EFFECTIVE DATE: September 23rd, 2021
LAST UPDATED: September 23rd, 2021
Acceptance of Terms
Boxsite Ltd. provides an online platform (Boxsiteantigua.com), money transfers, and customer service (Collectively “The Service”) that allows like-minded individuals to create a Boxsite Member Account and, once approved, join an appropriate money savings plan that enables them to share money amongst themselves, via a Box (Susu/Group Savings).
How To Join The Service
The Service consists of an online platform, EFT processing, and customer support service (Collectively known as “The Service”) that allow Members to join an appropriate money savings plan enabling them to share money amongst themselves via a Box. To become a Member and access the Service, you must successfully complete our online registration process, including the provision of personal identification information, proof of address, job letter, debit/credit card, and bank account or other financial account (Credit Union).
Once completed, there is a verification process that can last from one (1) to two (2) business days for your Member Account approval.
Anti-Money Laundering/KYC (Know Your Customer)
To help the government fight the funding of terrorism and money laundering activities, Boxsite is required to know its customers by obtaining, verifying, and recording information that identifies each person who uses the Service. We are required to collect information such as the following from you:
If your identity cannot be verified, we will not be able to provide the Service to you.
“Member” means a person who has successfully completed Boxsite’s registration and approval process.
“Box” means two or more Members coming together to save a specific amount, by committing to pool their monies equally together at different predetermined intervals and alternate receiving the pooled amount at such same intervals.
“Throw” means the amount of money each Member has to contribute to the Box at each interval.
“Hand” means the total amount of money the Members Throw together at each interval to be received by the designated Member.
“Frequency” means the predetermined interval of the Box for contributions (Throw) and distributions (Hand) of the money. For example; Weekly, Fortnightly and Monthly.
“Key Characteristics” mean the details of a Box; like the number of participants, Throw and Hand amounts, frequency, etc.
“Join” means to accept the key characteristics of a Box and click the Join button to become a part of that Box.
“Public” means a Box is open for all eligible Members of the site to Join.
“Private” means a Box was created for a specific group of Members and can only be joined by those specific Members with whom the Box is shared.
“Handling Fee” means the % of your Hand that goes to Boxsite for providing the platform and services.
How the Service Works
After registration approval, Members are free to use the service. Boxes will already be made available for all Members to choose from with a variety of key characteristics in our Planned Boxes section. You may view the key characteristics of a Box by clicking on the Details option. When you find the Box(es) that suits you best, you may participate in the Box by selecting Join and choosing the appropriate available date to receive your Hand. Scrolling through the Hand date options is achieved by selecting the arrow feature at the top right-hand corner of the calendar. It is important to note that new Members to the site are ranked as Freshman and will not be eligible to receive the first, second, and third Hands even though the dates of those Hands may still be available at the time of them joining the Box. Please see Member Statuses and Eligibility further below.
Money is shared by and between all Members who have joined a Box. Within a Box, every member contributes the same amount in instalments (Throw) over the lifetime of the Box, and every member of a Box receives the same amount (Hand) but at different intervals. All Throw payments are made online via your banks online EFT platform from your personal bank account. One Member of the Box will then receive their Hand, less Boxsite’s Handling Fee, directly into their bank account.
Boxes will be created by Boxsite, but a Member of the site may also create a Box for his/her own private group of friends, family, or colleagues. However, the Member must first send an email request to Boxsite to be granted this special permission. A Member creating a Box determines four (4) key characteristics of that Box: (1) the Throw amount to be contributed by each Member who joins the Box; (2) how long the Box will go on (it’s life-time) based on how many Members and Hands there are in the Box (one Hand per Member); (3) the frequency of payments into the Box and Hands out of the Box; and (4) the date when the Box will start.
Throws, Hand Processing, Time Frames, and Penalties
All Boxes on the site will operate on a calendar monthly, fortnightly, or weekly frequency, depending on that key characteristic of the Box.
