Region: USA

Upd: Aug 20, 2021

1. Welcome 

1.1 This page sets out the terms and conditions that apply to the Wirex native loyalty point, “X-Points” and its use on the Wirex Service. 

1.2 By using the Wirex Service, you shall be deemed to have accepted these terms and conditions.  

1.3 Wirex Users resident in the United States of America (“US Users”) cannot transfer X-Points out of the Wirex Service nor can US Users hold, exchange or transfer Wirex’s native token “WXT”. 

1.4 These terms, combined with the Wirex General Terms of Service, the Cryptoasset Terms, and any other documents referred to in these terms (the "X-Points Terms"), set out the legal agreement between: 

(a) You, as the Wirex user; and 

(b) The Wirex company that provides you with Cryptoasset Services as defined in the Wirex General Terms of Service ("Wirex", or "we", "our", or "us"). 

1.5 Capitalised terms defined in the Wirex General Terms of Service (the "Terms") have the same meanings when they are used in these Cryptoasset Terms. 

1.6 Please read these X-Points Terms carefully and make sure you understand and agree to them. 

1.7 X-Points are void where prohibited by law. 

1.8 Definitions: 

(a) “APR” means annual percentage rate (which is used to calculate projected rewards on X-Points Balances). 

(b) “Free Subscription” means the Standard (free) plan, the details of which are set out in Section 3.1 as amended and updated from time to time).  

(c) “Paid Subscription” means any 12-month agreement between User and Wirex, which can be (depending on the plan selected) paid monthly or upfront (annually). There are 2 Paid Subscription plans - Premium (paid) and Elite (paid), the details of which are set out in Section 3.1 (as amended and updated from time to time).

(d) “Promotion” means any special offer for Users with a new Premium and/or Elite subscription published on the website (https://wirexapp.com/us/en/) and updated by Wirex from time to time. 

(e) “Subscription” means any Free Subscription or Paid Subscription. 

(f) “Wirex General Terms of Service” means the Wirex terms at https://wirexapp.com/us/en/terms-and-conditions.  

2. What are X-Points? 

2.1 X-Points are the Wirex platform native loyalty point in the United States of America and are designed as a for the benefit of US Users. 

2.2 X-Points have a fixed nominal value of $0.01 each which applies when Wirex US Users exchange X-Points for fiat or cryptocurrencies available on the United States Wirex Service. 

2.3 X-Points are a loyalty point, and cannot be transferred outside of the Wirex Service. X-Points are not a cryptocurrency, token, or other technology which can be transferred or used outside of the Wirex Service. For the avoidance of doubt, X-Points are a separate loyalty scheme from Wirex’s native token, “WXT”.  Additionally, X-Points do not represent any ownership interest in Wirex or affiliated entities.   

3. X-Points Rewards Subscription 

3.1 Your Paid Subscription for X-Points Rewards is a 12-month agreement between you and Wirex, which can be (depending on the Paid Subscription availed) paid monthly or upfront. There are three types of Paid Subscription, and the monthly charges (where applicable) and benefits of each can be seen below:

Price Plan Standard Premium Elite
Monthly price $0 $9.99 $29.99
Annual Price $0 $102 $306
Cryptoback™Rewards 2% 4% 8%

3.2 You can upgrade your Paid Subscription via the Wirex app at any time. This upgrade is subject to the provision at clause 4.4 of these Terms.  

3.3 Paid Subscriptions 

(a) Paid Subscriptions are active for one year (12 calendar months). For example, if a user pays for a Paid Subscription on 7 November 2020, their Paid Subscription will be valid until 6 November 2021. 

(b) A 15% discount is provided to customers who wish to pay for their Paid Subscriptions upfront for the 12-month term. Otherwise, the monthly fees set out at clause 3.1 of these Terms apply. 

(c) If a user wishes to upgrade their Paid Subscription above their existing Paid Subscription, they can do so via the Wirex app at any time. If they wish to upgrade their Paid Subscription, the User will be invalidating their existing Paid Subscription. A new Paid Subscription term will then be created for the User, and the 12-month period restarts at the point of the Paid Subscription upgrade. 

