Key Facts Statement

FOREIGN CURRENCY EXCHANGE

Definition

"You”, “your", “Consumer” or "Customer” means the customer. "We", "our “and "us" refers to Global Exchange Sole Establishment, licensed and regulated by the Central Bank of the UAE”.

Foreign Exchange

Foreign Currency Exchange service allows you to:

• Purchase Foreign Currency
• Sell Foreign Currency

Cooling off period

No Cooling-Off Period: It is the responsibility of the consumer to thoroughly review and understand the terms and conditions before finalizing a transaction. In the absence of a cooling-off period, any concerns or queries regarding the terms should be addressed prior to the transaction execution.

Key Terms and Conditions

• Remittance/FC Exchange do not involve third party transactions, Money Laundering or Terrorism Financing.
• All transactions will be subject to the AML/CFT laws & regulations issued by Central Bank of the U.A.E and the receiving country, the sender and/or beneficiary may be asked to provide necessary evidence or clarification to prove authenticity of the funds involved for effecting payment or refund.
• All customer information and supporting documents must be provided as per requirements of local and international regulations. The transaction may be blocked if found suspicious. The sender and beneficiary will be fully responsible for providing necessary evidence about any query, including source of fund, to prove the legitimacy and legality of the information and fund involved as well as any follow ups required with the concerned authorities to affect the payment or claim a refund. In such cases Global Exchange will not bear any responsibility.
• Currency once sold or bought can be returned only with a new transaction at prevailing rate.
• Customers must ensure the correctness of the transaction and are advised to verify the details on the receipt before leaving the counter. Upon signing the receipt, the customer confirms and acknowledges the correctness, authenticity and legality of the details and will be held responsible for the same.
• Customers are advised to proceed with the transaction only after obtaining full and thorough information on the products, services, rates or any changes on the system or process of Global Exchange. The staff or management of Global Exchange cannot be held responsible for delays in pay-outs or any other issues thereafter.
• Cancellation of a transaction can only be processed once the customer produces the original receipt and identification document at the counter. Transaction will not be refunded to a third party under any circumstances even with an authorization letter by the actual sender.
• Global Exchange reserves the right to recover in any amount paid in excess to the customer due to errors or oversights.
• Global Exchange reserves the right to change its service Terms and Conditions or products or business decisions without any prior notice to the customer.
• Global Exchange may refuse to execute any requests, instructions or services requested by the Customer if the Customer fails to comply with the necessary procedures; or if the information or data are incorrect or are in violation of the law applicable in the United Arab Emirates.
• Global Exchange will refund the unclaimed funds in accordance with regulatory authority guidelines.
• Global Exchange retains the right to amend the terms and conditions to comply with local laws or internal policies. Customers will be informed of any such changes via the website, branch disclosures, or electronic facilities.
• Global Exchange will provide customers a minimum of 60 calender days’ notice by updating on the website before changes to the terms and conditions of products/Services, including changes to service change or fees.

Important Notice

Transactions conducted by the customers are subject to local, federal and international laws as well as the Central Bank of the UAE regulations. All customer information and supporting documents must be provided as per the requirements of local and international regulations and standards. The transaction may be blocked by any party involved if found suspicious. The customer will be fully responsible for providing necessary evidence and clarification about any query, including the source of fund, to prove legitimacy and legality of the information and fund involved as well as any follow-ups required with the concerned authorities to effect the payment or claim a refund. In such cases, Global Exchange will not bear any responsibility.

Consent for Data Sharing

• We may collect and use your personal data (including name, contact details) for direct marketing purposes (i.e. Receive SMS, Phone and email communications from Global Exchange containing transactional, promotional and marketing material about our products and services from time to time).
• Your information may be shared with authorized agents to facilitate marketing activities on our behalf ((i.e. receive SMS, Phone and email communications from Global Exchange containing transactional, promotional and marketing material about our products and services from time to time).

Customer Acknowledgement

I/We acknowledge receipt and understanding of this Key Fact Statement. I/We also acknowledge that I/We have an understanding of the product/service features, pricing, benefits, risks, fees and terms and conditions as detailed in the Key Fact Statement. I/We acknowledge and agree that the provision of any services shall be at the Global Exchange discretion and subject to all applicable terms and conditions of the Global Exchange.

Complaint Process and Procedures

Any branch.
Email: cms@global-exchange.ae
Contact no: 0565150807
By post: Global Exchange, Al Khyeli St, Al Danah, Abu Dhabi, UAE

We will acknowledge your complaint within 2 business days and strive to respond to your complaint within an average of 5 business days.

Customer Name:…………………………………………….
EID/Passport no: …………………………………………..
Date & Time: ………………………………………………….
Customer Signature : ……………………………………..

This Key statement is presented to the Customer at the time of registration. By signing the receipt at the counter, the Customer acknowledges the receipt of and understanding of this Key Fact Statement. Further acknowledge that he/she has an understanding of the product/ service features, pricing, benefits, risks, warnings, fees and Consumer’s rights and obligations as detailed in the Key Fact Statement.

REMITTANCE

Definition

"You”, “your", “Consumer” or "Customer” means the customer. "We", "our “and "us" refers to the Global Exchange Sole Establishment, licensed and regulated by the Central Bank of the UAE”.

Remittances

• Customers can send and receive remittances, both locally and internationally.
• For remittance, the customer should provide the beneficiary details, like – Beneficiary name, Account number, IFSC, or whichever bank identification.
• Customers can place TT cancellation requests, before the transaction being executed & processed.
• Funds transferred can be recalled after execution subject to the approval of other financial institutions and the availability of funds and beneficiary debit authority.
• Fund Transfers can be requested only through branches.

