Terms and Policies

Services Schedule

Effective from 1 November 2025

1. Introduction

1.1 Statrys is a technology service provider and provides, either directly or through intermediaries, various Services to facilitate the Customer’s use of its Statrys Account via the Statrys Dashboard.

1.2 This Services Schedule (“ Services Schedule”) sets out the terms and conditions applicable to the Customer’s access to the Statrys Dashboard and use of the Services, including the Statrys Account, and is supplemental to and forms part of the Terms. The parties to this Services Schedule are Statrys and you / the Customer.

1.3 By electronically accepting or acknowledging the terms and conditions of this Services Schedule on the Website or the Statrys Dashboard, or by signing up for a Statrys Account, you are deemed to have read and accepted this Services Schedule. 

1.4 Please read the Services Schedule carefully together with the [Master Service Agreement] and the [Acceptable Use Policy].

1.5 Capitalised terms used in this Services Schedule but not defined herein have the meanings given in the [Master Service Agreement].

2. Changes to this Services Schedule.

2.1 Statrys may amend, supplement, delete and/or vary any part of this Services Schedule at any time by posting a revised version on our Website. Where appropriate, we may give you notice of any changes to this Services Schedule, and such changes shall take effect on the date specified in the notice.

2.2 If you do not agree to the revised terms of the Services Schedule, you have the option to close your Statrys Account and cease your use of the Services. Your continued use of the Services after any such changes shall constitute consent and acceptance of this Services Schedule as may be revised from time to time.  

2.3 In some circumstances, we may change this Services Schedule immediately. Notwithstanding Clause 2.1, changes to this Services Schedule which are (1) more favorable to you; (2) required by law or regulation; (3) related to the addition of a new Service or extra functionality to the existing Services; or (4) changes which neither reduce your rights nor increase your responsibilities, will come into effect immediately.

3. Services

When you open your Statrys Account with Statrys, you will be provided with the services below (“ Services”):

3.1 “ Multi-currency Account” means a dedicated virtual account established by Statrys, offered as a core Service accessible through your overarching Statrys Account. This account allows the Customer to hold balances in Supported Currencies, and to convert, send (via Payout Service), or receive (via Collection Service) funds. The Multi-currency Account is the specific repository used for the deduction of applicable Fees, charges, and set-off amounts related to the use of the Services.

3.2  Collection Service. Collection Service is the service whereby Statrys provides you with the Multi-currency Account for the purpose of collecting or receiving funds in the Supported Currencies from payers in the Supported Jurisdictions.

3.3  Payout Service. Payout Service is the service whereby you may instruct Statrys to transfer funds from your Multi-currency Account to a third-party payee (“ Payout”).  Statrys may work with Service Providers to make a Payout.

3.4  FX Conversion. FX Conversion is the service whereby you may convert one Supported Currency to another currency at an agreed FX rate and may be used in connection with Collection or Payout (“ FX Conversion”).  

4. Multi-currency Account 

4.1 Your Multi-currency Account can hold balances in the Supported Currencies as offered by Statrys, which may change from time to time at our discretion. 

4.2 The Multi-currency Account can be topped up by way of a bank transfer to your Multi-currency Account. Furthermore, you can receive funds to your Multi-currency Account from a third party who initiates a transfer through the Collection Service in accordance with Clause 6 below.

4.3 When transferring funds to your Multi-currency Account, such transfer of funds is a service provided by a third party and Statrys has no control over the time it may take for clearing and settlement. Any delay on reflecting the balance in your Multi-currency Account during the fund-in-transit process is outside of Statrys control. Statrys shall only credit and reflect the balance to your Multi-currency Account after duly receipt and sight of funds into Statrys. 

4.4 In some circumstances, Statrys may need to reverse a transaction occurred in your Multi-currency Account, which may involve either deducting funds previously credited to your Multi-currency Account or crediting funds previously debited from your Multi currency Account. Such reversals may occur in the following situations:

1. When the original payer initiates or is likely to initiate a reversal of the transaction. 
2. If funds have been transferred to you erroneously or your Multi-currency Account has been credited or debited by mistake. 
3. In cases where you have provided Statrys with inaccurate or incorrect transaction instructions. 
4. If Statrys has reasonable grounds to suspect that a transaction is fraudulent or violates the Terms. 
5. When a payment provider or financial institution involved in the transaction requests a reversal for any reason. 
6. If the transaction appears to be related to activities that contravene any agreement between you and Statrys, or any Applicable Law.
7. If the transaction was made as a result of a technical error or system malfunction.
8. If we need to correct a misapplied or erroneously processed transaction.

