Cash Management

These are the terms for using Cash Management - a cryptocurrency service, which allows you to earn interest on the supported cryptocurrencies held on your Account.

1. How Cash Management works?

1.1. In order to start using Cash Management you have to have opened and activated the Getchange account and debit card.

1.2. While using Cash Management you have to use the Conversion Service, whereby you buy the supported cryptocurrencies, which are shown to you in the Apps, i.e. stablecoins, e.g. USDC, from us, in exchange for specified Fiat currencies, and vice versa. You are entitled to at all times buy specified Fiat currencies from us, in exchange for the supported cryptocurrencies, however interest is exclusively and at all times calculated on the current outstanding balance of the supported cryptocurrencies.

1.3. After having bought the supported cryptocurrencies, with Cash Management your cryptocurrencies are deposited on your behalf to Crypto Interest Accounts operated by third-party custodians, e.g. BlockFi, Inc. or Payward, Inc.

1.4. Interest is calculated on an hourly basis on the current outstanding balance of the supported cryptocurrencies held on your Account, and rewarded by the first day of the following calendar month at 12:00 EET in the same supported cryptocurrency, and consecutively converted into specified Fiat currency.

1.5. All fees, including network fees for the aforementioned transfers, have already been deducted from the interest offered.

2. What are the risks?

2.1. Since Cash Management is in its entirety a cryptocurrency service, your supported cryptocurrencies are not subject to statutory or voluntary deposit guarantee schemes or deposit insurance.  

2.2. By using Cash Management you acknowledge that various types of risks are involved, including but not limited to risks relating to the changes in the operating rules or other features, e.g. forks, and the fluctuation of the value of any supported cryptocurrencies, including the fiat currency it is pegged to, counterparty risks, including but not limited to the sustainability, insolvency, liquidation and bankruptcy of one of our partners and their partners, regulatory risks and uncertainties. Should any of the risks realise, you hereby understand and consent that you are solely liable for the consequences, and we shall not assume any liability nor obligations thereof.

2.3. By using Cash Management you understand and agree that rewarding you with the interest is in our sole discretion, not an obligation, and it is not a guarantee that you will receive the reward by the due date. We have reserved the right to from time to time change the interest rate, which is shown to you in the Apps, and These terms, and temporarily or permanently terminate or discontinue providing the service of Cash Management at any time, without giving you a prior notice thereof. If that is the case, we will buy back the supported cryptocurrencies from you, in exchange for specified Fiat currencies, and the interest calculation shall be terminated as of that moment, and the interest shall be rewarded by the first day of the following month.

2.4. In addition to agreeing to these terms, when using Cash Management you also consent and agree to abide by the terms of our partners. Please also pay extra attention to the risk disclosure sections. Relevant documents are available at https://blockfi.com/terms/?ref=7fd50399 and https://www.kraken.com/en-us/legal.

3. How is the security of the supported cryptocurrencies ensured?

3.1. Change has performed and is constantly re-performing relevant due diligence on its partners and the financial, reputational and regulatory risks surrounding them. If it becomes known or Change deems the counterparty risk, including any security risk to your supported cryptocurrencies, to be unacceptable, we will immediately terminate the partnership and/or the service, and inform you thereof in the Apps.

3.2. Your cryptocurrencies deposited on Crypto Interest Accounts are securely backed by third-party custodians Gemini Trust LLC (Gemini) or Circle Internet Financial, Inc. (Circle). Gemini is a New York trust company licensed by the New York State Department of Financial Services. Gemini is a fiduciary and subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the NYSDFS and the New York Banking Law. Circle is a Boston, US based company registered as Money Services Business with FinCEN and has relevant money transmitter licenses.

3.3. Once the cryptocurrencies are transferred into a cold storage system, the offline storage can only be accessed in a secure, access-controlled facility that is protected from cyber attacks.