Terms and Conditions

Terms & Conditions

Kaymaks Limited is incorporated in the United Kingdom with Registration Number: 04773478. The company is located at Rex House, 4-12 Regent Street, London, England, SW1Y 4PE. Kaymaks is regulated by the Financial Conduct Authority (FCA) as an Authorised Payment Institution (API) with a reference number: 540552.

These terms and conditions (together with the documents referred to in it) tell you the terms on which you may make use of our site), whether as a guest or a registered user. Use of our site includes accessing, browsing, or registering to use our site.

Please read these terms carefully before you start to use our site, as these will apply to your use of our site. We recommend that you print a copy of this for future reference. By using our site, you confirm that you accept these terms and that you agree to comply with them. If you do not agree to these terms, you must not use our site.

Our Privacy Policy (https://kmaks.co.uk/en/privacy-policy), which sets out the terms on which we process any personal information we collect from you, or that you provide to us. By using our site, you consent to such processing and you warrant that all information provided by you is accurate.

The Customers implementation of the actions provided by these Terms and Conditions, are considered as complete and unconditional acceptance (the “Acceptance”) of the Terms and Conditions. The Terms and Conditions are published on the website http://www.kmaks.co.uk

The Terms and Conditions refers to legal persons (individuals) and legal entities (Companies).

Our site is made available free of charge.

Please note that any of the content on our site may be out of date at any given time, and we are under no obligation to update it. The content on our site is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.

Our site is provided on an "As Is" basis. We do not guarantee that our site will be error-free or uninterrupted and do not warrant the accuracy, suitability and effectiveness of our site. We will not be liable to you if for any reason our site is unavailable at any time or for any period.

You are responsible for making all arrangements necessary for you to have access to our site. You are also responsible for ensuring that all persons who access our site through your internet connection are aware of these terms and other applicable terms and conditions, and that they comply with them.

In accordance with the procedure set out in the laws of the United Kingdom, Kaymaks undertakes to maintain the confidentiality of information received from Customers.

Limitation of our liability

Nothing in these terms excludes or limits our liability for death or personal injury arising from our negligence, or our fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by law.

To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to our site or any content on it, whether express or implied.

We will not be liable to any user for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with use of, or inability to use, our site or use of or reliance on any content displayed on our site.

The Customer gives consent to Kaymaks Limited or affiliates to use and access their personal data and that of the Receiver, when performing the functions of mutual settlements between the correspondent partners of Kaymaks. The processing of personal data means the following but does not exclude alternative interpretations, the performance of Kaymaks operations with personal data, the collection, systematization, accumulation, storing, updating, using, transmission (including cross-border), blocking, and disposing with the system of Kaymaks. This consent is valid from the moment the Terms and Conditions is concluded and up to five years after the transfer has been completed, as required by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, data in the Customer must be held for a minimum of 5 years. Kaymaks is registered as a data controller with the Information Commissioner’s Office and regulated by the GDPR. Your information is not shared with third parties that will be subject to market abuse.

With respect to your personal data, you the Customer has the right to:

  • information about Kaymaks, Agents and Partners of the system Kaymaks (information can be found on the website www.kmaks.co.uk) with access to their personal information.
  • demand the updating, blocking or disposing of their personal data in case the personal data are incomplete, out-of-date or invalid etc.
  • take legal measures to protect their rights.
  • have access to their personal data.
  • receive information about the processing of their personal data.

If you are a consumer user, please note that we only provide our site for domestic and private use. You agree not to use our site for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

General Provisions

The Terms and Conditions of Kaymaks Limited are governed by laws of England & Wales and are exclusive to the jurisdiction of the court of England & Wales in the settlement of disputes that may arise from provisions set out to provide our services.

Kaymaks Limited aims to provide its customers with the best service possible, however it is also important to note that, Kaymaks will not be held liable for any unforeseen circumstances that will prevent it from delivering this service unless otherwise provided by law

Our terms to provide you with a service (likewise any other service provider) are conditional. We rely on the information obtained, to provide you with a better service. We require all our customers to provide us with the necessary and appropriate information as required under the regulations, to enable us to complete your transaction. Failure to provide all the information requested may result in unnecessary delays.

