1.1. GSF is an authorized electronic money institution, that can provide the following services:

  1. Services enabling cash placement on a payment account;
  2. Services enabling cash withdrawals from a payment account;
  3. Execution of payment transactions (not covered by a credit line);
  4. Execution of payment transactions (covered by a credit line);
  5. Issuing payment instruments or acquiring payment transactions;
  6. Money remittance;
  7. Issuing Electronic Money.

1.2. “Account”or “E-money Account” shall meanClient's Electronic money account that is opened by GSF in the name of a Client, which holds Electronic money used for execution or receipt of payment transactions initiated by Client and confirmed by GSF. Electronic money account is the basic/framework Service offered by GSF.

1.3. “Agreement” shall mean an agreement that is concluded between the Client and GSF, which includes Conditions, Application form, Special agreement, Fees document, as well as any annex. The term Agreement shall also mean any order or instruction of the Client to the GSF, which is no trelated to any specific special agreement concluded in writing.

1.4. “Application form” - Client’s expressed will to start using GSF’s services, waive them or create amendments in them, formed in accordance with the Conditions. Applications submitted via GSF Internet-bank have the same power as those submitted in writing. The GSF reserves the right to request an Application form submitted via GSF Internet-bank to also be submitted in writing, without providing a reason.

1.5. “Special Agreement” shall mean an agreement that is concluded between the GSF and the Client, before any individual GSF’s service is provided which stipulates special conditions for the respective GSF’s service. In separate cases the Application form can serve as a Special Agreement.

1.6. “E-Wallet” shall mean sub-account opened in Client’s Account.

1.7. “Base currency” shall be the reference currency - the first currency that appears in the Account and/or E-Wallet.

1.8. “Approved Currency” means any currency approved by GSF from time to time for holding funds in the Client’s Account and/or E-Wallet.

1.9. “Business day” shall mean a day when GSF is for servicing of its Clients and is any day, except UK national holidays and days of rest, as well as GSF's non-business days previously announced to the Client.

1.10. “Business Relationships” shall mean legal relations between GSF and the Client during the time of provision of Services by GSF and until such relationships are terminated in accordance with provisions of these Conditions or an Agreement.

1.11. “Client” shall mean the Account-holder, i.e. a natural person or legal entity, who already has established Business relationships with GSF or who applies to establish Business relationships with GSF.

1.12. “Communication” shall mean any instructions, orders, documents, logs, transactions and any other information intended to be addressed to a party by the other and is described under Relationships and Communications between GSF and Client section.

1.13. “Conditions” shall mean the present Terms and Conditions of GSF and annexes if any, related to the Services of GSF, the use and access of the GSF Internet-bank and any other website and/or interface provided by GSF in current edition of which is published on GSF website.

1.14. “GSF” shall mean GLOBAL STAR FINANCE LTD, registered under laws of United Kingdom with the registration number 11102212, and registered address: 33 Queen St, London, England. EC4R 1AP. website: and email address: GSF is authorised and regulated by the Financial conduct authority (FCA) of United Kingdom as an authorised electronic money institution (EMI) (Licence information may befound here: ;

1.15. “Electronic Money” or “E-Money” means Client’s funds in the Account or electronically, including magnetically, stored monetary value, which is issued by GSF on receipt of funds from the Client for the purpose of makin gpayment transactions on the GSF Internet-bank and which is accepted by the Client.

1.16. “Deposit” shall mean the crediting of funds to Client’s Account by purchasing Electronic money using one of designated Deposit options available.

1.17. “Fees” shall mean any and all fees and charges levied by GSF for provision of Services, as stated in the Fees document and which may be amended by GSF from time to time in accordance with these Conditions and Agreement.

1.18. “Force Majeure” means abnormal and unforeseen circumstances beyond the control of GSF and include: a) strikes, lock-outs or other industrial action; b) civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; c) fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; d) impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport; e) impossibility of the use of public or private telecommunications networks; and f) the acts, decrees, legislation, regulations or restrictions of any government.

1.19. “Login authorisation data” shall include all authorisation/verification information that is provided by GSF to the Client for identification and login into the Account purposes, such as unique account's number, password, login code and any verification messages, sent via e-mail, mobile phone, post or other means of communication.