Pursuant to Clause 14 herein, in addition to deducting or returning funds to your Multi-currency Account, we have the right to combine and consolidate all or any of your Statrys Account(s), and to set off and deduct from any of your Multi-currency Accounts the amount owed.

4.5 Statrys reserves the right to deduct the reversed amount from your Multi-currency Account balance. If your Multi-currency Account has insufficient funds to cover the reversal, you are obligated to reimburse Statrys for the deficit immediately upon our request. Statrys may, at its discretion, reverse transactions in the original transaction currency or convert the reversal amount to a different currency at the prevailing exchange rate.

4.6 You agree that if funds are credited to your Multi-currency Account by mistake, we may, once we are aware of the mistake, immediately deduct the funds from your Multi-currency Account. You further agree that you have no claim, rights or interest to funds credited to your Multi-currency Account by mistake. We will tell you about the mistake and the amount we have deducted. If you have used or transferred the funds from your Multi-currency Account, you must return the funds to us as soon as we have told you about the mistake.

5. Customer Compliance, Security, and Operational Risk Acknowledgement

5.1 Pursuant to your obligations and warranties in the Master Agreement (including Clause 4.4 and 14.2 therein), you are responsible for keeping the username and password to your Statrys Account securely and ensuring that all Electronic Instructions, notices, and documents provided to us are complete, accurate, and properly initiated by your Authorised Users. You must monitor your Statrys Account and promptly report to us any unauthorized access or suspicious activity.

5.2 You acknowledge and accept that, as stipulated in the Master Agreement (including Clauses 16 and 17, concerning Force Majeure and Limitation of Liability), any limitation or impairment in your ability to use, access, and operate the Statrys Account or any Services may be due to factors outside the reasonable control of Statrys. These factors include acts of non-affiliated third parties, technical conditions of the internet, or Force Majeure Events. Furthermore, you acknowledge and accept that your usage of any hardware, software, and any other technical infrastructure that you use to access or operate the Services shall be at your own risk

5.3 You warrant and agree that, in accordance with the Master Agreement (including the warranties in Clause 14 and the prohibitions in Clause 2.2 and 21.8), you shall not use, and shall not authorise the use of, the Statrys Account or funds in the Multi-currency Account for any transaction that: (a) contravenes the laws of any jurisdiction or fails to comply with all Applicable Laws in connection with your use of the Services, including but not limited to laws concerning sanctions, money-laundering, fraud and the funding of terrorist organisations; (b) involves prohibited or restricted activities or industries listed in our Acceptable Use Policy; or (c) involves countries, organizations, or individuals subject to sanctions administered, enacted, or enforced from time to time including by the Monetary Authority of Singapore, the European Union, the United Nations, or the United States of America.

6. Electronic Instructions

6.1 Any Electronic Instruction relating to the operation of your Statrys Account (including any Electronic Instructions for the debiting and crediting of your Multi-currency Account) must be directed to or via Statrys unless otherwise notified to you.

6.2 When you use your Statrys Account, you are authorising Statrys to act as your intermediary only with respect to holding, sending, or receiving funds. 

6.3 You may give Electronic Instructions to Statrys to:

1. receive payments into or make payments out of your Statrys Account using such channels, payment gateways and methods as may be available on the Statrys Dashboard from time to time;
2. effect foreign currency transactions (including FX Conversions) on your Statrys Account by means of the use of channels, payment gateways and methods as may be available to you from time to time; and
3. accept and act on Electronic Instructions from your Authorised Users, whether or not related to or employed by your company or business, relating to the operation of your Statrys Account.

6.4 In relation to the foregoing, and pursuant to your consent granted in the Master Agreement, you authorise and agree that Statrys shall be entitled to send and disclose such Electronic Instructions and related data from you to such other Affiliated Entities or party(ies) for the purposes of facilitating, effecting, and processing your Electronic Instructions.

