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Terms and Conditions

General Terms and Conditions

The terms and conditions set forth herein govern all transactions between City Exchange, based in the United Arab Emirates (“City Exchange” or “We”), which expression shall include its successors and assigns, and the person or persons transacting with City Exchange. The signature by the customer on the transaction receipt shall constitute acceptance of the terms and conditions, which are subject to periodic changes at the sole discretion of City Exchange. These general terms and conditions apply to all customers transacting with City Exchange. Any special terms and conditions agreed between the customer and City Exchange shall override these general terms and conditions.

A. Definitions :

  • Know Your Customer (KYC) : The process of understanding or verifying the details, including but not limited to the identity of the customer or beneficiary, the transaction, etc.
  • Source of Funds (SOF) : The source of the money that is being used to fund the transaction.
  • Forex : Trading of currencies against each other; for instance, the US dollar against the AED.
  • Force Majeure : Unmanageable events (such as war, an act of God, or extreme weather) that are not the fault of any party and make it challenging or impossible to carry out regular business.
  • Freezing or Frozen : Temporary attachment over the moving, conversion, transfer, replacement, or disposition of funds in any form, by an order issued by a competent authority.
  • Confiscation : The permanent expropriation of private funds, proceeds, or instrumentalities by an injunction issued by a competent court.
  • Partners : Legal entities including but not limited to correspondent banks, payout agents, money transfer organizations, etc., with whom City Exchange has agreed upon the successful completion of a money transfer service.
  • Intermediaries : Entities involved in completing a remittance transaction.
B. General:
  1. Customers must be 18 years or older to avail of our services.
  2. Transaction amounts are computed in AED only.
  3. City Exchange shall provide an official receipt for transactions made at the City Exchange branch or via the digital platform. For future queries on the transaction, the official transaction receipt may be requested to produce.
  4. The customer is responsible for checking the value, quality, and validity of the banknote paid to or received from City Exchange before leaving the branch counter. Neither City Exchange nor its employees will be held liable for any discrepancies or claims raised thereafter. City Exchange has the right to recover any amount paid in excess to the customer due to errors or oversight.
  5. Upon signing the transaction receipt, the customer confirms/acknowledges the following:
    • 5.1. The correctness, authenticity, and legality of data/information provided to conduct the transaction.
    • 5.2. Read, understood, and accepted the terms and conditions applicable to the respective transaction.
    • 5.3. The identity and address of the parties in the transaction, including their legal entity, are confirmed, and the funds involved in the transaction are not generated out of or used for any money laundering purposes, funding terrorist activities, or any other illegal purposes.
    • 5.4. The forex rate and service charges/fees are agreed upon between the customer and the City Exchange official.
    • 5.5. The total amount of the transaction will be rounded to the nearest multiple of 25 fils (AED 0.25).
    • 5.6. Provide additional documents/information relating to the transaction as and when requested.
    • 5.7. The customer and/or any other applicant indemnify and keep indemnified City Exchange and all City Exchange’s staff/officials/managers/partners/legal heirs/successors/directors from any financial loss, damages, claims, demands, legal costs, and expenses of any nature for carrying out a service based on customer request. Such request may be received by City Exchange via the existing mode or an agreed mode of communication.
  6. City Exchange sends out communication related to products, promotions, exchange rates, and offers through SMS/Email/Call. If you are not favorable to this, please call +971 4 3933874 to opt-out.
  7. City Exchange is free to use the services of any partner of its choice to complete a transaction.
  8. A transaction constitutes the right of City Exchange to disclose data/information regarding the respective transaction with its partners and authorized agents to complete the transaction and to abide by their internal policies and regulations.
  9. City Exchange will respond to queries received from regulators, government bodies, and partners with or without reference to the customer.
  10. City Exchange only collects customer/transaction data for a lawful purpose that is directly/indirectly related to the licensed activity of City Exchange. Failure to provide required data or information by the customer may result in refusal of stated service or the customer may be subject to legal consequences if any.
  11. To maintain the safety/privacy/security of the transaction(s), the customer should not disclose information about the transaction, including but not limited to the reference number or value of the transfer, to any other party other than the intended beneficiary.
  12. City Exchange is not liable for any delay/hold to a transaction imposed by the competent authority/service provider/correspondent bank based on their internal policies or regulatory guidelines.
  13. City Exchange is obliged to retain information about customers and transactions for up to 5 years from the date of the transaction or after the termination of the customer’s relationship with City Exchange or as required by applicable law and regulations.
  14. Withdrawal of any expressed consent by the customer shall be communicated in writing, and such a request may take 30 calendar days to complete by City Exchange.
  15. City Exchange shall not be liable to the customer for any loss, damage, or delay attributable in whole or part to actions by any government, partner, agency, or other force majeure events, including but not limited to strikes, industrial action, technical failures, or interruption of power supplies.
