Terms & Conditions

Thank you for using our Excalibur Financial Services which are governed by these Terms and Conditions. Please read them carefully.

1. ABOUT EXCALIBUR FINANCIAL

1.1. Excalibur Financial U.K. Limited is a company incorporated under the laws of England and Wales with company number 13137650 (“we”, “us”, “our” or “Excalibur Financial” as applicable) is an Authorised Representative (AR) of Immedi8 Services Limited an Authorised Payment Institution (API) authorised by the United Kingdom Financial Conduct Authority (“FCA”) under the Payment Service Regulations 2017 for providing payment services. Our FCA reference number is 943797.

1.2. Our registered office is 71-75 Shelton Street, London, Greater London, United Kingdom, WC2H 9JQ.

2. SCOPE OF THE TERMS AND CONDITIONS

2.1. These Terms and Conditions govern the availability and use of the Excalibur Financial Services. Together with our Privacy Policy, Cookie Policy, Commissions and Charges, and any other related terms and conditions, they constitute the legal relationship between you and Excalibur Financial(“Agreement”).

2.2. By registering to use the Excalibur Financial Services you agree to these Terms and Conditions. To the extent you use additional Excalibur Financial Services, you may have to accept additional terms and conditions as notified to you when you register for or use such Services.

2.3. Excalibur Financial, in its sole discretion, may change these Terms and Conditions and any additional terms and conditions that may apply, and it will post the changed Terms and Conditions in the relevant section of the Excalibur Financial website. You are responsible for regularly reviewing these Terms and Conditions. The changes will come into effect immediately unless otherwise specified in the notice of change. Any such change will not affect any transaction that was initiated prior to the effective date of such change. Your continued use of the Excalibur Financial Services after any changes to the Terms and Conditions shall constitute your consent to such changes.

3. GLOSSARY

3.1.  In these Terms and Conditions:

“API” means the application programming interface provided by Excalibur Financial.

“App” means the mobile application software provided by Excalibur Financial, along with the data supplied with such software and the associated media.

“Business Day” means a day other than a Saturday, Sunday or a public holiday in England when financial institutions are open for business.

 “Corporate Client” means a corporate entity who has a Excalibur Financial Account.

“Fees” means the charges payable by you to us for using our Services.

“Excalibur Financial Account” means the account you have opened with us in accordance with these Terms and Conditions and does not constitute a bank account or other financial instrument. Excalibur Financial Account includes customer information, transaction history and other information related to your use of the Excalibur Financial Services.

“Excalibur Financial Balance” means any amounts held in your Excalibur Financial Account.

“Excalibur Financial Customer Services” means our customer service, which you can reach by sending a message through the “Contact Us” facility on the website, by calling +44 (0) 207 816 9393 or via email on support@

“Excalibur Financial Services” or “Services” means all of our products, services and any other features, technologies, content and functionalities offered by us on our website or through other means.

“Excalibur Financial website” or “website” means the website available at www.Parrotpay.com.

“Privacy Policy” means Transfer Holding`s policy governing the processing of personal data and which is available on the website as may be amended from time to time.

“Terms and Conditions” means these Excalibur Financial terms and conditions published on the website and as may be amended from time to time. “We”, “us” and “our” mean Excalibur Financial. “You” and “your” means you the natural person or legal entity in whose name the Excalibur Financial Account is registered to.

4. EXCALIBUR FINANCIAL SERVICES

4.1. Excalibur Financial Services enable you to receive and make payments as well as spend, transfer and withdraw funds received from such payments.

4.2. Excalibur Financial is an independent contractor for all purposes and is not your agent or trustee, nor the agent or trustee of any payer that you receive payment from or payee that you affect payment to via Excalibur Financial Services. Excalibur Financial does not have control of, or liability for, the products, work or services that are paid for with Excalibur Financial Services. We do not guarantee or ensure that a buyer or a seller will complete a transaction and we make no representation or warranty as to any products, work and services provided or delivery thereof.

4.3. Excalibur Financial Services are provided in accordance with the laws of England and Wales.

4.4. Excalibur Financial Services may be available in different currencies, including British Pounds, Euros and other currencies offered by Excalibur Financial from time to time.

4.5. You may withdraw or transfer funds from your Excalibur Financial Account at any time to a bank account. However, you may be required to confirm your identity beforehand. There may be a minimum withdrawal or transfer amount, as well as threshold limits, as may be modified and disclosed from time to time. Sufficient funds must be available to cover any applicable Fees. You can choose from the approved methods of withdrawal when submitting your withdrawal request.