6.5 You acknowledge and agree that Statrys may work with its Affiliated Entities or Vendors to effect FX Conversion instructions. The indicative foreign exchange rate in respect of a proposed FX Conversion (“ Indicative FX Rate”) will be made available to you via the Statrys Dashboard or otherwise before you make such an instruction. We will use reasonable efforts to ensure that the foreign exchange rate applied is as similar as possible to the Indicative FX Rate quoted to you. You acknowledge and agree that such differences, if any, will come into effect immediately without notice to you.

6.6 You acknowledge that cross-border money transfers you wish to make from, or receive into, your Multi-Currency Account, are subject to the applicable terms and conditions of the relevant Affiliated Entities or Vendors providing the cross-border money transfer service as set out on the Statrys Dashboard or otherwise notified to you.

6.7 Pursuant to the Master Agreement, Statrys shall be entitled to rely and act on any Electronic Instruction, notice, certificate, report or document which Statrys in its sole opinion believes originates from you, and any action taken pursuant thereto shall bind you. Statrys shall be under no duty to inquire into or investigate the validity, accuracy or content of any such Electronic Instruction, notice, certificate, report or document.

6.8 Notwithstanding anything else herein contained, and in connection with our rights to suspend Services under the Master Agreement, Statrys may refrain without liability from doing anything that would or might in its opinion be contrary to any law of any state or jurisdiction or any directive or regulation of any agency of any such state or jurisdiction. Statrys may, without liability, do anything which is, in its opinion, necessary to comply with any such law, directive or regulation. In the event that Statrys receives Electronic Instructions which, in its opinion, are unclear or conflicting or which conflict with any of the provisions of this Services Schedule, it shall be entitled to refrain from taking any action until it receives such confirmations and clarification from the Customer to its satisfaction.

6.9 You acknowledge your responsibility under the Master Agreement to make sure that you give us complete, clear and accurate information when you ask us to transfer funds. Statrys shall not be responsible or liable for any loss, damage, or delay arising from the non-processing or defective execution of Electronic Instructions caused by incorrect, unclear, or incomplete information provided by you.

6.10 We shall have the right to determine the order of priority in effecting the Electronic Instructions and any other existing arrangements which you have made with us.

6.11 Unless otherwise expressly provided, all Electronic Instructions shall continue in full force and effect until Cancelled or superseded. Electronic Instructions may be reversed, amended, Cancelled or revoked by you only with Statrys consent. If you have given us Electronic Instructions to transfer funds from your Multi-currency Account in error, we will use reasonable efforts to recover the sum for you. An Electronic Instruction may not be reversed, amended, Cancelled or revoked if Statrys reasonably determines that it would not be possible to give effect to any reversal, amendment or revocation in the transaction.

7. Collection Service

7.1 Funds in a Supported Currency received into your Multi-currency Account will be credited in that Supported Currency. If the funds received are not in a Supported Currency, then Statrys shall convert such funds into one of the Supported Currencies with the prevailing market rate.

7.2 The receipt of funds into your Multi-currency Account is subject to compliance with our policies or Applicable Law. Statrys reserves the right to reject or return any incoming funds that do not comply with our policies or Applicable Law.

7.3 You are responsible for providing the correct details of your Multi-currency Account to any third parties sending you funds. Statrys is not responsible for any delays or errors resulting from incorrect account details provided to third parties

7.4 If payment into your Multi-currency Account is made by any method which needs clearing and settlement, or through domestic or international transfer of funds, we do not have to credit your Multi-currency Account before we actually receive the funds. You shall not have any right to or interest in any incoming funds into your Multi-currency Account until we receive them in cleared funds.

7.5 If Statrys credits funds to your Multi-currency Account, and the transaction is subsequently set aside or revoked, Statrys shall be entitled to debit your Multi-currency Account with the amount previously credited together with any other charges and Fees as Statrys may impose.

8. Payouts Services

8.1 You can initiate Payouts from your Multi-currency Account through the Statrys Dashboard. To set up a Payout, you must provide all necessary information as prompted, including but not limited to the payee’s full name, bank account details, and the amount and currency of the Payout. You are responsible for ensuring the accuracy of all information provided for Payouts.

8.2 Statrys supports various Payout methods, which may include bank transfers, internal transfers to other Statrys accounts, and other methods as specified on the Statrys Dashboard. Available Payout methods and currencies may vary depending on the payee’s location and other factors. Statrys reserves the right to add, modify, or remove Payout methods at any time without prior notice.

