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1.1 Prime Circle Finance (Pty) Ltd ("Prime Circle" or "the Company") is a licensed Financial Services Provider (FSP) with registration number 2021/549214/07, regulated by the Financial Sector Conduct Authority (FSCA) under FSP License Number 53768, and registered with the National Credit Regulator (NCR) under NCR Registration Number NCRCP14754 as a credit provider.
1.2 Prime Circle is an accountable institution under the Financial Intelligence Centre Act (FICA) and complies with all applicable South African laws, including the Protection of Personal Information Act (POPIA) and the Treating Customers Fairly (TCF) principles.
1.3 Prime Circle provides digital financial services primarily within South Africa. The Company operates as an independent financial services intermediary and does not assume liability for the legality, completion, or fulfilment of transactions between clients, merchants, or third parties.
1.4 The Services currently include (i) digital wallets and payment services; (ii) arbitrage products; (iii) loan products; and (iv) cryptocurrency and digital asset services, including the buying and selling of supported cryptocurrencies and stablecoins. All services are governed by these Terms and the applicable Product Terms.
1.5 The platform does not provide investment advice, credit intermediation, or asset management services. Prime Circle provides access to certain financial products, including cryptocurrency and other digital asset-related services. For the avoidance of doubt, Prime Circle may offer execution-only arbitrage, cryptocurrency, and digital asset buy/sell services, each governed by the applicable Product Terms and subject to the Company's regulatory permissions.
1.6 By using our Services, you agree to comply with these Terms, and your continued use after any updates constitutes acceptance of those changes.
2.1 For the purposes of these Terms:
2.1.1 "Client" or "User" means any individual or entity accessing or using Prime Circle's Services.
2.1.2 "Services" means all financial, digital payment, arbitrage, and cryptocurrency services offered by Prime Circle through its platforms, including, but not limited to, those detailed in Clause 4.2 below.
2.1.3 "Wallet" refers to a digital value account for storing, sending, or receiving funds, facilitated by Prime Circle but not constituting a bank deposit.
2.1.4 "Partner Bank" means a licensed financial institution contracted to hold client funds in trust or settlement accounts on behalf of Prime Circle.
2.1.5 "Digital Value" refers to electronic money or stored-value units represented in the Wallet.
3.1 You must be at least 18 years of age and possess full legal capacity to enter into binding contracts under South African law.
3.2 By registering, you warrant that you meet these eligibility requirements.
4.1 Prime Circle provides financial services through multiple channels, including:
4.1.1 The official website (https://www.primecircle.io);
4.1.2 Application Programming Interfaces (APIs) or other technical interfaces; and
4.1.3 Other tools, applications, or channels introduced by Prime Circle.
4.2 Services provided include but are not limited to:
4.2.1 Sending and receiving payments via local payment networks;
4.2.2 Digital wallets for storing, transferring, and receiving funds;
4.2.3 Loan products, where Prime Circle acts as a registered credit provider, in accordance with the National Credit Act, subject to applicable credit assessments, disclosures, and regulatory requirements;
4.2.4 Arbitrage products;
4.2.5 Integrated offshore multi-currency accounts;
4.2.6 Cryptocurrency and digital asset services, limited to execution-only buy and sell transactions of supported cryptocurrencies and stablecoins, together with related settlement and custody arrangements where applicable, subject to applicable Product Terms and regulatory permissions; and
4.2.7 Additional financial tools or services introduced at Prime Circle's discretion, subject to regulatory approval.
4.3 Prime Circle is not a bank but may provide banking services through regulated partner institutions under South African law.
4.4 Funds held in Wallets are not bank deposits and may not be protected by the Deposit Insurance Scheme. Prime Circle may hold funds in segregated trust or settlement accounts with licensed banking partners.
5.1 To use our Services, you must create an account and complete all Know Your Customer (KYC) requirements.
5.2 Required documentation includes:
5.2.1 A valid government-issued identification document or passport; and
5.2.2 Proof of residential address.
5.3 Prime Circle may request additional documentation, including source-of-funds or source-of-wealth declarations.
5.4 The Company reserves the right to refuse, suspend, or terminate account creation or access if documentation is invalid, incomplete, or inconsistent with regulatory requirements.
5.5 Clients confirm that all submitted information is true, complete, and current.
5.6 Prime Circle may perform enhanced due diligence (EDD) in line with its Risk Management and Compliance Programme (RMCP).
5.7 Where required by law, Prime Circle will conduct suitability and/or appropriateness assessments prior to offering certain products or services. Clients acknowledge that they are responsible for assessing whether a product is appropriate for their financial situation, experience, and risk tolerance.
6.1 Prime Circle is an accountable institution under the Financial Intelligence Centre Act (FICA) and must comply with Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) laws.
6.2 Prime Circle reserves the right to:
6.2.1 Request additional information or documents at any time;
6.2.2 Delay, block, or refuse transactions; and
6.2.3 Freeze or suspend accounts pending investigation.
6.3 Prime Circle will file reports with the Financial Intelligence Centre (FIC), including Suspicious Transaction Reports (STRs) or Suspicious Activity Reports (SARs), as required by law, without prior notice to clients.
6.4 Clients acknowledge and consent to these legal obligations.
7.1 Clients confirm that they are not sanctioned individuals or entities, nor Politically Exposed Persons (PEPs), unless disclosed and approved.
7.2 Transactions connected to sanctioned countries, individuals, or prohibited activities under United Nations, OFAC, or European Union sanctions are strictly prohibited.
