Partner Terms

Our EU services are provided by Currencies Direct Spain, EDE, S.L. as outlined in these terms and conditions.

1. Definitions

In this Agreement, the following words shall have the following meanings:

"Foreign Currency Transaction(s)" shall mean any foreign exchange transaction entered into on behalf of a client.

"active" means partner has referred a qualifying customer within the last 365 days.

"margin" means the profit made by Currencies Direct on any completed currency transactions, net of costs.

"Effective introduction(s)" means any introduction of a new, qualifying customer by the partner to Currencies Direct that Currencies Direct does not already have on its Database.

"profit" means the sterling equivalent of (i) Currencies Direct’s revenue amount of currency purchased by qualifying customers under qualifying trades less (ii) any costs, expenses, charges and fees incurred by Currencies Direct (as determined by Currencies Direct in its absolute discretion and without being required to produce evidence thereof) in acquiring and delivering the currency together with any associated services; provided however that where the profit yields a number less than zero, the profit will be deemed to be zero.

“qualifying customer” means a person (including an individual, company or partnership) referred by the partner to Currencies Direct where that person has not previously been a client of Currencies Direct or been referred to Currencies Direct and who has consented to having their name and contact details shared with Currencies Direct.

“qualifying trade” means a trade entered into by Currencies Direct with a qualifying customer referred by the partner where the trade has not been subsequently cancelled or unwound.

"The Company" or “Currencies Direct” means Currencies Direct Spain S.L., Avenida del Mediterráneo, 341, 04638 Mojácar, Almería. Registered in Spain under N.I.F.: B04897930. Currencies Direct Spain is authorised by the Bank of Spain (“BoS”) as an Electronic Money Institution under Law 21/2011 of 26 July on electronic money. Our BoS Firm Code number is 6716.

2. Conditions

You, the partner, have conducted a thorough search in the money transfer marketplace and have chosen Currencies Direct not only for commission payments, but instead/also for the value we add to your clients’ experiences.

A. Currencies Direct will pay a pre-agreed percentage of turnover, ‘profit’ or a combination of both as commission to the introducing partner provided the partner is active, as per this Agreement. Commission shall only be paid in relation to qualifying trades where Currencies Direct has received funds from the qualifying customer. Any payments made by Currencies Direct to the partner pursuant to this Agreement shall be inclusive of all applicable taxes (including, without limitation, value added tax). The partner acknowledges that it shall be responsible for paying all associated taxes and national insurance contributions and making any other necessary deductions in relation to payments received from Currencies Direct under this Agreement for itself and its personnel.

B. Where the introducing partner introduces a second tier introducing partner at a lesser commission rate, they will receive the differential between the two rates on the second-tier customers' trading. This payment will also be paid inclusive of applicable taxes, as per point (a) above.

C. Currencies Direct agrees to keep true and accurate records and books of accounts containing all data necessary for the determination of the initial and ongoing commissions.

D. It is a general duty on Currencies Direct to act at all times in good faith towards the partner.

E. The parties expressly agree that should any provision contained in this Agreement be held to be invalid under any applicable rule of law it shall to that extent be deemed omitted but the remainder of this Agreement shall continue in full force and effect.

F. This Agreement shall be governed in every particular including formation and interpretation in accordance with the Laws of England and Wales and will be subject to the jurisdiction of the Courts of England in respect of any proceedings arising out of or in connection with this Agreement.

G. The partner has read, understood, and agrees to be bound by the Currencies Direct Partner Content Terms in their entirety at all times. Failure to adhere to the terms will result in termination of this partner agreement. On the termination of this agreement for any reason the introducing partner agrees to return, remove, or delete all information and or content referring to, supplied by or on behalf of Currencies Direct.

H. Currencies Direct reserves the right to change the terms of this Agreement, or to substitute this Agreement, from time to time in which event a notification will be sent to the partner at the commission statement email held on record by Currencies Direct Unless the partner notifies Currencies Direct in writing of any objection within 10 days of receipt of the email informing it of changes to this Agreement, the partner shall be deemed as having accepted any amendments to, or substitutions of, this Agreement.