  16. Transactions for which the customer has paid by cheque/online fund transfer shall be processed only after receipt of the respective fund in City Exchange’s bank account. If the cheque or online fund is not received within 24 hours from the time of the transaction, City Exchange has the right to cancel the transaction without notice to the customer.
  17. If the cheque is dishonored or rejected by the bank for any reason, the customer agrees to settle the full transaction amount in cash/cheque/online fund transfer along with an amount equal to any loss incurred by City Exchange due to changes in forex rate and other charges. If the customer fails to settle the due amount in an agreed time, City Exchange reserves the right to cancel the transaction without prior notice and to take necessary legal action to protect its interests.
  18. City Exchange has the right to deactivate the customer profile due to insufficient or inaccurate information provided by the customer and matters related to AML compliance policies and procedures. Customers may or may not be intimated about such deactivation. Customers can request profile activation by visiting the City Exchange branch and completing the reactivation procedures.
  19. The customer authorizes City Exchange to act on and execute facsimile orders/Email orders and instructions for all transactions made through such means. The customer acknowledges that such means could be subject to, without limitation, system failure, illicit acts, fraud, hacking, etc. Therefore, City Exchange cannot be held responsible for verifying the authenticity, genuineness, accuracy, and completeness of any correspondence made through electronic means. Any facsimile order or Email bearing the customer’s name or company name shall be deemed to be issued by the customer and considered official instructions to City Exchange.
  20. The products and services offered by City Exchange are subject to adherence to the regulations and policies laid down by City Exchange, its partners, and third-party agents involved in completing the transaction and by their regulators.
  21. If the customer suspects that a transaction is carried out using his/her details and the same is not being authorized by him/her, it shall be reported immediately to City Exchange by calling +971 4 3933874 or emailing info@cityexchangeuae.com.
  22. These terms and conditions create legally binding obligations for the customer that do not contravene other contractual or legal obligations of the customer.
  23. Changes to any of the terms and conditions listed here that affect the transactions or an existing agreement with the customer shall be communicated with the respective customer not less than 60 calendar days in advance.
  24. City Exchange holds the right to refuse any transaction or limit the amount to be transacted if we suspect the transaction:
  • 24.1. Conflicts with the law, regulation, policy, or other duty and responsibility that applies to us.
  • 24.2. Exposes us to action from any government or regulators or is linked with fraudulent or illegal activity.
  • 24.3. Details provided by the customer are incomplete, incorrect, unauthorized, or forged.
  • 24.4. For any other reasons beyond the control of City Exchange.
  1. These terms and conditions are governed and interpreted under the laws of the Emirate in which the City Exchange branch/Head office is located, as well as the applicable federal laws of the United Arab Emirates. Any lawsuit or dispute, emerging from the relationship between City Exchange and its customer or otherwise, shall be subject to the jurisdiction of the civil courts of the Emirate in which the branch is situated, but without prejudice to City Exchange’s general right to take proceedings in any court whatsoever.
C. Product Specific
  1. Remittance transactions are considered executed and delivered unless a claim is received within 90 days from the date of the transaction.
  2. For remittance transactions, the beneficiary account will be credited by the bank based on the account number and/or IBAN number only as per the policy or regulatory guidelines wherever this condition is applicable.
  3. Amendment/Cancellation/Re-issuance of a remittance transaction is subject to:
    • 3.1.  Service fee as applicable.
    • 3.2. Applicable policies and procedures, fees/charges of the partner, regulator, and third-party agents.
    • 3.3. Where the transaction needs to be canceled and refunded to the customer (due to the request made by the customer), the refund amount will be computed based on the forex rate applied in the original transaction or the prevailing forex rate, whichever is lower. The commission amount won’t be refunded to the customer in this case.
    • 3.4. All refunds are made in AED only.
  4. The remittance transaction is subject to applicable laws & regulations of the UAE and the countries involved in transmitting the fund. If a transaction is blocked, held, or rejected by City Exchange or intermediaries involved based on the applicable laws and regulations, the sender/beneficiary is responsible for providing the necessary documentation or clarification as required.
  5. Transaction data, including the remitter’s and beneficiary’s details in full/partial, is shared with partners who are involved in completing the transaction. City Exchange shall ensure the confidentiality of the transaction data, including when it is held, accessed, or used by authorized users and agents.
  6. Foreign currency sale/buy transactions cannot be canceled or refunded once the transaction is completed.
  7. City Exchange does not sell or buy foreign currency coins or traveler’s cheques.
  8. Sales and purchases of foreign currency are subject to any restrictions imposed by the regulatory bodies of the currency-issuing country.
  9. City Exchange is not responsible and will not compensate the customer for any loss incurred as a result of forex rate fluctuations or instabilities.
  10. City Exchange or its partner shall not be held liable for any form of bank charges, fee deductions, falsification, or dishonor of a cheque or other instrument, or for the failure to credit or any delay in crediting the account or non-payment and return of cheques or other instruments, fund confiscated, late presentation, omission, and granting time, by the beneficiary bank, its government, or agents.
  11. For corporate customers, terms and conditions as agreed through the corporate onboarding document shall also be applicable which are additional to the terms and conditions mentioned hereby.

