Terms and Conditions

Terms and conditions

1. Introduction

Kaymaks Limited is incorporated in the United Kingdom with Registration Number: 04773478. The company is located at 25 Sackville street, London-Piccadilly. W1S 3AX. Kaymaks is regulated by the Financial Conduct Authority (FCA) as an Authorised Payment Institution (API) with a reference number: 540552.

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

The Terms and Conditions refers to individuals and legal entities (Agents and Partners of Kaymaks).

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

The Customer – individual person undertakes not to transfer money related to business activities and not to pursue unlawful purposes.

By joining the Terms and Conditions in order to comply with the requirements set out by the legislator, the Customer (when sending – “Remitter”) gives his/her consent to Kaymaks/Agents/Partners involved in the transfers to process his/her personal data. When servicing the Receiver (the “Receiver”) as well as when performing the functions of system of mutual settements between banks (the “Clearing”) Kaymaks receives personal data from other Agents and Partners of the Kaymaks system.

Individual is giving a confirmation to process the personal data. Personal data contains Remitters data from the Application for money transfer, data, entered into electronic forms in electronic payment system or data, entered by the agent of Kaymaks/Agent/Partner based on information, provided by the Remitter. The processing of personal data means the performance of Kaymaks operations with personal data, including the collection, systematization, accumulation, storing, updating, using, transmission (including cross-border), blocking, disposing, including in the system of Kaymaks. This consent is valid from the moment the Terms and Conditions is concluded and within five years after the transfer has been made.The transfer of personal data is possible in cases where it is required for the performance of the Agreement and is permitted by the laws of United Kingdom. With respect to his/her personal data, the Customer has the rights to:

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

Kaymaks has the rights to amend the Terms and Conditions informing the Customers by publishing changes on the Kaymaks website.

In case of disagreement with any rules set out in this Terms and Conditions, please, do not use Kaymaks services.

2. General Provisions

The Terms and Conditions of Kaymaks Limited are governed by English Law and are exclusive to the jurisdiction of the English courts 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 therefore we request all our customers to provided us with the necessary and appropriate information 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.

Kaymaks is registered as a data controller with the Information Commissioner’s Office and regulated by the GDPR. We therefor assure our customers that information collected will only be shared with our business partners involved in the execution of your transactions. Your information is therefore not shared with third parties that will be subject to market abuse

3. Eligibility

Kaymaks services is 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 data bases to provide 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.

4. Remittance Service

Kaymaks is regulated by the FCA and supervised by the HMRC as an Authorized payment institution (API). Kaymaks is therefore obliged to provide the best service as permitted by the new PSD2 and MLR 2017 guidelines.

However, Kaymaks can only provide a good service if customers are able to provide all the requisite information needed to process a transaction efficiently. Transactions are processed and paid to beneficiaries as cash, bank account transfer or credit card. Duration of the payments depends on the service selected. Cash pay-outs and credit cards are usually delivered by same day service. Bank transfers usually take 2-3 days. Transactions are usually paid out in the currency available and chosen by the Remitter. Whiles Kaymaks does its best to deliver a service within reasonable time and in the most transparent way, we also advice our customers that payments to beneficiaries may be dependent on regulations within receiving countries. However, all information needed to track the transaction is available on the receipt issued to the customer at the end of the transaction i.e.:

  • 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 identity document, inform about the number and amount of the transfer. The Receiver's point is not obliged to contact the Receiver to phone number, indicated in the Application of Transfer.

Money transfer is carried out in the interval from 1 to 10 minutes.

Payout of funds is made when Receiver’s full name – 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 a unique transfer number.

The Agent / Partner of the Remitter shall not be liable for payout refusal if there is a discrepancy between the Receiver 's information specified by the Remitter and the documents presented by the Receiver.

As a confirmation of the payout, Kaymaks / Agent / Partner issues to the Receiver a second copy of the Application for receipt of the transfer and check.