1.20. “Services” shall mean any services, subject to these Conditions, offered by GSF, including without limitation Account maintenance, issuance of E-Money upon receipt of funds, issuance of payment instruments and execution of payment transactions with issued E-money using payment instruments and any and all products available to the Client and at the Conditions set forth at any time on GSF website and/or the GSF Internet-bank

1.21. “Transaction” or “Payment Transaction” shall mean an act, initiated by the Client of placing, transferring, receiving or withdrawing of funds, irrespective of any underlying obligations between the Client and GSF, and in any case less any applicable Fees.

1.22. “Confidential Information" means all information that may be imparted in confidence or be of a confidential nature relating to the business or prospective business, plans or internal affairs of GSF.

1.23. “Fraudulent Transaction” means any transaction/payment that would constitute fraud in terms of common law (irrespective of whether GSF has processed the transaction/payment/service request or not). This includes any automated /computer generated application or service requests, unauthorized use of card(s) or any activity resulting to a chargeback or transmission of false financial message(s).

1.24. "Intellectual Property" means all or any trademarks or applications for an ysuch marks, trade names, patents or applications for the grant of any such patents, know-how, being technical or otherwise, copy right or designs belonging to GSF.

1.25. “GSF Logo” means image or set of images provided by GSF depicting the GSF Service(s).

1.26. Conditions defined herein shall have the same meaning in any and all other documents related to the opening of the Client's Account with GSF and deemed to be part of these Conditions, except if otherwise specified in the relevant document.

1.27. References to persons shall include individuals, corporate bodies, unincorporated associations, partnerships and any other entities. Words denoting a gender shall include all other genders. References to a Section or Sections shall be deemed references to the respective Section(s) of these Conditions. Headings and notes herein are for reference only and shall not affect the construction and interpretation of the Conditions.


2.1. The Client acknowledges that:

2.1.1. GSF is not a credit institution (bank) and Client's Account is not a bank account;

2.1.2. GSF does not act as trustee, fiduciary or escrow holder in respect of E-Moneyon the Client Account;

2.1.3. GSF does not pay interest on any balances in Client's Account.

2.2. GSF provides access to GSF Internet-bank to authorized Clients only and enables them to make payments to and accept payments, purchase Electronic money or request redemption of Electronic money. GSF is an independent service provider for all purposes.

2.3. Specific conditions may be published on GSF website and within GSF Internet-bank,as amended from time to time (e.g. Privacy Policy, Terms and Conditions). Hence, the Client expressly undertakes to consult and regularly review GSF website and GSF Internet-bank to be timely informed about any changes in respect of other conditions and the Services in particular.

2.4. According to safeguarding requirements GSF holds pooled balances separate from its corporate funds and will not use balances for its operating expenses o rfor any other corporate purposes. GSF will not voluntarily make balances available to its creditors in the event of bankruptcy.


3.1. GSF provides its Services only to authorized Clients that have been duly authorized by GSF after due diligence procedure was carried out by GSF in accordance with its legal obligations.

3.2. As an authorization precondition the Client must accept these Conditions and any specific conditions published from time to time on GSF website.

3.3. During acceptance and authorization process GSF reserves a right to request information and the Client undertakes to provide such information to GSF, including, but not limited to, identification of the Client. GSF may further request any information that is necessary in accordance with anti-money laundering laws and regulations.

3.4. GSF is under no obligation to accept and/or authorise any Client. GSF, upon its full discretion, shall determine the scope of information to be requested from the Client and to decide on which terms and conditions the Client may be accepted and authorised.

3.5. It is the obligation of GSF to maintain up-to-date information on all Clients and it therefore may, from time to time, request any additional information which the Client shall be obliged to provide. If the information is not provided, GSF reserves a right to unilaterally terminate relationship with the Client with immediate effect.

3.6. In case if the Client fails to submit the requested documents and/or information upon GSF request, GSF reserves a right to deactivate Client's Account and further decide upon continuation of Business relationships with the Client.

3.7. The Client shall immediately, but no later than within 5 (five) business days, notify GSF in case of any changes in circumstances or facts to any information and/or documents provided during Client's authorization procedure.

3.8. Once the Client is accepted and authorised by GSF, the Client will be provided with Login authorization data to access the Account. The Account is personal and only the Client has a right to access and use GSF Services through it. The Client shall take all the necessary measures to protect the Login authorisation data (such as: password, Login Code, user ID and any other strictly personal security features) of the Account and only use the Account in accordance witht hese Conditions.

