What are assumption underlying the potential saving calculator indicator?
Currenge provides, directly via its Website and/or indirectly via any other-website/s or platform, a presumably potential saving calculator indicator (hereinafter referred to as “Calculator Indicator”). The Calculator Indicator’s sole aim should be regarded as presenting the mere presumably about possible to-be achieved general scale of theoretically to-be achieved savings by a non-beneficiary Israeli-bank customer, by electronically converting currencies with Currenge in comparison to doing so electronically via a local Israeli bank branch or via a local Israeli bank Internet website, and on a transaction of an amount of the equivalent of at least USD 10,000.
The calculator Indicator which does NOT provide accurate information and should not be seen as providing accurate information has no other aim, and should NOT be interpreted by any user/s of Currenge’s Website and/or Clients of Currenge’s and/or users of third-party website/s containing the Calculator Indicator and/or its derivatives as having any other aim then the aim mentioned above.
While Currenge has considered many possible uses or misuses of the Calculator Indicator, it is unable to foresee all possible uses. Currenge cannot and does not warrant any of the Calculator Indicator’s results. The Calculator Indicator presents results that are provided solely to serve as preliminary informational, while comparing alternative electronic (not being of bank paper notes) currencies conversion cost/s to a conversion to-be executed in bank accounts held within Israel.
The Calculator Indicator’s user/s and/or Client/s is/are expected to thoroughly review and completely understand the full cost/s, by any relevant financial service provider including Currenge, associated with currency/ies conversion and/or purchase and/or sale and/or transfer and/or delivery and/or acceptance of transferred funds when using the Calculator Indicator, including with no limitation rates of currency/ies offered, bid-ask spreads offered by relevant financial institutes, and also professional terms related to such costs.
Should someone and/or an entity that may be a user of Currenge’s Calculator Indicator and/or A Client and/or A Client’s employee and/or representing A Client not fully understand, or even suspect it may not fully understand, any of the information presented on/by the Calculator Indicator and/or its presented results, he/she/it should contact Currenge, and must not rely at all on the Calculator Indicator and/or any of its presented results. Currenge contact information is available on The Website and/or The System.
Assumptions, to-be confirmed in real-time by The Client, underlying the above possible theoretical presumably potential saving, are among others, with no limitation that:
- You, are a non-beneficiary client of an Israeli bank branch,
- the regular, when there is no extra-ordinary currencies rate/s volatility, and as it’s known-to-Currenge foreign currencies trading bid-ask price spread offered by some Israeli bank branches to their non-beneficiary clients for major currencies against the Israeli New Shekel is about 1.8%, which half of it is considered as a cost,
- Currenge offers to convert using a bid-ask price spread of about 0.1%, which half of it is considered as a cost,
- Currenge serving monies fee is of the equivalent of 0.1%, where Currenge minimum amount to be served is about of the equivalent of $10,000,
- a non-beneficiary Israeli-bank such client is paying a 0.095% conversion fee, with a minimum amount of $3.35 and a maximum amount of $1,350.
- Nowadays, Currenge bank current accounts are held with HaPoalim, Leumi, Discount and Mizrahi-Tefahot banks. Currenge may convert monies using its accounts with such bank or with a leading Israeli licensed Investment House trading room, without limitation, it being Altshuler-Shaham Financial Services. Converting at a leading Israeli licensed Investment House trading room, may require an internal bank one foreign currency money transfer, which cost about $3-6.
- accepting foreign currency coming from another bank within an Israeli current account, may cost about 0.2% of received amount.
- transferring foreign currency from an Israeli bank to an account not within that bank costs about 0.1% of transferred amount if a direct transfer, or 0.2% if effectuated by a bank clerk, with minimum and maximum amounts, different in various banks. The fee described in this sub-section (h) is based on Bank HaPoalim published fee for a small client, and may differ from bank to bank, without limitation at Bank Leumi it may be of about 0.135-0.2025% of transferred amount, with a minimum and maximum dollar amounts, and
- converting money, in Israel, from one foreign currency to another foreign currency might be charged about as if it’s almost two conversions, while with Currenge it is charged, without limitation in bid-ask price spread cost, as if it’s a one conversion.
Therefore, by use of this Calculator Indicator, A Calculator Indicator User or Client also agrees to the following terms and conditions accompanying the use of the Calculator Indicator:
- Copyright and Trademarks: The Currenge Calculator Indicator is to be considered as copyrighted. All Calculator Indicator content included on The Website or on third-party website/s, such as text, graphics, logos, button icons, images, audio clips, video clips, presentations, articles, compilation (meaning arrangement, assembly), as well as, software, is the property of Currenge and protected by Israeli and/or international copyright laws. This Calculator Indicator is designated solely to provide only indicative information.
- Limited Warranties and Disclaimer of Liability: CURRENGE ASSUMES NO LIABILITY FOR ANY RESULT OF ANY DECISION MADE OR NOT MADE OR ACTION TAKEN OR NOT TAKEN IN RELIANCE UPON INFORMATION CONTAINED ON THE CALCULATOR INDICATOR, NOR DOES CURRENGE ASSUME ANY RESPONSIBILITY AND/OR RISK ATTENDANT OR MAY BE ATTENDED TO THE USE OF THE CALCULATOR INDICATOR.