Table of Contents

1. INTRODUCTION....................................................................................................................................................................................................................................................... 2
2. GENERAL TERMS & CONDITIONS.................................................................................................................................................................................................................. 2
3. FOREIGN CURRENCY SALE & PURCHASE................................................................................................................................................................................................. 3
4. DEALING IN SALE AND PURCHASE OF FOREIGN CURRENCIES AND TRAVELERS’ CHEQUES........................................................................................ 4
5. EXECUTING REMITTANCE OPERATIONS IN LOCAL AND FOREIGN CURRENCIES................................................................................................................ 4
6. PAYMENT OF WAGES THROUGH ESTABLISHING A LINK TO THE OPERATING SYSTEM OF “WAGES PROTETION”............................................ 5
7. CASH COLLECTION ARRANGEMENTS FOR PENSION ON BEHALF OF GENERAL PENSION & SOCIAL SECURITY AUTHORITY(GPSSA).................................................................................................................................................................................................................................................. 5
8. CASH COLLECTION ARRANGEMENTS FOR VALUE ADDED TAX (VAT) ON BEHALF OF FEDERAL TAX AUTHORITY............................................ 6
9. CREDIT CARD BILL COLLECTION......................................................................................................................................................................................................................6
10. AIR ARABIA................................................................................................................................................................................................................................................................ 6
11. AML DECLARATION................................................................................................................................................................................................................................................. 7
12. PAYING WITH BANK TRANSFER....................................................................................................................................................................................................................... 7
13. TRANSACTION HISTORY...................................................................................................................................................................................................................................... 7
14. STATUS OF TRANSACTIONS - COMPLETED (OR) PROCESSED..................................................................................................................................................... 7
15. PROFILE INACTIVATION........................................................................................................................................................................................................................................ 7
16. RECORD MAINTENANCE...................................................................................................................................................................................................................................... 7
17. DEFINITIONS................................................................................................................................................................................................................................................................ 8
18. CUSTOMER RESPONSIBILITIES AND OBLIGATIONS................................................................................................................................................................................ 8
19. FEES AND PAYMENT METHODS......................................................................................................................................................................................................................... 9
20. CANCELLATIONS AND REFUNDS..................................................................................................................................................................................................................... 9
21. CONFIDENTIALITY/ PRIVACY............................................................................................................................................................................................................................... 9
22. COMPLAINTS, FEEDBACK OR SUGGESTIONS.......................................................................................................................................................................................... 10
23. WRITTEN COMMUNICATIONS.......................................................................................................................................................................................................................... 10
24. REVIEW OF THE T & C ...........................................................................................................................................................................................................................................10
25. PROCESS FOR CHANGING THE TERMS AND CONDITIONS OF CITY PRODUCT, SERVICES & FEES.............................................................................10

1. INTRODUCTION

Terms and Conditions constitute a legal agreement between a business and its customers. It sets out what customers can expect from a business, as well as what the business expects from its customers. City Exchange strongly believes that creating a strong Terms and Conditions agreement will provide transparency about the products and services that are offered to its customers.

2. GENERAL TERMS & CONDITIONS

The Terms and Conditions set forth herein govern all transactions between City Exchange in the United Arab Emirates (the Exchange, which expression shall include its successors and assigns) and the person or persons transacting with City Exchange. Signature by the Customer on the transaction form / receipt/ voucher shall constitute acceptance of the Terms and Conditions herein, as amended from time to time. These Terms and Conditions are applicable to each Customer irrespective of any special conditions agreed by the Customer in relation to any specific services.

