Using the Virtual Account Sample Clauses

Using the Virtual Account. 4.1. About the Virtual Account. The Virtual Account allows Company to: 4.1.1. Fund and maintain the Available Balance in a Supported Currency (“Pay In”). 4.1.2. Convert a Supported Currency into a different currency as made available from time to time. 4.1.3. Facilitate the transfer of funds to an approved third-party account (“Pay Out”). 4.2. The Virtual Account is not a bank account. Company acknowledges and agrees that the Virtual Account is not a bank (deposit) account. Funds in the Virtual Account do not qualify as an investment or deposit, and therefore, national deposit insurance and investment compensation schemes (including, but not limited to, DSGs in the EU, the FDIC (U.S.), DPS (Hong Kong) etc.) do not apply. Funds are secured in compliance with legal requirements relating to the securing of funds by the entities providing the Service(s). No interest will be paid on funds in the Virtual Account.