3.9. The Client may not (and may not to attempt to) tamper, hack, modify or otherwise corrupt the security or functionality of GSF System. In case GSF suspects that any of these activities are taking place on Client's Account, GSF reserves a right to immediately freeze the Account and all Transactions on it, until these suspicions are either confirmed or discredited.

3.10. GSF reserves a right to receive any Account related information in English, Russian or Latvian languages only and these languages shall be languages used for purposes of these Conditions and for further communication between the Client and GSF. Client confirms that his command of English language allows full understanding and acceptance of terms expressed in these Conditions.

3.11.T he Client and GSF are entitled to use of communication, such as telephone, e-mail, mobile communication, and other similar technological solutions for Communication purposes either provided by GSF or not. By sending and receiving Communication to and from GSF through any of these communication means, the Client acknowledges and agrees that he may be exposed to inherent risks such as, without limitation, the failure of hardware, software and communications infrastructure (including the Internet). The content of Communication may be altered, not reach their intended recipient or do so much later than intended due to reasons outside the control of the parties, or may be duplicated, disseminated or intercepted by unauthorized parties, and/or reach other than the intended recipients. Telecommunication operators may restrict certain services and/or not accept or restrict the transfer of certain data. As a result of any system unavailability, failure or other disruption, orders may either be not executed according to the Client's instructions or not be executedat all, or may not be placed or amended. Errors, disruptions, unavailability of the means of communication or delays in the transmission may affect transactions accordingly. The Client acknowledges all risks described above and all similar risks (“Telecommunications Risks”) and agrees to use the means of telecommunication at his own risk and of his own volition, assuming full responsibility. The Client confirms that he understands and assumes the risks inherent to the use of the GSF Internet-bank, programming tools and other electronic communication tools.

3.12. The Client releases GSF from any liability, in contract or in tort, with regards to any disruption of Communications arising from the materialisation of Telecommunications Risks and other risks and circumstances. GSF shall not be liable for any direct, indirect, incidental or implied consequences for the Client or any third party attributable to Telecommunications Risks. GSF does not warrant that it will be able to maintain a continuous, uninterrupted link with the Internet, and may not be held liable therefore.

3.13. GSF reserves the right to record and/or protocol all Internet exchanges (e.g. chats within Client’s Account), e-mails and meetings between the Client and GSF at its discretion, and use such recordings or transcripts of such recordings as evidence vis-à- vis any party (including but not limited to regulatory authorities and courts of law) to whom GSF deems it desirable or necessary to disclose such information in the course of any dispute or anticipated dispute involving GSF and the Client. The Client may nonetheless not rely on the availability of such recordings.

3.14. The Client agrees that GSF may provide notice or other information to the Client by posting it on the GSF website -, including the posting of information which is only accessed by the Client by logging into Account, e-mailing it to the verified e-mail address registered with Clients Account, calling Client by phone, or sending SMS message. The Client must have internet access and an e-mail account to receive communications and information relating to the Services.

3.15. Above mentioned notice shall be considered to be received by the Client within 24 (twenty four) hours of the time it is posted to the GSF website or e-mailed to the Client. If the notice is sent by mail, GSF will consider it to have been received by the Client 3 (three) Business Days after it is sent.

3.16. The Client may request a copy of any legally required disclosures, including these Conditions, from GSF and GSF will provide it to the Client in durable form, e.g. by e-mail.

3.17. The Client may terminate its consent to receive required disclosures through electronic communication by making respective request to GSF. GSF may charge the Client a document request fee to provide a paper copy. GSF reserves a right to close Client's Account, if the Client withdraws Client's consent to receive electronic communications.

3.18. Notices to GSF made in connection with these Conditions must be send by e-mail to: or by postal mail to GSF correspondence address: 33 Queen St, London, England. EC4R 1AP.


4.1. Alternatively known as “know your client” or simply “KYC”, is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the Business Relationship. GSF implements KYC and anti-money laundering requirements in all processes to ensure their Clients, agents, consultants, or other partners are anti-bribery compliant.

4.2. GSF increasingly demands that Clients provide detailed due diligence information to understand the nature of the Client’s activities (primary goal is to satisfy that the source of the Client’s funds is legitimate). GSF assess money laundering risks associated with that Client for purposes of monitoring the Client’s activities.

