Excerpt from the terms and conditions for the purpose of contractual clarity.

I. Online currency exchange service available at https://cambiavalute.ch;

II. The Client must necessarily hold a bankaccount denominated in Swiss Francs and a bankaccount denominated in Euros;

III. The customer must necessarily be the holder of at least two accounts denominated in different currencies, among: Swiss Francs, Euros, and US Dollars.

IV. It is not possible:

a) Send money to third parties;

b) Exchange cash for cash;

c) Withdrawals or deposits at our office.

V. If the money to be exchanged arrives at the Company after 6:00 p.m., the appropriate order will be processed during the next business day;

VI. Service is not instantaneous. The Company will endeavor to process the exchange transaction as quickly as technically possible, but the maximum time frame is 4 business days;

VII. The Company will not bear the cost of transfers charged to the customer by his bank;

VIII. The reserved and fixed exchange rate is valid until the expiration of the banking day following the day of the request;

IX. Manual changes made or to be made to the exchange transaction will incur a fee of CHF 20.

1) Preamble

This agreement (hereinafter referred to as the "Contract") governs the relationship between the user (hereinafter referred to as the "Client") and the company ELP SA (hereinafter referred to as the "Company") and applies to the use of the online currency exchange service offered through the websites cambiavalute.ch and wiretransferexchange.com (hereinafter the "Service"). Prior to using the Service, the Client declares to have carefully read, understood, and accepted the Contract and all attachments and documents referred to therein. Any use of the Service by the Client shall constitute acceptance of the agreements. We invite the Client to save or print a copy of the Contract and all attachments and documents referred to therein. The Contract and all attachments and documents referred to therein constitute the entire agreement and replace any previous oral or written agreements, correspondence, agreements, or understandings between the Company and the Client.

2) Eligibility

To use the Service, one must be at least 18 years of age. The Service is reserved for individuals or legal entities residing in Switzerland or with demonstrable interest in the Swiss territory. The Client must declare in the appropriate online form that they are not acting on behalf of an undisclosed third party principal or on behalf of a third-party beneficiary.

3) Rejection of a Client

The Company reserves the right, at its discretion, to accept or reject any Client or any transaction. In the event of a Client's rejection by the Company, the Client will be notified via email. Any funds sent by the Client to the Company will be returned to the originating account in the same amount and currency. In case the Company is unable to return the payment (e.g., if the provided bank coordinates are incorrect), the Company will immediately contact the Client using the most up-to-date contact information in its possession.

3.1) Prohibited Business Activities

The Company reserves the right to refuse any customer (natural or legal person) and/or any organization and/or individual whose business activities or practices are included or similar to those described below (for example, activities and/or practices considered prohibited, illegal, or may cause reputational, regulatory, financial, or operational damage to the Company).

The refusal of one or more Customers also includes the limitation of:

a) where customers can send money;

b) to whom I can send money;

c) from whom I can receive money.

The Company reserves the right to deny its services to any Customer who exceeds the internal risk tolerance threshold.

Business activities and/or practices that may lead to the refusal of a customer are all those business activities and/or practices that violate Swiss law or that:

  • in any way violate local, national, or international laws or regulations or that cause the Company to violate any applicable laws or regulations;
  • are illegal or fraudulent in any way or that have an illegal or fraudulent purpose or effect;
  • aim to harm or attempt to harm persons, both adults and minors, in any way;
  • are abusive, harmful, or not in line with the Service standards;
  • generate any form of unsolicited or unauthorized advertising, promotional material, or any other form of spam;
  • deal with malicious programs such as viruses, spyware, or similar computer codes designed to negatively impact the functioning of any computer software or hardware;
  • may facilitate or encourage tax evasion and/or avoidance.


All lists, catalogues, examples, and references that follow are representative and not exhaustive.

