User Agreement

1. Acceptance of this Agreement

By creating an account, issuing a virtual debit card, depositing cryptocurrency, or otherwise using the BitPay platform (collectively, the Service), you confirm that you have read, understood, and agreed to this User Agreement, the Privacy Policy, and any additional terms referenced here. If you do not agree, you must not use the Service.

This Agreement constitutes a binding legal contract between you and BitPay Labs (BitPay, we, our, or us). If you are accepting on behalf of an organization, you represent that you have authority to bind that organization, and references to you in this Agreement apply to that organization.

2. Eligibility

You must be at least 18 years of age (or the age of legal majority in your jurisdiction) to use the Service. You must not be a resident of, or located in, a country or region where use of the Service is prohibited by applicable law or by sanctions administered by your jurisdiction, the United Nations, the European Union, the United Kingdom, or the United States.

You must not be listed on any sanctions list, including the US OFAC Specially Designated Nationals list, the EU Consolidated List, or the UK Consolidated List. You must not use the Service on behalf of any person or entity that is so listed. By using the Service, you represent and warrant that you are not so listed and do not act on behalf of any person or entity that is so listed.

3. BitPay is not a bank and does not provide financial services

BitPay is a technology platform. BitPay is not a bank, not a money services business, not a payment institution, and not a financial services provider in any jurisdiction. BitPay does not hold customer funds as a bank would, does not pay interest on balances, does not lend, and does not provide any of the regulated services that a bank or licensed payment institution would provide.

The USD balance in your BitPay account represents an unsecured claim against BitPay, redeemable in supported cryptocurrency or as additional virtual card balance. This claim is not insured by any government deposit insurance scheme, not protected by any bank resolution regime, and not guaranteed by any central bank or public authority. If BitPay becomes insolvent, your USD balance is an unsecured creditor claim, pari passu with other unsecured creditors, and may not be recoverable in full.

The Service is an intermediary platform. We facilitate user interactions with cryptocurrency networks and card networks, but we do not ourselves provide the underlying services those networks provide. We do not custody cryptocurrency on behalf of users except briefly during the conversion process. We do not provide credit. We do not take deposits in the regulatory sense. We are a software platform that connects users to infrastructure, and our role is limited accordingly.

4. Your sole responsibility for card usage

You are solely and exclusively responsible for your use of the Service and for any charges, transactions, or other activity associated with your account. This responsibility includes, without limitation: ensuring that all charges you authorize are lawful in your jurisdiction; ensuring that funds you deposit are lawfully obtained and owned by you; ensuring that the merchants you transact with are lawful; maintaining the confidentiality of your account credentials; monitoring your account for unauthorized activity; complying with all tax obligations arising from your use of the Service; and reporting any proceeds, gains, or income from your use of the Service to relevant tax authorities as required by law.

You agree to use the Service only for lawful purposes. Prohibited uses include, without limitation: money laundering, terrorism financing, sanctions evasion, fraud, tax evasion, illegal gambling, drug trafficking, human trafficking, child exploitation, purchase of illegal goods, purchase of illegal services, market manipulation, insider trading, and any activity that violates applicable law in your jurisdiction or the jurisdiction of any party to the transaction.

You acknowledge and agree that BitPay does not control, and is not responsible for, the products or services purchased using the card, the conduct of merchants, or the legality of any transaction in any specific jurisdiction. Your recourse for any issue with a merchant, product, or service is with that merchant or supplier, not with BitPay.

5. Account registration and security

To use the Service, you must register an account with a valid email address and a secure password. You are responsible for maintaining the confidentiality of your account credentials and for all activity that occurs under your account. BitPay is not liable for any loss or damage arising from your failure to maintain credential security.

You agree to notify us immediately if you suspect any unauthorized access to your account. We are not responsible for losses caused by delayed notification of suspected compromise. We may, in our sole discretion, freeze accounts that show signs of compromise and reverse only confirmed unauthorized transactions.

6. Cards, limits, and freezes

Virtual debit cards issued through the Service are non-transferable, non-physical, and intended for use by the registered account holder only. Each card has per-transaction, daily, and monthly limits configurable by the account holder within the parameters of the selected tier (FREE, PRO, or CUSTOM). Limits exist to protect your account, not to constrain normal use.

BitPay may, at any time and in its sole discretion, freeze or terminate cards for reasons including, without limitation: suspected fraud, sanctions screening results, court order or legal process, regulatory request, breach of this Agreement, account inactivity, or technical necessity. Where permitted by law and by the urgency of the situation, BitPay will provide notice and an opportunity to cure before taking such action.

7. Cryptocurrency funding and conversion

You may fund your USD balance by depositing supported cryptocurrencies (currently BTC, ETH, USDT, USDC, BNB, SOL, LTC, and AVAX). Deposits are converted to USD at the exchange rate in effect at the moment of conversion, less the applicable conversion fee. Conversion rates and fees are set forth in the cabinet and on the Pricing page, and may change from time to time.

Cryptocurrency deposits are non-reversible once confirmed on the underlying blockchain. If you send cryptocurrency to a deposit address that does not belong to your BitPay account, or send a cryptocurrency that BitPay does not support, the funds may be permanently lost. BitPay is not responsible for funds sent to incorrect addresses or in unsupported cryptocurrencies.

8. Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT)

Although BitPay does not conduct customer identity verification (KYC), BitPay operates under a strict anti-money laundering (AML) and counter-terrorism financing (CFT) policy. This policy is integrated into our platform architecture and our operational practices.

