Terms and Conditions


1.1 We are UAB Stanhope Financial. Throughout these terms, we refer to UAB Stanhope Financial as “Stanhope”, “we”, “us” or “our”.

1.2 UAB STANHOPE FINANCIAL is a private limited company registered in Lithuania with company registration number 305574870. Our registered office is at Upės str. 23, Vilnius, Lithuania.

1.3 UAB STANHOPE FINANCIAL is a licensed electronic money institution (Electronic money institution license number 78). We are authorised by the Bank of Lithuania to issue electronic money and provide certain payment services.


2.1 You can contact us by:

Post: To our registered office

Phone: +370 650 17900

Email:  [email protected]

Online: Secure messaging through our online Platforms.

2.2 Our office hours are 09.00 to 18.00 in Lithuania, Monday to Friday. We call these days “Working Days”. You can call us any time during these hours on Working Days.

2.3 Our website details other ways you can get in touch with us and has details of our branch offices in other countries https://shpayments.com/  


3.1 We may contact you by telephone, email or through one of our Platforms using the details you provide to us. Our “Platforms” include our website and other web applications through which we provide our services, including any mobile or tablet applications that we offer.

3.2 All communications between us will be in English.

3.3 We may record and monitor telephone conversations that we have with you. These recordings will be stored in accordance with our legal obligations and our privacy policy. We may use these recordings in accordance with our privacy policy; as evidence of instructions given to us or other communications between us; and for quality assurance, training, fraud prevention and compliance purposes.

3.4 Monthly statements of your account may be provided to you by email and are available for download via our Platforms.


4.1 You are entering into a legally binding agreement by using our services. The agreement will commence on the day you first use our services and will end when terminated in accordance with paragraph 16. The agreement between you and us (which we call the “Terms”) consists of:

4.2. You should only use our services if you agree with our terms and conditions. 

4.3. We may change the Terms at any time but will give you two months’ notice before the changes take effect (subject to compliance with legal requirements). You may terminate your agreement with us immediately and without charge if we change the Terms by giving us written notice, otherwise you shall be deemed to have accepted the changes.


We provide foreign exchange and payment services to individuals and businesses. We only buy and sell currency for trade, commercial or other non-speculative purposes. You must not use our services for speculative or trading purposes. We do not offer or provide advice or investment services of any nature.


You must be at least 18 years old to use our services. You must only operate your account in your own name and not on behalf of any other person that you have not disclosed to us. We do not offer our services in any jurisdictions where we do not have the necessary licences or approvals.


6.1 You can apply to use our services by completing the account opening form that can be sent to you on request, which you can send back to us by post or email.

6.2 Once we have received your completed account opening form, we will make various checks (KYC, AML etc.) to ensure you are eligible for our services, and to comply with our legal obligations. We may have to ask you for additional information or documents.

6.3 You must provide us with true, complete, and accurate information. You must also update us of any changes to such information promptly. We will rely on the information you provide to us.

6.4 We will let you know once we have accepted your application and opened an account for you. We may refuse to accept your application without giving you any explanation.

6.5 Business clients must specify an authorised person or persons to operate their account. We call such person(s) “Users”. You will be responsible for the acts (or omissions) of any other person you authorise to act on your behalf as if they were your own. We will not be responsible for any act (or failure to act) of anyone you authorise to operate your account, if we did not know or reasonably suspect they were acting dishonestly. You should ensure all Users comply with the obligations on you under these Terms.

6.6 You must keep your email account(s) and other online accounts secure as we will act on instructions we reasonably believe to be from you. You must use up to date anti-virus software and ensure any information you send to us is free from viruses. You must not introduce viruses to our Platforms or other systems.


7.1 When you wish to effect a currency exchange, we call this an “Order”. We will agree the date on which you wish us to transfer the relevant funds and process the Order. We call this the “Value Date”.

7.2 When you place an Order, it will be:

7.3 The outstanding settlement of an Order must be paid on or before the Value Date.

7.4 Our exchange rates are based on foreign exchange markets which can change at any time. As such, exchange rates may vary immediately without notice.


8.1 When you wish us to make a payment, we call this a “Payment Instruction”.

8.2 You can provide Payment Instructions by email or through one of our Platforms.

8.3 When placing a Payment Instruction, we will use all efforts to verify your identity based on the information we hold about you. When you place a Payment Instruction, we will need to identify you as an authorised User of the account. We may ask you various questions or perform various checks to confirm your identity. We will accept Payment Instructions from any person we reasonably believe to be authorised to give such instructions.

8.4 You will need to provide us with the relevant account numbers and other information on the beneficiary you wish to transfer funds to. You are responsible for providing us with correct beneficiary details. We will rely on the beneficiary details you provide. We will not be responsible for any errors that you make in Payment Instructions, and you agree to reimburse us costs we reasonably incur because of any errors.

8.5 We will have to satisfy our internal identity checks before sending money to a new or different beneficiary. We will ensure the intended beneficiary has been authorised by you and approved by us.


9.1 Once you have placed an Order or Payment Instruction, you cannot cancel or vary it without our agreement. You must contact us immediately if you wish to cancel or vary an Order or Payment Instruction. We will try to withdraw or change your Order or Payment Instruction where this is reasonably practicable, but we cannot guarantee this. If we consent to such variation or cancellation, there may be a cost due to changes in exchange rates and we may charge you a fee. This fee will correspond to the costs we incur in taking the necessary corrective action. We will let you know what this fee will be in advance where this is possible.

9.2 We may refuse to accept an Order or Payment Instruction for any legitimate reason.

9.3 We may stop an Order or Payment Instruction, or take any other action we reasonably deem necessary to protect you or us, including where:


10.1 You can transfer settlement funds to us using bank transfers. The methods we offer for transferring settlement funds to us are not part of our services, they are provided by third parties and may change or be withdrawn at any time.

10.2 You must pay any amount due to us in full, unencumbered and cleared funds without any deductions.

10.3 Please inform us if a third party will be sending money to us on your behalf. Any funds we receive will be credited to your account as soon as reasonably practicable, after we have satisfied ourselves as to the sender’s identity and complied with our legal obligations.

10.4 All funds we receive or hold on your behalf will be held in one or more segregated bank accounts, separate from our own funds and in accordance with applicable laws.

10.5 You shall not be entitled to any interest on any funds held by us.

10.6 We may deduct from any balance in your account such amounts that you owe to us under the Terms or under law. We may convert any liabilities you owe to us in a different currency at an exchange rate which we determine to be reasonable. Any exercise of this right of set off is without prejudice to any other rights and remedies which we may have.


11.1 If you place a Payment Instruction for same day processing, we must receive your cleared settlement funds before 14.00 CET for EUR and 16.30 CET for other currencies on a Working Day. If we receive your settlement funds after indicated times or on a day which is not a Working Day, we will process your Payment Instruction on the next Working Day.

11.2 We will use reasonable endeavours to credit the funds to the beneficiary’s account:

11.3 We have no control over when the beneficiary’s payment services provider allows the beneficiary to access the funds. We will not be responsible for delays caused by another payment services provider in transferring money to us or allowing a beneficiary to access the transmitted funds.


12.1 When you use one of our Platforms, we will issue you with login username and initial password. Your username is your registered e-mail address. Initial password is system generated one which must be changed upon your first login. Multi-factor authentication is activated via SMS security code. Each time you attempt to login or initiate any financial transaction, SMS code is sent to your registered mobile number. If you have successfully logged in to our Platform, we will assume it is you that has given any Orders or Payment Instructions or made any other communications.

12.2 You must keep your Passcodes secret and make sure they are not stored or shared in a way that enables others to impersonate you. You must not allow others to use your Passcodes. You must not write down your Passcodes. If you disclose the Passcodes to any person, you are and will continue to be responsible for any use or misuse of your account.

12.3 If you suspect an incorrect instruction or unauthorised activity on your account, or that someone may have access to your Passcodes, you must notify us without delay by email: [email protected]

12.4 If you have intentionally or with negligence failed to use the Passcodes in accordance with the Terms (including paragraph 12.2), you will be responsible for any unauthorised transactions on your account, even if they were not given by you, until you notify us in accordance with paragraph 12.3.

12.5 We cannot guarantee that our Platforms will be always available. There may be occasions where we need to suspend access to our Platforms for technical reasons, emergencies, or regulatory reasons, or for periods of maintenance or updates. We will not be responsible if our Platforms are unavailable to you for any reason. We will do our best to inform you about such occasions. 


13.1 If you are a consumer (being a person acting outside a business, trade or profession) or a microenterprise (being any entity engaged in economic activity which employs less than 10 persons and has an annual turnover or balance sheet total of €2 million or less):

13.2 If you are not a consumer or a microenterprise, we will not be responsible to you:


14.1 If we fail to comply with our obligations under the Terms, then, subject as set out below, we will be responsible to you for the loss or damage you suffer that is a foreseeable result of us breaking the Terms. However, we will not be responsible for loss or damage that is not foreseeable, whether such loss or damage arises as a result of us breaching the Terms or otherwise. Loss or damage is foreseeable if either it is obvious that it will happen or, if at the time we entered into this agreement, both you and we knew that it might happen.

14.2 We will not be responsible to you for any loss of profit; loss of business; loss of or damage to goodwill; loss of use or corruption to software, data, or information; business interruption; or loss of business opportunity.

14.3 We will not be responsible to you for any losses you suffer or costs that you incur because:

14.4 Our total liability to you under the Terms or at law (including but not limited to any representation, tortious act, or omission, including negligence, arising under or in connection with these Terms) shall be limited to the aggregate net revenue we have received from you over the preceding six months.

14.5 Nothing in the Terms excludes or limits our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents, or subcontractors; for fraud or fraudulent misrepresentation; or for breach of your legal rights in relation to the services we provide.


15.1 You may cancel your agreement with us and close your account at any time without incurring additional fees or charges.

15.2 We may terminate your account for any reason by providing you with 60 days’ notice by post, email or through our Platforms. However, we may terminate your account immediately, or place restrictions on your account, if:

15.4 If we terminate your account, we will try to notify you in advance. Where this is not possible, we will notify you immediately after. There may be instances where we cannot notify you at all for legal reasons.

15.5 Immediately before closing your account, we will settle all outstanding transactions on your account, and deduct any applicable fees and charges due to us. We will return any amounts remaining in your account to you as soon as reasonably possible. If you owe us outstanding amounts, you shall pay these to us without delay. There may be instances where we cannot settle transactions on your account or close positions, such as for legal or regulatory reasons.

15.6 Once we have closed your account, we may continue to hold data about you and your account in accordance with our privacy policy and for legal or regulatory reasons (such as GDPR etc.).


16.1 Notices given under the Terms shall be in writing and shall be sent by pre-paid first-class post or email. Any notice shall be deemed to have been received:


17.1 You and UAB STANHOPE FINANCIAL shall comply with our respective obligations under applicable data protection legislation. Neither of us shall commit any act or omission that puts the other in breach of such obligations.

17.2 We will also process any personal data collected during your use of our website, Platforms or services in accordance with our Privacy Policy. You should read our Privacy Policy before using our services as it forms part of our agreement with you.

17.3 You must ensure you have secured any consents we or our service providers need to process personal data you send to us. This includes any consents required to process and/or transfer the personal data to parties outside the European Economic Area.

You agree that we may share the personal data, information and documents you provide to us with our selected third-party providers, or any law enforcement or regulatory body, to perform identity and other searches to comply with our legal obligations (such as the prevention or detection of crime). We, and our service providers, may store the results of such searches and the fact that such searches have taken place, including on your credit file.


We retain ownership of all the intellectual property in our systems, materials, documents, and software that we share with you. We grant you and your Users a revocable, non-exclusive, non-sub-licensable, royalty free licence to use the same, but only for using our services while this agreement is in force.


19.1 No partnership: Nothing in the Terms shall be deemed to create a partnership or joint- venture or agency relationship between the parties or confer any right or benefit to any third party.

19.2 Third party rights: A person who is not a party to the Terms shall not have any rights under or in connection with them.

19.3 No variation: The Terms shall not be superseded or modified except with our written consent.

19.4 Severance: Should any of the Terms be deemed unenforceable or illegal, the remaining terms will nevertheless continue in full force and effect.

19.5 Commission disclosure: In accordance with standard industry practice, UAB STANHOPE FINANCIAL pays commission to the individuals and companies that introduce clients to it.

19.6 Assignment: You may not transfer your rights or obligations under these terms and conditions to any other party. We may transfer our rights and obligations under these terms and conditions and will provide you with prior notification of any such transfer.

19.7 Complaints: If you wish to make a complaint to us, you should contact your account representative or write to us at the address given above. All complaints will be handled in accordance with the rules of the Bank of Lithuania and the applicable Payment Services Regulations. A copy of our complaints procedure is available on request. You may be eligible to refer your complaint to The Bank of Lithuania, who investigates impartially and free of charge disputes between consumers and financial market participants, arising from loan, deposit, payment, insurance, and investment agreements as well as agreements on other financial services.

More: https://www.lb.lt/en/sfi-disputes-between-consumers-and-financial-marketparticipants and you can contact them by writing to 

Gedimino pr. 6, LT-01103 Vilnius (correspondence) Totorių g. 4, 

LT-01121 Vilnius 

[email protected]t

More: https://www.lb.lt/en/contacts

19.8 No waiver: No failure or delay by UAB STANHOPE FINANCIAL to exercise any right or remedy provided under these Terms or at law shall constitute a waiver of that right or remedy.

19.9 Law and jurisdiction: Lithuanian law governs the agreement between you and us and the Lithuanian courts shall have exclusive jurisdiction over any disputes. 

© 2021 UAB Stanhope Financial

V1 2021 06 29, prepared by Mindaugas Gaulia, approved by Justinas Basalykas.