Terms of Use

SONECT AG Terms of Use V 1.1. 2026 June 01 Effective date: 2026 June 01

1 Contracting party, scope and acceptance

These Terms of Use govern the use of the services provided by SONECT AG, Seefeldstrasse 283, 8008 Zurich, Switzerland ("SONECT", "we", "us" or "our") to customers and merchants in Switzerland. SONECT AG is affiliated with VQF, the Financial Services Standards Association, as its Swiss self-regulatory organisation for anti-money laundering supervision under the Swiss Anti-Money Laundering Act.

The services include the SONECT mobile application, related wallet functionality, cash withdrawal and cash distribution functionality, payment functions, support tools, and any additional features made available by SONECT through the application or website (the "Services").

A person or merchant accepts these Terms when they create an account, complete registration, click to accept the Terms in the app, use the Services, or continue using the Services after being notified of an amendment that takes effect in accordance with section 24.

These Terms apply together with any pricing information, product-specific terms, policies displayed in the app, and the SONECT Privacy Policy. If there is a conflict, product-specific terms prevail for the relevant product, followed by these Terms.

2 Definitions

Term	Meaning
App	The SONECT mobile application and related digital interfaces through which the Services are accessed.
Customer	A natural person who uses the Services for personal cash withdrawal, payment or related non-commercial purposes.
Provider	A merchant, shop owner or business partner accepted by SONECT to distribute cash, receive payments or otherwise participate in the Services.
User	A Customer or Provider, as applicable.
Wallet	The virtual balance shown in the App and used temporarily for the relevant cash withdrawal, cash distribution or payment process. The Wallet is not a savings account and does not bear interest.
Reference Account	The bank account in the User’s own name that is used for settlement, payout or debit purposes.
Transaction	A cash withdrawal, cash distribution, payment, wallet top-up, payout, refund, reversal or other operation initiated or processed through the Services.

3 Eligibility and territorial restrictions

The Services are intended for Users located in Switzerland, unless SONECT expressly makes a specific Service available in another territory.

Customers must be at least 18 years old and have legal capacity to enter into these Terms. Providers must be duly established and authorised to operate their business at the registered shop location or business premises.

A User may use only one Wallet unless SONECT expressly approves otherwise. A User must use a mobile telephone number and mobile device lawfully controlled by that User.

Due to regulatory, contractual, operational or security requirements, SONECT may restrict or disable certain functions outside Switzerland, for specific Users, for specific transaction types, or for specific risk profiles.

4 Technical access

The App may be used on compatible mobile devices made available on the Swiss market and running a supported operating system. SONECT may update the list of supported devices and operating systems from time to time for security, regulatory or operational reasons.

The User is responsible for maintaining internet access, a compatible device, security settings, and any services provided by the User’s telecommunications provider, bank or payment provider. SONECT is not responsible for charges imposed by third parties unless those charges are expressly imposed by SONECT and disclosed by SONECT before the Transaction.

5 Registration, identification and verification

During registration, the User must provide complete, current and accurate information requested by SONECT, including the User’s mobile telephone number and, where applicable, name, address, date of birth, business details, shop location, Reference Account and other information required for onboarding.

SONECT may verify the User’s mobile telephone number, device, identity, business details, Reference Account, source of funds, transaction purpose and eligibility. SONECT may request additional documents or information before activating, increasing, continuing or restoring access to the Services.

If a User changes mobile telephone number, device, business address, ownership, authorised representatives, Reference Account or other relevant onboarding information, the User must notify SONECT without delay and complete any requested re-verification.

SONECT may refuse registration, refuse a limit increase, suspend access, reduce limits or terminate the relationship if the User provides incomplete, inaccurate, misleading or outdated information, or if SONECT cannot complete legally or operationally required checks.

6 Wallet limits and balances

The Wallet is used only for the operation of the Services. It is not a bank account, savings account, investment product or interest-bearing account. Balances do not bear interest.

Limit area	Rule
Provider wallet balance	A Provider may not hold more than CHF 3,000 on the Wallet at any time unless SONECT expressly applies a lower or different limit for legal, security or operational reasons.
Provider cash distribution limit	SONECT may set a monthly cash distribution limit based on the Provider’s declared cash availability, onboarding profile, transaction behaviour and applicable law.
Customer basic limit	After basic registration, a Customer may withdraw up to CHF 200 per calendar month, subject to lower transaction, security or regulatory limits.
Customer increased limit	After successful completion of the limit increase process in the App, a Customer may withdraw up to CHF 4,000 per calendar month and up to CHF 15,000 per calendar year, subject to lower transaction, security or regulatory limits.
Customer wallet balance	A Customer may not hold more than CHF 3,000 on the Wallet at any time unless SONECT expressly applies a lower or different limit.
Payout of outstanding balances	Outstanding Wallet balances are paid out to the User’s verified Reference Account no later than 60 days after the relevant top-up or earlier if required by SONECT’s operating model or applicable law.