I. The partner is required to supply Currencies Direct with due diligence documents as required by Currencies Direct from time to time and to satisfy Currencies Direct’s partner on-boarding procedures. Failure to supply these documents or to satisfy on-boarding will result in Currencies Direct being unable to register the partner or to pay commission.

3. Invoicing of services

In accordance with Articles 2 and 6 of the Regulation regarding invoicing obligations in Spain (Royal Decree 1619/2012, of 30th of November), there is an obligation for all partners to issue an invoice showing both its own identification details as the service provider (name and/or surname, Tax ID number and address) and the details of Currencies Direct (company name, Tax ID number and tax domicile), the description of the service provided, the taxable base, the amount of the withholding to be made and any other reference to be included in the invoice, according to the above Regulation regarding invoicing obligations.

With the aim of facilitating this obligation, Currencies Direct will operate a self-invoicing process on behalf of applicable partners. The acceptance of this Agreement by the partner will be taken as prior authorization in compliance with the requirements of article 5.2 of the above-mentioned Regulation, according to which, the obligation to issue invoices may be fulfilled by the recipient of the operations. Therefore, the partner will not have to generate its own invoices and agrees to those invoices instead being generated by Currencies Direct.

Certain partners based in Portugal may opt out of the above self-invoicing process by notifying Currencies Direct in writing. These partners shall generate invoices using an agreed form and issue them to Currencies Direct. Currencies Direct shall, subject to being satisfied with the invoice, pay each invoice in accordance with its usual payment cycle.

The partner is responsible for accounting for and paying any taxes to the relevant authorities, including (but not limited to) income tax, VAT, and other local taxes, and by signing this Agreement the partner confirms that these obligations have been met and will be met in respect of all payments made to the partner by Currencies Direct. In accordance with Article 99 of the Spanish Personal Income Tax Act, and articles 75 and 76 of the Spanish Personal Income Tax Regulations, Currencies Direct is obliged to withhold a percentage on all profit payments made to its partners who are individuals resident in Spain and carry out professional or economic activities subject to Personal Income Tax (PIT) in Spain.

In the case of partners who are resident in a country outside of Spain, Currencies Direct will apply the corresponding withholding on all profit payments made to its partners, depending on the country of residence of the partner. In this regard, Currencies Direct will apply by default a 24% withholding tax rate on all profit payments made to its non-resident partners.

If the partner requests the application of a reduced withholding tax rate provided in the Double Taxation Agreement signed between Spain and its country of residence, the partner shall provide a tax residence certificate issued by the Tax Administration of its country of residence to Currencies Direct.

The partner must provide an updated tax residence certificate issued by the Tax Administration of its country of residence to Currencies Direct on an annual basis. Currencies Direct will, if relevant, send the partner a reminder to renew their certificate two months before the expiry date of the existing certificate, such reminder to be sent to the commission statement email held on record by Currencies Direct.

At the end of each financial year Currencies Direct shall provide the partner with a certificate of income and withholdings detailing the amounts paid by Currencies Direct in relation to the partner and the amounts withheld and paid to the tax authorities.

This withholding tax on each payment made will be paid to the Spanish Tax Authorities (STA) on behalf of the partner.

The withholding tax will be recognised as a tax credit of the partner against the STA, which will offset the tax payable (or increase the refund to be received) on the income tax return.

For the avoidance of doubt, Currencies Direct does not condone tax evasion and has a zero-tolerance policy in relation to the facilitation of tax evasion. In any case, the partner shall be solely responsible for complying with its tax, invoicing, and social security obligations in Spain and in any jurisdiction where it is resident or operates.

4. Currencies Direct Partner Content Terms

The following terms must be complied with by all partners of Currencies Direct:

4.1. Independence of the parties

The relationship between Currencies Direct and the partner arising from these conditions is a relationship between independent contracting parties. The parties acknowledge that this Agreement does not create any type of employment, corporate, agency or franchise relationship, factual or at law, between the parties and the partner agrees not to hold itself out as a joint venture partner, agent, or group member in relation to Currencies Direct

4.2. Branding

The partner must respect the intellectual property rights of Currencies Direct. These rights include, among others, trademarks and service marks, copyright and related rights, trade names and domain names, patents and utility models, rights to goodwill or to use in passing off and rights in confidential information owned by or licensed to Currencies Direct (“Currencies Direct Intellectual Property Rights”).

