MGBX Quick Buy Service Terms

Important Notice

1. Definitions

1. Quick Buy Service means the service through which an eligible user pays fiat currency using a payment method supported by MGBX and purchases a specified Digital Asset at the Quote confirmed for that Order. The fiat currencies, Digital Assets, payment methods, regions, limits, and service hours actually available are those displayed on the MGBX Platform from time to time.
2. Supported Fiat Currency means a fiat currency listed by MGBX from time to time on the Quick Buy page as available to pay the purchase price.
3. Supported Digital Asset means a Digital Asset listed by MGBX from time to time on the Quick Buy page as available for purchase through the Quick Buy Service.
4. Supported Payment Method means a bank transfer, QR payment, payment card, e-wallet, local payment rail, or other payment method made available by MGBX or a Payment Service Provider from time to time.
5. Quote means the transaction price, estimated amount to be received, applicable fees, validity period, and other information displayed by MGBX for a specified Supported Fiat Currency, Supported Digital Asset, amount, and Supported Payment Method.
6. Quote Window means the period during which you may confirm a Quote. A Quote automatically expires at the end of the Quote Window, after which you must obtain and confirm a new Quote.
7. Order means a Quick Buy order created by the MGBX system after you confirm a purchase within the Quote Window.
8. Payment Service Provider means a bank, acquirer, payment institution, or other third-party service provider engaged by or cooperating with MGBX to provide payment instructions, collection, payment processing, identity or payment-account verification, payment status notification, refunds, or other related services for Quick Buy Orders.
9. Funding Account means the account within your MGBX Account used to receive, hold, or use Digital Assets purchased through the Quick Buy Service.
10. Personal Payment Account means a bank account, payment card, e-wallet, or other payment account owned or lawfully controlled by you and, where applicable, bearing an account-holder, cardholder, or wallet identity that matches the legal name verified through your MGBX identity verification.

2. Nature of the Service and Roles of the Parties

1. Quick Buy is a per-transaction fiat-to-Digital Asset purchase service. It is not a fiat deposit, fiat stored-value, bank deposit, e-money account, or payment account service. Unless MGBX expressly states otherwise for a separate product, MGBX does not create a disposable fiat balance for you when you use Quick Buy.
2. MGBX displays Quotes, creates and manages Quick Buy Orders, and credits the relevant Digital Assets to your Funding Account once the Order satisfies the settlement conditions.
3. Payment Service Providers may generate payment instructions, process authorisation or collection, confirm payment status, execute refunds, and provide other payment services available through them. Their own terms, privacy policies, limits, and compliance requirements may apply, as may the rules of banks, card schemes, e-wallets, or payment networks.
4. Unless expressly stated otherwise on the Platform, fiat currency paid in connection with a Quick Buy Order is solely the consideration for purchasing Digital Assets and is not a fiat balance held by MGBX on your behalf.

3. Eligibility

1. You have reached the age of legal majority under applicable law and have full legal capacity to enter into these Quick Buy Terms and conduct the relevant transactions;
2. You have registered a valid MGBX Account and completed mobile phone binding, email binding, and the level of identity verification required by MGBX;
3. Your country or region, account status, verification level, and risk assessment meet MGBX eligibility requirements;
4. You are not subject to applicable sanctions, restrictions, or prohibitions, and you do not use the service on behalf of any third party;
5. You use a Personal Payment Account and satisfy any account-name, cardholder, e-wallet identity, or other payer-information requirements displayed for the Order or imposed by the relevant Payment Service Provider; and
6. All information you provide is true, accurate, complete, and kept up to date.

