Terms & Conditions

Effective Date: June 01, 2017

This Agreement is your contract with SunCash and applies to your use of the SunCash money services (the “Services”).

This English version of this Agreement is the applicable version for all languages. Other language version provided by us are solely to give our users guidance.

By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement. You agree that any use by you of the Services shall constitute your acceptance of the Agreements and we recommend that you store a copy of the Agreements (and all policies) for your records.

Please read this Agreement carefully and make sure that you understand it fully before using the Services. Please note that if you do not accept this Agreement, you will not be able to use the Services.

  1. Definitions and meanings:
    1. "SunCash ","we", "us" or "our" means Sun Island Transfers Limited trading as “SunCash”, with registered head office at #4 Patton Street, Nassau, The Bahamas and includes its successors and any person to whom it has assigned it rights under this Agreement.
    2. "SunCash website(s)" means any URL, such as www.mySunCash.com, owned and operated by SunCash that we use to provide the Services to you.
    3. "Business Days” means every official working day of the week (other than a Saturday or Sunday) on which Banks in the Bahamas are open for business.
    4. "SunCash Account" shall mean the e-money Account opened and managed through the SunCash website or mobile app.
    5. "Terms and Conditions” means this agreement including all subsequent amendments.
    6. "Fees" means those amounts stated in section 13 of these Terms and Conditions.
    7. "Customer Service” means our customer service, which can be reached by email through the email address contact@mySunCash.com.com or by calling 1242-300-0000.
    8. “Card” means SunCash single debit Card and virtual prepaid Card.
    9. “Privacy Policy” is the SunCash's policy regulating the processing of personal data. This is available on the Website and may be amended. from time to time.
    10. “Applicable account” means your SunCash Account equivalent to the currency of the transaction.
  2. SunCash overview
    1. SunCash is a Payment Service Provider, its services are operated as a brand of Sun Island Transfers Limited, registered in the Bahamas with registered office at #4 Patton Street, Palmdale, Nassau, The Bahamas. SunCash is under the prudential supervision of the Central Bank of the Bahamas and the Securities Commission. SunCash main trading address is #4 Patton Street, Palmdale, Nassau, The Bahamas.
  3. About these Terms and Conditions
    1. These Terms and Conditions regulate the opening, use and closure of SunCash Accounts and all the payment services offered by SunCash. For additional services provided, you will be asked to accept additional terms and conditions. These will be notified to you as soon as a service request has been made. A copy of these Terms and Conditions is always available on our website.
    2. SunCash does not have control of, or liability for, the products or services that are paid for through the SunCash Services. SunCash does not at any time enter into the possession of funds transferred through the SunCash Service.
  4. SunCash My Account
    1. SunCash Account can be defined as an e-money Account through which the Account holder can send and receive electronic money. A SunCash Account cannot be considered as a Bank Account.
    2. SunCash Account is opened in a currency, BSD. SunCash Account holder cannot change the opening currency of their Account.
    3. Subject to section 7, the electronic money held on your SunCash Account does not expire but it will not earn any interest.
    4. SunCash Account have limits which have been set up in accordance with the type of the Account opened and the verification process used.
    5. Only the SunCash Account holder has rights related to the funds held in the SunCash Account. Funds held in the Account belongs to the registered Account holder and the Account cannot be transferred or assigned to a third party.
    6. SunCash offers two Account types: Restricted and Full. These two Accounts differ for limits and services offered. If you have been assigned with a Restricted Account, you can request an upgrade to Full by contacting our Customer Service, upgrading from the Mobile app or website.
  5. SunCash Account opening
    1. A SunCash Account can be opened through SunCash website or from the mobile app. The signup process requires you to provide necessary details and accept these Terms and Conditions. In case you order additional services from SunCash, you may be requested to accept additional terms and conditions, related to that particular service or update/upgrade your account.
    2. All information provided during the signup process or during the Account management must be accurate and truth.
    3. You may only add payment instruments (such as bank accounts, credit cards or debit cards) to your SunCash Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a fraudulent act.