All Members are responsible for transferring their Throw amounts from their personal bank account to Boxsite’s bank account, via the EFT platform associated with their bank, using the following information:
Name on account – Boxsite
Name of bank – Caribbean Union Bank
Bank address/Branch – Friars Hill Road
Account number – 20004243
Routing number – 282010708
All Boxes with a monthly frequency require that all participating members transfer their Throw amount to Boxsite’s bank account by the 3rd day of every month unless the proposed date falls on a public holiday or a weekend. In this scenario, the funds should be transferred by the following business day. All Boxes with a monthly frequency will have their Hands paid out to the appointed Member on the 5th of each month unless the proposed date falls on a public holiday or a weekend. In this scenario, the Hand will be paid out on the following business day.
All Boxes with a fortnightly or weekly frequency require that all participating members transfer their Throw amount to Boxsite’s bank account by the respective Friday of the week. All Boxes with a fortnightly or weekly frequency will have their Hands paid out on the respective Tuesday of the week unless the proposed day falls on a public holiday. In this scenario, the Hand will be paid out on the following business day.
It is important to note that the term “public holiday” refers to public/bank holidays affecting the site’s host country of Antigua and Barbuda.
Failure to transfer the Throw amount required for your Box, on time, will subject the Member to incur late fees in addition to the Throw amount. The fee incurred will be 10% of your Throw amount once a Member fails to meet his or her Box contribution commitment for more than two (2) business days past the original due date. If delinquency persists, the Member will be further subjected to additional fees of 10% per day thereafter and will be limited or may be restricted from access to The Service, including preclusion of joining more Boxes or receiving a Hand from any Box that the Member has joined.
Once five (5) business days have passed, Boxsite will charge the Throw amount plus all accumulated outstanding fees to the Member’s registered debit/credit card. If this attempt is to no avail, Boxsite reserves the right to retrieve any monies owed by a Member to the fullest extent of the governing laws of the Member’s state.
Member Statuses and Eligibility
There are four (4) different statuses for members to be ranked based on their conduct and longevity with the site:
Freshman – A newly approved Member to the site. This Member is an active participant in our community but is new and has not yet established any history with Boxsite by completing the lifetime of any Box. Therefore, they would not be eligible to receive the first, second, and third place Hands of a Box they successfully join.
Sophomore – A Member who has completed the lifetime of at least one (1) Box lasting six (6) months or more. This Member has shown good conduct with the community and has established some history with Boxsite. They are now eligible to receive the third place Hand of any Box they successfully join, but not the first and second.
Junior – A member who has completed the lifetime of two (2) Boxes lasting six (6) months or more, but not concurrently. This Member has shown good conduct with the community and has established more history with Boxsite. They are now eligible to receive the second Hand of any Box they successfully join, but not the first.
Senior – A member who has completed the lifetime of three (3) or more Boxes lasting six (6) months or more, but not concurrently. This member is eligible to receive any Hand of any Box they successfully join. A Senior can also request an early-partial Hand or an early Hand in a Box, outside of their scheduled time interval.
*It is important to note that there can only be up to two (2) early requests per Member per year; and approval is solely at the discretion of Boxsite. Also, in spite of these Statuses, Members will not be able to Throw any amount that will exceed 50% of their salary, whether in a single Box or multiple Boxes at the same time.
The purpose of these Terms is for you to secure access to the Service. All fees set forth within and paid by you under the Terms shall be considered solely in furtherance of this purpose.
You agree to pay all fees and billings relating to your Boxsite account in accordance with the fees and billing terms in effect at the time a fee, Throw, or charge is due and payable. You agree to immediately notify Boxsite of any issues that may affect your payments hereunder. Boxsite reserves the right at any time to change its prices and billing methods, either immediately upon posting on Boxsite or by email delivery to you.
The Handling Fee for any Box is 10%. In a situation where a Senior Member request an early-partial Hand or an early full Hand, the Handling Fee will then be 12% instead of the usual 10%.
Members will also pay an annual membership fee of $50.00, which will be required to be paid by the Member after their Boxsite Member Account has been approved. Membership fee is not refundable, but from time to time, Boxsite as part of a promotional campaign strategy may waive this fee.
Electronic Funds Transfers (“EFTs”)
When you register a Boxsite Member Account, you will provide the details of your checking or savings account to receive your Hand payments via EFT. EFTs are electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems.
All EFT transactions are performed by our issuing bank Caribbean Union Bank (CUB). Boxsite will provide you with all of your transactions in your Member Account Dashboard in addition to providing customer support relating to your Member Account. No Communication should be made or attempt to be made with CUB regarding your Boxsite Member Account.
