XNB PTY LTD – END USER TERMS AND CONDITIONS

(Remittance and Digital Currency Exchange Services)

Last updated: 7 February 2026

1. Introduction

These Terms and Conditions (“Terms”) govern your access to and use of the remittance

and digital currency exchange services (collectively, the “Services”) provided by XNB

Pty Ltd (ABN 95 650 770 835) (“XNB”, “we”, “us”, or “our”). XNB is registered with

the Australian Transaction Reports and Analysis Centre (AUSTRAC) as:

- an Independent Remittance Dealer; and

- a Digital Currency Exchange (DCE) Service Provider,

under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth)

(“AML/CTF Act”).

By creating an account, initiating a transaction, or using our Services, you agree to be

bound by these Terms and our Privacy Policy. If you do not agree, you must not use the

Services.

These Terms form a legally binding agreement between you and XNB. You should read

them carefully and retain a copy for your records.

2. Definitions

In these Terms, unless the context otherwise requires:

- Account means your registered user account with XNB.

- AML/CTF Laws means the Anti-Money Laundering and Counter-Terrorism Financing

Act 2006 (Cth), and associated Rules and Regulations.

- Beneficiary means the recipient of a remittance transaction.

- Digital Currency means a digital representation of value that functions as a medium of

exchange, e.g. Bitcoin, Ethereum, USDT.

- FX Rate means the foreign exchange conversion rate applied to a remittance.

- Payment Instruction means your instruction authorising XNB to process a remittance or

exchange transaction.

- Remittance Transaction means a money transfer conducted through XNB’s Services,

either domestic or international.

- You / your / user means the person accessing or using the Services.

3. Eligibility and Registration

You must be at least 18 years old and capable of entering into binding legal agreements.

Before using the Services, you must complete our customer due diligence and identity

verification procedures (“KYC”) to our satisfaction.

XNB may request further information at any time to comply with AML/CTF

requirements.

You must promptly notify XNB if any information provided during registration becomes

inaccurate or outdated.

4. Use of Services

You agree to use the Services only for lawful purposes.

You must not use the Services to:

- engage in fraud, money laundering, or terrorism financing;

- facilitate unlawful gambling or illegal activity;

- disguise or misrepresent the source or purpose of funds; or

- transact with sanctioned persons, countries, or entities.

XNB reserves the right to refuse, suspend, or cancel a transaction at its discretion where

required by law or where suspicious activity is detected.

5. Remittance Service Terms

5.1 Payment Instructions

The Customer must provide complete and accurate payment instructions, including the

full name, address, and account or wallet details of the Beneficiary. XNB Pty Ltd (“the

Company”) will rely on the information provided by the Customer and shall not be

responsible for any loss arising from errors, omissions, or misstatements in the

Customer’s instructions. Once the Company has confirmed receipt of a valid instruction,

it is deemed irrevocable except as provided under Clause 8 (Cancellation).

5.2 Funding and Payment Methods

The Customer must fund each transaction in cleared funds via an approved payment

method (e.g., bank transfer, POLi, PayID, or digital currency transfer). The Company will

not process a transaction until it has received the full cleared amount, including any

applicable fees. Payments made from third-party accounts may be rejected or subject to

enhanced verification in accordance with AML/CTF requirements. The Company may

hold Customer funds in a segregated client account pending settlement to the Beneficiary.

5.3 Foreign Exchange Rates

Exchange rates are determined at the time the Customer confirms the transaction and are

based on the prevailing wholesale market rate plus a margin determined by the Company.

Rates may fluctuate and are not guaranteed until the transaction is confirmed. If the

Customer delays funding or confirmation, the Company reserves the right to re-quote or

cancel the rate.

5.4 Fees and Charges

All applicable service fees, handling charges, and correspondent bank fees will be

disclosed to the Customer prior to confirmation. Fees are payable at the time of

instruction and are non-refundable once processing has commenced. The Customer

acknowledges that intermediary banks or payment partners may deduct additional

charges from the remitted amount.

5.5 Processing Times

Processing times are indicative only and depend on factors such as currency type,

destination country, bank cut-off times, and correspondent network efficiency. Domestic

payments are generally completed within one (1) business day, and international

payments within one to five (1–5) business days, subject to AML/CTF and sanctions

screening. The Company does not guarantee exact delivery times.

5.6 Beneficiary Settlement

The Company will remit the funds to the Beneficiary’s designated account as instructed

by the Customer. Settlement is deemed completed when the Company or its

correspondent institution releases funds to the Beneficiary bank or payment provider. The

Company is not responsible for delays caused by intermediary or receiving institutions.

