Terms of Service

By creating a Sempo account or using Sempo’s website or services, you agree to these Terms of Service and to our Privacy Policy. If you do not agree, do not use the services. The bank side of Sempo — account details in your name, receiving a bank transfer and converting it, and paying out to a bank — is provided by Align, and by creating an account you also agree to Align’s End User Agreement and Privacy Policy, which are incorporated into these terms by reference:

• Align’s End User Agreement
• Align’s Privacy Policy

Sempo gives you an account whose balance is held in USDC, a US-dollar stablecoin, at blockchain addresses controlled by a key created for you; bank account details you can be paid at; and a record of what has come in and gone out. Sempo is not a bank, does not hold deposits, and does not pay interest. Sempo is an independent developer using Align’s services under Align’s Developer Terms. Align does not endorse, sponsor or approve Sempo, and Align’s regulatory status and registrations do not extend to Sempo or to this application.

You must be at least 18 years old, have the legal capacity to enter into these terms, and complete identity verification before your account can hold or move money. Accounts are for individuals acting for themselves. You may not use Sempo if you are located in, incorporated in, or otherwise associated with any of the following jurisdictions, and Sempo does not process transactions to or from them:

• Afghanistan
• Belarus
• Central African Republic
• Crimea
• Cuba
• Democratic Republic of the Congo
• Haiti
• Iran
• Myanmar
• North Korea
• Puerto Rico
• Russia
• South Sudan
• Sudan
• Syria
• Ukraine
• Uzbekistan
• Venezuela
• Yemen

You are responsible for everything done with your account and for keeping the ways into it — your email, any password, and any wallet you link — safe. Tell us at once if you believe somebody else has access. Sempo may ask you to confirm it is you before an action that moves money, and may refuse an action until you do.

You may not use Sempo, or money that passes through it, for any of the following, and Sempo will decline to open an account for, or process a transaction linked to, anyone who does. These rules apply to you, to anybody who owns or controls an account with you, and to the people you transact with:

• Anything unlawful where you are, where the money comes from, or where it goes — including money laundering, financing terrorism, evading sanctions, tax evasion and fraud.
• Weapons, ammunition and other military or war-related goods; explosives and hazardous materials; nuclear or atomic energy businesses and materials.
• Gambling, betting or wagering, and any service that enables it.
• Running a business that needs a licence without holding one, and shell banks or shell banking structures.
• Selling pirated music, films, software or other content, or goods and services that infringe a trademark, patent, copyright or trade secret; counterfeit goods, unauthorised resale of branded goods, and goods illegally imported or exported.
• Cannabis; tobacco and e-cigarettes; online pharmacies and cross-border pharmaceutical fulfilment; substances designed to mimic illegal drugs; equipment designed for making or using drugs; and other age-restricted goods sold without the required controls.
• Charities, non-profits and fundraising.
• Pornographic material and sexually oriented services.
• Investments marketed as offering guaranteed, fixed or unusually high returns; pyramid schemes and multi-level marketing; and products sold on unapproved medical or health claims.
• Publishing arrest photographs for extortion or reputational harm.
• Reselling a service without adding anything to it, deceptive or predatory consumer models, and aggregating or passing through other people’s funds so as to obscure where they came from — including any unlicensed money transmission on behalf of others.
• Organisations that promote unlawful violence, or hatred against people on the basis of who they are.

Every fee is shown before you confirm a transaction that carries one, and the amount shown is the amount you agree to. Bank transfers are converted to or from USDC at the time they are processed, and the conversion, the timing and the route are set by Align and the banks involved. A transaction may be held for review; where that happens, Sempo can tell you only that it is under review, and may be unable to say more or to say when it will complete. Sempo may refuse, reverse or return a transaction that breaks these terms, Align’s terms or the law.

A balance in USDC is a digital asset, not a bank deposit, and it is not covered by deposit insurance. Money sent to one of your addresses on chain is credited only if it is USDC on a network Sempo supports; a transfer of another token, or on another network, cannot be recovered by Sempo. Blockchain transactions are final once made. The balance shown on screen is Sempo’s record of what has come in and gone out through bank transfers, and may lag behind what is held at your addresses.

Sempo is built on services from other companies, each under its own terms: Align for bank accounts, transfers and identity verification; Clerk for signing in and account security; and Resend for the emails Sempo sends you. Where one of them is unavailable, the part of Sempo that depends on it may be too.

The Sempo name, mark, website and application are owned by Sempo. You may not reproduce, distribute or create derivative works from them without our prior written consent. Nothing in these terms grants you any right in Align’s or any other provider’s name or marks.

Sempo may suspend or close your account, or limit what it can do, where required by law, by a provider’s terms, or to protect you, other users or Sempo — including where verification cannot be completed or these terms are broken. You may close your account at any time by writing to us; a balance you hold remains yours, and we will tell you how to move it out.

Sempo is provided “as is” without warranties of any kind. To the fullest extent permitted by law, Sempo is not liable for any indirect, incidental or consequential loss arising from your use of the services, for delays or failures caused by a bank, a blockchain network or a third-party provider, or for a transfer sent to the wrong address, token or network. Nothing in these terms limits liability that cannot be limited by law.

We may update these terms from time to time. The date at the top is when they last changed. Continued use of the services after a change is acceptance of the updated terms; for a change that materially reduces your rights we will tell you by email first.

If you have questions about these terms, please reach out at hello@sempo.xyz.