The Company reserves the right to refuse to provide its services to any customer who engages in any of the following activities or practices:

Illegal products and services:

  • illegal substances and/or substances designed to imitate illegal substances as well as equipment intended for the production or use of illegal substances under Swiss law;
  • services for providing false identity documents and/or fake references;
  • equipment for the illegal manipulation of telecommunications, including jamming devices;
  • any activity or product or service that encourages, promotes, or celebrates violence against groups of people identified by race, religion, disability, gender, sexual orientation, national origin, or any other peculiar characteristic;
  • sale of counterfeit goods;
  • sale of goods illegally imported or exported;
  • activities related to gambling that is not authorized or licensed by a government entity or gambling activities related to countries such as Turkey, the United States of America, or Canada;
  • activities or products aimed at violating rights such as: intellectual property, copyright, patents, trademarks, trade secrets, and general property rights;
  • illegal products and services or that do not meet the requirements and prescriptions of Swiss law.


Unaccepted financial and/or professional services:

  • Provision of financial and/or money-related services without proper license or authorization;
  • Services for the purchase, sale, exchange, trading, and transfer of cryptocurrencies;
  • Investment and credit services (brokerage, mortgage consulting or debt reduction services, credit counseling or repair, real estate opportunities, lending instruments, crowdfunding) unless explicitly approved by the Company and regulated/authorized by the competent authority;
  • Services related to so-called shadow banks;
  • Platforms that enable the trading and/or exchange of financial instruments in an abusive manner;
  • Any other financial service that operates without a license when one is required;
  • Services that facilitate payments and/or financial services in which the parties involved are anonymous;
  • Services related to binary options and factoring;
  • Services that have the purpose of using the Company's account or accounts as a guarantee or custody account.


The Company reserves the right to deny its services to any Customer who has ties to:

  • one or more of the following countries (also defined as "black/grey list" according to FATF): Albania, Barbados, Burkina Faso, United Arab Emirates, Philippines, Jamaica, Gibraltar, Jordan, Haiti, Iran, Cayman Islands, Mali, Mozambique, Myanmar, Nigeria, Panama, Democratic Republic of the Congo, Democratic People's Republic of Korea (DPRK), Senegal, Syria, South Africa, South Sudan, Tanzania, Turkey, Uganda Yemen. List updated as of June 23, 2023. In case of doubt, the Company encourages the consultation of official sources, available through the links provided above.
  • one or more countries for which one of the following conditions applies:

4) Rejection of a Transaction

The Company will automatically reject payments from countries other than Switzerland or not belonging to the European Union ("EU"). The Company will automatically cancel exchange requests for which the Client requests a payment to a country other than Switzerland or an extra EU country. The Company will automatically reject payments to third parties. The Company will automatically cancel exchange requests for which the Client requests a payment to a bank account not in the Client's name. For all the aforementioned cases, except for the rejection of a Client by the Company, the Company will apply a fee of 20 CHF or equivalent for administrative expenses. This fee will be deducted from the amount received from the Client.

5) Use of the Service

To use the Service, the Client must complete the online registration and exchange request form. The Client must provide truthful and accurate information and attach all required documentation for the counterparty identification process, commonly known as "Know Your Customer" (KYC). Even after registration, the Company reserves the right to request additional documentation from the Client for the proper provision of the Service and for the correct recordkeeping of each Client, as required by the terms of the Law. The Client will receive an email containing the details of the booked exchange transaction and the bank references to send the money to be exchanged. It is necessary to prepay the exchange, and it is the Client's responsibility to send the funds to the Company promptly through a bank transfer. The payment order is considered complete only when the Company receives the funds sent by the Client. The Company will not be responsible for any losses or damages suffered by the Client due to a transaction or payment made according to the instructions given by the Client.

