Region specific Terms - Singapore
Effective from 15 September 2026
1. Supplement to the Master Terms
1.1. Supplement. These Region Specific Terms for Statrys Singapore Pte. Ltd. (“Singapore Terms”) supplement the Master Terms relating to the use of the Basic Services. These Singapore Terms, together with the Master Terms, govern the use of Basic Services by you, where you are a Statrys Singapore Customer. Unless otherwise defined in these Singapore Terms, all capitalised terms have the meaning given in the Master Terms.
1.2. Effect. You agree that these Singapore Terms supplement the Master Terms and the terms set out in these Singapore Terms will have immediate effect. Except as specifically set out in these Singapore Terms, the Master Terms remain unmodified and in full force and effect
1.3. Conflict of terms. These Singapore Terms will prevail over the Master Terms to the extent of any inconsistency. Please read these Singapore Terms and the Master Terms carefully.
1.4. Consistent references. For ease of reference, the same headings and titles of the sections in these Singapore Terms follows the headings and titles of the clauses of the Master Terms which are being amended, to the extent that it amends an existing clause.
1.5. Prior terms replaced. With effect from the date specified in the notice given to you (or, if no date is specified, the effective date stated at the top of the Master Terms), the Master Terms and these Singapore Terms replace the Statrys Singapore Master Service Agreement and Services Schedule previously published on the Website, and any reference to those documents shall be read as a reference to the Master Terms and these Singapore Terms
2. Scope of the Singapore Terms
2.1. Statrys Singapore Customers. These Singapore Terms apply to the Basic Services offered to you, a Statrys Singapore Customer. These Singapore Terms are legally binding on you. You are responsible for ensuring that each User reads and understands these Singapore Terms.
2.2. Contracting entity. The Basic Services are offered to you by Statrys Singapore Pte. Ltd. (UEN 202202124M), which is a company incorporated in Singapore and whose registered office is at 110 Robinson Road, #08-00, Singapore 068901. Statrys Singapore Pte. Ltd. is licensed by the Monetary Authority of Singapore (“MAS”) as a major payment institution under the Payment Services Act 2019 of Singapore (“PSA”).
2.3. We are not a bank. Statrys Singapore Pte. Ltd. is not a bank, does not conduct any banking business and does not provide any regulated banking services in Singapore within the remit of the Banking Act 1970 of Singapore. Using the Basic Services is not the same as depositing funds and making transfers to and from a bank account. Your Virtual Business Account is not a bank account and does not have any features or functions of a savings, current or multi-currency bank account. Your funds are not covered by the Singapore Deposit Insurance Scheme.
3. Services
3.1. The Basic Services are provided to you as described in the Schedules to the Master Terms, as amended and supplemented by these Singapore Terms.
4. Fees
4.1. Fee payment. You must pay us all applicable Fees before the due date, as set out on our pricing page. All amounts payable to us shall be paid in full, without set-off, counterclaim, deduction or withholding of any kind on account of taxes (including goods and services tax), unless prohibited by Applicable Laws. Taxes imposed on the Fees, if any, are your responsibility and will be paid by you.
5. Other legal bits
5.1. Governing Law. These Singapore Terms and the Master Terms (to the extent that they relate to you) shall be governed by the laws of Singapore.
5.2. Disputes. You hereby submit to the exclusive jurisdiction of the courts of Singapore with respect to any claim or dispute concerning or arising from these Singapore Terms, the Master Terms or any transactions in connection with the Statrys Services. You hereby waive any immunity or objection which you may now or hereafter have to the courts of Singapore being the forum to hear, determine and settle any dispute, and you agree not to claim that any such court is an inconvenient or inappropriate forum. Nothing in this clause shall limit our right to take proceedings in any other court of competent jurisdiction or in any other jurisdiction.
5.3. Service of process. We may serve any legal process or document in respect of any action or proceedings arising out of or in connection with these Singapore Terms or the Master Terms by leaving the same at, and/or sending the same by ordinary post to, your last known address (whether within or outside Singapore and whether such address is a post office box or a place of residence or business), as provided or disclosed to us. To the fullest extent permitted by law, you agree that such legal process or document is deemed to have been duly served on you even if it is returned undelivered: (a) on the date of delivery, if delivered by hand and/or left at that address; or (b) on the date immediately following the date of posting, if sent by post. Nothing in this clause affects our right to serve legal process in any other manner permitted by law.
5.4. No third-party benefit. These Singapore Terms do not intend to confer any benefit on any third party and no third party shall have the right to enforce these Singapore Terms under the Contracts (Rights of Third Parties) Ordinance (Chapter 623 of the laws of Singapore) or otherwise.
5.5. Class waiver. To the fullest extent permitted by law, you agree that any dispute arising out of or in connection with these Singapore Terms or the Master Terms will be conducted only on an individual basis and not in a class, consolidated or representative action, and you knowingly and irrevocably waive any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to these Singapore Terms or the Master Terms or any of the transactions contemplated between you and us.
6. Amending these Terms
6.1. For the avoidance of doubt, these Singapore Terms may be amended as set out in the Master Terms.
7. Your funds
7.1. How we hold your funds – safeguarding under the PSA. We hold your funds only for the purpose of providing the Basic Services and only until your Payment, Exchange and other instructions are executed and settled, and we repay them at their face amount, without any premium or other return. In compliance with the PSA, we hold customer funds which constitute “relevant money” under the PSA on your behalf in one or more designated segregated accounts held with financial institutions in Singapore for the purposes of safeguarding (each such institution, a “Safeguarding Institution”, and each such account, a “Segregated Account”). Relevant money is held on trust in Segregated Accounts, which may be pooled accounts containing relevant money or our other customers. Each Segregated Account is designated as such and is held separately from our own funds and from any other account maintained by us with the Safeguarding Institution for our own funds, and we cannot use funds held in Segregated Accounts to finance our business operations. We select reputable financial institutions in Singapore to act as Safeguarding Institutions in accordance with the requirements of the PSA. Customer funds are held in the Supported Currencies.
