Flip Globe Terms and Conditions

Terms and Conditions of the FLIP Platform Usage

FLIP Globe Products

Welcome to the Flip Platform, thank you for accessing and using FLIP services. The Terms and Conditions of FLIP Globe Product Usage stated on this page (“T&Cs”) specifically regulate the use of the FLIP Globe Product services contained in the Platform (“FLIP Globe Product Service”). 

All terms with a capital letter prefix, have the same meaning as defined in the Terms and Conditions of Platform Usage and the Privacy Policy contained on the Platform, unless otherwise specified in these T&Cs. The User understands that by using the FLIP Globe Product Service, the User is automatically bound by the Terms and Conditions of Platform Usage, the Platform's Privacy Policy, and all provisions in these T&Cs. In the event of a conflicting provision in the Terms and Conditions of Platform Usage and/or Platform’s Privacy Policy with the provisions in these T&Cs, then the provisions in these T&Cs will prevail to the extent it relates to FLIP Globe Product Services.

1. Definition

1.1 FLIP Globe Product Service is one of the Fund Transfer Services that is devoted to sending money to and from overseas for the purpose of an individual account, not a company or business entity account unless the purpose of the company's or business entity's account is in the options when making a Funds Transfer Order in Platforms.

1.2. Overseas Partner is a third party which is a foreign entity that acts as the organizer of the transfer of funds that has obtained permission from the local state authority and has collaborated with Flip to continue sending funds from the country of origin and/or to the country of destination in accordance with the Funds Transfer Order.

2. General Terms of Service for FLIP Globe Products

2.1 You understand that the execution of Funds Transfer Transactions in the FLIP Globe Product Services (“FLIP Globe Transactions”) based on Funds Transfer Orders will be assisted by Overseas Partners. Therefore, you hereby release us from responsibility for any errors or delays in processing the transfer of funds to the account of the intended Beneficiary if the error is not caused by the system that we manage.

2.2 FLIP Globe Transaction Status indicates that Funds have been successfully/failed to be received by the Beneficiary's account. If you and/or the Beneficiary require further information regarding the status, Flip will assist in conveying the request to the Overseas Partner and convey the relevant information to you as soon as possible after we receive the information/confirmation from the Overseas Partner. You hereby understand and agree that requests for additional information regarding the status of FLIP Globe Transactions are subject to availability from Overseas Partners, so we cannot provide an exact timeframe. However, we will do our best to help request such additional information from our Overseas Partners as soon as possible

2.3. Flip cannot guarantee that information such as the sender's name and other information will be available on the Beneficiary's account mutation. This will depend on the provisions of each payout partner in the destination country.

2.4. FLIP Globe Transactions will be completed at different times for each destination country. FLIP Globe Transactions will be processed by Flip after Funds have been received by Flip in accordance with the Funds Transfer Order. The estimated time required to process the FLIP Globe Transaction will be informed to the User when the User enters the transaction amount on the start page. 

2.5. The minimum transaction amount for FLIP Globe is 1 (according to the currency of each country), except for South Korea (minimum 10,000 KRW) and the Philippines (minimum 50 PHP). The maximum nominal value of a FLIP Globe Transaction is Rp. 99,999,999 (ninety-nine million nine hundred ninety-nine thousand nine hundred and ninety-nine rupiah) for all countries (“Transaction Threshold”).

2.6. In the event that the nominal value of the FLIP Globe Transaction exceeds the Transaction Threshold, Flip has the right and obligation to hold the transaction and request supporting documents related to the purpose of the transaction ("Supporting Documents") which will be carried out based on the policy of the Overseas Partner and in order to comply with the provisions of the Applicable Law in relation to anti-money laundering and the prevention of terrorism financing. 

2.7. Flip will forward any FLIP Globe Transactions held under point 2.6 above after the Supporting Documents provided by the User are deemed sufficient and appropriate. You hereby understand and agree that Flip has full authority to withhold and/or refuse any FLIP Globe Transactions that you instruct under a Funds Transfer Order in the event of (i) incompleteness and/or inconsistency of the Supporting Documents provided by you or (ii) at the discretion of the Overseas Partner.

