Terms & Conditions

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Terms and Conditions
  1. Currency once bought or sold can be returned only with a new transaction at the prevailing market rate.
  2. Please count your money before leaving the counter and obtain a receipt for your transaction. Neither Al Shorafa Exchange nor its employees will be held liable for any claims or shortages thereafter.
  3. Al Shorafa Exchange has the right to recover any amount paid in excess to the customer due to errors and oversights.
  4. Cancellation and refund of the remittance transaction will be done at current market rate or transaction rate whichever is lower. Transaction Service charges are also non-refundable.
  5. Remittance transaction which is requested for cancellation will not be refunded or re-processed until unless funds are not credited to our account.
  6. Any transaction-related complaint should be lodged within a maximum period of Ten (10) calendar days from the date of the transaction.
  7. The rates available on our website or branches are symbolic only and are subject to change according to market fluctuations.
  8. Outwards remittances through instant money transfer service or other financial institution are considered executed and delivered unless a claim is received within 90 calendar days from the date of transaction.
  9. Inward remittance transaction will be returned to originator if customer is unable to collect the funds with in 30 calendar days from date of transaction.
  10. If the customer or beneficiary is under the sanctions of Central Bank of the UAE list and the United Nation list. The sender and beneficiary 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 affect the payment or claim a refund.
  11. Original valid Emirates ID for residents and original Passport with visit visa must be provided while performing any transaction.
  12. I certify that the funds used to execute this transaction are not related to money laundering, terrorist financing or any other illegal activity.
  13. I understand that this transaction requires immediate implementation and hence the customer agrees to waive the cooling off option for the transaction to occur.
  14. By signing I, hereby grant consent to share my information with authorized agents and third parties related to the Exchange House. The information to be shared may include, but is not limited to, name, contact details, transaction details, etc. The information will be shared for the purpose of processing the transaction, provide adequate customer support, marketing and advertising on information related to products on offer. This consent is valid until you remain as an active customer in our records.
  15. Al Shorafa Exchange reserves the right to use services of intermediary banks and financial institutions in any country of its choice for the execution of transfer. Back-end charges or any other bank charges at foreign correspondent banks will be deducted at the receiving end (if any).
  16. Any amendments or re-issuance of the remittance transaction requested by the customer for whatsoever reason will be subject to our regular charges and settlement of any rate differences, if applicable.
  17. Upon signing the receipt, the customer confirms and acknowledges the correctness, authenticity and legality of all the transaction details and he will be held responsible for any discrepancy.
  18. Al Shorafa Exchange and its agents are held harmless from any claims, due to delays, delivery failures, mistakes and losses resulting from any wrong information provided by customer in the transaction receipt as well as force majeure events or any other circumstances beyond our control.
  19. Al Shorafa Exchange will not be responsible If the Exchange is prevented from doing so by the court order/Government actions or the originating institution/Correspondent Institution/Paying Institution. or If the transaction is blocked by any party involved, because of suspicion.
  20. Any complaints, queries, feedback on our services or fraud incidents can be raised through our official email address customercare@alshorafaexchange.com or our dedicated line +97142208591
  21. Al Shorafa Exchange will not disclose confidential information about the customer to any third party unless it is required to do so by any applicable law or regulation within and outside the region.
  22. Al Shorafa Exchange shall assume the responsibility of protecting consumers’ data and maintain the confidentiality of the data held with it or with a third party and disclose the data only to approve, facilitate, administrate, and process applications/transactions or to respond to the queries of the relevant law enforcing authorities inside and outside the country.
  23. Al Shorafa Exchange may use customer’s contact details to notify their promotional or advertisement events through SMS, WhatsApp or email. Any concerns may be addressed to our customer care desk. For further inquiries and details on terms and conditions of all Al Shorafa Exchange products and services, please visit our website www.alshorafaexchange.com or call +97142208591
Al Shorafa Exchange
Licensed by Central Bank of the UAE