  1. City Exchange or its agents shall not be held liable for the loss, mutilation, or dishonor of cheque or other instrument or for the failure to credit, late presentation, and granting time, any delay in crediting the Account or non-payment and return of cheques or other instruments.
  2. City Exchange shall not be liable to the Customer for any loss, damage or delay attributable in whole or part to action by any government or government agency or other force majeure including, without limitation, strikes, industrial action, equipment failure or interruption of power supplies provided that the exchange shall endeavor to give notice generally to its customers of any anticipated delays by notice in its branches.
  3. Each of the provisions herein are distinct from the others and, if one or more of such provisions is or becomes illegal, invalid, or unenforceable, the remaining provisions shall not be affected in any way.
  4. Any demand or communication made by City Exchange shall be in writing and made at the correspondence address of the Customer indicated in the transaction slip /receipt/ voucher (or such other address as the Customer shall notify City Exchange in writing from time to time) and shall be deemed to have been served on the date of posting. The Customer shall advise the Exchange without delay of any change in address and/or in the documents submitted to the Exchange.
  5. These Terms and Conditions create legally binding obligations on the Customer that do not contravene other contractual or legal obligations of the Customer.
  6. These Terms and Conditions shall be governed by and construed in accordance with the laws of the Emirate in which the branch of City Exchange is located and the applicable federal laws of the United Arab Emirates. Any claim or dispute, arising from the relationship between City Exchange and its Customer or otherwise shall be subject to the jurisdiction of the civil courts of the Emirate in which the branch is situated, but without prejudice to City Exchange’s general right to take proceedings, where necessary, in any court whatsoever.
  7. The Customer hereby authorises City Exchange to respond, at its sole discretion, to any and all enquiries received from any other bankers, money products or registered Agents (including, without limitation, bank references), concerning any and all accounts of the Customer with City Exchange, without reference to the Customer. The Customer further authorises the Exchange to disclose any information regarding the mentioned accounts to other members, associates, or agents.</
  8. In these Terms and Conditions, the term “person” includes an individual, firm, company, corporation, government, state or agency of a state or any association or partnership (whether or not having separate legal personality) or two or more of the foregoing and, shall include it’s or their successors and heirs (as applicable).
  9. The Exchange reserves the right to vary any of these Terms and Conditions. Customers will be notified of changes by mail or by display at the Exchange’s branches or at the official website of the Exchange. Use of service after the date upon which any changes to these Terms and Conditions is to have effect (as specified in the Exchange’s notice) will constitute acceptance without reservation by the Customer of such change provided that the Customer shall have been notified thereof before such use. Publication of change by such means as City Exchange may consider appropriate will constitute effective notice to the Customer.
  10. The Customer irrevocably agrees that the Exchange may transfer or sub-contract the provision of any part of the services provided to the Customer to any third party including to another member of sister concern whether that third party operates in another jurisdiction or territory. The Exchange shall remain liable to the Customer for any recoverable loss or damage incurred or suffered by the Customer as a result of the negligence, breach, or default of any such third party, and will require that any such third party maintain the confidentiality of any such information.
  11. Upon signing the form /receipt/ voucher, the customer confirms and acknowledges the correctness, authenticity, and legality of all the transaction details and will be held responsible for the same. City Exchange and its agents are indemnified and held harmless from any claims including but not limited to delays, delivery failures, and mistakes, losses resulting from any wrong information in the transaction receipt as well as force majeure events or any other circumstances beyond our control. Our liability is limited to making necessary amendments at the shortest time if possible. City Exchange has the right to recover any amount paid due to errors or oversight.
  12. In case the customer is a corporate, City Exchange will deal with the person(s) duly authorized by the company supported by an authorization letter signed by the authorized signatory of the company.
  13. For transactions paid by cheque, the cheque must be current dated, crossed, and payable to “City Exchange.” Transaction will be valid and released subject to cheque realization and credit of the amount in City Exchange Bank account. In case the provided cheque is dishonored or rejected for whatsoever reason, the customer agrees to settle the full amount in cash along with any variations in the currency rate and other corresponding charges, in case the issue is not resolved amicably, City Exchange shall have the right to cancel the transaction without notice and take all necessary legal actions to protect its rights and recover all related claims.
  14. For Cash Transfers through the affiliated Money Transfer Organisations (MTOs), please refer to their existing terms and conditions available on their respective official websites.
  15. These Terms and Conditions shall be governed by and construed in accordance with the laws for the time being in force or which shall be in force in the future in the Emirates where the Exchange’s branch is operating.

3. FOREIGN CURRENCY SALE & PURCHASE

City Exchange is licensed by the Central Bank of UAE to provide the following financial activity(s):

  1. Dealing in sale and purchase of foreign currencies and travelers’ cheques
  2. Executing remittance operations in local and foreign currencies
  3. Payment of wages through establishing a link to the operating system of “wages protection”
  4. Cash collection arrangements for:
    1. Value Added Tax (VAT) on behalf of Federal Tax Authority
    2. Pension on behalf of General Pension & Social Security Authority (GPSSA)
  5. Credit Card Bill collection
  6. Air Fare Collection – Air Arabia PJSC

4. DEALING IN SALE AND PURCHASE OF FOREIGN CURRENCIES

Currency sale/purchase may be subject to monetary limits, Money exchange restrictions and complying with anti-money laundering regulations of the country. City Exchange takes very seriously its obligations in respect of Money Laundering and customers should note that any suspicious and/or high value transactions will be reported to the appropriate authorities in relevant countries without further reference.
  • Foreign Currency Notes are bought and sold subject to any restrictions imposed by the Regulatory Bodies of the issuing countries.
  • Currency once sold or bought will be returned only at prevailing rate.
  • We are unable to accept or supply foreign currency coins.
  • The different exchange rate applied for buying and selling of foreign exchange will be decided at the counter based on the rate displayed at branch rate board. There will be different rate for purchase and sale of a foreign currency.
  • The currency exchange rates are flexible and will fluctuate every time. The Exchange is not responsible and will not be compensated for any loss occurred to you due to these rate fluctuations.
  • Customer should verify the genuineness and validity of the notes received before leaving the Exchange’s counter.
  • The Exchange is not responsible for failure by any party to accept any currencies supplied from counters.