    4. SunCash allows you to open one Account. Multiple Accounts can be opened only if authorized by us.
  6. SunCash Account maintenance and safety
    1. You must ensure that all information provided on your SunCash Account is accurate and up to date. We may contact you by e-mail or in other ways regarding your SunCash Account. It is your responsibility to read messages related to your SunCash Account.
    2. You have access to all transactions made in your SunCash Account in My transaction section. Along with transactions processed, all fees charged are also shown. You should regularly check your SunCash Account balance and transaction statement and report to our Customer Service any irregularities or clarification you may require.
    3. In case you claim a refund for an unauthorized transaction or incorrectly executed transfer on you SunCash Account, you must notify us as soon as you become aware of the situation and not later than 7 days from the date of the debit of the transaction.
    4. You are responsible to take any reasonable steps in order to keep your SunCash Account login details safe and never disclosure them to anyone. We will never ask you to provide us with login details. Consider changing your password regularly in order to reduce the risk of a security breach.
    5. In case you suspect that your login details have been lost or stolen, you are requested to change your password and contact our Customer Service as soon as you realize the situation. We reserve the right to suspend or limit some functionalities of your SunCash Account in case we suspect that any security features to your SunCash Account has been compromised. If we do so, we will inform you about this restriction or suspension as soon as possible. It is advisable to change your password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to your SunCash Account. We also advise you not to choose a password that is easily guessed from information someone might know or gather about you or a password that has a meaning. You must never allow anyone to access your SunCash Account or watch you accessing your SunCash Account.
    6. You should never store in your computer your login details and should keep your email address registered in you SunCash Account always updated. Your email address is used to re-set your password and to communicate with you
    7. We may suspend your SunCash Account or otherwise restrict its functionality on reasonable grounds relating to the security of the SunCash Account or any of its security features or if we reasonably suspect that an unauthorized or fraudulent use of your SunCash Account has occurred or that any of its security features have been compromised
  7. SunCash Account closure
    1. You have the right to request to close your SunCash Account anytime. In order to do so you must only contact our Customer Service by phone at 242-300-0000. Your SunCash Account can be closed only by you and only over the phone. If you call us with such a request, SunCash will take certain steps to verify your identity and you agree to cooperate in such verification. Once SunCash has verified your identity and confirmed you wish to close your SunCash Account. We reserve the right to carry out any necessary money laundering check before authorizing any withdrawal of funds.
    2. If your SunCash Account shows a positive balance at the time of its closure, we will arrange funds to be transferred via store cash out or bank transfer. If bank transfer, we will only process to the bank Account details specified at the time of the closing request. The destination bank Account holder must be as per your SunCash Account holder name. We will not process any closure transaction to a bank Account differently named.
    3. If your SunCash Account holds a balance at the time of its closure, we will ask you to withdraw your funds within a reasonable period of time, during which your SunCash Account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period you will not be able to access your SunCash Account but you may withdraw any remaining funds by contacting Customer Service and requesting that the funds are sent to you in a manner that is reasonably acceptable for us. You may do so for a period of one year from the date of closure of your SunCash Account but we suggest that you withdraw your remaining funds as soon as possible as they will not earn any interest while being deposited in your SunCash Account. Your obligations with regards to keeping your SunCash Account safe as set forth in section 6 shall continue to apply.
    4. We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorizing any withdrawal of your funds, including in relation to returning any funds to you after you have closed your SunCash Account.
    5. You may not close your SunCash Account to evade an investigation. If you attempt to close your SunCash Account while the Issuing Bank is conducting an investigation, it may freeze the account to protect all parties to the SunCash Services, its affiliates, or a third party against any liability. You will remain liable for any obligations related to your SunCash Account even after the SunCash Account is closed.
  8. SunCash Account loading
    1. In order to load funds into your SunCash Account you are require to login and following the relevant instructions. Loading methods are different and are provided by third party institutions therefore we shall not be responsible for the load payment until the loaded funds are received by us.
    2. In the event you choose as loading method, a payment instrument that may be subject to chargeback rights, like credit or debit card, you declare that you will not exercise such right other than for unauthorized use of the payment instruments of for a breach by us of these Terms and Conditions. We reserve the right to charge you for fees and expenses we incur in connection with chargeback and actions taken to change the same. In addition, we reserve the right to charge you a fee as per 25.00 BSD.
