1. Introduction
Welcome to Ntradex Solutions Inc. (“Ntradex,” “we,” “us,” or “our”). These Terms of Use (“Terms”) govern your use of our product and services, including currency exchange, virtual accounts creation, deposits, transfers and all payment (collectively, the “Services”). By accessing or using our Services, you agree to these Terms which are pursuant under the laws of Nova Scotia. If you do not agree, you must not use our Services. This Terms of Use incorporates by reference additional documents (the “Additional Documents”), which also apply to your use of our Services, including:
Our Pricing Page, which sets out our pricing and how it works.
Our Privacy Policy, which sets out the terms on which we process any personal data we collect about you, or that you provide to us. By using our Services, you consent to such processing, and you promise that all data provided by you is accurate.
1.1. Terms of Use
When you open Ntradex Account, this Terms of Use applies to that Ntradex Account whilst the Ntradex Account is open.
Future changes. We may update this Terms & Conditions from time to time. Any changes made to this Terms of Use will take effect as soon as the Agreement is on our Website and App or on the date notified to you.
2. Our Company Information
Company Name: Ntradex Solutions Inc.
Registered Office: 1969 Upper Water St, Halifax, NS B3J 3R7
Regulatory Information: FINTRAC Reg no - M23681931
3. Jurisdictional Adjustments
3.1. Legal Compliance
Ntradex operates in multiple jurisdictions, including Nigeria, Canada, the United Kingdom, Australia, and the United States. Users must comply with all applicable laws and regulations of their respective countries when using our Services.
3.2. Currencies and Payment Methods
We support transactions in Naira (NGN), US Dollars (USD), Canadian Dollars (CAD), British Pounds (GBP), Euros (EUR), and Australian Dollars (AUD). Additional currencies may be added at our discretion.
Available Payment Methods
Local Bank Transfer for AUD, USD, GBP, EUR
Card Payments (VISA/MasterCard) for all currencies
Interac e-Transfer for CAD
3.3. Taxation
Users are responsible for reporting and paying any applicable taxes in their respective jurisdictions.
4. Services we Offer
Ntradex is a multi-currency wallet that allows you to hold, send, and receive money as well as exchange currency. Here we provide an overview of the services covered by this Terms of Use. You should carefully read the Our Services Section you intend to use.
Currency Exchange: You can convert one currency to another.
Virtual Accounts: Specific to currencies allows you to receive money into your Ntradex wallet.
Deposits: You can deposit money into any of the currency wallets using a specific deposit method available on the application.
Transfers: You can send money out of Ntradex using the various methods we have available.
5. Fees & Pricing
Our fees are outlined in our Pricing Page, which is linked at the end of these Terms. Fees are subject to change, and we will notify users accordingly. Note that:
Creating an Ntradex Account is free.
You may incur a fee when you use parts of our Services such as sending money (currency dependent), exchanging currencies, getting a card, or receiving deposits (currency dependent).
6. User Eligibility
Users must be at least 18 years of age to use Ntradex and must possess a valid means of identification specific to their country.
Our Services are for personal use only, until otherwise stated.
You may only open one Ntradex Account using your means of identification.
All activities under an Ntradex Account shall be considered activities conducted by you. You agree to only use the Services to transact on your own account and not on behalf of any other person or entity. You must not allow others to access or use the Services or your Ntradex Account on your behalf.
7. Using our Product
To start using our Services, you must create a profile and provide certain information as prompted by us.
All information you provide to us must be complete, accurate and truthful always. You must prompt us to update this information whenever it changes by providing additional supporting documents. We cannot be responsible for any loss arising out of your failure to do so.
We are required by law to conduct certain security and customer due diligence checks on you to provide any Services to you and allow you to have and maintain an Ntradex Account.
Ntradex reserves the right to close, suspend, or limit access to your Ntradex Account or the Services in the event we are unable to obtain or verify any information related to you or your transaction.
Ntradex also reserves the right to restrict your access to your Ntradex Account when in strict violation of our terms and conditions, policies, and/or user agreements.
8. Security and Compliance
8.1. Security Measures
We have implemented two-step authentication and password requirements to protect user accounts. Users must take all reasonable measures to keep their credentials secure.