    • 5. EXECUTING REMITTANCE OPERATIONS IN LOCAL AND FOREIGN CURRENCIES

    1. Transfers/remittances are considered to be executed and delivered unless a claim is received from the customer within 3 months for Bank transfers and within 1 month for Cash Payouts, from the date of remittance.
    2. Transfer/remittance customers must lodge a complaint within a maximum period of 3 months for Bank transfers and within 1 month for Cash Payouts, from the date of remittance. Else the transfer/remittance will be considered as executed and delivered.
    3. Telegraphic Transfer is dispatched entirely at the remitter’s own risk.
    4. City Exchange does not have any responsibility for the wrong information given to it by the remitter. It is the responsibility of the sender to verify the beneficiary information before confirming the transaction.
    5. Refund against cancellation of Telegraphic transfers, or any payment orders returned unpaid for whatsoever reason will be only, at the prevailing market rate, after an advice confirming non-payment of the missing instrument and cancellation of our original payment instruction is received by us from our correspondent.
    6. City Exchange is free to use service/s of intermediary banks/financial institutions in any country of its choice for the execution of this transfer.
    7. Correspondent / Intermediary charges are applicable to some countries and will be deducted at paying end.
    8. City Exchange reserves the right to draw this Telegraphic Transfer on a different place from that specified by the remitter if operational circumstances are required.
    9. The remittance will be subject to laws related to monetary transactions in the UAE/intermediary / destined countries and may be blocked / freeze in case found suspicious.
    10. The sender / beneficiary will be fully responsible to provide necessary evidence / clarification to prove geniality / legality of entities / funds involved and follow up the concerned authorities for effecting payment or refund in such cases. The Exchange will not bear any responsibility in this respect.
    11. City Exchange will not be responsible for any delay, mistake or omission caused in transmission and our liability is limited for the shortest possible time on notice.
    12. It is understood that neither the City Exchange, nor its branches, correspondents, or agents are responsible for any loss, delay, error, omission, or mutilation arising in the transmission of cables telegrams or communications by electronic systems.
    13. Telegraphic transfers will be affected as per the rates Displayed at the branches or as per the rate provided by the City Exchange officials.
    14. Application for same day value will be managed at the discretion of the Exchange’s Management as this is subject to the time the application is received, as well as the cut-off time which applies in the country to which funds are remitted.
    15. Transactions may be rejected automatically while initiating the transaction, or subsequently or while making the payment as per updated regulatory/Correspondent Bank’s Compliance Policy and Procedures
    16. Upon submitting the transaction, you confirm and acknowledge the correctness, authenticity, and legality of all the transaction details and will be held responsible for the same.
    17. City Exchange, its employees and its agents are indemnified and held harmless from any claims including but not limited to delays, delivery failures, and mistakes, losses resulting from any wrong information in the transaction receipt as well as force majeure events or any other circumstances beyond our control. Our liability is limited to making necessary amendments at the shortest time if possible.
    18. City Exchange has the right to recover any amount paid due to errors or oversight.
    19. Refund against Cancellation of Transfers or any other Remittance transaction returned unpaid for whatsoever reason will be refunded to the sender at the prevailing market buying rate or transaction rate whichever is lower, excluding the sending charges, VAT and any deductions from the beneficiary bank, cancellation fees and any other expense incurred as a result.
    20. Confirmation of non-payment and cancellation of the original instruction is required from our correspondent bank or agent before refund is made. Sender has to submit a written request at branch in order to initiate the cancellation procedure.

    6. PAYMENT OF WAGES THROUGH ESTABLISHING A LINK TO THE OPERATING SYSTEM OF “WAGES PROTECTION”

    Wages Protection System makes the salary processing efficient, simple and safe. Customers can transfer salary, overtime, bonus and any other benefits using our WPS service through City Exchange branches.
    1. Only an authorised representative is permitted to deposit the salary in City Exchange branches, on behalf of the employer.
    2. City Exchange will not be responsible for credit of salary into wrong account number if wrong information is provided by the employer/authorised person.
    3. The employees can withdraw their salaries through the designated ATMs. Withdrawals from other ATMs will be charges as per the respective Banks.
    4. Cash withdrawal through ATM and/or POS transactions made outside UAE will be in currencies of respective countries and conversion rates will be applicable.
    CASH COLLECTION ARRANGEMENTS FOR PENSION ON BEHALF OF GENERAL PENSION & SOCIAL SECURITY AUTHORITY (GPSSA)
    This is typically administering retirement benefits and social security programs to ensure the financial well-being of eligible individuals’ post-retirement. GPSSA often establishes and enforces regulations pertaining to pension contributions, payout and eligibility criteria.
    1. The GPSSA payments are acceptable only for the amount fetched through UAEFTS – If any variations are found in the amount, the transaction will not be processed.
    2. Once the GPSSA Payments have been processed, it is not refundable.