FURTHERMORE, THE CALCULATOR INDICATOR IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. TO THE FULLEST EXTENT PERMISSIBLE BY APPLICABLE LAW, AND EXCEPT AS PROVIDED BELOW, CURRENGE EXPRESSLY DISCLAIMS ALL WARRANTIES, REPRESENTATIONS, OR ENDORSEMENTS WHATSOEVER IN CONNECTION WITH THE CALCULATOR INDICATOR, WHETHER EXPRESS OR IMPLIED, (INCLUDING WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NONINFRINGEMENT).
WITHOUT LIMITING THE FOREGOING, CURRENGE MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED: (I) AS TO THE OPERATION OF THE CALCULATOR INDICATOR OR THE INFORMATION, CONTENT, OR MATERIALS INCLUDED OR PRODUCED THEREON; (II) THAT THE CALCULATOR INDICATOR WILL BE UNINTERRUPTED OR ERROR-FREE; (III) AS TO THE ACCURACY, RELIABILITY, OR CURRENCY OF ANY INFORMATION, CONTENT, OR A SERVICE PROVIDED THROUGH THE CALCULATOR INDICATOR;
IN NO EVENT WILL CURRENGE BE LIABLE TO ANY PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, OR OTHER CONSEQUENTIAL DAMAGES FROM ANY USE OF THIS CALCULATOR INDICATOR, INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS, OR OTHER DATA ON YOUR INFORMATION-HANDLING-SYSTEM OR OTHERWISE, EVEN IF WE ARE EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
- A CURRENCY RATE/S YOU (THE CLIENT) WOULD PRESEUMBALY ACTUALLY BE ENTITLED TO, IS SUCH USED AT THE MOMENT/S OF THE ACTUAL CONVERSION/S AND/OR TRANSACTION, AFTER WE (CURRENGE) RECEIVE YOUR (CLIENT) TRANSFERRED FUNDS. SUCH RATE/S MAY REFLECT A DIFFERENT ACTUAL REAL-TIME SAVING THAN THAT OF A/THOSE THEORETICAL SAVING REFLECTED IN THE THEORETICAL CALCULATOR INDICATOR A WHILE BEFORE THE ACTUAL TRANSACTION TOOK PLACE.
- A MAJOR ASSUMPTION UNDERLINING THE CALCULATOR INDICATOR IS THAT MAJOR FOREIGN CURRENCY, WITHOUT LIMITATION TO RATE OF NEW ISRAELI SHEKEL AGAINST AMERICAN USD OR BRITISH GBP OR EUROPEAN EUR, RATE/S AGAINST THE NEW ISRAELI SHEKEL AVAILABLE TO YOU, BEING A NON-BENEFICIAL BANK CLIENT RECEIVING BANK SERVICE ON A BANK REGULAR BRANCH, ON YOUR BANK BRANCH REFLECTS A PRICE BID-ASK SPREAD OF ABOUT 1.8%, WHILE CURRENGE MAY ALLOW YOU TO CONVERT FUNDS ON A SPREAD AS LOW AS ABOUT 0.1%. IN ADDITION, IT IS ASSUMED ON THE CALCULATOR INDICATOR THAT YOUR TRANSACTION TAKES PLACE IN ISRAEL, IT MAY COSTS YOU ABOUT 0.2% TO RECEIVE OR TRANSFER OUT FOREIGN CURRENCIES IN YOUR ISRAELI BANK ACCOUNT, WITH A MINIMUN FIXED AMOUNT, AND IT MAY COSTS YOU ABOUT A 0.2% FEE TO CONVERT CURRENCIES, WITH A MINIMUM FIXED AMOUNT, AND THAT YOU ARE AN ISRAELI ENTITY.
CURRENGE ISRAEL LTD is a company incorporated in Israel with company number 515455376 and registered with the office of the registrant of companies (hereinafter referred to as “Currenge Israel Ltd” or “Currenge Israel” or “Currenge” or “We” or “Our” or “Us“).
Currenge Israel focuses on providing currency transfer service and/or additional services related to executing International payments, such as foreign exchange currency converted related services to its clients for the purchase and/or sale and/or conversion, and/or onward delivery of certain currencies (hereinafter referred to as “Services” or “The Services“).
Currenge Israel may offer and/or provide The Services also by any website maintained by it including without limitation the website in the Internet domain www.currenge.com or any other Internet suffix following the prefix www.currenge. , such as www.currenge.co.il, or any of its sub-domains or associated Currenge.com third party services or the website with any prefix before the currenge.com Internet domain (together hereinafter referred to as “Website” or “The Website” or “A Website“). Such A Website, or parts of it, may be hosted in any location on the globe.
You or any person or any other legal entity, including also that or those acting on the behalf of such other legal entity, requesting to engage in a Contract with Currenge Israel or filling in information on The Website or contacting Currenge Israel or any of its employees or any of its owners by any communication method, or requesting to transact with Currenge Israel, is defined to be a Client (hereinafter referred to as “Client” or “A Client” or “The Client” or “Clients” or “You” or “Your“).
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