It’s possible to receive the payout in national currency of Kaymaks / Agent / Partner.

The Remitter is obliged to keep documents, confirming the transfer of funds (the second copy of the Application and the check), 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 transfer return.

Any further information needed will be provided on the website of Kaymaks Limited.

5. Payment Terms

Prices charged for the service are based on send amount, mode of payment and FX spreads.

Fees and FX rates may be revised periodically based on current market fluctuations of the GBP against other major currencies such as the USD & Euro, however your transaction will not be affected by any changes made after it is confirmed.

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 until due their due process is completed. When this happens, we will advice 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 other than cash, your transfer will only be released pending cleared funds. Customers may also have to consider bank holidays and weekends when the “faster payments” method is not used.

Kaymaks may run promotions during seasonal periods and we offer the service at reduced fees and exceptional FX rates. 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

6. Cancellation & Refunds

Customers can make a cancellation and a refund request within a reasonable period if conditions pertaining before the transaction have changed. Transactions are processed based on information provided by the Remitter and if for some reason or the other it is realized that the send provided wrong data, the customer shall receive the send amount only and not the sending fee. Customers are therefore advised to provide appropriate information when processing a transaction with Kaymaks. However, if the funds are undelivered to the beneficiary for genuine reasons beyond our control, you will get a full refund including the sending fees. Customers must fill out a cancellation form at the branch where the transaction was processed and provide an unexpired ID.

If the transfer was made through the website, the acceptance of the claims, changes and the withdrawal of the transfers are made to Kaymaks through the website. (Information on the web site - www.kmaks.co.uk).

Ideally, we try to deal with all cancellations within 1 working day but to some regulations pertaining in some countries; it could take up to 5 working days.

All refunds will be processed with the same payment mode as used at the time of processing the transaction.

7. Cancellation by Kaymaks

We may, in our absolute discretion, refuse or cancel transaction requests or transactions where we believe that the service is being used, whether by you or the Receiver, in furtherance of illegal, fraudulent or prohibited activities or we can refuse or cancel transaction requests or transactions from certain Remitters or to certain payees, including but not limited to entities and individuals on restricted or prohibited lists issued from time to time by any government authorities, 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 refuse to process a transaction funded from certain payment Instruments where we have reason to believe the security of the payment Instrument has been compromised or where we suspect the unauthorised or fraudulent use of the Payment Instrument.

We may also refuse or cancel transaction requests or transactions 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 are reasonably believing that you are using the service, or allowing it to be used, 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 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 Agent’s / Partner’s license, which was specified by the Remitter as the Receiver's Transfer Point. In this case, the Receiver must present requirements to the interim administration or the bankruptcy administrator to include its requirements in the register of creditors' claims.

8. Complaints Handling

Kaymaks Limited Ltd is committed to give the best possible service to its numerous customers. By this commitment, Kaymaks aims to attain a great deal of satisfaction from its customers whenever a complaint is received.

As the company strives to achieve the ultimate in the satisfaction of our customers, we also do realise that the service may not always go right in a very busy environment. Therefore, whenever the service falls short of the required standard, Kaymaks Limited will like to know of it immediately. Customers are therefore advised not to hesitate to inform us of a complaint whenever they feel dissatisfied as this will enable Kaymaks Limited to improve the service and make it even better than it is.

8a. Professional Assurance

Kaymaks Limited will respond promptly to your complaints within 5 working days.

Kaymaks will try as much as possible to resolve your problem within 10 working days.

The team will inform you by phone or e-mail if more time is needed up to 4 weeks.

The team will also explain the next line of action if the problem is not solved at the first time.

Each case will be dealt with in the most sincere and objective manner.

All information provided will be handled with confidentiality.

8b. Customers Responsibility

Customers can help Kaymaks to reduce the number of complaints by providing all the necessary information require 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

9. Copyright ©

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

25 Sackville Street, London-Piccadilly


E-mail : info@kmaks.co.uk

Tel – 0203 542 0926