4.6. Excalibur Financial Account is not a bank account, nor does it offer the features and benefits of a traditional bank account. The funds held in Excalibur Financial Account do not constitute deposits and do not earn any interest. The funds are held by Excalibur Financial for your future use of Excalibur Financial Services. By accepting these Terms and Conditions you acknowledge that the United Kingdom’s Financial Services Compensation Scheme (FSCS) does not apply to funds held in connection with your Excalibur Financial Account. In the unlikely event that we become insolvent, your funds will be kept safe by being held on a specifically designated safeguarding account. Funds held on these accounts cannot be affected by liquidating nor be touched by administrators.  In addition to this, we strictly adhere to applicable requirements which are designed to ensure we have sufficient capital in the business.

4.7. The funds held by Excalibur Financial belong to the person or legal entity that is registered for the Excalibur Financial Services. No person or entity other than such registered user has any rights in relation to the funds held in Excalibur Financial Account. You may not assign or transfer your right to utilize the Excalibur Financial Services to a third party or otherwise grant any third party a legal or equitable interest in connection with your use of the Excalibur Financial Services.

4.8. The funds in your Excalibur Financial Account can be held for up to 90 (ninety) days. Upon lapse of this term the funds shall be returned to the account from which they were received from or paid to another account instructed by you provided that you serve us with any clarification and additional documents relating to such transfer.

4.9. The Excalibur Financial Services comprise the provision of a digital wallet, into which funds may be deposited and stored, and for which following related Services may be provided:

a) receive payments to your Excalibur Financial Account from companies and commercial enterprises;

b) receive payments to your Excalibur Financial Account from third parties via our merchant Services (e.g. through credit/debit cards);

c) make bank transfers from your Excalibur Financial Account to your local bank account via our withdrawal Service;

d) make payments from your Excalibur Financial Account to companies and commercial enterprises;

e) make payments from your Excalibur Financial Account to other registered Excalibur Financial users or to Corporate Clients;

f) view and manage your Excalibur Financial Account activity online through "My Account" facility on the Excalibur Financial website;

g) convert fiat funds to crypto funds via our partner;

h) any additional Services that are made available by Excalibur Financial from time to time.

4.10. The Excalibur Financial Services may be subject to certain limits and availability, which may depend on your country of residence, applicable regulations and other factors used by us to determine such limits and availability from time to time at our sole discretion. Only Services that you are eligible for will be available and accessible to you through “My Account” facility on the Excalibur Financial website.

4.11. Excalibur Financial strictly prohibits using the Excalibur Financial Services while impersonating any person or entity or falsely claiming an affiliation with any person or entity.

4.12. The Excalibur Financial Business Account is intended to enable payments for business-related and commercial activities and are not intended for personal or person-to-person use. By using the Excalibur Financial Services you also confirm that you will not accept payments in connection with any prohibited activities detailed in the Prohibited Transactions section of these Terms and Conditions.

4.13. Our Services associated with crypto funds are not regulated by the FCA. If you decide to convert your fiat funds to crypto funds though your Excalibur Financial Account or any Service associated with it you must be satisfied that the relevant transaction is suitable for you with regard to your financial circumstances and risk appetite. You should be aware that the value of crypto funds can rapidly decrease and entail substantial losses. Your funds received by us in relation to crypto fund transactions will not be covered or safeguarded by the Financial Services Compensation Scheme.

We make no representation regarding the advisability of transacting in crypto funds. Furthermore, we cannot guarantee the timeliness, accurateness, or completeness of any data or information used in connection with you holding any exposure to crypto funds.

5     ADDING FUNDS TO YOUR EXCALIBUR FINANCIAL ACCOUNT

5.1           To add funds, you need to log in to your Excalibur Financial Account and follow the steps as they appear on screen. We are not responsible for the money you have added until we have received it. For clarity, in an add funds transaction, we are the recipient of funds and not the payment service provider.

5.2           You may be presented with one or more methods to add funds, for example, bank transfer, credit cards or debit cards (in this Terms and Conditions, we will call these methods “Pay in Methods”). The number of Pay in Methods made available to you will depend on a number of factors including where you live and your verification status with us. Pay in Methods are not part of our Services, they are services provided by third parties for example, the card provider which issued you with your credit/debit card. We cannot guarantee the use of any particular Pay in Method and may change or stop offering a Pay in Method at any time without notice to you.

5.3           Any payment instrument (for example, the credit card or debit card) you use with your chosen Pay in Method must be in your name.

5.4           If you selected a Pay in Method which gives you chargeback rights (for example in relation to your credit card, you may ask your card provider to reverse a transaction on your card), you promise that you will only exercise this chargeback right if:

5.4.1      we have breached these Terms and Conditions; or

5.4.2      there was an unauthorised use of your payment instrument.

You promise that you will not exercise your chargeback right for reasons which we are not responsible, including a dispute with your recipient or if there are insufficient funds in your payment instrument. If we need to investigate or take any actions in connection with a chargeback raised by you, we may charge you for our costs in doing so and may deduct such amount from your Excalibur Financial Account.

5.5           For legal and security reasons, we impose limits on how much you can add into your Excalibur Financial Account.

5.6           We will credit your Excalibur Financial Account once we have received your money. For some Pay in Methods such as credit or debit card, we will credit the money to your Excalibur Financial Account as soon as possible subject to our right of reversal. This means if the actual amount you intended to upload does not reach us within a reasonable time, we may deduct such amount from your Excalibur Financial Account. If you do not have enough money in your Excalibur Financial Account for this purpose, we can demand repayment from you using other methods.

6     RECEIVING PAYMENTS TO YOUR EXCALIBUR FINANCIAL ACCOUNT

6.1           You can receive money into your Excalibur Financial Account using methods which we support from time to time.

6.2           Any money you receive into your Excalibur Financial Account will be recorded in the “Transaction History” section of your Excalibur Financial Account. You should check the incoming funds in your Excalibur Financial Account against your own records regularly and let us know if there are any irregularities.

6.3           You acknowledge that the money received in your Excalibur Financial Account ("Received Amount") may be subject to reversal and you agree that we may deduct the Received Amount from your Excalibur Financial Account if it was reversed by the person who paid you the Received Amount or any relevant payment service provider.

6.4           The receipt of payments will be subject to currency conversion and other fees, including processing fees, or intermediary fees which may be charged by your bank, a correspondent or intermediary bank or any other third-party payment service provider used to process the payment made by your bank account.

6.5           When you utilize the Excalibur Financial Services to receive payments to your Excalibur Financial Account, Excalibur Financial will process the payment to be credited to your Excalibur Financial Account in currency available to you and we will send you a notification email and display the payment in your “Transactions History” section of your Excalibur Financial Account. You should regularly reconcile incoming payments to your bank account with the email notifications received from us and your own records.

6.6           If the payment is made in the currency different than your Excalibur Financial Account, you authorise us to convert the amount according to the rate on that day; we will display the currency rate in your statement.

6.7           The time it takes for payments to reach Excalibur Financial is not in Excalibur Financial’ control. Most incoming payments are typically received within one (1) to three (3) Business Days, but may take up to five (5) Business Days or longer. If an incoming payment is not received within five (5) Business Days, we will initiate an investigation on your behalf if you so request. For such investigation we may require that you provide us with additional information associated with the expected payment. Incoming payments may also be subject to the terms and conditions of the entity sending the payment. Any issues or disputes associated with such terms and conditions should be resolved directly with the entity sending the payment and are not the responsibility of Excalibur Financial.

6.8           You may be required to provide us with additional information and documents prior to or in connection with incoming payments. Such additional information may include documents allowing Excalibur Financial to verify the source of the funds, including but not limited to invoices for services delivered for which you are being paid, and payment confirmation from the entity sending the funds. We may request additional information to enable us to comply with any applicable law or regulation. Such information will be used in conjunction with other information we have in connection with your use of the Excalibur Financial Services. Failure to provide such requested information may result in us reversing the payment. All information you provide us must be accurate and complete. If we cannot verify that this information is accurate, we may freeze such funds, limit your use of Excalibur Financial Services and take any other action to comply with any applicable law or regulation.

7     WITHDRAWING FUNDS FROM YOUR EXCALIBUR FINANCIAL ACCOUNT

7.1           After you log in to your Excalibur Financial Account, you may request all or part of your money held in your Excalibur Financial Account to be withdrawn. Press "Withdraw" and follow the steps as prompted on screen. We will charge you a Fee for each withdrawal request, we will let you know the exact amount when you submit your request. You can also find out more information about the Fees we charge on the “Commissions and Charges” page of the website.

7.2           You may be presented with one or more methods of withdrawal (in these Terms and Conditions, we will call these methods "Payout Methods"). The number of Payout Methods made available to you will depend on a number of factors including where you live and your verification status with us. We cannot guarantee the use of any particular Payout Method and may change or stop offering a Payout Method at any time without notice to you, but we will ensure that you will always have at least one Payout Method available to you.

7.3           Payout Methods are not part of our Services, they are services provided by third parties for example the bank where you hold your bank account. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.

7.4           When setting up your withdrawal request, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful.

7.5           You agree that your Excalibur Financial Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you to provide additional documents to us so that we can carry out additional checks before allowing the money to be withdrawn.