Our AML/CFT policy includes: (a) continuous transaction monitoring for patterns consistent with money laundering, sanctions evasion, fraud, terrorism financing, and other financial crimes; (b) screening of cryptocurrency transactions against blockchain analytics databases that maintain lists of sanctioned addresses, darknet markets, mixers, and other high-risk entities; (c) immediate freezing of funds and accounts when suspicious activity is detected; (d) cooperation with law enforcement and regulatory authorities upon receipt of a valid legal process or regulatory request; (e) recordkeeping of all transactions for a minimum period as required by applicable law; (f) designation of a Money Laundering Reporting Officer (MLRO) responsible for compliance with this policy.

You agree that BitPay may, at its sole discretion and without prior notice to you: freeze your account, freeze your USD balance, freeze individual cards, decline specific transactions, and report transactions to relevant authorities if BitPay has reasonable grounds to suspect any breach of AML/CFT obligations. BitPay will not be liable for any loss or damage resulting from such actions taken in good faith.

BitPay operates under a policy of zero tolerance for sanctions violations. You may not use the Service to transact with any person, entity, address, or jurisdiction that is subject to economic sanctions administered by your jurisdiction, the United Nations, the European Union, the United Kingdom, or the United States.

9. No warranty of service availability

The Service is provided on an AS-IS and AS-AVAILABLE basis. BitPay does not warrant that the Service will be available without interruption, without error, or free of harmful components. BitPay does not warrant that any specific feature will function at any specific time. BitPay does not warrant that the Service will meet your specific requirements or that defects will be corrected.

BitPay may, at any time and in its sole discretion, modify, suspend, or discontinue any aspect of the Service, including: the available cryptocurrencies, the available card networks, the available tiers, the available features, the conversion fees, the limits, and the geographic availability. BitPay will endeavor to provide reasonable notice of material changes, but does not guarantee such notice.

Maintenance windows, security incidents, regulatory action, third-party service failures, blockchain network congestion, force majeure events, and other factors beyond our control may cause service interruptions. BitPay does not guarantee that the Service will be available at any specific time and disclaims all liability for service unavailability.

10. No liability for service failures

To the maximum extent permitted by applicable law, BitPay and its officers, directors, employees, agents, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including without limitation: loss of profits, loss of revenue, loss of data, loss of business opportunity, loss of goodwill, or damage to reputation, arising out of or in connection with the use of, or inability to use, the Service.

BitPay total aggregate liability for any and all claims arising out of or in connection with the Service shall not exceed the greater of: (a) the total amount of conversion fees you paid to BitPay in the 12 months preceding the event giving rise to the claim; or (b) USD $100.

BitPay is not liable for: losses caused by your failure to maintain account security; losses caused by your violation of this Agreement; losses caused by third-party actions or omissions, including card networks, liquidity providers, blockchain networks, and telecommunications providers; losses caused by market volatility in cryptocurrency or fiat currencies; losses caused by force majeure events, regulatory changes, or changes in law.

11. Fees

Fees are set forth on the Pricing page and within the cabinet. Fees may change from time to time. Changes to fees will be communicated through the cabinet and via email for active accounts. Changes take effect 30 days after notice for FREE tier accounts, 14 days for PRO tier accounts, and immediately for CUSTOM tier accounts (subject to negotiated terms).

Currency conversion fees are deducted at the moment of conversion from the gross amount. Card network fees are absorbed by BitPay for FREE and PRO tiers; CUSTOM tiers may negotiate pass-through arrangements. Withdrawal fees, if any, are deducted at the moment of withdrawal.

12. Termination

You may terminate this Agreement at any time by closing your account through the cabinet. BitPay may terminate this Agreement at any time, with or without cause, by providing 30 days notice through the cabinet or via email. BitPay may terminate immediately, without notice, for breach of this Agreement, suspected fraud, sanctions screening results, regulatory requirement, or legal process.

Upon termination: your cards are frozen; your USD balance is settled according to standard refund procedures; your account state is anonymized; your identifying data is removed from active systems within 30 days and from backups within 180 days; this Agreement survives termination for provisions that by their nature should survive, including dispute resolution, limitation of liability, and indemnification.

13. Disputes and resolution

If you have a dispute with BitPay, please contact us at your cabinet. We will respond within 30 days and work in good faith to resolve the dispute. If we cannot resolve the dispute informally, you agree that any formal legal proceedings will be conducted in the courts of our registered jurisdiction, applying the laws of that jurisdiction, except where applicable consumer protection laws provide otherwise.

BitPay does not participate in arbitration. Where arbitration is required by applicable law, disputes will be resolved by a single arbitrator under the rules of a recognized arbitration body in our registered jurisdiction.

14. Indemnification

You agree to indemnify, defend, and hold harmless BitPay and its officers, directors, employees, agents, and affiliates from and against any and all claims, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or in connection with: your use of the Service; your breach of this Agreement; your violation of any applicable law; your violation of any third-party right; or any claim that your use of the Service has caused damage to a third party.

15. Changes to this Agreement

BitPay may update this Agreement to reflect changes in the Service, the regulatory environment, or industry best practices. Material changes will be communicated through the cabinet and via email for active accounts at least 30 days before taking effect. Non-material changes (clarifications, typo fixes) do not trigger the notice period.

By continuing to use the Service after the effective date of a material change, you accept the updated Agreement. If you do not accept an updated Agreement, you may terminate this Agreement by closing your account before the effective date.

16. Severability and entire agreement

If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, that provision shall be severed and the remaining provisions shall continue in full force and effect. The severed provision shall be replaced by a valid provision that most closely reflects the original intent.

This Agreement, together with the Privacy Policy and any additional terms referenced here, constitutes the entire agreement between you and BitPay with respect to the Service and supersedes all prior or contemporaneous communications and proposals on the same subject matter.