Terms & Conditions

1. Introduction

• Welcome to Send Exchange. To ensure a transparent and secure experience, customers are advised to carefully review our comprehensive Terms & Conditions, which govern use of our wide range of products and services by our customers. These terms have been designed to provide a clear understanding of customer’s rights and obligations when engaging with Send Exchange. By using our services, customer acknowledges his/her your agreement to these terms.

2. Definitions:

• “Exchange”: Means Send Exchange L.L.C and its branches, successors, and legal assigns.
• “AED” means the lawful currency of the United Arab Emirates.
• Remittances: Means transfer of fund on customer’s behalf in local or foreign currency as per his/her instructions to any beneficiary account maintained with another Bank.
• “Beneficiary” means the intended recipient of funds as transferred by the Exchange upon the instructions of the Customer through the Remittance Service provided by Send Exchange.
• “Sender or Remitter”: means the person who initiates the carrying out of a money transfer through the Remittance Service provided by Send Exchange.
• “Reference Number”: means the unique transaction number, which will be issued to the customer and which the beneficiary will be required to provide to our partners in order to receive the amount transferred.
• “Fees”: means the charges and fees we charge to the customer for the Service, as applicable.
• “Central Bank” means the Central Bank of the UAE.
• “Customer” means a natural or legal person who has used Send Exchange product or service and been allotted a Unique Identification Number (UIN).
• “Customer’s Instructions” means any instruction given by the Customer to the Exchange.
• “Foreign Currency” means any currency approved by the Exchange other than “AED”.
• “Payment” means a transfer of funds by the Send Exchange to a Beneficiary pursuant to Customer’s instructions.
• “Payment Instruction” means payments on behalf of a customer which may include, but are not limited to a draft, telegraphic transfers or via other means provided by Send Exchange partners.
• “Schedule of Fees”: means the table announced in the Send Exchange branches and/or its website that includes commissions, fees, deductions, charges, and expenses that are charged to the customer for the services provided in accordance with these Terms and Conditions or the terms mentioned in the Key Fact statement of the products and services, as may be amended from time to time by addressing at least a two-month notice to the Customer prior of the effective date of such amendment. The Customer shall be deemed to have accepted such amendment if he continued in benefiting from such services after this period. This shall be done subject always to the Central Bank’s regulations.
• “Service Fee” means, in respect of these Terms and Conditions, the service fees payable to the Exchange by the Customer.
• “UAE” means the United Arab Emirates.
• “Transactions”: means any instructions initiated by the customer, relating to availing Exchange’s products and services.
• “Agent (S)” means, any third party required and/or appointed by the Exchange to provide any part of the Service or to support, operate or administer the services offered by the Exchange, including but not limited to Card, PIN, TPIN, SMS PIN or any other service.
• “Authorized Person” means a person authorized by the Customer to act on behalf of the Customer in relation to any transactions.
• “Money Transfer Regulations”: means the applicable laws, rules, and regulations of the United Arab Emirates and/or of the country where funds are intended to be received.
• Website: means the website www.Sendexchange.com operated to provide online money transfer services and related information.

3. Registration

• When a transaction is processed by a customer in any of Send Exchange branches, the customer is registered with a Unique Identification Number (UIN) in Exchange’s record. This registration is supported by valid identification document provided by the customer, such as passport or Emirates ID. The Exchange staff may request the customer to provide additional information about the customer or additional documentation such as proof of address or income statement to complete the Customer Due Diligence (CDD) process. Exchange’s staff may also ask to provide additional information about the customer’s transaction such as the recipient’s details and purpose of the transaction. Each transaction processed by the customer is given a system generated Reference Number for raising any inquiry about such transaction.