2.8 Every FLIP Globe Transaction that the User makes will be reviewed by the Overseas Partner and/or the payout partner in the destination country (“Compliance Review”). If the compliance team of the Overseas Partner and/or the payout partner in the destination country requires further information regarding User and/or Beneficiary information, Flip will contact the User to complete the information requested under the Compliance Review. The FLIP Globe Transaction will only be processed after the Compliance Review processcompleted (the SLA of processing the FLIP Globe Transaction after the Compliance Review process is complete is the same as the SLA that we inform on the Platform)

2.9 If the User and/or Beneficiary is not willing to complete the information requested based on the Compliance Review as stated in point 2.8, then the FLIP Globe Transaction that User created is unable to proceed.

2.10. For the destination country of South Korea, there will be a verification process for each Beneficiary who has just made the first transaction. Furthermore, there is a limit of USD 50,000 per year for each Beneficiary. If the Beneficiary has reached the limit, the Beneficiary is unable to receive any more Funds.

2.11. For the country of destination India, if the destination for sending the FLIP Globe Transaction is “GIFT AND DONATIONS” then the Beneficiary's account MUST be India Prime Minister Fund. For the avoidance of doubt, if the Beneficiary's account is not India Prime Minister Fund, the FLIP Globe Transaction cannot be continued.

2.12. Foreign currency exchange rates are subject to changes at any time. The foreign currency exchange rate used for FLIP Globe Transactions is the foreign currency exchange rate when a Fund Transfer Order is made up to the next 15 (fifteen) minutes. If the User makes a Fund Transfer Order at 09.00 WIB and makes a payment to Flip after 09.15 WIB, then the exchange rate used is the foreign currency exchange rate during 09.00-09.15 WIB.

2.13. If there is a significant exchange rate change from the time User opens the FLIP Globe Product Services page until before the Fund Transfer Order is made, the User must start the creation of the Fund Transfer Order from the beginning.

2.14. Specifically for transactions to China via UnionPay, you acknowledge that there may be differences in foreign currency exchange rates which may result in: (i) excess received funds or (ii) shortages received funds. You are required to confirm with the Beneficiary that the conditions referred to on (i) and (ii) are acceptable to the Beneficiary and ensure that the Beneficiary can receive additional transfer in the event that (ii) occurs. You will further incur any transfer shortfalls caused by such difference in foreign currency exchange rates.

2.15. If the result of the conversion of the exchange rate to Rupiah produces a nominal with a decimal number, the result of the conversion will be rounded up.

2.16. In the event of failure to send the FLIP Globe Transaction, User Funds will be returned to User coins. User can withdraw the coins through the Platform in accordance with the conditions set out by Flip.

2.17. The deadline for payment of a Funds Transfer Order is 6 (six) hours after the Funds Transfer Order is completed. If the User does not make payment for the Fund Transfer Order within the time limit, the FLIP Globe Transaction will be canceled by Flip.

2.18. The nominal amount paid by the User to Flip must be in accordance with the total nominal stated in the Funds Transfer Order, up to the last 2 (two) or 3 (three) digit numbers which function as a unique code to identify that the nominal paid by the User is matchedwith a Fund Transfer Order created by the User.

2.19. Flip will not process the FLIP Globe Transaction if the nominal amount paid by the User to Flip does not match the nominal amount stated in the Fund Transfer Order.

2.20. For FLIP Globe Transactions that are canceled due to an error in the nominal amount paid or past the payment deadline, the User can apply for a refundand will be processed within 1 (one) working day at the latest.

2.21. The unique code will be stored in the account coin which can later be withdrawn when it has reached a minimum of IDR 10,000 (ten thousand rupiah).

2.22. Flip will not process unconfirmed FLIP Globe Transactions by pressing the "I've Transferred" button.

2.23. If the User does not press the "I've Transferred" button until the time limit specified in the Fund Transfer Order while the Fund has been sent by the User to Flip, the FLIP Globe Transaction will be canceled and the User can request a refund for the Funds that have been paid to FLIP.

2.24. If the User wishes to request the cancellation of the confirmed FLIP Globe Transaction as mentioned in point 2.21 above, the User understands that the cancellation process of the FLIP Globe Transaction cannot be carried out in real time(“Transaction Cancellation”). Flip takes time to process Transaction Cancellations because Flip needs to submit a Transaction Cancellation request first to the Overseas Partner and/or the payout partner in the destination country. The User understands and agrees that Transaction Cancellation can only be done if the payout partner in the destination country has not succeeded yet in sending Funds to the Beneficiary.