Customer Permission for
Text Messaging/Alerts, Push Notifications and E-Mail
You grant Boxsite express consent to receiving text messages or push notification alerts from Boxsite, or any third-party service providers acting on Boxsite’s behalf, at any mobile telephone number you provide to us. Your express permission applies to messages and alerts regarding Boxsite Service.
By providing your email address to us, you agree that Boxsite may e-mail information regarding our Service, collections, or any other action related to providing the Service to you.
Accessibility; Account Information
The Service is intended solely for persons who are 18 or older and who are legally able to enter a contract. By accessing or using the Service you represent and warrant that (i) you agree to be bound by these Terms and (ii) that you are not legally prohibited from receiving or using the Service under the laws of the country in which you access or use the Service.
You agree to provide accurate, current, and complete information during the registration process and to update such information to keep it accurate, current, and complete. Boxsite reserves the right to deny or terminate your account and your access to the Service if any information provided during the registration process or thereafter proves to be inaccurate, not current, or incomplete. You are responsible for safeguarding your password. You agree that you will not disclose your password to any third party. You will immediately notify Boxsite of any unauthorized use of your Member Account. Boxsite assumes no responsibility for your Member account information.
The Service may contain links to third-party websites or resources. When you click on a link to a third-party website or resource, you must be aware that you have left Boxsite and are subject to the terms and conditions (including privacy policies) of another website or destination. Such third-party websites and resources are not under the control of Boxsite. Boxsite will provide these third-party websites and resources only as a convenience. You use the links in third party websites or resources at your own risk. When you leave our Site, our Terms and policies no longer govern. You should review applicable terms and policies, including privacy and data gathering practices, of any third-party websites and resources, and should make whatever investigation you feel necessary or appropriate before proceeding with any transaction with any third party.
Specific Consents Granted upon Submission of Your Registration Form
At the time that you submit your registration form to us to register for the Service and related analysis of information in connection therewith, you agree that you are providing to us the following specific consents (in addition to being subject to these Terms and Conditions):
I understand that by submitting this registration form I am authorizing Boxsite, once it has obtained my personal information in its records along with the other information I am submitting through this registration form (collectively, the “Registration Profile”), to use that Registration Profile to match me with product and services offers from time to time from its marketing department, which offers it will send to me either by e-mail or through the display of advertisements and to further use that Registration Profile to provide statistical analysis, reports and summaries of my Registration Profile in comparison to other Members’ Registration Profiles. I understand that it is completely up to me to decide whether I would like to accept any of the offers I receive.
Third Party Offers
Boxsite may match offers from third parties against your Registration Profile, in order to ensure that you receive offers that are tailored to you. Boxsite believes that customers who have demonstrated positive behaviour through consistency should be able to reap the rewards of those efforts, including by receiving discounted and favourable pricing and rates on financial products and services. Boxsite does not guarantee, however, that you will receive offers for any particular types of products or services.
Advertisement Banners, Pop-ups, Etc.
Boxsite may include advertisements on its own behalf or paid advertisements on behalf of interested companies and/or individuals on the Service. By clicking on the advertisements, the Member may be transferred to a website of the advertiser or receive other messages, information, or offers from the advertiser. Members acknowledge and agree that Boxsite is not liable for the privacy practices of advertisers or the content of their websites, information, messages or offers. Members are wholly liable for all communications with advertisers and for all transactions subsequently executed.
When you click on an advertisement, we will not warn you that you have left Boxsite and are subject to the terms and conditions (including privacy policies) of another website or destination. Such advertisements and associated websites are not under the control of Boxsite. Boxsite provides these links only as a convenience and does not review, approve, monitor, endorse, warrant, or make any representations with respect to the advertisements, or their products or services. You use all advertisement links at your own risk. When you leave our Site our Terms and policies no longer govern.
Termination and Member Account Deactivation
The Terms commence on the date when you accept them (as described in the preamble above) and remain in full force and effect while you use Boxsite, unless terminated earlier in accordance with the Terms.
We may, in our discretion and without liability to you, with or without cause, with or without prior notice, and at any time: (a) terminate these Terms or your access to our Service, and (b) deactivate or cancel your Member account. Upon termination, we will promptly pay you any amounts outstanding to you. In the event Boxsite terminates these Terms or your access to our Service, or deactivates or cancels your Member account, you will remain liable for all amounts due hereunder.
