- Payment methods: Clients can deposit and withdraw using only the payment methods available in the ‘Deposit and Withdrawal’ sections of their Backoffice. As a general rule of thumb, the client should use the same payment method used to deposit for withdrawals. In case this is not possible, HilltopSwipe Limited will allow the client to use another payment method, as long as the client provides proof that the account registered with this new payment method is in their name. In such cases, the deposited and withdrawn currency should match as well.
In case a payment provider used by HilltopSwipe Limited stops operating for some time, HilltopSwipe Limited has the right to postpone the withdrawal until the services are restored. When the services of a payment provider have been permanently discontinued, HilltopSwipe Limited shall offer alternative options to comply with the abovementioned requirements (preferably the same currency and account holder).
Payment account: As a general rule of thumb, the client should use the same payment account he used to deposit for withdrawals. In case this is not possible, HilltopSwipe Limited may allow the client to use another payment account, as long as the client provides proof that the new payment account is owned by them.
Currency: the currencies to deposit or withdraw are only those available in the ‘Deposits and Withdrawals’ sections and supported by each payment provider.
Settlements in unsupported currencies may be made at the sole discretion of HilltopSwipe Limited on a case-by-case basis.
Except where justified by special circumstances, clients can’t withdraw in a currency different than the one they used to deposit.
The client understands that cases where a deposit or withdrawal is made in currencies other than the currencies available in the ‘Deposits and Withdrawals’ sections of the company´s website or other than the currency of the account to be (re)funded, HilltopSwipe Limited may need to undertake the conversion of currencies. Under such circumstances, HilltopSwipe Limited shall return or deposit the funds net of any conversion fees or other charges incurred by HilltopSwipe Limited.
When processing a withdrawal request, HilltopSwipe Limited shall use its internal currency rates adopted from the currency provider serving HilltopSwipe Limited on the date of the withdrawal.
Third-party payments: Third-party payments are strictly forbidden. This is why HilltopSwipe Limited has the right to cancel the client’s deposit or withdrawal if there is an attempt to use a third-party account. In the event of a deposit coming from a third party account, funds will be transferred back to the same account details they came from. If this occurs, the client shall be charged all costs for the transfer.
The client bears full responsibility for the adequacy of the details set out in their deposit or withdrawal application.
HilltopSwipe Limited is entitled to request all additional details, clarifications or documents necessary to process the transfers correctly or to comply with the applicable regulations, KYC and AML procedures. If, at any time, HilltopSwipe Limited is not satisfied with the documentation provided by the client in relation to a withdrawal or deposit, HilltopSwipe Limited reserves the right to reverse to the remitter any part of the funds net of any transfer fees or other charges incurred by HilltopSwipe Limited or to cancel or delay the processing of the payment until the necessary information is provided.
Processing timeframe: The client agrees that the processing of refund requests can take up to 24 hours on business days (weekends closed) since the request is confirmed unless additional details, clarifications or documents are necessary. In such cases, the 24-hour time limit begins with the receipt of the requested information. The client accepts that the processing of a refund request under the current policy means that HilltopSwipe Limited will submit the refund request to its payment provider. HilltopSwipe Limited bears no responsibility for how long it can take for the respective payment provider or its partners to execute the request.
Fees: HilltopSwipe Limited has the right to charge fees for deposits and withdrawals whose amount is calculated based on costs paid by the company when fulfilling the client’s withdrawal request. Information on the fees charged can be found on the company’s website and in the client’s Backoffice. In case of divergence, the information posted in the client’s Backoffice shall prevail. HilltopSwipe Limited has the right, but not the obligation, to charge the client with an additional fee (if applied) when the client uses a different payment system to withdraw funds.
When HilltopSwipe Limited services have been properly provided, the client agrees not to request or demand a refund or chargeback from their bank or credit card provider at any time during or after the use of HilltopSwipe Limited services. Any attempt to do so may be considered a breach of the Client Agreement, and the client may be held liable. If HilltopSwipe Limited, however, receives a chargeback for any transaction, we reserve the right to hold the Client’s current balance with us and send the funds back after all charges related to the chargeback have been deducted.
If there is enough reason to suspect that the origins of the client’s funds and their entire activities are contrary to our Anti-Money Laundering Manual (AML) or any other internal policies or in case of any fraudulent/illegal act or activity with direct or indirect illegal intention, HilltopSwipe Limited reserves the unilateral right to deny fund deposits or withdrawals to and from client accounts, freeze assets, suspend any trading activity on accounts with no prior notification, cancel the demand for deposits or withdrawals, hold the funds or refund received funds at its own discretion. Clients shall be notified that HilltopSwipe Limited is obliged to inform the respective government institutions concerning each AML policy conflict and disclose the client’s data. In such cases, the client must compensate the direct and indirect losses and damages which the company or third parties have suffered as a result of client’s actions and HilltopSwipe Limited is enabled to deduct the respective amounts from the client’s funds.