4.3. Logos

The Currencies Direct logo may only be used with prior express written permission from a Currencies Direct representative following Current Direct’s instructions. Any unauthorized alteration to the Currencies Direct logo is strictly prohibited.

Partners must not use third party logos to promote Currencies Direct without prior express written permission from a Currencies Direct representative.

Bank of Spain (BoS) – Partners are strictly not permitted to promote Currencies Direct with the use of the BoS logo under any circumstances. However, partners may refer to Currencies Direct’s regulatory status using the following wording only: “Currencies Direct Spain, EDE, S.L. is authorised by the Bank of Spain as an Electronic Money Institution under Law 21/2011 of 26 July on electronic money. Our BoS Firm Code number is 6716.”

4.4. Offline Marketing

All advertising or editorial design released by a partner which incorporates information regarding Currencies Direct must have written approval from a Director of Currencies Direct prior to publication.

4.5. Email Marketing

If the partner wishes, it may with the prior written consent of Currencies Direct, send direct marketing emails promoting the Currencies Direct business to an opt-in subscription email list, but only where the customer has provided a valid consent to the partner permitting it to specifically market Currencies Direct products and services to the customer.

This consent would need to meet the same criteria as ‘Consent to Contact’ below. Prior to sending any such promotional email, a copy of such email must be sent to Currencies Direct for approval by a Currencies Direct representative. It must be clear that any such email promotion has been sent by the partner and does not state or imply that the email is from Currencies Direct.

The partner shall ensure that any emails sent promoting Currencies Direct contain an unsubscribe link.

4.6. Consent To Contact (Referrals)

EU data privacy regulations (the GDPR) mean that we are allowed to accept a referral from the partner only if the person being referred (‘the referee’) has given their consent, either verbally or in writing, for the partner to pass their details to Currencies Direct. If you pass to us (or anyone else) details of people who have not given their consent, then you are breaking EU law, and we are not permitted to contact the referee.

When you identify someone, you would like to refer to us, you must ask them the following question, either verbally, in writing or by email:

‘Would it be okay for me to share your name and contact details with Currencies Direct so they can contact you about their money transfer service?

We will ask the client to confirm this consent whenever we contact a client referred by you. Only if the referee confirms they gave consent will we be able to continue the conversation.

From time-to-time we may ask you to provide tangible evidence that referees have provided consent. Note that the standard for recording verbal consent is for you to keep a log of meetings where consent was captured, including the names of those present, the date, time, and place.

Repeated referee rejections may indicate that referrals are unsafe and result in suspension or termination of the affiliate relationship.

4.7. Data protection and information society services indemnity

You must comply with all data protection and information society services and e- commerce applicable obligations when sending these direct marketing emails so that Currencies Direct is allowed to process the personal data with the purposes detailed in this policy without the need of complying with any further data protection obligation. You will indemnify Currencies Direct from and against any damages, liabilities, expenses, claims, fines, and losses of any type, without limitation, in connection with your failure to comply with the abovementioned obligations and with the applicable data protection and information society services and e-commerce regulations.

4.8. Privacy Policy

Currencies Direct handles any personal data you provide to us in accordance with our Privacy Policy. Please review the Policy and contact us if you have any questions about it.

4.9. Personal data

Personal data of the legal representatives of this Agreement or of other persons (such as the employees) who act in the name of Currencies Direct or the partner, as well as any other personal data in connection with which the receiving party becomes the data controller, will be processed by the other party to carry out, manage and monitor the contractual relationship and to comply with their legal obligations. The processing of these data is required, and the legal bases of this processing are (i) the execution and development of the contractual relationship, (ii) the legitimate interest to process personal data of the partner’s employees by Currencies Direct in order to manage and execute the contractual relationship, and (iii) to comply with legal duties.