6) Exchange Rates and Fees

The Company constantly strives to offer the Client the best possible exchange rate. To achieve this, the Company relies on aggregated information sources from third parties and procures liquidity in the Foreign Exchange (ForEx) markets using primary institutional counterparties. The Company does not apply any commission for the currency exchange transaction or for receiving or making payments from and to the Clients but obtains an intermediary margin from the "spread," i.e., the difference between the price offered to the Client and the price obtained in the ForEx market. The Client chooses the exchange rate at which the transaction will be executed when booking the exchange transaction through the online form. The Client receives a confirmation via email immediately after submitting the request form. The indicated exchange rate will be fixed and agreed upon between the Company and the Client (hereinafter the "Agreed Rate") for a maximum period corresponding to the end of the next banking business day after the date of the exchange request. The date stated within each Client's reserved area, corresponding to the individual exchange request, in the section "My activities," will be taken into account. The Company will convert the received amount into the currency requested by the Client at the Agreed Rate, provided that the money reaches the Company's bank account within the term of the next banking business day after the date of the exchange request. If the money that the Client has indicated to exchange through the online form reaches the Company's bank account after the specified term, the Agreed Rate will no longer apply. The Company will then proceed with the exchange at the rate available on the website at the time of the exchange transaction's execution by the operator.

7) Automatic Currency Exchange Requests

The Service allows the Client to:

A. Set up an automatic currency exchange request conditioned to a specific market rate > The Service will automatically create an exchange request at the rate predetermined by the Client. If the Client chooses a worse rate than the market rate, the exchange request will be created at the market rate, following the practice called "Best Execution." The request will be created only once, when the condition is met. The system should be considered an aid to the Client and not a stock order. The Company provides no guarantee regarding future exchange rates or the acceptance of the related transaction.

B. Set up an automatic currency exchange request conditioned to a specific market rate > The Service will automatically create an exchange request at 09:00 AM, Swiss time, for the amount requested by the Client and at the exchange rate proposed by the Service on the day and at the mentioned time. The request will be created once per month, on the same calendar day. The system should be considered an aid to the Client and not a stock order. The Company provides no guarantee regarding the exchange rate or the acceptance of the related transaction.

8) "Invite a Friend and Earn!" Function

The Company allows every private Customer to earn a reward by introducing acquaintances and friends to the Service through the sharing of a unique code (hereinafter referred to as the "Referral code" or "Unique code"), according to the following terms:

8-a) The promotion is activated for every Service Customer who is a natural person, hereinafter referred to as the "Inviter." The Inviter can invite another natural person, hereinafter referred to as the "Invitee," to register for the service using the Referral Code as a reference;

8-b) The sharing of the Referral code can be done through a web link, SMS, WhatsApp, or a numeric unique code to be entered in the designated field in the registration form, which can be found at the following link: https://dashboard.wiretransferexchange.com/en/private/register;

8-c) For the purposes of the award of the prize, the Invitee shall, within 30 days from the date of receipt of the Referral code by the Referrer, complete at least one currency exchange in an amount (or also "Minimum Amount") equal to or greater than CHF 3'000 or EUR 3'000 or USD 3'000. If this occurs, according to the Terms and Conditions of Service, then both Invitee and Inviter shall be entitled to a one-time prize of 25 CHF or 25 EUR or 25 USD. The date on which the Invitee's exchange request goes into "completed" or "history" status shall be decisive;

8-d) The reward will be paid by the Company to the respective beneficiaries via bank transfer;

8-e) The currency of the reward will be the same as the destination currency of the last completed exchange operation in the Company's systems by the Invitee and the Inviter, respectively;

8-f) For rewards, the Company will use the bank details associated with the most recent completed currency-exchange operation in the Company's systems for both the Invitee and the Inviter. In the case of the first reward for a newly registered Invitee, the saved bank details in his or her customer profile on the Service portal will be used.

8-g) The Company reserves, at its sole discretion, the right to:

- deactivate the "Invite a Friend and Earn!" promotion at any time;

- modify the Minimum Amount and/or the amount of rewards without prior notice;

- cancel, delete, or not award rewards in case of irregularities in the use of the service by one or more Customers;

h) If the Company detects improper behavior on the part of Service Customers, or behavior contrary to the Terms and Conditions of the Service, it reserves the right to suspend and/or cancel any existing business relationship with said Customers, withhold any rewards, and request the return of any rewards already paid.