4. Quotes and Fees

1. Any reference price or estimated amount displayed before an Order is created is for information only. A formal Quote generated by MGBX is valid only during the Quote Window displayed on the Platform.
2. A Quote may take into account market prices, liquidity, exchange rates, MGBX spreads, payment channel costs, transaction size, and other execution factors. It may differ from the price available on MGBX spot markets or other platforms and may not be the best price available in the market.
3. Before confirmation, the Platform will display the fiat amount payable, estimated amount of Digital Assets to be received, execution price or exchange rate, and any applicable MGBX fees. An MGBX spread may be incorporated into the Quote.
4. Your bank, a Payment Service Provider, or another third party may charge separate fees. Unless the Platform expressly states that MGBX will bear such fees, you are responsible for them.
5. You are responsible for reviewing all Order information within the Quote Window. Once a Quote expires, is not confirmed, or is shown as invalid, MGBX is not obligated to execute the transaction at the expired Quote.

5. Order Confirmation and Formation

1. By confirming a purchase within the Quote Window, you make an irrevocable request to create a Quick Buy Order on the fiat amount, purchase amount, price, and payment method displayed on the Platform.
2. The successful generation of an Order ID means that the MGBX system has received your transaction request and created an Order. It does not mean that MGBX or the Payment Service Provider has received or finally settled the relevant fiat currency or that the Digital Assets have been delivered.
3. Once an Order has been created, the Order ID, fiat amount, Digital Asset, estimated amount to be received, locked exchange rate, and payment method generally cannot be changed.
4. To the extent permitted by applicable law, MGBX may reject, suspend, or cancel an Order due to eligibility, limits, inventory, channel availability, manifest pricing errors, system errors, fraud risk, anti-money laundering requirements, or other compliance reasons.

6. Payment Rules

1. You must use a Supported Payment Method shown on the Order page and complete payment within the applicable payment window in accordance with the payment instructions provided by the Platform or Payment Service Provider. Payment instructions may include a QR code, beneficiary account, card-verification page, e-wallet authorisation, payment link, Order memo, or payment reference.
2. Unless the Order page expressly states that name verification does not apply to a particular Supported Payment Method, you must pay from a Personal Payment Account. Payments from another person’s account, a third-party payment account, a borrowed account, or another source not owned or lawfully controlled by you are prohibited.
3. You must pay the exact fiat amount displayed on the Platform. You must not alter the beneficiary, beneficiary account, payment currency, amount, Order memo, payment reference, or any other information in the payment instructions.
4. You must ensure that the beneficiary actually receives the full amount required by the Order. An underpayment caused by bank, card-scheme, e-wallet, foreign-exchange, or other third-party fees may prevent the Order from being completed automatically.
5. Each set of payment instructions may be used only for the corresponding Order. You must not pay after the payment instructions or Order have expired, make multiple payments for one Order, or apply one payment to multiple Orders.
6. Where the Platform provides an “I Have Paid” or similar button, clicking it only notifies MGBX that you claim to have completed payment. It is not evidence that payment was successful, funds were received, or payment was finally settled. The final payment result is determined by confirmation from the Payment Service Provider or relevant financial institution.
7. Some Supported Payment Methods may redirect you to a third-party page, require additional identity or card verification, require a one-time authorisation, or require acceptance of separate Payment Service Provider terms. You are responsible for checking the domain, beneficiary, and payment information displayed on the third-party page.
8. You are responsible for consequences caused by incorrect payment information, alteration of payment instructions, payment from a non-Personal Payment Account, late payment, duplicate payment, or failure to follow the instructions on the Platform, except where otherwise required by applicable law.

7. Payment Confirmation, Name Verification, and Crediting

1. MGBX will process the crediting of Digital Assets only after the Payment Service Provider confirms actual receipt of the relevant fiat currency or final payment success and MGBX has completed payment-result verification, Order matching, amount verification, and any required payer, payment-account, and compliance review.
2. For applicable Supported Payment Methods and regions, MGBX may compare payer, account-holder, or cardholder information returned by the Payment Service Provider with your MGBX identity verification information. After the relevant automated verification succeeds, MGBX will initiate asynchronous crediting based on the exchange rate and amount locked for the Order.
3. The Digital Assets will be credited to your MGBX Funding Account. An Order is complete only when the Digital Assets have been successfully recorded in the Funding Account ledger.
4. Any estimated processing time displayed on the Platform is for reference only. Processing may be delayed by banks, Payment Service Providers, networks, compliance reviews, or ledger processing. Unless otherwise required by applicable law or these Quick Buy Terms, such delay does not change the locked exchange rate or amount of Digital Assets for a validly created Order.
5. If payment is confirmed but the Digital Asset credit temporarily fails, MGBX may perform idempotent retries or manual remediation. You do not need to make another payment for the same Order.

