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 Client must necessarily hold a bankaccount denominated in Swiss Francs and a bankaccount denominated in Euro

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 10.


1) Premises

This agreement (hereinafter the "Agreement") governs the relationship between the user (hereinafter the "Client") and the company ELP SA (hereinafter the "Company") and applies to the use of the online currency exchange service offered through the website cambiavalute.ch and wiretransferexchange.com (hereinafter the "Service"). Before using the Service, the Client declares that he/she has carefully read, understood and accepted the Agreement and all attachments and documents referred to therein. Any use of the Service by the Customer will constitute acceptance of the agreements. We invite the Customer to save or print a copy of the Agreement and all attachments and documents referred to therein. The Agreement and all attachments and documents referred to therein constitute the entire agreement and supersede any prior oral or written agreements, correspondence, arrangements or understandings between the Company and the Customer.


2) Eligibility

To use the Service, you must be at least 18 years of age. The Service is restricted to natural or legal persons resident in Switzerland or with a demonstrable interest in Switzerland. You must declare in the online form that you 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 at its discretion the right to accept or reject any Client or any transaction. If the Company rejects a Client, the Client will be notified by email. Any funds sent by the Client to the Company will be returned to the originating account in the same amount and amount. In the event that the Company is unable to return the payment (e.g., if the bank details provided are incorrect), the Company will contact the Client immediately using the most current contact information in its possession.


4) Refusal of a transaction

The Company will automatically reject payments from countries outside the European Union (hereinafter "EU"). The Company will automatically cancel exchange requests for which the Customer requests a payment to a non-EU country. The Company will automatically reject payments to third parties. The Company will automatically cancel exchange requests for which the Customer requests payment to a bankaccount that is not in the Customer's name. For all of the above cases, except for the Company's rejection of a Client, the Company will charge a fee of 10 CHF or equivalent for administrative costs. This fee will be deducted from the amount received from the Client.


5) Use of the Service

In order to use the Service, the Customer must fill in the online exchange request form. It is necessary to provide true and correct information and attach all the documentation required for the counterparty identification procedure, commonly called "Know Your Customer" (KYC). Even after registration, the Company reserves the right to request further documentation from the Customer in order to correctly provide the Service. The Client will receive an e-mail containing the details of the exchange operation booked and the bank references to send the money to be exchanged. It is necessary to pre-pay for the exchange and it is the Client's responsibility to send the funds to the Company in a timely manner by bank transfer. The payment order is considered complete only when the Company takes possession of the funds sent by the Client. The Company shall not be liable in any way for any loss or damage incurred by the Client as a result of a transaction or payment made in accordance with the instructions given by the Client.


6) Exchange rates and commissions

The Company constantly strives to offer the Client the best possible exchange rate. In order to do so, the Company relies on third party aggregated information sources and sources liquidity on the Foreign Exchange (Forex) markets, using leading institutional level counterparties. The Company does not charge any commission for the foreign exchange transaction or for receiving or making payments to and from the Clients, but obtains a brokerage margin from the "spread", i.e. the difference between the price offered to the Client and the price obtained on 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 by e-mail immediately after sending the request form. The indicated exchange rate will be fixed and agreed upon between the Company and the Client (hereinafter "Agreed Rate") for a maximum period of time that corresponds with the end of the banking day following the day of the exchange request.


7) Automatic currency exchange requests

The Service allows the Client to:

Set up an automatic currency exchange request conditional on a specific market rate. The Service will automatically create an exchange request at the rate pre-determined by the Client. In case the Customer chooses a worse rate than the market rate, the exchange request will be created at the market rate, in application of the "Best Execution" practice. The request will only be created once, as the condition is determined. The system is to be considered a client aid and not an exchange order. The Company makes no guarantee as to the future exchange rate or acceptance of the related transaction.

Set up an automatic currency exchange request on a particular day of the month. The Site will, automatically, create an exchange request at 09:00 AM, Swiss time, for the amount requested by the customer and at the exchange rate proposed by the Service on the above day and time. The request will be created once a month, on the same calendar day. The system is to be considered as an aid to the client and not as a stock exchange order. The Company makes no guarantees regarding the exchange rate or acceptance of the relevant transaction.


8) Customer identification and inquiries

Before providing the Service, we are required by law to verify the Customer's identity. All transactions are subject to security checks, customer identification and checks on the origin of money. These checks are necessary and required by law. If necessary, the Company reserves the right to request information, clarification or documentation regarding the identity of the customer and the origin of the money at any time before or after the transaction of exchange, receipt and/or sending of money. This may delay the execution of the payment order. A refusal by the Customer to provide such documents or information will result in the Company's refusal to process the transaction. Please note that the Company, as a financial intermediary, is obliged to notify the relevant authorities of any wrongdoing or suspicion.


9) Payments

Each exchange order placed on the Site will be inactive until the Company receives payment, via bank transfer, with the money to be exchanged. It is necessary for the Client to pay in advance for the booked exchange and under no circumstances will the Company advance any money to the Client. The Company cannot in any way influence or anticipate the time required by banks or payment service providers to process the transfers. However, the Company monitors its bankaccounts at regular intervals and sends the Client an e-mail confirmation once the payment is received.