7.6           You agree that we are authorised to deduct our Fees, any applicable reversal amounts, and/or any amounts you owe us from your Excalibur Financial Account. If you don’t have enough money in your Excalibur Financial Account to cover these amounts, we may refuse to execute the relevant transaction or provide any Services to you.

8     MAKING PAYMENTS FROM YOUR EXCALIBUR FINANCIAL ACCOUNT

8.1           To set up a payment order via your Excalibur Financial Account, you need to provide certain information to us including (a) details of your recipient, (b) your recipient’s bank account details or their Excalibur Financial Account details and (c) amount to be transferred.

8.2           We may place limits on the amount you may send per transfer. For more information on the applicable limits, please visit our FAQ section of Excalibur Financial website.

8.3           If your payment order is received by us after 12pm on a Business Day or not on a Business Day, your payment order will be deemed received on the following Business Day.

8.4           Once we have received your payment order, we will send you a confirmation by email. Each payment order is given a unique transfer number and is shown in the “Transaction History” on your Excalibur Financial Account. You should quote this transfer number when communicating with us about a particular payment order.

8.5           You need to provide us with sufficient funds before we can process your payment order. We will only process your payment order if we hold or have received sufficient cleared funds in your Excalibur Financial Account, including funds to cover our Fees. It is your responsibility to fund your payment order in a timely manner. We cannot be responsible for the time it takes for the money to be sent to us by your bank or payment service provider.

8.6           We carry out verification checks, and these checks may increase the time it takes to process your payment order. We cannot be responsible for any delays as a result of carrying out those checks.

8.7           We will use reasonable efforts to ensure that the funds arrive in the recipient’s bank account or payment account within the timelines notified to you or otherwise specified in our FAQ section of Excalibur Financial website. We do not have any control over the time it may take for the recipient’s bank or payment service provider to credit and make available funds to the recipient.

8.8           If we are unable to complete your payment order, we will let you know and, if possible, the reasons for the refusal and an explanation of how to correct any factual errors. However, we are not required to notify you if such notification would be unlawful.

8.9           You do not have an option to cancel or amend any payment order and/or FX Order once it is submitted. You can send an email to payments@transferholdings.com if you want to cancel or amend any payment, and, if possible, Excalibur Financial will put maximum effort to reverse the payment. We may need to charge you a Fee for our efforts.

8.10        You must make sure that the information you provide when setting up a payment order is accurate. If we have processed your order in accordance with the information you have provided to us it will be considered correctly completed even if you have made a mistake.

8.11        If required, we may request clarification and additional documents relating to the payment order (e.g. an invoice, contract or the transaction terms, source of funds, or other) prior to allowing a transfer of funds. You agree to cooperate with us to provide such clarification and obtain requested documents.

8.12        For the provision of withdrawal and transfer methods, Excalibur Financial may rely on third party financial institutions or on local payment service providers with whom we have payment arrangements and who are regulated in their respective markets and comply with their local laws. We do not guarantee the availability of any particular withdrawal or transfer method and may make changes to or discontinue a particular method at any time. We are no longer responsible for the withdrawal payment once the withdrawn funds are received by your designated payment service provider.

9     CURRENCY CONVERSION

9.1           You may convert the money held in one currency in your Excalibur Financial Account into other currencies we support from time to time, as available to you via “My Account” facility on the Excalibur Financial website (each a “Currency Balance”). If you are eligible, you may transfer funds from one Currency Balance to another Currency Balance to obtain the currency by submitting a “Currency Exchange” request through your Excalibur Financial Account. Such funds will be generally credited in the receiving Currency Balance within minutes, in some cases it can take several hours or longer. You must ensure that there are sufficient funds available in the Currency Balance you wish to transfer funds from, including to cover any applicable Fees. Please see the Fees section below and the FAQ section of the Excalibur Financial website for additional details.

9.2           The currency exchange Service may be subject to certain limits as set and adjusted by Excalibur Financial from time to time. We reserve the right to reject a request to transfer funds from one Currency Balance to another Currency Balance or block the currency exchange Service at any time at our sole discretion. The currency exchange Service is currently available in certain currencies only and additional currencies may be enabled from time to time. We do not guarantee the availability of this Service and may make changes to or discontinue it at any time.

9.3           We will let you know the exchange rate when you place your “Currency Exchange” request.

9.4           When we refer to an exchange rate in these Terms and Conditions, it means the mid-market exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR) as provided by our currency liquidity 

providers. We may change our currency liquidity providers from time to time without notice to you.

9.5           We offer automatic guaranteed rates on certain “Currency Exchange” requests subject to the terms and conditions and Fees which may be changed from time to time.