9) Client Identification and Clarification Requests

Before providing the Service, we are legally required to verify the Client's identity. All transactions are subject to security checks, customer identification, and checks on the origin of funds. Such checks are necessary and required by law, notably the Federal Act on Combating Money Laundering and Terrorist Financing, the PolyReg SRO regulations, and related laws. If necessary, the Company reserves the right to request information, clarifications, or documents regarding the Client's identity and/or the source of the funds at any time, before or after the exchange transaction, receipt, and/or transmission of funds. Such requests may delay the execution of the payment order. A Client's refusal to provide such documents or information will result in the Company's refusal to carry out the currency exchange transaction. Please note that, as a financial intermediary, the Company is obligated to report any illicit or suspicious activities to the competent authorities (for more information, see also the Disclaimer), as required by the Federal Act on Combating Money Laundering and Terrorist Financing and/or the PolyReg SRO regulations.

10) Payments

Each exchange order made on the website will remain inactive until the Company receives a payment via bank transfer with the money to be exchanged. It is necessary for the Client to prepay the booked exchange, and under no circumstances will the Company advance money to the Client. The Company cannot influence or expedite the time necessary for banks or payment service providers to process transfers. However, the Company regularly monitors its bank accounts (at 11:00 and 17:00 CET each business day) and sends the Client an email confirmation once the payment is received and the corresponding currency exchange is executed.

11) Timelines

The Company commits to deliver the exchanged money to the Client within 48 hours from the notification of the executed exchange, sent to the Client via email. If the funds arrive at the Company after 6:00 PM, the related order will be processed on the following business day. Please note that this timeframe depends not only on the Company but also on the actions of the banks or payment institutions involved. In exceptional market conditions or due to a high volume of exchange requests, the Company undertakes to execute the payment of the equivalent value and to send the Client proof of the executed payment within a maximum of four business days from the receipt of the funds to be exchanged.

12) Bank Transfers

Payments denominated in Euros must be made by the Client as single payments (SEPA – Single Euro Payment Area) with the "shared" commission option. Please note that only funds effectively credited to the account of ELP SA will be considered. The Company is not responsible for any fees or deductions charged by the Client's bank or by intermediary banks not related to ELP SA. Payments denominated in Swiss Francs or US Dollars must be made as national payments or, if coming from bank accounts held by the Client in the EU, should be input with the "charges paid by the beneficiary" option. The Company will only exchange the funds effectively credited to it and reserves the right to modify the exchange rate of the transaction if the amount credited is CHF 80 or more, or equivalent in EUR or USD, lower than the amount communicated to the Company by the Client through the exchange request.

13) Costs for Sending or Receiving Bank Transfers

The Client is responsible and bears any commissions applied by their bank for sending or receiving bank transfers. Under no circumstances will the Company be responsible for or reimburse the commissions charged to the Client by the Client's bank. We recommend that the Client review the conditions and commissions offered by their bank and inquire in advance about the costs of national and international transfers.

14) Multiple Exchange Requests

Each Client can have only one exchange transaction in progress/pending simultaneously. The Company does not accept new exchange requests from the same Client until the previous transaction has been completed or canceled.

15) Variation of the Exchange Rate

Between the Client's exchange request and the arrival of the payment in the Company's account, the Company applies a maximum exchange rate variation limit of 3% (hereinafter the "Limit"). In the event that, during this period, the exchange rate fluctuates more than the Limit, the Agreed Rate will be automatically updated with the new exchange rate proposed on the Company's website at the time of the receipt of the Client's payment by the Company. The Limit applies to both favorable and unfavorable exchange rate variations.

16) Limits

Limit applied to each individual exchange transaction: minimum: 100 CHF or 100 Euros or 100 USD.

