Terms & Conditions
UAE EXCHANGE UK LIMITED ("UAE Exchange")
Customer Framework Agreement Terms and Conditions: Remit2India
These Terms and Conditions ("the T&Cs") and the Privacy Statement govern your use of UAE Exchange's Payment Services offered through the Website. You must accept and agree to abide by the T&Cs and acknowledge the content of the Privacy Statement before sending funds via the Website.
UAE Exchange has its registered office at 14-15 Carlisle Street, Soho Square, London W1D 3BS, UK. UAE Exchange is an Authorised Payment Institution and is authorised and regulated by the Financial Conduct Authority ("the FCA") under FCA Reference Number 504329. UAE Exchange is registered as a Money Service Business with HM Revenue & Customs as a Money Service Business under Registration Number 12161686.
"Applicable Regulations" means all laws and regulations from time to time in force relating directly or indirectly to the provision of Payment Services including, without limitation, the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002 and the Payment Services Regulations 2017;
"Beneficiary" means the beneficiary of a Payment Instruction;
"Beneficiary Account" means the bank account shown on a Payment Instruction which the parties agree is the bank account of the Beneficiary to which the Pay-out Currency is to be sent by UAE Exchange;
"Pay-out Currency" means the currency used for the Payment and for such amount as shown on the Payment Instruction;
"Customer" means a person who UAE Exchange has accepted as their customer in accordance with the Customer Verification Procedures, and who has agreed to be bound by the T&Cs;
"Customer Verification Procedures" means UAE Exchange's anti-money laundering and know your customer verification processes;
"Delivery Date"is the date when UAE Exchange's bank is instructed to send the Pay-out Currency to the Beneficiary Account;
"Foreign Exchange" means (in respect of a Payment Instruction where the Pay-in Currency is different from the Pay-out currency) the exchange of a given amount of the Pay-in Currency for a given amount of the Pay-out Currency);
"Nominated Account" is the bank account nominated by UAE Exchange in the Payment Instruction for the receipt of funds from the Customer or as otherwise nominated by UAE Exchange from time to time;
"Online Account" means an account set up for the Customer by UAE Exchange which gives the Customer the ability to give Payment Instructions through the Website;
"Payment" means a payment by UAE Exchange to a Beneficiary Account by means of electronic transfer or any other mode communicated by UAE Exchange from time to time;
"Payment Confirmation" means UAE Exchange's confirmation of the Payment having been executed;
"Payment Instruction" is an instruction from the Customer for UAE Exchange to execute a Payment;
"Payment Instrument" is any device or agreed set of procedures enabling the Customer to access any accounts, obtain information on the Customer’s account or give Payment Instructions to UAE Exchange;
"Payment Services" means the money remittance services (and, where relevant, associated currency exchange services) provided by UAE Exchange in accordance with these T&Cs;
"Privacy Statement" means the privacy statement of UAE Exchange as available on the Privacy Statement section of the website: www.remit2india.com
"Pay-in Currency" means the currency deposited to Nominated Account prior to initiating a Payment Instruction;
"Website" means UAE Exchange's online platform accessible at www.remit2india.com for providing Payment Services and other facilities as made available from time to time;
"Working Day" is a day when UK clearing banks are open for business; "Working Hour" is an hour during a Working Day.
Upon accepting the T&Cs and when issuing each Payment Instruction, the Customer represents and undertakes to UAE Exchange that:
- someone else knows their login or security details; or
- that their login or security details may have been misused or lost or stolen.
- treating security details as confidential and keeping them safe;
- never sharing or allowing others to use the Customer's login or security details;
- using up to date anti-virus software, anti-spyware software and a personal firewall to keep personal computer or mobile device secure;
- never accessing the Website or the Customer's Online Account from any computer or mobile device connected to an unsecure wireless or local area network (such as a public internet access device);
- never recording security details on any software which retains it automatically;
- immediately logging off from the Customer's Online Account once they have concluded their use;
- always accessing the Website via the link www.remit2india.com and entering security details; and
- always being sure of the identity of the Beneficiary.
- UAE Exchange reasonably believes or suspects that the transaction might be unlawful or might be associated with financial crime, or represent the proceeds of crime;
- UAE Exchange has reasonable grounds for suspecting fraud;
- UAE Exchange reasonably believes or suspects that by carrying out the transaction it might otherwise breach its legal or compliance obligations;
- if UAE Exchange reasonably believes that execution of the Payment Instruction may have a detrimental effect on UAE Exchange's reputation;
- if the Payment Instruction exceeds UAE Exchange's maximum threshold limit;
- if the Customer is in breach of these T&Cs;
and the Customer agrees that UAE Exchange will not be liable to the Customer if UAE Exchange delays or refuses to carry out any Payment Instruction in such circumstances.
- Failure or error or essential maintenance or critical change or, repairs or alteration of any computer system or communications system or transmission link of any kind under the control of a third party or UAE Exchange; or
- The acts or omissions of any third party; or
- UAE Exchange or any bank making necessary enquiries as required by Applicable Regulations.
UAE Exchange shall be entitled to charge the Customer fee for the Payment Services. In addition, UAE Exchange may also collect additional charges from the Customer which it may be required by law to collect (for example in respect to taxes which may be payable in respect of the sums remitted to the Beneficiary).
- If delivered personally, at the time of delivery to the address;
- If sent by first class pre-paid post, two Working Days after posting;
- If sent by fax or email, at the time of its transmission.
The Customer understands that UAE Exchange will process Customer and Beneficiary personal data in accordance with the UAE Exchange Privacy Statement available at the Privacy Statement section of www.remit2india.com
These T&Cs, any Payment Instructions issued thereunder and the Privacy Statement are governed by, and shall be construed in accordance with, English Law and the parties hereto submit to the non-exclusive jurisdiction of the English Courts.