Last update: 18st September, 2025
1. Purpose
These Terms and Conditions (the “Terms”) set forth the rights and obligations between T2PAY (the “Company”) and the customer (the “Customer”) with respect to the time deposit service provided by the Company (the “Service”).
2. Scope of Application
2.1. These Terms shall apply to all transactions relating to the Service.
2.2. Matters not stipulated in these Terms shall be governed by the product description, information displayed on the Company’s website, or other conditions separately determined by the Company.
3. Deposit Placement
3.1. The Customer shall apply for a time deposit in accordance with the method and minimum deposit amount specified by the Company.
3.2. A time deposit contract shall be deemed concluded at the time the Company accepts the application and receives the deposited funds.
4. Interest
4.1. Deposits shall bear interest at the interest rate determined by the Company. The applicable interest rate, calculation method, and payment method shall be governed by these Terms and other conditions separately determined by the Company.
4.2. Any taxes, duties, or other public charges arising from interest or other income generated through the Service shall not be withheld or processed by the Company and must be declared and paid by the Customer in accordance with the laws and regulations of the country or jurisdiction in which the Customer is subject to taxation.
The Company shall bear no responsibility for tax filing, calculation, or payment.
5. Interest Calculation Method
5.1. Interest shall be calculated on a simple interest basis, by applying the annual interest rate determined by the Company to the principal amount for the number of days from the deposit date up to the day preceding the maturity date, using a 365-day year basis.
5.2. Any fraction below the minimum currency unit specified by the Company resulting from interest calculation shall be rounded down.
5.3. Interest shall be paid only at maturity (upon completion of the contract), and no interim or partial interest payments shall be made.
6. Timing of Interest Payment
6.1. Interest under the Service shall be paid only when the time deposit reaches maturity and the contract is completed, together with the principal.
6.2. In the event of early termination, no interest shall accrue or be paid regardless of the deposit period.
7. Automatic Renewal
7.1. At the time of application, the Customer shall select either automatic renewal or non-renewal of the time deposit.
7.2. The Customer may change the renewal setting during the deposit period through the Company’s designated web page or online procedure.
7.3. The renewal status recorded in the Company’s system at the time of maturity, as selected by the Customer, shall be final and prevail for processing purposes.
7.4. If automatic renewal is selected, the deposit shall be renewed automatically at maturity under the conditions determined by the Company at that time.
7.5. If non-renewal is selected, the principal and interest shall be paid at maturity in accordance with the method determined by the Company, and the time deposit shall terminate.
8. Early Termination
8.1.Early termination prior to maturity is not permitted in principle. However, the Company may allow early termination at its discretion in unavoidable circumstances.
8.2. In the event of early termination, no interest shall accrue or be paid.
8.3. The amount refunded to the Customer upon early termination shall be the principal amount less a termination fee equal to 20% of the principal.
8.4. The early termination fee is intended to compensate for administrative costs, operational adjustments, and losses incurred by the Company and shall not be refunded for any reason.
8.5. The Company shall not be liable for any loss, lost opportunity, or other disadvantage incurred by the Customer due to early termination.
9. Tax Disclaimer
9.1. The Company shall not withhold, declare, or pay any taxes or public charges arising from the Service.
9.2. The Customer shall be solely responsible for all tax-related matters arising from the Service.
10. Deposit Protection Framework
Time deposits under the Service are not subject to any specific public deposit protection or guarantee scheme in any country or jurisdiction.
11. Amendment of Terms
The Company may amend these Terms when deemed necessary. The amended Terms shall become effective upon publication on the Company’s website or through other means determined by the Company.
12. Governing Law and Jurisdiction
The governing law and exclusive jurisdiction applicable to these Terms and the Service shall be determined separately by the Company.