We, City Exchange is a company registered in UAE and licensed by the Central Bank of UAE.
Key Fact Statement
- We request our customers to carefully read and understand the Key Fact Statements (KFS) below, which are also available in Arabic. By signing this document, you acknowledge that you have read and understood applicable fees, charges, and general terms and conditions published on the website and in this document.
- This document is the form of an acknowledgement by you and doesn’t intend to create any legal rights or obligations between the parties. In case of inconsistency between this document and the general terms and conditions of product-specific terms and conditions, the general terms and conditions and product specific terms and conditions shall prevail. In the event of a change, there is no obligation to amend this document.
- This KFS provides indicative information about the mentioned products. Hence, we advise you to consult with our staff for detailed information.
- Visit www.cityexchangeuae.com for detailed T&C, Disclosure & Transparency, AML Policy etc.
Our WPS solutions make it easy to pay salaries quickly, securely, and transparently. Trusted by businesses of all sizes, our streamlined salary disbursement service ensures timely payments to employees’ salary accounts.
WPS Onboarding
- The WPS onboarding process starts upon submission of the required documents.
- The WPS onboarding process may take 1- 5 business days.
- City exchange may ask for additional documents if it is necessary for the completion of internal verifications.
Payment Methods
City Exchange will accept following methods of payments from the employer.
- Cash
- Bank Transfers
- Cheques
Disposal Methods
City exchange adopted below salary disposal methods to the employees.
- Payroll Card
- Bank
Payroll Service
In compliance with the Wages Protection System (WPS), City Exchange provides payroll solutions for processing and disbursing salaries. The payroll service is powered by EDENRED(C3) and Kamel Pay. It is co-branded, open loop, master card.
Cooling-Off Period
The customer agrees and understands that all the transactions require immediate implementation, therefore, agrees to waive the Cooling-off Period of 5 business days for the smooth and immediate operation of the transactions.
Customer Profile Update
The Customer shall keep City Exchange informed at all times, of any change/alteration in their communication/contact details, residency status, visa, Emirates ID, Passport details and employer details by visiting the nearest branch. Iin case of non-submission of updated information or relevant documents, City Exchange reserves the right to inactivate the Customer’s accounts until updated information or documents are provided.
Customer Data Management and Privacy
City Exchange has strict policies, procedures, and controls in place to protect customer data, however, City Exchange’s employees are only permitted to access the Customer information which they require to perform their duties related to customer service. City Exchange treats customer information as highly confidential, and the Customer acknowledges and agrees that City Exchange may disclose or share the Customer information to/between:
- The City Exchange’s branches and agents.
- Third parties selected by the City Exchange and/or anyone mentioned above, wherever required for data processing, statistical and risks analysis purposes, but not limited to;
- Court order, regulatory requirement or any law enforcement authority.
Cancellations and Refunds
- Customers can request cancellation/refund/recall prior to the execution of the transaction by contacting any of our branches.
- Cancellations and refunds would be processed based on the discretion of City Exchange.
- Recalls can take up to 14 business days to be processed, which is solely depends on the counterparties/ correspondent banks.
Complaint Handling Procedures
Customer shall utilize the following channels to raise complaints regarding their transactions:
- Register Complaints through any of the City Exchange branches;
- Contact us at 600524899, +971-4-3933874 or compliants@cityexchangeuae.com
- Contact us through the website cityexchangeuae.com.
Fees and Charges (Excluding VAT) – WPS
| Particulars | Charge |
|---|---|
| SIF | Up to AED 50.00 Per File Up to AED 600.00 Per year (Max. 12 Files) |
| Disbursement | Up to AED 10/ Employee |
| Salary Report | Free for Soft copy. Up to AED 25 for Hard Copy |
Payroll Card (Edenred C3)
| Particulars | Charge | Frequency of payment |
|---|---|---|
| Cash Withdrawal at C3 pay/ RAK ATMs in UAE | Unlimited FREE on C3 Pay ATM’s & one (1) Free on RAK Bank ATMS Monthly | Per Transaction |
| Salary Withdrawal RAK ATM’s | Up to AED 2.00 | Per Transaction |
| Cash Withdrawal at any Bank ATMs in UAE | Up to AED 2.5 | Per Transaction |
| Declines charge in UAE | Up to AED 2.00 | Per Transaction |
| Balance Enquiry via C3 Pay ATM’s | Free | – |
| Balance Enquiry Via C3 Call Centre | Free | – |
| Balance Enquiry via Mobile APP | Up to AED 1.00 | Unlimited per month |
| Balance Enquiry Via other ATM’s in UAE | Up to AED 2.00 | Per Transaction |
| Card Replacement (Lost, stolen or Damaged) | Up to AED 50.00 | Per Statement |
| Pin by SMS via Call Centre(Forgotten PIN) | Free | – |
| Card Statement Hard Copy | Up to AED 50.00 | Per Statement |
| Card Statement Soft Copy | Up to AED 25.00 | Per Statement |
| SMS Salary alerts | Up to AED 0.50 | Per Alert |
| SMS per transaction alert | Up to AED 3.00 | Per Month |
| 3D Secure Online transaction (Failed) | Up to AED 3.00 | Per Transaction |
| New Card issuance | Up to AED 10.00 | Per Card |
| Card Renewal (Every 7 Years) | Up to AED 10.00 | Per Card |
| POS withdrawal (Transaction) | Up to AED 5.00 | Per Transaction |
Payroll Card (Kamel Pay)
| Particulars | Charge | Frequency of payment |
|---|---|---|
| Cash Withdrawal via Ajman Bank | First 2 Txn is free and AED 2.00 there after | Per Transaction |
| Cash Withdrawal via Other Bank | Up to AED 2.00 | Per Transaction |
| Card closure fee | Up to AED 2.00 | Per card |
| Card Renewal after 7 years | Up to AED 10.00 | Per card |
| Card Replacement for lost/ stolen card | Up to AED 25.00 | Per card |
| Card Statement Hard Copy | Up to AED 25.00 | Per Statement |
| Card Statement Soft Copy | Free | Per Statement |
| PIN replacement (Mobile APP/ Call Centre) | Free | – |
| Salary alert SMS | Free | – |
Warnings
- All charges are subject to approval by the management and existing charges can be revised at any time after notifying the employer.
- Only authorized signatories/representatives may deposit wages on behalf of employers.
- City Exchange is not responsible for incorrect deposits due to errors in employer-provided information.
- International withdrawals are subject to foreign conversion rates.
- City Exchange is not liable for any loss due to the misuse of the PIN or unauthorized use.
- City Exchange is not responsible for delays or errors beyond its control.
- The employees can withdraw their salaries through the designated ATMs. Withdrawals from other ATMs will be charges as per the respective Banks.
- Cash withdrawal through ATM and/or POS transactions made outside UAE will be in currencies of respective countries and conversion rates will be applicable.
