Terms Of Service

Introduction

Welcome to Cash For My Gift Card! By accessing our website and utilizing our services, you indicate your agreement to comply with the following Terms of Service. It is essential to carefully read and understand these terms before proceeding.

1. Risk Management Policy

• Cash For My Gift Card conducts regular risk assessments to diligently identify and evaluate potential risks associated with its operations, customers, and transactions.
• We maintain a comprehensive Customer Due Diligence (CDD) program to meticulously verify the identity of our customers. This includes the collection of pertinent information such as names, addresses, and valid identification documents.
• We presently refrain from engaging with high-risk customers and transactions.

2. Transaction Monitoring

• To adhere to Anti-Money Laundering (AML), Know Your Customer (KYC), and Bank Secrecy Act (BSA) regulations, we employ a robust transaction monitoring program. This initiative aids in detecting and promptly reporting any suspicious activities.

3. Reporting and Record Keeping

• Cash For My Gift Card meticulously maintains accurate records of all transactions and customer data as mandated by relevant regulatory authorities.
• We are committed to fulfilling reporting requirements, which may involve submitting Suspicious Activity Reports (SARs) and other obligatory reports when warranted.

4. Training and Education

• While our team is presently limited, we are dedicated to providing comprehensive training to our future staff as we expand. This training will encompass a thorough understanding of Money Services Business (MSB) regulations, company policies, and operational procedures.
• A specific focus on recognizing and reporting suspicious activities will be an integral part of our training curriculum.

5. Internal Controls

• We have established a robust set of internal controls to ensure stringent compliance with regulatory mandates and mitigate potential risks.
• Our internal controls are subject to regular reviews and assessments to maintain their effectiveness.

Identity Verification Procedures

1. Customer Verification

• We utilize IDscan.net to meticulously carry out identity verification procedures. This involves rigorous scrutiny of identification documents and cross-referencing customer data.
• If any match is identified in our criminal and watchlist databases, the transaction will be declined.

2. Risk Assessment

• Our customers’ risk level is assessed based on the nature and purpose of their business relationship. Transactions are consistently monitored for any signs of suspicious activity.

3. Customer Database

• We impose transaction limitations, both in terms of volume and value, on customers who have previously conducted transactions with us. This is a preventive measure against money laundering and fraudulent activities.

4. Suspicious Activity Report

• Transactions exceeding $2,000 that raise red flags or present questionable answers will lead to the submission of a FinCEN 111 (SAR-MSB) form.

5. Account Verification

• Customers are required to provide conclusive evidence that the receiving account belongs to them and aligns with the name provided on their submitted identification.

6. Sales Portal

• Eligible customers can utilize our sales portal on the website to input their gift card information.

7. Secure Transfer

• After receiving transaction approval, funds are securely transferred from our business’s checking account via trusted third-party instant transfer systems such as Zelle, Apple Pay, Venmo, or Cash App.

8. Secure Record Keeping

• All transaction information is meticulously recorded and accessible only to authorized personnel through secure means.

9. Annual Audit

• We subject ourselves to an external audit on an annual basis to validate our adherence to regulations and industry best practices.

Acceptance of Terms

By accessing and using the Cash For My Gift Card website and services, you acknowledge and accept these rules, regulations, and procedures. Failure to comply with these terms may result in the termination of services. These Terms of Service may be updated at any time without prior notice. Regularly review this page to stay informed about any changes.

Contact Us

For any questions or concerns regarding these Terms of Service, please reach out to us at the following email address:

Email: support@cashformygiftcard.com

             joe@cashformygiftcard.com

Phone: (661) 753-7556

Agreement

By utilizing our services, you signify your agreement with the terms and conditions outlined within these Terms of Service.

Thank you for selecting Cash For My Gift Card!