    3. In case a reversal or a chargeback of uploaded funds results in a negative balance in your SunCash Account, you will be required to pay the negative balance and upload funds into your SunCash Account in order to adjust the balance as positive or zero. Failure to do so is a breach of these Terms and Conditions. In addition, we reserve the right to send you reminders and take debt collection measures along with the right to charge you any expenses we incur in connection with any debt collection.
    4. As soon as funds loaded have been received by us, they will be credited to your SunCash Account. Loaded funds by credit and debit will be immediately shown in your SunCash Account but are subject to reversal in case the actual funds do not reach us in a reasonable time. In this case we will deduct the reversed transaction from your SunCash Account balance and, if your balance is insufficient, we will require a repayment from you.
    5. All loading methods require that the SunCash Account holder name is the same as per the payment instrument used to load your Account. Violation of this requirement is seriously taken by SunCash. We reserve the right to return funds loaded from a payment instrument under a different name than SunCash Account holder and in this case, we may charge you an administration fees as per 25.00 BSD per loading.
    6. Loading limits are set depending on your Account verification status. Please consider the section fees and limits of these Terms and Conditions for more details.
    7. Loadings are subject to loading fees. Currency conversion fee may be applied if the currency used for loading funds and your SunCash Account currency differ. Please refer to the fee section of this Terms and Conditions for more details.
  9. Send funds from you SunCash Account
    1. You are asked to provide details of the recipient in order to send funds. You must take great care to properly type the exact details of who you wish to send money to. All information you provide may be disregarded and we shall not be liable for any error you make when entering the recipient’s details.
    2. If you wish to send funds to another SunCash customer, the funds will be instantly credited to the recipient SunCash Account. Once funds are credited to the recipient SunCash Account, the transaction become irreversible.
    3. If you wish to send funds to a non- SunCash customer, you will be asked to provide a mobile number and/or an email address, along with additional information, of the intended recipient. We will invite the non- SunCash Account Holder to become a SunCash Account Holder in order to receive your payment or to receive money in their bank account. If the recipient does not claim the payment by 14 days from your transaction request, the transaction will be cancelled and the funds will become available on your SunCash Account. You will not be able to cancel a transaction once the request has been processed.
    4. SunCash uses third party intermediaries to complete money transfers to a remitter that does not hold a SunCash Account. When this service is provided, funds will be credited to the SunCash Account of the intermediary and they should be considered responsible for ensuring that the transmission of the funds to the remitter is processed. SunCash therefore will obliges under these Terms and Conditions for the transfer of the funds to the SunCash Account of the intermediary and not for the transfer processed by the intermediary.
    5. Sending payments is subject to fees and limits, depending on your verification status. Please consider the section fees and limits of these Terms and Conditions for more details.
  10. SunCash Account receiving funds
    1. When funds are received in your SunCash Account, we will send you a notification e-mail or SMS and display the payment as a “Receive Money” transaction. The amount will be indicated in the “My Transaction” section of your Account. Constantly check your incoming transactions and notify Customer Service in case of any doubt.
    2. SunCash reserves the right to reverse a payment if the payer, the payment service provider or the payer’s bank reversed or charged back a payment which has been fund to your SunCash Account.
    3. If a non SunCash Account holder receives an email or SMS from us, as notification that funds have been sent from a SunCash customer, funds will not be available for the recipient until all our instructions as per notification email or SMS have been followed and the payment can be therefore considered as claimed. Until that moment, the funds remain on the sender and we will not have any contractual relationship with the recipient.
    4. SunCash allows you to request money from non SunCash clients using the “Request money” option. This service cannot be used as an enforcement tool or as debt collector.
    5. The requesting money service is subject to limits, please consider the section 13 fees and limits of these Terms and Conditions for more details.
