Terms & conditions
Introduction
By using or browsing the CBPay website, registering a user account on that site (the "Account"), or using any services CBPay may offer through the site or the mobile application (the "App"), you accept and agree to comply with these Terms of Use. Accepting these Terms means you have been clearly and unambiguously informed about them and understand that they are legally binding. Therefore, before taking any action on or through the site or App, you must carefully read all Terms of Use and the Privacy Policy. If you do not agree, you must stop using CBPay services.
Registered User warranties
By opening an account on the Site and becoming a Registered User, you expressly warrant that: you accept and agree to comply with these Terms of Use and the Privacy Policy, which are legally binding; you have full capacity to accept the Terms, including when acting on behalf of a legal entity; you will not use your account for criminal or fraudulent purposes, nor allow others to use your account without authorization.
1. Background
CBPay operates a mobile application that allows Registered Users to perform various crypto-asset operations such as buying, selling, or swapping ("Transactions"), sending or receiving crypto-assets to or from their Wallet ("Transfers"), and making merchant payments. CBPay facilitates these actions via APIs with locally authorized exchanges, pay-in providers, and other software providers for local currency disbursement (pay-out). CBPay does not act as custodian of user funds; funds remain under custody of the designated exchange.
2. Definitions
Individual fee: Fee charged when money leaves the CBPay ecosystem. Platform: The application hosted at www.cbpayapp.com that allows Registered Users to perform Transactions. Business fee: Fee charged when paying for goods or services within the CBPay ecosystem. Politically exposed person (PEP): Individuals who perform or have performed prominent public functions in a country, until at least one year after leaving office. Transfer: Sending or receiving crypto-assets to or from a Registered User’s Wallet. Transaction: Purchase, sale, or swap of crypto-assets. Wallet: Public key where each user’s crypto-assets are stored.
3. Consent formation and amendments
This agreement is perfected by electronic signature in accordance with Chilean Law 19.799. From that moment, the User is subject to obligations and acquires rights as stated in this Contract. Amendments require mutual consent. CBPay will propose contractual changes and the User will express consent at that time or the next time they log in to the Site.
4. Registration and account
Only Users who (1) have accepted this agreement, (2) have created an account, and (3) have had their account duly verified by CBPay according to their profile may access certain Platform sections and/or enter into Transactions and/or make or receive Transfers.
Account opening conditions
CBPay opens a user account in the CBPay ecosystem for individuals, businesses, and merchants ("user account"), in bitcoin, for an indefinite term. Deposits do not earn interest or adjustments. No fee is charged for transfers within the ecosystem, checking balances, or loading funds to your CBPay account. You may withdraw funds at any time, subject to a fee, through means available in the CBPay app. The CBPay App is the exclusive channel to operate your user account; you must create a PIN and are responsible for safeguarding it—any operation with your PIN is deemed yours.
Account operating conditions and limits
The account is enabled under certain conditions and operating limits, including maximum amounts for security reasons, which CBPay may modify and will publish on www.cbpayapp.com.
Customer information
CBPay will periodically email statements of movements and balances. No new statement is sent if the account has had no entries since the last statement. There are two Registered User profiles: individuals and businesses. Access depends on proper account verification.
5. Representations and obligations
The User declares and accepts: they are of legal age and may freely administer their assets; cash cannot be used on the Platform; fiat balances of a Registered User held in an account where CBPay is the account holder do not earn interest; crypto-asset prices are volatile; CBPay does not provide financial, legal, or risk advice; the User understands the technological nature of the Platform and crypto-assets; CBPay may add, remove, or suspend transactions with certain crypto-assets.
6. Fees
CBPay may charge fees for Transactions as disclosed on the Platform.
7. Tax obligations
Each party must comply with tax obligations applicable to the nature of the Transactions.
8. Law 19.628 on protection of private life
You authorize CBPay to use the data you provide to allow proper operation of the Platform.
9. Laws 20.393 and 19.913
You acknowledge Law 20.393 on criminal liability of legal entities in money laundering offenses, and Law 19.913 creating the Financial Analysis Unit, and that CBPay must report suspicious operations.
10. Death
If a Registered User dies, delivery of crypto-asset balances in fiat requires the administrative resolution granting effective possession and other relevant legal documents.
11. Force majeure
For this agreement, force majeure means an unforeseeable event that cannot be resisted, consistent with Article 45 of the Chilean Civil Code.
12. Term
This Contract is indefinite unless CBPay or the User terminates it with prior notice.
13. Governing law and disputes
This agreement and Transactions are governed exclusively by the laws of the Republic of Chile, and disputes are subject to ordinary courts in Santiago, Chile.
14. Electronic signature
This instrument is executed by electronic signature under Law 19.799 on electronic documents, electronic signature, and certification services.
15. Information privacy
To use CBPay services, Registered Users must provide certain personal data. Personal information is processed and stored on servers or media with physical and technological security standards.
16. HIFI processing
We use HIFI to process financial transactions. By using our service, you also agree to HIFI's Terms & Conditions and Privacy Policy
17. Contact
For questions, claims, comments, or suggestions about these terms, contact us at hola@cbpayapp.com
CBPay operates through three regulated entities: GRUPO CB LLC & GRUPO CB USA INC, registered as Money Services Businesses (MSB) with FinCEN under numbers 31000305221356 & 31000323961403, and GRUPO CB CANADA LIMITED, registered as an MSB with FINTRAC under license M22989786. These entities are authorized for foreign exchange, crypto asset dealing, and money transfer services.