4. Upgrading or Downgrading your Paid Subscription 

4.1 You have the right to withdraw from a Paid Subscription and move to the Free Subscription for a period of 14 calendar days after the start of the Paid Subscription (the ‘Cooling Off Period’). The Cooling Off Period commences on the day that your Paid Subscription is activated and ends 14 calendar days later. If you decide to withdraw from the Paid Subscription during the Cooling Off Period you will receive a full refund. However, your right to a refund will be waived if you make a transaction of any kind during the Cooling Off Period. 

4.2 If you wish to downgrade your Paid Subscription to a Free Subscription you have the right to do this without paying a Break Fee during the first 90 days from the day that your Paid Subscription is activated (the ‘Introductory Period’). To do so please email us at supportescalation@wirexapp.com with “Subscription Downgrade to Standard” (or wording of similar effect) in the subject line.    

4.3 If you have had a Premium or Elite Paid Subscription and have subsequently downgraded, you can upgrade again at any time. However, if your downgrade occurred less than 12 months ago, the Introductory Period and its terms do not apply. You can downgrade your Paid Subscription to the Free Subscription at any time by contacting the Wirex Support team. However:  

(a) if you wish to downgrade within the first 10 months of your Paid Subscription period (but after any applicable Introductory Period) Wirex will charge a fee which equals to 1 month’s Paid Subscription fee ie., 999 X-Points for Premium and 2,999 for Elite (‘Break Fee’).  

(b) If you wish to downgrade 2 months (or less) before your annual contract expires, Wirex will not charge a Break Fee; it will only charge for payment due for the current period.  

4.4 If you do not actively downgrade your Paid Subscription to the Free Subscription at least 1 day before the next period of your Subscription begins, it will be assumed that you wish to continue with your existing subscription and any Paid Subscriptions that have not been downgraded to Free Subscription will be renewed on the same basis. For instance, if you do not actively cancel your Paid Subscription which is due to start on 10 December 2020, your Paid Subscription will renew on that date and will subsist until 9 December 2021.  

4.5 If a user wishes to upgrade their Paid Subscription, for example from a Premium to an Elite subscription, a new Paid Subscription term will start, and the previous Paid Subscription will be cancelled.  

4.6 If a User does not hold sufficient funds in their Wirex account to pay the fee for their Paid Subscription, they will have 2 weeks after this where they can continue to use the benefits of their existing Paid Subscription at no cost (‘Preferential Period’), to give the user time to top-up their X-Points balance before turning off their Paid Subscription benefits. If no top-up is made by the end of the Preferential Period, your Paid Subscription will be temporarily frozen i.e.., the user cannot use any Paid Subscription benefits, and will be limited to those available on the Free Subscription.  

4.7 If no top-up is made for 3 consecutive months and you are paying monthly for a Paid Subscription, you will be automatically downgraded to a Free Subscription. Should a User wish to restart their Paid Subscription following the automatic downgrade, they can do so via the Wirex app. 

5. How to obtain X-Points and eligibility matters 

5.1 X-Points are made available to Wirex users through the Wirex Service.  

5.2 The rewards set out at clause 3 above are available to users of the Wirex Service where they have been verified in accordance with the General Terms.   

6. Important limitations on Subscriptions 

6.1 A number of merchant transactions are excluded from the Subscription programme. Further details can be found at this link: https://wirexapp.com/us/en/help/article/cryptobacktm-exceptions-0820.

6.2 The amount of Cryptoback™ which can be awarded through this Subscription programme will be capped; these limits will be dependent on the Subscription selected by you. Further information can be found on https://wirexapp.com/us/en/help/article/wirex-cryptoback-program-0821

6.3 If you have not downgraded your Paid Subscription pursuant to clause 4 of these Terms and you have not paid the fees for your Paid Subscription, Wirex reserves the right to auto-convert your funds from any existing wallet you have with Wirex to ensure that those fees are met accordingly. If this action is required to be taken by Wirex, Wirex will charge a handling fee which equals 25% of your Paid Subscription price. 

7. Tax  

7.1 X-Points may be subject to tax in your jurisdiction. You are responsible for paying any tax due on any X-Points you hold in your Wirex account. You should seek professional advice if you are unsure about whether you need to pay any tax and/ or how much tax you need to pay. Wirex will not be responsible to you for any amounts you are required to pay in tax or any penalties you face in connection with your purchase or receipt of X-Points.  

8. Changes to X-Points Rewards 

Changes to X-Points Rewards may happen at any time without notice to you. Where possible, we’ll give you one month’s notice before making changes to the X-Points Rewards.   

9. Important limitations on your X-Points holdings 

9.1 All orders for X-Points on the Wirex platform are subject to acceptance by us. We will need to conduct certain checks in order to verify your identity before you can use X-Points via the Wirex Service. 

9.2 X-Points are intended to be used only in connection with the Wirex Service.X-Points have no value outside the Wirex Service.  

9.3 The purchase of X-Points may not be subject to the protections of any laws or regulations in the country where you live governing the purchase and sale of financial products. You may therefore not be able to benefit from the same protections you might have under applicable laws as you might do when you buy other financial products.  

9.4 You are responsible for keeping your user account details secure. You should never give your user account details to any other person, as this will enable them to execute transactions using your account. Wirex will not be responsible for any losses you might suffer from disclosing your user account details to another person (whether intentionally or accidentally) or any unlawful access to your Wirex user account by another person.  

9.5 If you lose your Wirex user account details you may not be able to access or use your X-Points. We may not be able to recover any X-Points to you, and you will be responsible for any losses you might suffer as a result.  

10. Limitation of Liability 

10.1 Wirex reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently, the X-Points Rewards with or without prior notice due to reasons outside its control (including, without limitation, in the case of anticipated, suspected or actual fraud). 

10.2 We may also modify or discontinue the X-Points Rewards on reasonable notice to you. If we discontinue the X-Points Rewards, we will, subject to this paragraph 6.2, honour any X-Points Rewards for which you became eligible prior to 11:59 pm Eastern time on the last date of the X-Points Rewards being available. 

10.3 Wirex accepts no responsibility for any loss or damage incurred or suffered by you as a result of availing the X-Points Rewards or accepting or using any X-Points Rewards, including (but not limited to) any loss resulting from the following: 

(a) any postponement or cancellation of the X-Points Rewards, or any delay in crediting any X-Points Rewards to your Wirex Profile; 

(b) any alteration, unauthorised access, damage, late delivery or non-delivery of any notices, acceptances, requests or other documents related to the X-Points Rewards; 

(c) any damage to your or any other person's computer relating to or resulting from availing the X-Points Rewards. 

10.4 Nothing in these X-Points Terms shall exclude the liability of Wirex for death, personal injury, fraud or fraudulent misrepresentation as a result of its negligence, or any other matter for which the law does not allow us to exclude or limit our liability. 

11. Your personal details 

11.1 Please see our Privacy Policy for more information about how we handle your information. 

12. Disclaimers 

12.1 This product does not constitute a ‘deposit’ under applicable law; and 

12.2 Any APR a user earns from the Subscription can only be earned in X-Points. For the avoidance of doubt, no APR can be earned on fiat currency. 

13. General 

13.1 We intend to rely on these X-Points Terms as setting out the written terms of our agreement with you for your availing of the X-Points Rewards. If part of these X-Points Terms cannot be enforced then the remainder of the X-Points Terms will still apply to our relationship. 

13.2 If you have any questions about X-Points and the X-Points Rewards, please email us at supportescalation@wirexapp.com with "X-Points" in the subject line. 

13.3 X-Points Rewards will be governed by the laws of Delaware. The courts of Delaware will have exclusive jurisdiction over any dispute arising from or related to the X-Points Rewards.