  11. SunCash Account withdrawing funds
    1. Withdraws are subject to fee and limits, depending on your verification status. Please consider the section 13 fees and limits of these Terms and Conditions for more details. We invite you to consider that your withdrawal and spending limits are in line with your withdrawal and spending needs and requirements before processing any transactions. SunCash will not allow you to exceed these limits.
    2. In case your withdrawal request exceeded your Account limits, we will decline your request.
    3. If you require to withdraw funds using a bank Account, we will process this request only if you are the bank Account holder. In case we require to investigate a withdrawal payment requested or already processed, we may charge you an administration fee.
    4. It is your responsibility to ensure that the payment details inserted to withdraw funds are correct and complete. SunCash will not liable for funds being sent to the wrong recipients if the details used for the transfers where wrongly provided by you. You may request us to assist you in reclaim funds, if so, we will charge you an administration fee and we will not guarantee that the reclaim will be successful.
  12. SunCash restricted transactions
    1. You will not be able to send funds to certain restricted countries. A list of such countries will be maintained with the most current Terms and Conditions and will be available from the SunCash website. In addition to the above listed countries SunCash reserves the right to request additional information and supporting documentation related to a transfer request. In addition, SunCash may suspend and cancel a transaction in case we reasonably believe to do so for the prevention of financial crime. We reserve the right to suspend or terminate your SunCash Account at any time if we reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.
    2. Your SunCash Account cannot be used for any illegal purposes. It is strictly forbidden to send or receive payments as consideration for the sale or supply of services or products what would be illegal in the Commonwealth of the Bahamas, the United States, Canada or any other country for whom SunCash provides money transfer services. We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories either to these Terms and Conditions or an acceptable use policy published on the Website. SunCash is committed to report any suspicious activity to the relevant law enforcement agency.
    3. If you attempt or conduct any transaction in violation of the prohibited transactions as per this section of the Terms and Condition, we will reserve the right to: suspend and/or close your SunCash Account, reverse any relative transactions and/or report the transaction to the relevant law enforcement agency and/or charge you an administration fee if we apply any of the above described actions.
    4. Recipients of your transfers must be in compliance with any applicable laws and regulation. It is your responsibility to ensure this compliance. In case of doubt, the payment request should not be processed.
  13. SunCash fees
    1. Full list of SunCash fees as per below table:
      Action Type Cost
      Account opening FREE
      Loading your account FREE
      Card Issued in Bahamas [CONTENT]
      Visa / MasterCard
      by Debit Card 1BSD
      by Credit Card 2%+ 0.5 BSD
      Merchant Load: FREE
      Gift or Pin Code: FREE
      Payments of funds:
      by local payment FREE
      Receiving funds:
      account to account FREE
      Transferring (Send) funds:
      $1 - $199 5% of principal (VAT Inclusive)
      $200 - $2,000 4% of principal (VAT Inclusive)
      Above $2,000 3% of principal (VAT Inclusive)
      Withdrawing funds:
      by bank transfer: 1 BSD
      by SunCash Merchant: 1BSD
      SunCash Card usage:
      SunCash debit card See Specific T&C
      SunCash prepaid virtual card See Specific T&C
      Remittance Refund 25 BSD
      Administration Fee 10 BSD
      Redemption Fee 10 BSD
    2. Fees are subject to change as per section 17 of these Terms and Conditions. Under circumstances indicated in these Terms and Conditions, we may charge additional fees – see sections 8.2, 8.5, 11.4, 12.3 of this Agreement
    3. Fees will be deducted from your SunCash Account. If a transaction fee applies, it will be debited to your SunCash Account as soon as the transaction is executed. In case no sufficient funds are available, the transaction will be refused.
    4. In case the deduction of fees results in a negative balance in your SunCash Account, you will be required to pay the negative balance and upload funds into your SunCash Account in order to adjust the balance as positive or zero. Failure to do so is a breach of these Terms and Conditions. In addition, we reserve the right to send you reminders and take debt collection measures along with the right to charge you any expenses we incur in connection with any debt collection.
    5. When sending funds to an Account nominated in a different currency than your SunCash Account currency, an exchange rate will be applied. You will be informed of the exchange rate applied at the time of the transfer request and before the transaction authorization
    6. For every currency conversion, we will apply our then current wholesale exchange rates which are available at the time of the transfer request and before the transaction authorization.