10) Timing

The Company shall endeavour to get the exchanged money to the Client within 48 hours from the time of notification of executed exchange sent to the Client by e-mail. If the funds arrive at the Company after 6:00 p.m., the relevant order will be processed on the next business day. Please note that this timing depends not only on the Company, but is also determined by 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 countervalue payment and send the Client a proof of the executed payment within four working days at the latest, after the receipt of the funds to be exchanged.


11) Bank transfers

Payments denominated in Euro must be made by the Client as single payments (SEPA - Single Euro Payment Area) with the "shared" commission option. Please note that only funds actually credited to ELP SA's account will be considered. The Company is not liable for commissions or deductions charged by the Client's bank or by intermediary banks that cannot be traced back to ELP SA.


12) Costs for sending or receiving bank transfers

The Customer shall be responsible and liable for any fees charged by its bank for sending or receiving wire transfers. Under no circumstances will the Company be responsible for or reimburse any fees charged to the Client by the Client's bank. We recommend that the Client reviews the conditions and fees offered by his bank and inquires in advance about the costs of national and international wire transfers.


13) Multiple exchange requests

Each Client may have only one pending/pending exchange transaction at the same time. The Company will not accept new exchange requests from the same Client before the previous transaction has been completed or cancelled.


14) Exchange rate variation

In the time period between the exchange request made by the Client and the arrival of the payment to 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 of time, the exchange rate registers a variation greater 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 receipt of the Client's payment by the Company. The Limit shall apply in the event of both a favourable and unfavourable rate change for the Client.


15) Limits

Limit applied for each individual exchange transaction: Minimum: 100 CHF or 100 Euro.


16) Fees

The Company will charge a commission of 10 CHF, to cover the cost of manual intervention by the operator, in the following cases:

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

b) Refuses to provide one or more pieces of information requested by the Company regarding personal identification or the origin of the money;

c) Requests the payment of the exchange amount to an IBAN other than the one communicated in the exchange request,

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

e) If an amendment, management or manual cancellation of the exchange operation is required.

f) For any return to the Client of the transfer already received or to be received. This fee will be deducted from the amount received by the Client.


17) Limitation of liability for incorrect data entry

The Company is not liable for the losses or fees incurred by the Client in case of entering incorrect data in the exchange request form (Beneficiary, Address, IBAN, BIC codes, Account base currency, etc.).


18) The Client's obligations

In the unlikely event of an error in the payment sent or received, the Client shall notify the Company immediately. In the unlikely event that, by mistake, the Client receives an amount higher than the expected amount, the Client undertakes to return any excess immediately. The Client is obliged to promptly send the Company, upon request, information and documents identifying the counterparty, the beneficial owner and the lawful origin of the money used for exchange transactions. The Customer undertakes not to use the Services described herein for any illegal activity and the Company reserves the right to investigate any suspicious activity or in response to any complaints or violations reported. The Company reserves the right to report suspicious activity to the appropriate authorities (see Disclaimer).


19) Withdrawal

Please note that exchange requests and the Agreed Rate automatically expire at the end of the banking day following the date on which the exchange request was received by the Company. By sending the transfer, the Customer declares that he expressly accepts the exchange rate proposed in the transaction and specified in the confirmation e-mail. Withdrawal is no longer permitted from the moment the Company receives the transfer from the Client. If the Client's wish to withdraw is received after receipt of the transfer, the Company reserves the right to charge the Client a fee of CHF 10 or equivalent. This fee will be deducted from the amount received by the Company. The Company will execute exchange orders received from the same Client in chronological order. Withdrawal requests shall not be accepted if they are aimed at cancelling exchange orders in which the proposed rate is worse than the rate set in a subsequent order.


20) Communications

By using the service, the Client agrees that he/she may be contacted by the Company by e-mail, telephone or mail for communications concerning the exchange transaction, the verification of the Client's identity, the origin of funds and for communications concerning the activity of CambiaValute.ch and wiretransferexchange.com (see Privacy Policy).


21) Complaints

The Company constantly strives to provide the highest standards of quality and service. For suggestions and complaints, please write to us at contatto@cambiavalute.ch or by post to ELP SA, Corso San Gottardo 8 A - CH 6830 Chiasso. If the Customer is not satisfied, he/she has the right to contact the self-regulatory association of which we are a member www.polyreg.ch or to lodge a complaint using the appropriate form available at www.finma.ch.


22) Privacy

The protection of your privacy is very important to The Company. We will only use your data to enable you to use the Service. ELP SA is subject to professional secrecy as provided for in Article 16 of the Law on the exercise of the fiduciary profession (LFid - https://m3.ti.ch/CAN/RLeggi/public/index.php/raccolta-leggi/legge/num/618) of 1 December 2009. Information between your browser and the website CambiaValute.ch and wiretransferexchange.com is transmitted in encrypted form using the Secure Socket Layer (SSL) protocol.


23) Law and jurisdiction

The parties expressly declare that this contract shall be subject to Swiss law. For all matters not covered by this agreement, Swiss law shall apply. Place of performance, place of execution for all customers, including those residing abroad, and exclusive place of jurisdiction for all disputes arising from this agreement and related declarations is Lugano, Switzerland.