SONECT may apply lower limits, delay processing, require additional checks, or refuse a Transaction where this is required by law, by SONECT’s risk controls, by a payment partner, or by the User’s onboarding status.

7 Reference Account

For regulatory and operational reasons, SONECT may require all charges, debits, credits, payouts, reversals and settlements to be made through a verified Reference Account. The Reference Account must be in the User’s own name and held with a bank licensed to operate in Switzerland, unless SONECT expressly accepts another arrangement permitted by law.

SONECT may request evidence that the Reference Account belongs to the User. SONECT may reject or delay settlement where the Reference Account cannot be verified, has been closed, is inconsistent with onboarding data, or raises fraud, sanctions, AML or security concerns.

8 Cash withdrawal, cash distribution and payment functions

A Customer may use the App to initiate a cash withdrawal or payment function within the limits shown in the App. A Provider may use the App to distribute cash, receive payment or participate in other merchant functionality approved by SONECT.

A Transaction is authorised when the User confirms it in the App or by another authentication method accepted by SONECT. The User must check the amount, shop, fee, Reference Account, payment source and other transaction details before confirmation.

SONECT will provide the User with an electronic confirmation or transaction record through the App, by email or by another suitable electronic channel. Completed Transactions cannot be cancelled retroactively unless SONECT, the relevant payment partner or mandatory law permits a reversal, correction or refund.

SONECT may process the payment operation and the related cash distribution or withdrawal operation simultaneously or in separate steps, depending on the funding option, settlement method and product flow selected in the App.

9 Provider obligations

A Provider must use the Services only at the registered shop premises or business location approved by SONECT, unless SONECT expressly approves another location or operating model.

A Provider must maintain sufficient internal controls over employees and representatives who use or support the Services. The Provider remains responsible for acts and omissions of its employees, representatives and agents in connection with the Services.

A Provider must ensure that employees who perform SONECT Services are trained in the relevant App flow, cash handling, counterfeit detection, damaged or invalid banknotes and coins, customer interaction, fraud prevention, AML/sanctions red flags and escalation procedures. The Provider must immediately escalate to SONECT any suspected counterfeit cash, transaction splitting, mule or straw-person activity, use of another person’s device or account, attempted circumvention of limits, unusual customer behaviour, suspected fraud, sanctions concern or other activity that may indicate misuse of the Services. SONECT may review the Provider’s knowledge and operating controls without prior notice where this is reasonable for security, regulatory or quality-control purposes.

A Provider must not hand out banknotes or coins that are not intact, are polluted, are suspected of being counterfeit, are invalid, or show other abnormalities. Providers and their employees must visually inspect banknotes and coins and check surface and material in line with applicable requirements and normal cash-handling practice.

A Provider is responsible for fraudulent behaviour, intentional misconduct, wilful misuse, distribution of counterfeit currency, cheating, false confirmations, manipulation of the App flow, and exploitation of the system. SONECT may suspend or terminate a Provider if complaints, risk indicators, inspections or transaction patterns show misuse, fraud, legal non-compliance or repeated service quality failures.

A Provider is not authorised to perform SONECT’s AMLA due diligence duties, approve customers, approve limit increases, override risk decisions, bypass App controls or waive verification requirements unless SONECT has expressly authorised this in writing and the Provider follows SONECT’s written instructions and applicable VQF requirements.

10 Customer obligations

A Customer must use the Services only for lawful personal purposes and only within the limits, app flows and instructions made available by SONECT.

A Customer may reject cash at the relevant Provider location before accepting it if the banknotes or coins are not intact, are polluted, are suspected of being counterfeit, are invalid, or show other abnormalities. The Customer must raise any such issue immediately and before leaving the premises where the Transaction took place.

If a Customer accepts banknotes or coins and later alleges an issue, the Customer must notify SONECT support without delay and provide all information reasonably requested to investigate the matter. SONECT may refuse a claim where the relevant facts cannot reasonably be verified because the Customer delayed notification or failed to preserve evidence.

11 Transaction disputes and investigations

Any dispute between a Customer and a Provider involving cash, payment, fees, rejected banknotes or coins, suspected counterfeit currency, failed settlement, reversal or other transaction issue must be reported to SONECT support immediately after the Transaction took place.

The parties must provide sufficient information for SONECT to investigate, including transaction reference, time and location, receipts, screenshots, bank/payment evidence, identity information and any other relevant evidence. Both parties must cooperate in good faith.

SONECT may correct, reverse, credit, debit, block or decline a Transaction where this is required by law, by a payment partner, by a final investigation outcome, or by SONECT’s risk controls. This does not limit mandatory rights that a User may have under applicable law.

12 Fees, charges, commissions and taxes

Installing the App is free of charge unless SONECT clearly states otherwise before installation or registration.

Fees for chargeable Services are displayed in the App, on the SONECT website, in the relevant pricing page, or in a merchant agreement. For consumer-facing functions, SONECT displays the fee and any SONECT-imposed charge before the User confirms a chargeable Transaction.

Provider commissions, if any, are paid to the Provider’s verified Reference Account according to the applicable merchant arrangement. Unless expressly stated otherwise, commissions include applicable taxes, deductions and fees for which the Provider is responsible.

Fees or charges imposed by a bank, mobile operator, payment-card issuer, payment scheme, app store, internet provider or other third party are governed by the User’s agreement with that third party and are not SONECT fees, unless SONECT expressly collects them on behalf of that party and discloses this before the Transaction.

SONECT may offset amounts owed by a Provider or Customer to SONECT against Wallet balances, payouts, commissions or other amounts payable to that User, provided the offset is legally permitted and not prohibited by mandatory law.

13 AML, sanctions, fraud prevention and legal compliance

SONECT monitors the use of the Services to comply with the Swiss Anti-Money Laundering Act, applicable Swiss ordinances, sanctions requirements, fraud-prevention requirements, financial-market requirements and, where SONECT AG is affiliated with VQF as its self-regulatory organisation, the applicable VQF SRO Regulations and VQF requirements. This includes onboarding checks, identification of the contracting party, identification of beneficial owners and controlling persons where required, PEP and sanctions screening, source of funds and source of wealth checks where risk requires, transaction monitoring, risk scoring, recordkeeping, internal controls and escalation or reporting of suspicious or unusual activity.

A User must not use the Services for money laundering, terrorist financing, sanctions evasion, fraud, tax evasion, illegal gambling, illegal goods or services, circumvention of limits, mule activity, straw-person activity, fictitious Transactions, manipulation of cash flows, or any other unlawful or prohibited purpose.

A User must provide all information and documents reasonably requested by SONECT to verify identity, beneficial ownership, authority to act, source of funds, transaction purpose, business activity, ownership/control, Reference Account, sanctions status or other compliance matters.

SONECT may refuse onboarding, refuse a Transaction, delay a Transaction, restrict limits, block funds, suspend the Wallet, terminate the relationship or report to competent authorities where required or permitted by applicable law, SONECT’s regulatory obligations, SONECT’s SRO rules, payment partner rules, sanctions requirements or risk controls. SONECT may be legally restricted from explaining the reasons for such action.

14 User security duties

The User must protect the mobile device, SIM card, App credentials, passcodes, biometric access, authentication tools and email account used for the Services against unauthorised access, loss, theft, disclosure, copying or manipulation.

The User must not choose obvious or easily guessed passcodes, including birthdays, telephone numbers, repeated digits or simple sequences. The User must keep all credentials separate from the mobile device and must not disclose them to any unauthorised person.

If the User suspects loss, theft, compromise, unauthorised access, credential disclosure, device takeover, SIM swap, malware, fraudulent Transaction or other security incident, the User must immediately block access where possible, change credentials and notify SONECT support.

Transactions completed before SONECT receives a blocking request are treated as authorised unless mandatory law, SONECT’s investigation or the applicable payment rules require a different result.

15 Blocking, suspension and termination by SONECT

SONECT may block, suspend, restrict, refuse or terminate access to the App, the Wallet or any Service immediately and without prior notice where SONECT has reasonable grounds to believe that:

• a legal, regulatory, sanctions, AML, fraud, security or payment-partner requirement applies;
• the User has breached these Terms, provided false or incomplete information, failed verification, refused to cooperate, or misused the Services;
• the Service, device, account, Reference Account, transaction pattern or merchant location presents elevated risk;
• an official authority, court, regulator, payment partner, bank or card scheme requires or requests action;
• technical maintenance, security updates or operational incidents require temporary suspension; or
• continued access would expose SONECT, Users, Providers, payment partners or the public to legal, financial, operational or reputational risk.

Where reasonable and legally permitted, SONECT will inform the affected User of the main reason and available support channel. SONECT may be prohibited from informing the User where doing so would breach law, regulatory instructions, sanctions rules, AML requirements, fraud controls or security obligations.

16 Electronic communications and notices

SONECT normally communicates with Users through the App, push notification, email, SMS, website notice, in-app message or other electronic channel. The User is responsible for keeping contact details current and for regularly checking communications from SONECT.

Electronic communications may be affected by network availability, device settings, spam filters, third-party systems, confidentiality limitations and security risks. A User should not assume that SONECT has received an instruction, complaint or notification unless SONECT confirms receipt or the App shows successful submission.

A notice sent by SONECT is deemed received when it is made available in the App, sent to the User’s last registered email address or mobile number, or published on the website where publication is an appropriate notice method under these Terms.

17 Support and complaints

SONECT provides support through the App help function and any support channel published by SONECT. SONECT AG is affiliated with VQF, the Financial Services Standards Association, as its Swiss self-regulatory organisation for anti-money laundering supervision under the Swiss Anti-Money Laundering Act. Complaints or concerns relating to SONECT AG’s compliance with Swiss anti-money laundering obligations, VQF SRO rules or financial-intermediary supervision may be submitted to VQF.

SONECT may use third-party support providers subject to confidentiality, data protection and security arrangements.

Complaints should be submitted without delay and should include the User’s contact details, transaction reference, date, amount, Provider location, screenshots, receipts and a clear description of the issue. SONECT may request further information before making a final decision.

18 Data protection and confidentiality

SONECT processes personal data in accordance with applicable data protection law, including the Swiss Federal Act on Data Protection, and in accordance with the SONECT Privacy Policy made available through the website or App.

The User acknowledges that the operation of the Services may require SONECT to disclose relevant data to payment partners, banks, service providers, Providers, support providers, regulators, authorities, SROs, auditors and other recipients described in the Privacy Policy or required by law.

Where personal data is disclosed abroad, SONECT applies the safeguards described in its Privacy Policy and applicable data protection law. The Terms do not replace the Privacy Policy. AMLA-relevant records, including identification, verification, beneficial ownership, controlling person, risk assessment, transaction, clarification and reporting records, are retained for at least ten years after termination of the business relationship or completion of the relevant transaction where required by Swiss AMLA, applicable ordinances or VQF requirements.

SONECT treats confidential transaction and account information with appropriate care. SONECT may disclose such information where required or permitted by law, for the performance of the Services, for support and dispute resolution, for fraud prevention, to enforce legal claims, to comply with authority requests, or to protect legitimate interests.

19 Third-party services, offers and links

The App or website may contain links, integrations, advertisements, loyalty schemes, vouchers, promotions or offers from third parties. Unless SONECT expressly states otherwise, third parties are solely responsible for their content, terms, performance, availability, legality, redemption, discounts, loyalty points and customer support.

SONECT is not responsible for a third-party offer that is unavailable, inaccurate, expired, refused, changed, cancelled, not redeemable, or discontinued by the third party, except where SONECT is legally responsible under mandatory law or expressly assumes responsibility in writing.

20 Social media and external platforms

The SONECT website or App may contain social media links, social bookmarks or similar features. Use of those features may transmit data to the relevant external platform. The User is responsible for reviewing and complying with the terms and privacy information of the relevant platform.

SONECT does not control external platforms and is not responsible for their content, processing, availability or conduct, except to the extent required by mandatory law.

21 Intellectual property

SONECT and its licensors retain all rights, title and interest in the App, website, software, interfaces, trademarks, logos, content, documentation, know-how and other intellectual property used to provide the Services.

Subject to these Terms, SONECT grants the User a limited, revocable, non-exclusive, non-transferable and non-sublicensable right to use the App and Services for their intended purpose during the contractual relationship.

The User must not copy, modify, reverse engineer, decompile, sell, rent, sublicense, interfere with, bypass security features of, or use the App or Services for any unauthorised or unlawful purpose.

22 Availability, warranty disclaimer and liability

SONECT aims to provide the Services with reasonable care and diligence. SONECT does not guarantee uninterrupted, error-free or permanent availability of the App or Services. Maintenance, updates, outages, security incidents, network disruptions, third-party failures, force majeure events or legal restrictions may affect availability.

Nothing in these Terms excludes or limits SONECT’s liability for unlawful intent, gross negligence, death or personal injury, or any liability that cannot be excluded or limited under mandatory Swiss law.

To the extent permitted by mandatory law, SONECT is liable only for direct and proven loss caused by SONECT’s breach of contract. SONECT’s liability for slight negligence is limited to CHF 3,000 per incident.

To the extent permitted by mandatory law, SONECT is not liable for indirect loss, consequential loss, loss of profit, loss of revenue, loss of business opportunity, reputational harm, loss of data, alternative withdrawal costs, bank charges, telecommunications charges, payment-provider failures, Provider misconduct, Customer misconduct, unauthorised use caused by the User’s breach of security duties, or circumstances outside SONECT’s reasonable control.

Providers and Customers remain liable for their own fraudulent behaviour, intentional misconduct, unlawful conduct, misuse of the Services, breach of security duties, false information, counterfeit banknotes or coins, and breach of these Terms.

23 Unauthorised use and assumption of loss

SONECT will review claims of unauthorised use or third-party misuse if the User notifies SONECT immediately, cooperates with the investigation, provides requested evidence, and shows that the User complied with all security and due diligence obligations under these Terms.

A claim form or requested evidence must be returned to SONECT within ten days after the User becomes aware of the incident, unless mandatory law requires a longer period or SONECT grants an extension in writing.

SONECT may reject or reduce a claim where the User acted fraudulently, intentionally, with gross negligence, in breach of these Terms, or failed to notify SONECT without delay.

24 Changes to the Services, fees and Terms

SONECT may update the App, Services, features, limits, security requirements, fees and these Terms where this is necessary or appropriate for legal, regulatory, security, technical, operational, product, pricing or commercial reasons.

SONECT will notify Users of material changes in advance through a suitable channel, such as the App, email or website notice. The notice will state the effective date and, where the change is material, the User’s right to stop using the Services and terminate the relationship before the change takes effect.

A change is deemed accepted if the User continues using the Services after the effective date. If a User does not agree with a material change, the User must stop using the Services and may terminate the relationship before the change takes effect.

SONECT may implement urgent changes immediately where required by law, regulatory instruction, security risk, fraud risk, payment partner requirement, system integrity or operational necessity. Where reasonable and legally permitted, SONECT will notify affected Users as soon as practicable.

25 Duration and termination by the User

The contractual relationship is entered into for an indefinite period. A User may stop using the Services and request account closure at any time through the support channel or other method made available by SONECT.

Deleting the App alone may not close the User’s account, end pending Transactions, settle outstanding amounts, cancel legal obligations, or delete records that SONECT is required or entitled to retain. The User remains responsible for settling outstanding fees, negative balances, chargebacks, reversals, disputes and obligations incurred before termination.

After termination, SONECT will settle remaining Wallet balances to the verified Reference Account unless payment is blocked, delayed or otherwise restricted by law, sanctions, AML requirements, fraud controls, pending disputes or payment partner rules.

26 Legal restrictions and statutory reservations

The Services are provided subject to applicable laws, regulatory requirements, sanctions, orders from competent authorities, payment partner rules, SRO rules, security requirements and technical constraints. SONECT may take any action that it reasonably considers necessary to comply with such requirements.

A User who accesses or uses the Services from outside Switzerland is responsible for ensuring that this is lawful in the relevant location. SONECT may restrict or block access where cross-border use is not supported, creates legal risk, or is not permitted by SONECT’s operating model.

SONECT may be legally obliged to block assets, refuse or delay Transactions, report matters to competent authorities, retain records, or terminate the relationship. The User must provide all information reasonably required by SONECT to comply with such obligations.

27 Severability and no waiver

If any provision of these Terms is held to be invalid, unenforceable or unfair under mandatory law, the remaining provisions remain in force. The invalid or unenforceable provision will be replaced by a valid provision that comes closest to the economic and legal purpose of the original provision, to the extent permitted by law.

A failure or delay by SONECT to enforce a right does not constitute a waiver of that right. Any waiver must be made in writing to be effective.

28 Language

SONECT may provide these Terms in more than one language. If versions differ, the English version applies unless SONECT expressly designates another language version as prevailing or mandatory law requires a different result.

29 Governing law and jurisdiction

These Terms and all legal relationships between SONECT and the User are governed by substantive Swiss law, excluding conflict-of-law rules and international treaties, unless mandatory law requires otherwise.

The courts of the City of Zurich, Switzerland, have exclusive jurisdiction to the extent permitted by mandatory law. Mandatory consumer venue rights and other mandatory statutory protections remain reserved.

30 Contact

Questions, support requests and service complaints may be sent through the App support function or to [email protected]. Regulatory complaints or concerns relating to SONECT AG’s compliance with Swiss anti-money laundering obligations, VQF SRO rules or financial-intermediary supervision may be submitted to VQF, the Financial Services Standards Association, General-Guisan-Strasse 6, CH-6300 Zug, Switzerland, telephone +41 41 763 28 20, email [email protected].

SONECT AG, Seefeldstrasse 283, 8008 Zurich, Switzerland.