Terms of Service

Primary Entities

• Primary Entity: iBnk Vault LLC (Wyoming, USA)
• Technical Processing Entity: Intellifusion Pty Ltd (Australia)
• Service Scope: Global travelers visiting APEC economies and APEC-based merchants

Introduction

iBnk provides financial infrastructure services but does not directly hold or control customer funds. All funds are held by licensed banks or regulated custodial platforms like Fireblocks.

Section 1: Eligibility and Account Security

1.1 Partnership Requirement

Services are delivered through authorized partners; users need an active partner account to open an iBnk account.

1.2 Eligibility Requirements

Users must be 18+, have legal capacity, possess a valid partner account, and comply with KYC/AML procedures.

1.3 Restricted Regions

iBnk reserves the right to restrict service provision in certain jurisdictions without advance notice.

1.4 Identity Verification

iBnk collects personal and business data including name, address, date of birth, government ID, and source of funds documentation.

1.5 Account Security

Users are responsible for protecting credentials and must report unauthorized activity immediately. iBnk is not liable for losses resulting from your account security lapses.

Section 2: Wallets and Virtual Accounts

2.1 Wallet Creation and Custody

Wallets are custodied by regulated third parties like Fireblocks; users don't have direct private key access.

2.2 Virtual Accounts

Multi-currency virtual accounts created for settlement don't constitute real bank accounts; balances represent custodian-held assets.

2.3 Linked Accounts and Wallets

Users must provide a controlled personal bank account and stablecoin wallet address and monitor them for unauthorized activity.

2.4 Compliance Monitoring

Transactions may be delayed, refused, or suspended if flagged during KYC/AML/CTF compliance reviews.

Section 3: Information Sharing and Payment Partners

3.1 Consent to Information Sharing

Information may be shared with partners, payment providers, stablecoin issuers, regulatory authorities, and fraud monitoring services.

3.2 API Access and Authorization

Partners can use iBnk APIs to create accounts and execute transactions on users' behalf.

3.3 Payment Partners

iBnk works with licensed banks, custodians, payment processors, and blockchain infrastructure providers to facilitate custody, settlement, and compliance.

3.4 Regulatory Disclaimer

iBnk is not a licensed money transmitter. All regulated activities are performed by authorized partners under their licenses.

Section 4: Account Suspension and Termination

4.1 Customer Termination

Users may close accounts anytime via their partner account.

4.2 Partner Freezing

Partners may freeze accounts for suspected fraud, money laundering, terrorism financing, or illegal conduct.

4.3 iBnk Termination Rights

iBnk may suspend or terminate any account at its discretion with notification efforts.

Section 5: Supported Assets and Blockchain Risks

5.1 Supported Assets

• Fiat currencies: AUD, USD, SGD, JPY, HKD, etc.
• Stablecoins: AUDD, XSGD, JPYC, USDC (issued by regulated entities)

5.2 Blockchain Disclaimer

iBnk doesn't operate blockchains; forks or protocol changes may affect transactions.

5.3 Risk Acknowledgment

Users accept all risks including market volatility, regulatory changes, and technical failures. iBnk is not liable for losses due to third-party blockchain, custodian, or issuer issues.

Section 6: Acceptable Use and Business Restrictions

6.1 Prohibited Businesses

iBnk will not onboard politically exposed persons or certain prohibited business types.

6.2 High-Risk Businesses

MSBs, casinos, and gambling operations require manual review and AML policy submission.

Section 7: Governing Law and Dispute Resolution

• Governing Law: Wyoming State law and applicable U.S. federal law
• Dispute Resolution: Exclusively in Wyoming arbitration or courts. Proceedings are conducted in English.
• Interim Relief: Either party may seek temporary injunctive relief from Wyoming courts