You may cancel your Member account at any time by contacting Boxsite (firstname.lastname@example.org) and closing your account. Please note that if your Member Account is cancelled, we do not have an obligation to delete any reviews or feedback you have posted to the Service.
You may not assign or transfer these Terms, by operation of law or otherwise, without Boxsite’s prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be null and of no effect. Boxsite may assign or transfer these Terms, at its sole discretion, without restriction. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.
Unless otherwise specified herein, any notices or other communications permitted or required hereunder, including those regarding modifications to these Terms, will be in writing and given by Boxsite (i) via email (in each case to the email address that you provide) or (ii) by posting to the Site. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted.
Controlling Law And Jurisdiction
You agree that (i) the Service shall be deemed solely based in Antigua and Barbuda, and (ii) the Service shall be in the jurisdictions of Antigua and Barbuda. These Terms shall be governed by the internal substantive laws of the country of Antigua and Barbuda, without respect to its conflict of laws principles. You and we agree to submit to the personal jurisdiction of a court located in Antigua and Barbuda for any actions for which the parties retain the right to seek injunctive or other equitable relief in a court of competent jurisdiction.
YOU AND BOXSITE AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THE SERVICE OR COLLECTIVE CONTENT MUST COMMENCE WITHIN SIX (6) MONTHS AFTER THE CAUSE OF ACTION ACCRUES. OTHERWISE, SUCH CAUSE OF ACTION IS PERMANENTLY BARRED AND WAIVED.
These Terms are intended to govern the agreement between Boxsite and you to the extent permitted by all applicable laws, ordinances, rules, and regulations. If any provision of these Terms or the application thereof to any person or circumstances shall, for any reason or to any extent, be invalid or unenforceable, the remainder of these Terms and the application of such provision to other persons or circumstances shall not be affected thereby, but rather shall be enforced to the greatest extent permitted by law.
The failure of Boxsite to enforce any right or provision of these Terms will not constitute a waiver of future enforcement of that right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Boxsite. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise. If for any reason an arbitrator or a court of competent jurisdiction finds any provision of these Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect.
Any additional parts to the Service may have different or additional terms and conditions posted or may require you to agree with and accept additional terms and conditions. If there is a conflict between these Terms and the terms and conditions posted for a specific part of the Service, the latter terms and conditions will take precedence.
Boxsite reserves the right, at its sole discretion, to modify or discontinue, temporarily or permanently, the Service or to modify these Terms, including any Service Fees, at any time and without prior notice. If we modify these Terms, we will post the modification on the Site; however, we reserve the right to make any such changes effective immediately to maintain the security of our Service or to comply with any laws or regulations. We will update the “Last Updated” date at the top of these Terms.
Modifications to these Terms shall automatically be effective upon posting; provided, however, that material changes to the Terms will be effective as to an existing Member thirty (30) days after notice to the Member is provided on Boxsite’s website. You agree to keep your email address on file with Boxsite up-to-date. By continuing to access or use the Service after we have posted a modification or have provided you with notice of a modification, you are indicating that you agree to be bound by the modified Terms. If the modified Terms are not acceptable to you, your only recourse is to cease using the Service.
The original, legally binding version of this document is written in English. If this document is translated into other languages, there may be discrepancies between the English version and a translated version. If so, the English version supersedes the translated version.
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|Banks||Swift – Routing number|
|Bank of Nova Scotia||Main Branch-High Street 603350021|
|Bank of Nova Scotia||Antigua 183250023|
|Antigua Commercial Bank||'001320695|
|First Caribbean International Bank||Antigua 096260100|
|Royal Bank of Canada||Antigua 097250038|
|Royal Bank of Canada||Antigua 016000036|
|Eastern Caribbean Amalgamated Bank||Antigua 000000712|
|Caribbean Union Bank||282010708|
|Community First Cooperative Credit Union (CFCCU)||1320695|
|St. Johns Cooperative Credit Union (SJCCU)||1320695|
Please note RBC has two routing numbers and unlike Bank of Nova Scotia which differentiates accounts by where branch accounts were established, it is important that each person contact their bank to allocate which code reserves to them.