In cases of abuse of the trading system or any activities contrary to the usual purpose of the service or without good faith, HilltopSwipe Limited has the right to
- Immediately and without prior notification close the client’s positions
- Delay the client’s withdrawals until the damage is calculated
- Block the client’s profile
- And deduct the profit gained as a result of the fraudulent trading.
If a Client’s trading account with HilltopSwipe is inactive (which means an account wherein no trades have been carried out) for one (1) year and the balance of this trading account is less than USD 5 (or equivalent in another currency), HilltopSwipe is entitled, at its own discretion, to close the trading account and terminate the Client Agreement with the Client upon expiration of one year’s inactivity on the trading account.
If HilltopSwipe decides to close the trading account and terminate the Client Agreement under the circumstances presented under p. 12, HilltopSwipe will specify the termination date (by email) one month before the termination. In this case, HilltopSwipe may transfer the balance from the account to any other open account with at least one common owner or account appointed by the Client. Funds not requested by the Client to be returned to an exact payment system of the Client will be considered abandoned and will become the property of HilltopSwipe Limited.
If a Client’s trading account with HilltopSwipe is inactive (which means an account wherein no trades have been carried out) for five (5) years and the balance of this trading account is more than USD 5 (or equivalent in another currency), HilltopSwipe is entitled, at its own discretion, to close the trading account and terminate the Client agreement with the Client upon expiration of five years’ inactivity on the trading account.
If HilltopSwipe decides to close the trading account and terminate the Client Agreement under the circumstances presented under p. 14, HilltopSwipe will specify the termination date (by email) one month before the termination. In this case, HilltopSwipe may transfer the balance from the account to any other open account with at least one common owner or account appointed by the Client. Funds not requested by the Client to be returned to an exact payment system of the Client will be considered abandoned and will become the property of HilltopSwipe Limited.
If HilltopSwipe establishes that a Client is a citizen or resident of a country not on the list of eligible countries in accordance with our money laundering and other internal rules, HilltopSwipe is entitled, at its own discretion, to close the trading account and terminate the relationship with the Client.
If HilltopSwipe decides to close a trading account and terminate the Client Agreement under the circumstances presented under p. 16, HilltopSwipe will specify the termination date (by email) one week before the termination. In this case, HilltopSwipe may transfer the balance from the account to any other open account with at least one common owner or account appointed by the Client. Funds not requested by the Client to be returned to an exact payment system of the Client will be considered abandoned and will become the property of HilltopSwipe Limited.
AML rules
HilltopSwipe Limited recognises the important role of the financial sector for the forestalling and effective prevention of money laundering and terrorist financing activities.
Money laundering is defined very widely and includes all forms of handling or possessing criminal property, including possessing the proceeds of one’s crime and facilitating any handling or possession of criminal property. Criminal property may take any form, including money, securities, tangible and intangible property.
HilltopSwipe Limited is bound by the Money Laundering and Terrorism (Prevention) Act 2008 of Belize (the Law), which places strong administrative requirements on all financial institutions.
The law obliges the company to introduce and comply with The Anti-Money Laundering and prevention of terrorism financing manual (the AML Manual), which, together with all related internal policies and rules is the main pillar of the internal control systems established to monitor compliance with the procedures introduced by HilltopSwipe Limited for the prevention and detection of money laundering.
The compliance function is responsible for confirming adherence to various anti-money laundering procedures through specifically designed audits and other functional audits.
Our AML Manual binds the members of the Board of Directors, Executives, Heads and Managers of the Company divisions, staff members, and any other person involved in the operations of the services offered. The procedures and recommendation contained in the AML Manual and the law must be followed strictly by the Company’s personnel. Employees are aware of the seriousness of money laundering, and terrorist financing activities, their statutory obligations, and are encouraged to co-operate and report suspicious transactions promptly.
Our AML Manual and the law require HilltopSwipe Limited to establish and maintain specific policies and procedures to protect against its clients‘, its business and the financial system, being used for money laundering. These procedures are designed to achieve two main purposes:
- To facilitate the recognition and reporting of suspicious transactions;
- To ensure through the strict implementation of the ‘know-your-customer’ principle and the maintenance of adequate record-keeping procedures, should a customer come under investigation, that the financial institution can provide its part of the audit trail.
The AML Manual and all internal procedures provide the guidelines that should be followed throughout the Company to assist in the detection and prevention of money laundering and terrorist financing activities in accordance with the law.
All company employees should execute their duties as per the guidelines set out in the AML Manual and the relevant company internal regulations.
The company’s AML regulations are subject to an ongoing review and update by the Compliance Department to ensure full compliance with current legislation, regulations and the International Financial Services Commission directives.