- We recommend you use the Services to send money to friends, family and trusted and verified third-parties that are known to you or that you have already done business with. You should be cautious when sending money to the recipients you don’t know and have never dealt with before.
- When accessing your Ntradex profile, you should at the minimum do the following:
Change your password regularly and ensure that it is not reused for other online accounts.
Never share your login details with anyone else. This includes the password or other security credentials. If you suspect that your account may be accessed by someone else, contact Customer Support. We will never ask you for your password.
Always use strong passwords, for example ones that use a mixture of letters, numbers, and symbols.
Set up 2-step authentication, if applicable.
- Keep your email account secure. You may reset your password using your email address. Let Customer Support know immediately if your email account becomes compromised.
- Regularly update the App on your device to the latest version available.
- Maintain your device’s operating systems with regular security updates provided by the operating system provider.
- Install and maintain the latest anti-virus software on your device, where applicable.
- It is essential to ensure every time you are entering your Ntradex login credentials that it is only ever on our official App (downloaded from the iOS or Android store). Emails and SMS messages sent by fraudsters may lead to fake login portals that could phish your login information and 2-step authentication details. Similarly, criminals can place malicious adverts on search engines that lead to fake websites of trusted businesses.
8.2. Fraud and Scams
Ntradex is committed to preventing fraud, including Money Laundering, scams or other fraud cases. Users should verify recipients before making payments and report any suspicious activity immediately. If you suspect you have become a victim of a scam, contact our Customer Support team immediately.
9. Our Services Section
9.1. Currency Conversion
Our Service include the ability to exchange currencies:
In your Ntradex Wallet, when you hold a balance in one currency and then exchange it to a different currency.
Exchange rate, When we refer to an exchange rate, it means the exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR, USD to AUD) that is offered by Ntradex, which is typically provided by a reference rate provider and usually the mid-market exchange rate. We may change our reference rate provider from time to time without notice to you.
9.2. Your Ntradex Account
- Information about your Ntradex Account:
Your Ntradex Account wallet allows you to hold, send, and receive funds and exchange currency.
The funds held on your Ntradex Account do not expire.
The funds held on your Ntradex Account may not earn any interest or return.
You may hold your funds in any currencies that we support at any time.
You may withdraw funds from your Ntradex Account at any time subject to certain conditions, please see the section ‘withdrawing funds from your Ntradex Account’ for more details.
The funds held on your Ntradex Account belong to you as the registered Ntradex Account holder.
We may place certain limits on your Ntradex Account depending on your country of residence, KYC (Verification) status or other legal considerations. You can contact our Customer Support team for more information about these limits.
We may suspend and/or terminate your Ntradex account, if after investigations it is discovered that you indulged in fraudulent behaviors and in violation of our terms. You can contact our Customer Support team for more information if your account is suspended and/or terminated.
- Ntradex is not a bank, and your Ntradex Account is not a bank account. The funds held with Ntradex, including balances in your Ntradex Wallets, are not insured by any deposit protection scheme.
- When Ntradex provides you with Account Details and/or Virtual Accounts (as described further below), these Account Details and Virtual Accounts are a means to receive funds from third parties into a bank account held by Ntradex and its affiliates. Ntradex will credit your Ntradex Account when you use these Account Details prescribed to you and under your name so long as it is sent to you via your kyc’d name as recorded on Ntradex, they are not a bank account number for a bank account held/owned by you. Third-Party deposits for accounts belonging to Ntradex are strictly prohibited, See ‘Funding your Account via Third-Parties Section’ below for more details.
- To add funds to your Ntradex Account, you need to log in to your Ntradex Account and follow the “Deposit” steps for each currency. You may be presented with one or more methods of adding funds to your Ntradex Account.
- Receiving money to your Ntradex Account from other sources. In certain currencies, we may provide you with local account details that you can use to send money directly to your Ntradex Account (“Account Details”). The Account Details that we provide to you are only a means to receive funds from third-party accounts or accounts under your own name, so that Ntradex can credit your Ntradex Account that is held at the Ntradex entity described above (regardless of currency).
- We may carry out verification checks when you request Account Details in addition to the checks required to obtain a Ntradex Account. From time to time your Account Details may change. When this occurs, we will notify you.