    7. CASH COLLECTION ARRANGEMENTS FOR VALUE ADDED TAX (VAT) ON BEHALF OF FEDERAL TAX AUTHORITY

    The VAT is the tax you have to pay when you buy goods or services.
    1. VAT Payment must be paid as per the deadline shown on the VAT return of the customer.
    2. Customer must ensure the correctness of the Tax Registration Number (TRN) as the amount paid cannot be claimed if payment is made to the wrong TRN.
    3. VAT Payments will be made against the invoice shared from the FTA portal.
    4. VAT payments are acceptable only for the amount fetched through UAEFTS – If any variations are found in the amount, the transaction will not be processed
    5. VAT Payments are acceptable on every quarter and once the payment is completed, it is not refundable.

    8. CREDIT CARD BILL COLLECTION

  • Credit Card customers must review and verify the correctness of the payment advice and confirm by paying the amount.
  • Credit Cards accepted through City Exchange and not refundable once it is transmitted.
  • Credit Card bill amount will be transferred to relevant account of the credit card issuer via UAEFTS.
  • Credit Cards Cash collected on public holidays or if it exceeds the cutoff period, the same will be settled on next business day value.
  • Credit Cards have to pay before the deadline and City Exchange is not responsible for any delay, error or omission which may happen in its transmission or delivery or due to technical error.

    • 9. AIR FARE COLLECTION - ARABIA PJSC

    • For Air Arabia Ticket payments, the customer must provide the PNR number for completing the ticket purchase.
    • Air Arabia Ticket payment has to be completed within 24 hours from the time of online booking.
    • City Exchange is not responsible for the cancellation/amendment of the Air Arabia ticket itinerary done by the customer.

      For all the above financial activity(s) licensed by the Central Bank of UAE:

    • Customers must provide required documents as per Compliance requirements. Original valid ID such as Emirates ID/Passport with Valid UAE Visa must be provided while making any of the above licensed financial activity(s) through City Exchange.
    • Customers will be registered subsequent to City Exchange validating the KYC Documents (Emirates ID/Passport with Valid UAE Visa/GCC ID for GCC Nationals) as per Central Bank of the UAE guidelines, submitted at the City Exchange branches.

    10. AML DECLARATION

    The customer confirms and declare that:
    1. The transaction dealt with by us/me is genuine & legal and the records maintained by us/me would facilitate answering of any queries, clarifications from any regulatory authorities.
    2. The identity and address given for the transaction are confirmed and the fund involved in the transaction are not generated out of or used for any money laundering purpose or funding terrorist activities.
    3. City Exchange is not liable for any remittance transaction blocked by the respective authorities, third parties, service providers, and corresponding banks in the send/receive countries.

    11. PAYING WITH BANK TRANSFER

    1. Customer must use his/her own account for funding the transactions. We do not accept payments made through third party accounts via Net Banking.
    2. Using third party accounts would result in your transaction being canceled / rejected in order to protect you from fraud.
    3. Transaction will be processed once the funds are credited to the respective bank account of City Exchange.
    4. City Exchange cannot be held liable for any interbank charges by your bank for making an internal fund transfer.

    12. TRANSACTION HISTORY

    Transaction History will be available for your record purpose. You have to make a formal request to City Exchange branch for a statement of transactions made at City Exchange.

    13. STATUS OF TRANSACTIONS - COMPLETED (OR) PROCESSED

    Transactions have been processed by City Exchange and does not mean credit/receipt to the beneficiary. To know the credit status, you will have to make an enquiry stating the transaction reference number.

    14. PROFILE INACTIVATION

    City Exchange has the right to inactivate the profile of a customer without any intimation, due to untimely response or insufficient/inaccurate information provided by the customer and matters related to AML Compliance Policies and Procedures of City Exchange and that of the Country. City Exchange will not be liable for any consequences arising out of such inactivation. Inactivation of a profile does not necessarily mean the customer cannot use the traditional branches for conducting future transactions. Any transaction in process at the time of profile inactivation will be processed as per the terms and conditions associated with the said service. Customer can request for the inactivation of his/her profile by visiting any City Exchange branch and submitting a formal request along with the required information and documentation.

    15. RECORD MAINTENANCE

    City Exchange will maintain records of transactions, KYC information, customer feedback or complaints as mandated by the law and regulations. The period of retention of such records will be in the sole discretion of City Exchange as per statutory regulation or our internal policy. You hereby agree that you will not challenge or dispute the admissibility, reliability, accuracy, or the authenticity of the contents of such records.