8.3 If a Payout requires currency conversion, Statrys will display the Indicative FX Rate before you confirm the transaction. Exchange rates are determined by Statrys based on prevailing market rates and may include a margin. The FX Conversion terms and conditions stipulated in Clause 9 shall apply here.

8.4 Fees for each individual Payout will be clearly displayed before you confirm the transaction. Fees may vary based on the Payout method, destination country, currency, and other factors.

8.5 Statrys may impose limits on Payout amounts, frequency, or cumulative value over a period. Limits may be based on factors such as your account status, verification level, and regulatory requirements. Statrys reserves the right to delay or refuse any Payout that exceeds these limits or raises compliance concerns.

8.6 The time it takes for the payee to receive funds transferred from your Multi-currency Account may vary depending on the payee’s bank or payment service provider. Statrys is not responsible for any delays caused by the payee’s financial institution or any intermediary banks involved in the Payout process.

8.7 You may request Statrys to Cancel a Payout before it has been processed by Statrys. Once a Payout has been processed, it may not be possible to Cancel the transaction. If Cancellation is possible, it may be subject to fees and currency exchange rate fluctuations.

8.8 If a Payout fails or is rejected, Statrys will make reasonable efforts to notify you promptly.  Funds from failed or rejected Payouts will be returned to your Multi-currency Account. Any fees incurred for the failed Payout may not be refundable, and additional fees may apply for returning the funds.

8.9 Statrys may require additional verification or information for certain Payouts as part of our compliance and security procedures. Statrys reserves the right to delay, block, or refuse any Payout that we reasonably believe may violate Applicable Law or our Acceptable Use Policy. You agree to cooperate with any inquiries related to Payouts and to provide any additional information or documentation that Statrys may reasonably require.

8.10 You are responsible for providing accurate and complete payee information for all Payouts. Statrys is not liable for any loss or delay resulting from you providing incorrect or incomplete Payout instructions.

8.11 If you request Statrys to conduct a Recall, we will make reasonable efforts to do so, but cannot guarantee success. Any costs incurred in recalling or tracing a Payout will be borne by you and may be deducted from your Multi-currency Account. If a Recall is successful, the returned amount may be less than the original Payout amounts due to fees and exchange rate fluctuations.

9. FX Conversion

9.1 Statrys offers FX Conversion allowing you to exchange funds between Supported Currencies within your Multi-currency Account. FX Conversions can be executed immediately, subject to availability. You may convert currency as part of a transfer to a third party, within your Multi-currency Account, or when receiving funds in a currency that is not a Supported Currency.

9.2 A list of Supported Currencies for FX Conversion is available on the Statrys Dashboard.  Statrys reserves the right to add or remove Supported Currencies at any time, with reasonable notice provided to Customers.

9.3 FX Conversion rates are provided in real-time through the Statrys Dashboard when you initiate a conversion. Exchange rates are subject to change rapidly due to market conditions, and the rate applied will be the rate in effect at the time of executing the conversion and displayed to the Customer before confirmation of the order.

9.4 Statrys may impose minimum and maximum limits on FX Conversion amounts. Limits may vary based on factors such as currencies involved, your account status, and market conditions. Statrys reserves the right to adjust these limits at any time, with notice provided where possible.

9.5 You must have sufficient funds in your Multi-currency Account to cover the full amount of any FX Conversion (including fees). Statrys may decline your instructions if you have insufficient funds or if you exceed any applicable limits. The amount specified in the FX Conversion confirmation becomes due and payable to Statrys on the date specified in the confirmation.

9.6 In the event of market disruption, Statrys may revise or suspend FX Conversion for affected currency pairs. If an FX Conversion is executed at a rate that clearly and materially deviates from the market price due to a technical error, Statrys may declare the conversion void and process it at the correct rate pursuant to its general right to address errors and system failure,

9.7 FX Conversions involve risks due to exchange rate fluctuations. You are responsible for assessing the suitability of any FX Conversion for your needs and financial situation.

9.8 Statrys may monitor FX Conversion activities to ensure compliance with Applicable Law and our policies. We may request additional information or documentation to support your instructions for FX Conversion. Statrys reserves the right to refuse or limit FX Conversions that we believe may violate Applicable Law or our policies.