4.3. Client authorizes GSF, directly, through third parties or otherwise to make any necessary inquiries to validate Client’s identity. This may include asking Client for further information, requiring to provide date of birth, a taxpayer identification number and other information that will allow GSF to reasonably identify Client, requiring Client to take steps to confirm ownership of Client’s email address/phone number or financial instruments or verifying Client’s information against third party databases or through other sources. GSF reserves the right to close, suspend, or limit access to Client’s Account and/or the GSF Services in the event GSF is unable to obtain or verify this information.


5.1. Login and authorization:

5.1.1. The Client shall access the Account through website by entering Login authorisation data provided to the Client by GSF. In case of any problems with Login authorisation data, the Client shall request technical assistanceby contacting GSF at: or by calling 02070963143 for UK customers or +44 2070963143 if calling from overseas.

5.1.2. After Client’s Login authorisation data is verified by GSF, the Client shall get access to Account and shall be able to give Transaction instructions to GSF;

5.1.3. In case when the Client suspects his Login authorisation data is obtained by third party the Client shall immediately inform GSF asking to block his Account until full investigation and identification is carried out by calling 02070963143 for UK customers or +44 2070963143 if calling from overseas.

5.2. Exclusive rights to use the Account:

5.2.1. the Client shall keep Login authorisation data secret and fully confidential and to protect it against any misuse. The Client shall be responsible for the loss or misuse of any Login authorisation data and shall bear exclusive liability for any consequence of their use by unauthorised persons;

5.2.2. anyone accessing the Account by entering Login authorisation data shall be deemed to be the Client, without any further clarification from GSF. GSF remains free to request additional identification elements at any time to verify the Client's identity;

5.2.3. The Client may request GSF to block his Login authorisation data in case the Client suspects that it has been compromised. Such blockage may be revoked by the Client only.


6.1. The Client expressly agrees to duly pay for any Services provided, e.g. for international payment transfers and currency conversions, Withdrawals or amendments of payment transactions, searching and preparing a printouts and documents, for performing any outstanding services for the Client by GSF and sending reminders. Client expressly agrees to pay all the applicable Fees as set out under Fees document available in Annex No 1 of the Agreement.

6.2. The Client acknowledges and understands that he is obliged to familiarise himself with Fees document prior to instructing GSF to make any Transactions. The Fees document contains all applicable interest rates, commissions and fees for Services provided by GSF, thus the Client shall observe these at all times.

6.3. The Client agrees that any Fees that are due by the Client to GSF may be withdrawn by GSF directly from the Client's Account.

6.4. Client and GSF expressly agree that any changes in applicable interest rates, commissions and Fees for Services shall enter into force immediately and no prior notice is necessary for such changes and/or amendments to enter into force


7.1. GSF does not accept Transactions from or to sanctioned persons, countries and territories in accordance with European and UK laws and regulations.

7.2. Notwithstanding any other provisions of these Conditions, GSF shall be entitled to restrict access to, or to impose limits, suspend, stop or cancel providing the Services for Client, if the Client's actions match the criteria (including without limitation) its sole discretion and with immediate effect.

7.2.1. GSF has listed number of activities that are restricted or prohibited as they relate to the use of the GSF Services, the terms of these Conditions, the applicable laws, regulations, directives and decrees that may be issued from time to time by the GSF, the jurisdiction it is authorised, the jurisdictions of its cross border activities and the European Union/European Commission. The Client agrees that engaging in any of the below activities, may cause GSF service quality to suffer, and that Client may restrict the level of safe access that Client may enjoy. Such activities include:

7.2.2. Violating any law, regulation, directive, statute or contract in relation with the Services received, including without limitation, money laundering laws and regulations, consumer and personal data protection, the Electronic money directive, the Electronic money regulations 2011, the Payment services regulations 2017 ;

7.2.3. Violating сonditions, including without limitation any other policies and/or regulations related to Services;

7.2.4. Acting in a manner that is offensive, harassing or demeaning to other Clients, to GSF, and/or its subsidiaries, partners and third parties;

7.2.5. Providing inaccurate, disingenuous, misleading or entirely false (deliberately) information without justifiable cause;

7.2.6. Sending and receiving what may be deemed as unauthorised funds or funds from fraudulent transactions;

7.2.7. Infringement of GSF's copyrights, patent, trademarks or any other intellectual property rights;

7.2.8. Not being cooperative with GSF when requested to provide additional information that will allow GSF to better familiarise itself with the nature of Client's business and continuing operations;

7.2.9. Refusing to provide confirmation of Client's identity and verification of details when requested upon, in order for GSF to perform an investigation when needed;