    7. Exchange rate not dependent on us when funds are received or sent from/to an Account with different currency, will not be managed by us and will not be liable for rates charged.
    8. Your Account limits are set as per type of Account: Restricted or Full. Full list of SunCash Account limits as per below table:
      Account Type Restricted Full
      Maximum Daily Load Volume 2 Unlimited
      Minimum Initial Load Equivalent of 10 BSD Equivalent of 10 BSD
      Minimum Re-Load Equivalent of 10 BSD Equivalent of 10 BSD
      Maximum Single Load Equivalent of 300 BSD Equivalent of 5000 BSD
      Maximum Daily Load Equivalent of 300 BSD Equivalent of 5000 BSD
      Maximum Monthly Load Equivalent of 1500 BSD Equivalent of 12000 BSD
      Maximum Annual Load Equivalent of 3000 BSD Equivalent of 12000 BSD
      Maximum Balance Equivalent of 1000 BSD Equivalent of 12000 BSD
  14. SunCash regulating your data
    1. SunCash Privacy Policy regulates the manner in which we collect, use and protect information that you give us. By accepting these Terms and Conditions you agree to our Privacy Policy.
  15. SunCash liability
    1. We will refund the payment amount and all deducted fees in case of an unauthorized or an incorrectly executed payment due to SunCash error. This does not apply in the following situations:
      • If the unauthorized payment is a result of your failure to keep your SunCash Account login details secure as per section 6 of these Terms and Conditions. In this situation, you will be liable;
      • If you do not notify us in a reasonable time after you have gained knowledge about any loss of your SunCash Account login details or any other situation occurred that may prejudice your SunCash Account security. In this situation you will be liable for losses incurred up to your notification to us;
      • If you compromise the security of your SunCash Account with intent or gross negligence and from this behavior an unauthorized transaction is processed, you are to be considered solely liable for all losses;
      • If you do not inform us or bring to our attention an unauthorized or incorrect transaction within 7 days from the transaction date, you will solely liable for all losses.
    2. If you notify us as per section 6.5 and after this notification an unauthorized or incorrect transaction occurs, we shall remain liable and refund the amount immediately to you.
    3. In case our service or our intermediary services is disrupted, we shall not be liable if the disruption is related to unforeseeable circumstances beyond our reasonable control.
    4. SunCash asks you to constantly check your SunCash Account statement and contact our Customer Service in case of doubts or concerns.
    5. SunCash will assist you in case of any incorrect payment and we will take any reasonable measures to assist you with tracing and recovering such payment.
    6. SunCash shall not be responsible for any losses connected to our compliance with legal and regulatory requirements and we shall not be liable for any indirect or consequential losses as loss of profit, loss of business and loss of reputation.
    7. SunCash is to be consider obliged under these Terms and Conditions only in relation to providing e-money Account and connected payment services.
    8. You will be liable to compensate and reimburse us in case we incur or suffer from you breach of these Terms and Conditions.
    9. We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and another SunCash customer.
    10. Indemnification/reimbursement. You agree to defend, reimburse or compensate us and hold us and our other companies in our corporate group harmless from any claim, demand, expenses or costs (including legal fees, fines or penalties) that we incur or suffer due to or arising out of your or your agents' breach of these Terms and Conditions, breach of any applicable law or regulation and/or use of the services. This provision shall survive termination of the relationship between you and us.
  16. SunCash Account terminations and suspension
    1. SunCash may terminate your SunCash Account upon giving not less than one month written termination notice. Any of your pending transaction will continue to be governed by these Terms and Conditions until completion. You may terminate your SunCash Account with us at any time.
    2. The termination notice will be provided with instructions on how, remaining funds, will be send to you.
    3. SunCash reserves the right to suspend your SunCash Account in the following cases:
      • For security reasons and if we suspect that your SunCash Account has been somehow compromised;
      • In case we believe or suspect that your SunCash Account has been used without your knowledge or fraudulently. In this case we will notify you before process the Account suspension. If prior notification is not possible, we will inform you as soon as possible after suspension unless such notification is prohibited by law.