Kaymaks will not be liable for any service delays because of local regulations that may restrict the completion of transactions. Kaymaks will not be liable for any losses that are indirectly associated with incidental, consequential or special damages.


The services of Kaymaks are open to all persons who have attained the age of 18 years and above. Ultimate beneficiaries for both Remitter and beneficiaries must be declared if transactions are being processed on their behalf. To be eligible for our Services, you must be at least 18 years old. Kaymaks uses Credit Bureaus’ and National Databases to provide verification of electronic identification. This is very important in protecting your privacy and avoiding fraud and impersonation. If there is an inconclusive verification process, Kaymaks may decline to process the transaction it is deemed as a risk.

Remittance Service

Kaymaks is regulated by the FCA and supervised by HMRC as an Authorized payment institution (API). Transactions are processed and paid to beneficiaries as banknotes, Transfer to Bank Account or to Credit Card. The duration of the payments depends on the service selected. Pay-outs in banknotes and to Credit Cards are usually delivered by same day service. Transfer to Account may be immediate but also can take up to 2-3 days, depending on the crediting institution in which the account is held. Transactions are usually paid out in the currency available, chosen by the Remitter at the point of transaction creation. Whilst Kaymaks does its best to deliver a service within reasonable time and in the most transparent way, we also advise our customers that payments to beneficiaries are dependent on local regulations within receiving countries. As a confirmation of the pay-out, Kaymaks issues to the Receiver a second copy of the Application for receipt of the transfer and check.

All information needed to track the transaction is available on the receipt issued to the customer at the point of sale, including:

  • Remitters full name.
  • Remitter ID details.
  • Reference number.
  • Remitters phone number.
  • Send & receiving amount.
  • Receiver full name.
  • Receiving country.

The Remitter must independently inform the Receiver that, in order to receive a transfer of funds, the Receiver must present their own personal identity document at the point of collection. Receivers will also be asked to identify the Remittance pay-code (Outer Number) and the amount of the transfer. The collection point is not obliged to contact the Receiver. The average Remittance is carried out within 1 to 10 minutes.

Pay-out of funds is made when the Receiver's full name, including surname, first name, patronymic (if any), corresponds to the data indicated in the identity document, provided by the Receiver and the data indicated in the transfer of funds, as well as the unique Remittance pay-code.

Kaymaks shall not be liable for pay-out refusal if there is a discrepancy between the Receivers information specified by the Remitter and the documents presented by the Receiver. The Remitter is obliged to keep the receipt confirming the transfer of funds before the end of the process of fund transfer - until the funds are paid to the Receiver. These documents are also required when making changes in transfer or to refund a tranSACTION.

Payment Terms

Prices charged for the service are based on customer send amount, the mode of payment and the foreign currency exchange spread applied (rate). Fees and rates may be revised periodically based on market fluctuations of the Sending Currency against exchange currencies such as the USD & Euro. The fees and rates are applied at the point of sale and your transaction will not be affected by any changes after confirmation.

Debit and credit card payments are charged to your account when your transaction is accepted. Your Bank may hold on to the amount paid when your payment is declined whilst due process is completed. When this happens, we will advise you to contact your bank immediately. Bank Account transfers and SWIFT payments are subject to charges agreed with your bank. Transactions are processed in real time and Kaymaks will only complete your transfers after payments have been received from you. This means that if you are making payments using a card or transfer from an account, your transfer will only be released after the pending funds are cleared. Customers may also have to consider bank holidays and weekends and other periods when the UK Faster Payment system is unavailable.