8.1 Clients are responsible for funding their wallets or accounts.
8.2 Funding may occur via bank transfer or other payment channels supported by Prime Circle.
8.3 Prime Circle will credit a client's wallet only once funds are received and verified.
8.4 Prime Circle is not liable for delays, errors, or failures caused by third-party payment networks.
8.5 Clients confirm that all funds originate from lawful sources.
9.1 Prime Circle may charge fees for its services, including:
9.1.1 Transaction or service fees;
9.1.2 Wallet maintenance fees; and
9.1.3 Other product-related charges as applicable.
9.2 All fees will be disclosed prior to the completion of any transaction.
9.3 Prime Circle may modify its fee structure with at least thirty (30) calendar days' notice to clients.
9.4 Continued use of the Services after such notice constitutes acceptance of the revised fees.
10.1 Clients agree to use the Services lawfully and in compliance with South African law.
10.2 Clients must maintain the confidentiality and security of their account credentials.
10.3 Clients must notify Prime Circle immediately at support@primecircle.africa of any unauthorized or suspicious activity.
10.4 Clients accept the operational risks associated with digital transactions, including potential system delays or technical interruptions.
11.1 If a client suspects unauthorized use of their account, they must contact Prime Circle immediately at support@primecircle.africa.
11.2 Clients remain responsible for all transactions conducted through their accounts until a report is received and verified by Prime Circle.
12.1 Prime Circle may refuse, reverse, suspend, or terminate any transaction or account where:
12.1.1 Required by regulation or law;
12.1.2 Fraud or suspicious activity is detected; or
12.1.3 There is non-compliance with AML, CFT, or sanctions obligations.
12.2 Such action may occur without prior notice where legally necessary or justified.
13.1 Prime Circle adheres to the FSCA's Treating Customers Fairly (TCF) principles, ensuring that:
13.1.1 Clients receive clear, accurate, and balanced information before, during, and after contracting;
13.1.2 Products and services perform as reasonably expected; and
13.1.3 Clients do not face unreasonable barriers to change products, switch providers, or submit complaints.
14.1 Clients may lodge written complaints with Prime Circle at complaints@primecircle.africa.
14.2 Prime Circle will acknowledge, investigate, and attempt to resolve complaints promptly and fairly in accordance with the Financial Advisory and Intermediary Services Act (FAIS).
14.3 If a complaint remains unresolved, the client may escalate it to the FAIS Ombud through www.faisombud.co.za.
15.1 Prime Circle provides its Services on an "as is" basis and makes no warranty, express or implied, regarding availability, reliability, or performance.
15.2 Prime Circle is not liable for:
15.2.1 Delays, interruptions, or failures caused by third-party systems; or
15.2.2 Losses resulting from unauthorized access where notification was not promptly provided.
15.3 Prime Circle's liability is limited to the extent permitted by South African law.
15A.1 Clients acknowledge that financial products offered by Prime Circle, including loans, arbitrage products, offshore accounts, and cryptocurrency transactions, involve inherent risks, including market volatility, liquidity constraints, operational failures, regulatory changes, cybersecurity threats, and potential partial or total loss of capital. Past performance is not indicative of future results.
16.1 Prime Circle may update these Terms at any time.
16.2 Material changes, including amendments to fees, services, or client obligations, will be communicated to clients at least thirty (30) calendar days in advance via the website, App, or email.
16.3 Minor or administrative updates that do not materially affect client rights may take effect immediately upon publication.
16.4 Continued use of the Services after notice of changes constitutes acceptance of the updated Terms.
17.1 These Terms are governed by and construed in accordance with the laws of the Republic of South Africa.
17.2 Any dispute arising from or related to these Terms shall be resolved exclusively in the courts of South Africa.
Prime Circle Finance (Pty) Ltd recognises the protection of personal information (privacy) as an important responsibility and as such, this Privacy Notice aims to describe our privacy practices - including the ways in which we collect, use, disclose and protect your personal information.
This Privacy Notice applies to all our services, products, and any platforms we may use. When we refer to platforms, we refer to websites, mobile sites or apps, social media platforms or any other technology or mechanism you may use to interact with us.
This Privacy Notice will be reviewed periodically and may change from time to time.
The types of information that we may collect and process will include (but is not limited to):
We will only collect information which is necessary for our legitimate business interests or required in terms of the law.
This information may be collected when you purchase a product through us, request assistance with a service, fill in a form (paper or electronic), when you contact us and provide the information directly.
Your personal information may only be processed by us for the purpose for which it was provided. This will include:
We will only share your information with approved third-party providers where necessary for the purpose agreed to by yourself or to government or law enforcement agencies where the law requires that we disclose it.
We make use of reputable service providers to ensure that care is taken to protect your information and also that we can restore the data should there be a technical problem. Client information is kept in hard copy format and electronically on an external hard drive / cloud-based server.
When we communicate with you, we will do this by electronic mail wherever possible, and where this is not possible, using the South African postal service.
We will take reasonable measures to ensure the security of the documents sent to you, but we cannot be held liable for any unauthorised access or disclosure of your information once it has been sent.
You acknowledge that your information will be stored by us. We will only process and retain your information for as long as the purpose for which we collected it continues to be relevant, or we are required to comply with legal or regulatory requirements or to protect our legal interests. This may mean that your information is retained for longer than the minimum time set out by the law.
You have the right to request that we correct, destroy, or delete any personal information that we processed for you. This would be information that is inaccurate, irrelevant, out of date, incomplete, misleading, obtained without your permission or that we are no longer authorised to retain.
You can withdraw your permission for us to use your information at any time provided that it does not affect the processing of your personal information:
You can object to the processing of your personal information at any time on reasonable grounds:
You have the right to submit a complaint to the Information Regulator at inforeg@justice.gov.za, regarding an alleged interference with the protection of your personal information.
You have the right to institute civil proceedings regarding an alleged interference with the protection of your personal information processed in accordance with this policy.
If you have any questions or concerns with regards to this Privacy Policy, please contact us at support@primecircle.africa.