Terms of Use

1. Introduction

Welcome to Nimo Forex (operated by Paywize Forex Pvt Ltd). These Terms of Use ("Terms") govern your access to and use of our website at https://nimoforex.com, our mobile applications, and all related services (collectively, the "Services") provided by Paywize Forex Pvt Ltd, an RBI Licensed FFMC authorised by the Reserve Bank of India.

These Terms constitute a legally binding agreement between you ("User" or "you") and Paywize Forex Pvt Ltd ("Company", "we", "us", or "our"). By accessing or using our Services, you agree to be bound by these Terms.

2. Acceptance of Terms

By accessing, browsing, or using our Services, you acknowledge that you have read, understood, and agree to be bound by these Terms along with our Privacy Policy. If you do not agree with any part of these Terms, you must not use our Services.

We reserve the right to modify these Terms at any time. Changes will be effective immediately upon posting on our website. Your continued use of the Services after any changes constitutes acceptance of the revised Terms.

3. Description of Services

Nimo Forex provides the following forex-related services, subject to applicable regulations and RBI guidelines:

• Forex Cards: Multi-currency prepaid travel cards for international transactions, available as virtual and physical cards.
• Currency Exchange: Buying and selling of foreign currencies at competitive exchange rates across 35+ currencies.
• Remittance Services: International money transfer services to over 100 countries under the Liberalised Remittance Scheme (LRS).
• Corporate Solutions: Business forex management, corporate travel cards, and multi-user expense management.

All services are provided in compliance with the Foreign Exchange Management Act (FEMA), 1999 and RBI Master Directions applicable to Full Fledged Money Changers.

4. User Obligations

As a user of our Services, you agree to:

• Provide accurate, current, and complete information during registration and for all transactions, including valid KYC documents as required under RBI regulations.
• Maintain the confidentiality of your account credentials and notify us immediately of any unauthorised access or security breach.
• Use the Services only for lawful purposes and in accordance with FEMA regulations and the LRS limits prescribed by the RBI.
• Not engage in any activity that could damage, disable, or impair our systems, servers, or networks.
• Not use the Services for money laundering, terrorist financing, or any other illegal activity.
• Comply with all applicable Indian laws and regulations, including but not limited to the Prevention of Money Laundering Act (PMLA), 2002.

5. Forex Transactions

All foreign exchange transactions conducted through Nimo Forex are subject to the following conditions:

• Exchange rates are dynamic and subject to market fluctuations. Rates displayed are indicative and the final rate will be confirmed at the time of transaction execution.
• All transactions are subject to RBI-prescribed limits under the Liberalised Remittance Scheme (LRS), currently USD 250,000 per financial year per individual.
• Valid travel documents (passport, visa, and air ticket) may be required for the purchase of foreign currency, as applicable.
• We reserve the right to decline any transaction that we reasonably believe may violate applicable laws, regulations, or our internal compliance policies.
• Transactions once completed cannot be reversed. Refunds, if applicable, will be processed at the prevailing exchange rate at the time of refund.

6. Privacy

Your use of our Services is also governed by our Privacy Policy, which describes how we collect, use, store, and protect your personal information. By using our Services, you consent to the collection and use of your information as described in our Privacy Policy. We comply with the Information Technology Act, 2000 and the Digital Personal Data Protection Act, 2023 with respect to data handling practices.

7. Intellectual Property

All content on our website and applications, including but not limited to text, graphics, logos, icons, images, software, and the "Nimo Forex" brand name and logo, are the exclusive property of Paywize Forex Pvt Ltd and are protected by Indian copyright, trademark, and intellectual property laws.

You may not reproduce, distribute, modify, display, create derivative works from, or otherwise use any content from our Services without prior written permission from Paywize Forex Pvt Ltd. Unauthorised use may result in legal action.

8. Limitation of Liability

To the fullest extent permitted by applicable law:

• Paywize Forex Pvt Ltd shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from or related to your use of our Services.
• We do not guarantee uninterrupted, secure, or error-free operation of our website, applications, or any services.
• We are not responsible for any losses arising from exchange rate fluctuations, network failures, system downtime, or circumstances beyond our reasonable control (force majeure events).
• Our total liability for any claim arising from the use of our Services shall not exceed the fees paid by you for the specific transaction in question.

9. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of India, including but not limited to the Foreign Exchange Management Act (FEMA), 1999, the Information Technology Act, 2000, and the Indian Contract Act, 1872.

Any disputes arising out of or in connection with these Terms or the use of our Services shall be subject to the exclusive jurisdiction of the courts in Bengaluru, Karnataka, India.

10. Contact Information

If you have any questions or concerns regarding these Terms of Use, please contact us: