Terms & Conditions
A Legal Disclaimer
1. Nature of Service
GNK POINT BANK is a digital financial platform that facilitates the conversion of reward points into digital assets, enables payment services, and supports cryptocurrency-based recharge options. It is not a bank or licensed financial institution, and it does not offer fiat currency deposit or lending services.
2. Digital Asset and Point Conversion
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Users may convert accumulated points into R200 or other digital assets through GNK POINT BANK.
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All conversions are executed based on internal policies and prevailing exchange rates.
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GNK POINT BANK does not guarantee or insure against value fluctuations or market-related risks. Users are solely responsible for the outcomes of their transactions.
3. KYC and AML Compliance
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All users are required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
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Providing false information, using third-party identities, or engaging in unlawful funding activities will result in immediate account suspension and legal action.
4. Limitation of Liability
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GNK POINT BANK shall not be held liable for any direct or indirect losses arising from technical errors, hacking incidents, service delays, or unforeseen disruptions.
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Users are responsible for safeguarding their account credentials (wallet addresses, login information, etc.). Lost or compromised credentials may be irrecoverable.
5. Jurisdiction and Dispute Resolution
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The use of GNK POINT BANK is governed by the laws of the jurisdiction in which the platform is registered.
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In the event of a dispute, users agree to undergo good-faith resolution efforts first. If unresolved, the dispute shall be settled by the competent court in the relevant jurisdiction.
Terms & Conditions - The Basics
Article 1. Purpose
These Terms of Use define the terms, procedures, rights, and obligations related to the use of digital asset-based point management and payment services (hereinafter referred to as “Services”) provided by GNK POINT BANK (hereinafter referred to as “Company”).
Article 2. Definitions
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“Member” refers to any individual who registers and uses the Service in accordance with these terms.
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“Points” refer to reward-type data assets earned from the Company or affiliated platforms.
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“Digital Assets” refer to blockchain-based cryptocurrencies such as R200 or USDT.
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“Swap” means the process of converting Points into Digital Assets or vice versa.
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“GNK Mastercard” is a physical or virtual card that can be recharged using Points or Digital Assets.
Article 3. Effect and Amendment of Terms
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These Terms take effect upon being posted on the Service platform.
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The Company may revise these Terms in accordance with relevant laws and regulations.
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If a user does not agree to the revised Terms, they may stop using the Service and withdraw their membership.
Article 4. Membership and Account Management
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Membership is available only to users who complete KYC (Know Your Customer) verification.
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Members must provide accurate personal information. The Company is not liable for any loss due to false data.
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Members are responsible for managing their account credentials. The Company is not liable for any loss due to user negligence.
Article 5. Provision and Restriction of Services
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The Company provides services such as point swap, digital asset wallet, and GNK Mastercard recharge.
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Service may be suspended or restricted under the following conditions:
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At the request of authorities or by law
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During system maintenance or due to security risks
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When fraudulent or suspicious activities are detected
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Article 6. Fees and Exchange Rates
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Fees and exchange rates applied to swaps and card recharges shall follow internal company policies.
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These may be adjusted with prior notice and do not apply retroactively to past transactions.
Article 7. Prohibited Activities and Penalties
Users may not engage in the following activities. Violations may result in account suspension, point forfeiture, and legal action:
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Identity theft or provision of false information
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Money laundering, illegal transactions, or criminal conduct
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System hacking or data tampering attempts
Article 8. Intellectual Property Rights
All content provided through the Service is the property of the Company. Unauthorized reproduction, distribution, or modification is strictly prohibited.
Article 9. Limitation of Liability
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The Company is not liable for fluctuations in asset value, network errors, or losses caused by blockchain-related risks.
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The Company does not compensate for damages resulting from user negligence, such as lost passwords or incorrect transactions.
Article 10. Governing Law and Dispute Resolution
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Any dispute arising under these Terms shall be resolved through good-faith negotiation.
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If unresolved, the dispute shall be subject to the jurisdiction and laws of the Company’s registered location.
What to Include in the T&C Document
Generally speaking, T&C often address these types of issues: Who is allowed to use the website; the possible payment methods; a declaration that the website owner may change his or her offering in the future; the types of warranties the website owner gives his or her customers; a reference to issues of intellectual property or copyrights, where relevant; the website owner’s right to suspend or cancel a member’s account; and much, much more.
To learn more about this, check out our article “Creating a Terms and Conditions Policy”.