7.2.10. Sending or submitting to GSF documents that GSF reasonably believes to be fraudulent;

7.2.11. Using tools and mechanisms to hide Client's identity and location (use of proxy and other anonymising technics);

7.2.12. Causing and maintaining an Account with a balance owed to GSF (negative balance);

7.2.13. Engaging in activities that may cause GSF with increased risk of fraud or credit exposure that is beyond the acceptable limits set by GSF;

7.2.14. Engaging in activities that lead to GSF handling a disproportionate number of claims settled in favor of the claimant Client;

7.2.15. Using the GSF Services from a jurisdiction that the GSF cross border authorisation does not cover;

7.2.16. Intentionally or unintentionally facilitate any malicious computer programming routines that may cause damage, harmfully interfere with, clandestinely capture or steal any system, data or information;

7.2.17. Facilitating any viruses, Trojan horses, worms or other computer programming tools, as well as using of anonymising proxy, that may make damage to GSF Internet- bank;

7.2.18. Acting in a manner that has a negative interference with the provision of GSF service in accordance with these Conditions;

7.2.19. Using Services in a manner that could cause a risk of non-compliance with GSF anti-money laundering, counter terrorist financing and other relevant regulatory obligations;

7.2.20. Using GSF Services in a manner that may result in complaints, disputes, claims, fees, fines, penalties and other liability to GSF, a Client, or a third party;

7.2.21. Disclosing information of other Client to third parties;

7.2.22. Using Service in a manner that deviates from what is prescribed in these Conditions.

7.3. The Client shall be liable to GSF or third party involved for all the losses resulting from the activity as described in Section 7


8.1. GSF shall make every effort to avoid unauthorised Transactions to take place on the Client's Account. For these reasons every Client shall be fully identified by presenting the Login authorisation data before being able to make any Transaction.

8.2. In case Client reasonably believes that Account has been compromised, hacked, misused by third parties in any way or had been otherwise used in an unauthorised manner, Client agrees to notify GSF immediately by calling to 02070963143 for UK customers or +44 2070963143 if calling from overseas. In such a case Client impliedly authorises GSF to block any Transactions on the Account immediately. For any further communication identification verification procedure must be repeated by GSF.

8.3. GSF reserves a right to block Client's Account in case it reasonably believes that the Client's Account has been compromised, hacked, misused by third parties in any way or had been otherwise used in an unauthorised way. GSF shall notify the Client in event of blocking as soon as it might be reasonably necessary in the situation.

8.4. GSF shall not bear any responsibility for any losses resulting from unauthorised use of the Account or Services, including to any Transactions made in the GSF Internet-bank or outside it.


9.1. GSF shall be entitled to amend these Conditions at any time by giving a notice of thirty (30) calendar days, including but not limited to a notice given by e-mail to the Client or posted on GSF's website or presented when the Client accesses the GSF Internet-bank. Such changes and/or amendments shall become effective on the date specified in the notice, unless expressly disapproved by the Client within thirty (30) calendar days as from the date of notification, in which case the Parties may exercise their right to terminate Business relationships in accordance with these Conditions and Agreement;

9.2. GSF expressly reserves a right to use its website to inform the Client about any changes in these Conditions and the posting of a notice on GSF's website shall be deemed a valid notification of such changes to the Client. The Client undertakes to regularly review GSF's website and/or to regularly access to the GSF Internet-bank where relevant information may be published.

9.3. Amendments necessary for the enrichment of Service and its delivery or in cases where Client's rights and obligations are not adversely affected will apply with immediate effect.


10.1. The Business Relationships between the Client and GSF shall remain in force until terminated by mutual agreement.

10.2. Without prejudice of the right of early termination as set forth in the next Section, either Party is entitled to terminate Business relationships with the other at any time, without reason, by giving no less than one (1) month prior written notice, including but not limited to notice given by e-mail to the other Party, such notice to specify the date on which the termination is to becom eeffective. No penalty shall be payable by either Party upon termination of Business relationship. Termination shall in no way affect any rights and obligations accrued hereunder until the date of termination. Indeed, the Client cannot cancel already executed Transactions and shall fully remunerate Services already provided.

10.3. The termination of Business Relationship with the Client shall extinguish the Client's right to use the GSF Internet-bank as well as any other software and solutions made available by GSF.

