1. Welcome
In accordance with section 8 of the Wirex General Terms of Service, Wirex provides to its Clients a reward programme – X-Tras Programme. These X-Tras Programme Terms and Conditions together with the Wirex General Terms of Service, the Crypto-Asset Terms of Service, and any other documents referred to in these terms (the "X-Tras Terms"), set out the legal agreement between:
You, as the Wirex client; and
The Wirex company that provides you with access to the Wirex Service and your Wirex Profile is identified in the respective Wirex Crypto-Assets Terms of Service ("Wirex", or "we", "our", or "us").
By accepting these X-Tras Terms, you confirm that you have read, understood, these X-Tras Terms. You acknowledge and agree to be bound by these X-Tras Terms. If you do not fully understand these X-Tras Terms, you should not accept them.
2. What is WXT?
WXT is the native utility token of the Wirex Platform as outlined in further detail in our WXT White Paper.
WXT is a universal digital rewards token, primarily issued on the Stellar blockchain and designed to offer a range of benefits to eligible Wirex Clients, including but not limited to enhanced rewards, fee reductions, and participation in promotional programmes.
WXT may be:
- Earned as part of Wirex rewards programmes;
- Purchased directly through the Wirex Platform; or
- Traded via external platforms, where WXT may be listed.
WXT is intended for use solely in connection with the Wirex Platform, in accordance with the use cases described in the WXT White Paper. WXT is not designed or intended to function as a financial instrument, electronic money, or other regulated product under applicable law, and it may hold no inherent or guaranteed value outside of the Wirex ecosystem.
WXT earned from X-Tras Programme (“WXT Reward”) must be spent within thirty days (“WXT Expiry Date”) from when the date of the first WXT Reward deposit into your Wirex Account by Wirex. Following the WXT Expiry Date and if the WXT Reward has not been spent, we will charge you with a WXT Reward storage fee. The WXT Reward storage fee is twenty-five % of the WXT Reward starting balance and each time WXT Reward deposited into your Wirex Account every month for the next four months following the WXT Expiry Date.
We make no representations regarding the future value, transferability, or market liquidity of WXT. You should not acquire or hold WXT for investment or speculative purposes.
As with all cryptoassets, dealing in WXT carries significant risk. The value of WXT may fluctuate significantly and could decline to zero. We cannot and do not guarantee the stability or future value of WXT, and you accept the full risk of loss when acquiring or holding WXT.
Before acquiring or using WXT, you should assess your personal financial situation and tolerance for risk. You acknowledge that any purchase or use of WXT is made entirely at your own risk.
WXT may not be subject to financial regulatory protections in your jurisdiction. This means you may not have access to the same legal rights or compensation mechanisms as you would when purchasing regulated financial products. It is your responsibility to ensure that dealing in WXT is lawful in your country of residence and that you understand the risks involved.
WXT may be subject to tax in your jurisdiction. You are responsible for paying any tax due on any WXT you hold in your Wirex account. You should seek professional advice if you are unsure about whether you need to pay any tax and/ or how much tax you need to pay. Wirex will not be responsible to you for any amounts you are required to pay in tax or any penalties you face in connection with your purchase or receipt of WXTs.
3. X-Tras Subscriptions and Tiers
X-Tras programme is a comprehensive reward program that provides numerous benefits to Wirex Clients. Wirex offers its Clients three types of Subscriptions for their Wirex Profiles (“Subscription”):
- Standard Subscription: is granted to all Clients at no cost. This plan provides an access to basic level of benefits on the Wirex Platform.
- Premium Subscription: is a paid plan that provides additional benefits, services, and rewards beyond those offered under the Standard Subscription.
- Elite Subscription: is a premium, paid plan offering the highest level of benefits, rewards, and services available through the Wirex Platform.
In addition to the various Subscriptions offered by Wirex, Clients may also be assigned to one of three reward Tiers under the X-Tras programme: Entry, Enhanced, or Ultimate (“Tier”). These Tiers are designed to provide Clients with differing levels of X-Tras benefits and incentives.
The Entry Tier is the basic level in each Subscription and is available to everyone. If you want to unlock bigger rewards, the Enhanced and Ultimate Tiers require you to lock up WXT in your Wirex Account for 180 days. During that time, the WXT you have locked in your Wirex Account will be frozen, which means you will not be able to spend, transfer, or withdraw it until the 180 day period is over (“WXT Lock-In”).
Any WXT balance that exceeds the amount subject to the WXT Lock-In (“WXT Balance Excess”) will remain available for transactions. You may be eligible to earn a savings bonus on the WXT Balance Excess, calculated as a percentage interest rate determined by your applicable Subscription and Tier. The savings bonus will be paid on around the 1st day of each calendar month and will be based on the lowest WXT Balance Excess held in your Wirex Account during the relevant month.
Subscription and Tier are associated with the Client’s Wirex Profile and provides access to different features, rewards, and functionality of Wirex Platform. Clients may upgrade or downgrade their Subscription and Tier at any time, subject to the provisions set forth in these X-Tras Terms.
Wirex reserves the right, in its sole discretion, to update, modify, or reassign a Client’s Tier status at any time, and to amend the criteria and benefits associated with each Subscription and Tier without prior notice.