    16. DEFINITIONS

    1. “Compliance Officer” means one or more members of staff at City Exchange who is responsible for compliance with Money Transfer Regulations, anti-money laundering legislation and other applicable laws.
    2. “Fees” means the charges and fees we charge to you for the Service, as applicable, in accordance with the prices or rates that we communicate to you before we issue a Confirmation, or as provided in these Terms and Conditions.
    3. “Force Majeure Event” means any of the circumstances beyond our control.
    4. “FX Spread” is where you pay for a transaction in one currency and it is paid out in another currency, we apply an FX spread. The FX spread is the difference between the exchange rate we buy the currency in and the exchange rate we are able to provide to you and we communicated it in the order confirmation, and it covers our costs plus a small margin.
    5. “Malicious Code” means computer viruses, Trojans, software locks, drop-dead devices, malicious logic or trap door, worms, time bombs, corrupted files or other computer program routines that are intended to delete, disable, deactivate, damage, detrimentally interfere with, surreptitiously intercept, or expropriate any systems, data, personal information, or property of another.
    6. “Money Transfer Regulations” means the applicable laws of the United Arab Emirates and/or of the country where funds are intended to be received.
    7. “Prohibited purpose” means any unlawful purpose (whether such illegality arises in the country from which the funds are transferred or where they are intended to be received or in any territory with jurisdiction over the Sender or the Receiver) including, without limitation, the transfer or receipt of payment for illegal activities, the transfer of funds which constitute proceeds of crime or money laundering under the Proceeds of Crime Act 2002 or which are obtained by illegal activity, the transfer of funds for the purpose of funding illegal activity, the transfer of funds for the purpose of avoiding the seizure of such funds by law enforcement authorities or under orders of any court of law, and any transfer of funds without the permission of their owner;
    8. “Beneficiary” means the person who receives (or intends to receive) the money through the Service,
    9. “Reference Number” means the unique transaction number, which will be issued to you and which the beneficiary will be required to provide to our partners in order to receive the amount transferred,
    10. “Sender” or “Remitter” means the person who initiates the carrying out of a money transfer through the Service,
    11. “Transaction” means every money transfer that you initiate using the Service and/or every other use that you make of the Service.

    17. CUSTOMER RESPONSIBILITIES AND OBLIGATIONS

    1. You will not use the Service unless you are at least 18 years old.
    2. You will have to pay the total amount and charges in AED as indicated on the transaction.
    3. You shall comply with these Terms and Conditions as well as with any applicable laws, rules, and regulations.
    4. In relation to your registration and use of the Service you will:
      • provide us with accurate, current, complete, and true evidence of your identity and any additional information or evidence we may require confirming your identity.
      • supply us with all information and documentation we may ask for in order to process your transfer and to comply with any legal requirements applicable to us or to our partners.
      • update all information you provide to us to keep it accurate, current, complete, and true.
      • not use the Service for or in connection with any Prohibited Purpose or attempt to tamper, hack, modify, overload, or otherwise corrupt or circumvent the security and/or functionality of the Website and/or the Application or to infect it with any Malicious Code.
      • not open more than one registered account with us.
      • use the Service to send money only to people that you know personally or to pay for goods and services purchased from suppliers of whom you have sufficient knowledge and whose identity you verified. You acknowledge that we have no control over the suppliers or over the goods and services for which you use our Services to make payments and we have no responsibility for the quality, safety, legality, or the delivery of such goods or services to you.
    5. You understand and accept that:
      • We are legally obliged to retain information about our customers and the Transactions that we process for up to 5 years after termination of our relationship with you or as may be required from time to time by applicable law or by any regulatory authorities.
      • All currency converted as part of the Service will be converted using our rate of exchange as communicated to you during the transaction and a FX Spread may apply. We reserve the right to amend our rate of exchange at any time without providing notice.
      • Some countries may impose minimum and maximum thresholds in relation to the amounts that can be sent through our Service.
    6. You will be liable to us for all losses which we suffer or incur in relation to any fraud or fraudulent activity by you or any breach of the Terms and Conditions by you.
    7. You must contact us as soon as possible if you believe or suspect that a Transaction was not executed properly or that the amount has not been received or was only partly received.

    18. FEES AND PAYMENT METHODS

    1. The prices for the Service consist of FX Spread and the Fees.
    2. Our Fees might vary from time to time, but changes in the Fees will not apply to any orders in respect for which we have already sent you the Confirmation.
    3. You can pay through diverse options specified below:
      • Bank Transfer
      • Pay at any City Exchange Branch as Cash / Cheque
    4. Please note that additional charges might apply based on the type of payment method selected.
    5. We are not liable for any additional fees that the banks (either on the sending or receiving side) may charge.
    6. Promotional Discounts on our Fees may be available through promotions that we or our partners may offer from time to time. Promotions are subject to terms and conditions and will be honored in accordance with their published terms.