7.2. Insolvency and commingling. In the unlikely event that we become insolvent, relevant money held in the Segregated Accounts with a Safeguarding Institution cannot be claimed by us or our creditors, and you would be able to claim your funds from the Segregated Accounts. However, relevant money may not be returned in full in the unlikely event of the Safeguarding Institution itself becoming insolvent. Your relevant money may be commingled in a Segregated Account with relevant money received by us from our other customers. We will maintain records of each customer’s entitlement to the relevant money held on their behalf but, in the event of a shortfall in a Segregated Account, it may not be possible to identify or isolate the specific portion of the commingled funds belonging to you, which may delay or reduce the amount that you are able to recover.
7.3. No interest. No interest will accrue or be payable to you in respect of any funds standing to the credit of your Virtual Business Account (including funds held in Segregated Accounts) or held with, or routed through, the institutions described in clauses 7.4 and 7.5. If any interest arises on those funds, it belongs to, and is retained by, Statrys Singapore Pte. Ltd. for its own account.
7.4. The institutions we use. In providing the Basic Services (including our provision of Virtual Business Accounts denominated in foreign currencies and cross-border money transfer services), we may hold, move, route, clear and settle funds through (a) correspondent account arrangements with other entities of our corporate group, (b) Safeguarding Institutions, and (c) other banks and third- party financial institutions used to hold, route, clear or settle funds (including other payment service providers), whether located in or outside Singapore, in connection with your Statrys Account. The Collection Instructions we assign to you may relate to accounts we hold with such institutions in or outside Singapore. We exercise reasonable care, skill and diligence in selecting, appointing and periodically reviewing these institutions, having regard to factors including their expertise, licensing status and market reputation. Without limiting clause 11 of the Master Terms, we are not responsible for the acts, omissions, delays or insolvency of any such institution that is not a member of our corporate group, except to the extent that such liability cannot be excluded under Applicable Laws. This does not affect our safeguarding obligations under clause 7.1 or our obligation to repay your funds at their face amount.
7.5. Cross-border Payments. Any institution in the payment chain for a cross-border Payment (which may include the institutions described in clause 7.4 as well as other correspondent and intermediary banks) may deduct its own fees and charges from the amount transferred, so the payee may receive less than the amount you instructed, and may delay, return or decline a Payment, or require further information, in order to comply with Applicable Laws or its own compliance and sanctions requirements. You acknowledge that cross-border money transfers you wish to make from, or receive into, your Virtual Business Account are subject to the applicable terms and conditions of the relevant members of our corporate group or Providers providing the cross-border money transfer service, as set out on the Statrys Dashboard or otherwise notified to you.
8. Personal data
8.1. PDPA. We will collect, use and disclose personal data in accordance with the Personal Data Protection Act 2012 of Singapore and our Privacy Policy. Without limiting clause 14 of the Master Terms, you agree that we may transfer your and your Users’ data to any Provider, payment intermediary, bank, financial institution and any entity of our corporate group, whether in or outside Singapore, for the purposes of facilitating, effecting and/or processing your Payments, Exchanges and related transactions and providing you with the Statrys Services. Where you provide us with personal data of another individual (including your Users, directors, shareholders, partners and ultimate beneficial owners), you confirm that you have obtained that individual’s consent to the collection, use and disclosure of their personal data for these purposes. You must also make available to each such individual the relevant provisions of the Master Terms, these Singapore Terms and our Privacy Policy, so that they understand how their personal data may be collected, used and disclosed by us.
8.2. Data protection contact. You may submit any question or request regarding personal data to us at 110 Robinson Road, #08-00, Singapore 068901 (Attention: Data Protection Officer) or via email at dpo@statrys.com.
9. Financial crime compliance
9.1. Payment information. To meet our obligations under Singapore anti-money laundering and countering the financing of terrorism law (including the applicable notices issued by MAS under the PSA), information identifying the payer and the payee is transmitted with each Payment and may be shared with the banks and other institutions that process the Payment and with competent authorities.
9.2. Anti-bribery and sanctions. You will (a) comply with all Applicable Laws relating to sanctions, bribery and corruption, including the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 of Singapore, the Prevention of Corruption Act 1960 of Singapore, the Terrorism (Suppression of Financing) Act 2002 of Singapore and any laws and rules based on the OECD Anti-Bribery Convention; (b) not do or omit to do anything likely to cause us to be in breach of any such Applicable Laws; and (c) maintain a programme designed to ensure compliance with them.
10. Definitions
“ MAS” means the Monetary Authority of Singapore.
“ PSA” means the Payment Services Act 2019 of Singapore, as amended from time to time, and includes any subsidiary legislation made under it.
“ Safeguarding Institution” means a bank or other financial institution in Singapore that is a safeguarding institution for the purposes of the PSA, with which we hold Segregated Accounts for the safeguarding of customer funds in accordance with the PSA.
“ Segregated Account” means a bank account held by us with a Safeguarding Institution, separate from our own funds, for the purpose of safeguarding customer funds in accordance with the PSA.
“ Singapore” means the Republic of Singapore.
“ Statrys Singapore Customer” and “ you” and “ your” means a company that is established in Singapore and such other jurisdictions as set forth in the column headed “Jurisdiction” in Schedule 1 of the Master Terms and that accepts these Singapore Terms.