5.7 Transaction Limits

The Company may impose daily, monthly, or per-transaction limits for risk management

and regulatory compliance. The Customer must comply with all applicable transaction

caps, which may vary by payment channel, country, or funding method. Any transaction

exceeding the threshold may require additional verification or supporting documentation.

5.8 Cancellation and Amendments

Once a transaction has been confirmed and processed, it cannot be cancelled unless

expressly agreed by the Company. Requests for cancellation or amendment must be made

in writing and will only be actioned if the funds have not yet been released. The

Company may charge a cancellation or amendment fee, including any loss incurred from

reversing foreign exchange conversions.

5.9 Refunds

If a transaction is cancelled before settlement, the Company will refund the principal

amount less applicable fees and any FX losses. Refunds will only be made to the same

source account from which funds were received. Refunds in digital currency will be made

in the equivalent value at the current exchange rate, not the original transaction rate.

5.10 Incorrect or Incomplete Details

If the Customer provides incorrect or incomplete Beneficiary information, the Company

may attempt to recall or amend the transaction at the Customer’s cost. The Company is

not liable for losses resulting from incorrect or misdirected payments due to Customer

error. The Customer indemnifies the Company against all costs or losses arising from

such errors.

5.11 AML/CTF Compliance and Reporting

The Company is subject to the Anti-Money Laundering and Counter-Terrorism Financing

Act 2006 (Cth) and associated Rules. The Customer must provide all identification,

source-of-funds, and transaction purpose information reasonably requested by the

Company. The Company may suspend or refuse any transaction pending verification or

regulatory clearance. The Company is legally required to report Threshold Transactions,

Suspicious Matters, and International Funds Transfer Instructions (IFTIs) to AUSTRAC

and may not disclose such reporting to the Customer.

5.12 Sanctions and Restricted Jurisdictions

The Company will not process any transaction that would contravene Australian or

international sanctions laws, including but not limited to those administered by DFAT,

OFAC, or the UN. The Customer must not use the Company’s services to send or receive

funds to or from any sanctioned person or entity. If a transaction is frozen or blocked due

to sanctions screening, the Company is not liable for resulting delay or loss. The

Company may terminate any relationship immediately where a sanctions risk is

identified.

5.13 Record Keeping

The Company retains transaction records, identification information, and correspondence

in accordance with AUSTRAC record-keeping obligations for a minimum of seven (7)

years. The Customer consents to such retention and acknowledges the Company’s right to

disclose information to regulators as required by law..

6. Digital Currency Exchange Services

6.1 Scope of Service

6.1.1. XNB Pty Ltd (“the Company”) facilitates the exchange of Australian Dollars

(AUD) for Digital Currencies and the exchange of Digital Currencies back into AUD,

through its online platform or designated service channels.

6.1.2. The Company may support a range of Digital Currencies as determined from time

to time, and reserves the right to add, suspend, or remove any supported Digital Currency

without prior notice.

6.1.3. The Company acts as a counterparty or intermediary in the exchange transaction

and does not provide investment, financial, or tax advice.

6.2 Nature of Digital Currencies

6.2.1. The Customer acknowledges that Digital Currencies are not legal tender in

Australia and are not guaranteed or backed by any government or financial institution.

6.2.2. The value of Digital Currencies is highly volatile and may fluctuate significantly

due to market demand, liquidity, and external economic conditions.

6.2.3. The Customer is solely responsible for assessing the suitability and risk of

acquiring or disposing of any Digital Currency.

6.3 Wallets and Address Accuracy

6.3.1. The Customer must provide an accurate and valid Digital Currency wallet address

for all exchange transactions.

6.3.2. Once a Digital Currency transaction is executed on the blockchain network, it

cannot be reversed or recalled.

6.3.3. The Company is not responsible for funds sent to an incorrect, invalid, or

incompatible wallet address provided by the Customer.

6.3.4. The Customer bears all responsibility for verifying wallet addresses, blockchain

network compatibility, and transaction details prior to confirmation.

6.4 Execution and Settlement

6.4.1. Exchange transactions will be executed at the rate displayed at the time of

confirmation by the Customer.

6.4.2. Settlement of AUD to Digital Currency, or vice versa, is subject to network

confirmation times and payment channel availability.

6.4.3. The Company may delay or suspend settlement pending AML/CTF checks,

transaction verification, or blockchain congestion events.

6.4.4. All exchange orders are final upon execution and cannot be cancelled, except at the

Company’s discretion under Clause 8 (Cancellation and Amendments).

6.5 Fees and Exchange Spreads

6.5.1. The Company applies exchange rates inclusive of a transaction margin, which may

differ from prevailing market or third-party rates.