Personal data will be processed whilst the Agreement is in force and, after this, for six years, or, exceptionally, for the period during which any kind of liability may arise from a legal or contractual obligation applicable to Currencies Direct and the partner.

With regard to the processing for which Currencies Direct and the partner is responsible, the data subjects may exercise their right of access, rights to rectification, erasure, objection, data portability, restriction of processing and any other right recognised by the applicable regulations from time to time, by sending a request to [email protected], attaching a copy of the ID card or any other document that proves identity. Data subjects may file any claim or request related to their data protection rights with the relevant Data Protection Authority.

Before Currencies Direct or the partner discloses to the other any personal data of third parties, the disclosing party must previously inform the data subjects of the content of the preceding paragraphs and comply with any other mandatory requirements that may be applicable for the lawful disclosure of the data to the receiving party, so that the latter is not obliged to carry out any additional act vis-à- vis the data subjects.

4.10. Online Content

Currencies Direct operate a strict policy for online content. Your website should not:

A. Promote illegal activities, violence, discrimination based on race, sex, sexual orientation, age, religion, nationality, or disability or display any information or material which harasses, annoys, or disrupts any third party, is unlawful, threatening, abusive, defamatory, obscene, vulgar, pornographic, profane or indecent or infringes the rights of any other person.

B. Under any circumstances duplicate or create any kind of links to content from the Currencies Direct news site ( This includes the duplication of page titles, blog post titles and imagery.

C. Currencies Direct Partners are not permitted to use Currencies Direct’s brand name as part of a domain or in a website URL, this includes misspellings and variations. Example:

D. Operate so as to transmit or send viruses, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation to any person.

E. Use or in any way duplicate or link to any content obtained directly from any of the Currencies Direct’s websites (“Currency Direct Websites”). Partners are encouraged to create their own unique content to improve SEO and customer experience.

F. Copy or resemble the "look and feel" or layout of the Currencies Direct Websites, including the colours and structure used in the Currencies Direct Websites, or otherwise represent to users that your website is representing the Company and/or the Currencies Direct Business.

G. Misrepresent or embellish the relationship between themselves and the company Currencies Direct.

You shall be solely responsible for the development, operation, and maintenance of your website and for all materials and links that appear on your website.

Any content used by Currencies Direct Partners to promote Currencies Direct must first be approved in writing by a Currencies Direct representative prior to publication in any form. Under no circumstances can the content appear online without approval from Currencies Direct.

Unauthorised copying or re-wording of or linking to the content from any Currencies Direct Websites is strictly prohibited. The Intellectual Property Rights of this content is owned by Currencies Direct Ltd. Any unauthorised copying or re-wording or linking of the Currencies Direct Websites will constitute an infringement of Currencies Direct Intellectual Property Rights and may result in termination of the partner agreement as described below, as well as in the judicial or extrajudicial claim of any damages suffered by Currencies Direct from such infringement.

Currencies Direct may in its sole discretion monitor Partner’s websites and shall notify you of any aspect of your website that the Company reasonably considers to be unacceptable with respect to the partner agreement and the Currencies Direct Partner Content Terms. On notification of such an infringement you agree to change your website to remove any such unacceptable content as soon as reasonably practicable and, in any event, no later than 7 days after being notified by the Company. Failure to do so may result in termination of the partner agreement as described below.

Currencies Direct may provide the partner with content for publication on the partner’s website(s). Content may include (but will not be limited to) market commentary, editorial design and copy, promotional copy, images, tools, widgets, and data feeds. All rights content provided by Currencies Direct to partners for publication on the partner’s website(s) remains the Intellectual Property of Currencies Direct and must be removed from the partner’s website(s) if requested by Currencies Direct in its sole discretion, and in any case upon termination of the partner agreement by either party as per the partner agreement.

4.11. Cookie Period

Currencies Direct employs Cookies to monitor each user’s activity on the Currencies Direct Websites. Each Cookie will be valid for a period of 30 days. You will find further information in our Cookies Policy.

4.12. Natural Search

Partners should not optimise to appear above in natural search listings for brand keywords.