4. General Terms and conditions:

• 1) By applying for and using the Send Exchange Services at the Branch or online, the customer acknowledges and accepts these Terms and Conditions, the specific Terms and Conditions mentioned in the Key Fact statement of the relevant product or service and any supplementary terms and conditions that may be issued from time to time be in force.
• 2) Currencies once exchanged, will be bought/sold only at our Prevailing Exchange Rate of the Send Exchange for buying/selling.
• 3) The customer should count money before leaving the counter. Exchange will not be responsible for any claims whatsoever afterwards.
• 4) The customer's signature on the receipt means his/her acknowledgment of the validity of the data and details of the transaction given by him/her. Exchange will not be responsible for any mistake or omission caused in transmission or any incorrect information in the receipt and the remitter shall fully be liable for such consequences of late payment/non-payment.
• 5) Send Exchange reserves all the rights to execute transfers through Agents in any country of its choice for the execution of the transfer.
• 6) The transactions processed by the Exchange will be subject to the laws of the UAE and Intermediary/Destined Countries and can be Blocked/Freeze in case found suspicious.
• 7) The Sender/beneficiary will be fully responsible to provide necessary evidence and clarification to prove authenticity/legality of Entities/Funds involved and follow up the concerned authorities for effecting payment or refund in such case. Send Exchange will not bear any responsibility in the respect.
• 8) On amendment of payment-order details, charges and change in conversion rates shall be borne by the remitter due to incorrect or incomplete information given by him/her.
• 9) Send Exchange does not give any guarantee on the exact time required for funds to be credited to the beneficiary’s account.
• 10) Any bank charges at foreign correspondent banks for money transfers, if any, is deducted from the amount payable to the beneficiary.
• 11) Minimum service charges, wherever applicable, will be paid by remitter, prior to processing the inquiry on non-receipt of funds.
• 12) Send Exchange will not collect/deduct any form of charge from the remitter, if payment-order process resulted in an error by its staff, or bank or agent.
• 13) Send Exchange LLC or its branches/correspondents/agents accept no responsibility/liability, whatsoever, in any form for delays, bank charges, fee deductions, omissions, funds confiscated by the beneficiary bank/correspondent bank/government/agent.
• 14) Cancellation of payment order requires remitter’s written notification, valid reason and should be produced along with original payment order receipt.
• 15) Refund shall be provided once the stop-payment is confirmed (or) funds are received back from the correspondent bank or its agent.
• 16) Any Fund Transfer transaction complaint shall be placed through the provided channels within a maximum period of 14 days from the date of transaction.
• 17) All refunds will be in UAE Dirhams (AED).
• 18) Transactions will be considered as executed unless any claim contrary to this could receive from the remitter within 3 months from Cash collection and 6 months for Bank-to-Bank Transfer from the date of remittance.
• 19) Refund against cancelled transfers or any other remittance transactions returned unpaid for whatsoever reason will be made at prevailing exchange Buying rate of the Exchange after deducting correspondence and banking charges.
• 20) The terms and Conditions of Instant money transfer service providers shall be applicable for all transactions processed through them. For inquiries about their terms and conditions, please use the links to the website provided at our website www.sendexchange.com
• 21) The Exchange shall be entitled to freeze any funds or take other action necessary if the Exchange believes the funds to have been obtained other than through lawful means or arising from an unlawful transaction. The Exchange’s judgment in this respect shall be conclusive.
• 22) The Exchange may refuse to execute any requests, instructions, or services requested by the customer if they fail 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.
• 23) The Exchange may also report any money laundering, illegal and/or suspicious transactions by the customer to the authorities within the UAE or abroad.
• 24) The Exchange shall comply with all anti-money laundering laws and regulations in force and applicable to it from time to time, and may at its discretion call for additional details or information about the Customer or beneficiary of transfer or the transaction and provide the same to regulatory authorities involved in the said operations. The Exchange will not take any responsibility for delayed execution of transactions if the information called for is not provided by the Customers in time.
• 25) The customer agrees to indemnify Send Exchange, its employees, and agents from any claims that may arise during the course of interactions with Exchange and use of our services. These claims may include but are not limited to delays in transactions, delivery failures, mistakes, losses resulting from incorrect information in transaction receipts, any fraudulent activity by customer, and circumstances beyond the Exchange’s control, such as force majeure events or disruptions in communication systems. We clarify that our liability is limited to the timely execution of necessary amendments, whenever feasible, to address any issues that may arise during customer’s transactions. In certain cases of errors or oversights, Send Exchange reserves the right to recover any amounts paid by the customer.
• 26) The Customer agrees to use Exchange’s services only for lawful purposes and in accordance with these Terms and any applicable Regulations. The customer will not use Exchange services to conduct any illegal activity, including but not limited to money laundering, fraud, or terrorist financing.
• 27) By using Exchange’s services, the customer agrees to confirm that the customer has received clear and comprehensive information regarding our products and services, including their rates, associated fees, and the requisite documentation and information needed to facilitate transactions. This ensures that customer makes informed decisions when engaging with Send Exchange.
• 28) The customer agrees to provide his/ her consent to receive SMS or email messages from Send Exchange and/or Send Exchange designated service provider for promotional and/or transactional purposes.
• 29) For further inquiries and details on terms and conditions of all Send Exchange Exchange’s products and services, please visit our website www.sendexchange.com