6.5.2. The Customer acknowledges that the Company may derive income from such

margins and from service fees disclosed prior to execution.

6.5.3. Fees for blockchain network (“gas”) costs are borne by the Customer and are not

refundable once a transaction is broadcast to the network.

6.6 Risk Disclosure and Liability

6.6.1. The Customer acknowledges and accepts that:

● Digital Currencies are subject to price volatility, liquidity risk, and technological

vulnerabilities;

● Transactions conducted via blockchain are irreversible; and

● Losses may occur due to market fluctuations, system errors, network delays, or

security breaches beyond the Company’s control.

6.6.2. The Company provides its services on a best-efforts basis and makes no

representation regarding the timing, performance, or profitability of any Digital Currency

transaction.

6.6.3. To the fullest extent permitted by law, the Company excludes all liability for any

loss, damage, or consequential loss arising from the execution of Digital Currency

exchange transactions, except where caused by the Company’s gross negligence or fraud.

6.7 AML/CTF and Sanctions

6.7.1. All Digital Currency exchange transactions are subject to the Company’s

AML/CTF Program and sanctions screening procedures.

6.7.2. The Company may suspend or refuse to process any transaction that appears

suspicious, involves a prohibited jurisdiction, or breaches applicable laws.

6.7.3. The Customer must provide all supporting documentation requested for identity

verification, source of funds, and transaction purpose.

6.8 System Availability and Maintenance

6.8.1. The Company endeavours to maintain continuous service availability but does not

guarantee uninterrupted access to its Digital Currency Exchange platform.

6.8.2. Scheduled maintenance, network congestion, or external exchange downtime may

affect the execution or timing of transactions.

6.8.3. The Company will use reasonable efforts to notify Customers of material service

interruptions where practicable.

6.9 Acknowledgment of Risk

6.9.1. By using the Company’s Digital Currency Exchange Services, the Customer

acknowledges that they understand and accept all associated risks.

6.9.2. The Customer agrees that they are not relying on any representation or statement of

future value, performance, or guarantee made by the Company or its representatives.

7. Account Security

You are responsible for safeguarding your login credentials.

XNB is not liable for losses from unauthorised access resulting from your failure to

maintain account security.

You must promptly notify XNB of any suspected unauthorised activity.

8. Fiat Virtual Account Services

The fiat virtual account services are provided by Bano Pty Ltd ACN 643 260 431 (AFSL

536984) (“Bano”) and are governed by Bano’s terms and conditions (available at

http://www.banosuperapp.com) as amended from time to time, the Bano Product

Disclosure Statement (PDS) (https://www.banosuperapp.com/pds) and the Bano

Financial Services Guide (FSG) (https://www.banosuperapp.com/fsg).

By registering for and using XNB Pty Ltd, you acknowledge that you have been provided

with, and had a reasonable opportunity to ‘review, the Bano PDS and FSG, agree to be

bound by Bano’s terms and conditions (as amended from time to time), and consent to the

collection, use and disclosure of your personal information by Bano in accordance with

the Bano’s Privacy Policy (https://www.banosuperapp.com/privacy) and Collection

Statement (https://www.banosuperapp.com/collection-statement), including for identity

verification purposes.

To the extent of any inconsistency between these Terms and Bano’s terms and conditions

in relation to fiat virtual account services, Bano’s terms and conditions prevail for those

services.

9. Privacy and Data Protection

XNB collects, uses, and discloses personal information in accordance with the Privacy

Act 1988 (Cth) and our Privacy Policy.

You consent to the use of your data for transaction processing, AML/CTF compliance,

and service improvement.

XNB may transfer data to third-party service providers (including overseas) for

legitimate operational purposes.

10. Liability and Disclaimers

To the maximum extent permitted by law, XNB is not liable for losses arising from

delays, network failures, exchange rate fluctuations, or incorrect user instructions.

XNB’s total liability for any claim shall not exceed the lesser of the fees paid in the

previous 12 months or AUD $500.

Nothing in these Terms excludes liability under the Australian Consumer Law.

11. Force Majeure

XNB is not liable for failure to perform its obligations due to events beyond its

reasonable control, including natural disasters, strikes, war, or system outages.

12. Dispute Resolution

You may lodge a complaint by emailing info@xnb.com. XNB will acknowledge receipt

within 2 business days and aim to resolve complaints within 30 days.

13. Amendments

XNB may amend these Terms at any time by publishing an updated version on its

website. Continued use of the Services after publication constitutes acceptance of the

amended Terms.

14. Governing Law

These Terms are governed by the laws of New South Wales, Australia. You submit to the

exclusive jurisdiction of the courts of New South Wales.