4.13. Social Media

If you operate within social environments, you must communicate under your partner name so there is clarity that you are not passing yourself off as Currencies Direct and so customers understand you operate separately to Currencies Direct.

4.14. Pay-per-click / Paid Search (“PPC”) Restrictions

You shall not without the prior written consent from Currencies Direct: a) Engage in any PPC advertising where such advertisements include any trademark owned by Currencies Direct or its Group or any brand terms, brand permutations and misspellings. b) Use Vanity URL’s which include any trademark owned by Currencies Direct or its Group or any brand terms, brand permutations and, you shall:

A. Use reasonable endeavors to ensure that your advertisement does not appear above any advertisement of Currencies Direct that appears in response to the same search term.

B. Not copy any element of any PPC search-listing text used by Currencies Direct.

C. Perform negative match checks on Currencies Direct brand terms unless otherwise given permission.

4.15. Brand Guidelines

You shall display your own trademark (word and/or logo) prominently on your website and shall ensure that a customer browsing your website is given enough information to convey the message that your website is not operated by or on behalf of Currencies Direct, including and particularly any page where you capture detail that you will send to us under the affiliate scheme.

You shall ensure that any written statement promoting Currencies Direct displayed on your website is written from a third-party perspective. By way of example only, you should not use terms such as “our services” in respect of Currencies Direct services.

4.16. Intellectual Property

Currencies Direct grants its partners a non-exclusive, royalty-free, revocable and non- transferable licence to use and display for the duration of the Partner Agreement the trademarks and content owned by Currencies Direct (“Currencies Direct Trade Marks” and “Currencies Direct Content”) on your website solely for the purpose of promoting Currencies Direct and creating links to the Currencies Direct Website following Currencies Direct’s instruction, provided that such promotion of Currencies Direct by you is in accordance with the terms and conditions of the Partner Agreement and the Currencies Direct Partner Content Terms.

Nothing in this document shall grant to you any right to use any of the Currencies Direct Trademarks as part of your corporate or trading name or any of your domain names, and you undertake not to do so or to otherwise to hold yourself out as being an agent of Currencies Direct.

You acknowledge that all content on the Currencies Direct Website is proprietary to or licensed by Currencies Direct and may not be reproduced, modified, transmitted, displayed, published, or distributed without the prior written consent of Currencies Direct. You shall comply with these terms at all times.

Noncompliance of the terms of this clause will constitute an infringement of Currencies Direct’s Intellectual Property Rights and may result in termination of the Partner Agreement as described below, as well as in the judicial or extrajudicial claim of any damages or losses caused to Currencies Direct and derived from such infringement.

Any other infringement by the partner of Currencies Direct Intellectual Property Rights will cause the termination of the Partner Agreement by Currencies Direct as described below, as well as the eventual judicial or extrajudicial claim of any damages or loses suffered by Currencies Direct from such infringement.

Furthermore, the partner undertakes to indemnify and hold harmless Currencies Direct from any damages or losses, claims, demands, costs, and expenses of any nature arising from or relating to any claim brought against Currencies Direct deriving from any infringement by Currencies Direct of any third-party rights or the applicable legislation to intellectual property.

5. The Whole Agreement

Currencies Direct shall be entitled to perform ad hoc checks from time to time of Partner Websites to ensure that they are complying with all the terms of this Agreement.

Infringement of any of these terms may result in suspension of the partner from the partner agreement in which case the partner will forfeit any outstanding commission that would otherwise be due to the partner at the date of termination and any future commissions otherwise accruing.

If for any reason the partner agreement is terminated by either party, the partner agrees to remove all content provided to the partner by Currencies Direct from its website(s) within 7 days of the notice to terminate the Partner Agreement being delivered by either party to the other.

For more information, or further clarification on whether your activity would contravene any of the above Terms and Conditions please contact [email protected].

The partners must comply with all applicable laws and regulations in connection with the services provided under this agreement, including having all required permits and authorisations. Currencies Direct will not be liable for the breach of any of the legal obligations of the partners and the partners will indemnify Currencies Direct from and against any damages, liabilities, expenses, claims, fines, and losses of any type, without limitation, in connection with your failure to comply with any applicable regulations.