    19. CANCELLATIONS AND REFUNDS

    1. You can request cancellations and refunds by visiting the concerned branch.
    2. Please note that cancellations and refunds will be processed at the discretion of City Exchange.
    3. Cancellations or Refunds can take up to 14 business days to be processed where accepted and this solely depends on the counterparties, which may take further delay.
    4. Additional charges might apply for cancellations and refund requests.
    5. The channel of refunds would be decided by City Exchange depending upon the payment method you have used during the original transaction.

    20. CONFIDENTIALITY/ PRIVACY

    1. As a fully regulated institution under the Supervision of the Central Bank of the UAE and with a purpose of providing the Service we are bound by the legal requirements to obtain, verify, and record information about our customers. Therefore, we may request from you or consult any legal sources to obtain your personal data and required KYC information when offering the Service to you.
    2. Your personal information will be treated and processed securely and strictly in accordance with applicable data privacy and protection laws and regulations.
    3. Customer information will be treated as confidential unless it is already public knowledge or where it becomes public knowledge through no fault of our own.
    4. We may disclose customer information if we are required to do so by law, by our financial partners in order for them to fulfil their regulatory obligations, by court order, by any statutory, legal, or regulatory requirement, by the police or any other competent authorities in connection with the prevention or detection of crime or to help combat fraud, money laundering and terrorism financing. We may also report suspicious activity to appropriate competent law enforcement or government authorities.

    21. COMPLAINTS, FEEDBACK OR SUGGESTIONS

    1. Any City Exchange Customer may or can submit their Complaints through one of the following channels:
      1. Visit any of our branches and use the Customer Feedback, Suggestions & Complaints Forms available at the branches.
      2. Contact us at +971-43933874
      3. Email at complaints@cityexchangeuae.com
      4. Use our website – www.cityexchangeuae.com
    2. Customer complaints will be addressed within two business days via SMS or email.
    3. All complaints will be resolved within a maximum of ten (10) business days.
    4. In the event a complaint is not resolved within ten (10) business days (i.e., an overdue complaint), proper intimation will be given to the customer, on the very next business day, with reasonable justifications for the possible delay.

    22. WRITTEN COMMUNICATIONS

    Applicable laws and regulations require that some of the information we send to you or communications between you and us should be in writing. You agree to receive such written communications electronically. You also agree that electronic means of communication shall be effective for the purpose of the Contract between you and us. The foregoing does not affect your statutory rights. If you are not favourable to this, please call +971-4-3933874 or email us at complaints@cityexchangeuae.com to opt out.

    23. REVIEW OF THE T & C

    In case of any amendment(s), clarification(s), circular(s), etc. issued by the regulatory authorities, not being consistent with the provisions laid down under this document, then such amendment(s), clarification(s), circular(s), etc. shall prevail upon the provisions in this document and this document shall stand amended accordingly, subject to the prior / post-facto approval of the Owners/Partners. The Owners/Partners may replace / amend this document with a new document on recommendation by the nomination & regulatory requirement. City Exchange reserves the right to change the Terms and Conditions. City Exchange will be providing Sixty (60) calendar days’ notice period future and Permissible change in terms and conditions.

    24. PROCESS FOR CHANGING THE TERMS AND CONDITIONS OF CITY PRODUCT, SERVICES & FEES.

    City Exchange Changes in terms and conditions Process or may propose to change its terms and conditions on its products and services as per the applicable provisions of Consumer Protection Standards of the CBUAE.
  • City Exchange may permanently or temporarily, replace any terms and conditions (including fees, charges, other amounts required to be paid by the customers) or replace these terms and conditions with another agreement, at any time. City Exchange shall notify its customers at least Sixty (60) Calendar days before implementing the changes through written notice or any other applicable mode of communication regarding the proposed change as required by applicable law, in accordance with this section of Consumer Protection Standards of the CBUAE.
  • City Exchange shall inform the customers of changes in the terms and conditions through any applicable mode of communication regarding the proposed change in accordance with the relevant provision of the Consumer Protection Standard of the CBUAE.
  • City Customers shall be notified regarding the changes made in terms and conditions and about every key change applicable, after the effective date of the change, in a summarized language. The customers will be notified in both Arabic and English in accordance with relevant provision of the Consumer Protection Standard of the CBUAE.
  • City Customers shall be notified regarding permissible change in the charges and Fees. Also, City Exchange shall disclose any revision in the charges and fees to its customers through any applicable mode of communication at least Sixty (60) Calendar days before the effective date change in accordance with relevant provision of the Consumer Protection Standard of the CBUAE. The following are the steps taken prior to the changes in charges & Fees:
    • Approval and consent from the Partners
    • NOC from the Central Bank.
    • Sixty calendar days’ notice to customers.
  • Available means to disclose changes in Terms and Conditions at City Exchange
    • Placing a notice of disclosure in all its branches
    • Through electronic and digital / social media
    • Through SMS*
    • Posting a notice at City Exchange website
    Note:  All City Customers reserve the right to obtain a copy of the current and updated terms and Conditions

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