This policy sets out what you may not do with TransferCove. It is part of our Terms of Service. It exists to keep members and their money safe, and to keep the service within the law.
1. Who this applies to
This policy applies to everyone who uses TransferCove, including anyone who sends money to or receives money from a member. If you’re not sure whether something is allowed, ask us at support@transfercove.com before you do it.
2. Fraud and scams
You may not use TransferCove to deceive anyone or take money under false pretenses. That includes:
- selling goods or services you don’t intend to deliver
- overpayment or “accidental payment” schemes where you pay someone, then ask for money back to another account
- advance-fee, romance, investment, lottery or job scams
- phishing for sign-in codes, PINs, recovery codes or other account details
- using stolen bank accounts, cards or wallets to fund deposits
3. Illegal goods and services
You may not send, receive or request money for anything illegal where you or the other person are, including:
- illegal drugs and drug paraphernalia, and prescription drugs sold without a prescription
- weapons, ammunition or explosives where their sale is restricted or illegal
- stolen goods, counterfeit goods, or goods that infringe someone else’s intellectual property
- unlicensed gambling
- sexual services, or any material that sexually exploits children
- any other product or service that breaks the law
4. Money laundering, terrorist financing and sanctions
You may not use TransferCove to:
- move, hide or disguise money that comes from crime
- break large amounts into smaller ones to avoid limits, reviews or reporting
- fund terrorism or violent extremism
- deal with people, organizations or places subject to US sanctions, or help anyone avoid sanctions
- give us false information about who you are, where your money comes from or who you’re paying
5. Impersonation and false identity
You may not:
- pretend to be TransferCove, our staff, or another person or organization
- choose a @handle, name or photo meant to make people think you’re someone you’re not
- open an account with someone else’s identity, or with an identity that isn’t real
- hold more than one personal account
6. Using accounts that aren’t yours
Your account is for you alone. You may not:
- use another member’s account, even with their permission
- let anyone else use your account, sign-in, passkeys or PIN
- buy, sell, rent or transfer accounts or @handles
- act as a money mule by receiving money for someone else and passing it on
- deposit from, or withdraw to, accounts that aren’t in your name
7. Harassment and misuse of notes and requests
Payment notes and money requests reach real people. You may not use them to:
- threaten, harass, bully or intimidate anyone
- send hate speech or sexual content
- send spam, ads or repeated unwanted requests
- share another person’s private information
- send tiny payments or requests to message someone who doesn’t want to hear from you
8. Automated abuse and attacks on the service
You may not:
- use bots, scripts or other automated tools to sign up, sign in, look up members, or send payments or requests
- try to find out which emails, phone numbers or handles belong to members
- probe, scan or test our systems for weaknesses, except as described in our security reporting guidance, and never against other members’ accounts
- interfere with the service, overload it, or get around limits, reviews, rate limits or bot protection
- copy, reverse engineer or resell the service
9. Reversal and refund schemes
You may not:
- fund a deposit and then reverse, recall or dispute it with your bank or payment provider while keeping the credited balance
- falsely claim a payment or deposit was unauthorized, or that a withdrawal never arrived
- work with others to move money in ways designed to cause a loss to TransferCove or another member
10. What we do if this policy is broken
If we reasonably believe you’ve broken this policy, we may do any of the following, depending on how serious it is:
- warn you
- remove a @handle, note or photo
- reject or hold a deposit, withdrawal or request
- lower your limits or ask you to verify your identity
- freeze outgoing payments, suspend sign-in or close your account
- recover losses from your balance, where the law allows
- report the activity to law enforcement or other authorities
Where the law allows and it’s safe to do so, we will tell you what we’ve done and why.
11. Reporting a problem
If you think someone is using TransferCove to scam or harass you or anyone else, contact us at support@transfercove.com with the @handle, the date and amount of any payments involved, and what happened. We reply within one business day.
12. Changes
We may update this policy as new risks appear. We’ll tell members about meaningful changes by email or in the app. Questions go to TransferCove, 333 Fremont Street, San Francisco, CA 94105, United States, or support@transfercove.com.