- Any money you receive into your Ntradex Account will be converted into electronic money and recorded in your transaction history. You should check and confirm the receipt of incoming funds in your Ntradex Account regularly and let us know if there are any irregularities or discrepancies.
- We are not responsible for the funds you have added until we have received them. For clarity, when you add funds to your Ntradex Account, we are the recipient of those funds. This means the bank or payment service provider you used to send the funds to us is the one responsible for making sure we receive them so that we can credit them to your Ntradex Account.
- We will credit your Ntradex Account once we have received your funds.
9.3. Funding your Ntradex Account via Debit/Credit Card Schemes
You may fund your account via a Debit or Credit Card after providing your card details, such as card number and cardholder name.
When you choose to fund your account via Cards, you confirm that your card details are correct, that you are authorized to access and transmit funds from your card account, that your card account is in good standing with the account-holding financial institution, and that you have the authority to initiate a debit or credit card payment in the amount at issue to or from your card account.
If it is discovered that you added and/or used a Card that isn't yours to initiate transactions, leading to a dispute and/or chargeback, your account will be suspended and/or terminated with all funds refunded to the Cardholder.
9.4. Funding your Ntradex Account via Interac
You may fund your account via Interac by linking your Interac email to your ntradex account.
When you choose to fund your account via Interac, you confirm that you are authorized to access and transmit funds from your bank account, and that you have the authority to initiate an Interac e-transfer or approve an Interac request payment in the amount at issue to or from your bank account.
The bank that you choose to complete your Interac e-transfer may have restrictions on the amount you may send in each Interac e-transfer and the frequency of Interac e-transfers you may have over a period of time.
9.3. Funding your Ntradex Account via Wire or Electronic Funds Transfer (EFT)
You may fund your account via a Wire or EFT, in the form of SWIFT, ACH, etc, so long as the sender of the transaction is you.
When you choose to fund your account via Wire or EFT, you confirm that our details are correclty captured, that you are authorized to access and transmit funds from your bank account, that your bank account is in good standing with the account-holding financial institution, and that you have the authority to initiate a Wire or EFT payment in the amount at issue to or from your bank account.
If you choose to fund your account using an EFT from your bank account, or the domestic wire transfer method, then your transaction order will remain processing until we receive your funds to our specified account. Such payments must be made to our specified account via an electronic funds transfer or domestic wire transfer.
In cases where for any reason the transaction is cancelled or refused, then we will promptly return the deposit to your bank account from which the transaction originated.
Ntradex reserves the right to restrict any account in violation of its funding policies.
9.4. Funding your Ntradex Account via Third-Parties
You may fund your account via a Third-party under situations where Ntradex has provided you with ‘Account Details’ under your kyc'd name as prescribed in the sections above.
You may not fund your account via a Third-party when the provided ‘Account Details’ belong exclusively to Ntradex under the names; ‘Ntradex Solutions Inc.’, ‘Ntradex Solutions LTD’, ‘Ntradex Inc.’, or ‘Ntradex’.
Funding from Third-party accounts to Ntradex under a name different from the name that initiated the transaction on the Ntradex platform will be completely forfeited by that particular user with no recourse to Ntradex in all jurisdictions where we operate.
Ntradex reserves the right to suspend and/or terminate any account in continuous violation of its funding policies.
9.5. Sending out Funds from your Ntradex Account
You may initiate a transfer of all or some of the balance in your Ntradex Account. We may charge you a fee for each withdrawal request (currency dependent), we will let you know the exact amount when you initiate a transfer. You can also find out more information about the fees we charge on the Pricing page.
You must provide correct information to us. When initiating a transfer to a beneficiary, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient because of incorrect information provided by you.
We may delay or decline a withdrawal in certain situations, including if you need complete verification level, or you have exceeded your transfer limits for the period.
9.6. Adding a Beneficiary to your Ntradex Account
To add a beneficiary (currency dependent), you will need to provide certain information to us, including, but not limited to, the full name of your recipient, your recipient’s bank account details (e.g. sort code and account number for UK accounts or the International Bank Account Number (IBAN) for payments made to non-UK accounts) or their x:tag username, or contact details (e.g. Address, Postal Code, City, etc.) and the amount and currency that you are sending.
10. Intellectual Property
10.1. Trademarks and Branding
All trademarks, logos, and branding related to Ntradex are our exclusive property, owned and controlled by Ntradex Solutions Inc. Unauthorized use is prohibited.