17) Commissions

The Company will apply a fee of 20 CHF to cover the cost of manual intervention by the operator in the following cases:

a) The Client provides false, incorrect, or incomplete data or requests the modification of one or more data in the exchange request;

b) The Client refuses to provide one or more pieces of information requested by the Company regarding personal identification or the source of the funds;

c) The Client requests the payment of the exchange amount to an IBAN other than that communicated in the exchange request;

d) If the Company has to handle the exchange transaction requested by the Client differently from what is indicated in the exchange request;

e) If a modification, management, or manual cancellation of the exchange transaction is requested.

f) For any eventual refund to the Client of the already received or to-be-received bank transfer. This fee will be deducted from the amount received from the Client.

18) Limitation of Liability for Incorrect Data Entry

The Company is not responsible for losses or charges that the Client may incur due to the insertion of incorrect data in the exchange request form (Beneficiary, Address, IBAN Codes, BIC, Base Currency of the Account, etc.).

19) Client's Obligations

In the unlikely event of an error in the payment sent or received, the Client must immediately inform the Company. In the unlikely event that the Client receives an amount greater than the expected amount or an unexpected payment, they undertake to immediately return any surplus. The Client is required to promptly provide the Company, upon request, with information and documents identifying the counterparty, the economic beneficiary, and the lawful origin of the money used for the exchange transactions. The Client undertakes not to use the Services described here for any illegal activities, and the Company reserves the right to investigate any suspicious activities or in response to any reported complaints or violations. The Company reserves the right to report suspicious activities to the competent authorities (in this regard, also see the Disclaimer), as required by the Federal Act on Combating Money Laundering and Terrorist Financing and/or the PolyReg SRO regulations.

20) Withdrawal from the contract

Please note that exchange requests and the Agreed Rate automatically expire at the end of the next banking business day following the date the exchange request was submitted to the Company. By sending the bank transfer, the Client expressly declares to accept the exchange rate proposed in the transaction and specified in their reserved area of the portal https://dashboard.cambiavalute.ch/en and in the confirmation email. Withdrawal is no longer allowed from the moment the Company receives the Client's bank transfer. If the Client's withdrawal request is received after the bank transfer has been received, the Company reserves the right to charge the Client a fee of 20 CHF or equivalent. This fee will be deducted from the amount received by the Company. The Company will process the exchange orders received from the same client in chronological order. Withdrawal requests will not be allowed if they aim to cancel exchange orders with an Agreed Rate worse than what should have been offered on the website https://cambiavalute.ch/en at the time of the Client's withdrawal request.

21) Communications

By using the Service, the Client agrees to be contacted by the Company via email, phone, or postal mail for communications related to the exchange transaction, Client identity verification, the origin of funds, and communications related to the activities of CambiaValute.ch and wiretransferexchange.com (see Privacy Policy).

22) Complaints

The Company is committed to providing the highest standards of quality and service. For suggestions and complaints, you can write to contatto@cambiavalute.ch or by postal mail to ELP SA, Corso San Gottardo 8 A - CH 6830 Chiasso. If the Client is not satisfied, they have the right to contact the self-regulatory association to which we adhere, www.polyreg.ch, or submit a complaint through the appropriate form available on the website www.finma.ch.

23) Privacy

The protection of privacy is very important to the Company. All data collected from Clients is used solely for allowing the company to provide the currency exchange service through bank transfer, in compliance with all applicable legal requirements (the Federal Act on Combating Money Laundering and Terrorist Financing, the PolyReg SRO regulations, and related laws). ELP SA is subject to professional secrecy as provided for in Article 16 of the Federal Law on the Exercise of Fiduciary Professions (LFid) of December 1, 2009. The information transmitted between the web browser and/or the mobile app used by the client and the website CambiaValute.ch and wiretransferexchange.com is transmitted in encrypted form using the Secure Socket Layer (SSL) protocol.

24) Law and Jurisdiction

The parties expressly declare that this agreement will be governed by Swiss law. Swiss law will apply to all cases not covered by this agreement. The place of fulfillment, place of execution for all clients, including those residing abroad, and the exclusive jurisdiction for all disputes arising from this agreement and related statements is Mendrisio, Switzerland.


Last updated: 5 September 2023

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