Latest update: December 01, 2024
InstaDimes s.r.o. ("us" or "we" or "our" or "InstaDimes", “Insta Dimes”) is a company incorporated under the laws of Czech Republic, with a registered office at Příčná 1892/4, Nové Město, 110 00 Praha 1. Registration Number: 086 57 785. Contact e-mail: info@instadimes.com.
Please read the Terms & Conditions set out here in (the "Terms & Conditions") carefully before using the services provided by us.
1.1. In these Terms & Conditions, "you", "your", "Client", “Instadimer”, means the person who uses the Website or the Services.
1.2. By using our services, you agree that we may collect and use your personal information in accordance with the Privacy Policy, which outlines how we process and protect your personal data. The collection and use of personal information may be for purposes such as verification, processing of transactions, and compliance with applicable regulations.
1.3. When you use the Website or any of our Services, the Terms & Conditions shall apply to you.
1.4. By using the Website and Services, you agree to be bound by these Terms. If you do not agree with these Terms, please refrain from using our Services or Website.
1.5. Before engaging in any actions related to the use of our Services and Products, please consider the risks of conducting transactions and dealings with Virtual Currencies. The Risk Statement, disclosing the risks associated with the use of Virtual Currencies, is available in the Risks section of these Terms & Conditions.
1.6. InstaDimes s.r.o. is not a financial, tax, or legal advisor and shall not be perceived as such. Any information and statements mentioned in our legal documents, including these Terms & Conditions , as well as on our website, digital goods, applications, and other forms of media containing such information, should not be used as professional financial, tax, or legal advice. Before engaging with our Services and Site, it is strongly recommended to consult professional advisors in the relevant fields in order to be fully aware of the risks, benefits, and nature of the relationship with us.
1.7 Any formal communication with you will be undertaken through electronic mail, unless otherwise instructed. you will also be able to contact us through official communication channels such as Telegram, WhatsApp, and others. Official links to communication channels are provided on the website.
1.8 Any formal communication with you will, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the English language version of the Terms & Conditions or any such communications and any translation of the Terms & Conditions or such communications (as applicable) in a foreign language, the respective English version shall prevail.
2.1 We reserve the right to change these Terms & Conditions and other applicable terms in the future. Any alterations and amendments will be published on our website. Before entering in a contractual relationship with us or executing any further transactions, you should get acquainted with the latest version of these Terms & Conditions first.
2.2 If you have any questions or inquiries about this documents, please contact us via contact form at website instadimes.com or by writing to e-mail: info@instadimes.com.
3.1. We provide services for the exchange of USDC or other virtual currencies to FIAT currency through crypto exchanges such as Binance, Bybit, and others.
3.2. The rate at which we sell or purchase cryptocurrency shall be quoted in FIAT currency as determined by InstaDimes.
3.3. By using the Services, you agree that we may require certain personal information, such as your name and contact details, for verification purposes in accordance with Section 4 below. You also understand that these data will be saved on our systems to process all transactions done through this service provider.
3.4. By using the Services or Website, you affirm that your actions comply with all applicable laws and regulations.
3.5 By using our services, you agree that we may terminate our relationship with you, even if a FIAT currency transfer has been made to our bank account, if it is determined that the transaction cannot be completed for any reason (including but not limited to insufficient funds, technical issues, or failure to meet compliance requirements). In such cases, we reserve the right to cancel or reverse the transaction, and any funds received may be returned, subject to applicable fees and conditions, as outlined in the Fees and Charges section.
4.1 During the first connection with us, we will require all users to go through the verification process in Sumsup. The verification process may vary depending on the amount of the transaction you wish to conduct with us.
For transactions under 1,000 euros, we request basic KYC verification. This includes providing a Proof of Identity from one of the following documents: ID card, Passport, Residence permit, or Travel document (not older than 3 months). If you provide a Travel document, we will also ask for a Proof of Address document. Acceptable documents include a bank letter, bank statement, mortgage payment, internet bill, etc.
For transactions between 1,000 euros and 15,000 euros, we require answers to two important questions:
We cannot provide services to individuals who are on PEP lists or any sanctions list. Additionally, Proof of Identity is required as part of this verification process.
For transactions over 15,000 euros, we request the following:
This type of transaction will be reviewed manually.
4.2 In compliance with Act No. 253/2008 Sb. of the Czech Republic on Selected Measures against the Legitimisation of Proceeds of Crime and Financing of Terrorism, we require all users to undergo Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) checks. This includes providing accurate and verifiable information as outlined in Section 4.1.