10. Interest, Fees, and Charges

10.1 No interest will accrue or be payable to you in respect of the amounts standing to the credit of your Multi-currency Account.

10.2 You must pay all Fees, charges (including foreign-exchange commission or charges), costs, expenses and commissions in relation to your Statrys Account and our Services (including those facilitated or effected by other entities of the Statrys Group) at the rates which apply at that time.

10.3 Statrys may charge and debit your Multi-currency Account for Services or other out of pocket costs and expenses incurred by Statrys in relation to the opening, maintenance and operation of your Statrys Account in accordance with its fee arrangements.  Such fees, costs, expenses and charges will be published on the Website or otherwise notified to you,   and be subject to change at Statrys discretion.

10.4 All payments to be made to Statrys shall be in full, without set off or counterclaim and free of any deductions of any kind on account of taxes, including where applicable goods and services, value added and/or withholding taxes. Accordingly, Statrys shall be entitled to gross up its invoices to include applicable taxes.

11. Transaction Screening

11.1 You acknowledge, agree and accept that Statrys may take such steps and require such information from you as Statrys deems necessary to verify and authorize three key aspects when you submit or attempt to submit an Electronic Instruction or otherwise operate your Statrys Account or Services:

1. the source of funds in your Multi-currency Account or to be credited to your Multi-currency Account;
2. the identity and location of the recipient of the funds to be debited from your Multi-currency Account; and/or
3. the purpose of any other transaction relating to your Statrys Account and/or the Services.

11.2 Statrys reserves the right to halt or refuse to execute any Electronic Instruction until verification is completed to our satisfaction.

11.3 Any transaction screening and verification check that we (and, if applicable, any other Affiliated Entities) perform may increase the time it takes to process your Electronic Instruction. You agree and accept that Statrys shall not be responsible or liable to you or any party for any losses, claims, damages, fees, costs, expenses or delays that may arise in connection with any such transaction screenings and verification checks.

12. Your Responsibilities

12.1 It is your responsibility to do the following:

1. Keep secure and confidential your password or any identification we provide you which allows access to the Statrys Account and use of any of the Services.
2. Keep your device’s browser, operating systems and anti-virus software (where applicable) up to date in order to ensure that your access to the Statrys Account is secure. 
3. Only use an access point or device which you are authorised to use to access the Statrys Account and any Services.
4. Monitor your Statrys Account and promptly report to us any unauthorised payments or transfers from your Statrys Account or of any suspicious matter to do with your Statrys Account.
5. Promptly tell us in writing about any change in your postal address, phone number, fax number or email address that we use to communicate with you, or any relevant change to any of your information we have in our records (including the identities of your authorised users and their respective scope of authority in relation to your Statrys Account). You must also send us any documents we need to support this change. We will need at least seven (7) Business Days from receiving this information to change our records, after which the updated change will apply.
6. Take reasonable care and precautions and have adequate internal-control procedures and security arrangements to prevent fraud, forgery or other unauthorised use of your Statrys Account and the Services.
7. Tell us immediately if you become aware of any actual or suspected fraud, forgery or other unauthorised use of your Statrys Account or any other matter concerning your Statrys Account and the Services that you think looks suspicious, and provide relevant information to us so that we can investigate the matter.
8. Ensure that your representatives and Authorised Users are aware of and comply with the terms of this Services Schedule at all times.

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13. Termination and Suspension      

13.1 You may stop using the Services and/or close your Statrys Account at any time by giving us instructions to do so and in accordance with the Terms.  Statrys may restrict, freeze, terminate or suspend your Statrys Account at any time without reason or notice in accordance with the Terms.

13.2 When your Statrys Account is terminated or suspended, we may at our discretion suspend or end all Services in connection with your Statrys Account.

13.3 Upon the termination of your Statrys Account, any accrued liabilities and all obligations under this Services Schedule will remain continuing and we shall remain entitled to debit from your Statrys Account any amount outstanding and owing to us, including any overdrawn amounts (if any), costs, expenses, Fees, commission, charges and payments owing from transactions carried out before the termination of your Statrys Account, and any other charges you owe on your Statrys Account.

