a later time.

19.5. Severability. If any provision of these Terms is held invalid or unenforceable by a court of competent jurisdiction, that provision will be removed to the extent of the conflict, and the remaining provisions will continue in full force.

19.6. Assignment. The Client may not assign or transfer its rights or obligations under this Agreement without the Bank’s prior written consent. The Bank may assign its rights and obligations to another licensed bank or financial institution, with at least two months’ notice to the Client. If the Client does not agree to such assignment, the Client may terminate the Agreement without penalty.

19.7. Evidence of Transactions. Both parties agree that the Bank’s electronic records (including printed or online statements, transaction logs, and system records) are conclusive evidence of all transactions. These records shall be accepted in any legal proceedings as proof of the accuracy and occurrence of transactions unless proven otherwise.

19.8. Intellectual Property. The names “Asprofin Bank”, “Asprofin Bank Card”, the Bank’s logos, trademarks, software and website designs are protected by intellectual property laws. The Client may not use, copy, modify or otherwise exploit any of the Bank’s trademarks, logos, domain names or proprietary software, or the trademarks of any card network, without the Bank’s express permission.

19.9. Governing Law. These Terms shall be governed by and construed in accordance with the laws of the Commonwealth of Dominica (without regard to conflict of laws principles). Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of Dominica’s courts.

Last updated: 26th May 2025
These Terms and Conditions are provided for reference and are intended to be a comprehensive legal agreement between Asprofin Bank and its Clients. They should be read carefully. By applying for or using any Asprofin Bank service, the Client agrees to be bound by all terms herein.