If you are in the Enhanced or Ultimate Tiers, you may get an annual percentage rate on your WXT Balances (“APR”) based on the smallest amount of WXT you held that month. Please be advised that you can only earn this bonus in WXT, not in traditional currency.
A number of merchant transactions are excluded from the X-Tras Programme, details available here.
4. Upgrading or Downgrading your Subscription
Upon opening a Wirex Profile, you will automatically be enrolled in the Standard X-Tras Subscription and placed in the Entry Tier, free of charge. This Subscription grants access to a baseline set of benefits as made available by Wirex from time to time.
You may upgrade your X-Tras Subscription at any time via the Wirex Platform to a Paid Subscription, choosing either the Premium or Elite plan.
Paid Subscriptions are valid for a period of twelve calendar months from the activation date and may be paid monthly or in full upfront. Clients who elect to pay the full twelve-month term upfront will receive a 15% discount on the total Subscription cost.
If you choose to upgrade your existing Paid Subscription your current Subscription will be cancelled and replaced with a new twelve month Paid Subscription commencing from the date of the upgrade. The previous term will not roll over or be refunded.
You have the right to withdraw from a Paid Subscription within fourteen calendar days of its activation (“Cooling-Off Period”). If you cancel during Cooling-Off Period and no transactions of any kind have been made under the Paid Subscription, you will receive a full refund. If any transaction is made during the Cooling-Off Period, your right to withdraw and claim a refund shall be automatically waived.
You may downgrade your Paid Subscription to the Standard Subscription, or downgrade your Tier, within the first ninety calendar days following the activation of your Paid Subscription (“Introductory Period”) without incurring a fee (“Break Fee”). You may downgrade your Paid Subscription at any time by contacting the Wirex Support Team. However:
1) If you downgrade more than two months before the expiry of your twelve-month Subscription term but after the Introductory Period, a Break Fee will apply:
- EUR 9.99 for Premium Subscription;
- EUR 29.99 for Elite;
2) If you downgrade within two months of the Subscription end date, no Break Fee will be charged, but payment for the current period of Subscription will still apply.
Unless you downgrade your Paid Subscription to the Standard Subscription at least one day before your Subscription term renews, it shall be assumed that you wish to continue your current Subscription. Accordingly, your Paid Subscription will be automatically renewed on the same basis and payment frequency.
If your Wirex Account does not contain sufficient funds to cover the Paid Subscription fee, you will be granted a preferential period of two weeks. During this time, you may continue to use your Paid Subscription benefits while you top up your Wirex Account. If no top-up is made within this period, your Paid Subscription will be temporarily suspended, and your access will revert to the benefits available under the Standard Subscription.
If you are paying monthly and fail to fund your Wirex Account for three consecutive months, your Paid Subscription will be automatically downgraded to the Standard Subscription.
You may re-subscribe to a Paid Subscription at any time via the Wirex Platform.
If you do not downgrade your Subscription in accordance with these Terms and fail to pay the applicable subscription fees, Wirex reserves the right to recover the outstanding amount by deducting funds from any available balance held in your Wirex Account. In such cases, Wirex may also charge a handling fee equal to 25% of the applicable Paid Subscription price.
5. Limitation of Liability
Wirex reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently-Tras programme with or without prior notice due to reasons outside its control (including, without limitation, in the case of anticipated, suspected or actual fraud).
We may also modify or discontinue X-Tras programme on reasonable notice to you. If we discontinue X-Tras programme, we shall honour any rewards for which you became eligible prior to 11:59 pm UK time on the last date of the rewards being available.
6. Amendments to these X-Tras Terms
We reserve the right to amend these X-Tras Terms at any time, without prior notice to you. It is your responsibility to review these X-Tras Terms periodically for any changes. Any changes to these X-Tras Terms will take effect immediately upon publication on the Wirex Platform.
7. Miscellaneous
These X-Tras Terms shall be governed and interpreted in accordance with laws specified in the Crypto Assets Terms of Service you have accepted.
Unless stated otherwise in these X-Tras Terms, if any provision is found to be invalid or unenforceable by a court or competent authority, such provision shall be deemed modified or, if necessary, struck out to the extent required, and the remainder of these X-Tras Terms shall remain in full force and effect.
The failure or delay by Wirex in exercising any right or enforcing any provision of these X-Tras Terms shall not be deemed a waiver of such right or provision. Any waiver must be made in writing to be effective. All rights and remedies under these X-Tras Terms are cumulative and not exclusive of any rights or remedies provided by law.
You may not assign or transfer any of your rights or obligations under these X-Tras Terms without our prior written consent. Wirex may assign or transfer its rights or obligations under these X-Tras Terms at any time without notice. No third party shall have any rights to enforce any part of these Terms.
Any dispute arising from or in connection with these Terms shall be subject to the governing law and courts specified in the Crypto Assets Terms of Service you have accepted, without prejudice to any rights the user may have under the laws of their country of residence or domicile, including the right to bring a claim before the courts of that country. Nothing in these Terms shall affect the user’s statutory rights as a consumer under the laws of their country.