8. Irregular Payments and Manual Review

1. An Order may be suspended or referred for manual review, irregular funds processing, or refund if any of the following occurs:
   1. The payer name does not match, is missing, or cannot be verified against the name verified by MGBX;
   2. The amount paid is less than or greater than the Order amount;
   3. Multiple payments are received for one Order;
   4. Payment is received after the Order or payment instructions expire;
   5. A payment cannot be matched to the Order, or the memo, reference, or beneficiary information has been altered;
   6. A payment is recalled, returned, disputed, reversed, or charged back; or
   7. MGBX, a Payment Service Provider, or a relevant institution determines that the transaction presents fraud, money laundering, sanctions, or other compliance risk.
2. During a manual review, MGBX may request payment receipts, proof of bank account ownership, source-of-funds information, or other necessary documents and may suspend the crediting of Digital Assets.
3. If manual review confirms that the payment was made by you and satisfies the Order and compliance requirements, MGBX may complete crediting at the exchange rate and amount locked for the original Order.
4. If manual review is not approved, MGBX will not credit the relevant Digital Assets to your Funding Account. Any fiat currency received will enter a refund or irregular funds handling process.
5. Underpayments, overpayments, duplicate payments, late payments, or unmatched payments do not automatically entitle you to Digital Assets at the original Order Quote. MGBX will determine whether to refund, return an excess amount, or take another reasonable action based on the circumstances, payment channel capabilities, and applicable law.

9. Refunds, Recalls, and Chargebacks

1. Where a refund is required, it will generally be returned to the originating bank account or original payment method. MGBX will not send a refund to a third-party account at your request.
2. Refunds may be subject to identity verification, anti-fraud and compliance review, Payment Service Provider rules, bank processing times, holidays, and local payment rules. Any refund time stated on the Platform or by Customer Support is an estimate and not an absolute guarantee of receipt by a specific time.
3. Bank fees, payment channel fees, or reasonable processing costs arising from an incorrect payment, underpayment, overpayment, duplicate payment, late payment, or other irregularity caused by you may be deducted from the refund to the extent permitted by applicable law and disclosed to you.
4. Once an Order is completed, you may not cancel the transaction or request a refund solely because the market price of the Digital Asset has changed. Any mandatory rights available to you under applicable law remain unaffected.
5. If a payment is recalled, returned, reversed, charged back, or determined to be derived from unlawful sources after the Digital Assets have been credited, MGBX may, to the extent permitted by applicable law and the MGBX Terms of Use, restrict the relevant account, require repayment of the relevant Digital Assets or their equivalent value, and set off amounts and reasonable costs against your available assets.

10. User Undertakings and Prohibited Conduct

1. Transact only for yourself, using your own lawful funds and for lawful purposes;
2. Not pay or purchase on behalf of another person, or rent, lend, sell, or transfer your MGBX Account or bank account;
3. Not structure or split transactions to evade limits, identity verification, anti-money laundering, sanctions, or risk controls;
4. Not exploit manifest pricing errors, system vulnerabilities, duplicate callbacks, forged receipts, or other abnormal mechanisms to obtain an improper benefit;
5. Not engage in fraud, money laundering, terrorist financing, illegal foreign exchange, gambling, scams, sanctions evasion, or any other unlawful activity; and
6. Promptly provide true, accurate, and complete identity, payment, and source-of-funds information when requested by MGBX.

