AirMoney Reg E. Policy.

  • This Regulation E policy outlines the rights, liabilities, and responsibilities of users of our AirMoney App ("the App") under Regulation E of the Electronic Fund Transfer Act.

  • The policy governs electronic fund transfers initiated through the App and establishes procedures for error resolution, unauthorized transactions, issuance of access devices, consumer liability, preauthorized transfers, and consumer protection.

1. Electronic Fund Transfers Covered

a. This policy applies to electronic fund transfers that involve the movement of funds to or from a consumer's account through the App, including but not limited to:

  1. Sending money to other individuals or businesses.

  2. Receiving money from other individuals or businesses.

  3. Transferring funds between the consumer's accounts within the App.

b. Any other electronic transactions facilitated by the App.

2. Consumer Rights and Disclosures

  1. AirMoney Strictly adheres to the regulations and guidelines outlined by governing bodies such as Regulation E. We prioritize the security and protection of our users' funds and aim to minimize consumer liability for unauthorized Electronic Funds Transfers (EFTs). We do not rely on consumer negligence or the deposit agreement to impose greater consumer liability than what is permitted under Regulation E. We understand the importance of promptly addressing and resolving unauthorized EFTs reported by our users. Our policies and practices align with the maximum liability limits set forth by Regulation E, ensuring that our users are protected within those limits. In case of unauthorized EFTs, we encourage our users to report such incidents promptly through our designated customer support channels. We have security measures, including transaction monitoring, multi-factor authentication, and encryption protocols, to help prevent and detect fraudulent transactions. Our terms of service and user agreements outline the rights and liabilities of our users and our company, ensuring transparency and compliance with applicable regulations. We are committed to providing a safe and secure money-sending experience for our users while adhering to the protections afforded by Regulation E.

    1. Pre-Transaction Disclosures:

      1. Before initiating any electronic fund transfer, consumers will receive clear and concise disclosures outlining the terms, conditions, and fees associated with the transaction.

    2. Issuance of Access Devices:

      1. Access devices like debit cards or other electronic payment methods may be issued to consumers to initiate electronic fund transfers through the App.

    3. Unsolicited issuance of access devices will only occur when:

      1. The device is not validated or capable of being used without the consumer's consent.

    4. The consumer can choose whether to activate and use the access device.

  2. Error Resolution Notice: