Terms of use

Last Updated: March 2026

1. Acceptance of the Terms of Use

These Terms of Use are entered into by and between you ("User", "you") and Banqeta Pty Ltd, a company incorporated under the laws of Australia (ABN 81 661 222 500) ("Company", "we", "us").

Banqeta Pty Ltd contracts regulated providers including Layer 2 Financial Inc. (trading as Rail, a Ripple company), Stripe Pty Limited, Intercash Holding Ltd, Visa Inc and Google Cloud Inc to provide specific services described in these Terms.

The following terms and conditions, together with any documents expressly incorporated by reference (collectively, these "Terms of Use"), govern your access to and use of www.banqeta.com ("Website"), including any associated mobile applications ("Applications"), content, functionality and services offered on or through the Website and Applications (collectively, the "Product").

By using the Website or any Product, or by clicking to accept or agree to the Terms of Use when prompted, you accept and agree to be bound by these Terms of Use and by our Privacy Policy, incorporated by reference.

If you do not agree to these Terms of Use or the Privacy Policy, you must not access or use the Website, Application or any Product.

2. Relationship with Regulated Providers

Banqeta provides access to multi-currency accounts, digital currency wallets and virtual Visa cards through its technology platform.

Traditional currency accounts and digital currency wallets are provided and operated by Layer 2 Financial Inc. (trading as Rail), a regulated financial services provider and a Ripple company. By opening and using such accounts or wallets, you acknowledge and agree to be bound by Rail's terms and privacy policy, which govern those parts of the service:

https://legal.rail.io/legal/customeragreement/

https://legal.rail.io/legal/privacy/

Virtual Visa cards are provided through our card technology partner Intercash Holdings Ltd. Intercash is an authorised BIN sponsor and programme manager for e-money regulated issuers and the Visa network.

Banqeta does not hold client funds, issue payment cards or perform regulated financial activities. Banqeta acts as a technology and customer interface provider facilitating access to regulated partner services. All funds, accounts and digital assets are held and safeguarded by regulated partners in accordance with applicable regulatory obligations.

3. Who May Use the Website

The Website and related services are available only to individuals and entities who are at least 18 years of age and are legally permitted to use the services under the laws of their country of residence.

By using the Website you represent and warrant that you meet these criteria and are not subject to sanctions or legal restrictions that would prohibit your use of the services.

4. Content and Intended Use

We may modify the Website, Products or content at any time without notice. The Website and associated materials are provided "as is" and "as available". Content is for informational purposes only and does not constitute legal, financial or investment advice.

5. Reliance on Third Party Content

The Website may include content supplied by third parties including partners such as Rail, Stripe, Intercash, Google and Visa. Banqeta does not control or verify such content and disclaims responsibility for its accuracy or completeness. Any relationship with third party providers is governed by their own agreements.

6. Services

Banqeta provides access to traditional currency accounts, digital currency wallets, virtual Visa cards, global payments and transfers, currency and digital asset exchange functionality, and subscription access to the Banqeta platform dashboard.

Traditional and digital currency accounts and virtual Visa cards operate under the regulatory framework of the relevant licensed partner as described in Section 2.

6A. Transaction Requests for Information

As part of Banqeta's obligations to its regulated partners, transactions may be subject to a Request for Information (RFI). An RFI is a compliance-driven requirement for additional context or supporting documentation relating to a payment. RFIs may be triggered at any point in the payment process, including before a payment is accepted, during processing, or following completion.

Where an RFI is issued, the standard payment timeline is suspended until the RFI is fully resolved. You are required to respond to any RFI within five business days of notification. Failure to respond within this period may result in the cancellation of the transaction and the suspension of your account.

RFIs cannot be cancelled once triggered and must be resolved before the relevant payment can proceed. Any open RFI may affect the processing of other transactions on your account during the resolution period.

You are responsible for maintaining supporting documentation for transactions, including invoices, source of funds evidence, and documentation of the relationship between payment parties, and for providing this promptly upon request.

For full guidance on RFIs, how to prepare for them, and what documentation may be required, see our Transaction RFI Guide at www.banqeta.com/support/transaction-rfi.

7. Fiat Currency Accounts and Fiat to Fiat Exchanges

Banqeta provides access to traditional currency accounts through regulated partners. As of the date of these Terms the platform supports the following fiat currencies: USD (United States Dollar), GBP (British Pound Sterling) and EUR (Euro). Additional currencies may be introduced from time to time. Banqeta reserves the right to add, modify or remove supported fiat currencies.

Users may perform Fiat to Fiat exchanges between different fiat accounts they hold within the Banqeta platform. Currently supported exchanges allow conversion between USD, GBP and EUR accounts held by the same user.

To facilitate settlement, Fiat to Fiat exchanges may be routed internally through a supported digital asset wallet. Where this occurs the transaction will appear in the user's transaction history under the relevant currencies. Fiat to Fiat exchanges occur solely between accounts held by the same user and cannot be executed externally.

8. Supported Digital Currencies, Networks and Exchange Pairs

Banqeta provides access to digital currency wallets through regulated partners. As of the date of these Terms the platform supports digital assets across the following blockchain networks: Bitcoin, Ethereum, XRP Ledger, Solana and Tron.

Supported digital assets include BTC on the Bitcoin network. ETH, USDC, USDT, RLUSD and EURC on Ethereum. RLUSD on the XRP Ledger. USDC on Solana. USDT on Tron.

Banqeta may add supported assets or networks from time to time.

Digital asset exchanges are subject to supported exchange pairs which define the assets that may be exchanged with supported fiat currencies. The current supported exchange pairs are as follows.

Bitcoin: BTC/USD. Ethereum: ETH/USD, USDC/USD, USDT/USD, RLUSD/USD, EURC/USD, USDC/EUR, USDT/EUR, USDC/GBP, USDT/GBP. XRP Ledger: RLUSD/USD. Solana: USDC/USD, USDC/EUR, USDC/GBP. Tron: USDT/USD, USDT/EUR, USDT/GBP.

Supported fiat currencies for exchange currently include USD, EUR and GBP. Exchange functionality is limited to the pairs available within the platform at the time of transaction.

9. Subscription Model and Payment Terms

Services operate on a subscription basis. Subscription pricing is available at www.banqeta.com/pricing. Subscriptions provide platform access for one month from activation.

Accounts may be suspended after 7 days of non-payment. Where an account remains inactive and unpaid for a continuous period of twelve months, Banqeta reserves the right to terminate the account following written notice to the registered email address. Refunds are not provided for unused subscription periods.

9A. Subscription Authorisation and Chargeback Policy

By completing the account registration process and checking the box confirming acceptance of these Terms of Use, you expressly authorise Banqeta to charge the payment method provided at signup, or any updated payment method subsequently added to your account profile, for the applicable monthly subscription fee on a recurring basis. This authorisation remains in effect until you cancel your subscription in accordance with these Terms.

You acknowledge that subscription fees are charged automatically at the start of each billing period and that you have reviewed and accepted the applicable pricing as set out at www.banqeta.com/pricing prior to completing registration.

Refunds are not provided for subscription fees already charged. Where a subscription is cancelled, access to the platform continues until the end of the current billing period. No partial refunds are issued for unused portions of a billing period.

Where you believe a subscription charge has been made in error or without your authorisation, you agree to contact Banqeta at hello@banqeta.com within 14 days of the charge and allow a period of five business days for investigation and resolution before initiating any dispute with your card issuer. Banqeta will use reasonable endeavours to resolve any billing error promptly and in good faith.

This clause does not affect any rights you may have under applicable consumer protection laws or card network rules.

10. Pricing and Service Changes

Banqeta may revise pricing or introduce new fees. Changes will normally be communicated at least 30 days before taking effect. Continued use of the platform following such notification constitutes acceptance of the updated pricing.

11. Privacy

Use of the platform is governed by our Privacy Policy, available at www.banqeta.com/privacy-policy. Customer data may be shared with regulated partners for verification and compliance purposes.

12. Account Security

Users are responsible for maintaining the security of their login credentials. Users must notify Banqeta immediately at hello@banqeta.com if they become aware of any unauthorised access to or use of their account.

13. Restricted Jurisdictions

Banqeta does not onboard companies or entities incorporated or registered in Australia or New Zealand. Ultimate beneficial owners who are residents or nationals of Australia or New Zealand are not restricted from being onboarded as part of an eligible entity incorporated elsewhere.

Banqeta cannot onboard entities incorporated or registered in the following jurisdictions: Abkhazia, Afghanistan, Albania, Angola, Belarus, Bosnia and Herzegovina, Burma (Myanmar), Burundi, Central African Republic, Cuba, Democratic People's Republic of Korea (North Korea), Democratic Republic of the Congo, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Ivory Coast (Côte d'Ivoire), Kosovo, Lebanon, Liberia, Libya, Macedonia, Mali, Myanmar (Burma), Nagorno-Karabakh, Nicaragua, Northern Cyprus, Pakistan, Russia, Sahrawi Arab Democratic Republic, Serbia, Sierra Leone, Somalia, Somaliland, South Ossetia, South Sudan, Sudan, Syria, Ukraine, Venezuela, Yemen and Zimbabwe.

This list may be updated from time to time to reflect changes in applicable law, regulatory requirements or provider obligations. Continued use of the platform constitutes acceptance of any updated list.

14. Prohibited Businesses

Use of Banqeta services is prohibited for the following businesses and activities. This list reflects the requirements of our regulated partners and will be updated from time to time.

Illegal activities including illegal drugs or drug paraphernalia, fake identification services, telecommunications jamming devices, and any business that promotes or facilitates unlawful violence.

Unlicensed financial services including unlicensed money transmission and digital asset exchange. Cryptocurrency mixing, tumbling or anonymizing services.

Intellectual property infringement including counterfeit goods, unauthorised sale of licensed materials including music, software and film, and any goods or services that infringe third party intellectual property rights.

Deceptive or predatory practices including pyramid schemes, multi-level marketing, get rich quick schemes, negative response marketing, telemarketing, predatory lending or mortgage services, essay mills, mugshot publication sites, and remote technical support services.

Adult entertainment including pornography, escort services, adult live chat, strip clubs and online dating services.

Certain legal services including bail bond services, bankruptcy attorneys and law firms collecting funds for purposes other than legal service fees.

Firearms, explosives and hazardous materials including weapons, ammunition, fireworks, peptides, research chemicals and precious metals trading as principal.

Gambling and cash-intensive businesses including games of chance, lotteries, sweepstakes, fantasy sports leagues with monetary prizes, sports odds making, bidding fee auctions and cryptocurrency ATMs in high risk jurisdictions.

Marijuana and cannabis products and dispensaries where prohibited by applicable law.

This list is not exhaustive. Banqeta reserves the right to refuse service to any business it considers to present an unacceptable risk, and will update this list to reflect changes in regulatory or partner requirements. Continued use of the platform following any update constitutes acceptance of the revised list.

15. Digital Asset Risk Disclosure

Digital assets are subject to significant price volatility and may lose value rapidly. Blockchain transactions are irreversible once confirmed on the relevant network. Banqeta does not provide investment, financial or tax advice in relation to digital assets. Users accept full responsibility for all digital asset transactions initiated through the platform and should seek independent advice before transacting.

16. Incorrect Wallet Address and User Error

Users are solely responsible for verifying wallet addresses and network compatibility before initiating any transaction. Transactions sent to incorrect addresses or incompatible networks may be irreversible and result in permanent loss of funds. Banqeta is not responsible for any losses resulting from incorrect wallet addresses, incorrect network selection or any other user-initiated errors.

17. Third Party Infrastructure

Banqeta relies on third party systems including payment rails, blockchain networks and custody providers. Banqeta cannot guarantee uninterrupted service where these systems experience disruption, maintenance or failure. Banqeta will use reasonable endeavours to notify users of known disruptions where practicable.

18. Limitation of Liability

Banqeta is not responsible for losses arising from services provided by third party regulated partners. To the fullest extent permitted by applicable law, Banqeta's total aggregate liability to any user arising out of or in connection with these Terms shall not exceed the total fees paid by that user to Banqeta in the twelve months preceding the event giving rise to the claim.

19. Dispute Resolution

In the event of any dispute arising out of or in connection with these Terms, you agree to contact Banqeta at hello@banqeta.com in the first instance and allow a period of twenty business days for good faith resolution before pursuing any formal legal remedy.

20. Complaints

Complaints may be submitted to hello@banqeta.com. Where required, complaints may be escalated to or shared with our regulated partners for investigation and resolution.

21. Governing Law

These Terms are governed by the laws of Australia. Any dispute not resolved through the process in Section 19 shall be subject to the exclusive jurisdiction of the courts of Australia.

22. Entire Agreement

These Terms together with the Privacy Policy and applicable third party partner agreements constitute the entire agreement between the user and Banqeta Pty Ltd in relation to the subject matter hereof and supersede all prior understandings and agreements.