10.4. Upon termination of Business relationships, Client and GSF undertake to complete all Transactions that are already in progress and the terms of these Conditions shall continue to bind both Parties in relation to such Transactions. However, GSF shall be entitled to complete all outstanding Transactions of the Client and to offset, after conversion into the Base Currency, any amount due to the Client against any amount owed by the Client, irrespective of the maturation date of any respective Transaction. GSF shall be entitled to deduct all amounts due to it before transferring any funds on any Account of the Client.

10.5. Upon termination of Business relationships with the Client, the right of the Client to use any and all of GSF software and systems that have been made available to the Client during the term of these Conditions shall expire.


11.1. Neither Party shall disclose to any person (unless required to do so by any applicable law or by any regulatory or supervisory authority or by any other person entitled by law to require such disclosure) any information relating to the business, Transactions, finances or other matters of confidential nature of the other Party which it may in the course of its duties or otherwise become aware, and each party shall use all reasonable endeavors to prevent any such disclosure;

11.2.By adhering to these Conditions, the Client authorises GSF to disclose such information relating to the Client as may be required by any law, rule or regulatory authority without prior notice to the Client.


12.1. All GSF Logos related to the GSF Services are either trademarks o rregistered trademarks of GSF. Client shall not copy, imitate or use them without GSF prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of GSF. All rights, title and interest in and to the GSF website, any content there on, the GSF Services, the technology related to the GSF Services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of GSF.


13.1. The rights and remedies contained in these Conditions shall be cumulative and not exclusive of any rights or remedies provided by law. No delay or omission of GSF in exercising any right, power or remedy provided by law or under these Conditions, or partial or defective exercise thereof, shall: impair or prevent any further or other exercise of such right, power or remedy;

13.1.2. operate as a waiver of such right, power or remedy;

13.1.3. no waiver of breach of all or part of these Conditions shall (unless expressly agreed in writing by the waiving party) be construed as a waiver of any future breach of the same or as authorising a continuation of a particular breach.


14.1. The Client shall indemnify GSF and keep GSF indemnified against all losses, taxes, expenses, costs and liabilities whatsoever (present, future, contingent or otherwise, and including reasonable legal fees) which may be suffered or incurred by GSF as a result of or in connection with:

14.1.1. any breach of these Conditions by the Client;

14.1.2. as a result of illegal actions performed by the Client using GSF services.


15.1. GSF has no obligation whatsoever to any taxation or similar authority in respect of any taxation or other similar duty or levy payable by Client. It is Client's obligation to pay all taxation, duties and levies that are payable by it in respect of Client's Account.


16.1. GSF is not responsible for any breach of these Conditions, or for any loss Client might incur in connection with such breach, due to any Force Majeure circumstances.

16.2. The performance of Services is deemed to be suspended for the period that the Force Majeure circumstances continue, and GSF will have an extension of time for performance for the duration of that period.

16.3. If any Force Majeure circumstances occur, GSF may take any action it considers appropriate in connection with Services and use reasonable endeavour's to end the Force Majeure


17.1. GSF is committed to protect its Clients’ privacy. This Privacy Section explains what personal data GSF collects and stores about its Clients, persons with whom GSF shares the personal data, and how Clients can instruct GSF not to share certain personal data with certain persons.

17.2. GSF may collect, use and disclose personal information as authorised by law or with Client's consent. Depending on the circumstances, Client's consent to the collection, use and disclosure of personal data may be express or implied. Express consent would arise if Client specifically consented to a particular dealing in its personal data. Express consent can be given orally, electronically (by clicking a button) or in writing. If GSF needs to collect, use or disclose any information for any purpose not set out in this Privacy Section, GSF will give the Client appropriate notification and give the opportunity to object or decline to the collection, use, or disclosure of this information.

17.3. Applicability of Privacy:

17.3.1. this Privacy Section applies to Services offered by GSF, but excludes services that have separate privacy policies that are not included in this Privacy Section.

17.3.2. this Privacy Section does not apply to services offered by other companies or individuals, including products or sites linked from GSF services.

17.3.3. this Privacy Section does not cover the information practices of other companies and organisations who advertise its services, and who may use cookies, pixel tags and other technologies to serve and offer relevant ads.

17.4. Meaning of personal data:

17.4.1. Client's personal data means any information relating to an identified or identifiable natural person; an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

17.4.2. GSF stores collected personal data of its Clients electronically on a computer or in certain paper filing systems, relating to an individual, who can be identified from that data (or from that data and other nonpublic personal data in our possession). Personal data can be factual or an opinion.