Remittance service allows you to send payments with the following delivery options:

• Bank Accounts
• Cash Payout

* The available delivery options, categorized by customer types, are as follows:

* The available transfer options, are as follows:

Cooling off period

No Cooling-Off Period: It is the responsibility of the consumer to thoroughly review and understand the terms and conditions before finalizing a transaction. In the absence of a cooling-off period, any concerns or queries regarding the terms should be addressed prior to the transaction execution.

Key Terms and Conditions

• Remittance/FC Exchange do not involve third party transactions, Money Laundering or Terrorism Financing.
• All transactions will be subject to the AML/CFT laws & regulations issued by Central Bank of the U.A.E and the receiving country, the sender and/or beneficiary may be asked to provide necessary evidence or clarification to prove authenticity of the funds involved for effecting payment or refund.
• All customer information and supporting documents must be provided as per requirements of local and international regulations. The transaction may be blocked if found suspicious. The sender and beneficiary will be fully responsible for providing necessary evidence about any query, including source of fund, to prove the legitimacy and legality of the information and fund involved as well as any follow ups required with the concerned authorities to affect the payment or claim a refund. In such cases Global Exchange will not bear any responsibility.
• Transfers/Remittance are considered executed and delivered unless a claim is received within Three Months from date of remittance was made.
• Global Exchange reserves the right to use services of intermediary banks/ financial institutions for the execution of this transfer.
• Customers must ensure the correctness of the transaction and are advised to verify the details on the receipt before leaving the counter. Upon signing the receipt, the customer confirms and acknowledges the correctness, authenticity and legality of the details and will be held responsible for the same.
• The remitter thereafter will be fully liable for any ins and outs which are not limited to Misrepresentation, Omissions, Losses, Errors and Negligence, Fraudulent cases.
• Customers are advised to proceed with the transaction only after obtaining full and thorough information on the products, services, rates or any changes on the system or process of Global Exchange. The staff or management of Global Exchange cannot be held responsible for delays in pay-outs or any other issues thereafter.
• Cancellation of a transaction can only be processed once the customer produces the original receipt and identification document at the counter. Transaction will not be refunded to a third party under any circumstances even with an authorization letter by the actual sender.
• In case of any refunds, Global Exchange has the rights to avail the necessary charges incurred for the transactions including that of the correspondent networks.
• Global Exchange reserves the right to recover in any amount paid in excess to the customer due to errors or oversights.
• Global Exchange reserves the right to change its service Terms and Conditions or products or business decisions without any prior notice to the customer.
• “Transaction amount may be subject to additional costs and additional Fees may be imposed by the correspondent bank or financial institution providing financial services to the beneficiary of the remittances” .
• Global Exchange may refuse to execute any requests, instructions or services requested by the Customer if the Customer fails to comply with the necessary procedures; or if the information or data are incorrect or are in violation of the law applicable in the United Arab Emirates.
• Global Exchange will refund the unclaimed funds in accordance with regulatory authority guidelines.
• Global Exchange retains the right to amend the terms and conditions to comply with local laws or internal policies. Customers will be informed of any such changes via the website, branch disclosures, or electronic facilities.
• Global Exchange will provide customers a minimum of 60 calender days’ notice by updating on the website before changes to the terms and conditions of products/Services, including changes to service change or fees.

Important Notice

Transactions conducted by the customers are subject to local, federal and international laws as well as the Central Bank of the UAE regulations. All customer information and supporting documents must be provided as per the requirements of local and international regulations and standards. The transaction may be blocked by any party involved if found suspicious. The customer will be fully responsible for providing necessary evidence and clarification about any query, including the source of fund, to prove legitimacy and legality of the information and fund involved as well as any follow-ups required with the concerned authorities to effect the payment or claim a refund. In such cases, Global Exchange will not bear any responsibility.

Consent for Data Sharing

• We may collect and use your personal data (including name, contact details) for direct marketing purposes (i.e. Receive SMS, Phone and email communications from Global Exchange containing transactional, promotional and marketing material about our products and services from time to time).
• Your information may be shared with authorized agents to facilitate marketing activities on our behalf ((i.e. receive SMS, Phone and email communications from Global Exchange containing transactional, promotional and marketing material about our products and services from time to time).

Customer Acknowledgement

I/We acknowledge receipt and understanding of this Key Fact Statement. I/We also acknowledge that I/We have an understanding of the product/service features, pricing, benefits, risks, fees and terms and conditions as detailed in the Key Fact Statement. I/We acknowledge and agree that the provision of any services shall be at the Global Exchange discretion and subject to all applicable terms and conditions of the Global Exchange.

Complaint Process and Procedures

Any branch.
Email: cms@global-exchange.ae
Contact no: 0565150807
By post: Global Exchange, Al Khyeli St, Al Danah, Abu Dhabi, UAE

We will acknowledge your complaint within 2 business days and strive to respond to your complaint within an average of 5 business days.

Customer Name:…………………………………………….
EID/Passport no: …………………………………………..
Date & Time: ………………………………………………….
Customer Signature : ……………………………………..

This Key statement is presented to the Customer at the time of registration. By signing the receipt at the counter, the Customer acknowledges the receipt of and understanding of this Key Fact Statement. Further acknowledge that he/she has an understanding of the product/ service features, pricing, benefits, risks, warnings, fees and Consumer’s rights and obligations as detailed in the Key Fact Statement.