11. Service Limits, Suspension, and Changes

1. MGBX may adjust supported fiat currencies, Digital Assets, transaction limits, payment methods, service hours, pricing methods, and eligible regions based on applicable law, regulatory requirements, market and liquidity conditions, risk controls, system maintenance, channel capabilities, or commercial arrangements.
2. MGBX may suspend or restrict the service during scheduled or emergency maintenance, system failures, network congestion, payment channel disruption, abnormal market conditions, insufficient liquidity, force majeure events, or compliance review.
3. MGBX does not guarantee that the Quick Buy Service, any Quote, payment method, or trading pair will remain continuously available, or that every Order will be accepted or completed within a specified period.

12. Risk Disclosure

1. Digital Asset prices may be highly volatile, and the Digital Assets you purchase may lose value, including their entire value;
2. If you purchase a stablecoin, that stablecoin remains subject to de-pegging, issuer, reserve, liquidity, technical, and regulatory risks;
3. Quotes may include a spread and may not be the best price available in the market;
4. Delays, failures, or disruptions affecting banks, Payment Service Providers, communication networks, blockchains, or MGBX systems may delay or fail an Order or require manual handling;
5. Changes in law, regulation, taxation, or policy may restrict the service, use of an asset, or movement of funds; and
6. During a review, refund, or irregular funds process, you may not be able to immediately use the relevant fiat currency or Digital Assets and may incur opportunity costs.

13. Data Processing and Information Sharing

1. To provide the Quick Buy Service, verify payment, process refunds, prevent fraud, and comply with legal obligations, MGBX may collect, use, retain, and disclose necessary information to Payment Service Providers, banks, identity verification providers, risk control providers, affiliates, and competent authorities in accordance with the MGBX Privacy Policy and applicable law.
2. Such information may include identity verification data, legal name, contact details, Order information, masked payment account information, payment status, device and risk information, and supporting documents submitted to Customer Support or reviewers.
3. You must ensure that information provided to MGBX relates to you or that you have obtained all authorisations legally required to provide it.

14. Limitation of Liability

1. To the maximum extent permitted by applicable law, MGBX will not be liable for indirect, incidental, special, or consequential loss arising from market price changes, acts or omissions of banks or Payment Service Providers, network or system disruption, force majeure events, your failure to follow payment instructions, or incorrect information provided by you.
2. MGBX’s liability in connection with the Quick Buy Service is subject to the limitations of liability in the MGBX Terms of Use. Nothing excludes or limits liability arising from MGBX’s fraud, wilful misconduct, or gross negligence, or any liability that cannot be excluded or limited under applicable law.
3. You are responsible for your trading decisions, account security, verification of payment information, and compliance with the laws applicable to you.

15. Notices, Complaints, and Customer Support

1. Order status, notices, and applicable rules will be communicated through the MGBX website, App, in-platform messages, your registered email, or other official channels.
2. If you have questions about an Order, review, or refund, you should submit a ticket through the MGBX Help Center or official Customer Support channel and provide the Order ID and necessary evidence. MGBX will never ask you to provide your account password, SMS verification code, or two-factor authentication code.
3. A debit shown on a bank statement does not necessarily mean that the beneficiary has completed final settlement. Submitting a support ticket does not automatically change the Order status, locked exchange rate, or refund outcome.

16. Amendments, Governing Law, and General Provisions

1. MGBX may amend these Quick Buy Terms in response to legal, regulatory, product, or payment channel changes. Amended terms will be published on the Platform, by announcement, or through another reasonable method and will apply to Orders initiated on or after the stated effective date, unless applicable law requires otherwise.
2. The governing law, dispute resolution, notices, assignment, severability, and other general provisions of the MGBX Terms of Use apply to these Quick Buy Terms.
3. If these Quick Buy Terms conflict with the MGBX Terms of Use, these Quick Buy Terms prevail solely in relation to the Quick Buy Service. The MGBX Terms of Use continue to govern all other matters.
4. These Quick Buy Terms may be published in multiple languages. If there is any inconsistency, the prevailing language specified in the MGBX Terms of Use will control. If the MGBX Terms of Use do not specify a prevailing language, the English version will prevail, except where applicable law mandatorily requires otherwise.