Kaymaks may run promotions during seasonal periods and offer the service at reduced fees. These promotional rates and fees will only last for the intended period and we advise customers to read the terms and conditions in association with the promotion

Cancellation & Refunds

Customers are entitled to make a cancellation and request a refund within a reasonable period if conditions pertaining before the transaction have changed. Transactions are processed based on information provided by the Remitter and if the wrong data is provided, Kaymaks withholds the right to refund to the customer the send amount only and not the Sending Fee. If the funds are not delivered to the beneficiary in a reasonable timeframe or within the stated terms, you will get a full refund including the sending fees. Customers must fill out a cancellation form at the point at which the transaction was processed. Customers will again need to provide a valid form of identification. If the transfer was made via this website, the acceptance of the claims, changes and the withdrawal of the transfer is made via this website. (www.kmaks.co.uk).

Ideally, we try to deal with all cancellations within 1 working day but refunds will only be made following confirmation that the Receiver has not received the funds. All refunds will be processed with the same payment mode as used at the time of processing the transaction.

Cancellation by Kaymaks

We may, in our absolute discretion, refuse or cancel transaction requests or transactions if we are required to do so by law, or where we have reason to believe processing the transaction requests would violate Anti-money Laundering or Counter-terrorism Financing laws and regulations. We may also refuse in case you are using the service to purchase goods or services from third parties you do not know or trust, or if:

  • We are unable to verify your identity.
  • We are unable to verify the identity of the Receiver.
  • You do not comply with information requests relating to the purposes of transaction.


  • We have reasonable grounds to believe that you are using the service in breach of these Terms and Conditions or any applicable laws, rules or regulations.

In case of refusal or cancellation of transaction request or payment request, we may also, temporarily or permanently suspend your account. When we temporarily or permanently suspend your account, refuse or cancel a transaction request, we shall be entitled to retain any Service Fees already incurred. In order to comply with our obligations under relevant laws, we reserve the right to ask for further information or evidence relating to the purpose of a Transaction. Kaymaks is not liable for non-payment of the transfer of funds due to the cancelation of the license of the correspondent. In this case, the Receiver claim is with the interim administration and to register a creditor claim

Complaints Handling

Kaymaks Limited is committed to give the best possible service to customers. We have adopted the six principles of good practice identified by the Financial Ombudsman Service which oversees complaints between customers and businesses providing financial services in England and Wales. The customer has the right to register the Complaint in writing, orally or over the telephone or email, if not satisfied with the services provided by us. When a Complaint is registered we will give the customer an acknowledgment stating required time frame within which we shall resolve the Complaint based on the nature and subject matter of the particular Complaint by email.

Professional Assurance

If the customer Complaint is received in writing, we will endeavor to send an acknowledgement or a response within 48 (forty eight) Hours or 2 (two) business days. If the customer raises a Complaint over phone on our designated customer service number we will register the Complaint and shall keep customers informed of the progress within a reasonable period of time. After examining the matter, we will send our final response or explain why we need extension of time to respond and shall endeavor to do so within 30 (thirty) days of receipt of Complaint.

Customers Responsibility

Customers can help Kaymaks to reduce the number of complaints by providing all the necessary information required to process transactions. If you remain dissatisfied with the response(s) received 8 weeks, you may wish to contact the Financial Ombudsman Services (FOS) as below for further advice and guidance. This will not affect your legal rights.

Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR.

Telephone No.: 0845 0801800

Email address: complaint.info@financial-ombbudsman.org.uk


Kaymaks Limited owns copyright to the website and all its contents. The website is open to the public solely for the provision of information regarding our services. No one can use any content from the website without a written permission from Kaymaks Limited

Contact details: Kaymaks Limited, Rex House, 4-12 Regent Street, London, England, SW1Y 4PE

E-mail : info@kmaks.co.uk

Tel: 0203 542 0926


We do not guarantee that our site will be secure or free from bugs or viruses. You are responsible for configuring your information technology, computer programmes and platform in order to access our site. You should use your own virus protection software.

You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to our site, the server on which our site is stored or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will cooperate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our site will cease immediately.

We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our site or to your downloading of any content on it, or on any website linked to it.