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Terms & Conditions

  • Please count and check your cash before leaving the counter and Universal Exchange Center will not be responsible for any claims later.
  • Currency once bought or sold can be returned only with a new transaction at the prevailing market rate.
  • Customer registration is mandatory with valid identification documents as specified by the Central Bank of the UAE.
  • Transfers/Remittances are considered executed and delivered unless a claim is received within 3 months for cash payout and 6 months for bank transfer from the date the remittance was made.
  • 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, any deductions from the beneficiary bank, cancellation fees and any other expense incurred.
  • Universal Exchange Center and its agents are indemnified and held harmless from any claims including but not limited to delays, delivery failures, mistakes and losses resulting from any wrong information in the transaction receipt signed by the as well as any other circumstances beyond our control pertaining to any beneficiary bank or regulatory issue.
  • Service charges are available in our branches and on our website https://universalexchange.net/ and the charges may vary based on the product/service and the value of the transaction.
  • The remitted amount may be subjected to additional cost or additional fees that may be imposed by the correspondent bank or financial institution providing the financial services to the beneficiary of remittances.
  • Universal Exchange Center will refund the unclaimed funds as per the guidelines of the regulatory authorities.
  • In case of any complaints the customer may contact within 7 days from the date of transaction. Universal Exchange Center will ensure that the complaints are responded within reasonable time.
  • The relationship with the Universal Exchange Center will be terminated if the IDs/Licenses are not updated upon expiry.
  • The above-mentioned terms & conditions are applicable for the products/services offered by the Universal Exchange Center.
  • For any enquiries / feedback / complaints, the customer may fill the form and drop in the suggestion / feedback and complaints box placed in the branch lobby.
  • Alternatively for any complaints the customer may contact the customer support officer at Phone: 04-2288810, WhatsApp: 055-2174839 or drop a mail to compliants@universalexchange.net
  • Universal Exchange Center 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.
  • Universal Exchange Center reserves the right to change the terms and conditions at a later date.
  • Universal Exchange Center will notify the customers at least 60 days prior to making any changes to the terms and conditions through our website.
  • AML declaration: I undertake and confirm that the transactions dealt with me are genuine and legal and the records maintained by me would facilitate answering of any queries/clarifications from any regulatory authorities in UAE.
  • The source of funds and the documents provided are legal and generated by us/me and not belonging to any third party or generated through illegal source.
  • The purpose of transaction should be declared correctly and should not be indeed for any illegal purpose.
  • All mandatory information required for the onboarding and transaction should be declared correctly and if in case of any further information customer should be able to provide a later date.
  • To ensure a smooth remittance process, it is recommended that the customer verifies whether the beneficiary bank imposes any backend charges for transferring the funds and provides their consent accordingly.
  • Cooling-off Period: The customer acknowledges that the execution of this transaction is time-sensitive and therefore agrees to forgo the cooling-off option to proceed with the transaction.
  • For further information, the customer may visit our branches or website https://universalexchange.net/
  • Key Fact Statement: I acknowledge the understanding of the key fact statement. I also acknowledge that I understand the product/service, pricing, risk, fees and consumer rights and obligations as detailed in the Key fact statement.

Warning:

Fraudulent Transactions: False or misleading information may result in cancellation, legal action, and permanent service restrictions.

Warning:

Suspicious Transactions: Transactions suspected of money laundering or terrorism financing will be frozen and reported to authorities.

Warning:

Tax Evasion: Universal Exchange Center does not facilitate tax evasion and comply with all relevant laws.