13.4 The rights conferred on Statrys under this Clause 13 shall survive termination.

14. Set Off and Consolidation

14.1 If you owe us any money, Fees, interest, commission, costs, tax, charges or other amounts (whether due immediately or later, whether liquidated or unliquidated), or if we for any reason deem any transfer to be fraudulent, or if we need to reverse any transactions, we have the right, at any time, without giving you notice, to set off and deduct from any of your Multi-currency Accounts the amount owed, even if this would make your Multi-currency Account(s) overdrawn. To do this, we may also combine or consolidate all or any of your Statrys  Accounts with us, whether your Statrys Accounts are held in your name only or jointly with others. If we need to convert currency, we will do so using our currency exchange rate in force at the time at our discretion.

14.2 Statrys is entitled to apply any and all payments it receives from or for your Statrys Account in such manner and order and to such transaction as it may determine or select regardless of any specific appropriation made by you or any person making such payment(s).

15. Singapore - Jurisdiction-Specific Terms 

15.1 Statrys is not a bank. Statrys does not conduct any banking business and does not provide any regulated banking services in Singapore within the remit of the Banking Act (Cap 19, 2008 Rev Ed). Therefore, Customer funds are not covered under the Singapore Deposit Insurance Scheme. 

15.2 The following applies in relation to the safeguarding and segregation of your Statrys Account:

1. Statrys maintains all Customer funds in dedicated virtual accounts (“ Segregated Accounts”) held with approved financial institutions. Customer funds in these Segregated Accounts are always held separately from Statrys’s operational funds, and Statrys cannot use client funds held in Segregated Accounts to finance its business operations. 
2. In compliance with the Payment Services Act 2019 of Singapore (“ PSA”), Statrys holds the Customer funds defined under the PSA as “Relevant Money” on behalf of the Customer in a designated Segregated Account held at an approved financial institution in Singapore for the purposes of safeguarding (“ Safeguarding Institution”). Relevant monies are held in trust by the Safeguarding Institution in pooled accounts with other Statrys Customer funds. The Safeguarding Institution has designated the account as a Segregated Account, which is held separately from any other account maintained by Statrys with the Safeguarding Institution for its own funds. 
3. Statrys selects reputable financial institutions in Singapore to act as Safeguarding Institutions per the requirements of the PSA. The Customer funds are held in the Supported Currencies.
4. In the unlikely event Statrys becomes insolvent, relevant monies held in the Segregated Accounts with the Safeguarding Institution cannot be claimed by Statrys or its creditors. Customers would be able to claim their funds from the Segregated Accounts. Relevant monies may not be returned in full in the unlikely event of the Safeguarding Institution becoming insolvent.  
5. The Customer’s funds held in the Segregated Accounts do not earn interest.      

16. Definitions and Interpretations

In this Services Schedule, capitalized terms shall have the meaning set out in this Clause 16:

“ Cancel” or “ Cancellation” means the act of requesting Statrys to stop a Payout before it has been processed. Cancellation is only possible during the brief window between when you submit an Electronic Instruction for Payout and when Statrys begins processing it. Once Statrys has started processing the Payout, cancellation is no longer possible, and any attempt to stop the Payout would be considered a Recall.

“ Collection” has the meaning given in Clause 3.2.

“ FX Conversion” has the meaning given in Clause 3.4.

“ Indicative FX Rate” has the meaning given in Clause 6.5.

“ Multi-currency Account” has the meaning given in Clause 3.1.

“ Services” has the meaning given in Clause 3.     .

“ Payout” has the meaning given in Clause 3.3.

“ PSA” has the meaning given in Clause 15.2(b).

" Recall" means the act of requesting Statrys to attempt to retrieve funds from a Payout that has already been processed and sent. A Recall is initiated after Statrys has processed the Payout and the funds have left Statrys's system.

“ Safeguarding Institution” means a bank or financial institution approved by Statrys to hold Segregated Accounts for the safeguarding of Customer funds.

“ Segregated Accounts” means the bank accounts held by Statrys with Safeguarding Institutions, separate from Statrys own funds, for the purpose of safeguarding Customer funds.

“ Supported Currency(ies)” means the currencies in which Statrys allows you to hold, convert, send, or receive funds through the Multi-currency Account, as specified on the Statrys Dashboard, which can be discontinued or updated from time to time by Statrys.

“ Supported Jurisdictions” means the jurisdictions from or to which Statrys allows you to collect or pay out funds from your Multi-currency Account.