2.25. Flip has the right to suspend FLIP Globe Transactions if it is deemed suspicious and/or meets the criteria for money laundering or terrorism financing as determined by Bank Indonesia.

2.26. In addition to the FLIP Globe Transaction as referred to in point 2.24, Flip has the right to suspend the FLIP Globe Transaction if it is deemed to be related to: 

1. industry and trade in sharp weapons or those related to defense;
2. Manufacture and trade of counterfeit or pirated goods;
3. trade in precious metals, stones, and jewelry;
4. embassies, diplomatic missions and consulates;
5. illegal activity;
6. industry and trade in marijuana and other narcotics;
7. Non-fiat currencies (including open loop virtual currencies or cryptocurrencies);
8. private security companies, private military contractors;
9. prostitution;
10. Online lottery providers; mail-order lotteries, and sweepstakes;
11. rough diamond trading; and
12. other types of activities based on the consideration of Overseas Partners.

2.27. Flip has no legal relationship and/or cooperative relationship with the Beneficiary of the FLIP Globe Transaction. Everything that happens between You and the Beneficiary, other than in connection with suspicious transactions, is not the responsibility of Flip and you hereby release Flip from all losses, demands, claims, expenses, and lawsuit arising from the relationship between You and the Beneficiary, whether related to business relationships and/or other legal relationships.

2.28 Personal Users can use the international transfer product service Flip for Business, for the needs of cross-border business transaction activities.

2.29. The name of the bank account holder used to make payments to Flip under the Funds Transfer Order must be the same as the name of the Account holder. If there is a difference in the name of the bank account holder with the Account name, Flip has the right to suspend and/or refuse the FLIP Globe Transaction.

2.30. Flip is not responsible for the risks that arise due to the nominal error that you pay to Flip does not match the nominal error stated in the Fund Transfer Order that you make. The risk in question is that the Funds sent to Flip are used for Fund Transfer Orders made by other Users.

2.31. Flip is not responsible for the risks that arise due to incorrect inclusion of the Beneficiary's account number when creating and confirming a Funds Transfer Order. The risk in question is that the Funds are sent to another third party account and the Funds cannot be returned (refunded) by Flip.

2.32. Payments for FLIP Globe Transactions CANNOT use the CASH DEPOSIT method THROUGH TELLER BANK.

3. Miscellaneous

3.1 If there are further questions regarding matters that have not been sufficiently regulated in these T&Cs, the User can contact Flip, via email correspondence at hello@flip.id or via telephone at 021 30002424

3.2 T&Cs can be translated into foreign languages other than Bahasa Indonesia as provided by us. It is possible that some parts of these T&Cs have different meanings, intents or meanings when translated into other foreign languages. If there is a difference in interpretation between the Bahasa Indonesia version and the foreign language version, the Bahasa Indonesia version will prevail.

3.3 If any provision or part of these T&Cs becomes invalid, unenforceable or becomes invalid, then that provision or part will be deemed deleted from these T&C and other provisions of these T&C, Terms and Conditions of Platform Usage and/or Privacy Policy will remain in full force and effect.

3.4 We always try to provide the best service for you in accessing Our Platform and using FLIP Globe Product Services so that we reserve the right to make changes to these T&Cs in order to adapt to business developments and the provisions of Applicable Law. Changes to these T&Cs from time to time will be uploaded to the Platform without the obligation of prior notice, therefore We urge you to read changes to these T&Cs carefully and check this page from time to time to be aware of any changes made. For the avoidance of doubt, under any circumstances you understand and agree that the most recent version of the T&C will be uploaded by us on the Platform and the latest version will prevail. You therefore agree not to make any claims of any kind in relation to the differences that exist with the other versions. By continuing to access the Platform and use the FLIP Globe Product Services, you acknowledge that you have read, understood and agreed to be bound by the changes to these T&Cs.

By pressing the "Agree and Continue" on the FLIP Globe Product Services page, the User declares that he/she has read, understood and agreed to be bound and subject to all the provisions contained in these T&Cs.