    4. SunCash reserves the right to terminate your SunCash Account with no notice in the following cases:
      • If any conditions indicated in these Terms and Conditions is breached by you;
      • If we believe or we have proof that you are in violation of any law or regulation applicable to the use of our services;
      • If we believe or we have proof that you are involved in any way in a fraudulent activity, money laundering or other criminal activity.
  17. SunCash changing these Terms and Conditions
    1. SunCash reserves the right to apply changes to these Terms and Conditions. These changes will be notified to you as per procedures indicated in this section.
    2. Notification of any changes will be made by email to the email address registered with your SunCash Account.
    3. All changes will come into effect one month after the date of the change notice. If changes make these Terms and Conditions more favorable for you, may come into effect immediately if the change notice indicates so.
    4. You may give us notice in case you object to the proposed changes before the changes come into effect. In this case the changes will not apply to you and your notice will constitute your wish to close your SunCash Account. Your Account will be therefore closed as per section 7 of these Terms and Conditions.
    5. You can anytime request a most update copy of these Terms and Conditions and any other documents by contacting our Customer Service.
  18. SunCash communications to you
    1. SunCash usually communicates to you by email. We require you to keep your email address update in your SunCash Account and we require you to regularly check your incoming message. You are required to keep copies of all communications we send or make available SunCash Customer Service.
    2. SunCash communications are in English and we will accept communication from you only in English. We may provide you with documents and communications in other languages but these shall not be consider as an obligation to us to proceed all communications in that language.
    3. SunCash, along with emails, reserves the right to contact you by SMS, USSD, telephone or letter.
    4. If you wish to contact our Customer Service you may do so using the email address contact@mySunCash.com
  19. Complaints
    1. If you wish to make a complaint about any aspect of SunCash Services, you may your complaint in writing to: #4 Patton Street, Palmdale, PO Box N10620, Nassau, The Bahamas, or send an email to our Customer Service or via the website.
    2. We will acknowledge receipt of your complaint within 2 business days by email. The complaint will be recorded on our system and we will investigate your complaint and come back to you with the results of our investigation no later than thirty business days of receipt of your complaint.
    3. If you are not satisfied with the manner in which SunCash has dealt with your complaint, then you may refer to the matter to the Central Bank of the Bahamas, email: info@centralbankbahamas.com
  20. Miscellaneous
    1. These Terms and Conditions assign rights to you only, as a SunCash Account holder, no other person shall have any rights under these Terms and Conditions.
    2. SunCash Account is operated in the Bahamas and governed in accordance with the laws of the Commonwealth of the Bahamas. In case of dispute, this shall be exclusively brought in the courts of the Bahamas, except where prohibited by the Bahamian law.
  21. Arbitration Generally
    1. If a Dispute, claim, or controversy of any kind arises out of or relates to these Terms of Service, you and we agree to resolve any such Dispute, claim, or controversy exclusively through mandatory binding arbitration. You should review this provision carefully. This arbitration provision limits your and our ability to litigate claims in court, and you and we each agree to waive your and our respective rights to a jury trial. Any arbitration under this provision shall take place on an individual basis; class arbitrations and class actions are not permitted. You will not have the right to participate as a class representative, private attorney general, or member of any class of claimants for any claim subject to arbitration. A claim by, or on behalf of, other persons will not be considered in, joined with, or consolidated with the arbitration proceedings between you and us. Any Dispute regarding the prohibitions in the prior sentence shall be resolved by the arbitrator in accordance with these Terms of Service.
  22. Applicable Law
    1. You agree that the laws of the Bahamas, without regard to principles of conflict of laws, will govern these Terms of Service and any claim or Dispute that has arisen or may arise between you and SunCash.
  23. Agreement to Arbitrate
    1. You and SunCash each agree that any and all Disputes or claims that have arisen or may arise between you and SunCash shall be resolved exclusively through final and binding arbitration, rather than in court, except that you may assert claims in small claims court, if your claims qualify.

Download the App Now!

Choose your native platform to get started.