10.2. Third-Party Materials
Ntradex may integrate with third-party services. Details on these integrations will be provided as applicable.
11. Dispute Resolution
Disputes will be resolved in accordance with the laws of the user’s jurisdiction:
Nigeria: Disputes will be governed by Nigerian law and resolved in Nigerian courts.
Canada: Disputes will be governed by Canadian law and resolved in Canadian courts.
United Kingdom: Disputes will be governed by UK law and resolved in the courts of England and Wales.
United States: Disputes will be governed by US law and resolved in US courts.
12. Customer Complaint Procedure
Users may submit complaints through Customer Support. We aim to resolve issues promptly, following industry best practices:
Initial Complaint: Submit details via the support email or our live chat on the app.
Acknowledgment: We will acknowledge receipt within 48 hours.
Investigation: Complaints will be reviewed, and users may be required to provide additional information.
Resolution: We will provide a resolution within 14 business days.
13. Data Privacy
We handle user data in accordance with our Privacy Policy, which is linked separately.
14. Force Majeure
Ntradex is not liable for service disruptions caused by unforeseen events such as natural disasters, political instability, or regulatory changes.
15. Account Termination
15.1. Deleting your Account
You may stop using Ntradex and/or close your Ntradex Account at any time. This Agreement continues until your Ntradex Account is terminated. You may close your Ntradex Account and/or end your ability to use our Services at any time by following the steps provided by us on our App.
If you want to close your Ntradex Account, you should withdraw your funds within a reasonable time. You must withdraw your funds before your Ntradex Account closes. At the time of closure, if you still have funds in your Ntradex Account, you will be unable to terminate your account.
You cannot use the App if this Agreement ends. On termination for any reason all rights granted to you in connection with the App shall cease, you must immediately delete or remove the App from your devices.
15.2. Termination and Suspension
Ntradex, in its sole discretion, reserves the right to suspend or terminate this terms and access to or use of our Websites, apps, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf or some or all of the Services for any reason and at any time upon notice to you and, upon termination of this terms agreeement, the payment to you of any unrestricted funds held in your Ntradex balance.
Reasons we may suspened and/or terminate your Ntradex account include, but are not limited to the following:
Breaching of any provision of this terms agreement or documents referred to in this terms agreement.
We are requested or directed to do so by any competent court of law, government authority or agency, or law enforcement agency.
We have reason to believe after investigations that you are in violation or breach of any applicable law or regulation.
We have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal or illegal activity.
If we suspend and/or terminate your use of Ntradex for any reason other than Debit/Credit Card theft, we’ll provide you with notice of our actions and make any unrestricted prepaid money held in your Ntradex Account available for withdrawal.
If we suspend and/or terminate your use of Ntradex for reasons relating to Debit/Credit Card theft, Chargebacks, Disputes, etc, then all funds held in your balance from such transactions will be refunded back to the Cardholder(s) on or within a period of 30 days.
We may also suspend your Ntradex Account if it has been compromised or for other security reasons or has been used or is being used without your authorization or fraudulently.
In the event of loss, claims, costs or expenses (including reasonable legal fees) arising out of your breach of this terms agreement, any applicable law or regulation and/or your, or any authorised third parties’, use of our Services, you agree to defend, compensate us and our affiliates and hold us harmless. This provision will continue after our relationship ends.
16. Acceptable Use Policy
Users must not engage in restricted activities, including but not limited to:
Fraudulent or deceptive practices.
Money laundering or terrorist financing.
Violating any applicable laws.
Engaging in unauthorized financial services.
Using the platform for unlawful transactions.
17. Liability and Disclaimers
Ntradex does not guarantee uninterrupted access to its services and is not liable for any delays or failures.
We are not responsible for losses due to incorrect information provided by users.
We are not liable for third-party service failures or disruptions beyond our control.
18. Modification to the Terms and Conditions
Ntradex reserves the right to modify these Terms at any time. Users will be notified of changes via email or an in-app notification. Continued use of the Services constitutes acceptance of the revised Terms.
By using Ntradex, you agree to these Terms. If you have any questions, contact us via our support email by following this link.
Last Modified: February 27th, 2025.