In cases of high-risk transactions or suspicious activities, we reserve the right to request additional documents and conduct enhanced due diligence. If we identify or suspect non-compliance, we are obligated to report such cases to the Financial Analytical Office (FAU) of the Czech Republic.
4.3 Definition of PEP: a Politically Exposed Person (PEP) is an individual who holds or has held a prominent public position, such as:
Policy on PEPs:
In compliance with AML/CTF regulations, InstaDimes does not provide services to
individuals identified as PEPs, their immediate family members, or close associates. If a user
is determined to be a PEP or associated with one during the verification process, their request
to use our services will be denied.
5.1 If you are not at least 18 years old (or older, in some cases), you affirm that you are legally able to enter into a contract and that the registration information you provide is accurate and truthful.
5.2 You may not use the Services and/or the Website if you are located or are a resident of a geographic area in which access to or use of the Services, the Website is prohibited by applicable law, decree, regulation, treaty, or administrative act, including without limitation the following territories:
Kuwait, Qatar, Serbia, Bahrain, Bangladesh, Egypt, Ethiopia, Jordan, Lebanon, Libya, Mali, Mauritius, Morocco, Oman, Somalia, Sri Lanka, Trinidad & Tobago, Afghanistan, Democratic Republic of Korea (North Korea), South Sudan, Sudan, Yemen, Iran, Iraq, Occupied Palestinian Territories, Pakistan, Syria, Vanuatu, Russia Federation nationals, Ethnic groups of Caucasus belonging to Russian Federation (Chechens, Lesgins, Ossetians, Ingushes, etc.) (the "Restricted Territories").
Certain partial restrictions may apply to additional geographic areas, as shall be notified by us from time to time. The Restricted Territories list may change from time to time for reasons which include but are not limited to licensing requirements and any other legal and regulatory changes.
5.3 Without derogating from Section 5.2, you shall not use the Services where it is prohibited by law or regulation.
5.4 Users identified as Politically Exposed Persons (PEP), or their close associates and family members, may be subject to further scrutiny and restrictions in compliance with AML/CTF regulations. For more details on how PEPs are treated, please refer to the Verification section above.
6.1 The company will not consider any claims or disputes once 7 days have passed since the transaction. If you believe we did not meet our obligations to your customer, please reach out to their support team at info@instadimes.com with all relevant details, and we will investigate the matter promptly.
6.2 Resolution Process
If you believe we did not meet our obligations, you may submit a
dispute
to info@instadimes.com with all relevant details.
6.3 Arbitration and Consumer Protection
If the issue is not resolved within 21 business
days, the
matter may be escalated as follows:
7.1 Transparency of Fees
At present, InstaDimes does not charge any fees for the exchange
of
virtual currencies or fiat currency transactions. However, please note that any transactions on
third-party platforms (such as exchanges) may be subject to their own fees, which are separate
from the services we provide.
7.2 Refund Fee:
In the event that funds are returned to your account, a flat fee of €5 will
apply
to cover transaction processing costs.
All fees, if applicable, will be disclosed to you before any transaction is confirmed. For further clarification, please feel free to contact us directly.
8.1 We take your privacy seriously. For detailed information on how we collect, use, store, and protect your personal data, please refer to our Privacy Policy. Our Privacy Policy outlines your rights under the General Data Protection Regulation (GDPR), including access, rectification, erasure, data portability, and data retention details.
8.2 If you have any questions regarding the processing of your personal data or to exercise your GDPR rights, please contact us at info@instadimes.com. We aim to process all requests within 30 days.
9.1 The use of virtual currencies involves a high degree of risk. By using our services, you acknowledge and agree to the following key risks, but not limited to: Additionally, InstaDimes shall not be held liable for delays or failures to fulfill its obligations caused by circumstances beyond its reasonable control, including but not limited to: Natural disasters (earthquakes, floods, storms). Technical failures (server issues, cyberattacks, power outages). Government actions (regulatory changes, sanctions). During such events, services may be suspended until the issue is resolved. You are solely responsible for ensuring the security of your personal information, funds, and transactions. InstaDimes shall not be liable for any losses resulting from: Incorrect information provided by the user. Unauthorized access due to user negligence (e.g., sharing sensitive information). 9.2 Market volatility or external disruptions.