17.5. Data collection and purpose specification:

17.5.1. the purpose of collecting Client's personal data is to set up, manage, analyse and maintain Client Accounts, as well as to offer other GSF Services to Clients.

17.5.2. when collecting personal data from Clients, GSF provides Clients with the following information unless it is already available to the Client: GSF name and address, the intended purpose for the personal data collection and processing,

17.5.3. On the basis of a request from the Client, GSF provides the following information: the possible recipients of the personal data, the right of the Client to gain access to his or her personal data and of making corrections in such data, whether providing an answer is mandatory or voluntary, as well as the possible consequences of failing to provide an answer, the legal basis for processing of personal data.

17.5.4. GSF collects and processes the following personal data about its Clients: Personal data the Client provides on applications or other forms or uploads to its personal account, such as name, address, e-mail address, gender, identification number, telephone number, date of birth and “Know Your Client” information, data about Clients' Transactions with GSF or other parties, such as account activation, Account balance and execution of Transaction, Client’s correspondence with GSF.

17.5.5. Personal data GSF receives from third parties in order to verify information that Client has provided to GSF (such as identity), or to protect its Clients, suppliers and correspondents against fraud, such as payment processors, banks, credit reference agencies (but for identification and fraud-prevention purposes, not credit checking purposes), fraud checking agencies, providers of operational services, and regulators.

17.5.6. GSF does not collect or store: any personal data from its Client when they intend to use Services unless expressly stated to the contrary, information about its visitors from other sources, such as public records or bodies or private organisations, any sensitive personal data about Clients,

17.5.7. GSF will only use Clients personal data in enonymous form if Client has knowingly and expressly provided this data to GSF.

17.5.8. Disclosure of Client's personal data: GSF will not disclose Client's personal data to any third parties with the following exceptions, any electronic money issuer or issuer of payment cards provided through GSF and any card scheme, e.g. Visa or Mastercard, other third parties who provide services to Client, which require the use of GSF services, for example operators of currency exchanges, persons who perform services on behalf of GSF, including those who administer Client's use of Services or Client's Account or respond to Client inquiries, or who provide marketing services to GSF, persons from whom GSF receives or to whom GSF transfers Client's funds held in Account that GSF provides to Client, any person to whom GSF transfers its business or its agreements with Client, as required by law or regulation, persons as instructed by the Client;

17.5.9. GSF has the rights to provide the Client’s personal data to third persons - the Client’s case can be transmitted to the Debt collection’s agencies due to inability of GSF to achieve the fulfilment of Client’s obligations under these Conditions.

17.5.6. Protection of personal data: once sent to GSF, personal data is stored on its servers, to which access isstrictly limited. GSF has taken particular precautions to ensure the protection of its technical environment.


18.1. If the Client has a complaint regarding Services or any other matters contained in these Conditions, the Client may contact GSF by e-mail to: or by other means, as mentioned in the Complaints handling policy available at GSF website.


19.1. GSF is not responsible for any breach of these Conditions, or for any loss Client might incur in connection with such breach, due to any Force Majeure circumstances. The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could berefused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found in our privacy policy. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can also be found by visiting

19.2. Whenever fraud prevention agencies transfer your personal data outside of the European Economic Area, they impose contractual obligations on the recipients of that data to protect your personal data to the standard required in the European Economic Area. They may also require the recipient to subscribe to ‘international frameworks’ intended to enable secure data sharing”.


20.1. The Client and GSF shall make every endeavor to amicably resolve any dispute, in good faith and in a constructive manner. The Client acknowledges and agrees that threats and blackmailing towards GSF are prohibited and constitute valid ground for interrupting negotiations and for immediate termination of any Business relationships.

20.2. If The Client is not satisfied with the GSF response on the complaint, he can use alternative dispute resolution procedure and contact the Financial Ombudsmen Service. More information about this opportunity can be found at their website: .

20.3. In case if parties are unable to reach amicable solution to the dispute, they must proceed in accordance with provisions of Section 20.


21.1. These Conditions are construed in accordance with and shall be governed by the laws of the United Kingdom.

21.2. Any dispute, controversy or claim arising out of or in relation to these Conditions, including the validity, invalidity, breach or termination thereof, shall be settled before the courts of the United Kingdom and in accordance with the United Kingdom laws.

21.3. The Section 20 shall survive any termination of these Conditions and/or the relationship between GSF and the Client.