What senders agree to, and where
- Senders accept the terms inside the PayMitto experience during the transfer, so your institution doesn't need to collect acceptance itself.
- Acceptance is recorded: who accepted, and when, can be retrieved on request for your audits and exams.
- We can share the disclosure language with your compliance team for review. Ask your Implementation Manager.
Document names senders see: User Agreement and Privacy Notice. The entity shown is PayMitto, LLC.
What the disclosures cover
- Cancellation rights: once a transfer is successfully sent it can't be reversed, and before that there's a short window to cancel.
- Timing: a typical timeframe, not a promised delivery date.
- Fees at the receiving end: the receiving institution may charge fees that are outside our control.
- Where to complain: contact details for the regulated entity behind the transfer (the sponsor bank or payout partner).
Domestic and international transfers get different disclosures, because different rules apply. The right set is chosen by the transfer.
| When | What the sender sees |
|---|---|
| Before sending | General timing language and the terms they accept |
| At review | The full breakdown of amount, fee and rate |
| On the receipt | The formal disclosures, contact details and the receiving-fee note |
The receipt has the most detail. If your compliance team asks what a sender was told, start with the receipt. If your app setup stops senders downloading their receipt, tell us, because receipt delivery is a regulatory requirement.
Marketing that mentions PayMitto (Bancorp-sponsored programs)
Any marketing that mentions PayMitto needs these disclosures (Bancorp PayMitto Disclosure Rules v2.1):
- Always (except social posts): "PayMitto is a technology provider and not a bank or other regulated financial institution."
- Always, when the asset mentions sending money, transfers, remittance or the product, including social posts: "All regulated international transfer services associated with PayMitto are provided by The Bancorp Bank, N.A. Terms and conditions apply." Don't add "Member FDIC".
- If you make a timing claim: "Timing varies based on the destination country, delivery method, and is subject to banking hours and regulatory compliance."
- If you make a fee or rate claim: "Fees vary depending on the destination country, the chosen delivery method, and the amount you are sending. Recipient may receive less due to fees charged by the recipient's bank and foreign taxes."
- If you run a limited-time offer: "Offer valid [START DATE] – [END DATE]."
- Name: write "PayMitto" (capital P and M, one word, no ™ or ®).
Lines 1 and 2 go together as the first paragraph of the disclosure block, then the timing line, then the fees line, then the offer line. Your Implementation Manager can share the full placement guide and copy-and-paste templates.
MVB-sponsored programs: contact your Implementation Manager for the MVB disclosure rules.